305:Using a Solo 401(k) to Save and Build Your Retirement

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 4 September 2020

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mat Sorensen, attorney and CEO at Directed IRA, is joined by attorney Kevin Kennedy of KKOS Lawyers to give an overview and answer the most frequently asked questions on solo(k)s and how they can be used by self-employer persons. To search for prior episodes, or sign up for Mat's Weekly Free Newsletter, visit www.mainstreetbusiness.com Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Bus...

Transcript

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0:00.0	Welcome, everyone to the Main Street Business Podcast.
0:08.0	This is Matt Sorensen.
0:10.0	Excited to be here today.
0:12.0	Mark J. Kohler, my regular co-host, he's kind of like, you know, if I'm Maverick, he's Goose, you know.
0:20.0	So Goose is on the loose. Goose is fishing in Alaska. And, uh, so I am doing the podcast here. But I got Kevin Kennedy, um, one of our amazing attorneys and KQS lawyers to join me today on the important topic of solo Ks, which he knows a lot about.
0:41.6	Kevin's also a heck of a good guy. So welcome, Kevin. Thanks, Matt. Yeah, we, you know, for those
0:49.1	of you don't know, Matt's even better looking in person. So you're missing out. Yeah. So you got to go to
0:53.9	the YouTube to see that,
0:55.3	but I appreciate that. I've, you know, I'm not Tom Cruise, you know, Maverick, but, you know,
1:02.7	whatever. What do I say to that? Okay, well, this is a big topic today. Now, Kevin's been an attorney in our firm for years
1:12.1	and set up hundreds of solo 401ks as of I. And of course, I'm working in directed IRA
1:18.2	where we handle accounts to. And so there's kind of two pieces to this with KQS lawyers and directed
1:24.3	IRA. But we want to go over just the topic. And I don't care whether
1:28.1	you're using our firm or someone else. It doesn't matter. We just want to teach and go over
1:32.0	the solo K. And if you're listening to the podcast, I am sharing a couple slides on the video
1:38.2	that might be helpful if you're into that. So you want to go to the YouTube, Main Street Business
1:42.6	Podcast. You can find it at Main Street Business Podcast.com. So go there. You can also sign up for our newsletter. We're
1:49.6	always getting articles out every week on cutting-edge strategies. I just had a new article up
1:54.0	just this last week on, just a couple of days ago, on the new accredited investor rule. And this is on
1:59.7	entrepreneur.com, too, on the new accredited investor rule. This is on entrepreneur.com too,
2:01.5	on the new accredited investor rule, which came out, which kind of widened certain licensed
2:05.6	people to qualify as accredited investors too. So just an example of stuff we're always trying
	...

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