estate tax summary
What’s a summary of “self-directed” IRA for real estate?
I heard that there is this type of IRA that is great for real estate purchases and/or investing where you can uses it to buy multiple homes and cash out all the profit with out much taxes…. is that true?
It is true…you can use a self directed IRA to defer your tax obligations until your retirement age. Any money that you place into the IRA and any profit that you make can be kept into the IRA account and your not required to pay taxes until you make with drawls at your retirement age. Of course you always want to consult a CPA professional on the specific requirements of this program. But I believe you have it correct in a generalized format. A lot of hard money lenders use that vehicle or a trust to minimize their tax obligations.
Herman Cain – THE FAIRTAX REVOLUTION
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