Self-Directed Solo 401(k) Loan Rules and Regulations - Part 2
In Part 2 we will address repayment and tax considerations. See Part 1 for general information about solo 401(k) loans. How to avoid the...
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Whitney Nash, CPFA
- Nov 10, 2021
- 4 min
The IRS has Announced the 2022 Contribution & Benefit Limits
As a member of the National Association of Plan Advisors (NAPA), I received this article from them which explains the new (and past)...
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Whitney Nash, CPFA
- Nov 3, 2021
- 2 min
Self-Directed Solo 401(k) Loan Rules and Regulations - Part 1
Assuming the self-directed solo 401(k) plan contains loan provisions that allow for participant loans, as Nashional Self-Directed’s plan...
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Whitney Nash, CPFA
- Oct 27, 2021
- 3 min
Fix-It Guide - You Haven't Filed Form 5500 this Year for Your Solo 401(k)
The IRS provides a a fix-it guide for those who didn't file a Form 5500 this year which is outlined below, and can be found on their...
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Whitney Nash, CPFA
- Oct 20, 2021
- 1 min
Self-Directed Solo 401(k) Basics Explained with Examples in Today’s CPA's March/April 2021 Issue
Complete with info graphics and a real-life case study, the article below provides the most relevant information needed to understand...
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Whitney Nash, CPFA
- Oct 6, 2021
- 2 min
How to reconcile incorrectly coded 1099-R’s for your Self-Directed Solo 401(k).
Since self-directed solo 401(k)s allow for after-tax contributions that accrue tax-deferred gains/earnings, reporting issues for...
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Whitney Nash, CPFA
- Aug 11, 2021
- 4 min
Hardship Distribution Rules for Self-Directed Solo 401(k)s
"According to the following article from the IRS, although not required, a retirement plan may allow participants to receive hardship...
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Whitney Nash, CPFA
- Aug 4, 2021
- 6 min
IRS Guide to Required Minimum Distributions (RMDs) from your Retirement Account(s)
As found on the IRS's website: Retirement Topics — Required Minimum Distributions (RMDs) | Internal Revenue Service (irs.gov): "You...
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Whitney Nash, CPFA
- Jul 21, 2021
- 3 min
A Guide for Form 5500 - Due July 31st!
Stiff penalties may be assessed if you fail to file Form 5500 for your self-directed solo 401(k) on time. Here is a guide for determining...
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Whitney Nash, CPFA
- Jun 16, 2021
- 3 min
Form 5500 Filing - What values are needed to determine if the $250k threshold has been met?
When determining whether or not you must file From 5500 by July 31st (for plans with a December 31st year-end), it is important to know...
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Whitney Nash, CPFA
- Jun 9, 2021
- 3 min
Form 990-T Filing Requirements When UBIT is Generated in a Self-Directed Solo 401(k)
Generally speaking, only income generated from an active trade or business, such as a retail store, via a pass-through entity, like an...
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Whitney Nash, CPFA
- May 19, 2021
- 2 min
The exclusive benefit rule as it applies to self-directed solo 401(k)s
When considering the type of investments that you want and how they will be used in your self-directed solo 401(k) certain rules must be...
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Whitney Nash, CPFA
- Apr 28, 2021
- 2 min
Guidelines for Filing Form 5500 – Due 7/31 for 12/31 plan year-ends
Form 5500 is due July 31st for plans that have a December 31st year-end and $250,000 or more in plan (not account) assets as of 12/31 for...
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Whitney Nash, CPFA
- Mar 31, 2021
- 2 min
Can husband and wife accounts under the same solo 401(k) plan invest real estate together?
Since a self-directed solo 401(k) plan is for owner-only businesses, we frequently see husband and wife-owned businesses sponsor the plan...
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Whitney Nash, CPFA
- Mar 24, 2021
- 3 min
How to calculate, and record, your solo 401(k) contribution deduction on your 2020 tax return.
Here is calculation and recording guidance from IRS Publication 560, updated for 2020, for people who are contributing to their self...
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Whitney Nash, CPFA
- Jan 27, 2021
- 2 min
How to Maintain Good Money-Tracking Habits for your Self-Directed Solo 401(k)
One of the key benefits to adopting a self directed solo 401k is having complete control over the plan investments and assets as the plan...
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Whitney Nash, CPFA
- Nov 18, 2020
- 3 min
How Controlled Group Rules Affect Eligibility for Self-Directed Solo 401(k) Plans
As explained in previous posts and in this video, people who earn self-employment income as independent contractors and business owners...
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Whitney Nash, CPFA
- Oct 14, 2020
- 1 min
Can a Husband and Wife Combine their Retirement Funds into One Self-Directed Solo 401(k) Account?
To properly answer this question, let me first explain the difference between a Self-Directed Solo 401(k) Plan and a Self-Directed Solo...
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Whitney Nash, CPFA
- Sep 30, 2020
- 1 min
What is “earned income” that does NOT qualify as “self-employment” income for Self-Directed Solo K?
For purposes of qualifying to adopt and contribute to a Self-Directed Solo 401(k), you must have earned income from self-employment. But...
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Whitney Nash, CPFA
- Sep 16, 2020
- 3 min
Timing is Everything!
When does a Self-Directed Solo 401(k) need to be established to contribute for 2020? The timing matters for maximum tax-deferral.
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