When Should You Consider an Self-Directed Individual(k) or Self Employed 401k Plan?
- You are a sole proprietor with no employees other than your spouse or partner(s) whose only employees are self-employed partners and their spouses. The administrator of the plan is simply the business owner, their spouse or a partner. However, a designated third party works as well.
- You are looking for the largest potential contribution for a business without employees.
- You want the capability of borrowing from your plan.
- You want to purchase leveraged real estate in your plan and wish to avoid UBIT (Unrelated Business Income Tax)
An Individual(k) Plan, sometimes called a Solo(k), is THE best way to save for your retirement if you qualify. Click Here to learn why.
