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Advisor barred by the Securities and Exchange Commission (SEC) for Defrauding Federal Employees

On August 19, 2022 the the Securities and Exchange Commission (SEC) barred Jonathan Dax Cooke, a former broker accused of fraudulently persuading hundreds of current and former federal employees to liquidate their Thrift Savings Plan accounts in order to purchase variable annuities. The variable annuities charged significantly higher fees and provided Cooke with substantial commissions. […]

Big Crypto IRA/401K News! Fidelity will allow Bitcoin 401k – How to Open a Crypto Solo 401k at Fidelity – Fidelity Bitcoin 401k Review

How to open a Fidelity Solo 401k to buy and invest in bitcoin crypto

Yes! Mega Backdoor Roth Solo 401k and Roth IRA 2021/2022 Lives!

Biden announced on December 16, 2021 that Senate will take up Build Back Better in 2022, resulting in the mega backdoor (both the conversion of voluntary after-tax 401k funds including solo 401k to the Roth IRA or the Roth solo 401k as well as the conversion of non-deductible IRA funds to the Roth IRA) not […]

The Securities and Exchange Commission (SEC) Reports Enforcement Results for 2021 and Cryptocurrency and SPACs Among the Named Actions

On November 18, 2021 the The Securities and Exchange Commission (SEC) announced a large increase in enforcement actions compared to 2020. Cryptocurrency and SPAC were seen as emerging threats. For instance, the Commission notes that it charged a company for operating an unregistered online digital asset exchange, charged a crypto lending platform and top executives […]

Mega Backdoor Roth Solo 401k Ban Passes House Hurdle But Senate Sign Off Still Needed

UPDATE: Great News! The mega backdoor will not be banned for 2022 (LEARN MORE HERE) as President Biden announced on December 16 that the Build Back Better bill won’t get passed in 2021so you just need to adopt the solo 401k plan by December 31, 2021 so that you can make all solo 401k contribution types including the […]

Back Again! Backdoor Roth and Mega Backdoor Roth Added Back to Pending Reconciliation Bill Build Back Better Act of 2021

UPDATE: Great News! The mega backdoor will not be banned for 2022 (LEARN MORE HERE) as President Biden announced on December 16 that the Build Back Better bill won’t get passed in 2021so you just need to adopt the solo 401k plan by December 31, 2021 so that you can make all solo 401k contribution types including the voluntary […]

Good News: Backdoor Roth and Mega Backdoor Removed from Pending Reconciliation Bill Build Back Better Act of 2021

UPDATE: Great News! The mega backdoor will not be banned for 2022 (LEARN MORE HERE) as President Biden announced on December 16 that the Build Back Better bill won’t get passed in 2021so you just need to adopt the solo 401k plan by December 31, 2021 so that you can make all solo 401k contribution types including the voluntary […]

On July 29, 2020 the IRS issued a reminder that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers access funds from retirement plans and IRAs

The IRS issued a reminder on July 29, 2020 that retirement account (e.g., solo 401k plans) and IRA account holders affected by COVID-19 may be able to access their retirement funds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provided they meet one of COVID-19 requirements (see below). The Deadline As the law […]

Latest IRS Reminder on No RMD Requirement in 2020

On July 17, 2020 the IRS released a reminder relating to not being required to take required minimum distributions (RMDs) in 2020 from IRAs and retirement plans such as 401k plans including solo 401k plans for the self-employed.   The waiver of the 2020 RMD from IRAs and solo 401k plans, for example, result from the […]

DOL Proposed Regulation (Improving Investment Advice for Workers and Retirees Exemption) Impact on Retirement Accounts Including Solo 401k Plan

Intended to govern investment advice for for retirement account holders including IRAs and 401k plans such as self-directed solo 401k plans, on June 30, 2020 the Department of Labor’s (DOL) Employee Benefits Security Administration (EBSA) released a guidance package entitled Improving Investment Advice for Workers and Retirees Exemption. The guidance package includes a News Release, Fact Sheet, Proposed […]

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