Article Date:
August 2011


Word Count:
416

 

 

Roth IRA Owns Foreign Sales Corporation


Michael Ohsman owned 100 percent of a C corporation that was in the hide trading business.

 

He also established a Roth IRA. The Roth IRA purchased all the previously unissued stock of a foreign sales corporation (FSC). In other words, the FSC was a new corporation and the FSC was the first and only shareholder.

 

The C corporation made commission payments to the Roth-owned FSC in the amounts of $104,896, $3,152,714, and $3,585,712, respectively, for years 1, 2, and 3 at ... Log in to view full article.

Log in to view full article
Already a subscriber?
 
Email Address

 
Password

Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee