News / Finance
Sense Financial to Presents the Solo 401k Plan at Upcoming Tax Seminar
On March 19th, 2015, Robert Hall & Associates will hold a seminar titled The Ultimate Retirement Plan & Tax Planning Strategies. Dmitriy Fomichenko, president of Sense Financial Services LLC and retirement planning expert, will discuss the Solo 401k plan option with attendees.
With tax season right around the corner, many investors are looking for ways to save on their tax bills this year. Robert Halls & Associates is planning to hold a seminar to discuss different tax-saving strategies that can help investors shelter part of their income from taxes.
In this seminar, Tom Watson, a federal licensed tax practitioner at Robert Hall & Associates, will share his insights on the top tax deductions available for investors. He will also discuss the tax implications for different investment strategies, including residential versus commercial properties, and long term versus short term investments. Attendees will also learn about different types of business structures, such as S-corp, C-corp, and LLC, and their tax implications.
The seminar will be held at the Robert Hall & Associates Building in Glendale, California, on March 19th, 2015.
Joining Tom Watson as a guest speaker at the seminar, Dmitriy Fomichenko, president and founder of Sense Financial, will talk about the self-directed Solo 401k plan and the tax benefits it can offer to investors.
Designed for self-employed individuals and small business owners, this retirement solution also works perfectly for independent real estate agents and investors. The Solo 401k allows plan participants to gain checkbook control of their retirement saving, and invest in assets of their choice, including real estate assets such as properties, mortgage notes, trust deeds, and more.
One of the biggest benefits of the Solo 401k plan, however, is its tax-saving features. Each plan participant of a Solo 401k can contribute up to $53,000 into this tax-deferred account in 2015. Plan participants who are over 50 years old are allowed a catch up contribution of $6,000, bringing their total contribution limit to $59,000 annually. The high contribution limit translates to a large amount of deferred tax, which can significantly lower a plan participant tax charges for the year.
Many investors prefer the Roth Solo 401k option. With this, investors make after-tax contributions to the account and never have to worry about taxes on their contributions or investment gains any more. Real estate investors for example, can pay tax up front on their contributions and use the Roth funds to buy an investment property for their Solo 401k plan. Then, all profits from this property, including rental income and capital gains, will become tax-free. For investors, this is a tremendous benefit that can save them thousands of dollars.
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 Solo 401k, please visit sensefinancial.com
