IRA LLC & Trust Basics

Self-Directed IRA & 401K — Legal Alert — A Prohibited Transaction that You May Not Even Know About

A Prohibited Transaction that you may not even know about is what the IRS refers to as “self-dealing” between a retirement plan and the account owner (disqualified individual). Specifically, and related to this post, the IRS stipulates that a Prohibited Transaction has occurred if (please note this is a particial list): Any of the following acts between the plan and…read more →

Self-Directed IRA — Why an F May Be Better Than an A or a C!

Whether it be a self-directed Roth IRA, Traditional IRA or SEP IRA, learn why it might be important to you to save money on IRA custodian fees AND have full control of your IRA retirement plan and retirement savings. You see, in the world of self-direction, you typically have the options of utilizing a IRA Facilitator, IRA Administrator or IRA…read more →

Self-Directed IRAs — The Proverbial Dog?! (Part 4)

This is Part 4 of our “Home Alone” tribute and your “woof woof” IRA.  You may remember from the three posts that we outlined that while an IRA is never a bad thing, compared to a 401K it is like dog food….thus, woof woof. That being said, what is a fourth reason of why the 401K is a clearly more preferred retirement plan…read more →

Self-Directed IRAs — The Proverbial Dog?! (Part 3)

This is Part 3 of our “Home Alone” tribute and your “w00f woof” IRA or self-directed IRA.  You may remember from the first two posts that we outlined that while an IRA is never a bad thing, compared to a 401K it is like dog food….thus, woof woof.  And, similarly, the self-directed 401K clearly outpaces the self-directed IRA. That being said, what…read more →

What is a Self-Directed IRA – The Proverbial Dog?! (Part 2)

This is Part 2 of our “Home Alone” tribute and your “w00f woof” IRA.  You may remember from the first post that we outlined that while an IRA is never a bad thing, compared to a 401K it is like dog food….thus, woof woof. That being said, what is a second reason of why the 401K is a clearly more…read more →

Is a Self-Directed IRA a Good Idea? — Maybe Not!

Okay, you got me on this one.  Is an IRA a bad idea or consideration?  Of course not. Now, ask me if a self-directed IRA is a bad idea or consideration and the water just got murkier. Why? It is not that a self-directed IRA is bad….I would always choose a self-directed IRA over your standard IRA.  Personally, I do…read more →

What is a Self-Directed IRA — The Proverbial Dog?! (Part 1)

Okay, every so often I like to pull out some movie references.  You may remember “Kevin” in the 1980’s classic, “Home Alone.”  There is a part in the movie where Kevin has his older brother’s (Buzz) wallet, proceeds to pull out a picture of Buzz’s girlfriend and says, “Buzz your girlfriend…woof.”  So, what, pray tell, does this movie reference have to…read more →

What is a Self-Directed IRA…And, Why You Don’t Care!

Many times people will call and ask the following: 1)  “What is a Traditional IRA?” 2)  “What is a Roth IRA?” 3)  “Can I Self-Direct”? Typically, they have done some online research and realized that they may be able to self-direct the assets within their IRA or 401K.  However, while these folks have clicked endless online links as to why…read more →

IRA Accounts — Don’t Face IRS Scrutiny or Penalties

There is a saying that goes something like, “with great freedom comes great responsibility.”  This statement, when applied to IRAs in general, and self-directed IRAs in particular, couldn’t ring more true.  It may not be a question of “how to be self-directed”, but rather IF you should be self-directed. Why? The penalties associated with triggering an IRS Prohibited Transaction within…read more →

Self-Directed IRA Co-Ownership — I Know I Can’t Do This….But?!

Many times, husbands and wifes who wish to use their respective IRA accounts for self-directed investments want to be co-owners of each others IRAs so they can make investments from one account. While a husband and wife can, generally speaking, rollover funds into ONE self-directed 401K where they both serve as co-trustees, this cannot be done with an IRA.  However,…read more →