The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: IRA to Fund New Business||Date: 3/7/2013 7:25 PM|
|Author: TMFBreakerRob||Number: 117983 of 122667|
I'm retired, 60..... and I'm in the process of starting up a business that is franchised. I expect to be building a number of stores and plan to tap my IRAs to fund it, most likely in combination with bank financing for part of the hard assets (leasehold improvements, store fixtures, signs).
Questions: Is it feasible to have the IRA fund the business in such a fashion that I don't have to withdraw the money, pay taxes and invest the proceeds? It seems that it would be nice to defer the whole tax thing. :)
If feasible, is this desirable? Would I be introducing some long term complication?
I'm just considering my options. If necessary, I'll withdraw the money, pay taxes and start to rock 'n roll anyway.
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