With federal and state income tax rates expected to increase in the future, gaining the ability to generate tax-free returns from your retirement investments when you retire is the last surviving legal tax shelter
Miami, FL (PRWEB) March 19, 2013
IRA Financial Group, the leading provider of self-directed solo 401(k) Plan introduces the open architecture Roth Solo 401K Plan. IRA Financial Group’s Roth Solo 401K Plan is the ultimate tax-free retirement solution for the self-employed.
Unlike a Roth IRA, which limits an individual Roth IRA contributions to $5,500 annually ($6,500 if the individual is 50 years or older), in 2013, with a Roth Solo 401(k) account, an individual can make Roth (after-tax) contributions of up to $17,500, or $2300 for those 50 or older by the end of the year -- allowing individuals to stock away thousands of dollars more in tax-free retirement income than they would through a Roth IRA.
“With federal and state income tax rates expected to increase in the future, gaining the ability to generate tax-free returns from your retirement investments when you retire is the last surviving legal tax shelter, “ stated Adam Bergman, a tax attorney with the IRA Financial Group. With IRA Financial Group’s Roth Solo 401K, a self-employed business owner can make almost any investment tax-free, including real estate, tax liens, precious metals, currencies, options, and private business investments tax-free. “ The real beauty of the Roth Solo 401(k) Plan is that once the business owner hits the age of 59/1/2, he or she will generally be able to live off all the Roth funds without ever paying tax, “ stated Mr. Bergman. “If one started making Roth 401K contributions in his or her thirties and by just generating a modest rate of return, her or she could have over a million dollars tax-free when they retire, “stated Maria Ritsi, a paralegal with the IRA Financial Group.
With IRA Financial Group’s Roth Solo 401(k), a small business owner who reaches the age of 591/2 can generally live off the Roth 401K investment income tax-free or take a portion of your Roth 401K funds and use it for any purpose without ever paying tax.
IRA Financial Group’s open architecture Roth Solo 401(k) Plan combines features of the traditional 401(k) with those of the Roth IRA. Like a Solo 401K Plan, the Roth Solo 401K Plan is perfect for any self-employed individual or small business owner with no employees. The Roth Solo 401K Plan contains the same advantages of a Solo 401(k) Plan, but as with a Roth IRA, contributions are made with after-tax dollars. “While one wont get an upfront tax-deduction, the Roth 401(k) Plan account grows tax-free, and withdrawals taken during retirement aren't subject to income tax, provided the self-employed individual is at least 59 1/2 and the Roth 401(k) account has been opened for at least five years.
IRA Financial group’s Roth Solo 401K is perfect for any self-employed individual who wishes to maximize their ability to generate tax-free retirement savings while receiving the ability to invest in real estate, precious metals, private businesses or funds tax-free and without custodian consent.
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 and Dewey & LeBoeuf LLP.
IRA Financial Group is the market’s leading “Checkbook Control” Self Directed IRA and Individual 401k Plan Facilitator. We have 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 tax-free and 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.