High Price of Disqualification

Slott, Ed
January 2014
Financial Planning;Jan2014, Vol. 44 Issue 1, p63
The article discusses a U.S. Tax Court ruling involving prohibited transactions within the individual retirement account (IRA) of a client. It outlines brief details of a case which involves client Darrell Fleck, lawyer Lawrence Peek, and certified public accountant (CPA) Christian Blees who planned on using their IRA to acquire assets of Abbott Fire Safety. The need for investment advisors to warn clients against using their IRA for buying shares within their own firm is emphasized.


Related Articles

  • Chapter 6: Your Portfolio.  // Complete Guide to IRAs & IRA Investing: Wealth Building Strategi;2009, p123 

    Chapter 6 of the book "Complete Guide to IRAs and IRA Investing: Wealth Building Strategies Revealed" is presented. This chapter presents information on the employees' portfolio or the list of all their investments. Taxable accounts and assets like real estate or businesses may be included in...

  • Time to get personal. Boffey, Graham // Corporate Adviser;Jul2008, p17 

    The article presents an advice from Norwich Union corporate and consumer distribution director Graham Boffey regarding the recommended pension plan in Great Britain. He cites that the introduction of personal account and national pension scheme in 2012 is perceived to provide an opportunity as...

  • UP FRONT AND PERSONAL. Greenwood, John // Corporate Adviser;Jul2008, p18 

    The article profiles Personal Accounts Delivery Authority (PADA) chief executive Tim Jones in Great Britain. According to the article, Jones is responsible for the introduction of personal accounts in the market which he describes as a sensible portfolio that offers an interaction between state...

  • Who Says We Can't Handle Private Accounts? Updegrave, Walter // Money;Apr2005, Vol. 34 Issue 4, p78 

    The article discusses whether individuals can be trusted to invest a portion of their Social Security payroll taxes. As the debate over Social Security and private accounts heats up, one big concern is clear: Some people believe that individuals like you and me just are not up to the task of...

  • Apocalypse Averted: Now What? Evensky, Harold // Journal of Financial Planning;Jan2010, Vol. 23 Issue 1, p32 

    The article presents different articles that offer tips and guidance on how to improve one's portfolio design and implementation strategies in the U.S. The article "How to Kill a Black Swan," by Remy Briand and David Owyong, offers a reminder on the extreme events, characterized by volatility...

  • Making the most of Your 401 (k) Plan. Charney, Douglas // Practical Accountant;Apr2007 Supplement, Vol. 40, p26 

    The article offers suggestions on the management of the 401(k) plans. It is suggested that for each mutual fund considered, it is significant to read the prospectus carefully. It is also significant to evaluate investment risk with an eye on the time planned before retiring. Moreover, it is...

  • Here to Stay. Reinhart, Len // Financial Planning;Feb2002, Vol. 32 Issue 2, p103 

    Part II. Discusses how investors can keep the professional management and diversification they learned to value through their mutual fund experience by using individually managed accounts. Way to reduce the erosive effect of taxes on portfolios; Implications of the value of tax-deferral for...

  • Get More from Your IRA. Weil, Henry // Money;Dec1999, Vol. 28 Issue 12, p68 

    Offers information on how you can lengthen the schedule of mandatory withdrawals from an Individual Retirement Account by adding a beneficiary's life expectancy to yours. Background on the minimum withdrawals that must be taken from a tax-sheltered account; Restrictions that apply; How your...

  • 401(k) portfolio management options gain popularity. Shutan, Bruce // Employee Benefit News;4/15/2003, Vol. 17 Issue 5, p32 

    Reports on the value and popularity of 401(k) portfolio management options in the U.S. as of April 15, 2003. Reputation of 401(k) funds; Status of managed account options in the market; Benefits from third-party management of 401(k) plans.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics