Increased Demand For Solo 401(k) Plans Leads to Strong First ...

Miami, FL (PRWEB) April 20, 2012

IRA Financial Group, the leading provider of self-directed solo 401K Plans, announced strong first quarter results for 2012 largely due to high demand for the solo 401K Plan. IRA Financial Group saw 2012 first quarter revenues increase by 47% from the prior year. More and more self-employed investors have been uncovering the huge benefits of the solo 401(k) Plan from a retirement and investment standpoint, stated Adam Bergman, a tax attorney with the IRA Financial Group.

A solo 401K Plan, also known as an individual 401(k) or self-directed 401(k) plan offers one the ability to use his or her retirement funds to make almost any type of investment on their own tax-free and penalty free without requiring the consent of any custodian or person.

Establishing a solo 401(k) plans offers a number of tax, retirement, and investment advantages, stated Adam Bergman, a tax attorney with the IRA Financial Group. IRA Financial Groups Solo 401K plan is unique and so popular because it is designed explicitly for the self-employed professional, stated Mr. Bergman.

There are many features of the IRA Financial Groups solo 401K plan that make it so appealing for small business owners.

-High Contributions: Like all solo 401K plans, IRA Financial Groups solo 401K plan will allow a plan participant to make annual contributions in 2012 up to $ 50,000 annually with an additional $ 5,500 catch-up contribution for those over age 50. The high contribution feature is one of the reasons a solo 401K plan is the most popular retirement vehicle for the self-employed.

Tax and Penalty free loan: IRA Financial Groups solo 401K loan allows plan participants to borrow up to $ 50,000 or 50% of their account value (whichever is less) for any purpose, including paying credit card bills, mortgage payments, or anything else. The loan has to be paid back over a five-year period at least quarterly at a minimum prime interest rate (you have the option of selecting a higher interest rate).

-Checkbook Control: With IRA Financial Groups solo 401k plan, a plan participant will be granted checkbook control over his or her retirement funds. With IRA Financial Groups solo 401K plan, the plan account can be opened at any local bank, including Chase, Wells Fargo, and even Fidelity. In addition, the plan participant can make almost any traditional as well as non-traditional investments, such as real estate, precious metals, tax liens, and much more.

-Roth Contributions & Conversion: IRA Financial Groups solo 401K plan contains a built in Roth sub-account which can be contributed to without any income restrictions. In addition, the solo 401(k) plan allows for the conversion of a traditional 401(k) or 403(b) account to a Roth subaccount.

-Easy Administration: IRA Financial Groups individual 401K plan is easy to operate. There is generally no annual filing requirement unless the solo 401(k) Plan assets exceeds $ 250,000, in which case a short information return with the IRS (Form 5500-EZ) must be completed.

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 Solo 401(k) Plan provider. 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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Posted: August 4th, 2012
at 8:04am by admin

Tagged with 401k, Demand, Financial, first, Group, Increased, Leads, Plans, Quarter, Results, Solo, Strong

Categories: Uncategorized

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