401k Business Funding Structure
Monday, May 11
QUESTION: I have a former employer 401k and old IRA that I would like to use to for the 401k business funding structure. Can I rollover my 401k and IRA to a stocks bonus plan and then use the stock bonus plan for the 401k business funding structure?ANSWER: No. Because the 401k business funding...
Partner with Self-Directed Solo 401k in Real Estate Purchase
Friday, May 08
So if I purchase an investment single family residence with $100k of my and say $50k in personal funds...QUESTION 1. Can I do this? 2/3 and 1/3 ownership. Answer: Yes the ownership is based on the amount of funds put up by each investor. to read more information on how to title this type of i...
Use my retirement plan to fund or start a business - ROBS IRS
Monday, May 04
Below is a typical question that I receive regarding using retirement funds to fund or start a business:QUESTION: Can you please explain how you can use your retirement funds such as a 401k to start a business? I have read a lot of information online and I’m not quite sure it is allowed or not to...
Withdraw Funds from Solo 401K to Pay for Daughters College
Friday, May 01
QUESTION: Our daughter is attending Georgetown Law in DC. Please confirm we can withdraw funds from the remaining balance in our Solo 401K to pay for her tuition, room, & board.ANSWER: Unlike an IRA which allows for early distributions if the proceeds are used to pay for and thus escape ...
IRA & 401k Franchise Business Financing and Funding-Do's and Don'ts
Wednesday, April 29
Labeled as Rollover as Business Startups, or ROBS by the Internal Revenue Service (IRS), the use of retirement funds to finance or fund one’s own franchise business has exploded in popularity, with over 15,000 businesses funded using retirement funds in the last 10 years. To help current and futu...
Best Way to Invest a Self-Directed Solo 401k in Real Estate
Tuesday, April 28
Now that I have opened my self-directed solo 401k, I have identified a property, and have the following questions with regards to the best way to go forward.QUESTIONS: The property will be a buy and hold. Is it recommended to set up an LLC owned by the Solo 401k? If LLC is recommended, what is th...