Solo 401(k) Contribution Limits and Deadlines – 2024

Welcome to the Direct IRA Podcast! In this episode, we’re getting into the ins and outs of Solo 401(k)s – the top self-directed account for the self-employed. Join Mat Sorensen and Nate Hare as they tear apart the complexities of contribution rules, deadlines, and benefits associated with Solo 401(k)s.

⏱️ Timestamps:

00:00:09:00 – Explaining 401(k) Contributions
00:00:43:15 – Solo 401(k) Explained: The Best Retirement Plan?
00:01:07:14 – Dive into Contribution Rules & Deadlines
00:03:31:14 – Setting Up a Solo 401(k) by Year End Importance
00:05:33:05 – Crucial Considerations for S Corporations
00:07:24:15 – Contribution Limits for 2023 & 2024
00:09:04:01 – Advantages of S Corporations in Solo 401(k) Contributions
🔍 Exploring Employee & Employer Contributions:

– Understand the significance of making 401(k) contributions – both employee and employer segments.
– Clarifying 2023 deadlines and the criticality of setting up Solo 401(k)s by year-end.
– Contributions in S Corporations – decoding the complexities of W-2 and planning considerations.
– Detailed breakdowns of 2023 and 2024 contribution limits and potential strategies for maximum contributions.

Unlock the Potential:
The wealth-building capabilities of Solo 401(k)s, especially for small business owners, real estate investors, and those with no employees. Get insights into contribution strategies, nuances, and the impact on retirement savings.

Schedule a Free 15-minute new account phone appointment with one of our experienced Senior Account Executives regarding the type of account best for you.

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