Self-Directed Solo 401(K) Plans with checkbook control expected to see surge in interest from the self-employed for 2013
IRA Financial Group, the leading solo 401(k) Plan provider expects to see strong demand for its self-directed solo 401(k) Plan product from the self-employed and small business owners in the fourth quarter of 2013. “Because the contributions limits for 2014 will remain the same as 2013, many self-employed individuals and small business owners are looking to establish a solo 401(k) plan for the 2013 taxable years, “ stated Susan Glass, a retirement tax specialist with the IRA Financial Group.
A solo 401(k) Plan, also known as an individual 401k Plan offers one the ability to make annual contributions of up to $51,000 ($56,500 for those over the age of 50), borrow up to $50,000, as well as use his or her retirement funds to make almost any type of investment on their own tax-free and penalty free without requiring the consent of any custodian or person. “Establishing a solo 401k plan offers a self-employed business owner a number of exciting tax, retirement, and investment advantages, including the ability to defer up to $56,500 annually as well as gain greater control over their retirement plan investment options” stated Adam Bergman, a tax attorney with the IRA Financial Group. “IRA Financial Group’s solo 401(k) plan is unique and so popular because it is designed explicitly for the self-employed professional and small business owners with no full-time employees who want a flexible retirement plan with no burdensome annual administrative requirements, “ stated Mr. Bergman.
There are many features of the IRA Financial Group’s solo 401K plan that make it so appealing for small business owners for the 2013 taxable year. IRA Financial Group’s solo 401K plan will allow a plan participant to make annual contributions in 2013 up to $51,000 annually with an additional $5,500 catch-up contribution for those over age 50. The high contribution feature is one of the reasons a solo 401K plan is the most popular retirement vehicle for the self-employed. In addition, with IRA Financial Group’s solo 401k plan, a plan participant will be granted checkbook control over his or her retirement funds. With IRA Financial Group’s self directed solo 401K plan, the plan account can be opened at any local bank, including Chase, Wells Fargo, and even Fidelity. In addition, the plan participant can make almost any traditional as well as non-traditional investments, such as real estate, precious metals, tax liens, and much more.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP and Dewey & LeBoeuf LLP.
IRA Financial Group is the market’s leading “Checkbook Control” Self Directed IRA and Solo 401k Plan Facilitator. We have helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate tax-free and without custodian consent!