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Self-Directed IRA Fair Market Valuations Explained

Self-Directed IRA Fair Market Valuations Explained

An IRA must report its fair market value to the IRS annually. Fair market value is reported to the IRS by your IRA custodian via IRS Form 5498. For standard IRAs holding stocks or mutual funds, those account values are automatically determined as they simply take the...

Using the IRA/LLC option to own Bitcoin and other Cryptocurrency

Using the IRA/LLC option to own Bitcoin and other Cryptocurrency

As the price of Bitcoin (BTC) has surpassed $50,000, we have seen increased interest in using IRA and other retirement plan funds to own Bitcoin and other cryptocurrencies. But can your IRA, Roth IRA, solo(k), or other retirement account own Cryptocurrency? Yes, your...

Can My IRA/LLC Have a Brokerage Trading Account?

Can My IRA/LLC Have a Brokerage Trading Account?

Many self-directed IRA investors use an IRA/LLC to make and hold their self-directed IRA investments. In essence, an IRA/LLC (aka “checkbook-controlled IRA”) is an LLC owned 100% by an IRA. For a summary and description of an IRA/LLC, please refer to my video here....

Solo K Form 5500 Tax Filing and Five-Point Compliance Checklist

Solo K Form 5500 Tax Filing and Five-Point Compliance Checklist

Solo 401(k)s have become a popular retirement plan option for self-employed persons. Unfortunately, many plans are not properly maintained and are at the risk of significant penalty and/or plan termination. If you have a Solo 401(k), you need to ensure that the 401(k)...

Tax Planning for Bitcoin and Other Cryptocurrency Profits

Tax Planning for Bitcoin and Other Cryptocurrency Profits

Bitcoin, Ethereum, Litecoin, and other cryptocurrencies have seen dramatic price increases this year. Have you thought about cashing in? Are you wondering how will you be taxed? Cryptocurrency is a Capital Asset The IRS has clearly stated that cryptocurrency (aka...

Back Door Roth IRA Rules and Steps

Back Door Roth IRA Rules and Steps

Roth IRAs can be established and funded for high-income earners by using what is known as the “back door” Roth IRA contribution method. Many high-income earners believe that they can’t contribute to a Roth IRA because they make too much money and/or because they...

Ellis Case Answers Important Questions About IRA/LLCs

Ellis Case Answers Important Questions About IRA/LLCs

Question 1: Can my IRA own substantially all of the ownership of an LLC? Question 2: Can my IRA/LLC pay a salary to me for serving as the manager of the IRA/LLC? The U.S. Tax Court issued an opinion in the case of Ellis v. Commissioner, T.C. Memo 2013-245 and answered...

IRA Ownership of an LLC: Self-Directed IRAs and IRA/LLCs

IRA Ownership of an LLC: Self-Directed IRAs and IRA/LLCs

There are numerous laws, cases, and regulations to consider in analyzing whether your IRA can own an LLC (commonly referred to as an “IRA/LLC” or a “checkbook control IRA”). Despite the complexity of the law, your IRA can own 100% of the ownership interest of an LLC...

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