High investment returns is a concern for some members of Congress, resulting in them proposing a bill that would limit IRAs from investing in investments such as private investments that have the potential to exponentially grow the retirement account holders IRA. According to an outline by the House Ways and Means Committee a proposed bill […]
While recent news reports of Peter Thiel’s $5 Billion Roth IRA may have sparked awe and envy among everyday investors (as well as maybe a call to your financial advisor), there has also been an outcry that this is another example of the ultra-rich abusing the system in that retirement accounts are not designed to serve as […]
On September 9, 2021 the Department of the Treasury released their annual Priority Guidance Plan. The 2021–2022 Priority Guidance Plan contains 193 guidance projects that are priorities for allocating Treasury Department and Service resources during the 12-month period from July 1, 2021 through June 30, 2022 (the plan year). The projects on the plan will […]
It may come down the Employee Retirement Income Security Act (ERISA) as to whether or not funds inherited from a solo 401k plan are protected from bankruptcy creditors. A recent court case Dockins, No. 20-10119 (Bankr. W.D.N.C. June 4, 20221) involving a Wells Fargo Bank company 401k plan for Kirk Morishita the U.S. Bankruptcy Court […]
The SECURE ACT of 2019 allows a solo 401k plan to be adopted after the close of the self-employed business taxable year (by the due date, including extensions, for filing its tax return for the taxable year) and elect to treat the plan as having been opened as of the last day of the taxable […]
