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Avoid These Work From Home Scams!
Earn $300 an hour and work from home! No selling, no cold calls!
You've seen the ads, not only on the internet but in newspapers, on
signposts, on flyers and on television. 'It's so easy! You just...' place a few simple ads. Stuff some envelopes....
Best Home Based Business for Cooks
You don't need to be a chef to find a career in cooking. A best
home based business for cooks is a personal chef business. If
you want to cook on a larger scale, another best home based
business for cooks is catering. Using your love of cooking...
How To Start A Home Based Gift Basket Business
Many of us dream of working from home, spending more quality time with our families. I decided to do just that. Yes i was afraid of failing, not being able to handle the pressures of running a business, and looking after my family at the same...
Transferring your Home Business to the Web
After you have launched your home based business you will
eventually have to decide if you are going to "make the jump" to
the world wide web and conduct some or all of your business
there. The benefits of doing so are potentially huge. There...
You can work at home and love it!
What are you passionate about? What do you believe in? Is there a product or service that you find yourself just raving about with friends and family! Share your talents, experiences, and beliefs through a home business. Choosing a work at...
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The Individual 401k - BIG Business Benefits For The Home Business
Major mutual fund and investment management companies now offer
self employed individuals 401k plans that are easy to install
and administer at very low cost. What's more independent
contractors and small business owners can borrow part of
their retirement savings tax-free and penalty free by taking
advantage of a loan provision in these new plans. Depending
on who's offering them, these individual plans are sold under
different trademarked names such as (solo 401k, uni-k plan,
personal(k), one person 401k, mini-401k, solo-owner 401k,
etc.,.)
Small business owners can establish an individual 401k and
transfer their IRA, 401k, 403b, or other qualified retirement
funds into this new retirement plan. Once the funds are in
the plan, owners can borrow 50% of their 401k account balance
up to $50,000 tax-free and penalty free provided they pay back
the loan.
Any business owner with no employees other than co-owners or
spouses can establish an individual 401 k plan. It doesn't
matter if you are a startup or been in business for years.
Your may work as an independent contractor with 1099 income,
freelancer, sole proprietor, or in a partnership, Limited
Liability Company (LLC), or corporation.
.
It is fairly common for employees of large companies to have
the option to borrow from their 401(k). But before 2002, small
business owners were not allowed the same privilege. Instead,
owners needing to tap their retirement funds for whatever
reasons had to take cash distributions from their IRAs or
other retirement accounts. This required them to pay federal
and
state taxes on the distributions, plus generally a 10%
penalty if they were under age 59 ½. They also lost the chance
to put the money back into their retirement accounts.
Borrowing from an IRA is still prohibited. But one can
consolidate his individual retirement accounts into a
401 k and borrow from the 401k.
However, the individual 401 k is more than just a good tool
to borrow money. It also lets you contribute more towards your
retirement. You can make tax-deductible contributions to this
plan at levels more generous than other retirement plans such
as the SEP, SIMPLE, profit sharing and money purchase plans.
Every year millions of Americans start new businesses and take
cash distributions from their retirement accounts to keep them
solvent until the business gets going. In the process these
entrepreneurs forfeit a large chunk of their retirement money
to taxes and penalties. From now including a 401 k search will
probably become routine whenever small business owners look
to set up a retirement plan. With all of its features, the
individual 401(k) is bound to be a serious contender when it
comes to choosing a small business retirement plan.
About the Author
Daniel Lamaute, CEO of Lamaute Capital specializes in
helping people get the most benefit from their retirement
investments. Take cash payments from your retirement funds
the smart way. Get your FREE SOLO-OWNER 401K INFORMATION
KIT. Kit includes a prospectus with detailed information
about the plan, investments, sales charges and expenses.
Visit http://www.investsafe.com to order kit.
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