Campaigning For Bishopric Not A Valid Exempt Purpose – Kent Hovind Update
It strikes me as something of a compromise between hierarchical churches where bishops are appointed and churches with extreme congregational independence. If you locked a bunch of Catholics who wanted things more democratic and Southern Baptists who wanted things more organized in a room and told them they had to agree on a governance model for the Southern Catholic Convocation, it might be what you would end up with – or not.
Using Your IRA Funds To Start A Business Is Very Risky
The draconian rules surrounding prohibited transactions seem a bit out of place when someone is messing with what is pretty much their own money and not really avoiding any taxes in the process. From a policy viewpoint I could see a paternalistic argument for discouraging retirement fund investment in speculative ventures, but the only speculative ventures that these rules discourage people from going into are the ones where they will be keeping more of an eye on things.
At any rate, the moral of this story is that you need to be extremely cautious with self-directed IRAs.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.