I have a call with a CPA next week but In the mean time just curious if anyone knows if there are any ways to take money from your 401k to start an Llc without doing the robs rollover since I want to be an LLC. Are there ways to write enough things off that you can avoid a lot of tax implications?
You will have to pay a 10% penalty and taxes on any funds you withdraw from your 401K.
Once you establish your business, there are a fare share of tax deductions you can apply to lower your business taxes. But that’s a completely different topic than your initial question.
Save the $ on the accountant. 😜