In 2022, the Financial Crimes Enforcement Network (FinCEN) issued a rule allowed under the Corporate Transparency Act (2021) that requires beneficial ownership information reporting for certain companies and entities. Beginning in 2024, companies and organizations that are not exempt must report their beneficial owners to FinCEN. Why was this rule issued? These new rules are … Read More
Beginning in 1998, the tax code allowed for a new type of retirement account called a Roth IRA. Senator Henry Roth proposed a new type of retirement account that would allow a taxpayer to pay income tax before making a retirement plan contribution, and in return the account could not only grow tax free (both … Read More
You’re likely familiar with the concept of taking out a loan, but did you know you can invest in private lending and hold promissory notes with your retirement account? While you cannot borrow money from your own IRA, just about any other non-disqualified person or business can. A loan from your tax-advantaged plan is no … Read More
The world of retirement planning is poised for significant changes with the implementation of the SECURE 2.0 Act. This legislation is an extension of the original SECURE Act, which introduced a host of provisions designed to enhance retirement security for Americans. While some provisions were implemented in 2023, there are a few that take effect … Read More
Interest rates are a critical tool in the Federal Reserve’s arsenal for managing the economy. But when the rates change, what does that mean for your investments? As an investor, it’s important to understand why the Fed raises or lowers rates and the relationship between interest rates and alternative investments. So why Does the Fed … Read More
Many people have never heard of self-directed IRAs, and while they aren’t a secret, there are plenty of myths and misconceptions surrounding them. With so much information readily available across trusted and not so trusted sources, it’s hard to determine what’s true and what’s just noise. We’re here to help set the record straight when … Read More
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