Comments for Solo 401k Unlimited® Investing

Comment on Solo 401k provides checkbook control without a custodian or LLC by Dave B

Dave B — Thu, 01 Sep 2011 17:00:43 +0000

Hi,

It is my understanding that larger 401k/IRA plans like fidelity submit documentation to IRS about the amount and individual contributes to their retirement account each year for tax purposes. How is that handled in a solo 401k with checkbook features? If the only reporting requirement is when assets exceed 250,000, how is the amount contributed prior to this reported? I am also confused on the nature of the account that has to be set up at the local bank. Thanks!

Comment on Nabers Group Solo 401k vs. Custodian Solo 401k by Solo 401(k) vs. Self-Directed IRA… How is it better or different?

Solo 401(k) vs. Self-Directed IRA… How is it better or different? — Thu, 28 Jul 2011 23:10:59 +0000

[...] extra powers (self-trustee, participant loan, higher tax-deductible contributions, etc) are made possible by careful [...]

Comment on Solo 401k in Wall Street Journal Again by Amy

Amy — Mon, 25 Jul 2011 16:07:43 +0000

Can you invest in foreign currency inside of a Solo 401k?

Comment on Solo 401k in Wall Street Journal Again by Individual 401K

Individual 401K — Mon, 13 Jun 2011 21:43:42 +0000

Yeah, that wasn’t really smart. I mean, what were they thinking?

Comment on Solo 401k provides checkbook control without a custodian or LLC by Sam

Sam — Fri, 27 May 2011 20:45:41 +0000

For solo-401k checkbook control, would one open a personal checking account or a business checking account with whatever name you wish … ex. Name – 401k Trust? If a business acct is required, wouldn’t the name on the account have to be a registered business entity?

Comment on Solo 401k provides checkbook control without a custodian or LLC by Anne

Anne — Tue, 26 Apr 2011 04:14:21 +0000

Jeff — I understand that you can’t roll an IRA into a 401(k), only previous 401(k) funds. Would you please explain your answer to Terry? Thanks!

Comment on The Most Elusive & Dangerous Self-Directed Solo 401k Practice by John Trader

John Trader — Sat, 23 Apr 2011 14:23:26 +0000

Jeff I am confused about your statement, could you clarify that please. If many people do this as a business then do it as a business. Does it mean that if its considered a business activity its a business and not eligible for 401K. Cause even investing in mutual funds is a business that people pursue outside of 401K

What if people traded stocks and options actively in a self directed 401K will that be treated as a business, and get taxed. Cause people do trade as a business.

Thanks for the info.

Comment on Free Self-Directed Solo 401k!!! by Adam

Adam — Wed, 20 Apr 2011 20:36:20 +0000

I was just passing through and found your blog very interesting.

Comment on How To Get Help by Jim

Jim — Wed, 06 Apr 2011 15:43:09 +0000

Great! I welcome the new offering and look forward to speaking with you.

Comment on The Most Elusive & Dangerous Self-Directed Solo 401k Practice – Part 2 by Marta

Marta — Tue, 05 Apr 2011 16:23:37 +0000

Can i still open a solo401k for tax 2010? If so, Can I just do it with solo401k provider, similar to a IRA setup?

I have been filing sch c for my sole proprietor consulting buzz til now. I don’t need to borrow money or make complex transactions. I just want to be able to contribute to a solo401k to limit my tax liabilities . legally of course.

Any suggestion(s) is appreciated

Marta