Roth IRAs

Does the IRS approve of Roth IRA LLCs?

Did you know that if you mess up your IRA rollover the IRS has a process where you request a second chance?  The great part is they typically grant the 2nd chance so long as you haven’t done anything wrong with the IRA.  Which brings up an IRS ruling that just came out today about Read more about Does the IRS approve of Roth IRA LLCs?[…]

Guarantees and prohibited transactions for IRAs

Tax Court released a new ruling saying the mere act of guaranteeing the assets of an IRA is a prohibited transaction.  Nothing really new here but just confirms what a lot of people are trying to deny. Here’s an interesting twist though, the case was over the liability of the IRA owners for taxes generated Read more about Guarantees and prohibited transactions for IRAs[…]

Self directed IRA prohibited transaction rule gotchyas

Was reading a case today where the Department of Labor was saying an individual violated his fiduciary responsibilities by amongst other things, loaning money to his employees.  Appears the guy even went to jail for all the stuff he was doing with the retirement plan. I like to think I know the prohibited transaction rules Read more about Self directed IRA prohibited transaction rule gotchyas[…]