I've received a couple of e-mails regarding a 401k withdrawal without penalty.
There is a loophole in the tax law that allows you to withdraw your 401k money tax free and penalty free if you use it to open a business. In a nutshell, this is how it works.
You incorporate, you open your own company 401k plan, you use the 401k money to fund your start-up and issue stock to your own qualified 401k plan. This allows you to use the cash to start a business.
While is sound simple, it is a fairly complicated process, you need to follow the laws very closely or you will end up paying the taxes and penalties on your withdrawal.
If you are ready to start your own business, you can call Guident Financial, they will walk you through the process, step-by-step and get you the money you need to start your own business.
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