Prohibited Transactions
Do you know what a Prohibited Transaction is? Its an impermissible transaction under the Internal Revenue Code that happens between an IRA and a disqualified person. A disqualified person could be an IRA owner, spouse, or owners lineal descendants. Some examples of IRA prohibited transactions are borrowing money from or lending money to your IRA, […]
RMD Basics
If you own or are the beneficiary of an IRA, 401(K) or other retirement plan, review this to avoid an RMD ( required minimum distribution) error. Failure to take at least the RMD amount each year results in a 50% penalty by the IRS ! Photo : https://www.flickr.com/photos/stevendepolo/5437288053 Source: www.irs.gov
Dear Mr. Redford… About your tax bill…
Hello all…so a slow start to my blogging…but I see so much, I think other than by Tweets and Facebook posts and newsletters…here is a way to continue to stay in touch. Recently a came across an article which reported Robert Redford was suing New York over a $1.6 million dollar tax tab for selling […]
