 rollover pension (by geechy dan [OH]) Nov 28, 2013 1:06 PM
 rollover pension (by BRAD 20,000 [IN]) Nov 28, 2013 9:22 PM
rollover pension (by geechy dan [OH]) Nov 29, 2013 5:54 AM
rollover pension (by BRAD 20,000 [IN]) Nov 30, 2013 4:14 PM
rollover pension (by geechy dan [OH]) Posted on: Nov 28, 2013 1:06 PM
Message:
State Specific Question About: OHIO (OH)
my wife roll over her IRA to a (self directed TRowe acct.)to purchase 2-family houses and we have purchase 4 houses and we are working on the 5th house and are 90%rented.But notice that the IRS is on our backs everytime we make a withdrawn of 10-20%(they want).I thought that the Roll-Over protects your money from IRS claims or %'s amounts.I want to do the same with my "Annuity"because of the saturated rental market.But is there any "Tax-Protection,Shelter or Blanket to defer or trim the Tax cost(when we make a withdraw)???? is LLC a option??? --172.11.xx.xxx |
rollover pension (by BRAD 20,000 [IN]) Posted on: Nov 28, 2013 9:22 PM
Message:
geechy, What was the original IRA? traditional or Roth?
I just paid $500 to sit with a Self Directed Roth expert who has been thru IRS audits of IRAs.
The IRS is REALLY cracking down on them.
You cannot buy the house yourself. I only bid at the auction but did not sign or pay - prohibited. IRS is oging back to the auction documents to see who bid.
You cannot manage the lease.
You cannot touch the rent money.
You cannot do ANY labor, even sweep off the porch.
He says they are going to the workers you paid and neighbors to ask who did the work.' --67.162.xxx.xxx |
rollover pension (by geechy dan [OH]) Posted on: Nov 29, 2013 5:54 AM
Message:
traditional ira --172.11.xx.xxx |
rollover pension (by BRAD 20,000 [IN]) Posted on: Nov 30, 2013 4:14 PM
Message:
geechy,
Get professional advice, but if you properly rolled from one custodian to another, without touching the money, this would normally be tax free.
Me? I want everything in a self directed ROTH.
If you have the ability to make money with RE, ME? I;d pay the penalties and get it into a ROTH. at 10% gain annually it will take 3.5 years to break even. From that point until your kids and grandkids have spent it all, every dollar of rent or flip is tax free. That's liek making an extra 40% on your money. (You need to increase by 40% to have 30% to pay the govt.)
PS: the money you have in your traditional IRA is not all yours. It belongs to you and the govt.
If your report says you "have" $100,000, you really only have $70,000 because the govt will take their 30% the moment you try to touch yours.
--67.162.xxx.xxx |
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