IRS Prohibited Transactions

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 →

New IRA Rollover Rules — When Doesn’t it Apply?

You know there are many blog postings on the recent Bobrow vs. Commissioner Tax Court case with these blogs going into, sometimes, great detail about the ruling from that case which deals with IRA to IRA rollovers.  Since this post is not specifically about this case, let’s just simply state that beginning in 2015 an individual will be limited to…read more →

Self-Directed IRA & 401k Prohibited Transactions — Ask Yourself Questions

Probably the best advice any person, blog, etc. can provide someone who is either self-directing their retirement assets or considering establishing a self-directed IRA or self-directed 401(k) plan is to seek out professional tax and/or legal guidance.  Sometimes in the moment of establishing their plans, individuals can make an assumption that such as endeavor is not difficult and, as a…read more →

Self-Administered 401k Plans — It’s More than Having Control

We all get it…there are a lot of benefits to being the Trustee of your own 401k plan.  The ability to control your own 401k plan and invest the funds of that plan into assets that you believe are in the best interests of the plan. That freedom to invest in a world that can certainly include stocks, bonds and mutual funds,…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 →

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

I recently did a guest video blog for www.bawldguy.com.  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 →

Self-Directed 401K Plans — Don’t Trip

It’s a nice day, you are taking a nice casual walk and almost like someone playing a joke on you, you stumble while you are walking and almost fall flat on your face.  You look back, firmly believing that someone left something out to purposely make you look foolish, and what do you see?  Yes, that small crack in the…read more →

Double Taxation for Your IRA? Ever Hear About It?

Many people are, understandably, excited and interested in establishing a self-directed IRA or 401(k).  Good or bad, right or wrong, many individuals are concerned about having some or all of their retirement assets in the market and are looking for true ways of diversifying.  With the ups and downs of Wall Street and concern of market manipulation, it shouldn’t come as…read more →

Self-Directed IRA & 401K Promoters — Questionnable Practices?!

A couple of weeks ago, a client forwarded an email with a link to a webinar made by a self-directed IRA and 401(k) promoter.  The webinar was your typical webinar that spent a significant amount of time talking about the superiority of the company in establishing self-directed plans and guiding their clients to great wealth through proper planning of their…read more →

Are There Really 3 Types of 401K Plans?!

  If you spoke to the IRS or DOL, they most likely would tell you that all 401K plans must meet the code requirements established for 401K plans and not differentiate between any particular 401K.  However, are there differences?  No, from the standpoint that all 401K plans must adhere to the regulations established for 401Ks, but yes as it relates…read more →