Checkbook LLCs allow “checkbook control,” which means if an IRA owns a checkbook LLC, the owner of that IRA has complete signing authority over the retirement funds in the retirement account. This is important if you use investing strategies like flipping or buying at auction that require you to make fast or immediate payments.
Filed under Investment Strategy, IRAs
Related terms
- Self-Directed IRA2023
- Self-Dealing2023
- Roth IRA2023
- Real Estate IRA2023
- Prohibited Transaction2023
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