IRS Prohibited Transactions

Can IRAs be Co-Jointly Owned? (Remember the “I”)

The simple answer is…..NO! Why? Remember, the “I” in IRA stands for Individual, and not anyone else. While you can certainly make other individuals to beneficiary of your IRA, it is still YOUR IRA. So, with regard to a self-directed IRA, a typical question will be, “Is there any way my IRA and my wife’s IRA can be brought together…read more →

Prohibited Transaction — Probably the MOST Violated?

Prohibited Transaction — You Can’t Buy Property You Already Own!!

No. This would be considered a prohibited transaction (see IRC 4975). You may not purchase property which is currently owned by you or any other disqualified person. You would need to find another piece of Real Estate that you don’t already own to purchase.

Gosh, IRA & 401K Rollovers Are Exciting!!

You are probably wondering why I would have a video or Norm Macdonald on this blog.  It is because the subject matter or IRS rollovers are, well, what should we say….boring!?  But, while boring, it is vital that you know what the rules are so that you know how to execute the rollover.  In this post, we will be focusing on…read more →

“My CPA Said the IRS Prohibits my 401K from Investing in Real Estate!”

  This was a recent comment made regarding a soon-to-be client after visiting with their CPA.  While we do not hear this comment as much as we used to, we still do hear it.  Whether it is our CPA, financial adviser or broker, the mantra can be the same:  “The IRS doesn’t allow you to invest in assets like real…read more →

What Does the IRS Think of Investing in Real Estate?!

What DOES the IRS really think about people investing in real estate with their IRAs and 401Ks?

Self-Directed IRAs & 401Ks – Who the Heck are Disqualified Individuals?!

Wanna self-direct? Make sure you follow this IRS Prohibited Transaction and your life will be easier!

Thoughts on Wall Street — and Control — YOURS!

Sooooo, is Wall Street a scam?! Well, actually, while we might believe it is at times, most likely it is not. But, with all the rash of problems in the market that has surfaced and continued to hold high its ugly head over the last couple of years, one does definitely wonder. Since, there are many articles and posts devoted…read more →