Recent content by TaxGuy

Under section 408 of the code, it says that if the IRA owner uses the account as security for a loan then the amount pledged will be a taxable distribution. However that applies in the situation of the IRA owner pledging the assets, not the IRA itself pledging the assets. Its a fine hair...

Hi Guys, One custodian that allows the IRA LLC is Schwab, their fees certainly don't run into the thousands, think the highest it can go is $50/year, if you have a high enough balance it is free. All you do is move the IRA to Schwab as custodian. From there you can then move the money...

Yes, it is. Better solution might be to establish a Roth 401k that comes into being 1/1/06 (happy new year!). That way you can put a lot more money in to get started. Another thing to keep in mind is that if you are young, you have to wait until 59.5 to take the money out tax free...

Zonetrooper: Congratulations on doing research in this complicated area. For the most part you are on track, a couple key points you need to watch out for. 1. If you have to personally guarantee the account you will violate the prohibited transactio rules of 4975 (for IRAs) and 4941...