Do You Know Someone Who Needs Funding?
2:04pm - 16/Jun/2011
Well look no further than Service Financial, LLC. In May, our group closed the following loans:
$550,000 private money loan - Borrower had a chemical mixing company and the annual government inspection uncovered a potential leak. They needed money quickly to remove the materials and, replace or they would be shut down. We did a private money loan against their building and, closed it in 14 days - saving the company. When you need mo
Are they going to seize your retirement account?
10:08pm - 22/Oct/2010
401K and IRAs – will they be confiscated?
Given the huge debt build-up, will the US government ever go after your retirement account?
The arithmetic for Uncle Sam to invade your IRA or 401K is quite compelling.
There are 4.3 trillion dollars in private retirement accounts in the US.
The US government i
Checkbook Retirement Plan
10:03pm - 22/Oct/2010
How to become debt free within 6 – 9 months and build your wealth tax-deferred like the wealthiest families do How the famous Dime on the Dollar™ method can work so you can get out of debt for a fraction of what you owe, have good credit, and pay YOURSELF interest instead of the banks How to win AWAY from Wall Street — why most stocks and bonds are for losers, the only winner being Wall Street insiders How to avoid being taken to the cleane
Self-Directed Real Estate IRA’s Offer Choices
10:19am - 31/Jul/2010
Whether you’re a seasoned investor or a newbie, you need to make yourselfaware of the options available to you with a Self-Directed IRA. My suggestion is that you first have a good talk with yourself about being a “hands on” investor, or if you’d rather let your broker
Free Self Directed IRA Webinar
2:33pm - 08/May/2010
Are the banks and financial advisors HIDING the truth about Checkbook IRAs?
This team of experts says “YES” and they show you how you might double or triple your returns by SELLING all your stocks and bonds. Yes you CAN get a checkbook that lets you be your own trustee and custodian so you can control where your retirement funds get invested How to loan money to your business with very low risk and high returns…using yo
Do I need to ask permission to make an investment in my Self Directed IRA?
11:58am - 07/May/2010
No. You are the manager of your SDIRA and all decisions are made by you, when you want to make an investment, you write a check, use your debit card, wire funds, ect… All contracts can be signed by you; if you want to hire another decision maker you can also do that. You will need to report to the custodian on an annual basis. Most custodians don’t have any formal documents to make this reporting, a simple letter will suffice; we recommend keeping a balance sheet for your entity and send
Can I work on a property owned by my IRA?
11:57am - 07/May/2010
Some outfits may consider this to be sweat equity and prohibited. The code doesn’t mention anything about sweat equity but does state that you cannot directly or indirectly extend credit to your IRA. You are allowed to day trade stocks with your IRA, so why wouldn’t you be allowed to swing hammers in a property owned by your IRA? Unfortunately the code doesn’t define “credit”, leaving this question to be one of those grey areas.
What if I need to borrow money to buy real estate?
11:55am - 07/May/2010
Because you cannot extend credit to your IRA, and your IRA cannot be used as security, it makes borrowing money a little more difficult, however, for us this isn’t a big problem. As long as you get a loan that doesn’t take recourse against you or your IRA, you aren’t making a prohibited transaction. What most individua
Can I purchase an asset that I currently own?
11:54am - 07/May/2010
No. This is a prohibited transaction. If this is something you really want to do you might get a private letter ruling from the Department of Labor allowing you to make this investment. Private letter rulings can be very costly and may not be approved.
My Broker, CPA and Attorney tell me this is illegal or frowned upon by the IRS?
11:53am - 07/May/2010
Your broker will naturally show skepticism when they realize that you will have to move your funds outside of their management. I have heard every excuse in the book from brokers…if you set this up your IRA will be taxed (not true, the funds are transferred from custodian to custodian ensuring that the IRA is still qualified and there are no taxes due on the conversion)…this company will run off with your money (not true, most companies that structure a SDIRA will never even have access
How do I ensure my money will be safe?
11:50am - 07/May/2010
Before your money is deposited in a local FDIC insured bank account of your choice, it will be moved to a registered Trust Company or Bank. To be a registered Trust Company or Bank the institution must meet stringent state and federal requirements and have adequate reserves. Your funds will be kept in a separate account for your benefit for a short period of time (a couple days) before the funds are transferred into a LLC checking account. Even if the Trust Company or Bank goes out of busine
What types of Retirement Accounts can be structured as a Self Directed IRA (SDIRA)?
11:48am - 07/May/2010
As a rule of thumb, you want to make sure that your retirement plan can be rolled over or transferred to another custodian before moving forward in getting a SDIRA. Once you have established that you are eligible, most types of retirement plans can be converted into a SDIRA, here is a list of the most popular.
- Traditional IRA
- Roth IRA
- SEP IRA
Why haven’t I heard about Self Directed IRA's before?
11:46am - 07/May/2010
Since The Employee Retirement Income Security Act (ERISA) was passed in 1974 the big lobbyists for IRA’s were banks and investment firms, since then there has been a common misconception that IRA’s are only allowed to be invested in stocks, bonds, mutual funds, annuities and CD’s. Nothing could be farther from the truth. The main reason you might not have heard of this type of retirement plan is that none of these
Can my SDIRA purchase an interest in a Subchapter S Corporation?
11:44am - 07/May/2010
No. According to IRS Letter Ruling 199929029, April 27, 1999 IRA’s are not qualified as investors in Subchapter S Corporations.
What is the difference between buying real estate or any other investment for me or for my SDIRA?
11:44am - 07/May/2010
When you make an investment with your SDIRA you will want to make sure that the asset is titled in the name of your entity. Make sure all the expenses come from the SDIRA and all the revenue flows to the SDIRA. Also, you will always want to make decisions in the best interest of the SDIRA because once you become manager of your IRA, you become a fiduciary.
How can an individual convert a traditional IRA to a Roth IRA?
11:42am - 07/May/2010
A traditional IRA can be converted to a Roth IRA by:
Rollover - A distribution from a traditional IRA can be contributed to a Roth IRA within 60 days after distribution.
Trustee-to-trustee transfer - The financial institution holding the traditional IRA assets will provide directions on how to transfer those assets to a Roth IRA with another financial institution.
Same trustee transfer - As with the trustee-to-t
Can I partner with my spouses IRA or another disqualified person within the LLC?
11:41am - 07/May/2010
If you are going to make your LLC owned by multiple members (whether they are disqualified or not), the SDIRA will become disqualified for any additional IRA capitalization as where an LLC owned 100% by one IRA becomes a part of the IRA and you are allowed to make annual contributions to the entity.
Can an individual contribute to a traditional IRA if he or she has other retirement plans?
11:38am - 07/May/2010
Yes, individuals can contribute to a traditional IRA whether or not they a recovered by another retirement plan. However, they may not be able to deduct all of their contributions if they or their spouses are covered by an employer sponsored retirement plan. [Note that contributions to a Roth IRA are not deductible and income limits apply.] See Publication 590 for further information.
Self Directed IRA Recent Transactions
11:30am - 07/May/2010
Service Financial, LLC clients Hate paying interest to the bank. In this transaction, the IRA owner was allowed to have their IRA purchase the mortgage on their home. Now instead of having to write a check out to the bank each month, they write a check to their own IRA! Even though the interest is flowing into the IRA tax free, they still get the home interes
Why not just use a custodian?
11:28am - 07/May/2010
Most individuals will put money aside for a tax deduction or benefits at work. Because the money is managed by a traditional Custodian, Administrator or Brokerage firm and the only interaction by the individual is looking at an annual statement, this type of account is in no way self directed. Millions of Americans have spent their whole life saving for retirement just to realize once they turn 65 and are ready to retire, they ended up losing money. Almost all custodians only handle the typi
Why use a LLC for a Self Directed IRA?
10:45am - 07/May/2010
There are other’s utilizing C corps and 401k’s and there are some uses for these but as a standard investment structure these invariably incur taxes. Some companies find these easier for them to structure but why pay the taxes if you don’t have too.
The owner of the LLC is the IRA.
A Limited Liability Company is a company that has option to be
How does a Self Directed IRA Work?
10:43am - 07/May/2010
Our tax and financial experts at Service Financial will show you how you can have liquid flexibility over your IRA while strengthening your asset protection against creditors and litigators. With a Self Directed IRA (SDIRA) you will have a check book, debit card and all the tools that come along with a business checking account at your fingertips. All you need to know with a SDIRA are the few things that you can’t do; the rest is up to your imagination.
A SDIRA i
What is disallowed?
10:34am - 07/May/2010
The more you research this subject, the more you will find that the IRS allows an open field of flexibility with Individual Retirement Accounts and in fact, its not the IRS that frowns upon self directed IRA’s, it’s the investment firms that want to keep control of your money. After all, with a SDIRA, it’s you who is making the greater returns, not them. The most common question has always been, “can I invest in real estate with my IRA. The answer of course is yes.
What is The Secret?
10:26am - 07/May/2010
What is the secret that these informed investors know? It’s a section of the IRS code IRS Code 4975. What is revealed in this code is what you are allowed to invest in with your retirement funds.
The Three Trillion Dollar Secret
2:16pm - 29/Apr/2010
This purpose of this live Post lies in revealing the trillion dollar secret that most Wall Street investment firms and brokers have kept to themselves for decades. An estimated 3 trillion dollars are invested in stocks, bonds, mutual funds and CD’s with tax deferred and tax exempt Individual Retirement Accounts (IRA’s).
12:07pm - 21/Apr/2010
Here are the numbers on a typical t
For the Attention of the Company Owner or President
12:05pm - 21/Apr/2010
For the Attention of the Company Owner or President:
Uses of Self Directed IRA's (SDIRA)
10:18am - 21/Apr/2010
The owner of the IRA sold real estate to their IRA.
Using your IRA as an instrument to invest in Real Estate
10:05am - 21/Apr/2010
Many investors have become disenchanted with recent stock market volatility, stories of corporate scandal and corruption. In addition to impacting retirement account values, these events have also strained investor confidence. It is no wonder then that more and more investors are pushing their advisers to offer Self-Directed IRAs (SDIRAs) that allow them to invest in alternative assets which they believe will provide greater diversification and control over their ret