Attention Small Business Owners: End-of-Year Deadline Approaches to Take Advantage of Tax-Deductible Contributions to Your Solo 401(k)

December 31, is the deadline to set-up an individual Self-Employed 401(k) plan to be able to contribute up to three times as much as what's allowed in tax-deductible contributions for tax year 2003. Additionally, small business owners with no employees can borrow up to $50,000 of their SE401K tax-free and penalty-free. Click2Borrow.com shows you how.

Alexandria, VA,(PRWEB) October 31, 2003, - December 31st is the deadline to set-up an individual Solo 401(k) plan to be able to make tax deductible contributions in the plan for tax year 2003. As owner of a business with no employees, you can establish an individual 401(k) plan -- generally referred to as a Solo 401(k) -- that lets you contribute up to three times as much as what's allowed under some other tax-deferred plans.

Any or all of your IRAs, 401(k), 457, or other retirement funds of any amount can be transferred to your Solo 401(k).

The Solo 401(k) plan has many advantages:

•    Complete contribution flexibility -- You decide each year whether to contribute and how much to contribute.

•    Generous contribution limits as compared to most other small business plans.

•    Easy set-up and inexpensive to maintain -- Unlike larger 401(k) plans, there are no complicated administrative requirements. You only have to file an IRS Form 5500 when plan assets exceed $100,000.

•    Consolidation convenience -- Retirement assets from IRAs or other plans can be consolidated to create one convenient, relatively low cost account.

•    Dedicated service -- Your retirement plan is handled by professionals committed to the retirement business and customer satisfaction.

Additionally, a Solo 401(k) allows you to use your retirement funds to get a loan of up to $50,000 that can be tax free and penalty free as long as the loan is paid back on time. The Solo 401(k) loan has several great features that are hard to beat:

Ø    Low interest rate (prime rate for term of the loan)

Ø    No credit check

Ø    Quick-and-easy application process

Ø    All payments returned to your own account

Ø    Completely confidential

The Solo 401(k) is only for business owners with no full-time employees other than a spouse. The business can be brand new or old. It can be a sole proprietorship, LL.C, partnership, or corporation. Loans can be used for any purpose: home buying, business start-up or expansion, debt consolidation, college expense, or emergency medical expenses.

All payments and interest are reimbursed back to your 401(k). Unpaid loan amounts will be considered as taxable income.

For more information or to apply for your own Solo 401(k), simply go to www.click2borrow.com to complete a no-obligation request form and you will receive a free application kit by email, usually the same day.

Click2Borrow.com was established by Lamaute Capital, Inc. to provide small business owners with a convenient, hassle-free way to get information and an online application to open a Solo 401(k) plan they can borrow from.

Don't wait till the last minute. Allow yourself a few days to receive, read, complete, and mail the application forms so that your plan is established on time.

Lamaute Capital, Inc. is an investment brokerage firm. They specialize in retirement plans. Established in 1993, the firm is a member of the NASD and SIPC. For more information on the Solo 401(k) visit www.click2borrow.com or contact:

Daniel Lamaute, CEO

Lamaute Capital, Inc.

1800 Diagonal Rd.

Suite 600-B6033

Alexandria, VA 22314

Tel: 703-370-1570

Fax: 703-370-2329

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