Excellent Content at Note Camp!

[Jennifer McMurtray]

Tyler Carter of NuView IRA just gave a killer presentation on the Solo 401(K) plan, which is something you might be eligible for if you are self-employed and don't have common law employees. Between the contributions you make to it as an employee and the profit sharing contributions your employer (you) makes on your behalf, you could sock away up to $53,000/year (or $59,000 if you are over 50)! Even better, you can use that money to invest in notes tax-differed or tax free. The account has no minimum required distribution at any age, is exempt from UBIT and UDFI taxes, and if you set it up as a Roth (and convert all the employer contributions to a Roth), you can pass it along to your kids upon your death tax free. Oh, and you can take out loans from it, for any purpose (up to 50% of the account and up to $50K).

Tyler said this wasn't sexy.  But it is!

#notecamp #scottcarson #chasethompson #nuviewira #tylercarter

[Dmitriy Fomichenko]

@Jennifer McMurtray

Perhaps your misunderstood, but RMD do apply for the Solo 401k plan. 

The only account that is exempt from RMD is Roth IRA.