Because flipping real estate generally triggers short-term capital gains , which is taxed at ordinary income tax rates, using a self-directed IRA to buy real estate can offer enormous tax savings
New York, NY (PRWEB) February 25, 2014
IRA Financial Group, the leading provider of self-directed IRA LLC solutions, introduces a special self-directed retirement solution for buying and selling real estate without paying tax.
The “checkbook control” self directed IRA LLC real estate flipping solution offers one the ability to use his or her retirement funds to make almost any type of investment on their own without requiring the consent of any custodian or person, including real estate. The IRS only describes the type of investments that are prohibited, which are very few. With IRA Financial Group’s self-directed IRA LLC real estate flipping solution, an individual can buy and sell real estate without paying tax, which can offer a real estate investor a huge tax savings. “Using a self-directed IRA LLC to flip homes can save a real estate investor up to 35% in tax, which is a huge advantage, “ stated Susan Glass, a tax specialist with the IRA Financial Group. “Because flipping real estate generally triggers short-term capital gains , which is taxed at ordinary income tax rates, using a self-directed IRA to buy real estate can offer enormous tax savings, “ stated Ms. Glass.
The IRS has always permitted an IRA to purchase real estate, raw land, or flip homes. “With IRA Financial Group’s self-directed IRA LLC real estate flipping solution, buying and flipping rental properties is as simple as writing a check and is tax-free, “ stated Ms. Glass. “As the manager of the checkbook control IRA LLC, the IRA holder will have control over his or her IRA funds so that flipping a home can be made by simply writing a check,” stated Jean Scharfman, a retirement tax specialist with the IRA Financial Group. One major advantage of buying rental properties with retirement funds is that all rental income generated by the property is tax-deferred until a distribution is taken (Traditional IRA distributions are not required until the IRA owner turns 70 1/2). In the case of a Self-Directed Roth IRA LLC, all gains are tax-free.
Unlike a conventional Self Directed IRA which requires custodian consent and requires high custodian fees, a real estate IRA LLC with Checkbook Control will allow one to buy real estate, including rental properties by simply writing a check. “With a traditional custodian controlled self directed IRA, completing real estate flipping transaction would be nearly impossible since the IRA custodian would need to be involved in every facet of the real estate transaction, “ stated Ms. Scharfman. Whereas, with IRA Financial Group’s checkbook control self-directed IRA real estate LLC solution, the IRA funds will be held at a local bank in the name of the IRA LLC which would make entering into a real estate investment as simple as writing a check. With IRA Financial Group’s real estate IRA LLC solution, no longer would one need to ask the IRA custodian for permission or have the IRA custodian sign the real estate transaction documents. Instead, with a Checkbook Control IRA, as manager of the IRA LLC, the IRA holder, will be able to buy rental properties simply by writing a check.
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 “checkbook control Self Directed IRA Facilitator. 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.