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Self-directed 401k FAQ – Are solo 401k setup fees tax deductible?
QUESTION:
Is the cost to set up and open a Solo 401k tax deductible?
RESPONSE:
Yes, the cost to open a solo 401k fees is tax deductible as a business expense because the Solo 401k owner is setting up a Solo 401k plan for their business.
As always, it is important to discuss and coordinate this with one’s tax advisor.
