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Retirees Looking to Use Retirement Funds to Start Family Business for Children, According to IRA Financial Group Survey

Thursday, September 19th, 2013


Miami, FL (PRWEB) September 11, 2013

IRA Financial Group, the leading provider of Self-Directed IRA and Solo 401(k) Plans, has seen an increase number of retirees looking to use their retirement funds to start new businesses with family members. We have heard from a number of retirees who were bored with retirement and were looking to keep busy in retirement while helping their family work in a family business,” stated Adam Bergman, a tax attorney with the IRA Financial Group. According to Mr. Bergman, “a number of retirees have found retirement dull and with the lack of jobs available for their children, have decided to use their retirement funds to start a new business to keep busy while also helping their children with employment opportunities.

The rollover business start-up (ROBS) arrangements typically involves rolling over a prior IRA or 401(k) plan account into a newly established 401(k) plan, which a start-up C Corporation business sponsored, and then investing the rollover 401(k) Plan funds in the stock of the new C Corporation. The funds are then deposited in the C Corporation bank account and are available for use for business purposes. The ROBS strategy has allowed many retirees the ability to use their retirement funds,” stated Mr. Bergman.

With IRA Financial Groups ROBS structure, the limitation imposed using a Self-Directed IRA for a business can be sidestepped because the individual retirement account business owner would not be able to be actively involved in the business, earn a salary, or even personally guarantee a business loan. Whereas, if the business owner used a ROBS strategy, that individual would be able to be actively involved in the business, earn a salary, as well as personally guarantee a business loan without triggering the IRS prohibited transaction rules.

In addition, IRA Financial Groups Solo 401(k) Plan loan feature has been an alternative structure used by many retirees to make investments in an active trade or business. 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 interest rate must be set at a reasonable rate of interest – generally interpreted as prime rate + 1%. As of 9/1/13 prime rate is 3.25%, which means participant loans may be set at very reasonable Interest rate. The Solo 401(k) plan is a perfect structure for any retiree seeking immediate funds to start a family 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 market’s leading provider of self-directed IRA LLC checkbook control 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 without custodian consent.







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Austin, Texas Real Estate Breaks Records, as Sales and Prices Increase, According to the Austin Home Search Leaders at Regent Property Group

Wednesday, August 28th, 2013


Austin, Texas (PRWEB) August 21, 2013

Austin home search brokerage Regent Property Group announces median year to date sold home prices are over $ 28,000 higher in Austin, Texas than this time in 2012, with over 700 more homes selling in this time period compared to last year. With a median year to date sold price of $ 261,900 last year, and a median year to date sold price of $ 290,000 in 2013, most buyers are paying over ten percent more for comparable Austin homes in the span of just one year.

Additionally, the Austin Board of REALTORS

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New Trend of Americans Wishing to Hold Foreign Assets Without IRS Reporting Turning to Solo 401(k) Plan & Self-Directed IRA, According to IRA Financial Group Attorney

Saturday, August 24th, 2013


Miami, FL (PRWEB) August 16, 2013

IRA Financial Group, the leading provider of self-directed IRA and Solo 401(k) Plans, has seen a surge an interest for the self-directed IRA and Solo 401(k) product as a vehicle to hold assets outside of the United States without triggering any U.S. reporting requirements. The main trigger for cutting ties with U.S., several lawyers say, is the Foreign Account Tax Compliance Act, or Fatca, which requires foreign institutions to disclose the overseas assets of U.S. green-card holders and citizens to the U.S. government. The main objective of Fatca is to identify people who may be evading taxes through offshore investment vehicles.

U.S. citizens, U.S. individual residents, and a very limited number of nonresident individuals who own certain foreign financial accounts or other offshore assets must report those assets using IRS Form 8938. In general, taxpayers with a total value of specified foreign financial assets below a certain threshold do not have to file Form 8938. If the total value is at or below $ 50,000 at the end of the tax year, there is no reporting requirement for the year, unless the total value was more than $ 75,000 at any time during the tax year. It is important to remember that the new Form 8938 filing requirement does not replace or otherwise affect a taxpayers obligation to file Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts), stated Adam Bergman, an in-house tax attorney with the IRA Financial Group. According to Mr. Bergman, individuals must file each form for which they meet the relevant reporting threshold.

According to Mr. Bergman, when using retirement funds to make foreign investments, either via a self-directed IRA or a qualified retirement plan, such as a Solo 401(k) Plan, the IRS under the FBAR rules and IRS Form 8938 exempt retirement accounts from such filings. As a result of the very stringent foreign bank account filing requirements, there has strong interest in U.S. persons wishing to hold assets outside the U.S.

IRA Financial Groups Self-Directed IRA and Solo 401(k) Plan are perfect vehicles for U.S. retirement investors looking to self-direct their retirement funds and make traditional as well as non-traditional investments tax-free. We have seen an surge in demand from clients looking to hold assets outside the U.S. and not be bogged down with very complex filing requirements, stated Mr. Bergman.

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 IRA & Solo 401(k) Plan 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.







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Self-Directed IRA Investors Reaping Major Gains in Strong 2013 Hosing Market, According to IRA Financial Group Survey

Sunday, June 2nd, 2013


Miami, FL (PRWEB) May 29, 2013

IRA Financial Group, the leading facilitator of self directed IRA LLC structures announces the finding of a 2013 client survey that found a strong percentage of self directed IRA and Solo 401k plan investors that established an IRA for real estate or Solo 401K plan for real estate experienced strong gains in their real estate investments. The IRA Financial Group survey is consistent with The Standard & Poors Case-Shiller index which announced on May 28, 2013 that home prices in March rose by 10.9% compared to one year earlier, the largest such gain in nearly seven years.

Retirement investors are beginning to reap the rewards of real estate investments made over the last few years into a depressed U.S. real estate market, stated Adam Bergmam, a tax attorney with the IRA Financial Group. By purchasing the real estate assets in a self-directed IRA LLC, the investors have been able to defer the tax due on the gains and re-invest those funds into additional real estate investments, stated Mr. Bergman.

According to Mr. Bergman, IRA Financial group helped thousands of retirement investors establish self-directed retirement solutions in order to take advantage of a real estate market that many believe had it the bottom.

The IRS has always permitted an IRA to purchase real estate, raw land, or flip homes. With IRA Financial Groups self-directed IRA LLC solution, buying rental properties is as simple as writing a check and is tax-free, stated Scott krokoff, a tax attorney with the IRA Financial Group. As the manager of your Self-Directed IRA LLC, the IRA holder will have control over his or her IRA funds so that a real estate purchase can be made by simply writing a check, stated Mr. Krokoff. One major advantage of buying rental properties with a Self-Directed IRA is that all rental income generated by the property is tax-deferred until a distribution is taken (Traditional IRA distributions are not required until the IRA owner turns 70 1/2). In the case of a Self-Directed Roth IRA LLC, all gains are tax-free.

IRA Financial Groups true self-directed IRA LLC solution involves the establishment of a limited liability company (LLC) that is owned by the IRA (care of the IRA custodian) and managed by the IRA holder or any third-party. As manager of the IRA LLC, the IRA holder will have control over the IRA assets to make real estate and other investments tax-free and without custodian consent.

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Self-Employed Individuals Failing to Take Advantage of Solo 401(k) Plan Tax Credit, According to IRA Financial Group Tax Attorney

Tuesday, March 12th, 2013


Miami, FL (PRWEB) March 06, 2013

IRA Financial Group, the leading provider of Solo 401(k) Plans has seen an increasing number of self-employed individuals and small business owners using the retirement savings credit as an incentive to establish a solo 401K Plan in 2013. Under the retirement savings contribution credit, retirement plan participants (including self-employed individuals) who make contributions to their plan may qualify for the retirement savings contribution credit. The maximum contribution eligible for the credit is $ 2,000. To take the credit, the individual must use IRS Form 8880, Credit for Qualified Retirement Savings Contributions. Under the retirement savings contributions credit, an individual may be able to take a tax credit of up to $ 1,000 ($ 2,000 if filing jointly) for making eligible contributions to a Solo 401(k) Plan, stated Adam Bergman, a tax attorney with the IRA Financial Group.

To be eligible for the Credit for Qualified Retirement Savings Contributions

The individual claiming the credit must be: (i) age 18 or older; (ii) not a full-time student;, (iii) not claimed as a dependent on another persons return; and (iv) with an adjusted gross income not more than: $ 57,500 if your filing status is married filing jointly (for 2012; $ 59,000 for 2013), $ 43,125 if your filing status is head of household (for 2012; $ 44,250 for 2013), or $ 28,750 if your filing status is single, married filing separately, or qualifying widow(er) (for 2012; $ 29,500 for 2013).

The amount of the credit one can get is based on the contributions made to the solo 401(k) plan and the individuals credit rate. The credit rate can be as low as 10% or as high as 50%, stated Adam Bergman, a tax attorney with the IRA Financial Group. The Qualified Retirement Savings Contributions credit is applicable to contributions made to the Solo 401(k) Plan and does not include rollover contributions, stated Mr. Bergman.

The following example illustrates how the Qualified Retirement Savings Contributions credit works. Tom is self-employed and has a small consulting business. Tom is married and earned $ 30,000 in 2012. Toms wife is unemployed in 2012 and did not have any earnings. Tom contributed $ 1,000 to his Solo 401(k) Plan in 2012. After deducting his Solo 401(k) Plan contribution, the adjusted gross income shown on his joint return would be $ 29,000. Tom would be able to claim a 50% credit, $ 500, for his $ 1,000 Solo 401(k) Plan contribution. Many eligible self-employed individuals who qualify for the credit aren’t benefiting because they are not aware of the available credit, stated Mr. Bergman.

IRA Financial Groups self-employed 401(k) Plan was designed to offer investors 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 Ameitrade and more . In addition, IRA Financial Groups Solo 401(k) Plan will allow a self-employed individual or small business owner the ability to defer up to $ 51,000 ($ 56,500 for someone over the age of 50), as well as gain the ability to borrow up to $ 50,000 tax and penalty free and use the loan proceeds for any purpose.

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 Individual 401(k) Plan 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.







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