One of the most attractive features of a solo 401k is the ability to invest in virtually any asset class. Instead of being limited to just investing in traditional assets like stocks, bonds, and ETFs, you can invest your plan in alternative investments like crypto, real estate, and startups. Investing in startups through a solo […]
OVERVIEW Considering starting a solo 401k? Download the Solo 401k Handbook: Everything you need to know in a handy PDF: There seems to be some confusion around what business entities are eligible to open a solo 401k account. Because it’s called a “solo” 401k, and also often referred to as an individual 401k or a one-participant […]
One of the most common questions we get at Ocho is: Can I open and contribute to a solo 401k if I have a full-time job with an employer? Yes, you can have a solo 401k even if you have a full-time job. While a solo 401k is a retirement plan for business owners and […]
One of the most common questions that comes up with business owners looking to set up a retirement plan is: Can I contribute to both a SEP IRA and a solo 401k, and will doing so allow me to contribute more money per year? Yes, in certain instance, if you have two separate businesses, you can […]
OVERVIEW The solo 401k and SEP IRA are retirement accounts created for small business owners and self-employed individuals. Both have the same contribution limits, offer tax-free compounding on investments, and all business entities are eligible. A solo 401k offers more tax advantages than a SEP IRA, but has stricter eligibility requirements. Depending on your business, one might make […]
2022 Solo 401k Limits & Deadlines 2023 Solo 401k Limits & Deadlines With a solo 401k, you contribute to your plan as both the employer and the employee. Contribution limits and deadlines are different for both sides, and can vary even further depending on your business entity. If you’re considering opening an account and making contributions, here’s a […]
OVERVIEW A solo 401k plan requires that you must not have any employees, including part-time employees who are at least 21 years of age, and have worked over 500 hours per year for 3 consecutive 12-month periods. There is only one exception to this rule, your spouse. Having your spouse work in your business makes them eligible to be […]
The highest contribution limits, ability to invest in any asset class with tax-free compounding, and a supersized Roth account.
OVERVIEW Purchasing real estate through a retirement account like the solo 401k can be extremely tax-advantageous. Not only do you get tax deferrals until you retire, you also get tax-free withdrawals if you purchase through a Roth solo 401k. In other words, you don’t pay tax on any rental income that your property makes, you don’t pay […]