It's all aboutTaxFreeGrowth
What if you could use your retirement to invest in real estate tax free, yet stay in full control of your account and pay $0 in transaction fees?
- Precious Metals
- Real Estate
- Money Lending
- Private Equity
- Alternative Assets
Flexible IRA Accounts
What is Checkbook IRA?
Most retirement accounts require custodian involvement for every transaction, which means paperwork, fees and wasted time. As the manager of a checkbook IRA LLC, you are empowered to make investments by simply writing a check.
With a self-directed IRA or 401(k) you can invest your retirement funds in a broad range of assets beyond the stocks and bonds offered by traditional providers, including real estate, private companies, precious metals, non-recourse lending and more.
Invest in what you understand
At Turnkey IRA, we believe in the power of investing in what you understand. Our Self-Directed IRA and 401k LLC structures open a broader world of investment options. From real estate to cryptocurrencies and beyond, you can leverage your unique skills and expertise to make investment decisions that could enhance your retirement savings growth.
No fees, no hassle
Experience the freedom of investing without constant hurdles and fees. With a checkbook control LLC from Turnkey IRA, you eliminate the need for custodian consent for every transaction. This means you can make immediate investment decisions and bypass many typical transaction and asset-based fees. The LLC structure allows for a smoother, more cost-effective investment process.
Tax-advantaged
Retain all the tax advantages of conventional retirement accounts with Turnkey IRA's Self-Directed IRA and 401k LLC structures. The LLC is simply a vehicle for your investments, allowing the income to flow back into your IRA or 401k. Whether you have a Traditional IRA, offering tax-deferred growth, or a Roth IRA, offering tax-free growth, you continue to enjoy the tax benefits.
Evaluate investment, file paperwork, wait for approval, pay custodian fees, build wealth.
With a self-directed IRA LLC you can make investments without filling out forms, paying transaction fees and waiting for processing. Chat to our experts about the advantages of an IRA LLC over other retirement accounts.
Our Accounts
Account Types
Navigating the landscape of self-directed IRA LLCs begins with understanding the available account types. The choice primarily involves Traditional IRAs, with their benefit of tax-deferred growth, and Roth IRAs, offering tax-free growth. This key distinction, coupled with varying contribution limits, will determine the kind of account best suited to your financial situation and goals.
Talk to an ExpertFor Everyone
Open to most investors. May be combined with other accounts.
Traditional IRA
Best for those who anticipate being in a lower tax band during retirement.
Traditional IRA
Contributions tax deductible, tax is paid on withdrawals.
- Tax-deferred growth: Contributions to a Traditional IRA are tax-deductible and the earnings grow tax-free until they are withdrawn in retirement.
- Required Minimum Distributions: Beginning at age 72, you are required to start taking distributions from a Traditional IRA.
- Contribution limits: The contribution limit for a Traditional IRA for the 2022 tax year is $6,000 for those under 50 and $7,000 for those aged 50 and older. In the 2023 tax year this rises to $6,500 for those under 50 and $7,500 for those aged 50 and older.
A Traditional IRA allows investors to avoid tax now and pay it later during retirement, at which time they may be subject to a lower tax band.
Roth IRA
Best for those who anticipate being in a higher tax band during retirement.
Roth IRA
Contributions to a Roth IRA are not tax-deductible; however, withdrawals in retirement are tax-free.
- Tax-free growth: Contributions to a Roth IRA are made with after-tax dollars, allowing for tax-free growth of earnings over time.
- No Required Minimum Distributions: Unlike Traditional IRAs, there are no required minimum distributions (RMDs) with a Roth IRA, providing flexibility in managing your withdrawals.
- Contribution limits: The contribution limit for a Roth IRA for the 2022 tax year is $6,000 for those under 50 and $7,000 for those aged 50 and older. In the 2023 tax year this rises to $6,500 for those under 50 and $7,500 for those aged 50 and older.
A Roth IRA offers the advantage of paying taxes upfront, allowing for tax-free withdrawals in retirement, potentially resulting in a higher net return on investment.
For The Self-Employed
Available to business owners with no employees.
Solo 401(k)
Higher contribution limits for self-employed people.
Solo 401(k)
Contributions to a Solo 401(k) can be made on a pre-tax (Traditional) or after-tax (Roth) basis, offering flexibility in tax treatment based on your preferences and financial situation.
- Tax-advantaged growth: With a Traditional Solo 401(k), contributions are tax-deductible, and earnings grow tax-deferred until withdrawn in retirement. With a Roth Solo 401(k), contributions are made with after-tax dollars, and qualified withdrawals in retirement are tax-free, allowing for potential tax-free growth of earnings.
- Required Minimum Distributions: Both Traditional and Roth Solo 401(k) plans require you to take required minimum distributions (RMDs) beginning at age 70½.
- Higher Contribution Limits: Solo 401(k) plans offer higher contribution limits compared to other retirement plans, allowing you to save more for retirement. For the 2022 tax year, the contribution limit is $61,000 or $67,500 for those over 50. In the 2023 tax year this increases to $66,000 for those under 50 and $73,500 for those 50 and older.
A Solo 401(k) empowers you to choose between a Traditional or Roth structure, providing tax advantages and higher contribution limits to help you build a secure retirement future according to your unique needs and goals.
In the fast-paced real estate market, the ability to write a check on the spot can be the difference between securing a great deal and missing an opportunity.
Investment Types
What Can I Invest In?
The power of self-directed retirement accounts lies in the broad array of investment opportunities they present. Unlike managed IRAs from banks, which typically restrict the available investment options to stocks, bonds and mutual funds, self-directed accounts unlock the potential for investment in real estate, private businesses, precious metals, private lending and many more legally permitted assets.
Get StartedA Checkbook Self-Directed IRA LLC provides unparalleled flexibility when it comes to real estate investments. This account structure allows you to make quick decisions, often crucial in the fast-paced real estate market, without needing custodian consent for each transaction. The ability to write a check on the spot can be the difference between securing a great deal and missing an opportunity.
Here are a few of the diverse ways our clients use their self-directed IRA or 401(k) to build a profitable real estate portfolio.
- Single-family homes: These properties can be rented out for steady income.
- Multi-family properties: Apartment buildings and duplexes provide multiple streams of rental income.
- Commercial properties: Office buildings, retail spaces, and warehouses can offer substantial returns.
- Raw land: Purchasing undeveloped land can be profitable, especially in areas likely to see growth.
- Real Estate Investment Trusts (REITs): These trusts allow you to invest in large-scale, income-producing real estate.
- Private mortgages: Act as the lender and earn interest on loans to real estate buyers.
- Fix-and-flips: Purchase properties below market value, renovate them, and sell for profit.
- Rental condos: Condominiums can be lucrative rental properties in the right market.
- Mobile home parks: This niche investment can generate high yields.
Setup Process
How does it work?
Establishing a self-directed account may seem daunting, we're here to make the process straightforward. Our experts will guide you through each step, ensuring you have the assistance you need. No need to worry about deciphering jargon; we'll provide a step-by-step walkthrough and answer any questions you have.
Open an Account- 1Establish a Self-Directed IRA
The process starts with the drafting of a specialized Self-Directed IRA Operating Agreement containing specific IRA language, registering the LLC with the state and obtaining an EIN from the IRS.
- 2Transfer Retirement Funds
Transfer/rollover funds from former employer retirement plans or IRAs to new Self-Directed IRA Custodian that allows for investing in an LLC.
- 3Create a Checking Account
As the named manager of the LLC, you establish a checking account for the LLC at any bank of your choice.
- 4Fund Your Account
The Self-Directed IRA custodian then processes the investment directive and funds the Self-Directed IRA Owned LLC by wiring the funds to the LLC checking account.
- 5Make Your First Investment
After the Self-Directed IRA Owned LLC checking account is funded, begin processing investment purchases.
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