{"id":87047,"date":"2025-02-14T04:47:50","date_gmt":"2025-02-14T04:47:50","guid":{"rendered":"https:\/\/peraltafinancing.com\/accounting\/using-401k-funds-to-start-a-business\/"},"modified":"2025-02-14T04:47:50","modified_gmt":"2025-02-14T04:47:50","slug":"using-401k-funds-to-start-a-business","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=87047","title":{"rendered":"Using 401(k) Funds to Start a Business"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-elementor-type=\"wp-post\" data-elementor-id=\"3367\" class=\"elementor elementor-3367\" data-elementor-post-type=\"post\">\n<section class=\"elementor-section elementor-top-section elementor-element elementor-element-a48f768 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a48f768\" data-element_type=\"section\">\n<div class=\"elementor-container elementor-column-gap-default\">\n<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-15aaecf\" data-id=\"15aaecf\" data-element_type=\"column\">\n<div class=\"elementor-widget-wrap elementor-element-populated\">\n<div class=\"elementor-element elementor-element-59d35a8 elementor-widget elementor-widget-video\" data-id=\"59d35a8\" data-element_type=\"widget\" data-settings=\"{&quot;youtube_url&quot;:&quot;https:\\\/\\\/youtu.be\\\/v3MjyFzVf2A?si=kbSk48tbRV73v0L6&quot;,&quot;video_type&quot;:&quot;youtube&quot;,&quot;controls&quot;:&quot;yes&quot;}\" data-widget_type=\"video.default\">\n<div class=\"elementor-widget-container\">\n<div class=\"elementor-wrapper elementor-open-inline\">\n<div class=\"elementor-video\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"elementor-element elementor-element-7f5def6 elementor-widget__width-initial elementor-widget elementor-widget-text-editor\" data-id=\"7f5def6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n<div class=\"elementor-widget-container\">\n<p>There\u2019s a huge demographic shift happening in the United States, as <a href=\"https:\/\/www.pewresearch.org\/short-reads\/2020\/11\/09\/the-pace-of-boomer-retirements-has-accelerated-in-the-past-year\/\">millions of Baby Boomers are retiring<\/a> and looking to sell the cash flow-positive businesses they\u2019ve built during their working years. If you\u2019ve ever considered starting or buying a small- or medium-sized business (SMB), <a href=\"https:\/\/www.sjgorowitz.com\/why-now-might-be-the-best-time-to-buy-a-business\/\">now may be an opportunistic time<\/a> to explore acquiring an established business from a Baby Boomer.<\/p>\n<p>Finding the capital necessary to fund a business venture is always a primary concern. Did you know that you may be able to <a href=\"https:\/\/www.sjgorowitz.com\/unlocking-retirement-savings-to-fund-a-new-business\/\">unlock your retirement savings to fund a new business<\/a>?<\/p>\n<p><strong><span class=\"TextRun SCXW59473076 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW59473076 BCX0\" data-ccp-parastyle=\"heading 2\">What are ROBS?<\/span><\/span><span class=\"EOP SCXW59473076 BCX0\" data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/strong><\/p>\n<p><span data-contrast=\"auto\">ROBS stands for <\/span><a href=\"https:\/\/www.irs.gov\/pub\/irs-tege\/robs_guidelines.pdf\"><span data-contrast=\"none\">Rollovers as Business Start-ups<\/span><\/a><span data-contrast=\"auto\">. ROBS are rollovers that utilize your existing 401(k) retirement funds to finance a new or existing business without incurring early withdrawal penalties or <\/span><a href=\"https:\/\/www.sjgorowitz.com\/is-an-annual-checkup-with-your-cpa-at-the-end-of-the-year-all-your-business-needs-to-stay-in-good-financial-health\/\"><span data-contrast=\"none\">income taxes<\/span><\/a><span data-contrast=\"auto\">.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">If you\u2019ve been contributing to a 401(k) for many years, you\u2019ve likely built up capital that\u2019s now sitting in your account. You may be interested in taking advantage of this SMB trend but don&#8217;t have the liquid capital outright to <\/span><a href=\"https:\/\/www.sjgorowitz.com\/ma-advisory\/\"><span data-contrast=\"none\">buy a business<\/span><\/a><span data-contrast=\"auto\">, and you may not want to take on debt. The ROBS mechanism is a way to utilize your 401(k) savings to access the capital you need without incurring early withdrawal penalties.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><strong>Advantages of ROBS\u00a0<\/strong><\/p>\n<p><span data-contrast=\"auto\">Advantages of the ROBS financing method include:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Debt-free financing<\/span><\/b><span data-contrast=\"auto\">. With ROBS, you&#8217;re not borrowing money to put as a payment, a down payment or principal payment on a business. ROBS funds are equity you already have that ordinarily can\u2019t be accessed because of the distribution rules of retirement plans.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Preserved cash flow<\/span><\/b><span data-contrast=\"auto\">. Using saved capital eliminates concerns about high interest rates that can hinder business growth.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"2\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Improved business success rates<\/span><\/b><span data-contrast=\"auto\">. ROBS may contribute to a business\u2019s success compared with traditional methods of financing. Owners using ROBS are fully vested and perhaps more incentivized to make the business work. In addition, there\u2019s no impact on personal credit.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><strong>Steps to Using ROBS to Fund a Business\u00a0<\/strong><\/p>\n<p><span data-contrast=\"auto\">Here\u2019s how ROBS work and how to start the process.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<ol>\n<li data-leveltext=\"%1.\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The first step is <\/span><a href=\"https:\/\/www.sjgorowitz.com\/selecting-right-entity-type-new-business\/\"><span data-contrast=\"none\">establishing a C-corporation (C-Corp)<\/span><\/a><span data-contrast=\"auto\"> structure for your business venture. The business must be a C-Corp, not a flow-through S-Corp or partnership.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"%1.\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The second step is <\/span><a href=\"https:\/\/www.sjgorowitz.com\/retirement-plan-selection-design-keeps-money-in-pocket\/\"><span data-contrast=\"none\">establishing a retirement plan<\/span><\/a><span data-contrast=\"auto\"> like a 401(k) or profit sharing plan for the acquired C-Corp business.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"%1.\" data-font=\"\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">The third step is rolling over funds from your personal 401(k) into the new corporate 401(k). The new retirement plan purchases stock in the corporation, which provides it with the capital needed.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ol>\n<p><span data-ccp-props=\"{}\">\u00a0<\/span><span data-contrast=\"auto\">You can continue to make ongoing retirement contributions to the tax-advantaged retirement account as the business grows.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><strong>Points to Know about ROBS\u00a0<\/strong><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Whenever money goes back to the 401(k), there\u2019s a sale of the business, or the business declares dividends, that money will pass back directly to the shareholder&#8217;s 401(k) plan.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">There\u2019s the potential for a total loss. If the business fails, your stock in your C-Corp could go to zero, providing a loss to your 401(k).<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">There\u2019s a <\/span><a href=\"https:\/\/www.sjgorowitz.com\/irs-plans-to-scrutinize-wealthy-taxpayers-in-major-compliance-push\/\"><span data-contrast=\"none\">risk of regulatory scrutiny<\/span><\/a><span data-contrast=\"auto\">, including possible IRS or Department of Labor audits.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"3\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:360,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">It\u2019s not advisable to use your entire personal 401(k) savings to fund the business. Excessive withdrawals could attract the attention of the IRS, regardless of whether it&#8217;s permissible in the rules of the tax code.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">An experienced Certified Public Accountant (CPA) like S.J. Gorowitz Tax and Accounting Services that understands <\/span><a href=\"https:\/\/www.sjgorowitz.com\/business-advisory\/\"><span data-contrast=\"none\">cash flow and business financing options<\/span><\/a><span data-contrast=\"auto\"> can help you set up your C-Corp and determine how to make the ROBS strategy work for you. Having a professional help you navigate ROBS\u2019 complexities ensures compliance and <\/span><a href=\"https:\/\/www.sjgorowitz.com\/tax\/\"><span data-contrast=\"none\">reduces the chances of problems with the IRS<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For more specific, personalized advice tailored to your situation, please contact us for a consultation.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/section><\/div>\n<p>The post <a href=\"https:\/\/www.sjgorowitz.com\/using-401k-funds-to-start-a-business\/\">Using 401(k) Funds to Start a Business<\/a> appeared first on <a href=\"https:\/\/www.sjgorowitz.com\">S.J. Gorowitz Accounting &amp; Tax Services<\/a>.<\/p>\n\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s a huge demographic shift happening in the United States, as millions of Baby Boomers are retiring and looking to sell the cash flow-positive businesses they\u2019ve built during their working years. If you\u2019ve ever considered starting or buying a small- or medium-sized business (SMB), now may be an opportunistic time to explore acquiring an established [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11759],"tags":[11093,907,11257,5454],"dealstore":[],"offerexpiration":[],"class_list":["post-87047","post","type-post","status-publish","format-standard","hentry","category-accounting","tag-401k","tag-business","tag-funds","tag-start"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Using 401(k) Funds to Start a Business - Som2ny Network<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fivemor.com\/?p=87047\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Using 401(k) Funds to Start a Business - Som2ny Network\" \/>\n<meta property=\"og:description\" content=\"There\u2019s a huge demographic shift happening in the United States, as millions of Baby Boomers are retiring and looking to sell the cash flow-positive businesses they\u2019ve built during their working years. 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Som2ny Network","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fivemor.com\/?p=87047","og_locale":"en_US","og_type":"article","og_title":"Using 401(k) Funds to Start a Business - Som2ny Network","og_description":"There\u2019s a huge demographic shift happening in the United States, as millions of Baby Boomers are retiring and looking to sell the cash flow-positive businesses they\u2019ve built during their working years. 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