Originally Posted by
scambo1
Strategy: Non-leveraged tax deductible assets that provide income and depreciation for a long time...They make your taxable income smaller, but more than pay for themselves (the best are the ones that pay for themselves in depreciation (appraisal or leveraged value) alone)...car washes, rentals, store fronts, farms, office space, Laundromats, trailer parks, etc.
Outright ownership is the way to go with these. There is work involved, but the tax savings/income potential is great. DYODD.
In several years, I think the gold bugs will have been proven right also.
Bottom line, staying liquid can put your assets in Pelosi's hand.
Yeah what I REALLY want to do is set up a self directed IRA and buy real estate. Then since it is in a ROTH, ALL the profit and cap gains are tax free. The only bank I can find at the moment to do it is Utah Bank. There are some companies (NuView IRA) that will do it, but the cost seems a little expensive for a mere paperwork shuffler, and there is something else about them that just doesn't seem copacetic . I can do all that myself anyway... (it's just gubbamint paperwork) Any of ya'll know other banks that will do self directed IRAs?