Articles Categorized in: Blog

Can You Buy Gold in a Simple IRA?

If you are interested in investing in precious metals, there are various approaches and options available to you; however, certain restrictions and tax liabilities should also be taken into consideration before beginning. Avoid these potential traps by selecting a custodian that provides direct IRA-to-IRA rollovers. This process minimizes human error while decreasing the chance of incurring IRS penalties. Tax advantages Purchase of physical gold through an IRA can provide tax advantages; however, it should be noted that precious metals IRAs...
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How Do You Put Gold in a Roth IRA?

An individual Retirement Account, or Gold IRA, offers investors a novel way of diversifying their retirement portfolio with tangible and finite precious metals that typically retain value and purchasing power over time. Augusta Precious Metals specializes in these arrangements and has numerous resources available for those curious about this investment option. Buying Physical Gold Gold is an invaluable way to protect yourself against inflation and diversify your retirement portfolio, while providing long-term wealth preservation. Many investors view gold as providing...
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Can You Claim Gold on Your Taxes?

As a rule, the IRS treats physical gold and precious metals as collectibles; thus subjecting them to a maximum 28% capital gains tax rate – far higher than any of the typical capital assets (0%, 15% and 20% rates). There are ways to lower your taxes. Careful tax planning can help lower your capital gains tax liability. Cost basis Cost basis refers to the value you paid when purchasing gold and is an important element when calculating taxes on precious...
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Can Gold Be Liquidated?

Gold is considered a highly liquid asset, meaning that it can quickly and easily be converted to cash – making it an ideal investment during periods of economic distress or upheavals. However, it is best to avoid selling gold to pawn shops or “cash for gold” businesses as these typically offer lower prices for your metals and often fail to recognize the true worth of your coins and bars. How to Sell Your Gold Selling gold jewelry, coins or bullion...
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Can You Hold Precious Metals in a Roth IRA?

Precious metals offer an intrinsic value that serves as a strong hedge against inflation, currency devaluation and geopolitical uncertainties – add them now to your retirement portfolio! An Individual Retirement Account, or IRA, allows investors to purchase gold coins and bullion that meet certain purity standards – such as American Eagle proof coins and approved silver and platinum bars from self-directed custodians or trustees – within their IRA account. To do this successfully. Taxes Gold investments within an IRA account...
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Can You Buy Gold With an IRA?

Gold has long been considered an appealing investment option for retirement accounts. However, investing in gold comes with some unique challenges and risks that must be considered before proceeding with any investment decision. Before investing, verify your precious metals IRA company is approved by the Internal Revenue Service as a custodian and be mindful of any associated fees that could reduce growth potential in retirement savings accounts. Legality Most IRA custodians allow only investments in publicly-traded stocks, bonds, and mutual...
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Can an Inherited IRA Be Converted?

The 2019 SECURE Act significantly modified IRA rules. Now, non-spouse beneficiaries must close out the account within 10 years or face tax consequences. Before making decisions regarding an inherited IRA, always seek advice from a financial professional. A sound strategy can help reduce fees and taxes while simultaneously increasing growth potential. Rollover Surviving spouses can treat an inherited IRA as their own by rolling its assets over into an IRA under their name, or transfer the deceased spouse’s plan into...
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Can You Use Your IRA to Buy Physical Gold?

Investors seeking to add physical gold to their IRA should create a self-directed IRA account. Similar to traditional IRAs, but providing greater investment options. These IRA companies usually charge fees for account setup, annual maintenance, storage and insurance as well as markup on precious metals eligible for an IRA account. Taxes Investors considering physical gold must carefully consider its tax implications when investing. According to IRS classification, gains may be taxed at a higher rate than regular income. However, investors...
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Can an IRA Be Owned by an LLC?

An LLC may own an IRA as long as their investment complies with IRS rules regarding prohibited transactions and disqualified persons, such as investing in property that generates unrelated business income tax (UBIT) or unrelated debt-financed income (UDFI). To form an IRA LLC, the IRA custodian must file Articles of Organization with the state where they will operate their LLC. Furthermore, an operating agreement will need to be drawn up. IRAs are tax-deferred accounts IRAs are tax-deferred accounts, meaning you...
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Should I Have Gold in My Retirement Portfolio?

At first glance, investing in precious metals may not seem like the wisest decision for your retirement portfolio. Prices can change daily and they cannot compete with stocks over the long term. Physical gold requires space and storage costs, with most experts suggesting limiting it to less than 5% of your portfolio. It’s a hedge against inflation Gold investments can serve as an effective hedge against inflation, since their value has historically risen as the currency it’s priced in drops...
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