Posted on Wednesday, February 29, 2012

Self-Directed IRA Flow Chart & FAQs

Here's a really good FLOW Chart from Guidant Financial that illustrates how people can convert the money that they have in their current IRA or 401K into a NEW Self-Directed IRA.  It further illustrates how to take it one step further in order for you to have complete Check Book Control so you don't need to depend on a Custodian to fund an investment opportunities when they arise.  The ease of being able to write a check for the funds that are available in your IRA is a big advantage over the traditional IRA that requires approval and from your Custodian in order to fund an investment opportunity as it comes up, which may take a few days for your funds to arrive which may mean a lost opportunity.  

The LLC is an actual business entity that is "bought" by your IRA.  You are the Managing Member that owns and controls the day-to-day operations of the LLC, which allows you to invest in ANY legal investment opportunity as long as it is in compliance with IRS guidelines for your IRA. The great advantage to setting up a Non-Traditional Self-Directed IRA is it does not limit you to just stocks and bonds.



Click Below to Read Entire FAQ in a Magazine Format:


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Posted on Wednesday, February 22, 2012

Self-Directed IRA- Investment Pamphlet

Here's a very thorough Guide from Entrust which talks about Alternative Investments you can invest in your Self-Directed IRA rather than just the typical stocks and bonds that the typical IRA Custodians would recommend. It clears up the myth of what you can and can't invest in an IRA.  Especially with a Self-Directed IRA, it seems like you are not limited to just stocks and bonds, but you can invest in almost any legal investments that are available.  

My Website Designer set this up where he converts a PDF file into a "magazine" style where you can actually "flip" through the pages.  Pretty neat!

Click on the Picture Below to read this like a magazine:






UNTIL NEXT TIME...

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Posted on Saturday, February 18, 2012

Tax Tips-For Real Estate Investors



I know there are a bunch of other things Real Estate Investors would rather do than work on sorting out receipts, cleaning up the books, and looking over taxes.  But when your real estate investment career starts taking off, one of the things that get left behind is how you are going to take care of your books so that your financials are all in order.  It's important to keep on top of those things and don't let that fall behind.  Playing catch up with receipts, bills, invoices is no fun and stressful. It can also be expensive too when you have to work with CPAs and book keepers to help you straighten it out. 

So Below is an email I got from my accountant about keeping receipts and things to do to avoid the accounting and tax nightmares for real estate investors:
  
"Hi everyone,


As we start to work on these properties, here are a few general guidelines to keep in mind that will help simplify the accounting process:
  1. Receipts, receipts, receipts. Always collect receipts when purchasing materials or paying contractors.
  2. Collect W-9 forms prior to making payments to contractors. Avoid cash payments but if you have to make sure they signed for it. 
  3. Avoid using contractors that refused to provide W-9 but if you do use them, do so for small jobs totaling under $600 per year to avoid paperwork.
  4. Invoices received from contractors should include both labor and materials. We don't need to collect their receipts, the invoice is sufficient for our tax record. You may still want to ask for copy of receipts to verify the charges but we don't need to keep them. They will be 1099 for total payments including materials at the end of the year. 
  5. If anyone in our group purchased materials or paid contractors, make sure to submit for reimbursement weekly. You don't want to wait too long as you may misplaced/lost receipts. 
  6. If you're buying materials for multiple projects, split the purchases and pay for them separately.
Hope this helps. Let me know if you have any questions."

UNTIL NEXT TIME...


Check out the pictures below I took of my golfing buddies:

Original Picture



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Posted on

Invest in Real Estate! Self-Directed IRA.




Watch the short 5-minute Video Below, from Guidant Financial, to learn about how to set up a self-directed IRA for self-employed individuals and business owners. This company has extremely low fees (about $105/year) and has the track record and experience to help you set up your IRA keep you in compliance with  IRS Guidelines and Codes but still give you the flexibility.  The unique setup with this company is that you will have complete checkbook control which will allow you to capitalize on opportunities quickly. 

Self-Directed IRA Video (Guidant Financial--IDirect): 


    No, I don't work for Guidant Financial.  I just think they are a great resource that investors would really benefit from.  That's what this blog is all about.  If you have some great resource that you think other investors would benefit, don't be stingy.  We would like to invite you to be a contributing author on this Blog and share with us your knowledge and friendship!

    Just email me or leave me a comment and so I can invite you on.

    UNTIL NEXT TIME...

    Some Cool Pictures from my HTC-3D Phone.  I then enhanced it using Google's software. Enjoy!

    From my HTC-3D Phone Camera

    Photo Above-Google Enhanced

    Photo Taken with HTC 3D Camera.


    Same Photo Above- Google Enhanced
    Regular Picture from my HTC-3D Phone.

    Above Picture-Google Enhanced

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