Self-directed IRAs are not only useful for retirement. They can also be used to grow your wealth long before you retire, if you do it right and you comply with all the rules. Watch this video to learn more rules that apply to your SDIRA and how you can avoid them! Key Talking Points of the Episode [00:00] Introduction [00:18] What is Unrelated Business Income Tax? [00:56] How can you incur UBIT? [02:20] What other issues can you encounter when using your IRA? Quotables “Unrelated Business Income Tax, also some of them call it Unrelated Debt Financing Income Tax – in certain circumstances, your IRA may incur an income tax.” “These rules are designed to prevent the IRA that’s normally tax-exempt from operating businesses in a way that competes with other every day businesses outside of IRAs.” “They don’t wanna give IRAs advantages over other regular businesses, so if you’re operating a business and you’re getting business income into your IRA, it may be subject to this ...
Timothy Sumer is a philanthropist and motivational speaker empowering young entrepreneurs across the nation. He speaks on starting new businesses and the importance of branding in the digital age. Timothy Sumer has a BA in Accounting from NYU and a Masters in Information Technology from MIT. Tim enjoys traveling around the globe, driving exotic sports cars, molecular gastronomy, exploring new cultures, and keeping on top of the latest technology trends. Hope you enjoy Timothy Sumer's page :)