31 Aug Let’s Chat…with Jim Parker: How to Buy a Small Business with ROBS 401k. PENALTY FREE & TAX FREE
Buy a small business with a 401k penalty free & TAX FREE. We provide VITAL INFORMATION that anyone thinking about funding a business purchase with this program called Rollover for Business Start-ups (ROBS).
ROBS allows you to withdraw your monies early from your retirement accounts without any penalty. It is a very powerful funding option to help in financing a sale of a small business. It can be used with a start-up business, a franchise or to buy an existing business that is for sale.
You can purchase a business with just your 401k or you can leverage it with an SBA Loan to maximize the size of business you can purchase.
If you are considering SBA Financing as well, check out this video:
To use a ROBS 401k, the company must be a C-Corp and not a S-Corp. If you want to hear about Dr. Basi discuss why a C-Corp is better that a S-Corp right now check out this video:
Please leave a comment below. We would love to hear if you would consider using your 401k to buy a business with no penalty using the ROBS program.
Our guest this week was:
Adam Bergman
Founder
IRA Financial
ABergman@irafinancial.com
www.irafinancial.com
Sincerely,
Jim Parker
Business Broker (Orlando, Tampa, Sarasota & Jacksonville)
Boss Group International
Florida Real Estate Broker
