Latest blog postings | Page 2 | Frank Selden Law

Latest blog postings

Inner Details Matter
Jan 30 - 2020

One attorney cautions against creating a rollover business startup (ROBS) transaction. His reason? The Peek and Fleck v.

Goose Farm
Jan 22 - 2020

You enjoyed a goose for your Dickens Christmas dinner (and leftovers) and decided that a goose farm is a good investment for your retirement dollars. What are the differences in purchasing this farm through a self-directed IRA or a rollover business startup?

Funding Your Own Business Startup
Jan 14 - 2020

ROBS (Rollover Business Startup) is a mechanism you can use to create a business with your own retirement funds. Do your goals for 2020 include starting your own business? Do you want to use some of your own retirement funds to help launch your enterprise?

Oct 29 - 2019

This is a reprint from an article posted by Leading Retirement Solutions. Their article can be found here.

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Jul 25 - 2019

Is Peek and Fleck v Commissioner a ROBS case? I recently read a blog post on an attorney website cautioning people from using a rollover business startup (ROBS) funding in light of Peek v.

Jun 27 - 2019

A 2014 bankruptcy case, In re Cherwenka, dealt with prohibited transaction claims against a self-directed IRA owner who used his IRA to invest in real estate.

Jun 20 - 2019

A new client expressed concern that he had to return profits to the 401k plan based on its percentage of ownership. Returning earnings to shareholders are allowed in the form of dividends, but not required. 

Jun 06 - 2019

Does funding your corporation with a 401K plan create ROBS salary limits for yourself? Or, are you allowed to pay yourself whatever you want?

Manage your ROBS business
May 17 - 2019

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

May 09 - 2019

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

May 03 - 2019

What is a ROBS Corporation idea worth these days? You just know your idea is worth a million dollars. You bring $100,000 from your plan into the corporation and youcontribute your $1M idea. May your corporation issue you $1M worth of stock for your idea? No.

Apr 17 - 2019

Someone called recently to ask whether I offer an audit guarantee. I informed her that I do not, then asked why she thought it necessary.

Apr 11 - 2019

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

https://www.naea.org/
Mar 21 - 2019

Last spring I taught a two-hour class on rollover business startups (ROBS) to the NW chapter of enrolled agents. I also learned a few things about enrolled agents and even something about ROBS.

Use the Tax Code to our Advantage
Feb 20 - 2019

This is a collection of wisdom gleaned from the regulations and from helping hundreds of people walk through this process.

Jan 29 - 2019

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.

ROBS Asset Purchase Diagram
Jan 18 - 2019

In an asset purchase of an existing business, the purchaser of the new business purchases the assets of the existing business. This type of purchase results in your Corp becoming the owner of the business operations.

ROBS Equity Purchase Diagram
Jan 15 - 2019

In an equity purchase of an existing business, the purchaser buys the equity away from the existing owner. This type of purchase results in your Corp becoming the owner of the existing legal entity. All liabilities transfer to the buyer by operation of law, wanted or not.

Jan 09 - 2019

A recent article on Entrepreneur touts one of the benefits of a rollover business startup as “partially fund their business ventures using their current 401(k) savings and then funnel some of their new business’ profits back into their retirement account completely free of taxes!” The author is c

Q-West, Iraq
Dec 28 - 2018

Presents under an 18” tree adorned our conference table at the office Christmas Day. Although a workday, we leisurely consumed a lunch on Christmas as grand as any back home. By time I reached the break room, only a skeleton remained of the deep-fried turkeys.

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