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wtf_larperon Say goodbye to self-directed IRA and tax-free Roth growth

You won't be able to access any of the money until 65 years of age, after retirement. And if it's a traditional IRA account, you'll pay taxes on them on withdrawal. For Roth, there is an annual CAP ($6000 for 2021) on how much you can put into the account/LLC. You've already paid taxes on the money you've put into Roth. The whole point of Roth is so that you get tax-free gains so that when you withdraw at retirement, you don't have to pay taxes again.

wtf_larperon Say goodbye to self-directed IRA and tax-free Roth growth

More info: https://www.midlandtrust.com/save-my-self-directed-ira/

https://markjkohler.com/congress-is-attacking-the-ira-of-ave...

https://www.advantaira.com/wp-content/uploads/2021/09/WM-Tax...

wtf_larperon Say goodbye to self-directed IRA and tax-free Roth growth

The House Ways and Means Committee recently released proposed tax legislation intended to pay for President Biden’s $3.5 trillion infrastructure bill. Several provisions severely restrict your freedom to self-direct the investments in your IRA.

Under these provisions, you would no longer be allowed to invest your IRA into private placements and single-member LLCs, regardless of your level of income or wealth. To make matters worse, these provisions require anyone currently holding these assets, which are often illiquid, to distribute or otherwise remove them from their IRA accounts within two years. This will result in significant tax consequences for many people, including low and middle-income investors.