Give the IRS the Slip

Although not a new concept, the Solo 401(k) has only gained acceptance as a legitimate and powerful retirement planning tool over the last 10 years.

Once only used by larger private companies, today’s self-employed business owner looking to invest more of their hard-earned money in a far more “tax-advantaged” account than allowed with traditional retirement plans have turned more and more to the Solo 401(k). In doing so, they are keeping more of their profits and paying less in taxes every year. In this article, we hope to provide you with the facts about the Solo 401(k) and get you excited about what it has to offer.

First, the facts: If you are self-employed, you can set up a Solo 401(k) and invest in a number of legitimate opportunities. This includes franchises, businesses, real estate, and other nontraditional investment opportunities. Currently, you can contribute up to 100% of the first $ 15,500 of your compensation or self-employment income ($ 20,500 if are 50 or older). You can currently contribute and deduct an additional 25% of your compensation income or 20% of your self-employment income. The maximum contribution you can make per year is $ 46,000.

Let’s look at an example: Let’s say your earn $ 100,000 from your corporation. The maximum Solo 401(k) contribution would be an impressive $ 35,500 ($ 15,500 plus 20% of $ 100,000). If you are 50 or older, that amount would have been increased by the $ 5,000 catch-up amount to $ 40,500. Compare this amount to a more traditional plan, like a SEP Account, in which you could only contribute a maximum of $ 20,000 (20% of your salary).

Here are a few more of the “advantages” of the Solo 401(k):

You can use your Solo 401(k) funds as leverage to borrow money from a bank for a project AND the profits from that investment go right back into your Solo 401(k) (a departure from the tax liability you would have with a self-directed IRA)!

You may borrow up to 50% of your account balance (a maximum of a $ 50,000 loan) and repay it over five years (or longer if the loan is used for a primary residence).

You hold the power to write checks directly from your account! No more submitting letters or funds to your IRA custodian!

If you are married, you can belong to the same 401(k) plan and can double your investment potential!

Married couples can contribute a maximum combined $ 92,000 per year. That amount could increase to $ 102,000 if the couple were both 50 or older.
Sabung Ayam
Balanchine, Ratmansky, Tharp
A program that combines three masters of dance from the 20th century to the present. George Balanchine is regarded as the foremost contemporary choreographer in the world. His works have become iconic in the ballet lexicon. He believed, “Dance is a continuation. You cannot predict the signs of its evolution.” The two remaining choreographers represented in this program reflect that sentiment as their works provided a new vision for dance and they continue to propel dance into the future. Tharp is considered the high priestess of choreography and Ratmansky is regarded as one of the world’s most sought-after choreographers.

Allegro Brillante
"Everything I know about classical ballet in thirteen minutes." George Balanchine
An exuberant, pure and joyous dance work.
Choreography George Balanchine
Music Piotr Ilyich Tchaikovksy, Piano Concerto No. 3, Opus 75

Seven Sonatas
Company Premiere
"Seven Sonatas layers solos, duets and group arrangements into a rich tapestry. Spellbinding." The New York Times
Choreography Alexei Ratmansky
Music Domenico Scarlatti, Keyboard Sonatas: K.30, 39, 198, 450, 474, 481 and 547 performed by Ryo Yanagitani

Nine Sinatra Songs
"…full of flair and sophistication." The New York Times
A glamorous portrait of seven couples as they swing, swirl, tango and cha-cha through the arc of romantic relationships. This is one of Tharp’s most frequently performed works and a mainstay in the repertoires of dance companies worldwide.
Choreography Twyla Tharp
Music Frank Sinatra

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SABUNG AYAM