UPDATE TO POST: Timing is Everything!
An important note about the Self-Directed Solo 401(k) plan adoption deadline has been added to the bottom of this article, originally...
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Whitney Nash, CPFA
Dec 2, 20204 min read
Roth FAQs Part 2: In-Plan Roth Rollovers Within a Self-Directed Solo 401(k)
As stated on the IRS.gov website, here is some important information regarding in-plan Roth rollovers within a Solo 401(k). Since these...
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Whitney Nash, CPFA
Nov 25, 20204 min read
Roth FAQs Part 1: Making Designated Roth Contributions to a Self-Directed Solo 401(k)
As stated on the IRS.gov website, here is some important information regarding Roth contributions to a Solo 401(k). Since these Q&As are...
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Whitney Nash, CPFA
Oct 28, 20201 min read
2021 Contribution and Benefit Limits Announced by the IRS
The IRS recently announced the 2021 contribution limit adjustments for retirement plans! As far as Self-Directed Solo 401(k)s go, the...
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Whitney Nash, CPFA
Oct 21, 20202 min read
Tax Treatment of Self-Directed Solo 401(k) Loans
How to avoid the taxation of a loan from a Self-Directed Solo 401(k)? If it becomes taxable, how is it treated and how is it reported to...
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Whitney Nash, CPFA
Oct 7, 20201 min read
4 Key Advantages to Having a Self-Directed Solo 401(k) Instead of a SEP IRA
Which is better, a SEP IRA or a Self-Directed Solo 401(k)? I recently wrote this article for The Daily CPA, an online publication for tax...
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Whitney Nash, CPFA
Sep 30, 20201 min read
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 23, 20203 min read
What is the Difference Between Designated Roth and Voluntary After-Tax Contributions?
Self-Directed Solo 401(k)s offer two advantageous ways to increase tax-free money in retirement by allowing for designated Roth...
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Whitney Nash, CPFA
Sep 16, 20203 min read
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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Whitney Nash, CPFA
Sep 9, 20201 min read
How to Determine Worker Classification Status and Why it Matters
When one-person/nonemployer business owners consider the possibility of bringing on their first worker, it is imperative that CPAs and...
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Whitney Nash, CPFA
Sep 2, 20202 min read
The time is upon us for an end-of-year tax review, but a retirement savings review too? Absolutely!
As Autumn nears and the end of the year inches closer, many people take a look at their tax situation year-to-date to see what they might...
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Whitney Nash, CPFA
Aug 26, 20202 min read
The consequences of making excess salary deferrals and how to correct it
Self-Directed Solo 401(k)s, among other retirement plans, allow the account holder to make salary deferral contributions each year. In...
63 views0 comments
Whitney Nash, CPFA
Aug 12, 20202 min read
Part 2: Taxes Imposed on, and How to Correct, a Prohibited Transaction.
In case you missed it, here is our post from last week: Part 1: What are Prohibited Transactions and Disqualified Persons? The following...
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Whitney Nash, CPFA
Jul 29, 20201 min read
Don’t get hit with costly penalties! Form 5500 series filing deadline is this Friday, July 31st!
For Self-Directed Solo 401(k) plans that had $250,000, or more, in assets as of December 31, 2019 and have a plan year-end date of...
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Whitney Nash, CPFA
Jul 22, 20203 min read
Failure to file Form 5500 – How to fix the mistake and request penalty relief.
If your Self-Directed Solo 401(k) plan has a cumulative balance of $250,000 or more by the end of the year, you will need to file Form...
138 views0 comments
Whitney Nash, CPFA
Jul 8, 20203 min read
How to Calculate Self-Directed Solo 401(k) Contribution Amounts
The Self-Directed Solo 401(k) allows for pretax contributions to be made two different ways: Salary Deferral and Profit-Sharing. Here is...
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Whitney Nash, CPFA
Jun 17, 20203 min read
Set Up as an S-Corporation and Owned by Partners? Here’s How a Self-Directed Solo 401K Works for You
If you have a business that is organized as an S-corporation (S-corp) and owned by one or more partner(s), or shareholders, you can set...
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Whitney Nash, CPFA
Jun 3, 20202 min read
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
Apr 20, 20202 min read
Form 5500 Series - Which one do you need to file?
If your Self-Directed Solo 401(k) has $250k, or more, in it, Form 5500-SF or Form 5500-EZ must be filed with the IRS - but which one?...
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Whitney Nash, CPFA
Apr 20, 20201 min read
Is the $250k threshold for Form 5500 filling based on the balance of the plan or the account?
When determining if you must file From 5500-SF or Form 5500-EZ or not, it is important to know what funds must be included in the...
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*Our Blog and Video posts are for informational purposes only. You should always do your own research, due diligence and consult with the appropriately licensed or certified professional before taking any action. At Nashional Self-Directed we are not CPAs, Attorneys, or Investment Advisors. If tax, accounting, legal or investment advice is needed, the appropriately licensed or certified professionals should be consulted.
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