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...
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
- 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
- Sep 22, 2021
- 3 min
How to Fund a Self-Directed Solo 401(k)
There are several ways to put money into your self-directed solo 401(k) account. It is a great vehicle to consolidate other pre-tax...
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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
- Jun 2, 2021
- 2 min
Converting Pretax Self-Directed Solo 401(k) Funds to the Roth Account in 2021 – Items to Consider –
If you are considering converting some or all of your pretax self-directed solo 401k funds to your plan’s designated Roth solo 401k...
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Whitney Nash, CPFA
- May 26, 2021
- 5 min
A Guide for Deducting Business Expenses
Running a small business requires a lot of self-education on a number of topics. We know our product or service, but knowing all of the...
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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
- Mar 17, 2021
- 3 min
5 Strategies for Increasing Tax-Free Money in Retirement Using a Self-Directed Solo 401(k)
The Daily CPA recently published my article: 5 Strategies for Increasing Tax-Free Money in Retirement Using a Self-Directed Solo 401(k)....
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Whitney Nash, CPFA
- Mar 10, 2021
- 1 min
Today’s CPA's March/April Issue Includes a Feature Article by Whitney Nash
The Texas Society of CPA’s bimonthly magazine, Today’s CPA, just released the online version (print to follow in the coming weeks) of...
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Whitney Nash, CPFA
- Mar 3, 2021
- 2 min
2020 Self-Directed Solo 401(k) Contribution Deadline has Been Extended for Texas Storm Victims
According to an IRS news release on February 22nd, “[Texas] Victims of winter storms that began February 11, 2021 now have until June 15,...
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Whitney Nash, CPFA
- Feb 24, 2021
- 6 min
SEP IRA vs Solo 401(k) - How do they differ?
When it comes to retirement plans for people who (1) earn income from self-employment, and (2) don’t have any full-time W-2 employees...
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Whitney Nash, CPFA
- Feb 3, 2021
- 3 min
Case Study – How one person reduced their tax liability by 43%!
There’s still time to save/defer your tax liability for 2020. Here’s a case study as an example of how a self directed solo 401k can help...
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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
- Jan 20, 2021
- 2 min
Unrelated Business Income Tax (UBIT/UBTI) as Related to Self Directed Solo 401ks and IRAs
UBIT applies to both IRAs & Solo 401k plans. Since IRAs and Solo 401ks are tax-deferred retirement accounts, they are not subject to...
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Whitney Nash, CPFA
- Dec 16, 2020
- 1 min
Self-Directed Solo 401(k)s - The Business Deduction That Keeps on Giving
Business owners and people with 1099 income are always looking for deductions to help off-set their income tax liability. One of the best...
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