IRA FAQ What is an Individual Retirement Account(IRA)?An Individual Retirement Account (IRA) is the most common type of retirement account. As of 2018, there are approximately 50 millions IRAs totaling approximately $9.4 trillion dollars. The most common type of IRAs are Traditional IRA, Roth IRA, SEP IRA, and the SIMPLE IRA....
Read Post
Business Acquisition Solution FAQ Is it permitted to use my retirement funds to invest in a new or existing business?If structured correctly, yes. IRC Section 4975(c) includes a list of transactions that the IRS deems “prohibited”. However, Internal Revenue Code Section 4975(d) lists a number of exemptions to the prohibited transaction...
Read Post
Self-Directed IRA FAQ If I am self-employed, is there any reason I would not want to adopt a solo 401(k) Plan vs. a Self-Directed IRA LLC?If you are self-employed or a small business owner with no full-time employees other than the owners, the Solo 401(k) Plan offers the same benefits of...
Read Post
Solo 401(k) FAQ What is a qualified plan?A qualified plan is a type of retirement savings plan that an employer establishes for its employees that conforms to the requirements of Section 401 of the Internal Revenue Code. It is called a "qualified plan" because it meets all the requirements of Section...
Read Post
Get a Free Consultation