Yesterday, U.S. Federal Trade Commission announced a proposed new regulation prohibiting non-compete agreements in the workplace and requiring employers to rescind non-compete agreements currently in place.
Question: I have a significant balance in my individual retirement account. Can I use my IRA to purchase real estate?
Answer: You can purchase real estate from your IRA. Various requirements must be satisfied to comply with IRA real estate purchases, however, and the failure to adhere to the requirements can be costly from a tax perspective.
Question: I am contemplating selling my vacation home which my family uses for personal purposes and also rents to third parties. If I purchase a new vacation home, can I defer the recognition of gain on the sale through a tax-deferred exchange?