If you own a small business, you have options when it comes to your retirement account, such as a Solo 401(k).

Access the Ultimate Guide to the Self-Directed Solo 401(k): https://try.trustetc.com/self-directe...

John Bowens outlines the pros and cons of a Solo 401(k).

Solo 401(k) Eligibility Requirements
The Individual 401(k) is for incorporated and unincorporated businesses, sole proprietorships, partnerships, and corporations. The only requirement for contributions to this plan is that you receive a salary or wage.

The business entity must have no additional employees other than the spouse of the proprietor—or, in the case of a partnership, the only employees must be self-employed partners and their spouses.

An Individual 401(k) plan must be the only arrangement maintained by the business that is not included as part of a controlled group under federal tax law.

Equity Trust Company is a directed custodian and does not provide tax, legal or investment advice. Any information communicated by Equity Trust Company is for educational purposes only, and should not be construed as tax, legal or investment advice. Whenever making an investment decision, please consult with your tax attorney or financial professional.