Carry Learning Center

Calculate Solo 401k loan repayment schedules and monthly payments [...]

Determine if you qualify for a Solo 401k loan and calculate maximum loan amounts [...]

Check if you are eligible to open a Solo 401k account [...]

Compare the costs and benefits of 401k hardship withdrawals versus loans [...]

Calculate penalties and taxes for early withdrawals from Solo 401k accounts [...]

📝 The government requires companies offering 401k plans to keep things fair for all employees. This ensures that highly paid employees (like executives) don’t get much better retirement benefits than regular employees. Each year, companies must run tests to prove that the retirement benefits and contributions are relatively equal between these two groups of employees:  Highly compensated [...]

OVERVIEW Transfers and rollovers are used to move funds from one retirement account to another. While they have similar functions, they’re treated differently by the IRS. A rollover is the moving of retirement funds between two different types of retirement accounts. A transfer is the moving of retirement funds between the same type of retirement account. There are [...]

KEY SIMILARITIES Both direct and indirect rollovers must be reported to the IRS when you file your income taxes. Both direct and indirect rollovers can move an unlimited amount of money between your accounts. Both direct and indirect rollovers are not taxable events. However, missing the 60-day deadline with an indirect rollover would be counted as a distribution, [...]

Looking to open a Solo 401k plan? Get started today with just a few clicks – The Carry Solo 401k Plan is a featured-packed self-directed account that lets you invest in both traditional and alternative assets, take out a loan, or do a Mega Backdoor Roth conversion with a few clicks. An IRA is a tax-deferred retirement [...]