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Self Directed IRAs: After Peek v. Commissioner

(567 Ratings)

Produced on: October 14, 2013

Course Format On Demand Audio

Taught by

Categories:

Course Description

Time 120 minutes
Difficulty Intermediate

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

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

DO
David O.

Very detailed program. Extremely helpful.

MS
MARTHA S.

Frank is terrific and really knows his material.

GS
Gary S.

very specialized and even beyond the scope of the average tax practitioner.

HG
Henry G.

Excellent course.

RG
Richard G.

complex subject well presented

FL
Frank L.

t mastery of topic and well delivered

SP
susan p.

well done!

DS
Daniel S.

This is part of a great series of presentations

RD
Robert D.

Highly relevant

JP
james p.

Very informative program!

TF
Troy F.

Excellent presentation.

RB
Robert B.

Specialized expertise indeed!

AP
Amy P.

superb presenter

CK
Clifton K.

Very professional

PB
Paul B.

excellent presentation

KS
keith s.

He is a talented speaker amd was able to communicate the complicated material in an understandable fashion

RK
Ralph K.

Very informative!

PV
Patavee V.

Excellent presentation. Thank you for both slide handout and detailed outline. Thank you also for specific practice pointers for attorneys. Would appreciate more content on self-directed IRAs as well as from this presenter.

WR
William R.

excellent could have used another hour to cover materials

TW
Tom W.

Excellent presentation!

JH
James A. H.

might consider splitting program into 2 separate segments

MR
Marguerite R.

very helpful, practical insight into an area filled with potential minefields

TT
Thomas T.

Excellent presentation on difficult topic

HT
Hope T.

Very informative

WH
Wil H.

Interesting to learn nuances of IRA taxation on uncommon investments.

JL
Joseph M. L.

Interesting

SP
Shawn P.

That was awesome: clear, concise, well illustrated by example. Thanx!

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