Archive for February, 2015

Four Potential Drawbacks of Using Retirement Funds to Buy a Business

February 25th, 2015

When it comes to using retirement funds to buy or finance a business that you or another “disqualified person” will be involved in personally, there is only one legal way to do it and that is through the Business Acquisition Solution, also known as a Rollover Business Start-Up solution (ROBS). The ROBS solution takes advantage […]

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Prohibited Transaction Rules for the Solo 401k Plan

February 18th, 2015

The Internal Revenue Code & ERISA does not describe what a Solo 401k Plan can invest in, only what it cannot invest in. Internal Revenue Code Sections 408 & 4975 prohibits Disqualified Persons from engaging in certain type of transactions. The purpose of these rules is to encourage the use of qualified retirement plans for […]

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Strong Demand for Solo 401(k) Plans in 2015 In Light of Increased Contribution Limitation from 2014

February 12th, 2015

2015 Solo 401(k) Plan contributions limits to increase to $53,000 or $59,000 if over the age if 50 and continue to be more popular than the SEP IRA for the self-employed. IRA Financial Group, the leading provider of self-directed solo 401(k) plans has seen a surge in demand from self-employed and small business owners looking […]

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How to Select the Best Solo 401k Provider

February 4th, 2015

Selecting the best Solo 401(k) plan provider is an important decision that should be researched thoroughly. Below are several tips to help you select the best Solo 401(k) Plan provider for your self-employed or small business retirement plan. 1. Always Make Sure You Are Working With a Tax & ERISA Professional: There are several companies […]

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