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ADMAIL Episode 139 | Correcting a Missed 60-Day Rollover | Client Q&A
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In this week's episode, IRA Financial's Adam Bergman Esq. answers questions about contributing to a Solo 401(k) when an S Corp reports a loss, where to set up an LLC for real estate, and correcting a missed 60-day rollover.
New episodes released every Friday!
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About IRA Financial:
IRA Financial was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions.
IRA Financial is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial does not provide legal services. No attorney-client relationship exists between the Client and IRA Financial Group, its management, salespersons, or IRA Financial’s in-house legal counsel. IRA Financial provides IRA retirement facilitation service and CANNOT provide Client with legal, investment, or financial advice. Prior to making any investment decisions, please consult with the appropriate legal, tax, and investment professionals for advice.
IRA Financial is not engaged in rendering legal, accounting or other professional services. If legal advice or other professional assistance is required, the services of a competent professional person should be sought. (From a Declaration of Principles jointly adopted by a Committee of the American Bar Association & a Committee of Publishers and Associations.). The scope of Professional Services does not include the costs of any custodian related services.
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TIMESTAMPS
0:00 *Intro
1:16 *Question 1: I have an S Corp that had a loss in 2022 but I took a W-2; can I still make contributions to my plan?
2:41 *Question 2: I want to set up an IRA LLC to buy real estate in Colorado. Should I set the LLC up in CO or another state, such as Wyoming?
5:53 *Question 3: I took a 60-day IRA in-kind distribution and missed the 60-day deadline – what can I do to prevent tax and penalty on the money I took from my IRA?
10:25 *Outro
New episodes released every Friday!
--
--
About IRA Financial:
IRA Financial was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions.
IRA Financial is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial does not provide legal services. No attorney-client relationship exists between the Client and IRA Financial Group, its management, salespersons, or IRA Financial’s in-house legal counsel. IRA Financial provides IRA retirement facilitation service and CANNOT provide Client with legal, investment, or financial advice. Prior to making any investment decisions, please consult with the appropriate legal, tax, and investment professionals for advice.
IRA Financial is not engaged in rendering legal, accounting or other professional services. If legal advice or other professional assistance is required, the services of a competent professional person should be sought. (From a Declaration of Principles jointly adopted by a Committee of the American Bar Association & a Committee of Publishers and Associations.). The scope of Professional Services does not include the costs of any custodian related services.
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TIMESTAMPS
0:00 *Intro
1:16 *Question 1: I have an S Corp that had a loss in 2022 but I took a W-2; can I still make contributions to my plan?
2:41 *Question 2: I want to set up an IRA LLC to buy real estate in Colorado. Should I set the LLC up in CO or another state, such as Wyoming?
5:53 *Question 3: I took a 60-day IRA in-kind distribution and missed the 60-day deadline – what can I do to prevent tax and penalty on the money I took from my IRA?
10:25 *Outro
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