John’s Blog — Tidbits on a Lot of Things

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 →

2019 401(k) Contribution Limits

Listed below are the IRS changes made to 401(k) contribution limits to 401(k) plans for 2019. A Solo-K is also often referred to as a Uni-K and Individual K plan. As you will see, contributions went up slightly from 2018. Better upward than downward, I say! 2019 401(k) Contribution Limits The following changes were made to 2019 401(k) 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 →

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 →

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 →

Should Solo-K Contributions be Roth or After-Tax?

Well, first, I would say why not both!  But, many people when posed with the question, “should 401(k) contributions be Roth or after-tax” would say they are one in the same.  They are both treated as an after-tax contribution in that the contributions are still included in the participant’s taxable income.  So, they are the same, right? No.  In a…read more →

Why You Should Strongly Consider an IRA Trust

There are a few reasons why you should strongly consider an IRA Trust.  Okay, let’s take the mystery out of this equation:  for the typical client establishing the IRA Trust, to them it really won’t look that much different than an IRA LLC.  Both will allow you to invest into non-traditional assets (e.g., real estate), and both will permit you…read more →