How to use IRA money to buy a business

Brian Fricke, CFP®Financial Planning

In this edition:

One of our clients wanted to make a loan to a family member so they could buy a business.

The problem is – all of their money is tied up inside an IRA. They could have withdrawn the money from the IRA. But then they’d have to pay income taxes on the money withdrawn.

Here’s how to use IRA money…without triggering a big tax bill.