Sin City CFO

Not every 401k’s works the same way.

You might hear that you can borrow from a 401k, then ask your employer about it and get told no.

That doesn’t necessarily mean 401k loans aren’t allowed. It may simply mean that your specific plan doesn’t offer them.

A 401k plan can allow participant loans, but the employer isn’t required to include that option in the plan.

The same goes for fees. 401k fees have generally come down over the years, especially investment expenses, but you should still pay attention to what you’re paying because fees can vary from plan to plan.

The plan matters just as much as the type of retirement account.

Listen to the full episode 96
“Build Your Wealth Muscle” podcast. Wherever you listen.

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When we talk about retirement plan deadlines, remember this: the paperwork deadline and the contribution deadline aren’t always the same thing.

Getting the plan set up is one step but actually putting the money into the account can be another step with a different deadline.

So if you’re thinking about starting a retirement plan but don’t have all the cash ready yet, don’t automatically assume you’ve missed your opportunity.

The deadlines depend on the type of plan and the type of contribution, so make sure you’re looking at both before making a decision.

Listen to the full episode 96
“Build Your Wealth Muscle” podcast. Wherever you listen.

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Business owners, your next tax deadline is coming up! September 15 is the deadline for your Q3 estimated tax payment if you’re self-employed, a business owner, or making quarterly tax payments to the IRS.

Don’t wait until the last minute — missing your estimated tax deadline could lead to interest charges, underpayment penalties, and unnecessary stress. Reviewing your income, expenses, deductions, and tax strategy now can help you stay prepared and avoid surprises when tax season arrives.

Save this reminder and make sure your business taxes are on track before September 15.

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As we move into Q4, this is when tax planning starts to become more urgent.

You now have nine months of financials. You can see your revenue, expenses, and profit so far, and you probably have a much better idea of how the rest of the year is going to look.

That gives you time to start putting tax strategies together before the year ends.

And when it comes to retirement plans, don’t confuse the paperwork deadline with the deadline to actually move the money. Those can be different depending on the plan and the type of contribution.

For a Solo 401k, the paperwork deadline isn’t always simply December 31, so don’t assume you’ve missed your opportunity.

But waiting until the last minute can still create problems when you need plan documents, payroll information, or professional guidance.

This is why Q4 planning matters. You still have time to make decisions before the year closes.

Listen to the full episode 96
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: Q4 tax planning, year end tax planning, Solo 401k deadline, retirement plan deadlines, business tax strategy, small business tax planning, Solo 401k setup, retirement planning for business owners, tax planning 2026, year end financial planning

Solo 401k or SEP IRA?

Both can be great retirement options for business owners, but they don’t work the same way.

One reason the Solo 401k is often the better option for an eligible business owner is how contributions are structured, you can contribute to the plan as both the employee and the employer, while a SEP IRA generally relies on employer contributions.

This can be especially important for S-corp owners.

With an S corporation, retirement contributions are based on your W-2 compensation, not the distributions you take from the business.

And while keeping payroll tax-efficient is part of the strategy, your W-2 salary still has to meet the IRS standard for reasonable compensation.

That’s why choosing between a Solo 401k and a SEP IRA isn’t just about picking the plan with the biggest contribution limit. Your entity structure, W-2 wages, profit, and eligibility all matter.

Listen to the full episode 96
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: Solo 401k vs SEP IRA, Solo 401k 2026, SEP IRA 2026, S corporation retirement plan, reasonable compensation S corp, business owner retirement plan, self employed retirement planning, Solo 401k contributions, SEP IRA contributions, small business tax strategy

The second thing that can affect your Solo 401k eligibility is having a part-time employee who becomes eligible to participate.

For 2026, certain long-term part-time employees who complete at least 500 hours in two consecutive 12-month periods may become eligible to participate in the plan.

That works out to roughly 10 hours per week, but eligibility is based on actual hours worked not simply whether someone averages 10 hours every week.

So if you have a part-time employee now and expect them to stay with your business, this is something you need to start tracking.

Once an employee meets the applicable eligibility requirements, your retirement plan may need to change.

Listen to the full episode 96
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: Solo 401k eligibility, part time employee 401k, long term part time employee, 500 hour rule, Solo 401k rules 2026, small business retirement plan, employee retirement eligibility, 401k eligibility rules, business owner retirement planning, SECURE 2.0 retirement rules

A Solo 401k can be a strong option for a business owner, especially if you want to put more money toward retirement based on your compensation.

And this is where the S-Corp conversation comes in.

An LLC itself doesn’t automatically save taxes though. But having your LLC taxed as an S-Corp can potentially reduce self-employment taxes when it’s structured properly, including paying yourself reasonable compensation.

For 2026, the 401k employee contribution limit is $24,500, with additional contributions possible depending on your age, compensation, and plan.

The right retirement plan and business structure should work together, not be chosen separately.

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People usually want financial planning to answer one question: What do I do with the money I’m making?

Invest it. Grow the business. Build wealth.

But protecting that wealth often gets overlooked because insurance and protection strategies can feel like adding expenses instead of building assets.

That matters when an unexpected illness, injury, or major medical expense hits.

Disability insurance can protect your income, while health insurance and an emergency medical fund can help limit the financial damage.

If you’re HSA-eligible, that can be another way to prepare for qualified medical expenses.

Need help identifying gaps in your financial protection? Send me a message or give me a call.

Listen to the full episode 98
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: disability insurance, wealth protection, financial planning, health insurance, medical expenses, income protection, HSA strategy, financial protection, asset protection, risk management

Being young and healthy doesn’t protect you from unexpected medical costs.

A serious accident, emergency surgery, hospitalization, or other major medical event can create tens or even hundreds of thousands of dollars in medical bills without adequate coverage.

Health insurance isn’t just about paying for routine doctor visits. It’s about protecting your finances from expenses you couldn’t realistically absorb on your own.

One medical emergency shouldn’t have the power to wipe out years of financial progress.

If you’re unsure whether your current coverage actually protects you from a major medical event, send me a message or give me a call.

Listen to the full episode 98
“Build Your Wealth Muscle” podcast. Wherever you listen.

related: health insurance, medical expenses, catastrophic health coverage, healthcare costs 2026, health insurance protection, emergency medical costs, financial protection, medical debt, health insurance planning, young adults health insurance