Can I retire in a house bought by my IRA LLC?
Sunday, September 04
I received the following question from one of our clients: Dear Jordan,I was wondering how it would work if I chose to buy a piece of property that I later wanted to move into and own? I’m looking at a piece of land here in North Carolina that I would like to hold on to and use for retirement (m...
Prohibited Transaction Rules, Part I: An IRA LLC Primer
Sunday, September 04
Clients will often ask me what I think is the most important thing for them to learn before they have us set them up with a CheckBook IRA LLC. I always answer that the subject of prohibited transactions is by far the most important. It can sometimes seem a bit confusing, especially for those who ...
Prohibited Transaction Rules, Part II: Who is a prohibited person?
Sunday, September 04
Part I of this series was all about defining what constitutes a prohibited transaction. You know that any deal or transaction of any kind between a plan and a prohibited person is a prohibited transaction. Super. But what is a disqualified person?(NOTE : For purposes of this series, I will use...
Prohibited Transaction Rules, Part III: Disqualified Entities
Sunday, September 04
InPart I of this series we defined a prohibited transaction, and in Part II we looked at who the disqualified persons are to your CheckBook IRA LLC. Next, we’ll look at disqualified entities. This is a bit trickier and is more involved than figuring out who are the disqualified or prohibited p...
Prohibited Transaction Rules, Part IV: IRA LLC Examples
Sunday, September 04
In Part I, we talked about prohibited transaction rules in general; inPart II, we talked about prohibited parties specifically; and inPart III, we talked about prohibited entities. Now that we’ve covered some ground, let’s put it all together and look at some examples of how this would play out ...
IRA LLC & Rental Property: A Common Mistake
Sunday, September 04
Yesterday I received a call from a woman in North Carolina who was interested inusing the CheckBook IRA LLC structure to buy rental property. I had explained the process and how it works for about fifteen minutes or so, when we started talking about investments. She mentioned she was planning o...