I am considering setting up an IRA LLC to invest my Roth IRA funds in real estate. I already have an LLC for my business (which sponsors a Solo 401k). Can I use the same LLC for this IRA and then open a separate checking account?
I have a single member LLC taxed as a sole proprietor. I have been contributing to a SEP IRA and have already filed my 1040 for 2021. I just learned I can do a Solo 401k in an LLC. Am I correct in thinking that I can establish a Solo 401k for 2022, fund it in 2023 before my 1040 is due (with extension), and fund it 100% with after-tax contributions up to $67,500? My Schedule C Line 31 will be over that amount and I over 50 years of age.
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