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Solo Roth 401k Explained 

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In this video I'm talking about the Solo Roth 401k Explained. The Roth IRA vs the Solo Roth 401k and a comparison to the traditional 401k. We will also walk through the calculation for a schedule C filer to figure out the maximum contribution to the solo Roth 401k.
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Our financial planning process is an ongoing relationship because as you grow, your financial plan grows with you. At Sickle Hunter Financial Advisors, we believe that saving and making sound financial decisions will help improve your life’s changing needs and objectives. Retirement, college planning, wealth building, social security, and career benefit packets are only a few of the financial decisions that you may face in your lifetime and we’re here to help guide you.
TRAVIS T SICKLE, CFP®, EA®, AAMS®, CRPC®, RICP®
CERTIFIED FINANCIAL PLANNER™
Company Website: www.sicklehunter.com
twitter: @travissickle
Instagram: travistsickle
Facebook: www.Facebook.com/SickleHunterFA
LinkedIn: www.linkedin.com/in/travissickle
Sickle Hunter Financial Advisors
1646 W Snow Avenue
Suite 144
Tampa, FL 33606
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20 апр 2021

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Комментарии : 15   
@izzy4169
@izzy4169 2 года назад
Where can I open a Solo Roth 401(k)? All of the traditional brokerages(Fidelity, Vanguard, etc) I have looked at only have a solo 401(k) option. Thanks in advance!
@dbest4755
@dbest4755 4 месяца назад
Hey Travis! Quick question: I have both a Roth IRA and a Roth 401K Solo. If my 1040 line 31 Sch C shows $8,000, how much can I contribute to each account? Appreciate your help!
@echothecat6748
@echothecat6748 3 года назад
Can I rollover my employment 401k to a solo 401K? I'm getting ready to retire early and won't collect SSI until November. But I do plan on having a small business out of my home to sell crafts. Can I do it under these circumstances? If so how? Can I roll it over to a 401K with fidelity? Thank you for answering my questions I greatly appreciate it this is confusing.
@TravisSickle
@TravisSickle 3 года назад
Yes, you can also roll it into an Ira.
@yossharel4549
@yossharel4549 2 года назад
Can I contribute now in 2022 to Solo Roth 401 as employee for 2021 year? (I now that you can as employer) [single member LLC taxed as sole proprietor]
@TravisSickle
@TravisSickle 2 года назад
Yes
@kevinonthank
@kevinonthank Год назад
If your spouse has a normal Roth IRA Can you have a Roth solo 401 k ?
@moessf123
@moessf123 Год назад
How much is the employer contribution limit and is the contribution counted as a tax write off to the employer itself
@TravisSickle
@TravisSickle Год назад
$147k for ss and unlimited for Medicare. It’s a write off yes.
@joshbrunner
@joshbrunner 2 года назад
If I fully fund my employer’s Roth 401k, can I also contribute to the solo Roth 401k?
@TravisSickle
@TravisSickle 2 года назад
Not directly. The max as employee is $20,500 for 2022. That’s across all qualified plans. You might be able to do a nondeductible and then convert to Roth. Effectively the same thing as long as you do it in the same year (conversions are taxed in the year of conversion, whereas, contributions could be made retroactively). It’s ideal to do it this way so you can have a much lower income and still end up with $61k in the Roth.
@TravisSickle
@TravisSickle 2 года назад
Nondeductible contributions are subject to the $61k limit and not the employee limit.
@joshbrunner
@joshbrunner 2 года назад
Thanks for that explanation!
@anatolylukyanov6072
@anatolylukyanov6072 2 года назад
Can I contribute the entire $19500 to solo Roth 401k in the beginning of year, or I can only contribute after I have earned the money?
@TravisSickle
@TravisSickle 2 года назад
It can be done. It's based on year end numbers.