I was just listening to a recording of a conference call this morning where a financial planner began his presentation with this premise: Taxes will be increasing in the future I haven't listened to the rest of it because I had to pause it and write this post. I'm sure when I go back this guy will … [Read more...] about Will Taxes Increase?
Much Needed Tax Relief For 2009 Is Available, But You Must Open A Solo 401k By Dec 31st, 2009. Nabers says setting up and contributing to your Solo 401k before the end of 2009 will allow married couples to deduct up to $109,000 from their 2009 income taxes. Watch this video to learn more and pick up … [Read more...] about Solo 401k Provides Unfair Tax Advantage For Self Employed Business Owners
My new article on Forbes.com... -------------- For entrepreneurs, getting through these financially turbulent times may require some imaginative [read whole article on Forbes.com] … [Read more...] about Bail Yourself Out
Just a quick, last-minute reminder... If your IRA owns mortgage-leveraged real estate, you owe UBIT. If your IRA or 401(k) owns an active business structured as a pass through entity (such as an LLC or partnership), you owe UBIT. If your 401(k) owns mortgage-leveraged real estate AND the … [Read more...] about Tax Return for UBIT – Does your retirement plan own leveraged real estate or an active business?
This week I attended a special viewing of a new documentary, I.O.U.S.A. This film substantiates the concerns that our country's government and citizens are going broke. One of the main authorities featured is David Walker, former U.S. Comptroller General. Other notables include Warren Buffett (CEO … [Read more...] about I.O.U.S.A – Former U.S. Controller warns country's finances are unsustainable
If you talk to the average CPA, he'll tell you that UBIT is the boogeyman and is to be avoided... always. Discussing this topic with an above average CPA (such as Eric Wikstrom of Integrated Wealth Strategies) yields different advice. The Two Types of UBIT Triggered from a trade or business - if a … [Read more...] about Unrelated Business Income Tax – UBIT for Solo 401(k) & IRA accounts
Conventional Tax Strategies for Real Estate Many real estate investors boast of their tax strategy as involving one or more of the following: Depreciation - This is a tax concept where the property owner pretends that his property is decreasing in value. For residential real estate, it assumes that … [Read more...] about Self Directed IRA/401k vs. 1031 and other conventional RE tax strategies
A question I get all the time is "Can I personally mow the lawn, maintain, and/or repair properties owned by my IRA LLC?" My answer is "No" which usually creates the response "But another company said I could." First, let's summarize that the accountholder/participant of a retirement plan generally … [Read more...] about Landlording your IRA LLC's properties – Is it allowed?