A Self-Directed Solo 401k With Checkbook Contro
l is a powerful tax planning tool, providing $10,000’s – up to $122,000 of annual tax deductions. Since the passing of tax reform in 2017, the Checkbook 401k has become even more important, as a key tool for maximizing Section 199A Qualified Business Income 20% tax-deductions
. For key 2018 year-end tax strategy and tips, listen to Commercial Real Estate Pro Network Show Episode 172: Solo 401K with Bernard Reisz
and J Darrin Gross. Continue reading “Podcast: Solo 401k 2018 Year End Tax Strategy & FAQ”
, Checkbook-Control IRAs
, and IRA-LLCs
are powerful alternative investment
vehicles with great tax benefits. However, for those that qualify, Checkbook Solo 401K Plans are far better vehicles for retirement-account real estate investing
. In this post will introduce the fundamentals of Checkbook Solo 401k Plans
and their benefits. Continue reading “Checkbook Solo 401k: Is It Better Than A Self-Directed IRA?”
QRPs & Checkbook Self-Directed Solo 401k Plans
, also known as Checkbook QRPs
, provide a powerful feature that can be leveraged in so many ways: A Checkbook QRP & Solo 401k Loan
QRP Loan Proceeds can be used to finance anything you’d like and the interest payments are made to yourself in the form additional deposits to your tax-sheltered QRP. Think of it as a QRP line of credit, requiring no bank underwriting, credit checks, or paperwork processing. (Caveat: Of course, it’s NOT truly a “line of credit” and that calling it a line of credit can be misleading. More on that below.)
Checkbook 401k Loan Interest Payments can be viewed as a way to make backdoor contributions – beyond the Solo 401k contribution limits – to your Checkbook Solo 401k tax advantaged retirement accounts. Once those interest payments are paid to your Solo 401(k) plan or QRP, those funds become additional plan assets that can be invested tax-free.
- Do you have debt to pay off?
- Do you want to purchase a new vehicle?
- Pay for education?
- Or, would you like to make an investment outside your QRP or Solo 401k?
The Checkbook Control QRP & 401k loan feature is your best option and in this post will cover all that you need to know to legally take advantage of this Checkbook QRP feature. Continue reading “QRP & Solo 401k Plan Loan: FAQ & Answers”