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Self Directed IRA Articles

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

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

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

Make Your IRA or 401(k) Contributions for 2017 and 2018 before Income Tax Filing Deadline

Posted by Jack Callahan on Mar 7, 2018 8:15:00 AM

Did you max out the contribution limits in your IRA for 2017? If not, you still have time. In fact, you can make last-minute contributions to your IRA for 2017 and get a head-start on your contributions for 2018 right now, before you file taxes for 2017.

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Topics: Roth IRAs, SEP IRA, SIMPLE IRA, Traditional IRA, Individual(k) / 401(k)

Understanding the Self-Directed Roth IRA

Posted by Jack Callahan on Oct 6, 2017 8:35:37 AM

Of the many avenues one can choose to save for retirement, the Roth IRA is one of the most popular retirement savings plans for today’s investors. Contributions to a Roth IRA are made after taxes, and the income you earn is tax-free.

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

Do You Know What to Do if You Inherit an IRA?

Posted by Jack Callahan on Feb 17, 2017 6:09:00 PM

There are several things you should know if you inherit an IRA. Not knowing the proper way to handle these funds can be costly and defeat the purpose of your benefactor in wanting leave you their hard-earned savings. The rules differ for spouses and non-spouses (such as children), but understanding them can be helpful and save you a bit of money.

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

3 Reasons to Consider Opening More Than One Self-Directed IRA

Posted by Jack Callahan on Jan 6, 2017 8:00:00 AM

As if self-directing one IRA wasn’t powerful enough, did you know you can self-direct two? (Or three? Or more?) As a matter of fact, there is no limit to the number of IRAs you can own. It’s not uncommon for savvy investors to open more than one, depending on their retirement goals and investing decisions.

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Topics: Roth IRAs, Self-Directed IRA, Traditional IRA

How Advanta IRA Helps You Convert Assets from Traditional IRAs to Self-Directed Roth IRAs

Posted by Jack Callahan on Jul 27, 2016 9:23:13 AM

Roth IRAs offer several unique benefits that traditional IRAs do not. Contributions are made after tax, can be made after you reach 70 1/2 years of age, and distributions are not required by that age, either. Additionally, all earnings grow tax-free—and can be withdrawn at the age of 59 1/2 years with no tax implications, provided the account has been funded for five years.

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Topics: Roth IRAs, Self-Directed IRA, Traditional IRA

Converting Assets from a Traditional IRA to a Self-Directed Roth IRA

Posted by Jack Callahan on Jun 3, 2016 11:51:06 AM

There are tremendous tax advantages Roth IRAs have over traditional IRAs causing investors to move assets from taxable accounts into tax-free Roth plans. These plans can be self-directed, gaining additional benefits and flexibility to those saving for retirement.

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Topics: Alternative Investments, Roth IRAs, Self-Directed IRA, Traditional IRA

Federal Income Tax Filing and IRA Contribution Deadline Extended

Posted by Jack Callahan on Mar 29, 2016 9:15:39 AM

Most of us are well aware that not only are our federal tax returns due on April 15 every year, but that is also the deadline for contributions to be made in our individual retirement accounts for that tax-filing year. However, this year, these deadlines have been extended.

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Topics: Retirement Planning, Roth IRAs, Industry News, Traditional IRA