The IRA holder, their spouse, their children, grandchildren, and parents are all considered related parties. t play by the rules, you could face an unexpected tax bill. In a traditional individual retirement account, you will not pay taxes on the income you invest when you put the funds into the account. Not all financial experts are created equal, consider shopping around for investment firms and understand that their transaction fees can vary from $5 per transaction to a percentage of the amount being sold or bought. You just have to go after a small number of other rules.