Jim Hitt Explains a Self-Directed IRA Owned LLC and Checkbook Control

CHARLOTTE, N.C. (PRWEB) February 08, 2018

A Self-Directed IRA owned LLC can afford retirement investors with a lot of options, especially with checkbook control. But American IRA CEO Jim Hitt recently explained on the American IRA blog that these arrangements can be confusing to deal with, even for seasoned investors.

In the post--which asks if an IRA-owned LLC with checkbook control is "right" for investors- Jim Hitt explained the power of a Self-Directed IRA. Because a Self-Directed IRA includes tax protections, controlling an LLC can be tremendously beneficial for retirement purposes. The complications often arise surrounding the issue of checkbook control. This power--the ability to buy and sell within the LLC and, hence, the IRA--puts a lot of responsibilities into the hands of an individual investor.

"Once an investor has checkbook control, it means they're in charge of ensuring that they adhere to all regulations," said Jim Hitt. "A Self-Directed IRA custodian like American IRA can help along the way, but when it comes to these direct responsibilities, we can't come in and handle it for our clients. With more power in the Self-Directed IRA, an owner will be expected to handle these regulations themselves. That can mean a lot of paperwork and even added costs when hiring an accountant."

The arrangement--a so-called "Checkbook IRA"--can be tremendously beneficial as well, notes Hitt. The appeal of the Self-Directed IRA comes with its power; investors can use these arrangements to guide their own retirement plans and even end up ahead of where they otherwise might have. Checkbook control over one's retirement means that an investor is then capable of deciding where to put said retirement money.

As Jim Hitt notes, the IRS allows a wide breadth of investment types within a Self-Directed IRA. "This affords investors with a lot of options for diversification," said Jim Hitt. "But diversification isn't the only benefit. A Checkbook IRA can give an investor plenty of powerful options for making key decisions with their retirement finances. They just have to make sure that they follow all the rules to the T."

For more information on these arrangements and on the Self-Directed IRA, contact American IRA at http://www.AmericanIRA.com or call 866-7500-IRA.

About:
American IRA, LLC was established in 2004 by James C. Hitt in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Mr. Hitt and his team have grown the company to over $250 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, NC.

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