A self-directed IRA places the investor in charge of making all investment decisions and allows a greater opportunity for asset diversification outside of the traditional stocks, bonds and mutual funds, such as real estate and private tax liens. All securities and investments in a self-directed IRA are held in an account administered by a custodian or trustee. According to IRA expert, Natalie Choate, the IRS is on a “warpath” against self-directed IRAs and has succeeded in disqualifying business-owning IRAs for routine business activities such as compensating the owner for services. Also, the IRS has eliminated an IRA owner’s personal guarantee of loans to an IRA-owned business. (Natalie’s Notes, Vol. 17, No. 1. Summer 2016). Those who have or are considering a self-directed IRA need to be very careful as the IRS has them in its sights.
The health care debate has been in large part characterized by rhetoric and misinformation with little discussion on how the House’s American Health Care Act would actually impact states. The Congressional Budget Office – with its poor track record of analyzing proposed legislation – estimates that it would cut Medicaid spending by $800 million over […]
The cost estimating website “Howmuch” has released estimates for the cost of long term care in each state. The report examines costs for adult day care, home health aides, assisted living and nursing home care. Michigan while expensive, is fortunately is not at the top of the list for any category. For a month in […]
While Medicare generally provides health insurance coverage for those 65 and older, few people are aware of what is not covered by Medicare or how these costs can be quite high. Medical costs such as dental, vision, hearing, long term care services and other out of pocket expenses are not covered by Medicare. According to […]