The Solo 401k plan is designed for owner-only businesses, but are there any Solo 401k minimum income requirements? How much does your business need to make to qualify for a Solo 401k account? Sense Financial explains more about the qualifications you must meet in order to set up a Solo 401k plan. Solo 401k Minimum Income Requirements There is […]
The Solo 401k plan is for self-employed professionals and business owners without any full time employees. However, what happens if one day you want to grow your business and hire some full time employees? Find out more about the Solo 401k and full time employees in this Solo 401k Quick Tip video: Solo […]
Plan owners of the Solo 401k plan have access to the Solo 401k loan feature, which allows them to borrow money from the plan for any reason. Some plan owners consider borrowing from their Solo 401k loan to pay student debt, but is it a wise decision? Find out more in this Solo 401k Quick Tip […]
Plan owners of the Solo 401k plan have access to the Solo 401k loan feature. The plan owners are allowed to borrow from the plan to cover their cash needs for up to 5 years. What happens if the plan owners cannot pay back Solo 401k loan and interest within this period? Find out more in […]
Pop Quiz: How much can you borrow from a Solo 401k plan with a total value of $60,000? $60,000 $30,000 $50,000 Answer: B. A Solo 401k plan participant can borrow up to $50,000 or 50% of the total plan account value, whichever is less. Have you considered borrowing money from your Solo 401k plan, either to […]
IRA Prohibited Transactions Even though an IRA is allowed to hold real estate, there are still rules and regulations applied. Learn about IRA Prohibited Transactions in this video. We will discuss prohibited assets, disqualified persons, and personal gains from IRA.
With the Solo 401k plan, the plan owners serve as the plan trustee and have the ability to make many decisions concerning the plan. One of those decisions is the type of bank account that will be set up for the Solo 401k plan. Watch this Solo 401k Quick Tip video to learn more about […]
IRA Non-Recourse Loan Qualification Learn about IRA Non-Recourse Loan Qualification in this educational video. Unlike traditional loans, the lender will not look at your credit history or personal asset, because these do not apply to a non-recourse loan. In this video, we will explain what criteria lenders will look at to determine a IRA non-recourse loan […]
What is the maximum amount you can contribute to a Roth Solo 401k without catch-up contribution in 2015? $53,000 $18,000 $5,500 Answer: B Many investors know that all Solo 401k plans offered by Sense Financial comes with a Roth account, but many of them do not know how much they can contribute to […]
What is an IRA Non Recourse Loan Learn about IRA Non Recourse Loan in this video. We will discuss the differences between a non-recourse loan and a traditional loan. Understand the concept can help you utilize this powerful investment tool to leverage real estate investment in your IRA.
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