| GrainTrader - 1/28/2019 05:20
Am I correct this 401K could someday be converted to corporate stock (such as **** **** Farms Inc.) at a later date and basically i could then convert that money to cash to buy business assets such as machinery?
Might be a good way to save to buy out dads equipment when he retires? Maybe by having the self directed IRA purchase the shares. You can instruct the custodian of the self directed to do many investments not otherwise available. You do not recieve many deductions such as depreciation though, (or even tile onfarmland) so wouldn’t recommend equipment even if it is available as an option. Check with your trusted tax advisor first before doing anything along these lines.
Edited by Boone & Crockett 1/28/2019 05:49
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