Latest blog postings | Page 2 | Frank Selden Law

Latest blog postings

Mar 12 - 2020

The IRS' ROBS Compiance Project details specific concerns with ROBS arrangements.

Cannabis Companies
Mar 03 - 2020

Since the US Federal government still considers Cannabis a Schedule 1 drug, cannabis companies allowed by State law experience difficulty opening bank or financial service accounts.

Courtroom
Feb 26 - 2020

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

Feb 14 - 2020

You may not directly invest your IRA into your business.

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?

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.

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.

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

Oct 18 - 2018

Does a Rollover Business Startups (ROBS) funding structure allow someone to claim women owned business (WOB) status?

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