Self Directed IRAs: After Peek v. Commissioner

IRAs are a 5.4 Trillion dollar industry. Since market fluctuations in 2008 took a serious toll on IRA balances, more Americans than ever are looking to expand their IRA investment choices. The financial services industry is cranking out more self-directed IRAs (SDIRA) than ever. However, not all SDIRAs are created equally. Specifically, the May, 2013 Peek v. Commissioner decision sobered this fast growing concept and illuminated how important it is for SDIRA investors to know and play by the rules. Join attorney Frank Selden, as he assists practitioners who focus on guiding clients through the legal issues generated when clients gain direct investment control of their qualified funds. Specifically, Frank will reveal the legal issues that both attorneys and CPAs must know to properly counsel clients with SDIRAs.

Learning Objectives:

I.    Identify the three types of self-directed IRAs

II.   Work with IRA custodians

III.  Dissect prohibited transactions and effectively avoid them

IV.  Identify incomes taxable to IRAs and report them