Posts Tagged ‘401k’

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Members of Megamastermind San Fernando Vallley Learned About 401k for Small Business from Self Directed Retirement Plan Expert

Thursday, October 16th, 2014


Los Angeles, CA (PRWEB) October 07, 2014

Dmitriy Fomichenko, president and founder of Sense Financial Services LLC, joined Pritam Sinha and other members of MegaMasterMind San Fernado Valley at their last meetings. Pritam Sinha, president of MegaMasterMind San Fernado Valley Chapter, has invited Dmitriy to give a presentation on 401k for small business and how it can help their group members to grow a successful retirement fund.

MegaMasterMind is an educational platform for real estate investor. All members gather once a month for a group meeting, where a guest speaker will give a presentation on a real estate investing topic. These educational meetings are crucial to help members learn from the best in the industry.

Joining the September meeting of Megamastermind San Fernando Vallley chapter, Dmitriy Fomichenko, president of Sense Financial Services LLC, introduced members to retirement planning solutions that can help real estate investors improve their retirement portfolio.

Members were introduced to ways to invest their retirement funds in real estate and grow their funds securely and effectively, using investment vehicles that they know best. Joining Megamastermind, members have been provided with all the tools and resources they need to successfully invest in real estate. However, many of them still have all their retirement funds invested in stocks and bonds instead. Dmitriy explained in his presentation that real estate investors can, and should invest in real estate or whichever assets they understand.

This is possible thanks to self directed feature of this 401k for small business. With this feature, account holders can take control of the retirement accounts without the need for a custodian. They will also be able to choose to invest in real estate, among a wide variety of investment options.

Sense Financial is California’s leading provider of retirement accounts with “Checkbook Control”: the Solo 401k and the Checkbook IRA. Over the years, they have assisted hundreds of clients obtain checkbook control over their retirement accounts while providing them with the ability to invest in virtually any investment class, including real estate, private lending, mortgage notes and much more without the need for custodian approval.

To learn more information about Solo 401(k) for self-employed real estate agents, please visit sensefinancial.com.







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IRA Financial Group Adds Features to its Solo 401(k) Plan 5500-EZ Annual Tax Reporting & Consultation Service

Friday, August 8th, 2014


New York, NY (PRWEB) July 22, 2014

IRA Financial Group, the leading provider of self-directed solo 401(k) plans, announces the expansion of its annual tax and compliance service to include the completion of the annual IRS information form 5500-EZ. IRA Financial Groups solo 401(k), also known as an individual 401(k) plan or self-employed 401(k) plan was designed specifically for sole proprietors, small businesses with no full-time employee and independent contractors such as consultants. A Solo 401(k) Plan can be adopted by any business with no employees other than the owner(s) or a spouse. The business can be established as a sole proprietorship, LLC, corporation, or partnership. IRA Financial Group offers all its Solo 401(k) plan clients the opportunity to receive annual tax consulting and CPA services, which includes the preparation of the IRS Form 5500-EZ. We are committed to providing all of our thousands of solo 401(k) clients with the opportunity to have their IRS Form 5500-EZ completed by specialized CPAs, stated, Susan Glass, a retirement tax specialist with the IRA Financial Group. It was important that our solo 401(k) compliance fee to include to completion of the IRS Form 5500EZ, because we wanted our clients to be able to focus on their business why we focus on their solo 401(k) plan, stated Ms. Glass.

There is generally no annual filing requirement unless the solo 401(k) plan assets exceed $ 250,000 in assets. In such a case, the Solo 401(k) Plan participant will need to file a short information return with the IRS (Form 5500-EZ). The IRS Form 5500-EZ is due on July 31. Now, IRA Financial Group is offering all its Solo 401(k) Plan clients the service of completing the IRS Form 5500-EZ for no additional fee. We wanted to make sure our solo 401(k) Plan clients that are required to file an IRS Form 5500-EZ are getting the necessary support they need to make sure the form is completed properly, stated Ms. Glass.

The solo 401(k) Plan, offers one the ability to make annual contributions of up to $ 52,000 for 2014 ($ 57,500 for those over the age of 50), borrow up to $ 50,000, as well as use his or her retirement funds to make almost any type of investment, including real estate, on their own without tax without requiring the consent of any custodian or person and from the comfort of a local bank account. Our 5500-EZ recordkeeping service is projected to give our solo 401(k) plan clients the piece of mind to know their plan will be maintained in full IRS compliance without any additional fees stated Mr. Bergman, a tax partner with the IRA Financial Group.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market’s leading provider of self-directed solo 401(k) plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.







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IRA Financial Group Introduces the Freedom Individual 401(k) Plan for Independent Contractors

Monday, February 17th, 2014


New York, NY (PRWEB) February 03, 2014

IRA Financial Group, the leading Solo 401(k) Plan provider, announces the introduction of the Freedom individual 401(k) Plan designed exclusively for independent contractors, such as consultants and real estate brokers. IRA Financial Groups new Freedom individual 401(k) Plan was designed to offer self-employed independent contractors a diverse and wide array of investment opportunities for their retirement funds, including real estate, precious metals, hard money lending, as well as stocks and mutual funds. In addition, the Freedom individual 401(k) plan will serve as a retirement vehicle allowing an independent contractor the ability to defer up $ 52,000 annually ($ 57,500 if over the age of fifty). Our IRS approved Freedom individual 401(k) Plan is perfect for any independent contractor looking to make traditional as well as non-traditional investments, such as real estate with their retirement funds, stated Adam Bergman, a tax partner with the IRA Financial Group.

According to Mr. Bergman, when using the Freedom individual 401(k) for investments, such as real estate, income and gains are tax-deferred back into the retirement account. More important, with IRA Financial Groups Freedom Solo 401k, real estate investments can be made on the spot as fast as you can write a check.

IRA Financial Group open Freedom individual 401(k) Plan was designed specifically to provide independent contractors with the ability to make high annual tax deferral contributions, as well as make a wide variety investment through a single retirement account from the comforts of a local bank account.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market’s leading individual 401k plan provider. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.







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Demand for Solo 401(k) Plan to Continue to Grow In Light of Annual Self-Directed IRA SEP Contribution Limitation Increase for 2014, According to IRA Financial Group

Wednesday, January 29th, 2014


New York, NY (PRWEB) January 14, 2014

Starting on January 1, 2014, the Internal Revenue Services (IRS) announced that the maximum one can contribute to a SEP IRA cannot exceed the lesser of: (1) 25% of compensation, or (2) $ 52,000 for 2014. Although the self-directed SEP IRA contribution limitation have increased by $ 1,000 to $ 52,000 for 2014, one is still able to reach the maximum contribution faster with a solo 401(k) Plan, stated Susan Glass, a tax professional with the IRA Financial Group.

Under the 2014 Solo 401(k) contribution rules, a plan participant under the age of 50 can make a maximum employee deferral contribution in the amount of $ 17,500 to an IRA Financial Group solo 401(k) Plan. That amount can be made in pre-tax or after-tax (Roth). On the profit sharing side, the business can make a 25% (20% in the case of a sole proprietorship or single member LLC) profit sharing contribution up to a combined maximum, including the employee deferral, of $ 52,000, an increase of $ 1,000 from 2013.

For plan participants over the age of 50, an individual can make a maximum employee deferral contribution in the amount of $ 23,000. That amount can be made in pre-tax or after-tax (Roth). On the profit sharing side, the business can make a 25% (20% in the case of a sole proprietorship or single member LLC) profit sharing contribution up to a combined maximum, including the employee deferral, of $ 57,500, an increase of $ 1,000 from 2013.

The annual Solo 401k contribution consists of 2 parts, an employee salary deferral contribution and an employer profit sharing contribution. The total allowable contribution limits are combined to get the maximum Solo 401K contribution limit.

According to Ms. Glass, Establishing a self-directed solo 401(k) Plan versus a self-directed SEP IRA provides many exciting advantages, including the ability to make employee deferrals in pre-tax or Roth of up to $ 17,500 or $ 23,000 if over the age of 50, borrow up to $ 50,000 tax-free and penalty-free, and the ability to buy real estate with a nonrecourse loan with any tax,

IRA Financial Groups solo 401K plan is unique and so popular because it is designed explicitly for small, owner only business. With IRA Financial Groups solo 401K plan, self-employed individuals or small business owners with no employees can benefit by making high annual contributions up to $ 52,000 – with an additional $ 5,500 catch-up contribution for those over age 50, make traditional as well as non-traditional investments, such as real estate, as well as borrow up to $ 50,000 or 50% of their account value tax-free and penalty free. IRA Financial Groups self-directed 401(k) plan is a trustee directed plan meaning the trustee and not the custodian is in charge of making investment decisions on behalf of the plan. With a solo 401(k) plan, in most cases the trustee will be the plan participant providing the plan participant with greater control and investment authority over his or her retirement funds. In addition, with IRA Financial Groups solo 401K Plan, the plan account can be opened at any local bank, including Chase, Wells Fargo, and even Fidelity.

The http://www.irafinancial Group [IRA Financial Group __title__ IRA Financial Group] was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP and Dewey & LeBoeuf LLP.

IRA Financial Group is the markets leading Checkbook Control Self Directed IRA and Solo 401k Plan Facilitator. We have helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate tax-free and without custodian consent!

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.







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IRS Announces Annual Solo 401(k) Plan Contribution Limitations to Increase by $1,000 to $52,000 & $57,500 respectively for 2014, According to IRA Financial Group

Tuesday, January 28th, 2014


New York, NY (PRWEB) January 13, 2014

Starting on January 1, 2014, the Internal Revenue Services (IRS) announced that self-employed individuals and small business owners that have adopted a solo 401K plan for the 2014 taxable year will be able to make tax-deferral employee and employer contributions of up to $ 52,000, which is an increase 2013. Self-employed individuals and small business owners, who are over the age of 50, will be able to make tax-deferral employee and employer contributions of up to $ 57,500, which is an increase of $ 1,000 from 2013. The high solo 401(k) Plan contribution limitations coupled with higher taxes will certainly make the Solo 401(k) Plan a more attractive retirement option for the self-employed in 2014, stated Adam Bergman, a partner with the IRA Financial Group. The IRS is trying to offer incentive to self-employed individuals and small business owners to save for their retirement by offering the increased tax deferrals for 2014, stated Mr. Bergman.

Under the 2014 Solo 401(k) contribution rules, a plan participant under the age of 50 can make a maximum employee deferral contribution in the amount of $ 17,500 to an IRA Financial Group solo 401(k) Plan. That amount can be made in pre-tax or after-tax (Roth). On the profit sharing side, the business can make a 25% (20% in the case of a sole proprietorship or single member LLC) profit sharing contribution up to a combined maximum, including the employee deferral, of $ 52,000, an increase of $ 1,000 from 2013.

For plan participants over the age of 50, an individual can make a maximum employee deferral contribution in the amount of $ 23,000. That amount can be made in pre-tax or after-tax (Roth). On the profit sharing side, the business can make a 25% (20% in the case of a sole proprietorship or single member LLC) profit sharing contribution up to a combined maximum, including the employee deferral, of $ 57,500, an increase of $ 1,000 from 2013.

The annual Solo 401k contribution consists of 2 parts, an employee salary deferral contribution and an employer profit sharing contribution. The total allowable contribution limits are combined to get the maximum 2014 Solo 401K contribution limit.

IRA Financial Groups solo 401K plan is unique and so popular because it is designed explicitly for small, owner only business. With IRA Financial Groups solo 401K plan, self-employed individuals or small business owners with no employees can benefit by making high annual contributions up to $ 52,000 – with an additional $ 5,500 catch-up contribution for those over age 50, make traditional as well as non-traditional investments, such as real estate, as well as borrow up to $ 50,000 or 50% of their account value tax-free and penalty free. IRA Financial Groups self-directed 401(k) plan is a trustee directed plan meaning the trustee and not the custodian is in charge of making investment decisions on behalf of the plan. With a solo 401(k) plan, in most cases the trustee will be the plan participant providing the plan participant with greater control and investment authority over his or her retirement funds. In addition, with IRA Financial Groups solo 401K Plan, the plan account can be opened at any local bank, including Chase, Wells Fargo, and even Fidelity.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP and Dewey & LeBoeuf LLP.

IRA Financial Group is the markets leading Checkbook Control Self Directed IRA and Solo 401k Plan Facilitator. We have helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate tax-free and without custodian consent!

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.







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