Solo 401k

Primary Residence Solo 401k Participant Loan Question

 QUESTION: Can I take a participant loan from my solo 401k plan for  15-year or 30-year  term  if I use the funds for the purchase of my primary residence even though there will be no mortgage or bank loan on the property.  The reason there is no loan is that either a) the house is purchased […]

Does the 10% Early Distribution Pentaly Apply to QDRO Divorce Payments from Solo 401k Plans?

QUESTION: My husband an I recently divorced. As is typical, half of my solo 401k got awarded to him pursuant to a qualified domestic relations order (QDRO). If he elects to take his portion from the solo 401k as a distribution instead of rolling it over to an IRA or another 401k plan, will he […]

Solo 401k/IRA Money to Exercise Stock Options

BACKGROUND: I have recently left a job and need to exercise stock options by June 12th.  My husband and I would like to combine the $ from my 401k ($79k) with $ from his rollover IRA ($46k) and use the combined amount to exercise the stock options.  From what I understand so far, a solo […]

Do I have Make Pretax Solo 401k Contributions If I Make Roth or Voluntary After Tax Contributions

BACKGROUND: I recently found your website and would like to compliment you on the wealth of information that you share there. I currently have a solo 401k at a competitive company with a plan that provides for after tax contributions and in-service distributions. But I am interested in moving the plan to your firm as the […]

Consider a Donor-Advised Fund When Converting Pretax Solo 401k to a Roth Solo 401k To Ease the Tax Hit on the Conversion

The conversion of pretax solo 401k funds to a Roth solo 401k results in income taxes due on the converted amount. In exchange, the money in the Roth solo 401k grows tax free, and the Roth solo 401k owner and her heirs can also take tax free distributions once distribution triggering events are satisfied. A […]

Should I Open a Solo 401k or an IRA LLC for Investing in Real Estate?

SCENARIO: My husband has recently transitioned employers and we are considering the idea of rolling over his previous employer’s provided 401(k) into a self-directed IRA.  Our primary interest is using these funds to invest in real estate.  From the details provided online, we are mainly interested in the Solo 401(k) or the IRA LLC. The only […]

Delaying the Mandatory 20% Federal Tax By Processing a Direct Rollover to an IRA

QUESTIONS: A question regarding Solo 401K distributions, and maybe a way to avoid the 20% withheld Federal tax… Does the Solo 401K allow for a direct rollover to another IRA, with subsequent withdrawal from that IRA, such that the 20% Federal tax withholding can be mitigated? ANSWER: Yes it is true the mandatory federal income tax […]

Solo 401k RMD Rules Explained Chart

While the solo 401k and IRA required minimum distributions (RMD) rules are similar, there are differences which results in confusion. The following chart covers the RMD rules as they apply to the solo 401k plan.   Quick Links Uniform Life Table Joint Life Expectancy Table Solo 401k RMD Q & A Who is not required […]

Fourth Quarter 2018 Retirement Asset Totals

On March 20, 2019, the Investment Company (ICI) released the 2018 fourth quarter report that details retirement asset totals reached $27.1 trillion. Here are more details from the 4th quarter report: The 4th quarter numbers were lower by 7.4 percent vs the prior September ending quarter, and down 4.7 percent for the year. Retirement assets […]

As a result of the Tax Cuts and Jobs Act, Maximizing Solo 401k Contributions is a Good Option to Reduce Taxation

While the Tax Cuts and Jobs Act has done away with many deductions previously allowed (state income and personal property taxes in excess of $10,000, investment expenses, alimony payments stemming from divorce, and employee business expenses, to name a few, the good news for the self-employed (par-time side hustles or full-time), who make up the […]

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