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Self Directed IRA Articles

Contribution Limits and Deadlines for Opening and Funding Retirement Plans

Posted by Jack Callahan on Apr 9, 2019 4:20:00 PM

The deadline to file your income taxes is right around the corner! If you're looking for a way to reduce your taxable income, there are a few retirement plans the IRS allows you to open and contribute to up to the day you file and have that contribution count for 2018. Consult a tax professional to ensure it's done correctly. In the meantime, below are different plans with their contribution limits and deadlines to review so you can choose the best one for you.

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Topics: Roth IRAs, SEP IRA, SIMPLE IRA, Contributions & Distributions, Traditional IRA

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

Your Guide to Year-End Contribution Limits and Deadlines for Retirement Plans to Ring in 2018

Posted by Jack Callahan on Dec 4, 2017 8:00:00 AM

This year is almost over, with only a few months to go until we ring in 2018. While those of us at Advanta IRA have no desire to make time fly more than it already does, there are some contribution limits and retirement plan deadlines you need to know. This information will help you wrap up 2017 and move into 2018 with solid dates plan limits you need to know to make the most out of your retirement account.

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Topics: Retirement Planning, Self-Directed IRA, Contributions & Distributions

Self-Directed IRA Contribution Due Dates

Posted by Jack Callahan on Mar 10, 2017 8:00:00 AM

You have until April 18, 2017 to make the deadline (or file an extension) for submitting your income taxes to the IRS. You also have until that date to open and/or contribute to a few retirement plans if you want those contributions to count on 2016’s tax returns.

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Topics: Retirement Planning, Industry News, Contributions & Distributions

Contribution Limits for Retirement and Savings Plans

Posted by Jack Callahan on Jan 4, 2017 8:00:00 AM

Out with the old and in with the new—that’s what new years are all about! In regards to retirement planning, one thing the new year brings is updated contribution limits from the IRS. And, the new limits are out now, giving you a chance to start your retirement planning strategy when we ring in 2017.

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Topics: Retirement Planning, Contributions & Distributions

The Benefits and Rules of a Roth IRA

Posted by Jack Callahan on Apr 9, 2015 4:42:38 PM

A recent article published by Money Magazine titled “1 in 3 Older Workers Likely to Be Poor or Near Poor In Retirement” states:

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Topics: Alternative Investments, Roth IRAs, Self-Directed IRA, Contributions & Distributions

Increase Your Buying Power: Partner Your Self-Directed IRA Funds to Make Investments

Posted by Jack Callahan on Jan 29, 2015 7:40:09 AM

Regardless of how potentially successful an investment may be, sometimes even the most sophisticated investor either lacks capital or does not want to part with all of his or her investment funds to acquire an asset. Being frugal with your funds when considering an investment is always a good rule of thumb. Whatever your favorite cliché may be—you don’t want to bet the entire farm or put all your golden eggs in one basket. Even the most promising investment can go south and many do. However, just as many may not. But, do you really want to essentially gamble every dime you have to chance it?

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Topics: Real Estate IRA, Alternative Investments, Self-Directed IRA, Contributions & Distributions

IRS Announces Contribution Limits for Retirement and Other Savings Plans

Posted by Jack Callahan on Nov 2, 2014 9:30:15 PM

There is plenty of good news for many retirement and other savings plan holders regarding 2015 contribution limits. While traditional and Roth IRAs contributions remain the same as 2014, other plans see an increase in limits—and every little bit counts!

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Topics: Educational Savings Accounts (ESA), Health Savings Account (HSA), Roth IRAs, Self-Directed IRA, SEP IRA, SIMPLE IRA, Single Member LLC / Checkbook IRA, Contributions & Distributions, Traditional IRA