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Using the joint life expectancy table generally results in a lower RMD amount. This table applies for distribution calendar years beginning on or after January 2, 2022. Use the IRS joint life expectancy table to calculate your annual solo 401k required minimum distribution (RMD) If you have a spouse who’s more than 10 years younger […]

This table applies for distribution calendar years beginning on or after January 2, 2022. Use the IRS uniform lifetime table to calculate your annual solo 401k required minimum distribution (RMD) if you are single, or if married and your spouse is the beneficiary of the solo 401k and is NOT more than 10 years younger […]

The conversion of pretax solo 401k funds to the Roth solo 401k designated account does not have to be done in cash. Pretax solo 401k funds including equities such as stocks and index funds may be converted to the Roth solo 401k. This is referred to as an in-plan Roth solo 401k conversion of an […]

Under the 401k including the solo 401k beneficiary rules the spouse of the account holder is the primary beneficiary by default.  This is true even if you failed to complete a formal beneficiary election form to name your spouse as the beneficiary of the 401k. Therefore, if you do not want to name your spouse […]

On March 29, 2022 the House of Representatives approved SECUR Act 2.0 formally known as The Securing a Strong Retirement Act of 2022 (H.R. 2954) which is intended to add more provisions to the original SECURE Act. The new also includes provisions from the Retirement Improvement and Savings Enhancement (RISE) Act that came out of […]

Do Roth IRA Contributions Reduce my annual solo 401k contribution amounts? No, Roth IRA contributions do not count toward your solo 401k annual contribution limit. However, Roth IRA contributions do count towards your total IRA contribution limit. So, if you contribute to both a Roth and traditional IRA, the combined amount can’t exceed the annual […]

Knowing the IRA direct-rollover rules is the first step in IRA portability. What is a direct rollover? A direct rollover is the direct movement of  cash or assets from an IRA to a 401k including a solo 401k. Direct movement means the IRA check is directly deposited to the solo 401k bank or brokerage account. […]

A self-directed solo 401k may be the perfect retirement plan for Keller Williams real estate agents. In addition of being a good way to supercharge retirement savings with the ability to contribute $61,000 for 2022 plus an additional $6,500 for those age 50 or older, the solo 401k eligibility requirements are a natural fit for […]

Solo 401k and IRA investors will now have the option to invest in bitcoin through the first ever bitcoin exchange-traded fund. The first-ever “Bitcoin futures ETF” is now available after 8 years in the making (the Winklevoss twins first applied for it back when bitcoin was only at $90). This week the ProShares Bitcoin Strategy […]