Please check out our webinar where we review whether you can earn interest on cryptocurrency/bitcoin in a Solo 401k/IRA account IRS View of Cryptocurrency How to Invest Retirement Funds in Crypto How to Earn Interest on Crypto/Bitcoin Will the IRS tax interest on Crypto/Bitcoin in My Solo 401k/IRA? What is Cryptocurrency? Per IRS Revenue Ruling […]
One option if you are no longer self-employed, or if you no longer qualify for a solo 401k plan because your business has grown resulting in hiring a full-time or multiple full-time W-2 employees, is to invest the solo 401k funds in single member LLC where the solo 401k is the sole member of the […]
The IRA conversion and IRA recharacterizing rules can be easily confused. Following are the differences between these two IRA transactions. What is a conversion? A conversion occurs when IRA funds including assets (e.g., real estate, IRA owned LLC, notes, and even equities) are moved from a Traditional IRA, SIMPLE IRA, and SEP IRA to a […]
QUESTION: Do I have to file an annual tax return for my IRA LLC? ANSWER: It depends on certain factors such as the following: LLC Entity Annual Report: Virtually all states require that an annual report for the LLC is filed with the Secretary of State. LLC Entity State Income Tax Return: Some states require […]
On September 17, 2020 the Employee Benefit Research Institute (EBRI) released their research findings surrounding the growth in IRA balances from 2013 through 2017. Here are some of the EBRI findings: The average individual retirement account (IRA) balance increased from $93,441 in 2013 to $114,383 in 2017, an increase of 22.4 percent. The average contribution […]
