The Domestic International Sales Corporation (or DISC) was created by the U.S. Congress to encourage the export of U.S.-made goods through the tax law. Shareholders of a DISC receive reduced income tax rates on qualifying income from such exports.
One of the nice features of a Roth IRA is that it can have an interest in a DISC and, as a result, reap some substantial benefits. To find out more, read my brand new article titled Tax Tips: Roth IRA Owns a Domestic International Sales Corporation (DISC).
Three ways our fact-filled article can help you:
- We’ll explain the important tax implications of the Hellweg case. The Hellweg case involved four taxpayers who owned a controlling interest in a DISC through their Roth IRAs. They went to court to defend the tax benefits they received. To get the details, read the full article.
- We’ll tell you what concerned the IRS. The IRS argued that the transactions, while valid for income tax purposes, lacked substance for excise tax purposes (the penalty tax on excess Roth contributions). You’ll find out more when you read the full article.
- You’ll learn more about self-directed IRAs and what they can do for you. We’ll provide you with a link to valuable information when you read the full article.