Certain transactions aren't permitted for Roths and IRAs. They are called "prohibited transactions", and can be subject to penalties. In this post, I'm going to focus on prohibited transactions. I am only going to hit some highlights so you will be aware of some red flags.
The interview on Financial Insider Weekly scheduled to be broadcast in San Jose and Campbell, California is with John Herzog, First Vice President of Valley Community Bank about Small Business Financing. The show will be broadcast on Comcast channel 15 on Wednesday, March 10 at 4:30 p.m. Pacific Time in San Jose and Campbell and shown as streaming video at the same time at www.creatvsj.org.
Chabot College in Hayward has agreed to broadcast Financial Insider Weekly on Sundays at 5 p.m. and Thursday at 10 p.m. Pacific Time. The broadcasts will be on Comcast Channel 28 in Hayward, Alameda and Fremont, California.
This week's Financial Insider Weekly interview is with Financial Planner David Beck of Bay Area Planners. We discuss Financial Aid and Non Tax Issues for Financing a College Education.
It's easier to say what can't be held than what can be held in a Roth or IRA. You can't hold collectibles or life insurance contracts in a Roth or IRA. Roths and IRAs aren't permitted shareholders of S corporations, except for bank stock held on October 22, 2004, so S corporation stock generally is not a permitted investment for a Roth or IRA.
Many people aren’t aware that “tax exempt” entities, including charities and retirement plans, are subject to income taxes on certain types of income, called “unrelated business income.” How to apply the tax rules for unrelated business income is one of the more complex sections of the income tax laws.
Stock acquired using a stock option can't be contributed to an IRA or Roth. According to Internal Revenue Code Section 219(e)(1), contributions, except for rollover contributions, must be in cash.
On this week's Financial Insider Weekly interview scheduled to be broadcast in San Jose and Campbell, College finacing expert David Beck CFP(R) discuses using tax benefits and student loans to finance a college education.
David Beck Financial Insider Weekly interview on Financial Aid For College Education rescheduled for broadcast in San Jose and Campbell on March 3.
Community Television of Santa Cruz County will begin broadcasting Financial Insider Weekly on Thursday evenings at 5:30 p.m. tomorrow, February 18, 2010. The show will be broadcast on Comcast Channel 27 in Santa Cruz County and on Charter Communications Channel 73 in Watsonville and Capitola.