How to Buy a Small Business with ROBS 401k. PENALTY FREE & TAX FREE

[@JRConck1]

I did a C corp ROBS back in sept 2018. Took a while to get up and running as we were converting a historic house into a restaurant. Now looking at ways to start taking out money in the most tx efficient manner.

[@lonniewoodruff7010]

Recently brokered a deal using a ROBS... absolutely great resource!!

[@lazhernandez834]

I used my 401K funds to buy a business 7 yers ago. I created a C corp. I now want to switch to a S corp. What is the best way to do this?

[@mldn007]

I was thinking the same thing. I went to the aspire tour and it had me thinking more about the robs structure with a c-corp and how its tax advantagous for the small business owner. But it needs a solo 401k , company solo 401k, and a c-corp, in my understanding.

[@brianharron1520]

Have done a couple of these deals

[@JimParkerBusinessBroker]

Thanks Brain... I hope they worked out for you and the Buyer

[@dawnyoung9896]

This is THE BEST INFO ON ROBS on the net! THANKYOU! We are starting one now. Cost $4k with discount. Pretty scary and this is not the first business we've owned. Question---how do we pass the business on to the kids? And also, I didn't understand what you were saying about dividends being double taxed. If the tax is returned when it is put into the LLC, and then taxed upon distribution, when is the 2nd tax?

[@JimParkerBusinessBroker]

Dawn, thank you so much for the every kind words, much appreciated. Good luck with your ROBS! I know you said it is not your first business, but it must still be very exciting for you guys. I think what we were referring to is that on a C Corporation, the corporation must pay tax on the net profit and then when the stock holders receive distributions, then they have to pay tax again. This is not true for a S-Corporation.

[@cadencrippin8440]

Awesome video, great information

[@mikejunk4285]

Would this be a good option for a company truck driver that wants to become an owner operator?

[@iownslaves]

It costs more for yearly maintenance than to take out with penalty and taxes

[@JimParkerBusinessBroker]

That depends on the amount being used

[@NoteConference]

Just subscribed Jim

[@sanemonk1]

What % is the distribution taxed when the 401k owner is old over 60 and ready to retire? 1st taxation rate for c corp is 21% but What % will the second/double taxation rate be at?

[@tifipaul5686]

It’s whatever your personal tax rate set by the current IRS rules

[@revitplumber]

What if I don’t have a retirement account and don’t need funds for the business, but I like the idea of paying my 401k dividends?

[@thomasdube4245]

Are bonuses double taxed, or is a bonus to a shareholder counted as an expense?

[@Sam-st5wj]

8:16 what??

[@andyv8889]

Can you use your 401k ROBS to buy a business that you or a family member own? How about a non profit business?

[@realjohar653]

Seems like your being nickel and dimed using a system like this

[@comeseetheviolenceinherent579]

I want to turn my 401k money into gold and silver that I have physical control of. Is that possible?