Ever wanted to start a business using a retirement plan? There’s a way to roll over plan benefits into a new business without paying taxes and penalties, but you have to be careful. Two recent cases illustrate how not to do it.
The American Taxpayer Relief Act of 2012 (ATRA-2012) (Pub L 112-240, 126 Stat 2313) allows IRA owners to make retroactive direct distributions to charity for 2012. It could be a good deal for you or your clients, but you have to act by January 31, 2013—this week!—to take advantage of it.