Articles
Self-Directed IRA Valuations: Why Does My Self-Directed IRA Custodian Ask for a Valuation Update Every Year?
If you have a self-directed IRA with non-publicly traded assets like real estate, private stock, or an LLC interest, you’ve definitely been asked for an annual fair market valuation for the assets in your account. Why does your IRA custodian ask for this every year?...
IRA Contribution Deadlines: Two Out of Three IRA Types Can’t be Extended
You have until April 18th, 2017 to make 2016 IRA contributions for Roth and Traditional IRAs. If you're self-employed and are using a SEP, your deadline is determined by your company's tax filing deadline (e.g. s-corp, partnership, or sole prop). So, if you were an...
Quitclaim Deed Versus Warranty Deed, What to Use?
When it comes to transferring property, such as rental properties into LLCs or your personal residence into a Trust, it can be confusing understanding whether you should use a quitclaim deed or a warranty deed. Here is a brief description of each type of deed and when...
New 990-T Filing Rule for Self-Directed IRAs
The IRS recently released updated the extension rules for 990-T tax returns that are required for certain self-directed IRAs. Form 990-T is a tax return that must be filed by an IRA when it receives what is known as unrelated business taxable income ("UBTI"). For a...
GAO Report on Self-Directed IRAs Concludes IRS Lacking in Three Key Areas
The Government Accountability Office (“GAO”) concluded over a year of research and investigation on self-directed IRA's and 401(k)'s with a report to Congress called Retirement Security: Improved Guidance Could Help Account Owners Understand the Risks of Investing in...
2016 Self-Directed IRA Tax Reporting Requirements
Self-Directed IRA investors should be aware of the following IRA tax reporting responsibilities. Some of these items are completed by your custodian and some of them are the IRA owner’s sole responsibility. Here’s a quick summary of what should be reported to the IRS...
3 Year-End IRA Tips
It's the end of the year and many IRA investors are stressing about what they need to do by December 31, 2016. Here's what you need to know for your IRA as it relates to year-end. 1. 2016 Contribution Deadline. First, the good news. You don't have to make your 2016...
Pitching Your Business or Deal with Kevin Harrington from Shark Tank
I had the pleasure of interviewing Kevin Harrington on our Refresh Your Wealth podcast last week. Kevin was an original shark on the hit TV Show Shark Tank and appeared on 160 episodes. He is also the founder of the infomercial, a pioneer of As Seen On TV, and a...
RISE Act Bill Update for Self Directed IRA Investors
The RISE Act proposed by Senator Ron Wyden of Oregon would significantly impact self-directed IRAs. I previously wrote about the bill here and provided a detailed analysis. In summary, the bill would require that all self-directed IRA investment purchases be valued by...
SEC Notice 5866 and Self Directed IRA Investment Due Diligence
In 2012, the SEC and NASAA issued Investor Notice 5866, Self-Directed IRAs and the Risk of Fraud. In the notice, the SEC and NASAA outlined how self directed IRAs can be susceptible to numerous types of fraud and how self directed IRA investors can be bilked. The...
