Self-Directed IRA & 401K Basics

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 →

Rollovers Into a Self-Directed 401(k) — Reporting Reminders

It really doesn’t matter whether a rollover is being made into a self-directed 401(k) vs. your traditional 401(k)…a rollover is  a rollover as it pertains to rolling over assets into the 401(k) and correctly reporting the rollover to the IRS. I have done past posts railing on some financial institutions who, in my humble opinion, do not correctly report the rollovers…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 →

Terminating Your “Solo” 401(k) Plan — IRS Requirements

You look this up on the IRS website (www.irs.gov) and you will see references that, while not required, the IRS takes the position that 401(k) plans are generally established to continue indefinitely.  This is understandable in how we look at a typical company-sponsored 401(k) plan…generally as long as the business continues its operation or its plan, it will operate somewhat…read more →

401k Plan Fees — 1.3%!!

A recent article on msn.com pointed out the perils associated with many 401k plans and high 401k fees.  It seems as if administering those 401k plans is quite an expensive undertaking. Of course, those of you who have read posts on this site before understand that most posts are geared at a self-directed 401k for a self-employed individual.  The benefits associated…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 →

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 →

Multiple Loans from More Than One 401(k) Plan?

If you want to watch this blog on a video, please feel free….just know that at the start of the video I state if you can have “multiple plans”, when I intended to say “multiple loans.” We are going to talk about a subject today that may not affect too many of you, but we will have fun with it….read more →