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Updated over 7 years ago, 04/10/2017

User Stats

56
Posts
8
Votes
Alec Sithong
  • Charlotte, NC
8
Votes |
56
Posts

401k rollover to c Corp business

Alec Sithong
  • Charlotte, NC
Posted

as I look into starting my C corp I have some questions. When I roll over my 401 K into C Corp do I have the cash to build my business or does it act as a loan to pay back my retirement fund?

User Stats

13
Posts
11
Votes
Jeremy C.
  • Investor
  • Los Gatos, CA
11
Votes |
13
Posts
Jeremy C.
  • Investor
  • Los Gatos, CA
Replied

@Alec Sithong I'm curious how your journey went. Do you mind sharing on the BP forum a little bit? (Of course I hope it has been a great success.)

User Stats

56
Posts
8
Votes
Alec Sithong
  • Charlotte, NC
8
Votes |
56
Posts
Alec Sithong
  • Charlotte, NC
Replied

@Jeremy C. It's going well. I've decided to start another business entity LLC to do passive income rental properties and keep the C-Corp as an active business flipping houses. Tax for LLC will be S-corp. Hope this helps. PM me if you have further questions.

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