Category: Basics

The Self Directed Checkbook Control IRA & 401k Blog

2017 Solo 401k contribution limits

Solo 401k contribution limits typically increase by small amounts periodically, often every year or two. These increases are based on cost-of-living adjustments. For those of you looking to maximize tax savings on your upcoming filing, here are the 2017 Solo 401k contribution limits. Under age 50: For tax year 2017, a Solo 401k participant under […]

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IRA LLC vs Solo 401k

IRA LLC vs Solo 401k

Although there are eligibility requirements to the Solo 401k and this plan is not for everyone, this post will focus primarily on the components of the plan that make it so attractive when examined next to an IRA LLC. First, a bit of background While both a self-directed IRA and a self-directed 401k can allow […]

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2015 Solo 401k contribution limits

2015 Solo 401k contribution limits

Have you ever wondered how much money you can put into a retirement account? It depends on what the current contribution limits are. These contribution limits typically go up a bit periodically, often every year or two, based on cost-of-living adjustments. Here we’ll look at the 2015 Solo 401k contribution limits. Every account type has […]

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Prohibited Transactions

Prohibited Transactions

Self directed IRAs and 401ks, including the almighty Solo 401k, really are fantastic retirement vehicles. Many people are absolutely amazed to learn of the features and benefits these accounts offer. Typical reactions include: You mean, I can rollover my existing retirement funds and get checkbook control over them? I can diversify out of the stock market […]

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Solo 401k Eligibility

Solo 401k Eligibility

As mentioned in a previous post, there are eligibility requirements for a Solo 401k. Although not just anyone can join the party, the majority of individuals are either eligible right now or can easily become eligible. Self Employment Activity The first of the two eligibility requirements for a Solo 401k is the presence of some […]

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What is a Solo 401k?

What is a Solo 401k?

Overview A Solo 401k is a special type of retirement plan. Like all 401ks, it is adopted by an employer to provide tax-advantaged savings benefits to its employees. What makes the Solo 401k different from other employer plans is that it is meant for self-employed individuals who don’t have employees of their own. The IRS refers to […]

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