1 / 13

Things You Should Know About Solo 401k

Are you self-employed? Do you have a solo 401k retirement plan? Do you know everything about your retirement saving plan? Checkout things you should know about solo 401k and how you can learn everything about solo 401k without having to pay anything at all.

Dear401KJ
Télécharger la présentation

Things You Should Know About Solo 401k

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Things You Should Know About Solo 401k A Presentation of Dear 401k J The Leading 401k Advice Platform in California

  2. What Is A 401k Plan? 401k is an employer sponsored and the most popular retirement saving plan with more than 52 million active participants. If we are to wrap up 401k plan in simple and short way, a 401k participant (employee) tells employer how much money should go into the account that is usually not more than 15%.

  3. Features Of A Solo 401k Plan

  4. Solo 401k Plan Establishment A solo 401k is strictly for solo proprietors with no additional employees. Contribution may also come from spouse if he or she earns any income from your business. Partnerships with no employees other than partners can also establish a solo 401k and their spouses can also contribute in case as above.

  5. Solo 401k Plan Trustee and Administrator A solo 401k plan administrator and trustee could be the business owner, partner, spouse or any designated third party.

  6. Solo 401k Plan Salary Deferral Contributions Salary deferral contributions up to $18,000. No more than $265,000 of pay can be taken into account and must not exceed 100% of pay. $53,000 is the employer maximum and salary deferral.

  7. Solo 401k Catch-Up Contributions An additional $6,000 contribution in salary deferrals for individuals age 50 or older beyond the $18,000. This contribution does not count towards the maximum total contribution limit of $53,000.

  8. Solo 401k Employer Contributions To maximum of $53,000 up to 20% employer contributions allowed for self-employed. This limit also applied to salary deferral contributions.

  9. Solo 401k Rollover Just like the traditional 401k plan, solo plan also allows rollovers and transfers from traditional IRA, SEP and Qualified Plans, governmental 457 plans, 401k and 403b. SIMPLE IRAs are allowed in solo 401k on a condition of two years holding period.

  10. Solo 401k Loans Loans are available to all participants including traditional 401k and individual 401k. Loans are also available for unincorporated business owners.

  11. Solo 401k Government Reporting IRS 5500-EZ.

  12. Getting Access To Money Until a participant reach age 59.5, the money must be kept invested in the retirement account. Withdrawals before 59 are subject to income tax with additional 10% early withdrawal penalty.

  13. A Complete Portal For Solo 401k Learn everything you need to know about the most popular retirement saving plan “401k” and solo 401k without having to pay a single penny out of your exertion earned retirement money. All you have to do is visit Dear 401k J and post your everyday retirement, 401k, investment, and other money questions, and get answers and professional advice from certified financial advisors in California. Visit www.Dear401kJ.com now and learn more about the best 401k retirement planning platform in California.

More Related