Comments on: Finally a 401(k) plan just for one http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/ FSB Features Wed, 16 Dec 2009 18:30:20 +0000 http://wordpress.com/ hourly 1 By: Rajeev Rajput http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-13454 Rajeev Rajput Sat, 28 Feb 2009 15:59:24 +0000 http://fsbfeatures.blogs.fsb.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-13454 Can i transfer funds from SEP-IRA to solo 401k. Thanks Can i transfer funds from SEP-IRA to solo 401k. Thanks

]]> By: Anonymous http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-4827 Anonymous Wed, 20 Feb 2008 23:31:04 +0000 http://fsbfeatures.blogs.fsb.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-4827 have been in business for 6 years and maxed out my individual K each year. incredible tax advantage vs. working in dysfunctional corporate america!!! have been in business for 6 years and maxed out my individual K each year. incredible tax advantage vs. working in dysfunctional corporate america!!!

]]> By: thelocomono http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-139 thelocomono Fri, 15 Jun 2007 16:19:04 +0000 http://fsbfeatures.blogs.fsb.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-139 What is the primary difference between a 401k and a IRA for a solo business owner? What is the primary difference between a 401k and a IRA for a solo business owner?

]]> By: Paul - Columbus Ohio http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-65 Paul - Columbus Ohio Thu, 17 May 2007 21:18:46 +0000 http://fsbfeatures.blogs.fsb.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-65 I have a 403b at work - max it out. I assume I can't set up a 401k solo for my own business as well. Yes/no? I have a 403b at work – max it out.

I assume I can't set up a 401k solo for my own business as well.

Yes/no?

]]> By: Steve, Keller, TX http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-64 Steve, Keller, TX Wed, 16 May 2007 20:40:20 +0000 http://fsbfeatures.blogs.fsb.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-64 In today's environment where no one is sure what benefits social security and Medicare will provide in the future, everyone needs to save as much as they are able today. My issue is with the IRA limitations preventing well compensated individuals from making contributions in certain circumstances. Why not remove the limitation on income and allow all individuals regardless of compensation to make the maximum contributions permitted each year? In today's environment where no one is sure what benefits social security and Medicare will provide in the future, everyone needs to save as much as they are able today. My issue is with the IRA limitations preventing well compensated individuals from making contributions in certain circumstances. Why not remove the limitation on income and allow all individuals regardless of compensation to make the maximum contributions permitted each year?

]]> By: Bill Robertson, Kansas City, MO http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-63 Bill Robertson, Kansas City, MO Wed, 16 May 2007 20:26:55 +0000 http://fsbfeatures.blogs.fsb.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-63 FYI: For plan years beginning in '07, one-participant plans with assets less than $250K will be exempt from the 5500 filing requirement. The Pension Protection Act of 2006 change the amount from $100K to $250K. FYI: For plan years beginning in '07, one-participant plans with assets less than $250K will be exempt from the 5500 filing requirement.

The Pension Protection Act of 2006 change the amount from $100K to $250K.

]]> By: Brian, Nashville, TN http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-62 Brian, Nashville, TN Wed, 16 May 2007 16:47:15 +0000 http://fsbfeatures.blogs.fsb.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-62 To be clear, a "solo 401k" is no different than a 401k plan. Adding "solo" or "individiual" is a marketing gimmick to sell a 401k plan to a sole proprietor. Every single feature found in a so-called solo 401k can be found in a 401k sponsored by a partnership, a corporation, or an LLC. No doubt, a 401k plan is good savings vehicle for the self-employed. To be clear, a "solo 401k" is no different than a 401k plan. Adding "solo" or "individiual" is a marketing gimmick to sell a 401k plan to a sole proprietor. Every single feature found in a so-called solo 401k can be found in a 401k sponsored by a partnership, a corporation, or an LLC.

No doubt, a 401k plan is good savings vehicle for the self-employed.

]]> By: Jeff Bollinger, Salt Lake City Utah http://fsbfeatures.blogs.fsb.cnn.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-61 Jeff Bollinger, Salt Lake City Utah Wed, 16 May 2007 16:12:48 +0000 http://fsbfeatures.blogs.fsb.com/2007/05/15/finally-a-401k-plan-just-for-one/#comment-61 We have been offering a standard and Roth 401K plan to our clients for over a year now because a lot of the big financial firms have not looked to help the small business person (not enough money in the planf). Not only do these small plans offer clients the tax deferral option that a sepp or keogh does not offer, they can also be set up to hold investments in their field of expertise ie. a real estate developer having the ability to develop real estate in their own plan. I am quite surprised that the larger firms have not jumped on the Roth 401K yet? We have been offering a standard and Roth 401K plan to our clients for over a year now because a lot of the big financial firms have not looked to help the small business person (not enough money in the planf). Not only do these small plans offer clients the tax deferral option that a sepp or keogh does not offer, they can also be set up to hold investments in their field of expertise ie. a real estate developer having the ability to develop real estate in their own plan. I am quite surprised that the larger firms have not jumped on the Roth 401K yet?

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