Tax

BREXIT = increase in Self-Directed IRA market?

Recent News, Self Directed IRA, Tax, ,

Unless you have been out hiking somewhere (and/or trying to enjoy the start of summer), you probably know that the United Kingdom has voted to leave the European Union (an event that has been termed “BREXIT” – as in “Britain Exit”).  In less than 24 hours, this event has already caused considerable shock to global stock … Continue reading BREXIT = increase in Self-Directed IRA market?

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IRS attempting to better track disregarded entities (e.g., one member LLCs)?

Recent News, Self Directed IRA, Tax, ,

Below is a headline from today’s tax updates by Thompson Reuters “Checkpoint Newsstand” related to potential IRS changes to tax forms in order to better capture income that is being reported to “disregarded entities”.  Before reading the headline, I wanted to provide some background and share my personal experience in this area. Over the past … Continue reading IRS attempting to better track disregarded entities (e.g., one member LLCs)?

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Higher Taxes Don’t Scare Millionaires Into Fleeing Their Homes After All – Bloomberg

Estate Planning, Recent News, Tax

If you raise rates on the rich, will you lose them to other states?  A study of 45 million IRS records suggests it doesn’t work that way. The researchers analyzed 45 million tax records, covering every filer who reported income of at least $1 million in any year from 1999 to 2011, and found that the rich are in … Continue reading Higher Taxes Don’t Scare Millionaires Into Fleeing Their Homes After All – Bloomberg

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Upcoming presentation: Drafting IRA Trusts (June 20)

Estate Planning, Self Directed IRA, Tax, ,

Just a quick “FYI” that I will be one of several speakers at an upcoming National Business Institute (NBI) seminar entitled “Drafting IRA Trusts“.  The seminar will be conducted at the Washington State Convention Center on Monday, June 20, 2016, from 9:00am-4:30pm PST.  An outline of my portion of the seminar is below: Using Self-Directed … Continue reading Upcoming presentation: Drafting IRA Trusts (June 20)

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Death & Taxes Newsletter (Dec. 2015) – Self-directed IRA and Estate Planning Updates

Estate Planning, Recent News, Self Directed IRA, Tax, , , , , ,

Happy New Year!  In case you missed it (or are not on my subscriber list), please read my latest newsletter, Death & Taxes (December 2015).  This edition includes information regarding: (1) A second/pending US Government Accountable Office (GAO) report on “self-directed” retirement accounts (e.g., IRAs, 401(k), “ROBS”) that invest into “nontraditional” assets – e.g., real … Continue reading Death & Taxes Newsletter (Dec. 2015) – Self-directed IRA and Estate Planning Updates

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2016 Estate Tax Update

Estate Planning, Recent News, Tax, ,

Federal Estate Tax, Gift Tax, and Generation-Skipping Tax (GST) Exemptions For 2016, the federal estate and gift tax exemption is $5,450,000 million per individual.  This is an increase over the 2015 exemption, which was $5,430,000 per person.  This means an individual can shield up to $5.45 million from federal estate and gift tax and a married … Continue reading 2016 Estate Tax Update

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Amended FORM 5498 reporting requirements for IRA custodians in 2014. Do changes signal more scrutiny on “nontraditional” investments within self-directed IRAs?

Self Directed IRA, Tax, , , , , ,

The current draft instructions for the 2014 version of Form 5498 reflect a change in the way the IRS receives information from IRA custodians. Under current law, IRA custodians must report certain information about every IRA they hold – this is done using Form 5498. Whether IRA account holders realize it or not, the federal … Continue reading Amended FORM 5498 reporting requirements for IRA custodians in 2014. Do changes signal more scrutiny on “nontraditional” investments within self-directed IRAs?

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