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About 98% of the people that come to me are not aware that they can invest in real estate from their RIA or 401k. Investing with your IRA or 401k brings enormous tax advantages, and therefore growth advantages, but there is quite a bit you need to...
About 98% of the people that come to me are not aware that they can invest in real estate from their RIA or 401k. Investing with your IRA or 401k brings enormous tax advantages, and therefore growth advantages, but there is quite a bit you need to know before you get started.
This episode is part 2 of my interview with Attorney, Accountant, and Real Estate Investor John Hyre. In this episode, John covers a few advantages and disadvantages of various retirement investing plans and the pitfalls of prohibited transactions which can easily blow up your IRA and cost you 50%-60% of the account value.
John has a course on this topic that I have reviewed on my website: http://www.themichaelblank.com/ira. For a limited time, John is offering this course and the live conference footage (discussed in this episode) for only $1,197 (Regular Pricing: $2,391).
Key Takeaways:
[3:42] An IRA is the biggest loophole out there. The best way to deal with income is to make it not taxable to begin with.
[10:59] Roth IRA VS a traditional IRA
[11:33] It’s much better to be taxed on the seed now then the crop later.
[12:02] Self-directed 401K’s are superior to traditional IRA
[12:15] The value/importance Health Saving Accounts (HSA) and Coverdell Education Savings Accounts (CESA) are often underestimated.
[14:30] Why you should set up an HSA TODAY
[15:39]- why 401K’s are “infinitely superior” to IRA’s. Penalties for prohibited transactions are MUCH worse for an IRA.
[19:45] The power of tax-free investing.
[26:26] Prohibited transitions in IRAs- what makes them so scary. Don’t just be conservative, be Paranoid.
[33:32] Statue of limitations on prohibited transactions (NEW)
Mentioned in this interview:
IRA Investing: Review of the Tax Litigators Guide to Tax-Free IRA, HSA & CESA Wealth by John Hyre- Special Limited Time Offer: Buy the course + live conference for just $1,197 (Regular Pricing: $2,391)
Purchase here: http://www.themichaelblank.com/ira
Connect with John
Iralawer.com
Realeastatetaxlaw.com
