A strategic CPA I work with is curious on the rules around utilizing the Solo 401k for business owners that own multiple entities. I think I know the unfortunate answer in many scenarios, but I’d like to outline some scenarios below to see if any of them could utilize a Solo 401k. He has many clients that are a perfect fit for the Solo 401k that fall into the scenarios outlined below so it would be great for all of us if we could make something work.
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AuthorMark Nolan has been active in the 401k and IRA industry for over 18 years. Working as a 401k administrator at Nationwide Insurance Company; then working as a Compliance Officer and Manager at self-directed IRA/401k custodian companies such as Trust Administration Services Corporation (now owned by Equity Trust Company), to IRA Services Trust company. Mark is currently the Compliance Manager at MySolo401k.Net. Archives
July 2020
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