We are excited to be able to offer our thousands of Self-Directed IRA clients the opportunity to consult with our in-house tax CPAs on all tax aspects of the Self-Directed IRA LLC and any filing requirements.
Miami, FL (PRWEB) August 18, 2013
IRA Financial Group, the leading provider of “checkbook control” self-directed IRA LLC structures announces the introduction of its new in-house CPA service specifically dedicated to assisting Self-Directed IRA clients with all IRS and tax matters concerning the LLC and the Self-Directed IRA structure. “We are excited to be able to offer our thousands of Self-Directed IRA clients the opportunity to consult with our in-house tax CPAs on all tax aspects of the Self-Directed IRA LLC and any filing requirements," stated Adam Bergman, an in-house tax attorney 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 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.
The IRA Financial Group has designed a specialized Self-Directed IRA 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. Below is a list of some of the services offered by our in-house CPAs:
- Advising clients regarding Federal Income tax matters concerning the use of a Self-Directed IRA LLC
- Advising clients regarding state Income tax matters concerning the use of a Self-Directed IRA LLC
- Assisting clients with the completion and filing of any Federal Income tax Partnership returns in connection with a Self-Directed IRA LLC
- Assisting clients the completion and filing of any state Income tax returns in connection with a Self-Directed IRA LLC
- Advising clients on the IRS prohibited transaction rules as they pertain to federal and state tax matters involving a Self-Directed IRA transaction
- Assisting clients regarding any state franchise or income tax matters concerning a Self-Directed IRA LLC investment
- Advising clients regarding the Unrelated Business Taxable Income (UBTI or UBIT) rules
- Advising clients regarding the Unrelated Debt Finance Income (UDFI) tax rules
- Assisting clients the completion and filing of the IRS Form 990-T in connection with a Self-Directed IRA LLC investment that generates UBTI and/or UDFI
- Assisting clients with the day-to-day accounting and management of the Self-Directed IRA LLC & investments (QuickBooks)
- Self-Directed IRA valuation services
- Advising on the federal and state asset & creditor protection rules relating to the use of a Self-Directed IRA LLC
“The tax professionals and CPAs at the IRA Financial Group are committed to making sure your Self-Directed IRA LLC remains in full IRS compliance from establishment through investment," 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.