Tag Archives: IRA LLC

The SECURE Act & the 2022 IRS Proposed RMD Regulations Results in The End of the Stretch IRA for Most Non-Spouse Beneficiaries

With the passage of the 2019 SECURE Act and the proposed regulations regarding RMDs that were published earlier this year in 2022,  the  so-called “stretch” IRA  has been officially eliminated in most cases when the beneficiary is not the spouse.  As a result, most non-spouse IRA beneficiaries are now required to empty their inherited IRAs […]

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 […]

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:  https://www.mysolo401k.net/back-again-backdoor-roth-and-mega-backdoor-roth-added-back-to-pending-reconciliation-bill-build-back-better-act-of-2021/   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: https://www.mysolo401k.net/proposed-ban-on-ira-accredited-investments-has-been-removed-from-reconciliation-bill-build-back-better-act-of-2021/  And https://www.mysolo401k.net/good-news-backdoor-roth-and-mega-backdoor-removed-from-pending-reconciliation-bill-build-back-better-act-of-2021/   […]

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: https://www.mysolo401k.net/wp-content/uploads/2021/08/IRA-LLC-for-Precious-Metals-Investment.pdf

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 […]

ErisX (CBOE Digital) Review – How to Invest a Self-Directed IRA LLC in Cryptocurrency with ErisX (CBOE Digital)

Learn how to Open a cryptocurrency account for your Self-Directed IRA LLC at ErisX (now CBOE Digital). Please check out our Webinar with John Denza, Chief Commercial Officer @ ErisX (CBOE Digital) where we reviewed the benefits and features of the ErisX (CBOE Digital) cryptocurrency exchange as well the steps required to open an ErisX […]

The Enhancing Emergency and Retirement Savings Act Would Allow for Penalty-Free “emergency Distribution” option from Solo 401k Plans and Self-Directed IRAs

On June 1, 2021 a proposed bill (The Enhancing Emergency and Retirement Savings Act) was introduced by by Senator James Lankford (R-OK) and Michael Bennet (D-CO). The proposed bill would provide a penalty-free “emergency distribution” option from employer-sponsored retirement accounts (e.g., solo 401k) and IRAs (e.g.., self-directed IRA). The main purpose of the bill is […]

Good News: Impact of Biden’s Plan on Self-Directed Solo 401k

On May 28, 2021 President Biden released his first budget proposal under his presidency. The $6 trillion plan includes two proposals: American Jobs Plan, which addresses infrastructure, and the American Families Plan, which covers child care, paid family and medical leave. As far as retirement plans including self-directed IRAs and the self-directed solo 401k plans, […]

Crypto’s Wild Week/ Proposed IRS Reporting Rules: Time to Move to Solo 401k/IRA LLC?

Harvard Law Attorney George Blower reviews the recent US Treasury proposal to increase IRS reporting of cryptocurrency transactions.

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