Carry Learning Center

Funding a Solo 401k sounds straightforward until you sit down to move money and realize there are two separate contribution buckets, multiple deadlines, and different tax treatments depending on how you structure each deposit. Most self-employed professionals know the plan exists and have heard the big numbers, but the mechanics of actually getting funds into [...]

A Solo 401k offers self-employed business owners meaningful tax advantages and retirement savings options. One lesser-known benefit is the ability to borrow from your account balance. Not all Solo 401k plans permit participant loans — the feature depends entirely on whether your plan documents explicitly allow borrowing. This matters because accessing your retirement funds without [...]

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 [...]

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 [...]

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 [...]

Earning both W-2 and 1099 income opens the door to extra retirement contributions — but it also adds complexity. If you already have a 401k through your employer and want to set up a Solo 401k for your side business, the IRS has strict coordination rules you must follow. It’s easy to make honest mistakes that [...]

Running your own business or side gig? You might want to consider a retirement plan made for people like you.  A Solo 401k could be a strong option. It’s built for self-employed individuals, with higher contribution limits and generally more flexibility than regular retirement accounts. In this guide, we’re looking at two different Solo 401k plan providers: [...]

Running your own business does not mean missing out on the tax benefits often available to employees at larger companies. A Solo 401k can potentially help freelancers, consultants, and single-member LLC owners defer ordinary income taxes and save meaningful dollars for retirement in a tax-advantaged way.  For 2026, the IRS has increased employee contribution limits and [...]