New York, NY (PRWEB) January 26, 2014
IRA Financial Group, the leading provider of self-directed solo 401(k) retirement plans, introduces a specially customized self-directed 401(k) retirement plan for real estate investors. IRA Financial Group’s self-directed solo 401(k) plan, also known as an individual 401(k) plan is a specially customized retirement plan, which offers strong retirement benefits and diversified investment options. With IRA Financial Group’s self-directed 401(k plan for real estate, a self-employed individual has the ability to make annual contributions of up to $52,000 ($57,500 for those over the age of 50), borrow up to $50,000, as well as use his or her retirement funds to make almost any type of investment on their own, including real estate, tax-deferred (tax-free in the case of a Roth solo 401(k)) without requiring the consent of any custodian. “Establishing a real estate self-directed 401(k) retirement plan offers real estate investors with an opportunity to use 401(k) funds and invest in investments they know and understand", stated Adam Bergman, a tax partner with the IRA Financial Group. “IRA Financial Group’s self-directed 401(k) real estate plan is unique and so popular with real estate investors because it is designed explicitly for the self-employed real estate professionals looking to use retirement funds to buy real estate and take advantage of tax-deferral opportunities,“ stated Mr. Bergman.
There are many features of the IRA Financial Group’s self-directed 401(k) real estate plan that make it so appealing for small business owners.
-High Contributions: IRA Financial Group’s self-directed real estate 401(k) plan will allow a plan participant to make annual contributions in 2014 up to $52,000 annually with an additional $5,500 catch-up contribution for those over age 50. The high contribution feature is one of the reasons a self-employed 401K plan is the most popular retirement vehicle for the self-employed.
-Checkbook Control: With IRA Financial Group’s real estate self-directed 401(k) plan, a plan participant will be granted checkbook control over his or her retirement funds to make real estate investments. With IRA Financial Group’s self directed 401(k) plan, making a real estate investment is as easy as writing a check or executing a wire.
Tax and Penalty free loan: IRA Financial Group’s real estate self-directed 401(k) plan allows plan participants to borrow up to $50,000 or 50% of their account value (whichever is less) for any purpose, including funding a personal real estate transaction. The loan has to be paid back over a five-year period at least quarterly at a minimum prime interest rate (you have the option of selecting a higher interest rate).
-Roth Contributions & Conversion: IRA Financial Group’s self-directed real estate solo 401(k) plan contains a built in Roth sub-account which can be contributed to without any income restrictions. In addition, the self-directed 401(k) plan allows for the conversion of a traditional 401(k) or 403(b) account to a Roth subaccount.
-Easy Administration: IRA Financial Group’s self-directed real estate 401(k) plan is easy to operate. There is generally no annual filing requirement unless the self-employed 401(k) Plan assets exceeds $250,000, in which case a short information return with the IRS (Form 5500-EZ) must be completed.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market's leading “provider of IRS approved self-directed real estate 401(k) plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.
To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.