Explore the world of Self-Directed IRAs with a live Q&A session covering investing in alternative assets, self-correcting IRAs, Mega Backdoor Roth strategy, and more. Learn about setting up entities in different states, understanding UBIT regulations, and the importance of professional advice in complex legal and tax scenarios.
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Quick takeaways
Self-directed IRAs offer diverse investment options beyond traditional assets like stocks and bonds, including real estate and cryptocurrency.
Managing unexpected expenses in a self-directed IRA can involve third-party loans or emergency exemptions, showcasing creative financial solutions.
Having separate LLCs for each property in a self-directed IRA can mitigate risks and protect equity, depending on investment value and structure.
Deep dives
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Using a self-directed IRA, individuals can invest in various assets allowed by law beyond traditional options like stocks and bonds, such as rental properties, small businesses, startups, or cryptocurrency. This flexibility offers a broader range of investment opportunities for retirement savings.
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Richard's query about using an LLC in a self-directed IRA for real estate highlights the issue of managing unexpected expenses like a new roof. The approach discussed involves third-party loans or utilizing a specific exemption for emergency situations, showcasing creative solutions to financial challenges within a self-directed IRA.
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Stickler enquires about owning multiple properties within a self-directed IRA, focusing on asset protection and liability concerns. The response explains the option of having a separate LLC for each property to mitigate risks and protect equity, depending on the value and structure of the investments.
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Sonya's question regarding maxing out a 401k while making Roth IRA contributions delves into the complexities of retirement account contributions. The explanation clarifies the possibility of contributing to a Roth IRA even if the 401k is maximized, emphasizing the distinctions between various retirement account options and strategies.
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Deanna, as the CFO, presents a unique challenge of structuring ownership transitions within companies and personal investments. The response navigates the intricacies of potentially using a self-directed IRA and personal investments to acquire ownership, focusing on legal considerations, feasibility, and tax implications based on the evolving business landscape.
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The summary addresses Tim's inquiry about relocating an S corporation from Delaware to Wyoming, highlighting the process of domestication for such changes. Considerations include the benefits of choosing locations based on business activities, the nuances of state regulations, and the potential costs and legal steps involved in shifting corporate registrations across states.
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Live Q&A on Self-Directed IRAs, Entity Registrations, and Tax Laws
In this special live episode, we're diving into Self-Directed IRA Summer School. Join us as we answer common questions about self-correcting your IRA and investing in alternative assets. Plus, learn about the Mega Backdoor Roth strategy and more. Don't miss out!
