Using 401k to buy a business
Sunday, April 28
While the Employee Retirement Income Security Act of 1974 (ERISA) permits the use of 401k retirement funds to buy your own business (commonly referred to as rollover as business start up (ROBS), the following rules should first be understood before using your 401k funds to buy a business:The ROBS...
401k Business Funding Facts
Saturday, April 27
The funding of your own business through the purchase of employer stock (equity investment) using retirement funds is most commonly known as 401k business funding because a 401k/PSP is adopted by the new business that is structured as a C-Corporation (because only stock can purchased not units an...
IRA and Solo 401k Plan Assets not always exempt from bankruptcy
Sunday, March 10
 In Daniels v. Agin bankruptcy court case involving debtor’s IRAs and profit sharing plan, the court basically ruled that the debtor’s IRAs, which were originally funded via rollover from his 401k profit sharing plan, were not exempt from creditors bankruptcy estate because the IRA participant ...
Roth IRA LLC | Traditional IRA LLC
Monday, February 11
 Before continuing to setup an IRA with check book control, which entails either forming a new LLC or Corporation, first familiarize yourself with the IRA rules. For instance, as a court case from 2012 titled “Taproot Administrative Services v. Commissioner,  109 AFTR 2d 2012-1446, U.S. Court of ...
Solo 401k Beneficiary | Plan Beneficiary Form
Sunday, February 10
 A recent court case from 2012 titled, Herring v. Campbell, Administrator of Marathon Oil Company Thrift Plan, U.S. Court of Appeals for the Fifth Circuit, 8/17/12, further confirms the importance of making sure a beneficiary election form has been completed and kept up to date when opening a qua...
Solo 401k Roth | New Solo 401k Roth Rules
Saturday, January 12
 The new updates to the regulations effective 2013 and future years further support why solo 401k owners should at the very least consider processing a partial in-plan Solo 401k Roth conversion. The American Taxpayer Relief Act of 2012 now allows for the conversion of all amounts to a solo 4...