How to Invest Real Estate (RE) via an IRA or 401(k)
No Replies
- 04/21/18 09:00AM - 05:00PM America/New_York
- Troy Community Center 3179 Livernois Rd. Troy, Michigan 48083
- $69.00
Disclaimer: BiggerPockets does not support or sponsor any meetups unless otherwise noted. Do your due diligence before attending any events. You may be agreeing to attend an event that includes promotion, pitching, or high-pressure sales tactics or techniques. There may be pitching of products, services or properties at this event!
Three and a Half Hours of RE Bookkeeping Basics in Quickbooks
We'll put QuickBooks up on the screen LIVE and set up a real estate company, step-by-step
- Learn the SIMPLE accounting for:
- Funding the Company
- Getting Property Purchases & Sales on the Books
- Producing an Income Statement for each Property
- Producing a Balance Sheet for each Property
- How to record everyday transactions - writing checks, making deposits, etc.
If you are not keeping excellent books, you are subject to automatic IRS penalties, overpaying your return preparer, cannot plan to minimize your taxes, and can forget your entities providing asset protection.
Three and a Half Hours of IRA / 401(k) Questions and Answers
Object of Class: Learn the basics of what you can and cannot do with an IRA / 401(k), both with your own and when using money from others' accounts. Learn high-yield techniques to balloon income, tax-free of course. How to avoid disqualification of IRA (Prohibited Transaction Rules) and avoid paying tax in IRA (UBIT or Unrelated Business Income Tax). How to use LLC's in IRA, including deciding whether or not LLC makes sense for you. Examples of investments in IRA, including how to super-charge rentals, how many flips can be run and other RE-related techniques. Plain English format, open for Q&A throughout.
Prohibited Transaction Rules
- How Aggressive Should One Be with IRA Tax Rules?
- Impact of Prohibited Transaction on your IRA
- Related Parties
- Related Parties Most Everyone Knows About, Review
- Traps to Avoid: More Subtle Related Party Rules Designed to Disqualify your IRA
- Sole Benefit / Indirect Benefit Rule
- Much more Subtle & Dangerous Than Related Party Issues, Rarely Discussed
- For example, why renting IRA-owned condo to your boss at full rental rates with no discounts ruins your IRA
- Issues with Clever Transactions
- Options
- Participating Loan
When IRA's Are Taxable: UBIT (Unrelated Business Income Tax)
- Use of Debt in an IRA
- When it's taxable, when it's not
- Taxable Trade or Business in an IRAWhen does eating the tax make sense?
- Buy / Sell / Flip Transactions as a Trade or Business
- Rentals as a Trade/Business
IRA-Owned / Checkbook LLC's
- Asset Protection - does your IRA Need It?
- Partnering - Advantages & Disadvantages of LLC when Partnering
- "Checkbook" Privileges - Do you Need to Write the Check Now?
Investment Options (with Examples)
- Rentals
- Subject-To
- Buy-Rehab-Sell
- Wholesale Buy-Sell
Register at: https://www.michiganrealestateinvestors.com
