Articles
IRA ROLLOVER ROLLER-COASTER: HOW TO ROLLOVER AN IRA FOLLOWING BOBROW AND IRS ANNOUNCEMENT 2014-15
In a recent case known as Bobrow v. Commissioner, the U.S. Tax Court held that an IRA owner may only conduct one 60-day IRA rollover within a one year period for all of their IRAs. This holding from the Tax Court, was in opposition to the customs of many IRA...
When is a Business Partner a Disqualified Person to My Self-Directed IRA?
Most self directed IRA owners know that their self directed IRA cannot conduct transactions with themselves or certain family members (e.g. spouse, kids, parents, etc.). Most self directed IRA owners also know that their self directed IRA cannot do business with a...
SEC NOTICE 5866 & SELF DIRECTED IRA 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...
Crowdfunding & Self-Directed IRAs: What Every Investor, Portal, and Offering Company Should Know
Crowdfunding is the newest form of raising capital for small businesses and start-ups and it will eventually dominate as a primary method of raising capital in amounts under $1,000,000. In essence, Crowdfunding relaxes the current securities law restrictions, which...
60 DAY IRA ROLLOVERS: TAX COURT SAYS DON’T FOLLOW IRS GUIDANCE
A recent U.S. Tax Court case, Bobrow v. Commisioner, T.C. Memo 2014-21, held that a taxpayer may only conduct one 60-day rollover of retirement plan funds per 1-year period. The Court’s opinion was a drastic change from what most taxpayers and professionals understood...
Managing a Rental Property Owned by Your Self-Directed IRA
When IRA-owned property is held for rent, the management of the rental property must be structured such that rental income is received by the IRA and expenses are paid by the IRA. The IRA owner and other disqualified persons (e.g. IRA owner, spouse, etc.) cannot...
ARE YOU CONSIDERING MOVING YOURSELF OR YOUR MONEY OUTSIDE THE U.S.?
Are you a U.S. citizen considering moving yourself or your money outside the U.S.? Before you or money leave the USA, first consider the tax and legal consequences as they are often misunderstood. U.S. Citizens have numerous tax and reporting obligations that arise...
401(k) Contributions from S-Corp Income
A properly structured s-corporation is utilized best when business owners adopt and contribute to a 401(k) plan. Whether the business has only one owner/employee (or spouses only) or whether the business has dozens or even hundreds of employees. Simply put, a 401(k)...
OBAMA’S MYRA RETIREMENT ACCOUNTS – UN-REALISTIC CAPS AND ZERO INVESTMENT OPTIONS
In President Obama’s recent State of the Union Speech he proposed a new method to save for retirement called a MYRA. The MYRA, will work like a Roth IRA as contributions are from after tax dollars and withdrawals will be tax free. Or, will they? Like the President’s...
Why You Need a Living Will? Ripped From the Headlines: THE MUNOZ CASE
The recent case of Marlise Munoz reminds us all of one important decision we should not leave to others: Whether we want to remain on life support or not. A living will is a legal document that can be used to make decisions as to whether we want to be on life...
