Articles Categorized in: Blog
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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A thesis statement serves to articulate the overall concept behind your essay. It should explain which topic or question will be examined and your stance (i.e. position). Some savers can benefit from getting help from the government when contributing to an IRA. Those with low to moderate income may qualify to claim the Saver’s Credit on their tax returns. 1. Direct Deposit Individual Retirement Accounts, or IRAs, provide anyone with earned income the ability to save for retirement. Earned income...
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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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Financial advisers typically warn those withdrawing funds from retirement accounts such as IRAs and 401(k) plans before age 59 1/2 can expect a 10% penalty, in addition to regular income taxes, in some instances. But the CARES Act and SECURE 2.0 waive that penalty in certain circumstances. Under these circumstances, hardship withdrawals for immediate financial needs such as immediate housing costs or higher education expenses and buying your first home may be necessary. Terminal illness and disability may also warrant...
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Gold investments can bring rewarding returns, yet also come with tax implications. Gains from selling physical gold coins or bullion are considered collectibles and subject to taxes of up to 28%. Tax planning can help investors to minimize capital gains taxes on their investments, and this article looks at three strategies for doing just that. Cost basis Tax rules on gold investments may seem complex, but they’re actually straightforward. Your taxable amount depends on its original cost and your personal...
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Some metals dealers boast of helping their clients establish home storage gold IRAs; these claims, while possibly misleading or illegal depending on your interpretation, should be treated as misleading at best and illegal at worst as the IRS has established strict rules about keeping precious metals within one’s own residence. To qualify for a home storage gold IRA, all necessary IRS requirements must be fulfilled, including annual audits by a Certified Public Accountant (CPA). It’s a self-directed IRA Home storage...
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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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Gold IRAs are self-directed individual retirement accounts that contain precious metals like gold, silver and platinum. When opening one it’s essential that you choose an authorized precious metals dealer/custodian that complies with IRS regulations so as to establish your Gold IRA successfully. The IRS stipulates that individual retirement accounts (IRAs) can only hold precious metals that meet specific purity standards, with all deliveries going directly from dealer to an approved depository. What is a Gold Roth IRA? Gold Roth IRAs...
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Self-directed IRAs allow you to make your own investment decisions and invest in assets not usually restricted by traditional brokerage firms – including real estate, private equity, gold, tax liens and cryptocurrencies. Self-directed IRAs provide the same tax breaks and deferred growth potential of traditional or Roth accounts, with additional access to investment opportunities such as precious metals, real estate and private lending agreements. Taxes Taxes play an integral part of any investor’s financial strategy. No matter whether you invest...
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Many investors turn to exchange-traded funds (ETFs) as a means of diversifying their portfolio. ETFs offer simplicity and cost efficiency while trading like stocks. Your investments within an IRA may grow tax free when you withdraw them upon retirement; however, before investing you should take some considerations into account. Taxes Before investing in ETFs, it is important to first establish your investment goals and risk tolerance. There are various types of ETFs with unique properties. Fees, performance and strategy vary...
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