Market Overview

IRA Financial Group Introduces Solo 401(k) Plan Contribution Calculator for 2013


Solo 401(k) Plan calculator will help self-employed individuals calculate their maximum annual employee and employer contributions for 2013

Miami, FL (PRWEB) February 13, 2013

IRA Financial Group, the leading facilitator of Self-Directed Solo 401(k) Plans, announces the offering of its free online Solo 401(k) contribution calculator for 2013. The online Solo 401(k) contribution calculator is a valuable tool that will allow a Solo 401(k) Plan participant to calculate the maximum annual contribution he or she can make to a solo 401(k) Plan, also known as an Individual 401(k) Plan or Self-Directed 401(k) Plan. The free online contribution calculator tool will allow one to calculate the maximum Solo 401(k) contribution based on one's age as well as the type of entity they have (i.e. sole proprietorship, LLC, partnership, or corporation). “We are pleased to be able to offer an in-depth online Solo 401(k) contribution calculator free for all individuals interested in determining their maximum annual solo 401(k) plan contributions,” stated Adam Bergman, a tax attorney with the IRA Financial Group. “The free online Solo 401(k) Plan calculator will provide a detailed breakdown of the total amount of employee elective and profit sharing contributions that can be made to a Solo 401(k) Plan for 2013,” stated Mr. Bergman.

Unlike an IRA, a Solo 401(k) Plan allows a plan participant to make high annual contributions to the Plan. The contributions can be in the form of pre-tax or Roth type contributions (after-tax).

The annual Solo 401(k) contribution consists of 2 parts, an employee salary deferral contribution and an employer profit sharing contribution. In 2013 the total contribution limit for a Solo 401(k) is $51,000 or $56,500 if age 50 or older. The total allowable contribution limits are combined to get the maximum Solo 401(k) contribution limit.

Up to $17,500 per year can be contributed by the participant through employee elective deferrals. An additional $5,500 can be contributed for persons over age 50, for a maximum employee deferral contribution in the amount of $23,000. These contributions can be up to 100% of the participant's self-employment compensation.

Through the role of employer, an additional contribution can be made to the plan in an amount up to 25% of the participant's self-employment compensation (20% if you are a Sole Proprietor or a Schedule C Tax Payer).

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market's leading “checkbook control” Self Directed IRA Facilitator. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate, without custodian consent.

To learn more about the IRA Financial Group please visit our website at or call 800-472-0646.

For the original version on PRWeb visit:

View Comments and Join the Discussion!

Partner Center