web conference – webinars

Lexington, KY (PRWEB) January 18, 2012

Sean McKay, Vice President of Business Development at American IRA-a National Provider of Self-Directed IRAs, announces free ‘Rules of The Road’ January 24th Webinar.

Sean Mckay says “We developed this webinar to help get the word out about things that people need to avoid within their self-directed IRA so that they can properly acquire assets. The feedback we received from our first month of these webinars was so overwhelmingly positive that we have decided to continue to offer this webinar each month.”

Topics that will be covered in this webinar include but are not limited to:

*Disqualified Persons
*Self-dealing
*Conflicts of Interest
*Direct Prohibited Transactions
*Proper Acquisition of Assets
*and much more…

When Congress first designed the IRA in 1974, they built in a number of restrictions meant to forbidding IRA owners from using these vehicles to benefit themselves prior to retirement. For this reason, the following transactions are prohibited within IRAs:
*They cannot buy property from their IRA.
*They cannot sell property to their IRA.
*Their relatives, defined as ascendants and descendants and their spouses, may not buy from or sell directly to their IRA.
*Their IRA cannot engage in any of the above transactions with any entities controlled by their ascendants, descendants, or any of their spouses.
*Their IRA cannot engage in transactions directly with their accountant, financial advisor, tax attorney or anyone else who advises them on their IRA, nor with any business entity they control.
*They cannot use their IRA, nor the assets within them, as security for a loan for use outside the IRA (this rule is commonly misunderstood.)

Sean interjects, “In plain English, this means they cannot use their IRA directly for their own profited, nor that of those related to them, and their advisors cannot manipulate them into using their IRA to benefit themselves. Their IRA exists for 1 purpose only: To provide economic security for them after they turn 59