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Lawrence Groves

With more than two decades of operational and management experience Lawrence Groves has developed a sharp eye for how businesses get clobbered with retirement plan fees and how they can retool for a sleeker, smoother, strategically focused retirement plan. As an entrepreneur who quickly built his own successful consulting business he also empathetically helps other business owners set priorities and create the retirement programs that get results

Articles by this Author

» Is My 401k Plan Loan Protected In Bankruptcy?

By Lawrence Groves | Published 06/30/2009 | Business Finance | Unrated

With hundreds of thousands of people strapped for cash, meeting even basic needs can be a financial challenge. People are turning to their 401k plan for loans to bridge the tough times. What happens when the financial brick walls are hit and bankruptcy becomes the only option? Should you go Chapter 7 or Chapter 13?

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» When Employees are Hired -The Secret Solution for Your Solo 401k Plan

By Lawrence Groves | Published 06/21/2009 | Business Finance | Rating:

Success in Business usually means growth in sales and revenues and the addition of W-2 regular employees to keep the growth going. Changes in your business will dramatically affect your Solo 401k Plan provisions, your contributions and tax deductions. The secret solution to the addition of W-2 regular employees can be found on either a short term or long term basis

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» Valuation of Solo 401k Assets

By Lawrence Groves | Published 05/24/2009 | Business Finance | Rating:

Are you required to have your Solo 401k assets valued?
This article answers the question and provides detailed information on asset valuation.

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» Safe Harbor Plans- A Retirement Triple Play

By Lawrence Groves | Published 03/31/2007 | Business Finance | Unrated

Investment representatives hooking the annual plan limits with a “Safe Harbor” plan design will end up providing their clients with three benefits---Higher tax deferred contribution levels for the company owners and highly compensated --- non discrimination testing issues are eliminated--- and any top heavy issues are satisfied as well. -- That’s a triple play.

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» Solo 401k Plans: The Mother Lode of Small Business Tax Deductions

By Lawrence Groves | Published 02/10/2007 | Business Finance | Rating:

What is a Solo 401k Plan?

Solo 401K plans are retirement plans that provide for discretionary employee and employer contributions. These Plans were created in 2001 by the Economic Growth and Tax Relief Reconciliation Act (EGTRRA). The act allowed for changes to the laws governing traditional 401K plans. The changes allowed small businesses to enjoy the advantages of 401K plans without the costs that accompany regular 401K plans. Some estimate that 19 million people may be able to take advantage of these plans.

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» 10 Steps to Save Your Retirement

By Lawrence Groves | Published 10/1/2006 | Business Finance | Rating:

Many of the brightest and hardest-working marketing and advertising people in the country are obsessed with getting you to spend money and, if necessary, to go into debt to do so. Absolutely all the media that reach you every day are designed to get you to spend money. In order to save money in this environment, you will need determination to withstand the constant pressures to spend now.

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