As a self employed real estate investor, are you wondering
how you are going to defer taxes on your income this year? Your IRA allows you to put in up to $6,500 per year depending on age, but that's not much help.And it's going to be a long slow road to build up that nest egg at that rate. If you're working for someone else, they may have a 401(k) plan you can participate in, but if you make the jump to self employment, then what ?
Enter the 401(k) for the self employed: A largely misunderstood and frequently overlooked retirement vehicle, the 401(k) provides huge tax benefits and investing opportunities.
You will learn:
oWhat a Solo (individual) 401(k) plan is, who can use one and who can’t!
oThe components of the plans and contribution limits:up to $52,000 per year
oHuge contributions for full-time self-employed
oFull-time in a job and working in your real estate business at the same time – when you can use a plan
oExamples of what you can do with them and with a Self Directed IRA
Rajeev Kotyan is a principal at NUA Advisors, and specializes in non-traditional investments including real estate, notes and other vehicles utilizing self-directed IRAs.Join us as we learn to expand our investing options.
This looks pretty interesting. Much higher max than traditional or Roth IRA. I'd qualify as being self employed without employees it looks like.
The following IRS links also explain the solo 401k.
Thanks @Mark Nolan !
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