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Is your retirement going the wrong way?
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Want to Learn MORE? Enter the Check Book IRA Classroom |
WHY YOU NEED THIS MORE THAN EVER The fact that you have a retirement account proves that you have worked hard, taken charge of your life and probably have some expertise in one or more areas. But 97% of all IRAs are in the control of custodians/brokers that decide for you what your IRA should invest in. Here’s a quote from one ad for brokerage firm, “We make all the investment decisions for you”. Wow, you work your whole life to build up a nest egg and a stranger makes all your investment decisions. Don’t get me wrong I have stocks too and some brokers are awesome. However they can’t know everything about a company or their management. What do you know about the companies your IRA is invested in? Recently a CEO of a publicly traded company admitted at his trial to using $6,000 of stockholder’s money to buy a shower curtain. In yet another trial a CEO from a different company confessed to having the stockholders of the company unknowingly pick up the tab on a million dollar birthday bash for his wife. There have been numerous fines and settlements dealing with investment firms recommending stocks and funds to clients as good investments but secretly were paid by those same firms to recommend their stock! Getting paid from them and you! No wonder they have “little incentive” to recommend real estate. Finally, how well has your portfolio done over the last few years? Perhaps it’s time to diversify and put some funds in projects over which you have knowledge and control. INVEST IN WHAT YOU KNOW Do you have an area of expertise? Although I have investments in the stock market, through out my career I have purchased and remodeled 50+ homes. I think I have a good understanding of real estate! A couple of months ago there was a property that was valued at $80,000 and the owners needed a $55,000 loan. By making the loan I was able to get 12% interest plus 2 points while holding the first mortgage. The borrower didn’t have much of a credit record but I felt the property provided plenty of security. As a one year loan, I’ll make 14% and best of all it’s safe. If real estate happened to be your area of expertise, Check Book IRA would enable you to negotiate the deal and instantly write a check. The point is you can take control and, if need be, act quickly. Perhaps someone is starting a new business in a field in which you have knowledge and experience. You may feel it will succeed and would like to get in on the ground level. You could make a loan to them or be a partner with your new IRA. NEEDED ASSET PROTECTION The only thing worse than not making any return on your IRA is losing it through a lawsuit. Many, like doctors and such, are in high risk professions, but is anyone safe from lawsuits? How about being sued because your coffee is hot? Consider the now famous McDonald’s lawsuit concerning a lady spilling hot coffee on her lap after leaving the drive through. You’d think, since she was in her 60’s, that she’d know by now that coffee is generally hot. However, the jury found McDonald’s not only guilty of serving hot coffee but ruled that she had suffered enough to be awarded millions! My wife’s hair dryer has a tag on it warning “DO NOT USE IN SHOWER”. There’s no common sense. Is your IRA safe from lawsuits? The US Supreme court ruled that a court could decide how much of your IRA you get to keep in the event you lose a lawsuit and your creditor is allowed access to your IRA assets. In California a state statute says:
judgment debtor retires, taking into account all resources that are likely to be available at the time of retirement.“ Our Check Book IRA could help prevent you from losing your hard earned retirement. With our Check Book IRA you can make instant investments and sleep comfortably at night knowing it provides powerful LLC asset protection. HOW AND WHY IT WORKS. The IRA-LLC This is the key that makes the Check Book IRA so powerful. First we move your IRA to a Self-Directed Custodian, one with no investments to sell you. We help the IRA form and own a special customized LLC (limited liability company). YOU are named as the manager and have the sole signature authority. The LLC is a legal entity that has powers and protections that are not possessed by any individual or by any regular IRA. It is the combination of the self-directed IRA custodian and our special LLC that yields such beneficial results. This is an entirely new type of LLC. It is started, created and owned entirely by your IRA. An LLC that is designed specifically for an IRA, that respects IRS and Department of Labor codes governing IRAs. The legality of an IRA owning an LLC was affirmed in the case Swanson vs. The Commissioner in 1996. In fact the case for the IRS was deemed so weak that the Tax Court forced the IRS to pay the $50,000 court costs incurred by the IRA owners. Please note that an IRA owned LLC is very different than a regular LLC. One of the lessons learned from the Swanson case was the LLC must contain very specific language that meets all IRA codes and requirements, and that satisfies the Department of Labor (DOL) and all rules must be strictly followed. If the LLC is improperly drafted, the entire LLC IRA may be disqualified and taxed. Needless to say, you do not want this to happen! Not to worry, we will handle this transaction from start to finish to make sure it is done according to all the rules and guidelines. WHY AN LLC An LLC (Limited Liability Company) is a business entity that is a cross between a corporation and a partnership The LLC gives the liability protection of a corporation, that is to say, even if you own all of the LLC, you will not be liable for the LLC’s debts. At the same time it can be taxed as a partnership. This is favorable as the LLC itself will not pay any taxes, rather, it will be the owner’s of the LLC that pay the taxes. The owner’s tax bill will be determined as if they were the ones who earned the money, NOT the LLC. In short, an LLC is a separate legal entity whose tax liability passes through to the owners of the LLC even though the funds might, at the manager’s discretion, remain in the LLC. In this case the sole owner of the LLC will be your IRA and you or whomever you appoint are the Manager. As a result of this strategy no taxes will be owed on the passive profits generated in the LLC, using your Check Book IRA, unless you elect a distribution from the plan or if you use leverage in buying real estate. ASSET PROTECTION OF AN LLC In addition to offering check book control over the widest choice of investments ever, the IRA-LLC offers much stronger asset protection from judgments and creditors than is offered by any IRA. The assets in the LLC are protected by all of the IRA laws and are also protected by LLC laws and statutes. Your IRA funds are now in an LLC bank account, your stocks in an LLC broker account, and any other investments are titled in the name of the LLC. You are the manager of the LLC and the owner is the IRA. The LLC give tremendous asset protection to those assets held inside (the only asset in the IRA is the ownership of the LLC). This is because under the law you, your IRA and the LLC are all viewed as separate legal entities. Under most state laws, if someone were to win a lawsuit against the owner of an LLC, they could not take away the assets inside the LLC from the LLC owner, which in this case is your IRA. What they could receive is a “charging order” against the LLC.
A charging order doesn’t give the individual full rights over the LLC, actually their rights are very limited. You, the IRA owner would still maintain full management of the LLC and all of it’s investments. The most they would have rights to would be any distributions made, but it‘s strictly up to the manager whether to make any distributions. What if the LLC made $50,000 in profits that year and you decided to keep it all in the LLC and reinvest. The individual holding the charging order would owe the IRS the tax on that profit since LLC are “flow through” entities. The fact that no funds were distributed or left the LLC makes no difference to the IRS. This wasn’t a problem for the owner of the LLC because it’s your IRA, which is a tax free entity. But the person holding the charging order is now liable for the taxes each year. Who would want to pay taxes on the profits that may not be distributed for years? Ask any attorney and they will tell you it is almost never worth it to sue an LLC. You can have great protection against sue happy lawyers and have check book control. STEPS TO HAVING CHECK BOOK CONTROL 1. Once you decide to have Check book control we provide you a few forms to sign and we do the rest. We have our staff set up an IRA account with an IRS approved Self-Directed Custodian. We then have them contact your old custodian and transfer your IRA to this new Custodian. All or part of your IRA can be moved as well as other retirement plans. Our attorneys and staff do all the paperwork for you. Because the IRS rules are followed this transfer or“roll over” is not a taxable event. Other types of plans that may be combined with your IRA into one Check Book IRA are: SEP, 401k, 403b, Keogh, Pension Plans and more. 2. Next we form, on your behalf, a special LLC naming your new Self-Directed IRA as LLC owner. It is very important that it is done correctly. The special Operating Agreement and Subscription Agreement are the key and must be worded precisely. It names your IRA as the sole owner and you as the manager. You will have total control. Again we stress this is NOT an ordinary LLC. Simply put, in the past your IRA may have owned stock in Wal-Mart or GM but it now owns stock in an LLC. In fact it owns all of the stock or units. You are the manager. 3. We then apply to the IRS for an EIN number for the LLC‘s bank account. 4. You simply open a bank account where ever you wish and the funds are sent from your IRA to the LLC bank account. You are now ready to invest with all the assets held by the LLC protected! You may now open a brokerage account if you wish. Custodial fees are much lower because the IRA only has one asset, the LLC. From start to finish it will take between 3 and 4 weeks for you to be up and running. We do all the paperwork with the custodians, IRS, state offices and pay all the fees. This process must be done correctly and we have the experience and knowledge to get you on your way to making the kinds of investments that will allow you to enjoy the retirement of which you’ve been dreaming. So far we’ve discussed how the Check Book IRA will allow you to invest in a myriad of investments with your IRA-LLC, have instant control as manager of that LLC and receive excellent asset protection from potential lawsuits. You’re probably wondering why haven’t I heard of this before. Why didn’t my broker, banker and possibly my accountant advise me of this? You’ve got lots of questions. We have put together a FAQ Link. If you are wondering how you might take advantage of the Check Book IRA or have any additional questions please call us at 800.783.6409 and we will show you how we can set you up with minimum effort and expense on your part. You then will be on your way to Asset Protection and Check Book control of your Retirement! Founder, Check Book IRA, LLC |
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| The information provided is not intended as legal advice. (c) 2006 Check Book IRA, LLC Prineville Oregon |
| With our Check Book IRA LLC you have * Lower Annual Custodial Fee (The IRA only has one asset-the LLC) * No Transaction Fees (All transactions are done in the LLC) * No need to contact the custodian (you are the manager of the LLC) * Asset Protection |
Read or Listen to learn how Investors all over the country are taking Check Book Control of their retirement plans with the help of our knowledgeable staff |
| Call Toll Free 800.783.6409 |
You have taken the first step to having check book control and asset protection for your IRA retirement account. Here you will be able to research in depth the concept of IRAs and find out exactly what you can and can’t invest your IRA money in. The more you research this subject, the more amazed you will become to discover how flexible the IRS tax code is in regards to investing and how exposed your IRA is to creditors due to a recent US Supreme Court ruling.
freedom in your investment choices. You can invest in:
mortgages and deeds of trust, businesses, all types of loans (including personal and hard money loans), stocks, bonds, CD’s, call and put options, foreign investments, joint ventures, LLP’s, trusts, partnerships, IPO’s corporations, bridge financing, plus many other investments. How? Simply by ripping a check out of the check book and signing it! |
| Lesson 2 "What is a Check Book IRA?" For Audio CLICK HERE |
| Lesson 1 "Why Haven't I Heard this Before?" For Audio CLICK HERE |
| Meet the Founder of Check Book IRA |
With a Self Directed Custodian and the Check Book IRA you can instantly invest in... |
Foreclosures, New Construction, and more! Businesses - Franchising, Start Up, Local, Public, LLPs, LLCs, C-Corps. Financial Paper - FOREX, Options, Covered Calls, Leaps, Stocks, Bonds, Trust Deeds, Hard Money Loans, Factoring and much more! |
| Check Book IRA |
| Put the "i" back in IRA |
| It's your Life It's your Money It's your Retirement |
| In a Check Book IRA you can... |
| $100,000 in 2005 |
| $60,000 in 2008 |
- Tired of scandals, losses, high paid CEOs & 2% returns?
- Tired of broker's getting paid even when you lose funds?
- You can be more involved than merely opening your
statement at month's end. Take CHARGE of your IRA.
- What if you had bought real estate or invested in
a start up company what would your nest egg be
today?
| Check Book IRA |
| It's Your Retirement |
| Let us help you achieve Check Book Control of your Retirement Accounts |
| "Knowledge is Power" |
| Welcome to Check Book IRA |
| Lesson 3 "What Can't I do in my IRA?" For Audio CLICK HERE |
Call us Today! Toll Free 800.783.6409 Facsimile 866-302-5992 |
| Take Control of your Retirement Today !!! |
| Lesson 4 "Real Estate in my IRA" For Audio CLICK HERE |
| Lesson 5 "Other Investments in my IRA" For Audio CLICK HERE |
| Lesson 6 "The Miracle Roth-IRA" For Audio CLICK HERE |
| Lesson 7 "Tax FREE Roth IRA Strategies" For Audio CLICK HERE |
Have you been told by your stock broker or custodian that your IRA could NOT invest in real estate, for example? But is it true? The New York Times recently said
option- until the stock market began to decline. Financial Institutions, meanwhile, had little incentive to recommend something other than stocks, bonds or mutual funds.” Why “little incentive”? Your IRA profits from real estate but they don’t. The IRS makes the following statement on their website
IRA funds in real estate. IRA law does not prohibit investing in real estate but trustees are not required to offer real estate as an option.” (Emphasis added) In fact, there are but two things Congress said your IRA can not invest in, Collectibles and Life Insurance. Also you can not have any “self dealings”, which means you or your immediate family can not borrow from or loan to or enjoy the immediate benefit of your IRA. It’s exciting to know that you are about to have the ability to diversify your investments and perhaps for the first time invest in what ever it is that you know about the most. Soon when investment opportunities present themselves all you’ll have to do is rip a check out and sign it. And, as an enormous added benefit, your IRA will be much more secure from lawsuits with your IRA-LLC providing you strong asset protection. What this website represents is a teaching tool, for there is much to unlearn. We feel confident that you will want to let us help you begin the process leading to solid asset protection and check book control over your retirement. |
| Call Today Toll Free 800.783.6409 |
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Your Check Book IRA Team Custodian Established 1976 FDIC Insured 18,000 IRA Accounts Strategy Advisor 25 Years of Investing our OWN money. Client Services The Fastest Setup available |
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| Hold Gold in your Check Book IRA and store in your safe at home! |
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