Articles Categorized in: Blog
Self-directed IRAs may provide more investment options and flexibility, but investors should be wary of potential additional risks. Investors should research investments carefully, avoid prohibited transactions and expect less liquidity than when dealing with stocks, bonds or mutual funds. Prohibited transactions such as paying yourself or renting property owned by an SDIRA could undermine its tax benefits and be disastrous. Taxes Remind yourself that, just like other retirement accounts, self-directed IRAs must abide by specific IRS guidelines and rules. Any...
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Gold investment can be an effective diversification strategy. Investors can incorporate physical gold into their retirement account by rolling over funds from an existing traditional or Roth IRA. Working with a precious metals dealer, custodian or depositary requires working through various entities that charge fees for their services – which may differ depending on where you reside and who your preferred custodian/depositary may be. Taxes If you transfer funds from a 401(k) or traditional pretax IRA into a gold backed...
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Physical gold and silver have long been valued as tangible stores of wealth, providing protection from currency fluctuations and economic instability. Unfortunately, this investment can become costly when fees, commissions, sales tax and capital gains taxes are taken into account. Investors interested in precious metals should keep careful records to track the purchase and sale prices as well as cost basis. This will allow them to minimize taxable gains when selling. State Taxes State sales taxes can quickly add up,...
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People typically ask themselves, when considering purchasing physical gold, one of the main concerns being: Can the government confiscate gold bars? Historically, governments have typically only confiscated gold during a crisis; they rarely target instruments such as bonds and savings accounts that could be affected by currency devaluation. History of gold confiscation Gold confiscation myths differ from many conspiracy theories by having some historical basis. At the height of Great Depression need, Franklin Roosevelt took action that some may find...
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The IRS prohibits certain investments within an IRA. Common examples include purchasing real property and collectibles (with exceptions for metals, gems, stamps, alcoholic beverages and certain coins). If your IRA engages in any prohibited transactions, its tax-deferred status and thus fully taxable status are lost, which includes nonfungible tokens (NFTs). Works of Art Art is defined as any physical object with aesthetic value; examples include sculptures, paintings and photographs. Other forms of art may include land art – where an...
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Gold has long been considered an appealing investment option among many investors, providing protection from inflationary pressures and geopolitical instability. Investors must also be mindful of the tax repercussions associated with investing in gold. Profits generated by such investments are generally subject to long-term capital gains taxes at ordinary long-term capital gains rates. What is the tax treatment of gold? Gold can provide an anchor during turbulent times, as its value helps diversify a portfolio of investments. But investors should...
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Your current IRA could easily be transferred or rolled over into a gold IRA – all it takes is reaching out to your administrator and communicating your desire. Discover a trusted IRA provider specializing in precious metals such as Augusta Precious Metals who can assist with documentation, transfers, custodian communication and any other elements involved in managing an IRA account. Tax-advantaged Gold IRA rollover is an effective way to diversify your retirement savings portfolio and protect it against inflation or...
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Selecting an IRA custodian that best meets your investment needs is critical. Your selection could have significant ramifications whether you invest in marketable securities such as stocks, bonds or mutual funds; alternative investments like private notes or real estate or cryptocurrency; your choice will have lasting repercussions. Fees, investment options and customer service should all play an integral part in selecting an IRA custodian. Ideally, those charging the lowest fees are the most reliable IRA managers. Fees Custodians are certified...
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To invest in physical gold through an IRA, it’s necessary to use a company specializing in self-directed gold IRAs. Such firms charge annual fees for custody, storage and insurance services. Furthermore, these companies often charge high markups for precious metal sales; this can add up quickly. What is a Roth IRA? Roth IRAs provide tax-advantaged retirement accounts that enable investors to purchase physical precious metals such as Gold. To invest in Gold through an IRA-approved Gold investment company and self-directed...
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Cryptocurrencies offer tremendous growth potential that has outshone other markets, but their price can also be unpredictable and therefore highly risky. A cryptocurrency IRA provides a safe way of investing in these assets without taking unnecessary risks. Depending on your eligibility, funds from an old employer 401(k) account can be moved directly into a crypto IRA without incurring a taxable event. Reach out to BitIRA today for more information or assistance. 401k to Crypto IRA Transfer Cryptocurrency presents immense growth...
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