401K Basics

Solo 401k – Defined and Eligibility

Perfect for the Business Owner that has no common law employees! The Solo 401k (self-directed) is a plan that can be utilized by a sole proprietor, partnership, S-Corp or C-Corp. It is a retirement plan that allows the business owner with no common law employees the ability to contribute to their plan at the highest levels (based on corresponding income)…read more →

Reporting IRA and 401(k) Rollovers on the 1040

It is that time of year when you may have rolled over funds during 2018 from a previous IRA or 401(k) to your new self-directed IRA or self-administered 401(k) plan. While you may not consider this rollover a distribution (“John, I just rolled over the funds as a non-taxable rollover”), the IRS does still consider this to be a distribution….it is just…read more →

Is the Solo-K Best for the Self-Employed Individual?

For the self-employed individual, there are various retirement plans that may be of interest.  There is always the question: is the Solo-K best for the self-employed individual?   For this blog, we are not going to be comparing different plans.  What we will address are some key components to the Solo-K that you should certainly consider in your selection of the…read more →

2019 401(k) Contribution Limits

Listed below are the IRS changes made to 401(k) contribution limits to 401(k) plans for 2019. A Solo-K is also often referred to as a Uni-K and Individual K plan. As you will see, contributions went up slightly from 2018. Better upward than downward, I say! 2019 401(k) Contribution Limits The following changes were made to 2019 401(k) contribution limits…read more →

Reporting 401(k) and IRA Rollovers

Congratulations!  You established your self-administered Solo-K and you are in the process of rolling over funds into the plan.  You have been advised of reporting 401(k) and IRA rollovers into your new plan, and you want to make sure you do this correctly.  Let’s face it…you don’t want a letter from the IRS telling you it appears you owe them…read more →

Should Solo-K Contributions be Roth or After-Tax?

Well, first, I would say why not both!  But, many people when posed with the question, “should 401(k) contributions be Roth or after-tax” would say they are one in the same.  They are both treated as an after-tax contribution in that the contributions are still included in the participant’s taxable income.  So, they are the same, right? No.  In a…read more →

Taking a Distribution from Your Solo-K Tax Free?!

And, we aren’t talking about a Roth distribution after age 59 1/2!! Taking a distribution from your Solo-K tax free is possible. Now these plans (also marketed as Uni-K, Individual 401(k), self-directed 401(k) and self-administered 401(k) plans) are just like any 401(k) plan…which, generally, means that this might not be possible. Ah, the first thing you think: “The person has…read more →

Maximum Contributions to Your 401(k) with Less Income!

How do you have maximum contributions to your 401(k) with less income?  Enjoy Part 2 of a blog series on after-tax contributions you can make to your Solo-K plan (also marketed as Uni-K, self-directed 401(k), self-administered 401(k) and Individual 401(k) plans).  From the previous post on this topic, an initial introduction was provided to give a brief explanation as to…read more →

Super Charged 401(k) Contributions for Alternative Investments

When I have written blog posts, I have rarely used “hype” words.  You know them:  “super”, “new”, “improved”, “secret”, “top 10 reasons”, etc.   We know why bloggers use them, but many times we feel suckered when the content of the blog doesn’t live up to the hype of the blog title.  Well, I must admit that I am going…read more →

Self-Directed 401(k) Beneficiary Form

All the plan documents you receive for your Solo-K plan (also referred to as a Uni-K, Self-Directed 401(k), Self-Administered 401(k), Individual 401(k) Plan) are important in their own right.  The self-directed 401(k) beneficiary form is no exception.  In the concern of making sure all documents are being executed for the plan, some Trustees forget to execute the self-directed 401(k) beneficiary…read more →