CHARLOTTE, NC / ACCESSWIRE / March 4, 2021 / How does investing in an LLC work? It is not the same when it is held within a Self-Directed IRA, as noted by a recent post at American IRA. American IRA, the Self-Directed IRA administration firm based in Asheville, NC, recently took to its blog to explain how Self-Directed IRA LLCs work, and what investors can do to better understand why so many people turn to this style of investing.
In the post, the article explained the 'Checkbook IRA' arrangement. It noted that while the Checkbook IRA is not a different type of retirement account, it is a style that many investors use. In a Checkbook IRA, an investor might hold a Single Member LLC within a Self-Directed IRA. This LLC would then have its own business checking account. Because the IRA holds the LLC, and the investor holds the IRA, this makes it possible for the investor to exercise 'checkbook control' within a Self-Directed IRA with ease. The result is that the investor can write checks for investments in a very intuitive, flexible way.
The article went on to explain the unique quirks of the LLC, and why investors like retirement investors flock to these types of accounts for investment purposes. An LLC is a simple arrangement for many investors, which makes it possible for those investors to engage in the legitimate activities they want to engage in with the protections of a separate legal entity. With a Self-Directed IRA, there is the additional layer of the retirement account, and for that reason, many investors can find the process confusing.
'Our goal is to educate people about these sorts of arrangements,' said Jim Hitt, CEO of American IRA. 'We like people to know that these options are available to them. We don't tell people what to choose for their specific situations, but we believe a well-informed public, especially when it comes to investing, is always a good thing.'
'American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $500 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties, or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term 'they' refers to American IRA, located in Asheville and Charlotte, NC.'
SOURCE: American IRA, LLC
View source version on accesswire.com: