The tax professionals and CPAs at the IRA Financial Group are committed to making sure all our Self-Directed IRA clients making real estate investments are complying with all IRS rules and regulations
New York, NY (PRWEB) January 29, 2014
IRA Financial Group, the leading provider of “checkbook control” self-directed real estate IRA LLC structures announces the introduction of its new in-house CPA service specifically dedicated to assisting “checkbook control” real estate IRA clients with all IRS and tax matters concerning the LLC and the Self-Directed IRA real estate structure. “We are excited to be able to offer our thousands of “checkbook control” IRA real estate IRA clients the opportunity to consult with our in-house tax CPAs on all tax aspects of the Self-Directed real estate IRA LLC and any filing requirements, “ stated Joel Baum, an in-house tax CPA with the IRA Financial Group.
Using a Self-Directed IRA LLC to make investments, such as real estate presents many exciting investment and tax deferral opportunities. In general, when a wholly owned IRA LLC, also known as a single member Self-Directed IRA LLC is used to make a retirement account investment, there is generally no Federal Income tax return filing requirements, as the LLC will be treated as a disregarded entity for tax purposes. An LLC is treated as passthrough entity for tax purposes, which means it is not subject to tax. The owner (IRA member) of the LLC would be the party responsible for the payment of tax on the allocated net profits generated by the LLC.
When it comes to the payment of tax, in the case of a single member LLC treated as a disregarded entity for tax purposes, the member (owner) of the LLC, and not the LLC would be responsible for the payment of tax in connection with any net profits generated by the LLC. However, in the case of a single-member Self-Directed real estate IRA LLC, an IRA, which is exempt from tax pursuant to IRC Section 408, is the sole owner of the LLC, not an individual or taxable entity. Hence, since a tax-exempt retirement account is the sole owner of the LLC, in general, no tax is due when making real estate and other passive investments with a Self-Directed IRA LLC.
According to Mr. Baum, The IRA Financial Group has designed a specialized checkbook IRA Real Estate LLC CPA service, which will offer clients the ability to consult with specialized Self-Directed IRA trained CPAs on a wide variety of tax & LLC matters concerning the Self-Directed IRA LLC and making real estate investments with a “checkbook control” IRA. “The tax professionals and CPAs at the IRA Financial Group are committed to making sure all our Self-Directed IRA clients making real estate investments are complying with all IRS rules and regulations, “ stated Mr. Bergman
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market's leading self-directed Solo 401(k) Plan provider. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.
To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.