SDIRA or Solo401k for my situation?

[Eric Jan]

Hi BP

Located in Columbia/Rockville, MD if there's a CPA/RE Attorney anyone can recommend. 

I'm self employed (S Corp) with a handful of employees in a non RE related company. I'm married with two kids under 1 yo. I have an equal amount of funds in a Roth IRA and Traditional 401K. I opened up a SDIRA and transferred my Traditional IRA over to Equity Trust. I also opened up a CESA for both kids and HSA for the family with Equity Trust. If you were in my shoes, how would you direct your funds? Would you move your Roth over as well? Would you convert the Traditional to Roth and pay taxes now?

TIA!

[Dmitriy Fomichenko]

Hello Eric, congratulations on starting your real estate investment journey! 

if you have full time employees in any of the business that you own you are not eligible for a Solo 401k. In addition, Roth IRA funds can not be rolled over into Solo 401k. You seem to be young, so doing Roth conversion may make sense for you because you have plenty of time to grow the investments you can make with it tax-free.

Depending on the size of your IRA you may want to consider Checkbook IRA, which will allow you to bypass the custodian when making investments, eliminate transactions and asset-based fees and gain checkbook control over your retirement funds.