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17 Cards in this Set
- Front
- Back
Rule 144
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Regulates sale of control/restricted stock. - Restricted/Non-affiliated = 6 mth, no limit - Restricted/Affiliated = 6 mth, vol limit - Control/Affiliated = no hold, vol limit vol limit = 1% out. or 4 week avg every 90 days |
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Rule 147
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Intrastate offerings. - Offering in one state exempt if issuer: has office, >= 80% income, >= 80% assets, use >=80% proceeds, b/d in state - Purchaser may not sell to other state for at least 9 months |
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Regulation A+
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Small size offering in a 12 month period. Provide offering circular or notice of sale. - Tier 1: <= $20mm, <= $6mm from existing - Tier 2: <= $50mm, <= $15mm from existing Tier 2 must be "qualified", accredited or invests less than 10% of net worth or income (greater) |
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Regulation D
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Private placement. - May be made to <= 35 non-accredited investors with NO advertising to anyone - Or to accredited investors Must have same information as if prospectus |
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Accredited
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Net worth >= $1mm excluding primary residence. Or income >= $200k for single, $300k for joint
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Rule 144a
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who have >= $100mm in assets |
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Charitable donation of securities
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Donator may deduct market value at time of donation |
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Gifting of securities
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For gift-tax purposes, market value at time of donation is used. Recipient's cost basis is original cost basis |
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401(k)
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Qualified salary reduction plans |
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Qualified retirement plans
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- Contributions tax deductible - Plan approved by IRS - Cannot discriminate - All withdrawals taxed - Plan is a trust |
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Non-qualified retirement plans
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- Plan does not need approval by IRS - Plan can discriminate - Withdrawals taxed on excess over cost-basis - Plan is not a trust |
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Spousal IRA
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Individuals with non-working spouse, filing jointly, can contribute twice the allowable limit, split between two accounts. |
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Ineligible IRA
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Practices: shorts, speculative options, margin Munis are inappropriate |
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IRA Rollovers |
Qualified to qualified rollover can be done once a year and funds must be deposited within 60 days of withdrawal |
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Roth IRA |
No required distributions at 70.5 years |
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Coverdell
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