Tax Lawyers Answer Your Questions About How to Access Your Retirement Account Funds Now
New laws have given business owners and entrepreneurs more flexibility, and these attorneys can help you figure out the best option for you.
In a previous webinar, Entrepreneur contributors Mat Sorensen and Mark J. Kohler broke down five strategies to access retirement account funds. Those strategies included taking a loan from your 401(k), now that you’re allowed to take as much as $100,000 from that account. You can also take an early distribution from your retirement account, which you can pay back over three years without having it considered a distribution. A riskier option called 60-day rollover allows you to take money out and (importantly) put it back in within 60 days.
Viewers had a few important questions about these urgent ways to access retirement account funds now, and in this video, Sorensen and Kohler address those questions directly in a 20-minute Q&A format. Check out the full video for more great financial advice you can use to get through these difficult times.Related: 8 Ways Business Owners Can Take Advantage of the Federal Stimulus Package