Category, Financial Planning

ROBS 401(K): ROLLOVER AS BUSINESS START-UP OR ACQUISITION
27 NOV 2017

  1. ALLOWS INDVIDUALS TO USE THE MONEY IN THEIR 401(K) TO START OR PURCHASE A BUSINESS
  2. NO TAXESON WITHDRAWN 401(K) FUNDS
  3. NO EARLY WITHDRAWAL PENALTIES
  4. CAVEATES: MUST INCORPORATE BUSINESS, OPEN NEW 401(K) IN BUSINES, ROLL YOUR EXISTING 401(K) FUNDS INTO THE NEW PLAN (SINCE BOTH ACCOUNT ARE TAX-EXEMPT, AVOID TAX (10% PENALTY) HIT
  5. IRS HAS STRICT COMPLIANCE STANDARDS TO AVOID PENALTIES AND AUDIS
 “FIRST CLASS SOLUTION SUITE” CONTACT RTW TODAY FOR ALL YOUR TAX AND BUSINESS NEEDS DOMESTIC AND INTERNATIONALLY.  2017 TAXES SHOULD BE FILED EARLY DUE TO THE EQUIFAX DATA BREACH.   DON’T WAIT, CALL OR EMAIL NOW. info@rtwxxact.com; 216-533-6586

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SOLO 401(K): THIS IS A SELF-EMPLOYED OR INDIVIDUAL 401(K)
21 NOV 2017

  1. QUALIFIED RETIREMENT PLAN WITHOUT THE COMPLEX ERISA RULES
  2. DESIGNED FOR EMPLOYERS WITH NO FULL-TIME EMPLOYEES (HOWEVER, COVERS BUSINESS OWNERS AND SPOUSES)
  3. INCENTIVE TO SAVE FOR RETIREMENT – PAY NO TAXES UNTIL RETIREMENT
  4. MAKE CONTRIBUTIONS TO PLAN AS EMPLOYEE AND EMPLOYER
  5. TO QUALIFY MUST HAVE SOME SELF-EMPLOYED INCOME (DO NOT NEED TO WORK FULL TIME TO QUALIFY – SO CAN WORK FULL TIME WITH PART-TIME SELF EMPLOYMENT INCOME)
  6. SOLO 401(K) CAN BE ADOPTED BY SOLE PROPRIETORSHIP, LLC, PARTNERSHIP, S-CORP OR C-CORP
  7. CERTAIN INDIVIDUALS MAY BE EXCLUDED (UNDER AGE 21, NON-RESIDENT ALIENS, UNION MEMBERS FOR WHICH RETIREMENT BENEFITS WERE SUBJECT TO COLLECTIVE BARGAINING AGREEMENT, ETC.)
  8. 2 TYPES; BROKERAGE BASED AND SELF-DIRECTED (AKA “CHECKBOOK CONTROL”)
  9. CONTRIBUTION LIMITS ARE THE SAME AS REGULAR 401(K)’S. HOWEVER, THERE ARE OTHER CAVEATS OR CALCULATIONS BASED ON YOUR BUSINESS STRUCTURE.
“FIRST CLASS SOLUTION SUITE” CONTACT RTW TODAY FOR ALL YOUR TAX AND BUSINESS NEEDS.  2017 TAXES SHOULD BE FILED EARLY DUE TO THE EXPERIAN DATA BREACH.   DON’T WAIT, CALL OR EMAIL NOW. info@rtwxxact.com

Posted by robbie Categories: Financial Planning Comments: Post closed for comments