Frequently Asked Questions

Here are your frequently asked questions answered by the experts of Franchise Funding! If you have more inquiries, contact us at 386-562-7000 or fill out the form!

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In 1974, a law was passed that let a 401(k) plan buy shares in the company that ran the plan. Even though these kinds of retirement plans are common in large companies, small businesses have only recently started to use them. So, your CPA or lawyer might not know about it.

Franchise Funding Solutions makes the 401(k) Profit Sharing Plan and puts it in place for $4,995. Starting the month after the plan’s start date, the Administration Fee is billed at $135 per month.

On average, it takes between 4 and 5 weeks to get money for a business. Each state has its own set of time limits.

In 4-5 weeks, you can pay yourself a wage as soon as you have enough money to start your business. However, Franchise Funding highly recommends consulting with your tax advisor regarding your salary and payroll to avoid any setbacks in the future.

A retirement plan can buy shares in the company that runs the plan if the company that runs the plan is a “separate taxpaying company.” Only a C-Corporation qualifies as a “separate taxpaying entity,” which is what you exactly need to fulfill your goals!

Unlike other financial groups, Franchise Funding does not make a promise we cannot keep. We have made hundreds of retirement programs, put them into action, and run them. With our expert team, we incubate these retirement programs for the satisfaction and needs of our customers.

The IRS started a formal review process after announcing its operating rules in October 2008. As your Third Party Administrator, Franchise Funding Solutions will take care of your 401(k) Plan records (TPA). If you get an IRS Inquiry letter, Franchise Funding Solutions will help you answer all of the questions in the right way.

Since the IRS began its review process, Franchise Funding Solutions has never had a planning inquiry turn into a full plan audit. If your plan was audited, Franchise Funding Solutions would help you through it until it was done

Of course, advice from your CPA aids in making sure whether or not you want to push through with the Tenet process. Our group does not force This is when you need the help of your tax advisor. We suggest that you talk to your tax advisor to make sure that your first balance sheet is correct and that you are taking care of your ongoing administrative duties.

Unlike our competitors, Franchise Funding is not a sales company; we do not sell anything. We offer excellent customer service to make sure that your new 401(k) plan is designed, set up, and managed correctly. Most of our clients are not familiar with this process. Because of this, one of our biggest worries is to do our jobs well for our clients. 

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