American Monetary Association 420: John Hyre- Could This New Legislation Mean the END of the Self-Directed IRA?
Could new legislation be the end of the self-directed IRA? Jason Hartman is joined by tax attorney John Hyre to discuss new legislation that could impact your self directed IRA or 401K.
Watch the video HERE.
Key Takeaways:
0:52 Welcome John Hyre, tax attorney and self-directed IRA and 401K expert
1:35 New legislation is basically the destruction of the self-directed IRA
3:25 The legislation contains three major parts with the following consequences
6:43 John was one of the first to sound the alarm on his website HandsOffMyIRA.com
9:55 A government that is broke becomes predatory on its citizens
10:45 They're trying to force you off of Main Street into Wall Street
12:50 If this legislation passes, what should we do? What does this mean for your IRA or 401K?
17:36 Let's break down what Peter Thiel did with his Facebook stock
19:49 People with IRAs that wanted to invest in syndications are sitting on the money and waiting to see what will happen because they don't want to be forced out in two years
20:25 I don't think the people who wrote legislation live in the real world or understand just how dependent a lot of businesses are on IRA money
22:23 What are some tips that you want to share with our viewers?
26:39 Corporations are becoming more of an arbitrage opportunity, especially for a rental management company
27:21 Try this technique with Airbnb
28:09 How does someone use a C-Corp, as opposed to an S-Corp, or an LLC treated under Subchapter S, considering that the corporation is taxed at the corporate level
35:16 There is a provision that if you have an S-Corp that's old, roughly 1997 or older, you're allowed to convert it to an LLC tax free
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