Just trying to get an understanding and basic strategy for doing this with a business.
-Unrelated Business Income Tax
-who are the people that can be involved
-What involvement can 'I' have; my wife?
My personal idea of what would work; build up a business for a few years, and get everything on auto pilot(employees) then set up a company with several other friends or extended family
and I, through my SD IRA, sell part or a subdivision of that business to the new company
which is partly owned by my SD IRA. Move staff to new company
, which is partly owned by my SD IRA.
https://www.entrepreneur.com/article/178224This article is a little confusing, it makes it sound as though you cannot have more than a 50% interest in a company
, which is owned partly by ones SD IRA, so someone else can fire you. Ideally, there would just be a manager and I would be the one firing them or hiring a new manager
for the company that is partly owned by my SD IRA. Can you, the self-directed ira holder, be on a board or someother decision maker(so long as you are not a paid employee)?
bolded edits to clarify