Mar 28

Strong Demand for Solo 401k Plans in Anticipation of ObamaCare

Small Businesses Using Independent Contractors to circumvent ObamaCare penalties has triggered increase demand for Individual 401(k) Plan

IRA Financial Group, the leading provider of the self-directed solo 401(k) Plans has seen an increase number of small business owners having the opportunity to establish a Solo 401K Plan because of the emerging reliance on independent contractors. Due to the increased reliance on independent contractors to avoid hitting the 50-employee threshold, which would require them to pay for employees’ health insurance, starting next year, a number of small businesses are now able to adopt a Solo 401K plan because they have eliminated their full-time employees. “Not all small business owners have been able to turn all their full-time employees to independent contractors, but a number of businesses have tried in order to not be subject to the ObamaCare costs, “ stated Maria Ritsi, a paralegal with the IRA Financial Group. “The appeal of using outside non-employee workers is growing as many small businesses are trying to stay under the 50-employee threshold that would require them to pay for employees health insurance, beginning under the federal health-care law, or be subject to a penalty, “ stated Ms. Ritsi.

The Internal Revenue Service has started to crack down on small businesses to ensure their workers are properly classified. “We have seen a number of clients that were close to the 50-employee threshold, turn their workforce into independent contractors in order to not be subject to the ObamaCare penalty, “ stated Adam Bergman, a tax attorney with the IRA Financial Group. “Not all small business are able to turn to contractors to eliminate the reach of the federal health-care law, but we have seen an increasing number of small business owners try, “ stated Mr. Bergman.

“We have strongly advised clients to be extremely conservative in re-classifying past employees as independent contractors as the Internal Revenue Service have spending significant resources in this area, “ stated Mr. Bergman. “However, as business condition continue to be tough, companies are looking to remain competitive, especially with the increased costs assisted with ObamaCare, stated Ms Ritsi.

Small businesses that have been able to properly reclassify their employees as independent contractors have been eligible to adopt a Solo 401(k) Plan, which offers multiple benefits. IRA Financial Group’s Solo 401(k) Plan was designed to offer investors with a diverse and wide array of investment opportunities for their retirement funds. Clients can purchase stocks, mutual funds, precious metals, real estate, and much more. In addition, the Solo 401K Plan account can be opened at any local bank and financial institution, including Fidelity, Scottrade, TD Ameritrade and more. However, the most popular feature of the Solo 401K Plan is that a self-employed individual or small business owner can defer up to $56,500 annually as well as borrow up to $50,000 and use the loan proceeds for any purpose without tax or penalty.

IRA Financial Group open architecture Solo 401(k) Plan was designed specifically to provide self-employed investors with the ability to make a wide variety of investments through a single retirement account.

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, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market’s leading “checkbook control Self Directed Individual 401K provider. IRA Financial Group has 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 without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

Mar 27

Transferring a 403b to an IRA

If you work for a school, hospital, or other nonprofit you probably have access to a 403b plan.  These plans work like 401k plans at for-profit companies.  There are several reason you might want to move the money into your Individual Retirement Account (IRA).  These include consolidating all your retirement plans, looking for lower fees or looking to have more control.

The first questions to ask is if you are eligible to make this move.  If you are under age 59 1/2 and are still working for the employer who sponsors the plan, you cannot withdraw money and transfer it to an IRA.  You can withdraw money for reasons like hardship withdrawals and loans, but you can’t rollover that money into an IRA.  However, if you are at least 59 1/2 years old or have left your job for whatever reason, you are eligible for an IRA transfer.

The first option for moving your money from your 403b to an IRA is a transfer.  This is the easiest method.  All you need to do is fill out a transfer request form with your personal information and your account information from both your 403b and IRA.  Your bank will take it from there and your money will soon be in your IRA.

The other options is to perform a rollover.  To do this, you would take a distribution from your 403b plan and then contribute it to your IRA.  You have 60 days to perform this type of move.  You can do whatever you want with the money during that time frame so long as you deposit the money into the IRA before the deadline passes.

The importance of the 60 day deadline is that if done properly, you won’t need to pay taxes on the rollover.  Failure to deposit the money in that time will make the maneuver a regular distribution and you will have to pay taxes at your current rate.

If you are rolling the money into a Roth IRA, then you will have to pay taxes since a Roth is an after-tax retirement plan.  The benefit of this is that you won’t owe taxes on any earnings you make when you take proper distributions.

The tax experts at the IRA Financial Group can help you with rollovers and set up your IRA plan for you.  Give them a call at 800.472.0646 or visit their website today!

Mar 26

Mistakes 401k Investors Make

This article is for those who are already contributing to a 401k plan.  If you’re not…what are you waiting for?  Kudos if you are investing in your future, but you may be making some mistakes.  Here is a good article that talks about five common mistakes investors make.

1. Not contributing the max.  In 2013, the maximum contribution you can make to your employer-sponsored 401k plan is $17,500 if you under age 50 and $23,000 if you are at least age 50.  If your employer offers a matching contribution, then usually you’ll contribute just enough to receive the full match.  It’s free money after all.  However, as you continue working and earning more money, you should be contributing as much as you can.  You don’t pay taxes on your contributions until retirement plus your contributions lower your earned income for the year.

2. Not making asset allocation decision.  Many companies offer target date funds which offer riskier strategies while you are younger (more in stocks) and get safer as you near retirement (more in bonds).  Some also offer a 50/50 split in equities and bonds.  If you are more hands-on, then you can choose your own mutual funds and asset classes.  You should choose investments based on your risk tolerance.  At least once a year, you should rebalance your assets so you maintain your personal risk tolerance.

“The theory of rebalancing is to revert to your initial asset allocation by reducing the funds that have performed well in the previous year and adding to funds that have underperformed, the opposite of what most people would do historically,” says Market Watch contributor Stephen Williams.

3. Too much company stock.  We’ve talked about this a number of times over here.  You never want to have too much vested in your workplace.  You never know what the future brings and you don’t want both your income and retirement savings connected at the hip.  Stocks could plunge and you may get laid off at the same time.  Experts say you should have no more than 10-20% in company stock.  If your match is in company stock, look to sell and move it into other positions.

4. No diversification.  If your employer offers a Roth option, you should look to contribute some funds there.  When you retire, you traditional 401k will usually convert to a traditional IRA subject to required minimum distributions once you reach age 70 1/2.  Since traditional plans are tax-deferred, you will owe taxes when you withdraw.  Roth contributions are made after-tax so withdrawals are tax-free and there are no RMDs.  If no Roth 401k options is available, look to fund a Roth IRA.  This way, you’ll get upfront tax breaks with your workplace 401k and tax-free withdrawals from your Roth account(s).

5. Borrowing from your 401k.  You should never use your retirement funds to take out a loan, especially a 401k.  Whatever money you borrow will no longer compound and grow tax-deferred.  Plus, if you lose your job, loans become due immediately.  There are other, more prudent ways to borrow money.

The first step in investing in your future is to save for retirement, whether it’s through workplace plans or individual accounts.  The IRA Financial Group will help guide you through your best course of action.  Give them a call at 800.472-0646 or visit their website now!

Mar 26

IRA Financial Group Announces Miami Office Expansion & Relocation to Landmark Lincoln Road Building

IRA Financial Group, the leading facilitator of Self Directed IRA and Solo 401(k) Plans is pleased to announce the expansion and relocation of its Miami office to the landmark Lincoln Road Building – 1688 Meridian Avenue, the city’s premier business and shopping location.

Commenting on the Miami office move, partner Adam Bergman, said: “We are excited to be in a spectacular building in a prime location in the heart of the City of Miami Beach. The move underlines our intention to invest further in our Miami office where we have a very strong and expanding team of employees.” “With offices in Miami and New York City, IRA Financial Group has been able to assist thousands of clients invest over $1.2 billion of retirement funds in non-traditional investments over the last few years, “ stated Mr. Bergman.

He continued: “Our new expanded office provides us with high quality, flexible office space with room to expand. The move will enable us to support our current client needs as well as offer us the needed space to continue to provide high quality self-directed retirement services to our increasing expanding client base.”

Lincoln Road Mall is a pedestrian-only promenade and the epicenter of what’s happening in South Beach. Located between Alton Road and Washington Avenue, Lincoln Road offers unique shopping, sidewalk cafes, bars, galleries, and fine dining.
About the IRA Financial Group

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, Dewey & LeBoeuf LLP, and Thelen LLP. With our work experience at some of the largest law firms in the country, our attorneys legal and tax knowledge in this area is unmatched.

IRA Financial Group is the market’s leading “checkbook control Self Directed IRA and Solo 401K Facilitator. IRA Financial Group has 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 without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

Mar 25

Entrepreneurs Using Solo 401k to Finance Businesses

Solo 401(k) Plan $50,000 loan feature allowing entrepreneurs to finance their new business without seeking outside financing.

IRA Financial Group, the leading provider of solo 401(k) plans for self-employed and small business owners, has seen a growing number of entrepreneurs using the Solo 401K Plan business financing solution to help finance their business.  “Entrepreneurs can rest easy if they do not get on the TV show Shark Tank to raise money for their business, with IRA Financial Group Solo 401(k) Plan, they can use up to $50,000 of their retirement funds to finance their business without tax or penalty,” stated Adam Bergman, a tax attorney with the IRA Financial Group.

Internal Revenue Code Section 72(p) allows a Solo 401K Plan participant to take a loan from his or her 401K Plan so as long as it is permitted pursuant to the business’s 401K Plan documents.

A solo 401k loan is permitted at any time using the accumulated balance of the solo 401k as collateral for the loan. A Solo 401(k) participant can borrow up to either $50,000 or 50% of their account value – whichever is less. This loan has to be repaid over an amortization schedule of 5 years or less with payment frequency no less than quarterly. The lowest interest rate that can be used is Prime as per the Wall Street Journal, which is currently 3.25%.

With IRA Financial Group’s Solo 401K loan feature, an entrepreneur who is self-employed individual or small business owner with no employees can borrow up to $50,000 tax-free and penalty free. There are no penalties or taxes due provided loan payments are paid on time. “The Solo 401(k) Plan loan has proved to be an attractive financing option for entrepreneurs seeking additional financing for their business,“ states Mr. Bergman.

IRA Financial Group’s Solo 401k Plan documents will allow a self-employed individual to use a loan from your Solo 401k for any investment purposes, including real estate, funding your business or a new business, tax liens, private placements, etc.

As a result of the recent economic meltdown, banks and other financial institutions have significantly limited their lending capacity to self-employed business owners, thus, causing grave financial pressure on self-employed business owners. IRA Financial Group’s Solo 401k Plan is a perfect structure for any self employed business owner seeking immediate funds for their business. The Solo 401(k) Plan loan is the only tax-free and penalty free way a self-employed individual or small business owner with no employees can use their IRA or 401(k) Plan retirement funds to finance or fund their business.

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, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the leading provider of Solo 401(k) Plan solutions. IRA Financial Group has 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 and private business investments without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

Mar 22

Equities for Your 401k

Found this great article at MarketWatch.com and thought I would share.  It deals with ten different asset classes that should be available in your 401k plan.

I hope you’ll remember that most investors, once they reach a certain age, should have some of their retirement savings in bond funds. That’s a separate (and very important) issue. This column is all about equities. They are the engine that will drive your returns over the years.

So let’s crank up the starter motor and go!

One: Invest in the Standard & Poor’s 500 Index SPX. (Every asset class in this list is available in an index fund.) Comprising the largest companies in the U.S., this index is widely regarded as “the market” and a tough benchmark to beat. It should be part — but only a part — of your equity investments.

In the 50 years from 1963 through last December, this index returned 9.8% per year. Remember that number, because it’s the benchmark to beat.

Two: Invest in U.S. large-cap value stocks. These are stocks that for various reasons are out of favor with most investors. Because they are unloved, in many cases they are bargains. From 1963 through 2012, an index of U.S. large-cap value stocks returned 10.9%.

Three: Invest in U.S. small-cap stocks. Smaller companies have potential to grow much faster than large ones. Microsoft, Google, Intel, Apple and even General Electric all began as small companies. Somewhere right now there’s a very small and virtually unknown company that, eight or 10 years from now, will be among the giants. If you buy a small-cap fund, you will be able to say that you owned that stock “way back when.”

From 1963 through 2012, an index of U.S. small-cap stocks returned 12.4%.

Four: Invest in U.S. small-cap value stocks. This asset class combines the advantages of small and value that we just discussed, and it has a terrific long-term record. From 1963 through 2012, an index of U.S. small-cap value stocks returned 15%.

Five: Invest in U.S. real estate stocks (REITs). REITs are a bit like mutual funds that own commercial real estate of all kinds. They aren’t suitable for accounts subject to taxes, but they are ideal for 401(k) plans and IRAs.

From 1978 through 2013 (the longest period for which I have data), an index of REITs returned 12.5%, versus 11.2% for the S&P 500 Index.

Six: Invest in international large-cap stocks. An index known as EAFE is the international equivalent of the Standard & Poor’s 500 Index in the United States. In the 43 years from 1970 through 2012, this asset class returned 9.1%. While that’s lower than its U.S. counterpart, this asset class provides valuable diversification, and in many calendar years it has outpaced the S&P 500 Index.

Seven: Invest in international large-cap value stocks. This asset class has the same attributes as its U.S. counterpart, discussed above, and it has done even better. From 1975 through 2012, international large-cap value stocks returned 14.8% versus 11.6% for the S&P 500 Index.

Eight: Invest in international small-cap stocks. The story is the same internationally as in the United States. From 1970 through 2012, this asset class returned 14.4% versus 9.9% for the S&P 500 Index.

Nine: Invest in international small-cap value stocks. It’s safe to assume that you’ve never heard of most of the stocks in this category, but it’s equally safe to predict that some of them will thrive. Investors who have owned the asset class have done well. From 1982 through 2012, international small-cap value stocks returned 14.1%, compared with 11.2% for the S&P 500 Index.

Ten: Invest in emerging markets stocks. These stocks may seem risky, but they have explosive growth potential. Having this asset class working for you makes good sense as long as it’s only a small slice.

From 1988 through 2012, emerging markets stocks returned 12.9% versus 9.8% for the S&P 500 Index.

Over all the periods in these comparisons, nine asset classes bested the S&P 500 Index by an average of 2.6 percentage points a year. Over time, that extra return can let investors retire earlier instead of later, live well instead of pinching pennies.  Even better: A study going back to 1970 found that a balanced portfolio of all these asset classes had virtually the same risk as the S&P 500 Index alone.

If you have any questions about the available asset classes talked about here, then contact the tax experts at the IRA Financial Group, who are waiting to help set you up for a better retirement.

Mar 21

401k Mistakes People Make

I ran across this article that hits on eight common mistakes that people make when dealing with their 401k plans.  Some are quite obvious and some not so much.  If you find yourself guilty of any of these, fix them as soon as possible and you’ll better yourself in the long road to retirement.

1. Owning too much in your own company’s stock.  Though the stock might be doing well and you want to be loyal to employer, you must diversify.  Wost possible scenario is that you lose your job and the stock tanks.  You are double screwed!

2. Failure to take advantage of your employer’s match.  If you’re not getting the entire match your employer offers, you’re missing out on free money.  Do everything you can to contribute at least enough to receive every penny you’re entitled to!

3. Using your 401k like a bank.  Yes, you can take loans out from your 401k and when you pay it back you pay interest to yourself, but that doesn’t mean you should.  If you lose your job before paying back the loan, you only have about 60 days to repay it or be hit with early withdrawal penalties.  Only borrow from the plan if you absolutely have no other choice.

4. Thinking you can “time” the market.  Even if you don’t pay too much attention to the markets, you’ll hear when times are good and bad.  Then, you try to get in and out based on that.  Don’t bother!  Over the long haul, you will make money in the markets.  Don’t play day-trader if you don’t know what you’re doing.

5. Investing and forgetting.  You contribute to your 401k and never look at it figuring as long as you keep money in there, it will earn for you.  However, accounts will grow unevenly and you need to rebalance at least once a year to make sure you’re comfortable with the risk you’re taking.

6. Being too conservative.  Even if you’re wary about the risks in the stock market, that doesn’t mean you should stay away from them.  There’s money to be made there even for a novice.  Stick with it and you’ll earn more than you can with safer investments like CDs.

7. Don’t forget “index mutual funds”.  If your plan offers them, they are well diversified, easy to understand and will help you immensely.  They are low-cost and have performed well for decades.

8. If you’re younger, have plenty of stocks.  We’ve talked about this a lot, but the younger you are, the more risks you can take.  You have plenty of time to make up for down years in the markets.  As you near retirement, you should invest less in stocks and more in safer things like bonds.

If you have any questions about your 401k plan or are looking to set up a retirement plan for yourself, contact the tax experts at the IRA Financial Group today!

Mar 20

The Open Architecture Roth Solo 401k Plan

IRA Financial Group, the leading provider of self-directed solo 401(k) Plan introduces the open architecture Roth Solo 401K Plan. IRA Financial Group’s Roth Solo 401K Plan is the ultimate tax-free retirement solution for the self-employed.

Unlike a Roth IRA, which limits an individual Roth IRA contributions to $5,500 annually ($6,500 if the individual is 50 years or older), in 2013, with a Roth Solo 401(k) account, an individual can make Roth (after-tax) contributions of up to $17,500, or $2300 for those 50 or older by the end of the year — allowing individuals to stock away thousands of dollars more in tax-free retirement income than they would through a Roth IRA.

“With federal and state income tax rates expected to increase in the future, gaining the ability to generate tax-free returns from your retirement investments when you retire is the last surviving legal tax shelter, “ stated Adam Bergman, a tax attorney with the IRA Financial Group. With IRA Financial Group’s Roth Solo 401K, a self-employed business owner can make almost any investment tax-free, including real estate, tax liens, precious metals, currencies, options, and private business investments tax-free. “ The real beauty of the Roth Solo 401(k) Plan is that once the business owner hits the age of 59/1/2, he or she will generally be able to live off all the Roth funds without ever paying tax, “ stated Mr. Bergman. “If one started making Roth 401K contributions in his or her thirties and by just generating a modest rate of return, her or she could have over a million dollars tax-free when they retire, “stated Maria Ritsi, a paralegal with the IRA Financial Group.

With IRA Financial Group’s Roth Solo 401(k), a small business owner who reaches the age of 591/2 can generally live off the Roth 401K investment income tax-free or take a portion of your Roth 401K funds and use it for any purpose without ever paying tax.

IRA Financial Group’s open architecture Roth Solo 401(k) Plan combines features of the traditional 401(k) with those of the Roth IRA. Like a Solo 401K Plan, the Roth Solo 401K Plan is perfect for any self-employed individual or small business owner with no employees. The Roth Solo 401K Plan contains the same advantages of a Solo 401(k) Plan, but as with a Roth IRA, contributions are made with after-tax dollars. “While one wont get an upfront tax-deduction, the Roth 401(k) Plan account grows tax-free, and withdrawals taken during retirement aren’t subject to income tax, provided the self-employed individual is at least 59 1/2 and the Roth 401(k) account has been opened for at least five years.

IRA Financial group’s Roth Solo 401K is perfect for any self-employed individual who wishes to maximize their ability to generate tax-free retirement savings while receiving the ability to invest in real estate, precious metals, private businesses or funds tax-free and without custodian consent.

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 Individual 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!

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

Mar 19

What to do with Your 401k with the Market Recovery

Now that the Stock Market is back to pre-recession levels, what should you do with your 401k?  A lot has been made in recent years about the downfalls of the workplace retirement plan due to so many people losing much of their savings with the two major market collapses between 2000 and 2009.  However, with the markets surging to record levels, many people have seen their savings bounce back.  At the end of the day, the market usually corrects itself if you give it time.

“Even if retirement is close at hand and you’re tempted to make big changes to your investment portfolio, workplace savings dollars should be managed with the long-term future in mind. Retirement is not, in reality, a single goal, but a series of goals. You aren’t using all of your savings in the first year of retirement, but actually funding many years of income needs after you leave the workforce,” says John Gin at nola.com.

If you are at least five years away from retirement, you can afford to take more of a risk since you have time to recover from any dips in the market.  Maintain a well diversified portfolio.  Though past performance makes no guarantee of future returns, these types of assets usually generate returns that outpace cost of living increases.  Avoid excess risk in your plan by not investing too much into one investment like company stock, a hot mutual fund or other highly promoted investments.  Lastly, continue to fund your 401k and other retirement plans as much as you can afford to.  If you get a bump in pay, bump up your contributions.  When you reach age 50, take full advantage of catch-up contributions as well.  The more you invest and the sooner you do it, the more earning power you will have.

Now, if you’re within five years of retirement, you should be on track to reach your retirement goals.  You don’t need to take unnecessary risks at this stage in your life.  You should scale back on more aggressive positions in your asset mix.  Your money should be positioned to keep pace with inflation.  This is your last opportunity to invest more money in your work’s 401k plan so use it to your full advantage.

So, what if you have retired?  You may or may not want to keep your money in your workplace 401k.  You can opt to roll it over into an IRA.  One thing you don’t want to do is to move all of your money out of the market.  Afterall, you still have plenty of time left in this world and you want your money to continue to grow.  Even if you don’t personally need the money, you want it to provide security for your loved ones when you pass.

No matter your age, you need to do everything you can to prepare yourself financially for retirement.  If you need help planning, contact the tax experts at the IRA Financial Group today!

Mar 18

Fund a Solo 401k Up Until Tax Return Deadline

Solution allows self-employed individuals make tax-deductible employer contributions up until tax return deadline, including extensions

IRA Financial Group, the leading facilitator of self-directed IRA and Solo 401(k) Plans announces a new solution that will allow self-employed individuals and small business owners the ability to make tax-deductible employer profit sharing contributions up until the tax return is filed. A self-employed individual who has not adopted a solo 401(k) Plan during that year would not be able to make an tax deductible contributions with respect to that tax year. However, IRA Financial Group’s Self-Directed SEP IRA solution would allow a small business owner with no employees the ability to make tax-deductible employer contributions for a prior tax year. “Our Self-Directed SEP IRA LLC solution will allow an entrepreneur to make tax deductible contributions for the 2012 taxable year and then roll those funds into the Solo 401(k) Plan solution,” stated Adam Bergman, a tax attorney with the IRA Financial Group.

IRA Financial Group’s Self-Directed SEP IRA solution will allow a business owner to make tax deductible contributions up to (i) 25% of the compensation amount, or (ii) $51,000, whichever is less. A Self-Directed SEP IRA, also called a Self-Directed SEP IRA LLC with checkbook control, is an IRS approved structure that allows one to use their retirement funds to make real estate and other investments tax-free and without custodian consent. The Self-Directed SEP IRA involves the establishment of a limited liability company (“LLC”) that is owned by the IRA (care of the IRA custodian) and managed by you or any third-party. As manager of the IRA LLC, the IRA holder will have control over the IRA assets to make the investments he or she wants and understands – not just investments forced upon you by Wall Street.

Through IRA Financial Group Self-Directed SEP IRA solution, the small business owner would be able to rollover tax-free the SEP IRA funds into a newly established Solo 401(k) Plan, which would offer the business owner with enhanced retirement benefits. Through IRA Financial Group’s Solo 401K Plan, a self-employed individual would gain the ability to make high tax-deductible contributions (up to $56,500), borrow up to $50,000 tax-free and use the loan proceeds for any purpose, as well as make real estate and other investments on their own tax-free and penalty free without requiring the consent of any custodian or person.

“By implementing our Self-Directed SEP IRA LLC solution in conjunction with a Solo 401(k) Plan, a self-employed individual would be able to make tax deductible contributions for a prior tax year and roll those funds tax-free into a Solo 401(k) Plan for the upcoming taxable year, “ stated Mr. Bergman. “Using the Self-Directed SEP IRA would allow the self-employed individual to take advantage of making tax-deductible contributions for a prior tax year where no Solo 401(k) Plan has been established,” stated Mr. Bergman.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.