Press Release Services and Business News from Send2Press, a unit of Neotrope, established 1983
Press Release Writing and Distribution
  Saturday, December 10, 2016 Neotrope®
Public Relations
Press Release Services and Media Relations
Send2Press® - Press Release Writing, Newswire Distribution, Press Release Optimization, Internet Marketing, Podcasting, SEO, Media Monitoring, Media Coaching, News Syndication, Book Marketing, Entertainment News, Web PR, and Media Relations since 1983   media relations
press release writing
Press Release Services and Business News from Send2Press, a unit of Neotrope, established 1983
 
NEWS WIRES:
» Ad Industry News
» Aerospace News
» Arts News
» Automobile News
» Biotech News
» Book News
» Business News
» Computer Industry News
» Construction News
» DotCom News
» eCommerce News
» Education News
» eMarketing News
» Entertainment News
» Employment News
» Energy News
» Family/Parenting News
» Fashion Industry News
» Fitness Industry News
» Food & Cooking News
» Graphics News
» Insurance News
» Interior Design News
» Internet News
» Investor News
» Manufacturing News
» Medical News
» Music News
» NonProfit News
» Peace/Ecology News
» Podcasting News
» Political News
» Real Estate News
» Religion News
» Retail News
» Security Solutions News
» Small Cap & OTC News
» Software Industry News
» Sports News
» Telecom News
» Travel Industry News
» TV & Cable News
» VoIP News
» US Newswires
» Business Profiles
» More News Channels
» Today's Headlines

Distribute your News with Send2Press® Press Release Services

 

In The News
Business News from Send2Press Newswire
Recent News Stories from PRnetwire >> News Article

Edited by Christopher Simmons, senior news editor


UNCOVER HIDDEN POOL OF CASH FOR YOUR SMALL BUSINESS

Alexandria, VA -- (SEND2PRESS NEWSWIRE via PRNetwire) -- September 13, 2002 -- Small business owners can tap a source of cash that until recently was inaccessible to them without stiff tax consequences. Under new tax laws effective this year, business owners who set up a solo-owner 401(k) can borrow up to $50K from their retirement savings tax-free and penalty free.

A solo-owner 401(k) is a qualified retirement plan. Small business owners can put new contributions or transfer existing IRAs, or other qualified retirement accounts into the plan. They can borrow up to 50 percent or $50,000 from their solo-owner 401(k) plan account balance. The loan remains tax free and penalty as long as it is paid back on time, according to information on www.investsafe.com the website of Lamaute Capital, a retirement investment advisory firm in Alexandria, VA.

Any business owner with no employees other than a spouse or co-owners can establish a solo-owner 401(k) plan. This includes independent contractors with 1099 income, freelancers, sole proprietors, partnerships, Limited Liability Companies (LLCs), or corporations.

While it is common for employees of large companies to have the option to borrow from their 401(k), until this year small business owners were not allowed the same privilege. Instead, owners needing to tap their retirement funds for whatever reasons had to take cash distributions from their IRAs or other retirement accounts. This required them to pay federal and state taxes on the distributions, plus generally a 10% penalty if they were under age 59. They also lost the chance to put the money back into their retirement accounts.

"A business owner in need of cash can in essence borrow from himself by taking a loan from his solo-owner 401(k). A loan is not taxed because the payments and interest go into the retirement account", says Daniel Lamaute, CEO of Lamaute Capital. "Although, there are no restrictions on the use of the borrowed money, one should be very careful when using one's retirement 'nest egg'," says Lamaute.

Lamaute Capital, Inc. is an investment firm specializing in retirement plans. To learn more about the new Solo-Owner 401 (k) plan visit: http://www.investsafe.com/financing.html

# # #

URL: www.investsafe.com



Read original news release in raw text format

View More Recent News Stories from PRnetwire


DISCLAIMER: the above news article is believed accurate but not guaranteed, and is based on news supplied by the company or organization mentioned and/or quoted in the story. Neotrope/Send2Press makes no claims of accuracy or suitability for any purpose. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. Reproduction of this news article in any form requires written authorization — use of the raw text version of the news has no restrictions other than you may not post our news on a website which offers either PR or newswire services, or Internet Promotion services..   TERMS OF USE



Add Our News Headlines to Your Website Free
Free headline feed


Journalists & Editors
Choose your news by preferred topic(s).
Privacy protected.
MORE INFO

Archived Releases

Most Recent Releases


Subscribe to RSS Feed



NOTICE: THIS PAGE IS ARCHIVAL CONTENT AND SHOULD NOT BE RELIED UPON FOR ACCURACY.
Top of Page | Home Page | E-mail This News Story
— PLEASE SUPPORT OUR WEBSITE SPONSORS —
Press Release Services from Send2Press
Press Release Services from Send2Press | Press Release Writing from Send2Press
Mindset Interactive, Mindset Design, Mindset Communications, Mindset Advertising, Mindset Netwire
 Copr. © 1983-2014 Neotrope® — all rights reserved. Privacy/Legal Statements 
Press Release Services and Business News from Send2Press, a unit of Neotrope, established 1983
Press Release Writing
Business Press Release Services | Compare News Distribution Plans | Agency Program | How to Order
PR Services Add-on Options | Price List | SEO+PR™ Services | Press Release Writing | Publication Lists
Client Testimonials | About Us | Contact Us | Newswire Channels |
News About Send2Press | | RSS/XML Feed

Free News Articles