Checkbook Control

Self-Directed 401k Plan Reporting — Facts & Circumstances

3For those of you that have or are considering an individual 401(k) plan (self-directed or not), you most likely have been educated that for an individual plan, an annual reporting of plan assets does not need to occur for an individual plan (individual plan with no common law employees and limited to the business owner and his/her spouse) unless assets…read more →

Using Your 2013 IRS Tax Refund to Make a 2014 IRA Contribution?

Most of you who qualify for an IRS tax refund are not necessarily looking into whether you can use that refund for an IRA contribution.  But, recently I read with great interest a blog post from nationally-recognized IRA expert Ed Slott on this very topic.  It is a great piece on this subject and one, quite honestly, that many probably…read more →

Self-Directed 401k Plans — Purchasing Life Insurance?!

There are many financial experts who adamantly state that qualified plans funds (e.g., 401k) should never be used to purchase life insurance.  However, there is a movement that is a brewing where more and more individuals are considering investing into life insurance contracts….typically through life cash value policies.  While this post is not providing financial advice, probably the safe rule…read more →

Should Life Insurance be Part of Your 401(k) Plan Investments (Part 1)

  “The use of qualified plan funds to purchase life insurance has long been an option for those with a life insurance need….in all cases, there can be significant tax and business advantages to funding life insurance needs through a qualified plan”….Henry A. Deppe, CLU and Former General Agent of Guardian Life Insurance Company and faculty member at Purdue University,…read more →

Self-Directed 401K — End of Year Reminder

It is this time of year when most of us start slowing down and gearing up for the upcoming holiday season.  While we know that there are some things that we should or must attend to before the start of the new year, it almost seems like it takes an Act of Congress to get us to attend to some of…read more →

When Might an IRA be Better than a 401K? Maybe with a QCD!

IRA, 401(k), QCD…sounds like going to school all over again.  However, in this case it would be the School of an IRA Benefitting a Charitable Organization (and, possibly, the IRA account owner as well!). For those of you who have read any of my past blogs, as a general rule (and assuming one qualifies for the 401(k)) the benefits of…read more →

Encumbered IRA Asset Rollover into a 401(k) — Permissible?!

Recently, I did a blog on a social media site for which I was lambasted by one really, really friendly, self-proclaimed, all-knowing expert on ANYTHING related to IRAs (yes, if you can sense I use sarcasm, you would be correct!).  I was being criticized for how I answered a question by a person in the room when I was only…read more →

Establishing a Self-Directed 401K? Why Not Qualify for a Tax Credit?!

For those of you who are exploring self-directed IRA and self-directed 401K plans, you have seen that there is a wide range of companies that assist in that regard.  Not only can their services vary dramatically, but so can their account establishment and on-going fee structures.  You may have narrowed down the choice as to whether or not to establish…read more →

IRS Releases Most Recent Telephone Scam

Well, the bad guys are at it again.  It seems where there is a way to make money on the unfortunate back of others, the criminals just don’t care. While this post has nothing to do with self-directed IRA and self-directed 401(k) plans, it is always good to educate folks related to these scams if it can help get out the…read more →

Thinking About a Self-Directed IRA? Ever Thought of a 401(k)?!

I recently did a guest video blog for  The subject related to the benefits of a solo 401(k) plan vs. any IRA.  Are IRAs bad…of course not.  But, especially for an self-employed individual, I just don’t see the benefits of any IRA over a 401(k). One should understand that the potential penalties associated with a Prohibited Transaction within an IRA…read more →