IRA LLC

IRA LLC

SECURE 2.0 Increased the RMD Age From 72 to 73 for IRAs Including IRA LLC

May 3, 2023 | By Mark Nolan

What is a Required Minimum Distribution (RMD)? Required minimum distributions (RMDs) is a way to force the IRA/IRA LLC participant to start taking taxable distributions from their IRA once they reach a certain age. RMDs were first required in the 1980s with the passage of the Tax Reform Act of 1986 requiring distributions from IRAs […]

IRA LLC
Solo 401k

Take my Solo 401k RMD From My IRA QUESTION:

January 11, 2023 | By Mark Nolan

QUESTION: I have IRA accounts which are also subject to RMDs.  I am looking to sum all retirement accounts (Solo401K, Traditional and SEP IRA’s) to get the total RMD amount, taking that total RMD amount from one IRA account.  I believe this to be kosher, particularly as it seems the filing dates are the same for each […]

IRA LLC
Solo 401k

Contribute to Solo 401k While Taking RMDs QUESTION

January 11, 2023 | By Mark Nolan

QUESTION: Even though I am required to take required minimum distributions from my solo 401k plan since I am over age 73, can I still make annual contributions to to the solo 401k plan? ANNWER: Good question, and yes you can still contribute to the solo 401k plan and the contributions would be tax-deductible if […]

IRA LLC
Regulations

SECURE 2.0 / Consolidated Appropriations Act Has Little Impact On Self-Directed IRAs Including IRA LLCs

January 5, 2023 | By Mark Nolan

President Biden signed the Consolidated Appropriations Act of 2023 on December 23, 2022. Tucked away in this bills is SECUR 2.0 which mainly impacts qualified plans including 401k plans such as solo 401k plans for the self-employed, and most of the bills provisions don’t go into effect until 2024. For the main items found in […]

IRA LLC
Solo 401k

60 Day In-Kind Rollover of Self-Directed IRA LLC (aka Checkbook IRA) from Kingdom Trust to a Self-Directed Solo 401k

November 30, 2022 | By Mark Nolan

An IRA including a self-directed IRA LLC (aka checkbook IRA) held at a self-directed IRA custodian such as Kingdom Trust may be rolled over to a self-directed solo 401k. While the preferred method of moving any IRA to a solo 401k is via a direct rollover instead of a 60- day rollover, some IRA custodians […]

IRA LLC

How do I take required minimum distributions from my IRA LLC?

November 8, 2022 | By George Blower

Self-directed IRA Question Answered – How do I take required minimum distributions from my IRA LLC?

IRA LLC
IRA LLC

Self-directed Checkbook IRA LLC FAQ Can I invest my Self directed IRA in my existing LLC?

September 30, 2022 | By George Blower

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?

IRA LLC

Self-directed Checkbook IRA LLC FAQ – Can I open the bank account for my IRA LLC at any bank?

September 22, 2022 | By George Blower

I am looking to set up a Roth IRA LLC to invest in real estate.  Can I open the IRA LLC bank account at any bank?

IRA LLC

Self-directed Checkbook IRA LLC Question Answered – How should I name my IRA LLC?

September 21, 2022 | By George Blower

I am thinking of setting up a Roth IRA LLC to invest in cryptocurrency. Should one name his/her Roth IRA LLC containing parts of his/her name? or use a non-personal name?

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