Solo 401k Investing Topic Attracts Residents of Orange and Yorba Linda to Highly Demanded Seminar

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Solo 401k, a self-directed retirement plan, was one of the topics at the highly attended seminar in Yorba Linda, Orange County in Southern California. Event sponsor, Sense Financial Services presented rules and advantages of the plan.

Dmitriy Fomichenko

Presenting at the event

Popular Seminar attracts attendees from many nearby cities.

Popular seminar “Achieve Financial Success in 2013” attracted residents of Orange, Irvine, Tustin, Newport Beach, Anaheim, Santa Ana, Fullerton, Cerritos, and several other cities of Orange and Los Angeles Counties.

“Achieve Financial Success” focused on various financial strategies that could be implemented for financial success. The event included two presentations by retirement and tax experts.

Self-Directed Solo 401k Plan was the focus of the “The Ultimate Retirement Plan” part of the event. This Qualified Retirement Plan is designed for small business owners and self-employed and has very powerful features not found in any other retirement plans.

Solo 401k rules establish eligibility by the presence of self-employment and the absence of full time employees. The plan is ideal for sole proprietors, consultants, and independent contractors, such as real estate agents.

Additional Solo 401k rules were also explained, such as qualified rollovers into the plan and IRS-defined prohibited transactions using the self-directed plan, as outlined in the Internal Revenue Code Section 4975.

The segment “Solo 401k vs. SEP”, clearly defined the superiority of the Solo 401k plan vs SEP IRA. By laying the benefits of the plan, presenter destroyed the myth of SEP being the best plan for the self-employed.

High Solo 401k contribution limits make this plan a desirable option for those who wish to shelter more of their incomes from taxes and maximize their retirement benefits. Solo 401k rules allow contributions up to $56,500 for the year 2013.

Solo 401k loan feature was also of high interest. It allows a loan to be taken from the account for a maximum of $50,000 or 50% of the fund, whichever is less. The loan has to be paid back in 5 years or less back to the account.

The second presentation by Robert Hall & Associates, Accounting firm based in Glendale, covered recent events such as the fiscal cliff and the ObamaCare tax. As these events loom on the horizon, attendees were given valuable help on how to prepare for them.

Additional matters of taxation were also explained in this presentation. Topics such as decreasing the potential for audit, asset protection, and a list of tax deductions were also explained.

Both presentations resulted in very informative Questions and Answers session at the conclusion of the event. Presenters also stayed after the event to answer individual questions of attendees. Some pictures of the event are available on the sponsor’s Facebook page.

About Sense Financial Services:

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 about the solutions they provide, please contact: (949) 228-9393.

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Minna Nah
Sense Financial Services
(949) 228-9326
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