All Forum Posts by: Corey G.

 Yeah my roth and traditional are separate and I've never comingled the funds. 

So what are the downsides of creating a PM company and paying myself? I think there are self employment taxes. I heard that contributions are limited to 20% for a SEP IRA but are you saying the solo 401K is not limited?

So I quit my job in 2022 and so for the last year I have been working strictly on my properties. I never bothered with logging my time (because it was a hassle and I didn't think it would be much benefit) but now I'm realizing that I can't contribute to my Roth SDIRA anymore because all my income is passive. I probably would quality for being a trade or business with the amount of hours I put in remodeling and such but since I don't have logs for the past 4 years (since I've had my rentals for much longer), it would be at least 3 to 4 more years before I'd qualify for that. Or I'd have to try and work up my log hours from home depot & gas station receipts which would be a big pain in the butt. I've heard about people creating Property Management businesses and billing their properties for service... which seams easier but I know that subjects me to self employment tax (but does open up other possibilities of self employed 401ks and such). Anybody have any other suggestions or experience with going the management route? 

I thought I'd give an update, I reached out to titan and they did exactly what I wanted. Plus I get 25 free domestic wires a month. Thanks for the tip. 

Okay, I got the impression that the Self directed IRA was going to try to open a second SDIRA for me. If that is just a LLC bank account, then that's what I want. I'll probably reach out tomorrow. I started the application for the business deposit account because I thought that's was the bank account option.

Thanks I actually looked at them before but I wasn't sure if the link posted was for opening another self directed IRA? or just a bank account for my existing IRA? I see there is also an option for business deposit accounts. Do you know?

I have an self directed IRA and the bank it's with (Solera) has problems with Plaid. It prevents me from transferring money to my crypto exchanges and I end up wiring money, which gets expensive. It would also be nice to earn a little interest on the cash in there so I want to open a 2nd bank account under my LLC, but several banks have turned me down. One doesn't allow business accounts dealing with crypto, one wouldn't allow a LLC account for retirement funds, and another wouldn't open a business account "because it's not a business". I didn't have this much trouble opening the crypto accounts under the LLC so I'm not sure why it's so difficult. So does anybody have any recommendations on banks that are okay with opening business accounts for LLCs with SDIRA funds? Preferably with low fees? Any help is appreciated.

I understand this is a quite older thread but I was looking for tax liens in Maricopa and was wondering how one might find the secondary market for them? 

Thanks for responding, I guess I didn't have notifications set up for when I got a message. Sorry about that. I think I'm mostly concerned about the tax benefits of SDIRA vs the solo 401k. From what I understand, I think I would have to pay self employment taxes if I have a business that would qualify for the solo 401k. That would likely negate the tax benefits of it, even if I could qualify as self employed. I was hoping someone on here would know about that. I don't have a go to accountant currently (even though I probably should at this point)

Hi Everyone, I recently quit my day job and am trying to decide what to do with my 401k funds. I was going to transfer into an IRA but when I got to looking things over, I'm seeing some other options that I don't know if I'd be qualified for and would like some advice if possible. I own 4 rental properties (16 units total) and I manage them all myself. My 401k has both pretax and Roth funds in it. I was originally just going to transfer the Roth part into my existing Roth IRA and setup a Traditional IRA for the pretax funds but I'm thinking at the very least I want Checkbook Control on my funds and that's not available with my existing company. I'd like to have the option to invest into real estate and Crypo. I have seen some additional options like the Solo 401k, SEPIRA, and some others and I like the increased contribution limits but I am not technically "self employed" even though I'm managing all these properties. I'm curious as to what would be my best option. Is there a way to set myself up as self employed running my own real estate or property management business? I believe the self employment retirement accounts also require self employment taxes so that would be a negative of those option. Any options that I'm not aware of? Any advice would be appreciated.