13

Self directed IRAs have rules to prevent self-dealing of this sort called "prohibited transactions". You can't buy or sell or lease assets or obtain services from anyone closely linked to you or any beneficiaries of the IRA. You can't loan yourself money from the IRA, and you can't deliberately take the proceeds that should be going to your self directed IRA ...


7

The dividend goes into the IRA (either reinvested automatically or remains as cash until you invest it, per your choice). You're not taxed on this dividend (IRA is a taxed-deferred account - you're taxed on the distributions, but not on the capital gains within the account).


5

Since the I in IRA stands for Individual there is no such thing as a Joint IRA. Even married couples can't have a Joint IRA. Now who has the logins is a different matter....


5

Our company does a lot of research on the self-directed IRA industry. We also provide financial advice in this area. In short, we have seen a lot in this industry. You mentioned custodian fees. This can be a sore spot for many investors. However, not all custodians are expensive, you should do your research before choosing the best one. Here is a list of ...


4

Since the I in IRA is individual. The retirement money from your accounts will end up in one or more IRAs. The retirement money from your spouses retirement accounts will end up in one or more IRAs owned by your spouse. How many IRA each will need depends on if the retirement fund contains pre-tax, post-tax, Roth and company match; and if you want to do any ...


3

I don't quite understand your thought process here. First, in a tax-advantaged retirement account you are NOT allowed to engage in a transaction with yourself. If you just want to run a business and be able to write off expenses, how is using the self-directed IRA relevant? You can either buy the condo using your tax-advantaged account and rent it out ...


3

Your question asks "how" but "if" may be your issue. Most companies will not permit an external transfer while still employed, or under a certain age, 55 or so. If yours is one of the rare companies that permits a transfer, you simply open an IRA with the broker of your choice. Schwab, Fidelity, eTrade, or a dozen others. That broker will give you the ...


3

I don't think there is a right or wrong answer and it will really depend on your situation. If you keep your brokerage accounts separate, you have the benefit of simplifying your tax return since each of you will get a separate 1099 from the brokerage company. If you create a joint account you will have to figure out how to divide them when you file your ...


3

No, you cannot. ISO are given to you in your capacity as an employee (that's why it is "qualified"), while your IRA is not an employee. You cannot transfer property to the IRA, so you cannot transfer them to the IRA once you paid for them as well. This is different from non-qualified stock options (discussed in this question), which I believe technically ...


3

No, there are not. Provided both your 401(k) and 403(b) allow rolling over (in most cases this means you no longer work for the company associated with them), you can roll both into the same IRA. Where you currently work isn't relevant, unless you still work for either the company that sponsored your 401(k) or the company that sponsored your 403(b).


2

As stated above, the IRA accounts themselves are individual. But if you want to simulate a joint account, the following actions would help: Make sure to setup each account with the other spouse as the beneficiary so that each account goes to any surviving spouse should the unexpected happen. Some brokers (I know TDA does this) allow you to grant access to ...


2

we can then start taking penalty free withdrawals from it? There's no "we" in IRA. There's "I". That stands for "Individual". So your wife's age has no influence whatsoever on your ability to make qualified distributions from your IRA. The reason courts order distributions from IRAs is due to the community property laws of various States or other ...


2

Pros of Solo 401k: Higher contribution limits, you can contribute $17500 (this amount fluctuates every year, usually higher) and then can contribute 20% of your profits up to a total yearly contribution of $50,000 for a person filing as single. The other perks of 401k's come a long with that, such as being able to borrow against your 401k for 5 years. ...


2

Technically these would be two unrelated loans from two unrelated entities. One from your person, and one from the IRA. The loan from your person is trivial, but the loan from the IRA may cause troubles. Read carefully the warning Dilip@ wrote in his comment. I suggest you discuss this with a CPA/Attorney who specializes in self-directed IRA handling. Keep ...


1

You have a manager arranged?? I think that manager is about to rip you off. LLCs do not require external managers, and do not do the things you think they do. Someone is pulling the wool over your eyes. You don't need LLCs to do investing. As a tax shelter, single member LLCs do nothing since they are a disregarded entity for tax purposes. They are ...


1

There is no income limit for making Traditional IRA contributions. There are only income limits for the tax deductibility of such a contribution, given by the IRS here. If you above that income limit, then you are almost certainly better off doing a Roth IRA contribution except in special cases. Traditional IRA contributions that are deductible are similar ...


1

Publication 590 has a list of prohibited transactions that may incur taxes and penalties or forfeit the whole IRA altogether. Foreign currency is not listed, and as such is not explicitly prohibited. However, IRS may claim it is based on some other rule, so better talk to a licensed tax adviser (EA/CPA licensed in your State). In any case, the investment ...


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