78Southwind
Well-Known Member
- Joined
- Oct 1, 2007
- Messages
- 3,846
- Reaction score
- 3,051
https://markjkohler.com/congress-is-attacking-the-ira-of-average-americans/
If you or a relative are investing in Real Estate through a IRA/LLC I would contact my Senators and House Members....
Part of the article,,,
Section 138314 Should Be Removed from the Bill – This section prohibits several activities but the most destructive would affect retirement savers who buy real estate with their IRA. The most common real estate investment for an IRA saver is a single-family rental property. However, there are thousands of other everyday investors that want an IRA/LLC (a structure whereby their IRA owns an LLC 100% and the LLC, in turn, owns a business operation and the IRA owner is typically the manager of said LLC).
These LLCs can be created to pool money for cryptocurrency investment or mining, farming, note investing, small business, and a whole host of other strategies where the IRA owner can legally act as the manager of the LLC…all without the help of Wallstreet getting their grubby hands on the money.
This section would generally prohibit the IRA/LLC or make it cost prohibited and drive all of your self-directing money back to Wallstreet. Obviously, this will increase fees and expenses, further hurting hard-working Americans and will take investment control away from the IRA saver.
If you or a relative are investing in Real Estate through a IRA/LLC I would contact my Senators and House Members....
Part of the article,,,
Section 138314 Should Be Removed from the Bill – This section prohibits several activities but the most destructive would affect retirement savers who buy real estate with their IRA. The most common real estate investment for an IRA saver is a single-family rental property. However, there are thousands of other everyday investors that want an IRA/LLC (a structure whereby their IRA owns an LLC 100% and the LLC, in turn, owns a business operation and the IRA owner is typically the manager of said LLC).
These LLCs can be created to pool money for cryptocurrency investment or mining, farming, note investing, small business, and a whole host of other strategies where the IRA owner can legally act as the manager of the LLC…all without the help of Wallstreet getting their grubby hands on the money.
This section would generally prohibit the IRA/LLC or make it cost prohibited and drive all of your self-directing money back to Wallstreet. Obviously, this will increase fees and expenses, further hurting hard-working Americans and will take investment control away from the IRA saver.
Last edited: