Posts Tagged "individual 401K"

IRS, Taxes and Domestic Abuse

IRS, taxes and domestic abuse are not topics you would normally think being related to each other in any way; however, this blog is intended to show that when it comes to domestic abuse, the taxpayer who has been subjected to such abuse, has rights that can assist and protect them  from their spouse (or former spouse).  As you might imagine…read more →

Tax-Free Income from Your Business?!

  Anyone who has read my posts or spoken with me have always heard me say that PGI does not provide tax, legal, financial or investment advice….and, this blog is no exception to that.  But, if you interested in receiving tax-free income from your business and implementing this strategy, it is imperative that you review the permissiveness of this strategy with…read more →

Hobby OR Self-Employment?

Anyone who has ever spoke to me knows that I am an unabashed fan of the Solo-K plan (also known as a Uni-K, self-directed 401(k), self-administered 401(k).  Now, my support of the 401(k) doesn’t mean that anyone can establish the plan.  One must be self-employed in some capacity and qualify for the plan….as one might imagine, there must be either…read more →

“Life Cycle” of a Solo 401(k) Plan

Similar to our lives, there is an actual life cycle of a Solo 401(k) plan as well.  And, that is how you want to think about your Solo-K plan.  If you do, it will certainly help cement in your mind how you are to operate your plan moving forward.  It is important that you fully understand this analogy to fully…read more →

2016 IRS Tax Deductions for the Self-Employed

We can always spend a lot of time talking about self-directed 401(k) plans.  It doesn’t matter if  we define it as a one-participant 401(k) plan, a Uni-K, an Individual 401(k), Solo-K, self-directed 401(k), self-administered 401(k)….or any other moniker.  All are acceptable to describe a 401(k) plan for the self-employed individual with no employees. But since many of us are self-employed,…read more →

Rollovers to a Solo 401(k)

There is never a bad time to give reminders on rollovers into a 401(k) plan.  There are many different retirement plans (e.g., IRAs, ex-employer’s 401(k) plans) that one can rollover into their Individual 401(k) plan.  And, when you keep in mind that a PGI SelfDirected one-participant 401(k) plan provides you the option of having a plan that can invest in traditional assets and non-traditional…read more →

Solo 401(k) and SEP IRA

For those that are interested in self-directed retirement plans, it is easy to understand some of the confusion that exists in what plans the individual qualifies for and what type of retirement plan should be established.  In this post, we will address a solo 401(k)and SEP IRA. A self-employed individual who will consider a solo 401K(k)and SEP IRA may initially believe the SEP IRA…read more →

Both Roth and Pre-Tax Contributions to a 401K Plan?

A question that often comes up is whether a 401K participant can make both Roth and pre-tax contributions to a 401K plan? While it is a simple answer, it is totally understandable why people do not know the answer to the question and why it may confuse them. Why? Well, it is because that 401K plans do NOT have to…read more →