Solo 401(k)

topic on 2 shows · 2 statements across 2 episodes

We Live to Build My First Million

2 statements about Solo 401(k), every show

WE LIVE TO BUILD Assertion Not checkable as stated
Timberlake: IRS charged $500 daily penalty for late Solo 401(k) filings
“I did not find out until maybe six weeks ago that they were going to be charging me, that the IRS would charge me 500 dollars per day of when per day that I had not filed.”
Hope Timberlake Aug 10, 2024 ▶ 27:26 She Loved the Work So Much She Never Set a Number
MY FIRST MILLION Assertion Supported
Nagpal: Solo 401(k)s allow up to $69,000 in annual tax-deductible or Roth contributions
“With a solo for one K, you can put in 69,000 dollars a year, get that as a tax deduction. The second thing is you could do the whole thing as a Roth contribution.”
Ankur Nagpal Jan 17, 2024 ▶ 31:21 $250M Founder Reveals How The Rich Avoid Taxes (Legally) | ft. Ankur Nagpal

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