My Solo 401k Financial
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Latest posts
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Self-Directed IRA Real Estate Rules: Not One Day of Personal Use (IRC 4975)
Self-Directed IRA Real Estate Rules: Not One Day of Personal Use (IRC 4975) By Mark Nolan, Founder/ Compliance Officer, My Solo 401k Financial · Published November 1, 2026 Direct answer: Self-Directed IRA real estate is legal, but the property must be held purely as an…
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2026 Sole Proprietor Solo 401k: Exact Income Needed to Max Out Contributions
2026 Solo 401(k) Income Thresholds: $252,317.72 for the $72,000 Max Direct Answer: The 2026 Solo 401(k) income thresholds for sole proprietors depend on the contribution type. A sole proprietor with no day-job plan needs $252,317.72 of Schedule C line 31 net income for the…
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Solo 401k for 1099 Contractors: Only 1099-NEC Income Qualifies
Solo 401k With 1099 Income: No LLC Needed, Up to $72,000 for 2026 By Mark Nolan, Founder/ Compliance Officer, My Solo 401k Financial · Published October 21, 2026 Direct answer: A self-employed contractor can open a Solo 401k with 1099 income when that income is reported on Form…
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S Corp Solo 401(k) W-2 Salary Needed to Max Out in 2026
S Corp Solo 401(k): $190,000 W-2 Maxes Pre-Tax, $72,000 Maxes Roth Direct answer An S Corp Solo 401(k) owner under age 50 needs $190,000 of W-2 wages to make the full $72,000 pre-tax contribution for 2026. The requirement rises to $288,000 when a day-job plan has already used…
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Solo 401k Business Entity Change: Same $72,000 Limit, Different Math
Solo 401k Business Entity Change: Same $72,000 Limit, Different Math Direct Answer A Solo 401k business entity change does not require a new plan. When a sole proprietorship becomes an LLC taxed as an S corporation, the new entity becomes the plan sponsor and the existing plan…
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Solo 401k Loan: Borrow Up to $50,000 to Pay Off 25% APR Card Debt
Solo 401k Loan: Borrow Up to $50,000 to Pay Off 25% APR Card Debt A Solo 401k loan lets a self-employed owner borrow the lesser of 50% of the plan balance or $50,000 to pay off credit card debt. The owner repays the plan over five years. The interest, set at the prime rate plus…
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Solo 401(k) at Any Age: $72,000 Under 50, $83,250 at 60–63
Solo 401(k) at Any Age: $72,000 Under 50, $83,250 at 60–63 Direct Answer: A Solo 401(k) lets self-employed owners with no full-time non-owner, non-spouse employees contribute up to $72,000 for 2026. Owners age 50 to 59, or 64 and older, add an $8,000 catch-up, for up to $80,000.…
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How does a ROBS 401(k) work?
How Does a ROBS 401(k) Work? Direct Answer: A ROBS 401(k) — rollover business startup — lets an entrepreneur use retirement funds to buy stock in their own C corporation without triggering a taxable distribution. Funds move from an IRA or former employer plan into the ROBS…
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Solo 401k Prohibited Transaction: The $200,000 Vacation Home Mistake
Solo 401k Prohibited Transaction: The $200,000 Vacation Home Mistake Direct Answer: A Solo 401k prohibited transaction example is a plan owner personally using property their own plan holds. In the webinar’s case, “Fred” rolled $300,000 into a self-directed Solo 401(k) and used…
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Solo 401k Loan Rules: 10 Myths That Could Cost You $50,000
Solo 401k Loan Rules: 10 Myths That Could Cost You $50,000 Direct Answer A Solo 401k loan lets self-employed individuals borrow up to 50% of their plan balance or $50,000 — whichever is less — without income taxes or early-withdrawal penalties, provided strict IRS repayment…