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Self Directed IRA Articles

Scott Maurer

Recent Posts

The Basics of IRA Tax Benefits

Posted by Scott Maurer on May 7, 2019 8:00:00 AM

IRAs are one of several ways you finance your retirement. You may have a pension plan and/or Social Security benefits along with personal savings, but IRAs play a critical role in your savings strategy to retire in style.

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Topics: Retirement Planning, Self-Directed IRA

How to Maximize the Benefits of a Roth IRA

Posted by Scott Maurer on Apr 30, 2019 8:00:00 AM

The purpose of a Roth IRA is for you to save for retirement. However, the IRS allows a bit of flexibility within these accounts that make them highly attractive. For example (and providing you qualify) you can take penalty-free withdrawals for buying a home for the first time, medical expenses, college, and even for emergencies. Read on to discover the top features and benefits these retirement plans offer.

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Topics: Retirement Planning, Roth IRAs, Self-Directed IRA

Tips on How to Roll Over 401(k) Funds into an IRA

Posted by Scott Maurer on Apr 24, 2019 10:31:37 AM

There are a few different ways you can roll over 401(k) funds into an IRA. But if you don’t follow the rules you can expect the money you take from your account to be taxed and penalized. And, there’s no fun in that.

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Topics: Retirement Planning, Rollover IRAs

Steps to Take Now if You Forgot to Take Your RMD

Posted by Scott Maurer on Mar 26, 2019 11:36:53 AM

You’d think that you’d remember to take your required minimum distribution (RMD). But, too often many people do, especially if you’re working past retirement age and don’t need those funds to live on. However, if you catch it before you file your taxes—you might get a pass from the IRS.

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Topics: Retirement Planning, Required Minimum Distribution (RMD)

What Happens If You Contributed More to Your IRA than Allowed?

Posted by Scott Maurer on Mar 21, 2019 3:08:35 PM

This is an excellent question because it does happen. Often, these mistakes are caught around the time your trusty CPA is preparing your taxes. Hopefully, they catch the error in time to make adjustments that may ease the 6 percent penalty that’s levied if you contributed more to your IRA last year than allowed.

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Topics: Retirement Planning, Contributions & Distributions

Contribution Limits for 2019 and Compound Interest: Don’t Miss Out

Posted by Scott Maurer on Mar 19, 2019 2:58:55 PM

As you know, the IRS raised contribution limits on some retirement plans. This is good news, because the more you can sock away, the more compound interest works for you. Additionally, depending on the type of account you have—contributions are tax-deductible, which can decrease your income tax liability at the end of the year.

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Topics: Retirement Planning, Contributions & Distributions

Top 10 Facts about Investing in Cryptocurrency in 2019 You Should Know

Posted by Scott Maurer on Feb 5, 2019 10:16:28 AM

Investing in Bitcoin was at the forefront of news in the financial world in 2017 because of its record-breaking rise. However, 2018 proved to be somewhat of a disappointment for some cryptocurrency investors as it entered a bear market, producing one low after another. But it is still an investment many consider not to be ignored.

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Topics: Alternative Investments, cryptocurrency, Bitcoin