Articles
Three Instances of When You Need a New Subsidiary Entity for Your Business
Are you growing your business? Adding new products or services? New locations? Adding partners or owners? If so, these are all instances when you should consider setting up a subsidiary or other new entity for your existing company. While you can run multiple streams...
Solo K 5500-EZ Requirement and $15,000 Failure to File Relief
Do you have a Solo 401(k)? Have you been filing form 5500-EZ each year for the Solo 401(k)? Are you aware that there is a penalty up to $15,000 per year for failure to file? While some Solo 401(k)s are exempt from the 5500-EZ filing requirement, we have ran across...
Where Should I Title My Real Estate: An LLC, a Trust, or Personally?
Real estate may be owned in your personal name, in a business name, or in a trust. You may have heard of revocable living trusts, corporations, LLCs, series LLCs, or limited partnerships. Here's a quick guide to where you should own different types of properties. 1....
Top Three Mistakes in Solo 401(k) Plans
Solo 401(k) plans have grown significantly and are often used by self-directed investors. Solo 401(k)s are an excellent tool for self employed persons to maximize contributions in their own business or self-employment just like large companies who offer plans for...
RMDs and Solo 401(k)s: Three Quirky Rules to Know
All retirement account owners must be familiar with the required minimum distribution ("RMD") rules applicable to their accounts. These rules require you, in most instances, to take partial distributions from your retirement account when you reach age 70 ½. And,...
2017 Tax Reporting for Your Self-Directed IRA
Self-Directed IRA investors should be aware of the following IRA tax reporting responsibilities. Some of these items are completed by your custodian and others are the IRA owner’s sole responsibility. Here’s a quick summary of what should be reported to the IRS each...
Maxed Out Your 401(k), What’s Next?
For most American workers and business owners, the first vehicle to save and invest in is your 401(k). The tax benefits and the typical company matching that offers free company money make a 401(k) a great place to save and invest for the long-haul. But what if…
2017 Solo 401(k) Contribution Deadlines and Mechanics
As 2017 comes to an end, it is critical that Solo 401(k) owners understand when and how to make their 2017 contributions. There are three important deadlines you must know if you have a Solo 401(k) or if you plan to set one up still in 2017. A Solo 401(k) is a...
GOP Tax Reform and Retirement Accounts
Its official: We have tax reform. But, how does it affect your IRAs, 401(k)s, 529s, Coverdells, and other retirement and education savings accounts? Let’s break down what’s new, what was proposed and didn’t make it, and what stays the same. New Changes for 2018 There...
Tax Planning for Bitcoin and Other Cryptocurrency Profits
Bitcoin, Ethereum, Litecoin, and other cryptocurrencies have seen dramatic price increases this year. Have you thought about cashing in? Are you wondering how will you be taxed? Cryptocurrency is a Capital Asset The IRS has clearly stated that cryptocurrency (aka...