All Forum Posts by: Carl Fischer

@Michael Plaks

What does it pertain to? Can you give an example?

@David Chapoell

No problem. I learned about SDIRAs 28 years ago and everyone who learns wished they knew it sooner. Feeling the pain of taxes makes you like tax saving strategies and understand their value. The USA tax system is setup so The more you make, the more taxes you pay unless you use the tools available to you. Let me know when you are ready and I can help you understand it. Tax free income for life is nice! The sooner you get there the nicer it is.

@Brad Hales
Verify the type of entity the syndication is employing-is it a debt or equity position? What reporting will your Roth receive K1, 1099, etc. Is there debt involved and will UBIT apply? Is it for accredited investors only? 
It is done all the time but understand the requirements before committing. Do your due diligence and above all make sure it will be profitable and low risk if your Roth is involved. 

@Christopher Fougere

I have property in and out of retirement accounts and I wish it all was in a Roth retirement account. You can get depreciation in retirement accounts but I like no taxes vs. some taxes. Depreciation outside the retirement account just defers the tax until you sell it and then you pay the recapture tax and capital gains tax or 1031 it.

Everybody has there own “feel good” processes and systems and I think each person should do what is best for them. I respect your opinion. However, “Tax free” is way better than “forever taxed” for me -but I also have a SDIRA company and understand the process pretty well. Good luck and and congrats for looking for opportunities in difficult situations-“turn the lemon into lemonade.”

@Christopher Fougere

I like the idea of taking $100k, converting it to a Roth, buying the real estate in the Roth -that way I have tax free income for life and possibly being able to pay it over the three years. Best of both worlds.

@Emmanuel Rosario

How much time do you spend on RE? How much money do you make in RE and other than real estate? What’s the savings one way or the other? Do you get any earned income from the RE? Is it even advantageous to be a RE professional? Get with your cpa and see what is your best approach. I don’t have enough info to make a guess at what’s best for you.

@Todd groom

Simple to fix just deposit it. Is it all cash or are there checks? Do you have leases? Is it Over$10k cash? What does he propose? If he thinks you are doing criminal activity -I don’t think I would be working with him and vice versa.  Look at other CPAs-
I make all deposits to keep the books clean for taxes. It is problems if you don’t report all income and Big sums of cash Create money laundering concerns-pick your poison. 

@Ivan Brito

Your welcome. 

Biggest challenge will be working with your partners. Get your documents and contingencies in writing. Make lots of money. 

@TJ P. Covid distributions are payback in 3 years or pay taxes over 3 years no penalty. As others have mentioned I would not forgo your tax advantage plans for an immediate distribution unless you really really need it.