When clients ask tax practitioners about the tax ramifications of self-directed IRAs, they need to respond authoritatively to such questions. This program provides you with the knowledge to do just that. Often, self-directed IRAs result from a client’s desire to obtain a better financial return from an unconventional investment than would be available if the account were managed by traditional investment advisors. This program is vital if you wish to understand what a self-directed IRA is, what it does operationally, the kinds of investments it can make, and the relationships the IRA account owner can and cannot have with the account.
- Why IRA owners want to self-direct their IRA
- Steps required to set up a self-directed IRA
- The advantages and disadvantages of a self-directed IRA
- What does the custodian of a self-directed IRA do?
- What sort of investments may a self-directed IRA make?
- Understanding the self-dealing rules
- New Tax Reporting Requirements
- Advise clients with respect to the tax characteristics of a self-directed IRA
- Advise clients with respect to how a self-directed IRA operates
- Understand how a self-directed IRA owner may avoid the self-dealing rules
Any tax practitioner wishing to be current on all aspects of self-directed IRAs
A basic understanding of the Federal tax rules dealing with IRAs and qualified plans