Solo 401k

Solo 401k Value Under $250,000 as of 12/31 but Over $250,000 During the Year

BACKGROUND: Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan applies to one-participant or “owner-only”  plans if the plan has assets of $250,000 or more at the end of the plan year.  Plans subject to the Form 5500-ez filing requirement include solo 401k plans and defined benefit plans. QUESTION: Please let me […]

Learn How Crypto Solo 401k Provides Access to Many More Exchanges vs. Crypto IRA and Why this Matters

Harvard Law Attorney George Blower reviews how a Crypto Solo 401k offers access to many cryptocurrency exchanges and the related advantages of a Crypto Solo 401k over a Crypto IRA.

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

Reporting Self-Directed Solo 401k Contributions on TurboTax

BACKGROUND & QUESTIONS I have run payroll for $51,000 through my LLC.I have allocated $9000 for the employee contribution and the same was reflected in my w2.Now I am planning for an employer contribution, which is 25% of the W2 income $51,000, that calculates to $12,750. Now I can fund my solo 401k retirement account […]

Who is Required to Take Required Minimum Distributions from their Self-Directed Solo 401k in 2022?

2022 RMD Solo 401k Deadline

Knowing when to commence or to continue to take Required Minimum distributions can be quite confusing, as the dates vary based on when your first reach age 72 and if you have already been making RMDs.  We’ve put together the following post to help solo 401k participants understand the RMD deadlines. Existing (Ongoing Distributions) For […]

How to Title Self-Directed Solo 401k Alternative Investments

Titling Solo 401k Investment

Unlike equities where the investments automatically get titled in the name of the self-directed solo 401k plan since they are made under the brokerage account, the same is not the case for alternative investments which include real estate, private equity/placements, tax liens, precious metals, and promissory notes, etc. Titling the Alternative Investment As an illustration […]

Property Manager Issued Form 1099-MISC for Self-Directed Solo 401k Owned Property

BACKGROUND & QUESTIONS: Last year we hired a property management company to manage the 4-plex apartment building I own in the self-directed Solo 401K. The company issued a 1099 with the gross rental income for 2021.  How do I notify the IRS that this “income” is part of my 401-K and therefore not taxable? ANSWER: […]

Items to Consider if You Plan to Process a Self-Directed Roth Solo 401k Pretax In-Plan Conversion in 2022

Roth solo 401k Pretax In-Plan Conversion

New IRS Beneficiary Distribution Rules For Solo 401k and IRAs Effective for 2022 & Later Years REG-105954-20 & SECURE Act

Last month (February 2022), the IRS finally published (see REG-105954-20) updated beneficiary distribution rules (the distribution rules for those who inherit IRAs, an d 401k plan funds including solo 401k). These rules replace the rules last published in 2002 and also encompass many of the provisions found in the SECURE Act of 2019 which then […]