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Advising Self-Directed IRA Clients: Case Updates

(1017 Ratings)

Produced on: September 05, 2014

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 120 minutes
Difficulty Intermediate

Recent developments in tax law focus on three major tax cases pivotal to self-directed IRAs: 

  • Peek and Fleck v. Commissioner
  • Ellis v. Commissioner
  • Gist v. Commissioner

The first two opinions discuss the important issues pertaining to reporting hard to value assets while the 2014 opinion discusses the new reporting requirements in 2014. Join attorney Frank Selden as he analyzes these cases and provides case studies to highlight the primary issues involved in self-managing one’s qualified funds through an IRA. This course reveals the latest pitfalls that both attorneys and CPAs must know to properly counsel clients with SDIRAs.

 

Learning Objectives:

I.    Identify key issues in the Peek, Ellis and Gist cases

II.   Understand prohibited transactions and effectively avoid them

III.  Recognize incomes taxable to IRAs and report them

IV.  Know the new reporting requirements beginning with reports for 2014

 

 

 

Faculty

Frank Selden

Frank Selden Law, PS

Frank focuses his practice on Rollover Business Startups, Self-Directed IRAs and Solo-Ks, and estate planning for business owners. Prior to law school he worked in banking and insurance. Frank is also a Judge Advocate in the Washington Army National Guard. He served two tours in Iraq. While some say he is an expert at self-directed retirement planning, Frank prefers to say his experience is active listening and creative thinking.

To ask Frank "what do you do with your free time" results in a blank stare. He is happily married. He and his lovely wife Barbara have 6 children and 4 grand children. Frank sometimes disappears for walks with his goldendoodle Loki or on a golf course.

Education:

  • University of Washington, B.A. in Psychology and Political Science, 2000
  • University of Washington School of Law, J.D. 2003
  • Novus University , LL.M. in Taxation 2005

Reviews

PG
Paul G.

Great!

SB
Susan B.

giving the worst case scenarios was a neat approach and very illuminating

CA
Cellestine A.

it was interesting

MP
Matthew P.

It was brief and correctr. Good Job!

DB
Dwight B.

great

CO
Chukwuka O.

Great class!

AS
arthur s.

saved me from making mistakes in this area of law.

CT
Clayton T.

Good one

CH
Christine H.

good work on dry subject.

DS
Daniel S.

Great presentation

JP
James P.

This speaker was topnotch. (And His shirt nicely balanced his reserved approach.)

MM
Marilyn M.

It was an informative seminar

KU
Kristina U.

Thanks for the education!

DH
Dorothy H.

A very difficult content made understandable. Thank you

MM
Michael C M.

Thorough

SS
Susan S.

He was excellent.

SC
Stephen C.

not really my area but still very informative

DU
Daniel U.

Great topic

WH
Wendy H.

Good seminar, good questions at the end

AK
Amy K.

Best yet!

TF
Troy F.

As with prior work this presenter has done, I've been quite pleased with this presentation. Well done.

RW
R J W.

Great presentation.

WY
Wendy Y.

excellent

JC
Joshua C.

Excellent course. Lots of good information on current state of the law and things to prepare for for next year.

AS
Allan S.

One of the best LawLine courses ever.

PW
Pamela W.

Great presentation.

DB
Daniel B.

Very good coverage

VE
Virginia E.

A well-prepared presentation and thorough presenter.

BG
Brenda J. G.

Interesting subject matter and excellent presentation.

BG
Barry G.

Great presentation for someone with or without a tax background. I enjoyed it thoroughly.

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