Articles
Forbes Article on Complex Self-Directed IRA Rules
A recent article on Forbes by Bryan Ellis outlines the importance in making sure you understand self-directed IRA rules before you invest. Check out the excellent article and a quote from yours truly here. Also, Bryan has a significant amount of additional resources...
Republican Tax Reform Eliminates Coverdell IRAs and Roth Re-Characterizations
How does the proposed Republican tax reform impact your retirement account? Well, if you save for education expenses for your kids or grand-kids using a Coverdell Education Savings Account, you’re not going to be happy as new contributions to Coverdell accounts are...
4 Reasons to Ditch Your SEP IRA for a Solo 401(k)
If you are self-employed and use a SEP IRA to save for retirement, you should carefully consider moving those funds to a new Solo 401(k) (aka "Solo K"). Both SEP IRAs and Solo Ks are retirement plans commonly used by self-employed persons with no employees, such as:...
IRS Announces 2018 Retirement and HSA Contribution Amounts
The IRS announced new contribution amounts for retirement accounts in 2018, and there are some winners and losers in the bunch. The biggest win goes to 401(k) owners, including Solo K owners, who saw employee contribution amounts go from $18,000 to $18,500. Health...
The IRS Does Not Approve IRA Investments – “IRA Approved” or “IRS Approved” Terms Are False
There has been a significant increase in the amount of marketing directed towards IRA owners for non-publicly traded investments. Many of these investment sponsors and promoters are using marketing slogans like “IRS Approved” or “IRA Approved”. Don’t be fooled though,...
Penalty-Free Early IRA Distributions for College Education Expenses
Do you have tuition or other college expenses due for yourself, your spouse, or your child? Would you like to use your IRA to pay for these expenses? Would you like to avoid the 10% early withdrawal penalty for accessing your IRA funds before you are age 59 ½? This...
Self-Directed IRAs, the DOL Fiduciary Rule, and Private Investment Denials
The so-called “DOL Fiduciary Rule” went into effect in June and has caused negative repercussions on self-directed retirement account investors who self-directed their IRA, 401(k), or pension into alternative investments. Many self-directed...
Can Your SDIRA Own Bitcoin and Other Cryptocurrencies?
Yes, your IRA can invest in and own bitcoin and other cryptocurrencies. Bitcoin is a form of virtual currency using blockchain technology, and can be exchanged between parties for goods and services, or for dollars. From 2011 to July 2017, the value of Bitcoin...
Self-Directed IRA Owner Wins Appeal and Avoids Account Distribution for Common Mistake
Every year, there is at least one case when the IRS attempts to distribute a self-directed IRA for failing to meet a single technical requirement. This common situation arises when an IRA owner uses their standard, non-self-directed IRA to purchase assets that only...
Top Ten Frequently Asked Self-Directed IRA Questions (and Answers)
It's finally here: My top ten list of frequently asked self-directed IRA questions! Whether you're just getting started or you've been investing with a self-directed account for decades, make sure you know the answers to these ten questions. In most instances, I've...
