Trysten Will Staff asked 2 years ago
Can I set up a blocker C-corp for any active business owned by my Roth IRA or kids’ Coverdells and only be subject to the flat 21% federal income tax? (no WY state income tax and no FICA) Assuming that I don’t get paid or do anything that would be a prohibited transaction. I have real estate rental income and other passive income that cover my monthly living expenses. A flat 21% tax and no further tax on earnings sound great. I set up 5 accounts with Directed IRA you guys are awesome!
I have the same question-
Lets say the c corp is established then first 21% corporate tax is applied but the second double tax on the dividend withdrawl also applies if all the member of the multimember ira llc is ROTH?
Also, is there a fee to establish that c corp blocker?
Please respond to this.