Using a Solo 401(k) presents a number of exciting tax planning and investment opportunities that allow you to start a business
Miami, FL (PRWEB) February 20, 2013
With IRA Financial Group’s Special Small Business Solo 401(k) Plan Solution, investors can borrow up to $50,000 from their retirement funds and use it to fund a new business. “Many retirement investors are looking to start a business with their retirement funds,” stated Adam Bergman, a tax attorney with the IRA Financial Group. “Using a Solo 401(k) presents a number of exciting tax planning and investment opportunities that allow you to start a business,” Mr. Bergman added.
Internal Revenue Code Section 72(p) and the 2001 EGGTRA rules allow a Solo 401(k) Plan participant to borrow money from the plan tax-free and without penalty. As long as the plan documents allow for it and the proper loan documents are prepared and executed, a participant loan can be made for any reason. The Solo 401(k) loan is received tax-free and penalty free. There are no penalties or taxes due provided loan payments are paid on time. The IRA Financial Group Solo 401(k) Plan documents will allow investors to use a loan from their Solo 401(k) for any investment purposes, including real estate, funding an existing business or a new business, tax liens, private placements, etc.
In addition to the tremendous 401(k) benefits (tax-free profits, high tax contribution deductions - up to $56,500, asset protection and estate planning), the IRA Financial Group Special Small Business Solo 401(k) Plan Solution allows entrepreneurs to invest tax-free in investments that they know and understand and even allows them to borrow up to $50,000 or 50% of the account value for any purpose. Aside from certain "prohibited transaction" investments outlined in Internal Revenue Code Section 4975, a Solo 401(k) Plan can invest in most commonly made investments, including real estate, private business entities, public stocks, private stocks, and commercial paper. The IRA Financial Group Special Small Business Solo 401(k) Plan Solution was designed specifically for small business owners, allowing them to invest in the types of investments they want to.
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 Solo 401(k) Facilitator. 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.