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Category Archives: Tax Education

IRA myth debunked: IRAs are always tax free

Choosing the right type of IRA for your individual situation is one of many decisions you must make among the bevy of decisions related to individual retirement investing. Unfortunately, many that begin the process of opening an individual retirement account are confused by the opposing terms “tax-deferred” and “tax-free.” A common IRA myth is that […]

GUEST POST: The Thiessen Tax Court Case – Loan Guarantees Create Prohibited Transactions and Other Lessons

By John Hyre The following guest post is a commentary by John Hyre about the recent Thiessen v. Commissioner case in United States Tax Court involving a prohibited transaction. The case centered on a prohibited transaction specific to IRC 4975(c)(1)(B), or any direct or indirect “lending of money or other extension of credit between an […]

New eligibility rules for small creditors 

Investing in private lending secured by real estate is a popular method of investing with Self-Directed IRAs. The Consumer Financial Protection Bureau (CFPB) has recently updated its regulatory implementation page with a couple of resources related to loans secured by mortgages. If your IRA makes loans secured by real estate, you may want to discuss […]

5 Things to Consider About Filing Taxes Late

Retirement accounts and taxes go hand in hand. In fact, taxes are a huge reason why someone chooses a specific account (i.e. Traditional or Roth), and reducing one’s tax burden at retirement is a leading focus among IRA holders. Unfortunately, there are times when a taxpayer simply cannot pay his or her taxes on time. […]

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