Investing a Self-Directed Solo 401k in Airport Hanger Leases

BACGROUND & QUESTIONS: My solo 401K LLC is wanting to invest (buy) in a property (airport hangar lease) by being a member of an “Investment” LLC with 2 other members. None of the other two members are related parties or prohibited parties. In the “Investment LLC” the other 2 members don’t want to be the […]

The National Compensation Survey (NCS) Survey: 67 percent of private industry workers had access to retirement plans in 2020

The U. S. Bureau of Labor Statistics (BLS) conducted an employee benefits survey and found that as of March 2020 Sixty-seven percent of private industry workers had access to retirement plans in 2020.  Fifty-two percent had access only to defined contribution retirement plans. 12 percent had access to both defined benefit and defined contribution retirement […]

Texas Storm Victims IRS Relief for Solo 401k Contribution Deadline is Now June 15, 2021

The IRS announced in February 2021 in a news release this month relief for Texas winter storm victims.  This relief applies to the entire state of Texas. “Affected taxpayer” automatically includes anyone who resides or has a business located within the designated disaster area. Those who reside or have a business located outside the identified disaster […]

Can I Transfer an IRA at Edward Jones to a Self-Directed Solo 401k?

Direct Rollover Based on experience with a direct-rollovers from an IRA at Edward Jones to a new employer plan such as a self-directed solo 401k plan, a letter of acceptance that is prepared by the solo 401k plan provider is required and is submitted to Edward Jones by the client’s advisor to the Edward Jones […]

The Legacy IRA Act

In February, U.S. Senators Kevin Cramer (R-ND) and Debbie Stabenow (D-MI) reintroduced the Legacy IRA Act. This act was previously introduced in Mary of 2019. The reintroduced bill would significantly increase the maximum IRA qualified charitable distribution (QCD) for those age 65 and over to $400,000. These amounts would be given tax free to an […]