#460 Unlocking the Power of the Solo 401k

Set up your Solo-K with KKOS: https://kkoslawyers.com/services/solo-401k-set-up/In this episode of the Main Street Business podcast, hosts Mark J Kohler and Mat Sorensen delve deep into the intricacies of the Solo 401K retirement account. Here are some of the key points they discussed:An explanation of the Solo 401K, its appeal for self-employed individuals, and the role it plays in wealth-building.Discussion on the contribution limits of Solo 401K, the difference between traditional and Roth dollars, and how to make the most of these contributions.The significance of self-directing in a Solo 401K, the flexibility it offers, and the potential for diversifying investments beyond traditional stocks and bonds.Clarification on the types of businesses or employment scenarios that qualify for the Solo 401K, and nuances around part-time employees and rental income.Real-world examples of how Solo 401K can be leveraged for maximum benefit, including the strategy of "rolling over" funds from traditional IRAs or old employer 401Ks and the option of loaning oneself money from the account.This episode is a must-listen for anyone self-employed or with a side hustle, looking to understand and maximize their retirement savings. Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute demo. You don't want to miss this! Secure your tickets for the most significant tax & legal event of the year: Tax and Legal 360 Curious what my new certification is all about? Learn More Looking to connect with a rock star law firm? KKOS is only a click away! Grab my FREE Ultimate Tax Strategy Guide HERE! Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler Craving more content? Check out my Instagram!

Om Podcasten

The Main Street Business Podcast hosted by Mark J. Kohler with co-host Mat Sorensen discuss complex tax and legal topics like LLCs, corporations, estate planning, raising capital, and retirement planning in an engaging and charismatic way, making it easy for anyone to understand.Mark J. Kohler has done over +10,000 consultations with clients, is a Senior Partner at KKOS Lawyers and CFO/Board Member of Directed IRA Trust Company with $2B+ in managed assets. He’s a best-selling author of six books, national speaker and founder of the Main Street Certified Tax Advisor Program, a program training thousands of CPAs and Enrolled Agents on proven strategies, effectively changing the lives of millions of small business owners in America.