Latest blog postings | Frank Selden Law

Latest blog postings

Manage your ROBS business
Nov 25 - 2020

This is part two of a two part article on ROBS setup issues. Click here for part one.

Nov 04 - 2020

This is part one of a two part article on some things to consider when creating a ROBS setup.  

Oct 25 - 2020

ROBS and SDIRA clients face the same initial decision, where to incorporate their corporation or LLC. I recommend that, absent a clear and convincing reason to pick a different State, choose your home State. Here are some factors clients want to look at before making a final decision.

Jun 02 - 2020

If two unrelated people create a ROBS funded corporation together, what happens to the plan stock if one of them passes away?

May 26 - 2020

May you invest your IRA into your own business? Only if that business is not a "disqualified person" (DP). If the IRS reviews the transaction and determines that the business is a DP, then the transaction is prohibited, potentially disqualifying the entire IRA.

May 22 - 2020

What is a true ROBS upside to you? In our last post, we looked at the downsides. Now, let’s look at what works well about creating a business with ROBS funding.

Choosing Your Plan Admin
May 19 - 2020

Investing your retirement funds into your own business provides several key advantages or upsides which I will in the next post. This post covers the risks, the downsides to adopting a ROBS strategy. The downsides can be mitigated by the way your ROBS setup is created. 

May 15 - 2020

Although the name ROBS includes the word Startup, the concept can be used for existing business financing. Here’s how.

May 12 - 2020

The tax changes for corporations passed in 2018 a great year to start your ROBS funded corporation! Why? Glad you asked! Here are the Selden notes. Like Cliff notes, except my name isn’t Cliff, and he is already using that name for his notes.

May 08 - 2020

Does the IRS recognize self-directed IRAs? According to IRS Pub 590-A, the different types of IRAs are:

May 05 - 2020

Does your ROBS plan allow alternative 401K investments? A new client came to with an existing ROBS plan created by one of the big promoters. He wants to invest funds from his plan into a privately held LLC. The promoter told him he could not make that investment.

May 01 - 2020

So you want to buy a Yacht with your IRA. Awesome! I can show you how to do that. We set up a manager-managed LLC in your State of choice. The Member, your IRA, will appoint you as the manager.

Apr 28 - 2020

Yes, you may use a Trust to manage your self-directed IRA’s assets. This article attempts to clarify what works and what doesn't work for an IRA to use a trust as its investment vehicle. This is a relatively unknown concept. Internet search results for “IRA Trust” may confuse you.

Apr 23 - 2020

Navigating the IRS audit process looks as complicated as, oh, following a flow chart that seems to loop just as you think you are nearing completion.

Apr 21 - 2020

The purpose of a DOL audit is not to rehash past mistakes but to look at past events with a view toward improving future performance.  Findings from an audit can be used as a basis for adjusting policies, priorities, structure, or procedures in order to make operations as efficient, economical, a

Apr 17 - 2020

Why should self-directed IRA clients use a Wyoming LLC? As Nevada fades in the #1 State slot to create an LLC, many clients look to Wyoming for the best benefits. If you want to read the WY LLC rules, click here. Most of our clients create LLCs for their IRAs in their home State.

Apr 13 - 2020

Plan Administrators require year-end valuations of all plan assets. Most of my clients’ plans only contain stock in the sponsoring corporation so this is a straightforward, albeit important, task. Some plan admins do not provide any guidance on creating that valuation.

Mar 27 - 2020

Contracting issues create a unique opportunity for Engineers (and similar professions) to use a Rollover Business Startup (ROBS) to land important contracts. Some of my clients leave firms to launch out on their own. Their goal is to work as a consultant.

go for the WIN
Mar 24 - 2020

A caller inquired about whether I believe our current economic uncertainty is a good time to initiate a ROBS setup. Here are three reasons why this could be a great time to start a business with your own retirement funds and one reason to hold back. He decided to move forward. Here's why.

Mar 20 - 2020

The acronym ROBS was created by the IRS in 2008  to refer to a business funding arrangement that existing promoters marketed under different names.

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