Checkbook Control

Gifting Life Insurance to Charity

Well, one thing about how I write blogs.  Whether they are written well or poorly, whether they capture the reader’s attention or not, I will get on a topic and continue to write on the same topic for a while.  We have been on the topic of various options for giving to charities, and one topic within this arena is…read more →

Various Gifting Options for Charities

There are various gifting options for charities that a charitably-minded individual might consider.  Using a self-directed IRA or 401(k) plan to donate is not necessary, however, an individual may wish to establish a self-directed plan during the accumulation years of their plan to grow their retirement account with the freed0m and flexibility they may desire.  Also, it actually may be easier …read more →

Charitable Gift Options Using a Self-Directed 401(k)

When individuals are considering charitable gift options they rarely consider the most logical source to do such gifting….the funds that are the most taxed for estate purposes.  Okay, more simply, retirement plan account funds….specifically, for most, IRA and 401(k) funds.  It almost seems as if a prospective donor never seriously considers using such funds and, in my opinion, the charitable…read more →

IRS Form 5500-EZ Relief Program for 401(k) Plans

As many people know, small business 401(k) plans that only cover and owner and, potentially, their spouse are required to file a Form 5500-EZ if they meet the requirements to do so based on either the amount of assets within the plan or if they are terminating the plan.  The IRS Form 5500-EZ relief program for 401(k) plans is a…read more →

Retirement Plans Holding Longevity Annuities

The IRS has finalized regulations pertaining to retirement plans holding longevity annuities and how it impacts RMDs (Required Minimum Distributions) of such plans.  While I just did a post on this, it is always nice to get words directly from the IRS/Department of Treasury. Retirement plans holding longevity annuities has been an item of interest within retirement plan designing as…read more →

Longevity Annuities in Retirement Plans

As of July 2, 2014, the IRS has provided regulations pertaining to RMD (Required Minimum Distributions) requirements with longevity annuities in retirement plans.  Typically, we may be speaking of an IRA, self-directed or not.  But, it could affect a 401(k) as well. In simple terms, think of  longevity annuities in retirement plans  as an annuity that is intended to benefit the participant in the…read more →

IRS Makes Forming a 501(c)(3) Easier

Since the last blog topic dealt with the concept of a 401(k) donating to charity, we might as well stay on a somewhat related topic pertaining to the reasons why the IRS makes forming a 501(c)(3) easier to establish a charitable entity.  Unlike all of the recent talk about the IRS 501(c)(4) organization approval inquiry , c4s deal with not-for-profit organizations that promote social welfare while c3s…read more →

Self-Directed 401(k) — Leaving a Gift to Charity

Many people who have worked hard and been blessed to be successful may have sufficient funds to retire with.  These individuals may be interested in gifting funds to a charity they believe in.  Leaving a gift to charity is certainly a noble cause and should be applauded for such good intentions.  If you are one of these charitably-minded individuals and have…read more →

Solo 401(k) and SEP IRA

For those that are interested in self-directed retirement plans, it is easy to understand some of the confusion that exists in what plans the individual qualifies for and what type of retirement plan should be established.  In this post, we will address a solo 401(k)and SEP IRA. A self-employed individual who will consider a solo 401K(k)and SEP IRA may initially believe the SEP IRA…read more →

Self-Directed 401k Plans — When Life is Going Well?

This is a post I like to re-visit from time to time. I think one trait that can affect all of us is that when times are bad, boy are they bad.  And, when times are good, well, they are good.  That’s human nature to be swayed by polar opposites that may affect us. With the financial markets reaching unsurpassed highs, it…read more →