Tag Archives: IRS

ROBS 401K – Deep Dive Re Form 5500 Filing/Recordkeeping/Annual Compliance (IRS/DOL)

Please check out our webinar reviewing the annual Form 5500 requirement for ROBS 401k plans. VIDEO SLIDES: ROBS 401K Webinar – A to Z Guide Form 5500 ROBS 401K – What is Form 5500? “Informational” tax return Provides information about the 401k plan Filing the Form 5500 is consistently recognized by the Internal Revenue Service […]

Can I earn interest on Crypto/Bitcoin in My Solo 401k/IRA?

Please check out our webinar where we review whether you can earn interest on cryptocurrency/bitcoin in a Solo 401k/IRA account IRS View of Cryptocurrency How to Invest Retirement Funds in Crypto How to Earn Interest on Crypto/Bitcoin Will the IRS tax interest on Crypto/Bitcoin in My Solo 401k/IRA? Video Slides: Can I Earn Interest on […]

Deep Dive – CARES Act Distributions: Payback, Taxes & Reporting

Please listen to an in-depth discussion of the rules applicable to distributions under the CARES Act including: How to take a distribution Spreading Taxes over 3 years Tax Reporting Payback Rules & Examples CARES Act Distributions (CRD) –Basics Qualify: Individual or his/her household member is impacted medically or financially by COVID-19 in one of the […]

Individual 401k Compensation Question: Can a Solo 401k Trustee receive compensation from the Solo 401k plan?

Question: My wife and I have a Solo 401k that is invested in a rental property.  The house that is in the trust has a positive cash flow of $550.00 per month. Each month we put aside $100.00 for future maintenance and repair costs, along with payments to our property manager.  Could you please tell me […]

Can an S Corporation Have an Individual 401k?

Question: My partners & I have a consulting business that is organized as an S-corporation. Are we eligible to set up an Individual Solo 401k plan for our business? Answer: A Solo 401k plan is a 401k plan for owner-only businesses with no full-time w-2 employees (other than the owner(s)). The IRS clearly recognizes that […]