Checkbook Control for Your Retirement Plan with Bernard Reisz, Episode 61
Bernard Reisz is a CPA with extensive experience in alternative investments. He founded ReSure LLC & ReSure Financial Advisors. With a background in financial and tax analysis for institutional and personal investors, Reisz helps to empower investors to take control of their retirement accounts in accordance with their asset preferences. On this episode, Bernard shares tips to leverage tax-advantaged vehicles to maximize your retirement investments.
Key Market Insights
CPA with extensive experience in alternative investments
Founder of ReSure LLC & ReSure Financial Advisors LLC
Retirement Accounts: 401k and IRAs are tax-advantaged vehicles that earn interests and dividends without paying tax until you withdraw the investments
ROTH IRA - no pre-tax deductions, but no taxes on earnings either
Eligibility: 401k plan, business income; IRAs, any income from owner or spouse
401k plan contribution components: Employee and employer contribution
Traditional IRAs - minimal trading fees. Most fees hidden in actual investments made on their platform
Self-directed IRA - flat fees for transactions and/or account balance. No fees on actual investments
Self-directed IRA: Custodian vs. Checkbook Control
Custodian - administers a retirement account, including reviewing and processing documents and investing the money
Checkbook IRA - set up a private equity investment; transfer all the IRA funds to the entity; IRA owner controls the funds
IRA prohibited transactions and disqualified person
Checkbook IRA is ideal for multiple deals; Custodians are best for single to limited investments over time
Differences: UBIT - Unrelated Business Income Tax, UBTI - Unrelated Business Taxable Income, UDFI - Unrelated Debt-Financed Income (refer to a real estate CPA)
Bull’s Eye Tips:
Winning Your Market: Have an investment strategy
Tracking Marketing Changes: Read tax codes and learn its significance in retirement account.
Daily Habit: Take kids to school. Gives sense of meaning and purpose.
"Determine which retirement account should be set up and your eligibility."
"Checkbook control hands the transaction duties to the investor, not the IRA custodian."
Places to Grab a Bite:
Connect with Bernard:
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