Posts Tagged "self directed 401k"

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 →

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 →

UBIT and UDFI and the Implications for Your IRA or 401(k)

UBIT — Unrelated Business Income Taxable UDFI — Unrelated Debt Financed Income Two acronyms for taxes that will probably never affect you, BUT this post is to address UBIT and UDFI and the implications for your IRA or 401(k) if you trigger these events.  Both are important for you to know…and, if applicable, discuss with your tax or legal professional before you…read more →

IRS, Taxes, Identity Theft and Solo 401(k) Plans

This IRS notice is specifically intended to assist tax payers with curbing as much as possible identity theft concerns.   The IRS has taken pro-active steps in working with State Departments of Revenue, tax software providers and tax preparers so these entities can greater assist tax payers with theft identity warning signs.  We all know that in the world of identity…read more →

Reporting an IRA Rollover to Your Solo 401(k)

A friendly reminder to those of you who executed a rollover from your IRA to your newly-established Solo-K plan (also marketed as a Solo 401(k), Self-Directed 401(k), Self-Administered 401(k), Uni-K, One-Participant 401(k)) during the past tax year (2015).  This reminder deals with reporting to the IRS the rollover of this IRA so that they know it is not a taxable…read more →

Missing W-2 or 1099-MISC?

Okay, this can be a misleading title for a blog for some…but bear with me.  If you are a self-employed individual established as an incorporated entity, your business in providing you payroll income and, as such, you would receive a W-2 on your year-end income for tax reporting.  As such, you would correctly conclude that you shouldn’t have a missing…read more →

Identity Theft — How the IRS is Trying to Help

Let’s face it, identity theft is not going away and it certainly has gotten worse.  There are many things that we can do to try to protect ourselves….and, the IRS and states know there is more they can do to try to protect citizens from tax-related identity theft issues. A large concern that we are all worried about…..fraudulent tax returns…read more →

IRS Form 5500-EZ — One Participant Plans

For those of you with self-directed 401(k) plans, the IRS Form 5500-EZ may or may not apply to you.  Whether or not you have to file the 5500-EZ for your Solo-K plan is based on whether the value of the plan’s assets exceed $250,000.    It is important to note that while many people believe the 5500-EZ is only for…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 →