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 →

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 →

Taking a Distribution from Your Solo-K Tax Free?!

And, we aren’t talking about a Roth distribution after age 59 1/2!! Taking a distribution from your Solo-K tax free is possible. Now these plans (also marketed as Uni-K, Individual 401(k), self-directed 401(k) and self-administered 401(k) plans) are just like any 401(k) plan…which, generally, means that this might not be possible. Ah, the first thing you think: “The person has…read more →

Maximum Contributions to Your 401(k) with Less Income!

How do you have maximum contributions to your 401(k) with less income?  Enjoy Part 2 of a blog series on after-tax contributions you can make to your Solo-K plan (also marketed as Uni-K, self-directed 401(k), self-administered 401(k) and Individual 401(k) plans).  From the previous post on this topic, an initial introduction was provided to give a brief explanation as to…read more →