Taxpayers Guide to LLCs and S Corps
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Self-Directed 401k Plans
By Jason Watson, CPA
Posted Wednesday, October 13, 2021
There are 401k plans that allow you to invest into non-traditional investments such as real estate or buying a business. A common phrase you hear in a ROBS 401k which stands for Rollover for Business Start Ups. It is beyond the scope of this chapter, and frankly it can be a very bad idea although it sounds hip at your next cocktail party. Rob is certainly the operative word since we see a lot of these ideas rob people of their retirement money.
A self-directed IRA is easier to setup and maintain, while a self-directed 401k plan is much more challenging. While these two self-directed vehicles, they share similar problems and gotchas. Here is a recent post on the pitfalls of self-directed IRAs and 401k plans-
If you want more information, we have worked with Equity Trust and New Direction IRA who can create and help maintain these accounts and plans.
Taxpayer's Comprehensive Guide to LLCs and S Corps 2021-2022 Edition
This KB article is an excerpt from our 430-page book (some picture pages, but no scatch and sniff) which is available in paperback from Amazon, as an eBook for Kindle and as a PDF from ClickBank. We used to publish with iTunes and Nook, but keeping up with two different formats was brutal. You can cruise through these KB articles online, click on the fancy buttons below or visit our webpage which provides more information at-