John’s Blog — Tidbits on a Lot of Things

How do I Complete a W-9 for an IRA LLC

The use of a W-9 with your IRA LLC investing is a certainty.  Don’t be afraid to complete and submit….you will need to complete at some point in time, especially if you make a passive investment with an investment sponsor.  The W-9 is not submitted to the IRS; rather, a W-9 is utilized to collect information for tax reporting, including…read more →

Is the Solo-K Best for the Self-Employed Individual?

For the self-employed individual, there are various retirement plans that may be of interest.  There is always the question: is the Solo-K best for the self-employed individual?   For this blog, we are not going to be comparing different plans.  What we will address are some key components to the Solo-K that you should certainly consider in your selection of the…read more →

Rules for IRA LLC Contributions and Distributions

Self-directed IRA LLC investors are understandably concerned about complying with IRS and DOL Prohibited Transaction rules, but they can often forget some rules for IRA LLC contributions and distributions.  Don’t be laxed, confused or ambivalent about important rules for contributions and distributions from your IRA account when utilizing an IRA LLC structure.   It is always important to pay attention to…read more →

2018 401(k) Contribution Limits

This week the IRS came out with changes to the 2018 401(k) contribution limits…and contribution limits for other plans.  This newly-released 2018 401(k) contribution limits also apply to a Solo-K plan (which is also often referred to as an individual 401(k), uni-k plan, self-administered 401(k) and self-directed 401(k)).    While no major changes occurred, any upward change in contribution limits…read more →

IRS, Taxes and Domestic Abuse

IRS, taxes and domestic abuse are not topics you would normally think being related to each other in any way; however, this blog is intended to show that when it comes to domestic abuse, the taxpayer who has been subjected to such abuse, has rights that can assist and protect them  from their spouse (or former spouse).  As you might imagine…read more →

Disadvantages of an IRA Trust

In the previous blog we did a general comparison of the IRA LLC to the IRA Trust.  While the IRA LLC has, historically, been the “go to” self-directed IRA product, an IRA Trust is certainly making (and should be making) a name for itself as a possible better option.  But with what is good, many times there are potential negatives. …read more →

Using an IRA Trust Rather Than an IRA LLC?

The IRA LLC is the “go to” for the self-directed IRA investor who wishes to have checkbook control of their IRA funds.  However, though not well known, there is growing interest in using an IRA Trust rather than an IRA LLC.  Let’s get some basics out of the way right off the bat:  both structures permit checkbook control to the…read more →

Contributions to Your Self-Directed IRA

Not to sound like a broken record, but a week ago I wrote a blog on the topic of distributions from your self-directed IRA and warned that an IRA account owner be circumspect in how they take out distributions…either elective or required (RMDs).  Specifically, “keeping your nose clean” by taking out distributions correctly from your IRA account, even IF your IRA…read more →

The IRS is Breaking the Law?

Okay, this really does not have anything to do with a self-directed IRA or self-administered 401(k) plan (otherwise, referred to as a Solo-K, Uni-K, self-directed 401(k), one-participant 401(k), etc.), but I found it of interest.  In short, I read a recent position paper by Kimberly Houser (Washington State University) posted in the Vanderbilt Journal of Entertainment and Technology Law claiming…read more →

Distributions from Your Self-Directed IRA

Whether you have an IRA LLC or an IRA Trust, there may be a times that you want or are required to take distributions from your self-directed IRA.  Distributions from your self-directed IRA may be in the form of a “normal” taxable distribution from your traditional IRA, a tax-free distribution from your Roth IRA, or you may be taking a…read more →