Real estate IRAs are popular with people who want diversity and leverage against potential losses in the stock market. You can choose your own assets including commercial and residential property, raw land, as well as tax liens and deeds.
Millions of investors are seeking professional advice for investing trillions of dollars in U.S. retirement assets. Understanding and embracing self-directed IRAs means a new source of clients, investors, and capital.
Are you aware of how the provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act impact your retirement planning? The act’s main purpose is to provide immediate financial relief to individuals, families, and businesses that face somewhat dire financial straits due to COVID-19. It … Read More
Do you know how the SECURE Act impacts retirement plans? Below is a short list with explanations of the main elements that impact our clients. This list is not comprehensive. We advise you to consult your financial and/or tax professional to help you navigate the new law. Take … Read More
It’s that time of year again. Fair market valuations (FMVs) are required by the IRS for the assets in your retirement plan. These valuations must be assessed by end of the income tax reporting year. You’re not allowed to perform them yourself—a qualified, independent third party must … Read More
There is currently a bill in the Senate designed to help more Americans save for retirement. While the Setting Every Community Up for Retirement Enhancement (SECURE) Act does pose a few regulations to help the average American do exactly that, there’s one provision that has alarm bells … Read More
You’d think that you’d remember to take your required minimum distribution (RMD). But, too often many people do, especially if you’re working past retirement age and don’t need those funds to live on. If you forgot to take an RMD, if you catch it before you file … Read More
This is an excellent question. What happens if you contributed more to your IRA than allowed? Often, these mistakes are caught around the time your trusty CPA is preparing your taxes. Hopefully, they catch the error in time to make adjustments that may ease the 6 percent … Read More
Roth IRA conversions allow you to move some or all of the funds from your traditional IRA account into a Roth account. If you’re going to convert, you must do so by December 31st of the tax-reporting year. And, as you know, that deadline is coming up … Read More
The IRS goes to great lengths to explain the penalties of your IRA dealing with disqualified persons. These prohibited transactions can incur penalty, taxation, and even the loss of the tax-sheltered status of your account. However, there’s one investing tactic these regulations do allow that may surprise … Read More
Prohibited transactions are dealings your IRA must avoid to comply with IRS regulations that govern retirement plan investments. If you self-direct an IRA, it is your responsibility to understand what these transactions entail and to avoid them at all costs. Failure to do so can dramatically affect … Read More
Investors who understand and follow rules that govern IRAs have one thing in common: They rarely get in trouble with the IRS. Why? Because compliance with the IRS keeps all retirement accounts, including self-directed IRAs, in good standing. Failing to do so can cause heavy penalties, taxation, and even … Read More