Is Guidant Financial legitimate?

Is Guidant Financial legitimate?

Guidant Financial currently has an A+ rating with the BBB and some positive reviews regarding its products and particularly its ROBS plan. However, Guidant also has a fair amount of complaints, particularly about its customer service.

What is Benetrends Inc?

Benetrends Inc. provides professional services for retirement and other employee benefit plans. The Company offers conventional business loans, rainmaker plan, retirement plan administration and services, resources, and benetrends insurance solutions. Benetrends operates in the State of Pennsylvania.

How much does it cost to set up a robs?

Based on our review of a dozen providers, the cost of a ROBS transaction can range from $4,000 to $5,000. That’s for the setup. There are also monthly fees to cover ongoing support and maintenance, including IRS reporting, eligibility tracking, and plan reconciliation. Those fees can range from $75 to $140 per month.

How do robs work?

With a ROBS, you roll over money from a 401(k) or traditional individual retirement account (IRA) into a new business or franchise without incurring early withdrawal penalties or taxes. If you’re under the age of 59 and a half, any 401(k) withdrawals normally incur a 10% penalty, but that doesn’t happen with a ROBS.

What is Benetrends?

Benetrends helps you choose and manage the best option to meet your needs – from 401(k) plans and Roth 401(k) plans to profit-sharing plans and defined benefits plans.

What is a robs transaction?

A ROBS is an arrangement in which prospective business owners use their retirement funds to pay for new business start-up costs. The ROBS plan then uses the rollover assets to purchase the stock of the new C Corporation business.

How do I get out of a robs transaction?

Main methods for exiting the ROBS strategy

1. Full or Partial Redemption (e.g. buyback) of Stock.
2. Early Redemption (e.g. buyback) of Stock.
3. Distribution of Stock In Kind.
4. Required Minimum Distributions (RMDs)
5. Net Unrealized Appreciation (NUA) Strategy.

Can I use my 401k to buy a business without penalty?

401(k) business financing (also known as Rollovers for Business Start-ups or ROBS) allows you to tap into your retirement account and use that money to start or buy a business or franchise. To access your money without triggering an early withdrawal fee or tax penalty, a ROBS structure must first be put in place.

What is Rainmaker program?

The Rainmaker Academy® is a transformational leadership and business development program specifically for accounting professionals who want to grow their business. Over the course of one year including in-person workshops and personal coaching, participants develop skills to permanently increase revenue.

What does robs stand for?

Rollovers for Business Start-ups
Since 1974, 401(k) business financing, also known as Rollovers for Business Start-ups (ROBS), has let small business or franchise owners tap their retirement funds to start or buy a business.

How does the benetrends Rainmaker plan help entrepreneurs?

Benetrends originated 401 (k)/IRA rollover funding helping over 17,000 entrepreneurs in the last 35+ years, with our revolutionary Rainmaker Plan. The Rainmaker allows an entrepreneur to use their qualified retirement plan to purchase, or recapitalize a business or franchise, tax-deferred and penalty-free.

What do you need to know about benetrends financial?

Benetrends Financial sets up the retirement plan and offers several ongoing services, including: Filing your annual Form 5500. Form 5500 is the annual form required by the IRS and Department of Labor where you would report basic information about your retirement plan and its participants.

Are there any risks with benetrends robs funding?

ROBS funding is a novel way to access tied-up retirement funds for business financing, but it isn’t without risks. As we mentioned earlier, you’ll need to keep up with IRS and DOL rules. Benetrends Financial offers Audits Shield protection, and says that in its more than 35 years in business, it has never had a plan disqualified.

What can I invest my Rainmaker money in?

Using the Rainmaker process, you can roll the entire $250,000 into your new company’s retirement plan. You would then direct $150,000 of the rollover to be invested in company stock. The remaining $100,000 in the plan can be invested in other stocks, bonds, or mutual funds, depending on the investment options adopted by your plan.