Potential ROBS Drawbacks to Buy a Business
ROBS drawbacks do exist, even though it is a legal structure with many benefits. It’s important to consider potential drawbacks, such as IRS audits before using the ROBS solution to buy a business.
Solo 401(k) Rules for the Self-Employed
Solo 401(k) rules are easy to understand when you work with the tax professionals at IRA Financial. Learn about prohibited transactions and more.
Solo 401(k) Advantages
A Solo 401(k) is the perfect retirement plan for sole proprietors, small businesses, and independent contractors, such as consultants. Any business with no employees can adopt a Solo 401(k) plan. The business can be a sole proprietorship, LLC, corporation, or partnership. A Solo 401(k) plan offers the same advantages as a Self-Directed IRA LLC, but […]
Best Retirement Plans for the Self-Employed
Retirement plans for the self-employed include the Solo 401(k), SEP IRA and SIMPLE IRA. We explain which plan is best for self-employed workers.
The Self-Directed SEP IRA
What is a Self-Directed SEP IRA? A Self Directed SEP IRA LLC “Checkbook Control” structure is an IRS approved and Tax Court certified structure that offers one the ability to use his or her SEP IRA funds to make almost any type of investment on their own without requiring the consent of a custodian. Tired […]
Getting Started with an Individual 401k Plan
Start an individual 401(k) plan today. It’s easy and cost-effective, Also called the solo 401(k), the plan is ideal for self-employed and small business owners who wish to make non-traditional investments.
The Rollover Business as Startups (ROBS) Solution – The Pros and Cons
ROBS stands for Rollover for Business Startups. The IRS describes ROBS as “an arrangement in which prospective business owners use their retirement funds to pay for new business start-up costs.” Essentially, the ROBS solution lets you use your retirement funds (IRA, 401(k), etc.) to start your own business. Note: you can also use ROBS to […]
How to Contribute to a Solo 401k
We share how to contribute to your Solo 401k as both employee and employer. This plan s great to maximize your retirement savings if you stated saving late.
Self-Employed 401k Plan Advantage
Self-Employed 401k Plan Advantages for Small Business Owners A Self-Employed 401k Plan, also known as the Solo 401(k) Plan, is an IRS approved retirement plan. It is best suited for business owners who do not have any employees other than themselves and perhaps their spouse. The Self-Employed 401k Plan (aka, One-Participant 401(k) Plan by the […]
Have a Side Hustle? Establish A Solo 401k
You can get a side hustle to establish the Solo 401k, which is the most robust retirement plan for self-employed and small business owners.