Carry Learning Center

After a spouse passes away, a retirement account can come with decisions that feel overwhelming. One choice can affect taxes, access to cash, and when required withdrawals begin. A spousal rollover lets a surviving spouse move eligible inherited retirement funds into an account in their own name. After the rollover, the account is generally treated as [...]

Running a one person business means your retirement plan is your responsibility. There is no HR department setting up a traditional 401k for you.  The good news is that the IRS allows sole proprietors to use retirement plans that could reduce taxable income and create the potential for long term investment growth. The challenge is choosing [...]

Many high earners reach the regular 401k employee limit and still want more room for tax-advantaged retirement savings. Roth accounts may feel appealing because withdrawals in retirement are generally tax-free, yet income limits and plan rules often make direct Roth contributions unlikely. That is why strategies like the backdoor Roth IRA and the Mega Backdoor [...]

Looking for more freedom in how you invest your Solo 401k funds? Some account setups give you more control than others, especially if you are not tied to a prepackaged plan from a brokerage. A non-prototype brokerage account opens the door to broader investment choices and greater control. But it also shifts more responsibility to you [...]

Saving for retirement gets more complex as you move into your 50s and early 60s, especially if you are running your own business. The pressure to make the most of your remaining working years is real, but the rules are not always easy to follow. Important changes are coming soon that could affect how much you [...]

If you have a Solo 401k, staying compliant does not end after setup. Plan documents require periodic updates to reflect changing IRS rules. Missing these updates can lead to unexpected consequences. That is why Solo 401k restatements exist. In this article, you will learn what a Solo 401k restatement actually is, why it matters, and what to [...]

Borrowing from a 401k can feel like a short-term fix, but it may lead to unexpected taxes if employment changes or payments stop.  This article explains two situations that often cause confusion: a loan default that turns into a taxable deemed distribution, and a plan loan offset (including a Qualified Plan Loan Offset, or QPLO) where [...]

Many Solo 401k owners aged 50 and older face new rules on how they handle “catch-up” contributions. Under the SECURE 2.0 Act, those with prior-year wages above a certain threshold must designate catch-up deferrals as Roth. This means they’ll be made with after-tax dollars, without reducing current-year taxable income. The IRS has now finalized how this [...]

If you’re setting up a Solo 401k for 2026, you’re probably focused on maximizing your retirement savings and reducing current income taxes. But there’s another piece that often trips up self-employed filers and small business owners: how these contributions affect payroll taxes like Social Security and Medicare. A Solo 401k can shelter a meaningful portion of [...]