New IRS Beneficiary Distribution Rules For Solo 401k and IRAs Effective for 2022 & Later Years REG-105954-20 & SECURE Act

Last month (February 2022), the IRS finally published (see REG-105954-20) updated beneficiary distribution rules (the distribution rules for those who inherit IRAs, an d 401k plan funds including solo 401k). These rules replace the rules last published in 2002 and also encompass many of the provisions found in the SECURE Act of 2019 which then […]

Yes! Mega Backdoor Roth Solo 401k and Roth IRA 2021/2022 Lives!

Biden announced on December 16, 2021 that Senate will take up Build Back Better in 2022, resulting in the mega backdoor (both the conversion of voluntary after-tax 401k funds including solo 401k to the Roth IRA or the Roth solo 401k as well as the conversion of non-deductible IRA funds to the Roth IRA) not […]

Checkbook Control IRA LLC Recent U. S Tax Court Case – McNulty v. Commissioner, 157 T.C. No. 10 (Nov. 18, 2021)

Filed November 18, 2021 (ANDREW MCNULTY AND DONNA MCNULTY, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent), a taxpayer’s self-directed IRA was deemed as involved in a taxable distribution because the tax payer (McNulty) stored at her home the American Eagle gold coins purchased through her IRA owned LLC ( IRA LLC, also known as a […]

Proposed ban on IRA Accredited Investments Has Been Removed from Reconciliation Bill Build Back Better Act of 2021

Nov. 3rd, 2021: While the proposal to ban accredited investments in IRAs is still not in the latest pending bill, the Proposed Band of the Backdoor Roth & Mega Backdoor Roth is Back–See the following for more Information: Great news! The government has dropped from the pending Build Back Better Act  the proposal to ban accredited […]

Good News: Backdoor Roth and Mega Backdoor Removed from Pending Reconciliation Bill Build Back Better Act of 2021

UPDATE: Great News! The mega backdoor will not be banned for 2022 (LEARN MORE HERE) as President Biden announced on December 16 that the Build Back Better bill won’t get passed in 2021so you just need to adopt the solo 401k plan by December 31, 2021 so that you can make all solo 401k contribution types including the voluntary […]

Proposed Budget Reconciliation Amendment- The Build Better Act: Impact on IRA vs Solo 401k

Nov. 3rd, 2021: The Proposed Band of the Backdoor Roth & Mega Backdoor Roth is Back–See the following for more Information:   Update as of October 28, 2021: Great news–The retirement account provisions found in the pending Build Better Act  bill have been defeated. See the following for more information:  And   […]

Does Form 5471 Apply to Solo 401k, Self-Directed IRA or IRA LLC?

Form 5471 Information Return of U.S. Persons With Respect to Certain Foreign Corporations is is used by certain U.S. persons who are officers, directors, or shareholders in certain foreign corporations. The form and schedules are used to satisfy the reporting requirements of sections 6038 and 6046, and the related regulations, as well as to report […]

Self-Directed IRA LLC for Precious Metals Investment

Investing in precious metals is an additional way of diversifying one’s retirement funds in alternative investments. This is specially common when fears of inflation arise. Using an IRA LLC to invest in allowable precious metals is one way retirement account investors are diversifying their retirement funds while also combating inflation. Video Slides:

ROBS 401k Business Financing Vs. Self-Directed IRA LLC

Confusion often arises with respect to which type of retirement account may be used to finance one’s own business. This blog post will hopefully help clear this confusion which has led to some retirement account holders who mistakenly used their IRA to finance their own business instead of the ROBS 401k. Video Slides:

The Do’s and Don’ts of Self-Directed IRA LLC Real Estate Investing

A self-directed IRA LLC is commonly used to invest in real estate such as family homes, commercial real estate, farm land, condos, and rentals. As with all IRA investments, certain rules when investing an IRA LLC in real estate, and running afoul of the IRA prohibited transaction rules can result in serious tax consequences. Examples […]