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Updated over 8 years ago on .
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Best Account to Keep Capital
Happy Tuesday all! My question is, what is the best account to keep the capital we will be using for our real estate deals? Here is the situation, the main investor in our investment group is moving funds from a retirement account for us to be able to use for our investing. Obviously, the taxing of this amount is what we are trying to avoid. We are looking into a Self Directed IRA however it seems fairly prohibitive.
From this money, we will be paying out investors as well as percentages to a couple associate's. Is that possible through a SDIRA? What other accounts would you recommend? Does putting capital in a regular business checking account make sense if we will be distributing funds from that account taking into consideration tax penalties from the retirement account but also considering the tax breaks we will get investing? Thoughts, tips, ideas. All are welcome!
Thanks!
Joe