Webcam porn no sign up two way Consolidating 401 k plans

The solo 401(k) -- also known as the individual 401(k) -- was created by the Economic Growth and Tax Relief Reconciliation Act of 2001.

For the 2012 tax year, it allows businesses with only one full-time employee-owner to contribute up to ,000 to the plan (,500 for those 50 and older).

The benefit is even greater for business owners who are married.

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That means a married couple can sock away a whopping 0,000 annually."For the truly self-employed person, it's probably the absolute best plan available to them when you consider the amount of money you can put away," says Rick Meigs, president of 401k Help

How can people shelter so much income in a solo 401(k)?

It boils down to the two ways in which contributions are made.

For example if in addition to equities, you plan to invest in alternative investments such as real estate, tax liens, precious metals, trust deeds, notes, private equity, etc., then a self-directed IRA may be a good idea.

Also, if you are self-employed at least on a part-time basis, you can open a self-directed solo 401k instead which would also allow for the aforementioned alternative investments, but you would also qualify for a solo 401k loan (borrow form your solo 401k).

The primary reasons why many people elect to roll money from a former 401(k) to an IRA are that an IRA offers greater investment flexibility and greater withdrawal flexibility than a 401(k) plan.While a 401(k) platform typically offers a fixed list of mutual from which to choose, depending up on the institution providing the IRA, the IRA owner may invest in stocks, bonds, mutual funds and ETFs, CDs, etc.The broader investment choice also gives the IRA owner greater ability to control the fees and expenses. If you need immediate assistance, please call 1-800-374-9700 (TDD/TYY: 1-800-788-0002).We apologize for any inconvenience and appreciate your patience.If you are a freelancer, consultant or other self-employed person, the government offers a ,000 tax break that could help secure your retirement.