Better Retirement Investing With An IRA LLC

IRA LLC Benefits

If you were watching T.V. last night there is a 50/50 chance that you were watching the Super Bowl. The Super Bowl was a heck of a game this year and it came down to the wire. It truly was a great game and it is because it wasn’t lopsided nor scoreless. It was a very well balanced and hard fought game by both teams. Both teams had some great stops and some great drives to score. These are just a few of the reasons that made the Super Bowl one to remember. Just as last nights game was so great so should our retirement accounts be great..

While there are so many different ways you can tailor your retirement account for your situation (you must do that in order to get the most out of your retirement account based off your own needs), you can still do more for your retirement. Here is one thing that can make all the difference to your retirement portfolio, The IRA LLC, also known as a checkbook IRA or a self-directed IRA with checkbook control.

What is an IRA LLC?

An IRA LLC is a way for you to take back more control over your retirement investing. It is a special purpose limited liability company, that is either fully or partially owned by an IRA. that is held with an IRA custodian. One of the reasons why a client would create an IRA LLC would be to directly control their IRA funds through the establishment of an LLC. This can great if you are purchasing real estate through the LLC because all rent checks and expenses can go through the LLC rather than through the IRA custodian. That alone is probably one of the biggest reasons people who have a self-directed IRA choose to get it with checkbook control (an IRA LLC).

What is the Benefit?

Why is having the income and expenses from a real estate property going directly to the LLC so nice? Because typically it goes through the custodian. That means you will have to send rent income checks to the custodian to have them deposit it into your account. Also, whenever your real estate property has expenses that need to be payed you can use your checking account associated with the LLC to pay any expenses. Rather than doing it the normal way, through the custodian. Having to contact your custodian to tell them to pay a certain bill or expense can be annoying and time consuming. An IRA LLC allows for faster payment and receiving of payments and incomes.

With an IRA LLC you will have more control but with that extra control it means that you will have to be aware of more issues to make sure that you do not do anything that will cause you to accidentally void your IRA. If you want to learn about some of the issues that you will need to be aware of when investing with your IRA LLC then check out the following article, “Rules You Need To Know With An IRA LLC“.

Hopefully you can see why an IRA LLC is a great option. If you would like setting up an IRA LLC or just need more information then contact us today.