Articles
Performing Due Diligence Before You Invest & The Due Diligence Top 10 List
Before you invest your hard earned savings or your self directed IRA into a “non-traditional” business or real estate investment of another you need to ask some hard questions to the person or business receiving your money. Here are some tips to keep you out of legal...
Obama Budget Includes Wish to Limit Retirement Account Size to $3 Million
Many clients have e-mailed me about President Obama's new budget proposal which seeks to limit the collective size of an individuals retirement accounts (including IRAs and 401(k)s) to $3 Million dollars. This measure does not contain specifics but does indicate that...
What Can My Self Directed Retirement Account Invest Into and The Prohibited Transaction Rule Basics
A self-directed retirement account, in short, is a retirement account administered by a custodian who allows your retirement account to invest into any investment allowed by law. The law applicable to retirement accounts allows retirement accounts (such as IRAs or...
The Not So Well Known Benefits of Roth IRAs
Many investors and financial professionals are familiar with the primary benefits of a Roth IRA: that after you pay taxes on the money going into the Roth IRA that the plans investments grow tax free and come out tax free. That being said, there are so many more...
Utilizing Multiple LLCs & A New Series LLC State
Last year Kansas became the ninth state to adopt a Series LLC statute and their law is now in full effect. A Series LLC allows a real estate investor with multiple properties to increase their asset protection by minimizing their liabilities between properties. But...
Navigating the 2013 Capital Gain Tax Maze
Before the new 2013 capital gains rates went into effect taxpayers had a relatively simple way of understanding their capital gains taxes as there was only two rates for long term capital gains: zero percent for low income earners and 15% for middle and upper income...
Raising Money Under the New Rule 506(c) Offering: Advertising Now Allowed
The JOBS Act of 2012 amended the rules for private placement offerings (aka “PPMs”) to allow people to advertise and solicit their offerings to prospective investors. Under prior law, a PPM could not be marketed or solicited to people whom the offeror did not have an...
S-Corp Salary/Dividend Split and Reasonable Compensation
One of the most common tax minimization strategies used by operational small business owners is known as the salary/dividend or salary/net income split. This strategy can only be properly executed in an s-corporation where a business owner can pay themselves a portion...
2013 Retirement Plan Contribution Limit Increases
By: Mathew Sorensen, Partner KKOS Lawyers Good news. The IRS has announced increases into the amount of money individuals may contribute into their retirement plans in 2013. The IRS increased the amounts that may be contributed to Traditional and Roth IRAs. The IRS...
2012 Estate Planning Opportunities & Year End Considerations
By: Mathew Sorensen, Partner KKOS Lawyers The 2012 estate and gift tax exemption is $5,120,000. This means that the first $5,120,000 of an individual’s estate may be inherited (at death) or gifted (during life) in 2012 before any estate or gift tax is due. This...
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