
EP.82 HUGE CHANGES TO IRA'S AND 401 K'S - NEW LAWS IN AFFECT
Directed IRA Podcast
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401ks - The Death Penalty for a Prohibited Transaction?
A prior version of this bill that passed the house overwhelmingly had a fix on the prohibited transaction rules for those of us that self-direct. That was fixed in the house bill, but when this got to the final sausage making, what happened, I don't know, someone on the Senate side, some people fought this, and the outcome was that got axed. So we had the same prohibited transaction rules, essentially. There's no fix on the prohibiting transaction penalty. We call it the death penalty for committing a prohibited transaction. You lose the whole day account. It just makes you clean house more often. You just got to fire those employees that are dead weight. Did I just say
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