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Prohibited Self Directed IRA Transactions Info & Help Guide:
Examples: Loaning IRA funds to your business > Back to Notes
In certain situations, it would be nice to lend IRA funds to your own business. People with new business opportunities commonly think to use IRA funds for funding their new venture or take an existing business to the next level.
Result: NOT ALLOWED!
IRC tax code 4975 prohibits self directed ira investors (any disqualified persons) from investing in an entity that they or another disqualified person owns 50% or more and/or has control over the decisions of that entity.
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IRA Provider Comparison
IRAProviderComparison.com has done a great job at putting together comparison charts for different self directed IRA providers. They give fee scenarios and help you decide which provider offers the best service for your needs. I recommend looking at this website before starting an account somewhere.
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New Direction IRA
Self Directed IRA Administrator. We recommend New Direction because their friendly staff have always been so helpful in explaining things and making sure our transactions are within the guidelines of the IRS.
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IRA Tax Services
Our family uses IRA Tax Services to help with the UBIT resulting from our rental property. IRA Tax Services was easy to work with and more knowledgable that my family CPA. Check these guys out!
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