2020 Camp Bow Wow Franchise Cost | Camp Bow Wow Franchise Fee | Use Your 401k to Start a Camp Bow Wow Franchise Business | SBA Business Loan

 

2020 Camp Bow Wow Franchise Cost

How much does it cost to open a Camp Bow Wow Franchise? [Updated 2020]

Are you considering opening a Camp Bow Wow Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a Camp Bow Wow Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a Camp Bow Wow Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “Camp Bow Wow Franchise” franchise ranges from $751,000 – $1,458,500.
  • Initial Fees:
    • Initial franchise fee: $50,000
  • Royalty Fees: 7%

How can My Solo 401k Financial help me fund a Camp Bow Wow Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a Camp Bow Wow Franchise

Use Your 401k to Start a Camp Bow Wow Franchise

If you an aspiring entrepreneur looking for financing to open a Camp Bow Wow Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

Items to Consider if You Plan to Process a Roth Solo 401k Conversion in 2020

Are you considering converting your traditional (pretax) solo 401k to a Roth solo 401k (designated Roth account) in 2020? If you are considering this important decision, here are key items to know.

The 2020 December 31 Deadline

The deadline for a 2020 in-plan conversion is December 31, 2020. This means that the funds and/or assets must be deposited from the solo 401k pretax bank/brokerage account to the Roth solo 401k bank/brokerage account by 12/31/2020 It is important to understand that you do not have until  your business tax return filing due date plus timely filed business tax return extension to process an in-plan conversion for a prior year, as you do for making  solo 401k annual contributions.  Don’t forget that your solo 401k provider may need more time than you think to complete the conversion including assisting in opening the Roth solo 401k bank or brokerage account if that has not yet been done. Waiting until the last minute can be a nail biter.

Consider Taxes

In-plan Roth solo 401k conversion of pretax funds are subject to taxes, and the gains on amounts converted from the voluntary after-tax solo 401k account are also subject to federal taxes while the basis is not. Your roth 401k conversion income will increase your ordinary income for 2019 – potentially causing the loss of exemptions, credits tax deductions, taxation of Social Security, and increased premiums for Medicare Part B and Part D premiums – but this only happens for the year of the conversion. The trade-off is that all future qualified distributions from your Roth solo 401k will be distributed completely tax-free.

Reasons to Process a Conversion

Should you convert solo 401k funds to the Roth solo 401k bucket? Some factors in favor of converting include not needing your money soon, or even at all and expecting your future tax rates to be higher. Being younger can favor conversion as younger people generally are in a lower bracket, have not yet accumulated large sums in their solo 401k, and have long retirement savings timelines to work with.

Reasons not to Processing a Conversion

Conversion may make sense for some but is not for everyone. Why may you not want to process an in-plan solo 401k conversion? Conversion may not be for you if:

are older and will need the money soon;

you think you will be in a lower tax bracket at retirement; and

not having available, non-retirement assets to pay the tax due on the in-plan solo 401k conversion.

No Do Over

Just like Roth IRA conversions, you cannot change your mind once the in-plan solo 401k conversion has been processed. To learn more about the in-plan Roth solo 401k conversion rules, VISIT HERE.

2020 Orangetheory Franchise Cost | Orangetheory Franchise Fee | Use Your 401k to Start a Orangetheory Franchise Business | SBA Business Loan

2020 Orangetheory Franchise Cost

How much does it cost to open a Orangetheory Franchise? [Updated 2020]

Are you considering opening a Orangetheory Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a Orangetheory Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a Orangetheory Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “Orangetheory Franchise” franchise ranges from $563,529 – $994,121.
  • Initial Fees:
    • Initial franchise fee: $59,950
  • Royalty Fees: 8%

How can My Solo 401k Financial help me fund a Orangetheory Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a Orangetheory Franchise

Use Your 401k to Start a Orangetheory Franchise

If you an aspiring entrepreneur looking for financing to open a Orangetheory Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

2020 Pure Barre Franchise Cost | Pure Barre Franchise Fee | Use Your 401k to Start a Pure Barre Franchise Business | SBA Business Loan

2020 Pure Barre Franchise Cost

How much does it cost to open a Pure Barre Franchise? [Updated 2020]

Are you considering opening a Pure Barre Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a Pure Barre Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a Pure Barre Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “Pure Barre Franchise” franchise ranges from $198,650 – $446,250.
  • Initial Fees:
    • Initial franchise fee: $60,000
  • Royalty Fees: 7%

How can My Solo 401k Financial help me fund a Pure Barre Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a Pure Barre Franchise

Use Your 401k to Start a Pure Barre Franchise

If you an aspiring entrepreneur looking for financing to open a Pure Barre Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

2020 Anytime Fitness Franchise Cost | Anytime Fitness Franchise Fee | Use Your 401k to Start a Anytime Fitness Franchise Business | SBA Business Loan

2020 Anytime Fitness Franchise Cost

How much does it cost to open a Anytime Fitness Franchise? [Updated 2020]

Are you considering opening a Anytime Fitness Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a Anytime Fitness Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a Anytime Fitness Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “Anytime Fitness Franchise” franchise ranges from $76,720 – $521,437.
  • Initial Fees:
    • Initial franchise fee: $21,000 – $42,500
  • Royalty Fees: $699 monthly fee per center (1-3 centers)

How can My Solo 401k Financial help me fund a Anytime Fitness Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a Anytime Fitness Franchise

Use Your 401k to Start a Anytime Fitness Franchise

If you an aspiring entrepreneur looking for financing to open a Anytime Fitness Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

2020 F45 Franchise Cost | F45 Franchise Fee | Use Your 401k to Start a F45 Franchise Business | SBA Business Loan

2020 F45 Franchise Cost

How much does it cost to open a F45 Franchise? [Updated 2020]

Are you considering opening a F45 Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a F45 Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a F45 Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “F45 Franchise” franchise ranges from $227,000 – $312,000.
  • Initial Fees:
    • Initial franchise fee: $50,000
  • Royalty Fees: The greater of 7% of Gross Sales or $2,500 per month

How can My Solo 401k Financial help me fund a F45 Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a F45 Franchise

Use Your 401k to Start a F45 Franchise

If you an aspiring entrepreneur looking for financing to open a F45 Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

2020 CycleBar Franchise Cost | CycleBar Franchise Fee | Use Your 401k to Start a CycleBar Franchise Business | SBA Business Loan

2020 CycleBar Franchise Cost

How much does it cost to open a CycleBar Franchise? [Updated 2020]

Are you considering opening a CycleBar Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a CycleBar Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a CycleBar Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “CycleBar Franchise” franchise ranges from $319,150 – $497,200.
  • Initial Fees:
    • Initial franchise fee: $60,000
  • Royalty Fees: 7%

How can My Solo 401k Financial help me fund a CycleBar Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a CycleBar Franchise

Use Your 401k to Start a CycleBar Franchise

If you an aspiring entrepreneur looking for financing to open a CycleBar Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

2020 Cinnaholic Franchise Cost | Cinnaholic Franchise Fee | Use Your 401k to Start a Cinnaholic Franchise Business | SBA Business Loan

2020 Cinnaholic Franchise Cost

How much does it cost to open a Cinnaholic Franchise? [Updated 2020]

Are you considering opening a Cinnaholic Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a Cinnaholic Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a Cinnaholic Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “Cinnaholic Franchise” franchise ranges from $178,000 – $308,500.
  • Initial Fees:
    • Initial franchise fee: $35,000
  • Royalty Fees: 5%

How can My Solo 401k Financial help me fund a Cinnaholic Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a Cinnaholic Franchise

Use Your 401k to Start a Cinnaholic Franchise

If you an aspiring entrepreneur looking for financing to open a Cinnaholic Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

2020 BirthdayPak Franchise Cost | BirthdayPak Franchise Fee | Use Your 401k to Start a BirthdayPak Franchise Business | SBA Business Loan

2020 BirthdayPak Franchise Cost

How much does it cost to open a BirthdayPak Franchise? [Updated 2020]

Are you considering opening a BirthdayPak Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a BirthdayPak Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a BirthdayPak Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “BirthdayPak Franchise” franchise ranges from $29,500 – $144,700.
  • Initial Fees:
    • Initial franchise fee: $24,000 – $49,000

How can My Solo 401k Financial help me fund a BirthdayPak Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a BirthdayPak Franchise

Use Your 401k to Start a BirthdayPak Franchise

If you an aspiring entrepreneur looking for financing to open a BirthdayPak Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

2020 Code Ninjas Franchise Cost | Code Ninjas Franchise Fee | Use Your 401k to Start a Code Ninjas Franchise Business | SBA Business Loan

2020 Code Ninjas Franchise Cost

How much does it cost to open a Code Ninjas Franchise? [Updated 2020]

Are you considering opening a Code Ninjas Franchise?  If so, it will be essential to understand the costs & fees and how you will pay for those expenses.  This article highlights some key expenses to start a Code Ninjas Franchise.  It also describes how you can fund those expenses using an SBA Business Loan and/or your retirement funds without paying tax or penalties.

The cost to start a Code Ninjas Franchise will include the following:

  • Total Investment: The total investment necessary to begin operation of a “Code Ninjas Franchise” franchise ranges from $118,640 to $387,270.
  • Initial Fees:
    • Initial franchise fee: $29,000
  • Royalty Fees: 6%

How can My Solo 401k Financial help me fund a Code Ninjas Franchise?

My Solo 401k Financial has helped thousands of entrepreneurs with franchise financing.  We specialize in helping franchisees use their retirement funds without paying taxes or penalties as well as SBA business loans.

Obtain an SBA Loan for a Code Ninjas Franchise

Use Your 401k to Start a Code Ninjas Franchise

If you an aspiring entrepreneur looking for financing to open a Code Ninjas Franchise, you may want to consider using our ROBS 401K Business Financing plan which allows you to invest your retirement funds in your business without paying taxes or penalties.

Benefits of Using Your 401k to Start a Business

  • You can invest all of your retirement funds in the business without paying taxes or penalties. If you were to withdraw the funds from your retirement account, you will have to pay a 10% penalty (if you are under 59 ½) and income tax which often leaves only 60% or less of the amount withdrawn available to fund your business.
  • The funds invested in your business do not have to be paid back to your retirement account (i.e., it is not a loan).   With no repayment obligation, the business is able to keep more of the income in the business which can be very important to a growing startup business. Moreover, by investing your own funds you are able to independently fund your business and retain ownership and control.
  • There is no credit check required to access your retirement funds.
  • The funds are typically available for business financing in approximately 15 business days.
  • Other than Roth IRA accounts, funds in virtually all types of retirement accounts are eligible including 401k, Traditional IRA, pension plans, government plans, etc.

Using Your 401k to Start a Business – Process

Step 1: File Articles of Incorporation with the Secretary of State.

Step 2: Obtain Corporation and 401k employer identification numbers (EIN).

Step 3: Open business bank account for the C-corporation.

Step 4: The C-corporation adopts new 401k plan.

Step 5: Transfer funds from your existing 401k, IRA or other retirement account to the new 401k.

Step 6: Fund the Corporation with the new 401k proceeds.

Using Your 401k to Start a Business – Resources

  • About MySolo401k

    We help our clients take control of their retirement money. Our products and services provide our clients the freedom to invest their retirement savings in their own business as well as alternative investments such as real estate, private companies, promissory notes, precious metals, tax liens and equities.
    Learn more

    Connect with us

  • We’re here to help.

    Call: 800-489-7571

    Monday-Saturday

    7:00 am - 5:00 pm PT

    Why us?
MENU