Articles Categorized in: Blog
Many individuals may ask: Can I convert my 401k into gold?” The short answer: Yes. This process requires finding an experienced custodian and gold IRA provider. Direct rollover is often the quickest and simplest method for moving your 401k plan into a Gold IRA; however, not all plans qualify. How to Transfer Your 401k to a Gold IRA When rolling over your 401k into a gold IRA, there are a few important points you need to remember. First and foremost...
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Investors can gain exposure to gold through various vehicles, with each option potentially carrying different tax implications. Physical gold investments are considered collectibles and subject to a maximum 28% capital gains tax rate upon sale, but investing in mining company shares or gold-backed ETFs may provide investors with lower long-term capital gains tax rates. Physical Gold Capital gains taxes must be paid when purchasing physical gold and selling it for a profit, depending on your tax bracket. Therefore it is...
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Gold and other precious metals offer an excellent way to diversify your retirement savings portfolio and protect it from inflation while offering tax-deferred growth potential. However, you should first learn the rules and regulations associated with investing in precious metals as assets. As your first step, it is necessary to identify a reliable custodian to store gold and alternative investments for you, one which has been approved by the IRS. Taxes Self-directed IRAs may seem attractive options for investors, but...
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Gold provides many investors with an attractive way to diversify their retirement portfolio and protect it against inflation, political unrest and declining stock markets. However, the IRS mandates that physical precious metals purchased with an IRA be stored at an approved depository and this additional costs to store gold. Taxes IRAs are tax-deferred accounts, meaning any money invested will not be subject to income taxes until your retirement date. However, should you withdraw funds before then the IRS will tax...
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When investing in alternative assets like real estate with your SDIRA, a specialized custodian must be chosen to oversee all transaction-related paperwork and reporting – acting as an impartial third-party without giving investment advice or recommendations. IRS rules restrict IRAs from purchasing real estate owned by disqualified persons – this includes you and other family members. What is a self-directed IRA? Self-directed IRAs allow you to allocate retirement investment dollars beyond the usual stocks, bonds and mutual funds to nontraditional...
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There is a common misperception that physical gold investments held within an LLC provide complete asset protection. Unfortunately, this is incorrect. Recent US Tax Court ruling on a self-directed IRA/LLC structure that held precious metals at home illustrates this point. A judgment creditor of an LLC could only seek reimbursement through distributions by it. Limited Liability Investment of precious metals through an LLC provides limited liability protection, providing protection from lawsuits or creditor claims arising from its purchase. Please be...
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Transfers, conversions and direct rollovers within an IRA account are unrestricted; however, indirect rollovers have a 60-day requirement and must be deposited within 60 days or the distribution will become taxable and subject to an early withdrawal penalty of 10%. No matter whether you want to transfer funds between different IRAs or consolidate retirement plan accounts, it is crucial that you comply with all rules and regulations in order to do so successfully. Failing to do so could incur taxes...
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If you are considering investing in precious metals IRA, it is crucial that you familiarize yourself with IRS guidelines regarding storage. Storing gold at home is illegal and could incur penalties and taxes from the IRS. To mitigate risks associated with storage deposits, investors should invest in a reliable depository that offers segregated, commingled and allocated storage options as well as advanced security measures to minimize theft risks. IRS guidelines The IRS has stringent guidelines and regulations pertaining to IRA...
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If you are contemplating adding gold to your retirement savings, seek professional guidance. A qualified investment advisor/financial planner can offer impartial advice that best addresses your specific needs. Assess your risk tolerance and compare various gold investments options when creating a retirement portfolio. Furthermore, regularly reviewing performance, rebalancing investments and keeping informed of trends when investing in gold for retirement should also be done regularly. Diversification Gold can provide invaluable protection from inflation and currency fluctuations, while also being an...
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Home storage of gold bullion investments can be an ideal option for investors who prioritize easy access, yet may come with additional responsibilities. As such, it is wise to inform as few people as possible of your bullion holdings so as to minimize unwanted attention in case you become sick, incapacitated or pass away. Invest in a Safe or Vault Home is often the best place for gold bullion storage, since you have immediate access in case of emergency or...
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