jeremy rodriguez

Self-Directed IRAs and Prohibited Transactions

Wednesday, December 06, 2017
Creating a self-directed IRA is relatively straightforward. It is not a creation of the tax code, but rather stems from the investment policies of the custodian that administers the IRA account. The agreement will allow you to diversify your IRA assets across a wide range of investments that you choose. However, when investing self-directed IRA assets, it is important that you and your advisor understand the types of transactions to avoid. These transactions, called “prohibited transactions,” can lead to serious tax consequences, including the disqualification of your IRA assets.
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The Rule of 55 – An Exception to the Early Withdrawal Rules

Wednesday, November 22, 2017
If you have a 401(k) account or other employer sponsored retirement plan, you probably already know that a distribution before you reach age 59½ is going to be subject to a 10% penalty. One exception to the 10% early withdrawal penalty allows participants in a qualified plan to take a distribution from the plan after leaving the job as long as they are age 55 or older. This rule, sometimes called “The Rule of 55,” is an exception to the early withdrawal rules that generally levy a 10% penalty on amounts withdrawn before age 59 ½. This exception does not apply to IRA distributions.
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