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Solo 401(k)

The Solo 401(k) has features and benefits that are very appealing.  Sole proprietorships, partnerships, subchapter S and C corporations, and LLCs qualify for a Solo 401(k).

Benefits of Solo 401(k)

1) Solo Roth 401(k) salary deferral option.

2) 2010 and 2011 Solo 401(k) contribution limit of $49,000 or up to $54,500 if age 50+.

3) Solo 401(k) contributions are discretionary and can be increased, decreased or stopped.

4) Contributions into a Solo 401(k) are 100% tax deductible.

5) Contributions and investment earnings grow tax deferred.  After age 59 1/2 withdrawals can be withdrawn without penalty. Federal and state taxes if applicable will apply.

6) Loans are permitted with a Solo 401(k) up to a maximum of $50,000. IRS rules do no allow loans with IRAs, SEP IRAs, or Keogh plans.

Learn more about the Solo 401(k).

 

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Beacon Capital Management Advisors (BCM) is experienced in setting up retirement plans for our clients. BCM provides retirement plans to the self employed, freelancers, entrepreneurs, independent contractors and small business owners and is registered in 50 States. Complete the form below and a BCM Advisor will promptly respond to your inquiry.

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Disclosures:

*The information on this page is for informational purposes only and does not constitute, and should not be construed as, professional, legal or tax advice. To determine your individual tax situation and specific needs, please consult a professional tax advisor.

*Information contained in these sections merely highlight some benefits. There are risks involved with all investments that could include tax penalties and risk/loss of principal.