Is ERISA Testing Required for a Solo 401(k) Plan?
A business owner with no common-law employees, who adopts a Solo 401(k) plan, is generally not required to perform ERISA nondiscrimination testing…
IRS Form 5500-EZ: Solo 401(k) Filing & Reporting Requirements
Please note, the most recent IRS updates about IRS Form 5500-EZ will be found at the top of this article. Beginning January 1, 2024, the IRS is…
What is a Solo 401(k) Prohibited Transaction?
The Internal Revenue Code (IRC) & ERISA does not describe what a Solo 401(k) Plan can invest in, only what it cannot invest in. Internal Revenue…
Is my Solo 401(k) Plan Subject to the Corporate Transparency Act (CTA)?
The Corporate Transparency Act (CTA), which was established in 2021 and is set to become law on January 1, 2024, is the most far reaching set of…
What is Unrelated Business Taxable Income (UBTI)?
The tax advantage of an IRA is that income is tax-free until distributed. In general, an exempt organization is not taxed on its income from an…
Real Estate UBTI – When Does it Apply?
What is UBTI? UBTI is defined as “gross income derived by any organization from any unrelated trade or business regularly carried on by it”…