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Self Directed IRA Articles

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 4 Reasons to Invest in Multifamily Real Estate Today

Posted by Jack Callahan on Dec 18, 2018 9:25:43 AM

When it comes to real estate investing, you’ve got a plethora of options you can use to net the income you’re looking for. One of the most popular assets we see people invest in is multifamily real estate.

Not only is multifamily real estate used by those who invest with their own capital or other funds, our clients use their self-directed IRAs to invest in these assets. The returns can be quite lucrative when you invest in the right property, have steady tenants, great amenities, and eye-catching curb appeal.

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Topics: Real Estate IRA, Retirement Planning, Multifamily Property

Tax Law Changes Eliminate Recharacterizations of Roth IRA Conversions

Posted by Jack Callahan on Dec 12, 2018 6:57:16 AM

Roth IRA conversions allow you to move some or all of the funds from your traditional IRA account into a Roth account. If you’re going to convert, you must do so by December 31st of the tax-reporting year. And, as you know, that deadline is coming up for 2018, so if you want to convert, now is the time. But, take note: tax law changes regarding these transactions no longer allow recharacterizations for accounts set up after 2017.

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

Fair Market Valuations on Assets in Your IRA

Posted by Jack Callahan on Nov 15, 2018 3:23:00 PM

Fair market valuations (FMVs) are required by the IRS for the assets in your retirement plan. The valuations must be assessed as of the end of the income tax reporting year. You’re not allowed to complete these valuations yourself—you must request a qualified, independent third party to provide them. So, now is the time to start making moves to get it done.

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Topics: Retirement Planning, Industry News

3 Steps to Smashing Success with Your Retirement Finances

Posted by Jack Callahan on Jun 7, 2018 8:00:00 AM

We live in a world of instant gratification. We want what we want, when we want it, and with today’s technology, we usually get it. But, there are exceptions to this rule, and achieving the desired returns on the investments in our retirement plans is one of them. If this describes you, then read on, because we’re going to explain how you can make some changes now to put yourself on the path to achieve success in building your retirement finances.

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Topics: Retirement Planning, Self-Directed IRA, financial freedom