Explore Solo 401k Investment Options with Taxanista
Solo 401k from Nabers Group provides more investment options, the highest contribution limits, and the lowest fees of any fully self directed retirement plan
Access on-demand webinars and courses to make the most of your Solo 401k. We've got you covered, from trainings on real estate to bitcoin to life insurance to CPA and banker interviews
Solo 401k helps you to compliantly structure your retirement account so you not only can purchase crypto, but hold your own keys, or have your assets professionally stored and insured. You choose which coins you want to buy
Join our Facebook group #SelfDirectedHeroes which is open to any self-directed investor. Once you join, you'll have access to our weekly and topic specific Q&A's, connect with like minded investors, and interact with our founder/CEO.
HOW TAXANISTA HELPS SOLO 401k CLIENTS
Just starting out and needing some help, this will increase your free time to bring in more business.
Get a thorough understanding of your cashflow and why there is or is not cash in your bank.
More time for you, growing your business. You've realized that you can't do it all.
Avoid unnecessary worry, work with Taxanista to plan for your desired tax outcome.
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Yes! ROTH is a special tax treatment that allows you to not only grow your money tax free, but make retirement distributions tax free as well.
You can have traditional and Roth funds all in one Solo 401k, and your spouse can too. This means it's like 4 retirement accounts in one.
Yes! And it's better than a self directed IRA because your Solo 401k is exempt from taxes on leveraged real estate profits.
Yes! Ever since the Pension Protection Act was passed in 2006, you have the ability to do a tax free transfer, or "rollover," of retirement funds from one retirement account to another.
You must meet 2 requirements to open a Solo 401k:
Entrepreneurship - This can be working as a freelancer, independent contractor, or business owner. This can be in the form of a sole proprietor or a formal corporation or LLC. Your entrepreneurship can be brand new, part time, or full time.
No full time employees - If you pay yourself a W2 paycheck that's fine, but no outside W2 employees who work 1000+ hours a year.
You need to track all 401k contributions, withdrawals and transfers, sales, and expenses, of any amount.
None. a 401k is already tax deferred.
An actual expense would be the annual administration fee, property appraisal fees, operating expenses of a rental property held in the 401k, etc. These expenses are not tax deductible, but do affect your 401k "value."
You can use accounting software or a spreadsheet. It MUST be backed up to the cloud regularly. Scan all source documents. A typical cloud storage service would be HubDocs.
Remember--computers die, and cell phones get lost or replaced.