Learn The DOs And DON’Ts Of Using IRAs And Other Retirement Plans In Trading Activities (Recording)

30 Jul

Jul 30, 2013 at 4:30 pm EST


Host: Robert A. Green, CPA

Panelists: Employee Benefit Attorneys Richard Matta of Groom Law Group, and Louis Barr of counsel to GreenTraderTax.

Alert! Many traders may be triggering IRS excise-tax penalties for prohibited transactions including self-dealing, and/or UBIT taxes by using their IRAs and other retirement funds to finance their trading activities and alternative investments in problematic ways. One example of this type of trouble may be the “IRA-Owned LLC” or trust trading account. In many cases, traders also risk losing tax-exempt status on their retirement plans. This content is a serious warning to stay clear of trouble, not just a technical discussion of quirky rules.

Traders are increasingly tapping into their IRA and other retirement funds to finance their trading and investment plans. This trend has been growing since the 2008 financial crisis when many taxable accounts melted down, and proliferating rapidly this year.

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Dear Adam, Robert & Darren, I would like to draw attention to the fine work performed by Rachel Ellis.  Not only is her tax knowledge proficient but also her talent for managing clients is exceptional.  As a former Wall St. analyst charged with responding to many different clients' needs - typically always simultaneously -- I know how demanding that aspect can be.  Rachel is always patient, good humored and responsive. I hope that she -- and all of you -- can find some time to relax after the tax season. Best regards,