Blog
CheckBook IRA Offers Private New Mexico, LLC
Are you looking for a Private LLC structure for your real estate or other ventures that allows you to have complete anonymity for your business and investment assets, plus asset protection?
How about no state taxes nor any annual reporting, that means zero public record disclosures?
Can I Add an LLC to Solo 401(k)
Some of our clients with the solo 401(k) would like to add an LLC. Perhaps for anonymity, that is what they wanted to do. And that is not an issue at all.
Is a CheckBook IRA right for me?
People are asking themselves this question every day. With many brokerages and investment advisers touting their expertise and road to a comfortable retirement people questioning more and more what is the best vehicle to assure a nest egg for the future. Many people have great success using CheckBook IRAs to diversify their investments.
Subcontractors: Heaven or Hell
If there’s one thing I learned while remodeling and flipping 50 houses in South Bend Indiana, it’s that subcontractors can make you or break you. I had my share of mistakes, but I did eventually learn. What I’d like to share with you in this Manger Report, are the most important points I gleaned from that experience. If you will listen, these things can save you thousands of dollars, and much indigestion.
Borrowing From Your Solo 401(k)
Another real advantage of the Solo 401(k) over an IRA is the ability to borrow money from your 401(k) personally. Not an investment, obviously you can do that. You are the plan administrator. You can invest in anything but life insurance and collectibles. But if your need money personally, maybe you want to fix up the house or you need a little money for a while for your child’s education, you don’t have to worry with the Solo 401(k). You can borrow according to the law up to half of your 401(k), to a maximum of $50,000. So if you have forty grand in there, you can borrow twenty. If you have a hundred thousand in there, you can borrow fifty. If you got two hundred thousand in there, you can only borrow fifty. If you and your spouse happen to be set up and we do your plan document, then we can structure it to where you and your spouse each can borrow up to that.
Spouses in a Solo 401(k)
One of the additional advantages of the Solo 401(k) is that a husband and wife can combine their retirement plans into one plan, and thus combine their funds to do investing.
Can I Buy Foreign Real Estate with my IRA or 401(k)?
A lot of people would like to buy a property in other countries with their retirement fund. It is just next to impossible using a regular self directed custodian.
A lot of people would like to buy a property in other countries with their retirement fund. It is just next to impossible using a regular self directed custodian.Each country has their own rules. Some countries, you have to be a member of a corporation in that country. You, or maybe your attorney will have to be part-owner. There’s all kinds of rules and regulations, and the custodians just don’t want to be involved in that.
Tax Return for LLC
Do you file a Tax Return for a Check Book IRA-LLC?
Well, normally you do not, because normally we set them up as a single-member LLC.
They are called the single-member entity, the IRS calls it a “Disregarded Entity”. And that simply means that whatever the LLC makes in profits, it doesn’t matter if it gives them back to the owner or it keeps them in its account. The taxes, the liability for the taxes flow through to the owner. So the owner is responsible for them.
How to Buy Real Estate With Your IRA
Every day, people are trying to figure out what is the best long-term investment for their IRA funds.
With the unpredictability of the stock market and the risks of other high yield investments Real Estate is becoming the stable investment of choice. Even with the great real estate crashes we’ve had prices have always bounced back.
Opening an IRA LLC Bank Account
There is one thing that you have to remember.
The IRA owned LLC is simply a business.
It is a limited liability company and you’re always opening up a business account. It is not an IRA account.
It don’t even breathe the words Checkbook IRA because people will be confused. They’ll run over and pull out the forms for an IRA. And then you start talking about a Checkbook, and they’re going, “No you can’t do that!”.
Co-Manager vs Successor Manager
What’s the Difference?
Once you decide that a Self Directed Check Book IRA LLC is right for you there are many things to consider. Which State to form your LLC, what to name your LLC, which accounts to rollover or transfer to your new IRA.
But choosing the Manager(s) for the LLC is a very important step that is often overlooked.
What’s the Difference Between Self-Directed IRAs and Check Book IRAs
Daily I receive questions from clients regarding the differences between a Self-Directed IRA and a Check Book IRA. I’ve laid out a summary of the two types of IRA setups as well as their respective benefits.
In a Self-Directed IRA; also known as a Custodian model; the Custodian must handle all the IRA’s funds and assets, and all transactions must go through them, since it is the IRA making the investment. The investor fills out transaction forms, and the custodian then approves, executes and funds the transaction. It must happen this way since all IRA’s are trusts and therefore the Trustee, or Custodian must be involved.
Does Your IRA Investing Have Purpose?
On my daily browse of the world of finance I came across this article about successful investing. What struck me most was the first key, investing with a purpose.
Often, prospective clients will ask if we have investments we recommend or ideas of what they should do with their IRA funds.
An Alternative to ObamaCare
An excellent article about just a FEW of the shortcomings of the Obama Care fiasco. We started using Liberty-Healthshare and are thrilled. It’s not insurance but a health sharing program that is MUCH cheaper and handles all our needs. Read the article from Investors...
If Not Now, When?
That’s why I’d prefer to take the optimistic yet realistic view that, it is in fact, NEVER too late. Never too late to take control. Never too late to take the reins and head in a new direction.
Four Benefits of Rehabbing A Home Using A Self-Directed IRA
Investors all know that there are serious profits to be made with rehabbing real estate investment deals; but, have you ever thought of using your Self-Directed Retirement Account to finance your real estate deal?
Can I use my IRA LLC to Invest in the Stock Market?
Will Owning a Check Book IRA or Solo 401(k) Shut Me Out of the Stock Market? Clients are often surprised to learn that managing a Self Directed IRA or Check Book IRA doesn’t mean that they are shut out of the Stock Market. Although information about Check Book IRAs...
Can I Buy Prepper Supplies with my IRA?
Can I Buy Prepper Supplies with my IRA? By Steve Sheppherd Yes you can, with a Check Book IRA. You can’t use them and you can’t loan them out to your family. But you can buy them as an investment as long as you are not in collectibles. You can buy other prepper...
Why the Solo 401(k) is so Simple
https://youtu.be/gl_j-ImjCtk
With Pensions At Risk…
Government Workers Must Demand Better 457 and 403(b) Retirement Plans The article below does and excellent job of laying out the dangers ahead for those workers TRAPPED in a government retirement plan. As with anything the government runs, is rife with incompetence,...
The Solo 401(k): The Best Choice for the Self-Employed
As we enter the era of Independent Contractors and small business owners, it’s important to understand and utilize all the retirement savings benefits and investment options that are possible.
Self-Directed Custodians: Finding One that Works
When it comes to selecting a Custodian for an IRA that is Self-Directed it’s important to know what to look for. Having a Self-Directed IRA means you have a different set of needs and your search for a Custodian should reflect that. Types of Investments: Consider...
How to make a Solo 401(k) Contribution after the deadline
How to Make a Solo 401(k) Contribution After the Deadline By Steve Sheppherd When April 15th approaches, many who are considering opening a Solo 401(k) lament the fact they may miss the contribution deadline for 2016. Unlike its IRA cousin, the Solo 401(k) deadline is...
Super-Charge Your Retirement Plan
Supercharge Your Retirement Plan By Steve Sheppherd Many traditional IRA plans are experiencing returns that are equal to or less than their custodial and management fees. Forbes Magazine dealt with this issue in their Personal finance section in an article titled "As...
