Roth Solo 401(k) Plan Voted Best Tax Shelter for the Self-Employed - IRA Financial Group Survey Shows

Share Article

Roth Solo 401(k) option offers highest Roth after-tax type contribution of any retirement plan

Self Directed Roth IRA Investor

The Roth Solo 401(k) Plan allows investors to make more than three times that after-tax contributions of a Roth IRA

IRA Financial Group, the leading provider of self-directed solo 401K and Roth Solo 401K plan, announces the results of if its recent client survey showing the Roth Solo 401(k) plan option as the most attractive tax shelter for self-employed investors in the first half of 2012.

The Roth solo 401K option functions like a Roth IRA – the plan participant makes after tax contributions and future withdrawals are tax-free. However, with a Roth IRA an individual is limited to just $5,000 annually ($6,000 if over the age of 50), whereas, with a Roth Solo 401K Plan, the individual is able to make after tax-contributions of up to $17,000 annually ($22,500) if the plan participant is over the age of 50). “The Roth Solo 401(k) Plan allows investors to make more than three times that after-tax contributions of a Roth IRA,” stated Maria Ritsi, a senior paralegal with the IRA Financial Group.    IRA Financial Group interview over two-hundred self-employed clients and asked what retirement solution offered the greatest tax shelter, and over 68% stated the Roth solo 401(k) Plan,” stated Ms. Ritsi.

IRA financial Group’s Solo 401(k) Plan offers one the ability to make annual contributions of up to $50,000 ($55,500 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 on their own tax-free and penalty free without requiring the consent of any custodian or person. “Establishing a Roth Solo 401(k) Plan is probably the best remaining tax shelter available for the self-employed,” stated Adam Bergman, a tax attorney with the IRA Financial Group.

IRA Financial Group’s Solo 401K plan contains a built in Roth sub-account which can be contributed to without any income restrictions. In addition, the Solo 401(k) plan allows for the conversion of a traditional 401(k) or 403(b) account to a Roth subaccount. In addition, IRA Financial Group’s Solo 401(k) plan is easy to operate. There is generally no annual filing requirement unless the Solo 401(k) Plan assets exceeds $250,000, in which case a short information return with the IRS (Form 5500-EZ) must be completed.

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 or call 800-472-0646

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Jaclyn Baily
Visit website