Ok, now it's time to solve the mystery. (Final Post) [see previous here] In 1978 Jimmy Carter reorganized the government with this order, and this took the issue of retirement account prohibited transactions away from the domain of the IRS and gave it to the Department of Labor (DOL). This fact … [Read more...] about The End of Small Business Financing with IRA and 401k Funds? (Part 3)
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The End of Small Business Financing with IRA and 401k Funds? (Part 2)
[This is a continuation of a previous post. You should read that one first so this makes sense.] The IRS Responds For the first time ever, the IRS actually addressed the "financing a small business with an IRA or 401(k)" strategy. They called it "ROBS" for "roll over business startup," and issued … [Read more...] about The End of Small Business Financing with IRA and 401k Funds? (Part 2)
The End of Small Business Financing with IRA and 401k Funds? (Part 1)
Guidant calls it Audeo. Benetrends calls it Rainmaker. SDCooper calls it ERSOP. It goes by many names and it's gotten a lot of attention from the franchise industry and, as of about a year ago, the IRS. The IRS calls it "ROBS" for Roll-Over Business Startup. What is it? It's a strategy where a … [Read more...] about The End of Small Business Financing with IRA and 401k Funds? (Part 1)
Why to self-trustee your Solo 401k plan: An argument for direct possession of your assets
We have seen some unbelievable things over the past few years... especially the past few months. The only thing certain is that there is a lot of uncertainty ahead. If you haven't already done so, right now I strongly suggest you watch the 30 minute condensed version of the film I.O.U.S.A. This film … [Read more...] about Why to self-trustee your Solo 401k plan: An argument for direct possession of your assets
Financing a business with retirement funds
By far, one of the most luring propositions is Fund your dream business with your retirement fund "But, how?" you ask, "isn't it a prohibited transaction to invest your plan (IRA/401k) into something that involves myself as disqualified person?" Yes. As a general rule, it is prohibited for your … [Read more...] about Financing a business with retirement funds