We’ll be doing a webinar with Hanover Companies on tonight (March 28th) at 7 pm PDT, and tomorrow (March 29th) at 12 noon PDT. You can check the times and click a link to register with the webinar at the end of this post. The reason we’re doing the webinar with them is that they’ve [...]

Now that we’ve covered some terrain in the prohibited parties area, let’s look at some examples of how this would play out in real life.  Reading through the tax code can, and generally does, give one a headache, so let’s go through how this might actually work. In one of my favorite movies “A Philadelphia [...]

Part I of this series we defined a prohibited transaction, and in Part II we looked at who the disqualified persons are to your Check Book IRA ™ LLC.   Next, we’ll look at disqualified entities.  This is a bit trickier and is more involved than figuring out who the disqualified or prohibited parties, so [...]

If you read Part I of this series, you now know what constitutes a prohibited transaction.  You know that any deal or transaction of any kind between a plan and a disqualified person is a prohibited transaction.  Super.  But what is a “disqualified person”? Let’s look at 26 US § 4975 (e)(2): (2) Disqualified person For [...]

Clients will often ask me what I think is the most important thing for them to learn before they have us set them up with a Check Book IRA ™ LLC. I always answer that knowing what constitutes a prohibited transaction is by far the most important. It can sometimes seem a bit confusing, especially for [...]