Solo 401k Promissory Note Interest Rate
Thursday, March 16
QUESTIONWhat sort of documentation do I need to structure for a promissory note loan from my solo 401k to an unrelated 3rdparty? I can set the interest rate and term correct?ANSWER:Yes you can set the terms of the solo 401k promissory note investment. The interest rate needs to be a rate that w...
Move the Pre-tax Portion of the Solo 401k to the Roth Solo 401k
Friday, March 10
If we want to move amounts from the pre-tax portion of the solo401k to the Roth portion of the solo401k:QUESTION 1) How do we do that if we are moving from a Wells Fargo or Fidelity Pre-Tax account to a Wells Fargo or Fidelity Roth account inside the Solo401k? How do we document that on our tax ...
Bank Accunt or Brokerage Account Self-Directed Checkbook Solo 401k
Saturday, March 04
Even though, the solo 401k business owner can serve as trustee of his or her own solo 401k plan, the liquid funds have to be held with an approved depository taking institution. Most self-directed solo 401k owners will either use a bank or a brokerage firm to hold the liquid cash, which can then ...
Does UBIT Apply to Solo 401k Restaurant Investment?
Wednesday, January 18
QUESTIONS We opened a Solo 401k Trust and we now have a compelling investment opportunity in a restaurant. As I've read , the net income from a business investment, made from a 401k trust, would be subject to UBIT.I have a couple of questions regarding this. I don't know exactly how the income o...
Fund Real Estate Operating Company Using a ROBS 401k
Saturday, December 17
QUESTION:Can I invest a 401k in real estate?ANSWERS:1) One threshold issue is whether your objective is really to invest your retirement funds in real estate. If that is the case, you can achieve this via the solo 401k as a 401k plan allows for investing in real estate. This would be done v...
Making Contributions to Both a 457(b) Government Plan and a Solo 401k
Tuesday, December 06
QUESTION:I am a police officer currently enrolled in a 457b plan and maxed out at $36k with the catch up. I make about $106k gross, before deductions. I also contribute the annual $5500 allowance to an IRA.I have been doing side jobs for years and file a Schedule C for the 1099's I get from vario...