Posted on: July 31st, 2012 by admin@cpp
Business owners looking to make a building purchase for that company may be able to use their retirement funds to finance the transaction without taking on debt, Guidant Financial writes.
The process and method for doing so has actually been in place for decades, but is not significantly utilized by many business owners. While companies are typically allowed to remove half of the 401(k) plan through a loan program, it is possible to will take 100 percent out of the fund, without any taxes or penalties involved, for a commercial property purchase.
Both the Internal Revenue Service and the Employee Retirement Income Security Act of 1974 allow this business capital transaction to occur. While the transaction may seem complicated, it can be a helpful way for business owners to fund their own growth.
Some companies looking at Atlanta commercial real estate properties may have an interest in opting for this instead of a traditional bank loan, as it will help them avoid all types of loan debt associated with working with a financial institution. In addition, by utilizing the help of an expert, business owners can use their own savings to help drive the success of their company.
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