Peek v. Commissioner – Personal Guarantee of Loan Triggers Self-Directed IRA Prohibited Transaction

June 18th, 2013

In Peek v. Commissioner (May 9, 2013), the U.S. Tax Court ruled that a taxpayer’s personal guaranty of a loan by a corporation owned by the individual’s IRA is a prohibited transaction under section 4975(c)(1)(B).  The Court found that the taxpayers had provided an indirect extension of credit to the IRAs, a prohibited transaction under […]

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Set-up your IRA Financial Group Solo 401K Plan at Fidelity

May 7th, 2012

Want to establish a Solo 401(k) Plan at Fidelity but want more flexibility to invest in real estate, borrow $50,000, or make Roth after-tax contributions? IRA Financial Group Solo 401K Plan, is an IRS approved plan that was designed specifically for the self-employed or small business owner with no employees other than the owners(s). The […]

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