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    #1

    401K C-Corp

    I wonder if any of you have heard of such a thing? My client told me of this and the upshot is: rollover your 401 or IRA and these people set-up a C-corp to bankroll a business startup. It sounds a little fishy to me.

    Sorry about the double post, I didn't think the first took.
    Last edited by LawrenceGR; 02-03-2009, 09:35 AM.
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    #2
    I was approached by some people a few years ago that had done this. I didn't like the smell of it and moreover didn't get a good vibe from the people doing it so just took a pass on the whole engagement.
    In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
    Alexis de Tocqueville

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      #3
      More

      There was another discussion on this a few months ago
      Main Forum / Tax Discussion - TMI Message Board
      http://www.thetaxbook.com/forums/showthread.php?t=10112&highlight=401k+corp
      Primary Forum for posting questions regarding tax issues. Message Board participants can then respond to your questions. You can also respond to questions posted by others. Please use the Contact Us link above for customer support questions.


      Sandy

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        #4
        Also NATP has an article about this recently with Warning sign police tape in the picture.
        JG

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