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Can I use my 401k money to buy a business without paying taxes? Any info will be appreciated Thanks

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Answers (5)
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You might want to seek out the your accountant and attorney. There are ways to leverage the money without ever touching it and you can use the money tax free if you set it up from the beginning. Everybody's situation can be different that is why it is a good idea to use your professionals. It is cheaper in the long run.

Nov 21, 2011
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dont touch your 401k to invest in a business...you will be sorry

Nov 18, 2011
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I AM 57 YEARS AND SIMI RETIRE . DRAWING A RETIREMENT FROM A UNION , ALSO OWN MY OWN COMPANY . WANT TO BUY A FARM AND TRY MY HAND AT IT . CAN I USE MY 401 K MONEY TO BUY IT WITH OUT TAXES ,OR PENITYS .

Oct 28, 2011
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Burke Business Advisors
Franchise Consultant and Business Advisor
Collin County, TX

yes, there are several companies that do this. I have helped others buy their business using this type of financing.
Please contact me if you wish to learn more.

Jun 3, 2011
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Yes you can do it. I have worked with two people on financing their businesses this way. There are some people who question the legality of this. There are thousands of people who have done this with no problems. The people that do this are not lawyers and there is not a 100% assurance that the IRS will not take issue with this in the future. You can find info on the internet about companies that offer this service. I think it needs to be about 50 to 100k to make it practical. I will not provide any names or recomend this one way or the other, but I have seen it work very nicely twice.

May 26, 2011

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