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Self Directed IRA Articles

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

7 Easy Ways to Build Retirement Wealth the Right Way

Posted by Jack Callahan on May 23, 2018 8:00:00 AM

In 2017, the stock market boomed as our country enjoyed encouraging economic growth and sizeable corporate profits. So far in 2018, stocks are continuing to perform well, hopefully adding much-needed funds to your retirement account. Another year to achieve desired returns in your IRA. Another year closer to the day you walk out of that office door for the very last time. Right?

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

Multifamily Real Estate Investing

Posted by Jack Callahan on Apr 18, 2018 9:13:08 AM

If you’re familiar with multifamily real estate investing, this could be the ticket to your potential financial freedom in retirement. Investing in real estate with a self-directed IRA lets you take a more hands-on approach to growing your retirement funds. And, multifamily properties present great potential to help you build that critical wealth.

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Topics: Real Estate IRA, Retirement Planning, Self-Directed IRA

Partnering IRA Funds with a Disqualified Person

Posted by Jack Callahan on Apr 3, 2018 2:00:00 PM

The IRS goes to great lengths to explain the penalties of your IRA dealing with disqualified persons. These prohibited transactions can incur penalty, taxation, and even the loss of the tax-sheltered status of your account. However, there’s one investing tactic these regulations do allow that may surprise you, and that’s partnering IRA funds with a disqualified person.

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Topics: Retirement Planning, Self-Directed IRA, Disqualified Persons