Let’s Chat with Jim Parker: Acquiring a Business with ROBS

Let’s Chat with Jim Parker: Acquiring a Business with ROBS

In this episode of “Let’s Chat,” Jim Parker discusses how business brokers can help clients acquire businesses using their retirement funds without tax penalties through Rollovers as Business Startups (ROBS). Guest expert Suzy Granger of Guidant Financial explains the process, legal requirements, benefits, and risks associated with ROBS, including setting up a C corporation and a self-directed 401(k) plan under ERISA law. They cover scenarios, the importance of compliance, ongoing support for clients including bookkeeping, and the impact of ROBS on buyers’ retirement savings and business acquisition strategies. Suzy shares insights into the setup process, optimal timing for fund transfer, and the benefits of offering retirement plans to employees in a ROBS-financed business.

 
 
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