Spousal Inclusion in a Solo 401k

If you include your spouse in your Solo 401k you could tap into higher contributions, and the ability to co-invest together. We cover: - How to maximize contributions (up to $127,000 tax deductible) by including your spouse in your Solo 401k plan - When and how to co-invest with your spouse under a Solo 401k - How to keep the books and funds clean when you and your spouse are in one plan Interested in starting your own Solo 401k? Contact us at for a free consultation!...(read more)

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If you are a small business owner, you may be familiar with the concept of a Solo 401k. This type of retirement plan is designed specifically for self-employed individuals and small business owners who do not have any employees. It allows you to contribute up to $19,500 per year ($26,000 if you are 50 or older) and offers a variety of tax benefits. One of the key benefits of a Solo 401k is the ability to include your spouse as a participant in the plan. This can be a great way to maximize your retirement savings and take advantage of the tax benefits of a Solo 401k. When you include your spouse in the plan, you can both contribute up to the maximum amount allowed for the year. This means that you can contribute a combined total of up to $39,000 ($52,000 if you are both 50 or older). This can be a great way to quickly build up your retirement savings. In addition to contributing more money to the plan, spousal inclusion also offers other benefits. Your spouse can take out a loan from the plan, which can be used for any purpose. This can be a great way to access funds for a home purchase or other large expense. Finally, spousal inclusion can also help you manage your taxes. When you include your spouse in the plan, you can take advantage of the “spousal rollover” option. This allows you to roll over funds from your spouse’s retirement plan into your Solo 401k. This can help you manage your taxes by allowing you to spread out the taxes due on the funds over a longer period of time. Including your spouse in your Solo 401k can be a great way to maximize your retirement savings and take advantage of the tax benefits of a Solo 401k. It can also help you access funds for a large purchase and manage your taxes more effectively. If you are considering setting up a Solo 401k, make sure to talk to your financial advisor about the option of spousal inclusion. https://inflationprotection.org/spousal-inclusion-in-a-solo-401k/?feed_id=74873&_unique_id=63ff757945a05 #Inflation #Retirement #GoldIRA #Wealth #Investing #bitcoinira #checkbook401k #CheckbookIRA #individual401k #investing #Investments #Lending #preciousmetals #privatenotes #realestate #realestate401k #realestateIRA #robs #selfdirectedira #selfdirected401k #Solo401k #spousalcontributions #startups #SpousalIRA #bitcoinira #checkbook401k #CheckbookIRA #individual401k #investing #Investments #Lending #preciousmetals #privatenotes #realestate #realestate401k #realestateIRA #robs #selfdirectedira #selfdirected401k #Solo401k #spousalcontributions #startups

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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