Articles Categorized in: Blog
Most collectors and investors who amass U.S. Mint-produced coins use them primarily for collections or investments – not so much to buy Slurpees at 7-Eleven. Financially responsible individuals understand the importance of saving funds to cover unexpected expenses, yet how can they do so with greater peace of mind? Tax-Free Utah is well-known as the home of Salt Lake City and Mormon church activities, but it also boasts a long history in gold mining. Geologic processes in Utah concentrate gold...
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The Internal Revenue Service (IRS) treats gold and other precious metals as collectibles, applying a higher tax rate – typically 15%-20% depending on their holding period – than most investments. There is no legal way around paying taxes when selling gold. But careful tax planning may help minimize what you owe. 1. Invest in ETFs Recent years have witnessed gold ETFs become an increasingly popular investment option as investors search for safety during periods of increased stock market risk and...
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Be wary of investing your IRA directly in any business that pays you or your dependents directly a salary; doing so can trigger unrelated business taxable income (UBTI), creating serious IRS challenges. By investing in an LLC and keeping all traditional and Roth IRA tax benefits intact, it is possible to avoid prohibited transactions and retain all possible tax savings. IRS Rules As is well-known, the IRS has strict rules surrounding how you can utilize your Self-Directed IRA. They prohibit...
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Keep your coin collection safe from extreme temperatures or humidity by keeping it cool, dry and secure – consider keeping it in a metal safe for extra peace of mind. Avoid disclosing your gold storage location to anyone – this could lead to theft or prevent loved ones from accessing them if you become sick, injured, or die. Storage Options There are various storage solutions for gold and precious metals available today, each offering unique benefits for you based on...
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Roth IRAs have become a beloved investment vehicle, giving investors the ability to legally sidestep taxes on dividends and capital gains without paying an excessive tax burden. But there are some rules you should be aware of before trading ETFs within this account. QQQ’s heavy reliance on large tech stocks like Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), and Tesla (TSLA) makes it susceptible to bear market risk. It’s a Nasdaq-100 ETF The Nasdaq-100 (NDX) index represents 100 of the largest...
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Most people think of gold in terms of physical bars and coins; however, keeping gold physically stored can be costly and subject to theft, especially when stored in safety deposit boxes at banks or vaults. There are various ways to invest in gold without needing to physically own or store its physical form, including investing in mutual funds or exchange traded funds that track gold prices, trading futures contracts or purchasing shares of mining companies. Exchange Traded Commodities Investors can...
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Gold has long been considered a viable asset class to diversify retirement portfolios and help protect them against inflation, yet investors must carefully assess all associated risks and fees before opting for an IRA containing gold-backed investments. Your best options when investing in precious metals include Augusta Precious Metals, Goldco and American Hartford Gold. American Hartford Gold Gold IRAs provide an alternative investment option to diversify your retirement portfolio. Unlike stocks, bonds and mutual funds, gold IRAs offer more protection...
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An Individual Retirement Account, or “Gold IRA,” is an individual retirement account which stores physical precious metals like coins and bars. As with any IRA, fees must be paid to open and maintain it. Gold can offer diversification that helps protect against market instability. But it is essential to fully comprehend any costs that might be involved. How Much Money Do I Need to Start a Gold IRA? How much money you need for a gold IRA depends on your...
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Gold can provide your investment portfolio with a much-needed diversification boost. You have two main options to buy gold: physical bullion or coins or investing in mining stocks of companies that mine gold – although latter comes with greater risks. Gold investments often become the go-to investment option during periods of financial distress or instability, but should this really be considered? 1. It is a speculative asset Gold does not offer dividends or interest, and costs money to store and...
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Home storage of gold is an increasingly popular trend among investors. Unfortunately, however, it comes with its own set of challenges related to space and security concerns. One of the main challenges associated with bullion investment is keeping its whereabouts secret, particularly among family and friends. If possible, try not to tell anyone where your bullion stash resides – including yourself! Invest in a Safe When investing in gold bullion or jewelry, it is vital to secure its storage effectively....
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