Re-Election of President Obama Has Investors Turning to Solo 401(k) Plans to Shield Income From Taxes
With Election Day finally here and the race for the White House as tight as it has ever been, many Americans are already planning to shelter their incomes from likely tax hike. “We have seen an increase those investors looking to establish Solo 401(k) plans in order to take advantage of the attractive tax-deferral as a way to grow their retirement accounts, “stated Dmitriy Fomichenko, President of Sense Financial Services.
Yorba Linda, CA (PRWEB) November 10, 2012
The re-election of President Obama would almost certainly mean an increase in the capital gain tax rate from 15% to 20% for high-income earners. But many investors have already begun taking steps to maximize their retirement investment gains, which are tax-deferred. “We have seen an increase those in investors looking to establish Solo 401(k) plans in order to take advantage of the attractive tax-deferral as a way to grow their retirement accounts, “stated Dmitriy Fomichenko, President of Sense Financial Services.
Sense Financial Services, California’s leading provider of retirement accounts with checkbook control based in Yorba Linda, recently released a report which found that many retirement investors are worried about the possibility of increased tax rates on capital gains and are turning their attention to solo 401k plans as a way to grow their tax-deferred retirement accounts.
“Americans are more concerned than ever with the potential for increased tax rates on capital gain investments and are actively seeking more tax-advantaged investment structures, such as the self-directed IRA and Solo 401(k) Plan,” Mr. Fomichenko added.
The Solo 401(k) Plan is very similar to that of a self-directed IRA. Both have the ability to make almost any type of investments, including real estate, but without the need to establish an LLC or pay custodian fees. The Solo 401(k) Plan is considered the most tax-advantageous retirement plan available because of the high annual contribution limit it allows. The Solo 401K Plan also lets the investor borrow money from their retirement funds (up to $50,000) and use the funds for any purpose, including helping to finance their own business or pay personal bills.
Sense Financial is the California’s leading provider of retirement accounts with “Checkbook Control”: Solo 401(k) and Checkbook IRA. Over the years they assisted hundreds of clients obtain checkbook control over their retirement accounts while providing them the ability to invest in virtually any investment class, including real estate, private lending, mortgage notes and much more without the need for custodian approval!
To learn more information about self directed retirement accounts with checkbook control, please visit http://www.sensefinancial.com
For the original version on PRWeb visit: http://www.prweb.com/releases/prwebsense-financial/solo-401k-plans/prweb10118435.htm