Tag Archives: Roth IRA

Mega Backdoor Roth 401k FAQ: What is the maximum I can transfer from After-tax Solo 401k to Roth IRA?

Mega Backdoor Roth 401k FAQ: What is maximum I can transfer from After-tax Solo 401k to Roth IRA?

Can I do a Mega Backdoor Roth Solo 401k for 2022 in 2023?

Question: I was very busy at the end of last year and didn’t set up a Solo 401k by 12/31/2022.  Can I still set up a Solo 401k plan in 2023 and make Mega Backdoor Roth contributions?  Please note that I own my own business with no employees.  I operate my business as a single-member […]

Solo 401k Daily Question – Can I contribute to both Roth IRA and Mega Backdoor Roth Solo 401K?

Can I contribute to both Roth IRA and Mega Backdoor Roth Solo 401K?

Yes! Mega Backdoor Roth Solo 401k and Roth IRA 2021/2022 Lives!

Biden announced on December 16, 2021 that Senate will take up Build Back Better in 2022, resulting in the mega backdoor (both the conversion of voluntary after-tax 401k funds including solo 401k to the Roth IRA or the Roth solo 401k as well as the conversion of non-deductible IRA funds to the Roth IRA) not […]

Mega Backdoor Roth Solo 401k Ban Passes House Hurdle But Senate Sign Off Still Needed

UPDATE: Great News! The mega backdoor will not be banned for 2022 (LEARN MORE HERE) as President Biden announced on December 16 that the Build Back Better bill won’t get passed in 2021so you just need to adopt the solo 401k plan by December 31, 2021 so that you can make all solo 401k contribution types including the […]

Back Again! Backdoor Roth and Mega Backdoor Roth Added Back to Pending Reconciliation Bill Build Back Better Act of 2021

UPDATE: Great News! The mega backdoor will not be banned for 2022 (LEARN MORE HERE) as President Biden announced on December 16 that the Build Back Better bill won’t get passed in 2021so you just need to adopt the solo 401k plan by December 31, 2021 so that you can make all solo 401k contribution types including the voluntary […]

Proposed ban on IRA Accredited Investments Has Been Removed from Reconciliation Bill Build Back Better Act of 2021

Nov. 3rd, 2021: While the proposal to ban accredited investments in IRAs is still not in the latest pending bill, the Proposed Band of the Backdoor Roth & Mega Backdoor Roth is Back–See the following for more Information:  https://www.mysolo401k.net/back-again-backdoor-roth-and-mega-backdoor-roth-added-back-to-pending-reconciliation-bill-build-back-better-act-of-2021/ Great news! The government has dropped from the pending Build Back Better Act  the proposal to ban accredited […]

Mega Backdoor Roth IRA & Solo 401k is under attack…Call your Senator & Representative!

UPDATE: Great News! The mega backdoor will not be banned for 2022 (LEARN MORE HERE) as President Biden announced on December 16 that the Build Back Better bill won’t get passed in 2021so you just need to adopt the solo 401k plan by December 31, 2021 so that you can make all solo 401k contribution types including the voluntary […]

IRA Conversion & IRA Recharacterizations Differences

The IRA conversion and IRA recharacterizing rules can be easily confused. Following are the differences between these two IRA transactions. What is a conversion? A conversion occurs when IRA funds including assets (e.g., real estate, IRA owned LLC, notes, and even equities) are moved from a Traditional IRA, SIMPLE IRA, and SEP IRA to a […]

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