ROBS Program 401k Business Financing FAQ – Do I need to hire a CPA tax advisor for my business?

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ROBS Program Question: I am planning on using your 401k business financing to fund a franchise.  I’ve always done my own personal income taxes lately using TurboTax.  Will I need to hire a CPA to manage the business taxes?

In order to satisfy the 401k business financing rules, the business must be operated as a C-corporation including filing applicable C-corporation tax returns (e.g. 1120 at the federal level). 

As such, clients find it essential to work with a CPA or other tax advisor to handle the business tax returns.This will provide the new entrepreneur time to focus on growing the business.

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About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>


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