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m$teamworkotc

05/22/08 2:40 PM

#68916 RE: 427Cobra #68915

thanx, btw can you post the PROS of owning rsmi stock? tia :)
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ElderWolf

05/25/08 7:44 PM

#68973 RE: 427Cobra #68915

My lawyer and tax advisor have a neat thing to do with a Roth IRA and an LLC. I'd be interested in your opinion on this as I've been doing it for about a year.

They got me down to less than $150k AGI on paper to fund a Roth. I then turned around and started a new LLC and had the ROTH purchase 100% ownership in the LLC. Since a ROTH grows tax free... all profits from the LLC can legally be distributed to the owners...which is the ROTH. I can do anything I'd like to do to make money which is usually not the case with an IRA.

Also, I can make a loan to the LLC from my personal funds, as long as an agreement is drawn up, and I'm repaid from the LLC with interest. Any profits resulting from the loan can be used to grow the LLC, and can also be passed to the ROTH. This gets around the yearly limits imposed by the government which dictates how much i can put in a ROTH...but doesn't dictate how much I can put in an LLC.

It's nice way to legally avoid paying huge taxes...and a REALLY nice way to perform any business venture/money making transaction (stocks, real estate, ebay etc.) to grow a ROTH very very quickly.

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LORTAP KCOTS

07/02/08 12:51 PM

#70909 RE: 427Cobra #68915

you still 100% convinced your golfing partner isn't cheating you blind...lol
RSMI is now .0006, how much value has Bradley given your friendship.