Self-Directed Solo 401k Rehab Real Estate Question
Friday, April 10
QUESTION: If I buy a flip house in the name of the solo 401k but I need to use some personal funds to complete the rehab and sale, can I get reimbursed for the personal expenses or must all sale proceeds go back into the self-directed solo 401k?ANSWER: If you purchase a property with your Solo ...
The Self-Directed Solo 401k Do's & Don'ts | Checkbook Control Solo K
Tuesday, April 07
While a self-directed solo 401k is a great tool for investing in alternative investments such as precious metals (like gold and silver), real estate, tax liens, and promissory notes to name a few investment types, as well as for processing a solo 401k participant loan, not everyone is aware of th...
The Once-Per-Year IRA Rollover Rule Quick Guide
Sunday, April 05
Here is a quick guide to help you understand the new once-per-year rollover rule and how it affects your IRA rollover plans. Don't process an IRA rollover IF:You already made one tax-free rollover from an IRA to another (or the same) IRA within the last 12 months. Key Items: 1. The once-per year ...
Solo 401k In-Kind Distribution Tax Obligations vs Direct Rollover
Friday, April 03
QUESTION: I’m closing down my self-employed business and then my solo 401k. What are the next steps for this? If I wanted to take a full distribution and not set up an IRA LLC, how would that work and what would be my tax obligations? I have money in the solo 401k account at the bank as well as p...
Invest a Solo 401k in an LLC- The Self-Directed Solo 401k LLC Process
Wednesday, April 01
A self-directed solo 401k is a type of retirement plan for the self-employed that may be invested in an LLC, whether a single member or multiple member LLC. This communication covers the process of investing a solo 401k in a limited liability company (LLC) where the solo 401k is the sole/only ...
Solo 401k Expense Types an Paying Self-Directed Solo 401k Expenses
Tuesday, March 31
Identifiable Costs - expenses in connection with establishing and administering the solo 401k plan, such as: Solo 401k setup costsAnnual maintenance feescomplianceFinancial ConsultingAuditsPaying identifiable costs: both solo 401k and personal or business funds can be used to pay identifiabl...