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SDIRA Concepts

Mitt Romney Ballooned his IRA to $100 Million

November 8, 2019

So it wasn’t simple. There were lots of moving parts. But the reward was huge: 50+ free and clear rentals producing tax-free income.

Saving for More than Retirement: Beyond the Roth IRA

This legal technique could also be used in a Coverdell Education Savings Account to pay for kids’ K-12 private school + university education. The same technique could also be used in a Health Savings Account to pay for healthcare for the rest of one’s life.

Other techniques exist, I have simply provided you with two examples.

But Romney did not get results by sitting on his hands. Nor did the investor I described above get his results by avoiding action. Act now – before Congress changes its collective mind.

Free Guide: Discover more about self-directed IRAs

John Hyre is a tax attorney, accountant and investor. His tax practice is based in Columbus, Ohio, but most of his clients are from states or countries outside of Ohio. He has been practicing for twenty years in the area of tax law, with a focus on the taxation of real estate, small businesses and self-directed IRAs/401(k)s. John frequently speaks nationally on taxation and has successfully represented clients in IRS audits and in Tax Court. John is accepting clients from all over the US (and overseas) for tax planning consultations and representation in IRS audits or in Tax Court.

Yes, partnering your self-directed IRA or other retirement account with another funding source is possible. You can partner your IRA with your non-IRA money, your other retirement accounts, your spouse’s IRA, other people’s IRAs, another investor’s non-IRA money and your children/grandchildren’s CESAs, to name a few options.

If your IRA owns an asset or interest that produces unrelated business taxable income (UBTI), your IRA may be subject to an unrelated business income tax (UBIT) pursuant to Section 511 of the Internal Revenue Code.

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