Checkbook Control

How to Execute a Solo-K Roth Conversion

Folks this option has been around for a while and it worthy of consideration. It is not new (2010), and for those that are will to pay Uncle Sam his share of the taxes, it is a great way to “get” more Roth dollars into your plan. Your Plan Must Permit! Just because this is permitted within any 401(k) plan,…read more →

Solo-K Contribution Limits for 2020

For those of you who are self-employed, the IRS increased the contribution limits for 401(k) plans, including Solo-Ks, for 2020. These changes also positively affect 403(b), most 457 plans and government Thrift Savings plans well. Contributions to your Solo-K are made into 2 buckets: #1 – Elective Deferrals Effective for January 1, 2020, the elective deferrals for your Solo-K has…read more →

Individual 401(k) Plan vs Solo-K Plan…are they the same?

We aren’t trying to confuse you by asking this question. An individual plan and Solo-K plan are the same. Whether the plan is called a Solo 401k, Solo 401(k), One Participant Plan or Uni-K, they are the same. They may also cover that individual’s and potentially that person’s business partner and/or spouse. From an IRS perspective, there would not be…read more →

IRS Tax Scams

After being scammed (almost) by one of the bad guys myself, I learned just how easy it is to potentially fall for some of the tricks of the trade. After reading a recent IRS post on this topic, I figured why not share some of the scams that the less-than-honest folks who live among us are doing: Phone Scams This…read more →

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 →

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 →

Tax-Free Income from Your Business?!

  Anyone who has read my posts or spoken with me have always heard me say that PGI does not provide tax, legal, financial or investment advice….and, this blog is no exception to that.  But, if you interested in receiving tax-free income from your business and implementing this strategy, it is imperative that you review the permissiveness of this strategy with…read more →

Watch Out for Scams to Collect IRS Taxes Owed

Watch Out for Scams to Collect IRS Taxes Owed

Watch out for scams to collect IRS taxes owed as the bad guys are getting better and better at doing bad things, and the IRS is trying its best to keep up with them.  Over the last few years, the IRS has implemented tools to help fight the problem but, as with any criminal endeavor, the crooks see $$ and…read more →

IRS — Protecting and Validating Your Identifty

I know this is nothing related to self-directed IRA or self-administered 401(k) plans. These plans assist an investor in investing their retirement assets into assets permitted by IRS rules, but not offered by your typical brokerage firm. However, sometimes you come across nuggets of information that are useful and is valuable (hopefully) to “throw out” there. For those of us…read more →

Identity Theft — How the IRS is Trying to Help

Let’s face it, identity theft is not going away and it certainly has gotten worse.  There are many things that we can do to try to protect ourselves….and, the IRS and states know there is more they can do to try to protect citizens from tax-related identity theft issues. A large concern that we are all worried about…..fraudulent tax returns…read more →