Posts Tagged "irs"

How do I Complete a W-9 for an IRA LLC

The use of a W-9 with your IRA LLC investing is a certainty.  Don’t be afraid to complete and submit….you will need to complete at some point in time, especially if you make a passive investment with an investment sponsor.  The W-9 is not submitted to the IRS; rather, a W-9 is utilized to collect information for tax reporting, including…read more →

Rules for IRA LLC Contributions and Distributions

Self-directed IRA LLC investors are understandably concerned about complying with IRS and DOL Prohibited Transaction rules, but they can often forget some rules for IRA LLC contributions and distributions.  Don’t be laxed, confused or ambivalent about important rules for contributions and distributions from your IRA account when utilizing an IRA LLC structure.   It is always important to pay attention to…read more →

IRS, Taxes and Domestic Abuse

IRS, taxes and domestic abuse are not topics you would normally think being related to each other in any way; however, this blog is intended to show that when it comes to domestic abuse, the taxpayer who has been subjected to such abuse, has rights that can assist and protect them  from their spouse (or former spouse).  As you might imagine…read more →

Disadvantages of an IRA Trust

In the previous blog we did a general comparison of the IRA LLC to the IRA Trust.  While the IRA LLC has, historically, been the “go to” self-directed IRA product, an IRA Trust is certainly making (and should be making) a name for itself as a possible better option.  But with what is good, many times there are potential negatives. …read more →

Using an IRA Trust Rather Than an IRA LLC?

The IRA LLC is the “go to” for the self-directed IRA investor who wishes to have checkbook control of their IRA funds.  However, though not well known, there is growing interest in using an IRA Trust rather than an IRA LLC.  Let’s get some basics out of the way right off the bat:  both structures permit checkbook control to the…read more →

The IRS is Breaking the Law?

Okay, this really does not have anything to do with a self-directed IRA or self-administered 401(k) plan (otherwise, referred to as a Solo-K, Uni-K, self-directed 401(k), one-participant 401(k), etc.), but I found it of interest.  In short, I read a recent position paper by Kimberly Houser (Washington State University) posted in the Vanderbilt Journal of Entertainment and Technology Law claiming…read more →

Terminating Your Self-Administered Solo-K Plan

As I have said before, there comes a time for most where it is time to give your solo-k (also referred to as a self-directed 401(k), self-administered 401(k), uni-k, or individual 401(k) plan) a proper send-off.  In simple terms, how does one go about terminating your self-administered Solo-K plan. For many, a Solo-K plan is almost like a human life….read more →

Does the Manager of a 401(k) LLC Need a Real Estate License?

Similar to an IRA LLC, a 401(k) LLC (some 401(k) trustees elect the LLC feature, some do not) is a structure where an LLC, whose sole member is the 401(k) plan, invests on behalf of the 401(k).  In instances where investments are being made into real estate, the LLC structure can be of great benefit to the Trustee and the…read more →

Why You Should Strongly Consider an IRA Trust

There are a few reasons why you should strongly consider an IRA Trust.  Okay, let’s take the mystery out of this equation:  for the typical client establishing the IRA Trust, to them it really won’t look that much different than an IRA LLC.  Both will allow you to invest into non-traditional assets (e.g., real estate), and both will permit you…read more →

Taking a Distribution from Your Solo-K Tax Free?!

And, we aren’t talking about a Roth distribution after age 59 1/2!! Taking a distribution from your Solo-K tax free is possible. Now these plans (also marketed as Uni-K, Individual 401(k), self-directed 401(k) and self-administered 401(k) plans) are just like any 401(k) plan…which, generally, means that this might not be possible. Ah, the first thing you think: “The person has…read more →