John’s Blog — Tidbits on a Lot of Things

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 →

Terminating Your Self-Administered Solo-K Plan

As I have said before, there comes a time for most where it is time to give your solo-k (also referred to as a self-directed 401(k), self-administered 401(k), uni-k, or individual 401(k) plan) a proper send-off.  In simple terms, how does one go about terminating your self-administered Solo-K plan. For many, a Solo-K plan is almost like a human life….read more →

Reporting 401(k) and IRA Rollovers

Congratulations!  You established your self-administered Solo-K and you are in the process of rolling over funds into the plan.  You have been advised of reporting 401(k) and IRA rollovers into your new plan, and you want to make sure you do this correctly.  Let’s face it…you don’t want a letter from the IRS telling you it appears you owe them…read more →

Does the Manager of a 401(k) LLC Need a Real Estate License?

Similar to an IRA LLC, a 401(k) LLC (some 401(k) trustees elect the LLC feature, some do not) is a structure where an LLC, whose sole member is the 401(k) plan, invests on behalf of the 401(k).  In instances where investments are being made into real estate, the LLC structure can be of great benefit to the Trustee and the…read more →

Does the Manager of an IRA LLC Need a Real Estate License?

In short, no….not only do you not need it, you shouldn’t have it and can’t use it for an IRA LLC real estate investment.   I will be the first to admit that this is a bit of a teaser blog topic…but there is good reason.  And, believe it or not, I have had both IRA LLC managers and IRA…read more →