5 Common Solo 401k Establishment Questions
Saturday, July 01
QUESTION 1. Do I have to transfer all of my existing IRAs and 401k plans as soon as I open the solo 401k plan? Or can I still transfer money later?ANSWER:When funding a solo 401k plan using IRAs for former employer plan funds, you are not required to transfer all of your IRAs and former employer ...
Megaroth 401k conversions of Existing E-Trade Solo 401k
Monday, June 05
QUESTIONS: My wife's business currently has a solo 401k set up through etrade. Is it possible to set up a solo 401k with a self-directed solo 401k provider and then transfer the assets from the etrade solo 401k? Also, I'm pretty happy with Fidelity for investing. If we set up with you, can we ...
Construction of a Spec. House Using Solo 401k Funds
Thursday, June 01
QUESTIONS:My goal - to construct a home to sell as a joint venture with my son in law while avoidingprohibited transaction and any UBIT tax.Scenario 1---- Form LLC making my solo 401k and son in law owners of 48% each. The other 4% would be owned by Sam (a state registered general contractor wh...
SOLO 401K INVESTING IN CANNABIS FARM AND STORE
Sunday, April 02
While the solo 401k rules allow you to invest in other businesses (provided that you do not own, work for, or otherwise have a relationship with this business), this type of investment (e.g., investing a solo 401k in a cannabis farm and/or store) would be subject to UBIT tax if the investment is ...
Can you use an IRA LLC to invest in your son's startup business?
Thursday, March 23
QUESTION:Can you use an IRA LLC to invest in a company that your son is starting up? I would own 30% of the company (investment of $50K from existing IRA accounts) and would be a passive investor? If you cannot use the LLC is there any method of using your retirement funds to do this?ANSWER:Whi...
ROBS 401k for Invesment Business: NO
Wednesday, March 22
BACKGROUNDI am self-employed as a licensed psychologist (S corp) and have a solo 401k retirement plan, held at TD Ameritrade, of approximately $100k in cash/equities. I am also a licensed real estate broker and have 15 years of experience investing in real estate. In addition, I have 10 years of ...