A Solo 401(k) is a sweet deal for entrepreneurs with no W2 employees.

A commonly misunderstood thing is when you can open and fund a plan.

The Secure Act 2.0 changed things up and made things better for entrepreneurs and solo 401k plans.

Here's what you need to know... Previously, entrepreneurs who opened a solo k after the year ended (for previous year contributions) could only make employer contributions.

If you wanted to fund w/ both employee AND, employer contributions, it must have been opened by the end of the year.

But things changed..

What is the Augusta Rule and how can it help your small business save tax? ⛳️

There is a little-known (and overlooked) rule where your business can rent your residence for 14 days or less.

A business tax deduction + tax-free income to you!

How does it work?🧵 First, the backstory. The Masters golf tournament held each year in Augusta, Georgia is one of the more popular and prestigious events in sports.

Residents of Augusta wanted to capitalize on this event by renting their homes to spectators flocking to Augusta once a year.

Pros and cons of directly holding digital assets vs. trusts vs. ETFs (one day): 👇

Digital assets directly: -Pros-

1. Considered property by the IRS (no wash sale rule).
2. You can hold it on or off-exchange and decide where to store it.
3. Use as currency or store of value. -Cons-

1. You have to keep it properly secured.
2. You have to decide how and where to hold it.
3. If you dispose of, spend, or exchange at a gain, it's taxable.

Now what about #DigitalAsset Trusts 👇

Running your own self-employed business is tough! A tool that can potentially help save more and/or reduce tax is the solo 401k!

A //THREAD\\ on its benefits and some FAQ...

First, let's start with the benefits and why I like the solo 401k 👇 1/9

1️⃣ Invest more: Offer higher contributions over IRAs

2️⃣ The spouse exception! If your spouse earned income from the business as an employee, they can contribute and get profit-sharing $. This can double the contributions!