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ROBS Prohibited Transaction Rules

ROBS Prohibited Transaction Rules

What are the ROBS Prohibited Transaction Rules? The IRS-prohibited transaction rules are not triggered in a rollover business start-up (ROBS) solution. The ROBS solution allows one to use their IRA or rollover 401(k) funds to purchase stock in a C Corporation that they are personally involved in without triggering the IRS-prohibited transaction rules.  Whereas, if […]

Correcting a Prohibited Transaction

how to correct a prohibited transaction

When correcting a prohibited transaction, you must undo the transaction so as to not be penalized, or in the case of an IRA, lose your tax-exempt account.

What are the Solo 401(k) Rules?

Solo 401(k) Rules

The Solo 401(k) rules must be adhered to in order to maintain your plan and stay IRS compliant so you maintain the freedom to invest in almost anything.

What is a Solo 401(k) Prohibited Transaction?

Solo 401(k) Prohibited Transaction

The Internal Revenue Code (IRC) & ERISA does not describe what a Solo 401(k) Plan can invest in, only what it cannot invest in. Internal Revenue Code Sections 408 & 4975 prohibits Disqualified Persons from engaging in certain type of transactions. The purpose of these rules is to encourage the use of qualified retirement plans […]

Self-Directed IRA Disqualified Persons

Self-Directed IRAs Disqualified Persons

A Self-Directed IRA allows you to make alternative asset investments with your retirement funds. In other words, it gives you more options than just traditional investments, such as stocks and bonds. However, there are IRS regulations surrounding self-directed IRAs. This includes disqualified persons. As a result, your IRA cannot perform transactions with these people (and […]

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Tax Strategies for 2024 & Beyond: How to Maximize Deductions and Minimize Penalties with Your IRA