Speak with a Broad specialist:
(800) 395-5200Schedule a CallOpen an Account
Speak with a Broad specialist:
(800) 395-5200Schedule a CallOpen an Account

IRS Rules and Regulations

In order to keep the tax-advantaged status of your Checkbook IRA, you must follow the rules that the IRS has set in place. Learn about IRS tax tips, prohibited transactions, UBIT (Unrelated Business Income Tax), UDFI (Unrelated Debt Financed Income), and more so you can have a smooth journey to retirement.

What is UBIT?

You may have heard the term UBIT, but you’re not sure what it means, and if it will apply to your investment.   What is UBIT?  UBIT, which stands for “Unrelated Business Income Tax,” is a tax that is charged for running an active business as part of your tax-advantaged retirement account.    When does UBIT Apply?  […]
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September 30, 2022

2022 Tax Tips from the IRS 

Tax season is in full swing, and the deadline is swiftly approaching. As you begin to finalize your filings, we compiled a few important IRS tax tips and reminders that may affect your tax preparation. If you’re interested in learning more, feel free to check out the IRS Newsroom and IRS Tax Tip Archive.   IRS […]
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Contribution Limits

As of 2023, people 50 and under can contribute $6,500 in an IRA. The amount individuals over 50 can contribute is $7,500. The limit for SEP IRAs is $66,000.For Solo 401(k)s the limit is $66,000 (under 50) and $73,500 (over 50). Whether you’re permitted to contribute the maximum, though, will be determined by your self-employment […]
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5500-EZ FAQs

When does a Solo 401(k) need to file a 5500-EZ? If the total of the Solo 401(k) plan assets, (and the assets of all other plans maintained by you or your business,) exceed $250,000 at the end of the plan year, you are required to file Form 5500-EZ. The end of the plan year is […]
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What is Tax-Deferred Investing

The defining characteristic of any retirement investment is the fact that the investor realizes a tax benefit because of it. In exchange for putting aside money that will help fund your retirement, the government is willing to give you a tax incentive. For standard retirement plans this incentive comes in the form of a tax […]
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What is UBIT in a Self Directed Real Estate IRA?

UBIT Definition UBIT stands for Unrelated Business Income Tax. This is a tax that applies to the profits of an active business owned by a Self-Directed retirement account. Most investors never run into it, because the types of investments favored by the Self-Directed platform are normally passive in nature and thus are tax deferred, (or […]
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Divorces often see a division of assets. Bank accounts, cars, and homes are subject to a fair and equitable distribution. However, what many people don’t realize is that retirement assets are also available for distribution. The ex-spouse may be designated as an Alternate Payee and receive up to 50% of the retirement funds. Here’s what […]
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How Marriage Affects Your Taxes and Retirement Planning

With the weather warming up and a few covid restrictions being lifted, wedding season is in full bloom. Along with choosing the right cake and flowers, newlyweds should be aware of how saying “I Do” affects their tax situation and retirement planning. Here’s a checklist for newly married couples: Update Name and Address Name - […]
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Phone: (800) 395-5200

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