Did the Inflation Reduction Act (IRA) Impact the Self-Directed Solo 401k and Self-Directed IRA and IRA LLC?

The passage of the The Inflation Reduction Act (IRA) did not have any direct impact on self-directed IRAs, self-directed solo 401k plans or IRA LLCs. Instead the main purpose of the new act (IRA) is to combat inflation, climate change, and health care costs. This is a stark difference from the Build Back Better (BBB) which never passed and would have squarely impacted solo 401k plans, IRAs and the IRA LLC.

Tax on Corporations & Stock Buybacks

The Inflation Reduction Act (IRA) does impose a 15% minimum corporate tax for businesses starting in 2023. It also imposes a 1% excise tax on stock buybacks for stock buybacks performed in 2023 and after. However, stocks held in retirement accounts including ROBS 401k, solo 401k and IRAs will not be subject to this 1% excise tax.

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About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>


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