Tag Archives: IRA LLC

Checkbook Control IRA LLC Recent U. S Tax Court Case – McNulty v. Commissioner, 157 T.C. No. 10 (Nov. 18, 2021)

Filed November 18, 2021 (ANDREW MCNULTY AND DONNA MCNULTY, Petitioners v. COMMISSIONER OF INTERNAL REVENUE, Respondent), a taxpayer’s self-directed IRA was deemed as involved in a taxable distribution because the tax payer (McNulty) stored at her home the American Eagle gold coins purchased through her IRA owned LLC ( IRA LLC, also known as a […]

Good News: Backdoor Roth and Mega Backdoor Removed from Pending Reconciliation Bill Build Back Better Act of 2021

Nov. 3rd, 2021: The Proposed Band of the Backdoor Roth & Mega Backdoor Roth is Back–See the following for more Information:  https://www.mysolo401k.net/back-again-backdoor-roth-and-mega-backdoor-roth-added-back-to-pending-reconciliation-bill-build-back-better-act-of-2021/ The latest draft of the Build Back Better Act has good news for IRA and 401k including solo 401k account holders. Essentially, the proposed ban of both the backdoor Roth IRA and mega backdoor […]

Proposed Budget Reconciliation Amendment- The Build Better Act: Impact on IRA vs Solo 401k

Nov. 3rd, 2021: The Proposed Band of the Backdoor Roth & Mega Backdoor Roth is Back–See the following for more Information:  https://www.mysolo401k.net/back-again-backdoor-roth-and-mega-backdoor-roth-added-back-to-pending-reconciliation-bill-build-back-better-act-of-2021/   Update as of October 28, 2021: Great news–The retirement account provisions found in the pending Build Better Act  bill have been defeated. See the following for more information: https://www.mysolo401k.net/proposed-ban-on-ira-accredited-investments-has-been-removed-from-reconciliation-bill-build-back-better-act-of-2021/  And https://www.mysolo401k.net/good-news-backdoor-roth-and-mega-backdoor-removed-from-pending-reconciliation-bill-build-back-better-act-of-2021/   […]

Self-Directed IRA LLC for Precious Metals Investment

Investing in precious metals is an additional way of diversifying one’s retirement funds in alternative investments. This is specially common when fears of inflation arise. Using an IRA LLC to invest in allowable precious metals is one way retirement account investors are diversifying their retirement funds while also combating inflation. Video Slides: https://www.mysolo401k.net/wp-content/uploads/2021/08/IRA-LLC-for-Precious-Metals-Investment.pdf

The Do’s and Don’ts of Self-Directed IRA LLC Real Estate Investing

A self-directed IRA LLC is commonly used to invest in real estate such as family homes, commercial real estate, farm land, condos, and rentals. As with all IRA investments, certain rules when investing an IRA LLC in real estate, and running afoul of the IRA prohibited transaction rules can result in serious tax consequences. Examples […]