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Looking for the form to certify that your distribution is a Coronavirus related distribution? Here it is. Here is a link to the IRS form W4P https://www.irs.gov/pub/irs-prior/fw4p–2020.pdf Here is a quick video on how to fill it out along with…
As I’m typing this the market is down well over 20% from the beginning of the year. A direct result of this market correction is that my phone and email are being blown up by clients. Their main question is…
In 2001 Congress enacted a law allowing the IRS to waive the 60 day IRA rollover requirement, “where the failure to waive such requirement would be against equity or good conscience, including casualty, disaster, or other events beyond the reasonable control…
Yesterday I had a client call me up and explain that she was frustrated as her self directed account was only earning 1.2% in interest. I suggested she look at doing hard money loans but she was a bit nervous…
Tons of people have set up IRA LLCs. The theory is that since they are the beneficiaries of the IRA they are indirectly the owners of the IRA LLC and the assets inside of the LLC. There is another belief…
Its a tale as old as time. You’re fresh out of college and trying to figure out what to do with your life. There are a lot of opportunities, but you follow your parents advice and decide to get a…
When you owe the IRS money they can pretty much come after any asset that you own. That includes your retirement plan assets. As verification of that fact, the IRS issued a new memo for Revenue Officers (IRS collectors) reminding…
When you request a distribution from your qualified retirement plan such as a profit sharing plan or 401k, the tax code requires that your plan withhold 20% in taxes. This really messes things up if you planned on rolling over…
Can your 401k be taken away if you file bankruptcy? As a general rule, 401ks are protected in bankruptcy. The bankruptcy code has 2 different key sections that will protect your 401k funds. The first section is 541 of the…