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The Roth Solo 401k Tax Benefits combines the advantages of a Solo 401k with the tax benefits of a Roth IRA. The tax advantages of the plan are powerful. The Roth Solo 401k offers tax free growth, tax free investing, and tax free transfer. The Roth Solo 401k is an IRS-qualified plan that is funded by after […]
Sense Financial Services will be featured in an upcoming segment of 21st Century Business, the award-winning television show seen on Fox News, CNBC, and Bloomberg International. Sense Financial founder and president recently returned from filming the segment. 21st Century Business presents an in-depth look into the issues and events in various business industries. Each segment […]
Many focus on saving for retirement, but few focus on diversifying tax exposure. Having all of your retirement income subject to taxes can quickly drain the savings you’ve worked so hard for. Structuring tax diversification is an effective way to maximize retirement savings. Roth conversions can help achieve this. The Roth 401k gives the advantage […]
The most well-known advantage of the Roth account is its tax-free withdrawals. All withdrawals from a Roth account are tax-free if the participant is at least 59 ½ years old and the account has been held for five years. This can be an advantage for those who expect to be in a higher tax bracket […]
Achieving a financially secure retirement requires planning. A retirement strategy may include a self-directed Solo 401k retirement solution, the IRS-qualified plan for the self-employed and small business owner. Advantages such as high Solo 401k contribution limits enable plan participants to meet their retirement goals, build and diversify their savings for the future. The Solo 401k […]
401k plan sponsors can now offer participants the ability to convert pre-tax contributions to Roth contributions. This may be an attractive option in light of potential changes on the tax horizon. The recently passed American Taxpayer Relief Act (ATRA) gives plan sponsors the ability to offer participants the option to convert pre-tax contributions to Roth […]
Self-directed retirement plans such as the Checkbook IRA and Solo 401k allow investment of funds into both traditional and non-traditional assets. Many plan participants take advantage of this capability by investing in real estate. Funds from these accounts can be invested in a wide range of real estate opportunities, from rental properties to foreclosures to […]
Unrelated Business Taxable Income (UBTI) was defined by the Internal Revenue Code to ensure fair competition between businesses. It was based on the assumption that those with tax-exempt status would have unfair advantage over regular businesses without tax-exempt status. In order to level the playing field for all businesses, the IRS set a tax on […]
The closure of hundreds of banks over the last few years have ushered in stricter lending practices. Financial institutions are more hesitant to lend money, making it harder for small business owners and self-employed to obtain loans. The Solo 401(k) loan feature allows participants to borrow from the Solo 401k plan. This capability gives small […]
The Solo 401k Plan is a retirement account that meets all the requirements in Section 401 of the Internal Revenue Code. As a qualified plan, the Solo 401k Plan does not have special restrictions on who can serve as plan trustee. This flexibility allows the participant to serve as trustee over the plan. Solo 401k Rules […]
