Articles Categorized in: Blog
Gold bars are an attractive investment choice for those seeking pure value investing in bullion. Most bars come with their weight and purity inscribed, making calculations easier. However, if your plan is to eventually sell the gold bullion you purchase it may be more cost-effective to purchase a series of 1 ounce bars rather than purchasing one large bar. Cost However, unlike gold bars that don’t possess any additional numismatic value and simply sell for their weight in gold, coins...
Read More
An individual retirement account (IRA) can be an efficient, tax-efficient way to save for retirement, depending on your financial goals, timeline to retirement and risk tolerance. When selecting an IRA plan that best fits you and your retirement needs. Traditional IRAs function like personalized pensions while Roth IRAs may provide significant tax breaks upon reaching retirement. When making decisions for yourself and/or planning for income tax rates to increase in retirement, both types may prove effective options. Traditional IRA A...
Read More
Purchases of gold coins or bullion can help diversify your retirement account, yet often come with higher fees and more complicated recordkeeping requirements than more traditional stocks and bonds. Find a trusted precious metals dealer to assist in selecting physical gold coins that meet IRS purity standards, as well as an individual or institution to store or hold onto it all for you. Taxes As much as the advantages of owning gold in an IRA are clear, there are also...
Read More
A medallion stamp is a special certification seal used to verify the signature on a stock certificate endorsement or power of attorney document as being authentic, usually during transfers involving physical certificates. Banks offering medallion services typically limit them to their existing customers and may charge a minimal fee for these services. Obtaining a Medallion Signature Guarantee Medallion Signature Guarantees (MSGs) are special stamps used by financial institutions that certify the signature on documents authorizing the transfer of securities are...
Read More
Your IRA investments may fluctuate, especially during times of market instability, which may make you anxious. But staying on course is best. Investment losses incurred in tax-advantaged accounts such as an IRA must be deducted when filing taxes as part of your itemized deductions; specifically, it must exceed 2% of your adjusted gross income to qualify. Determining the Tax Basis Your IRA basis consists of your post-tax contributions; therefore, any non-return of tax-deductible contributions when taking distributions should qualify for...
Read More
When purchasing gold, it is crucial that you find a dealer with whom you feel confident dealing. One way of doing this is checking their website for testimonials from past customers or asking about years of experience with their business. Be wary of dealers offering “shaved coins”, which are sold at high premiums but do not contain their advertised weight of gold. Bait-and-switch scam A bait-and-switch scam occurs when sellers advertise products or services at unbelievably low prices in order...
Read More
An equity trust IRA allows you to invest in alternative assets such as precious metals and real estate, in addition to traditional market investments like stocks. Your IRA must comply with IRS guidelines in order to avoid prohibited transactions. IRA accounts offer several tax benefits, such as funds growing tax-deferred and potentially being eligible for deductions and withdrawals after reaching certain ages. Learn more about these advantages and how you can take full advantage of them. Self-directed IRA custodian Selecting...
Read More
Owinging precious metals in an IRA requires both a self-directed retirement account and depository storage facility. Furthermore, physical possession of coins or bullion bars eligible for inclusion can trigger early distribution penalties and taxes upon early distribution. To avoid fees associated with these investments, look for an online broker or robo-advisor that specializes in finding cost-efficient investments tailored to your risk profile. What is an IRA? An individual retirement account (IRA) is a tax-deferred savings vehicle designed for individuals. You...
Read More
When purchasing precious metals in your IRA, do your homework. Make sure your dealer and depository are trustworthy with sound security measures in place. Always research annual fees and additional expenses before signing a contract with any provider. Most service providers impose minimum account minimums; opt for those that have low or no minimum requirements to ensure maximum savings. Taxes When investing in gold coins through an IRA, the IRS taxes it as unrelated business taxable income, or UBTI. This...
Read More
While physical gold investment can be accomplished via an IRA, it requires many fees – ranging from one-time account setup fees and annual custodian fees, seller’s commissions and storage costs, all the way through insurance premiums. Gold exchange traded funds (ETFs) may offer more cost effective investment solutions; however, many investors prefer owning physical gold. IRA Rules Gold can be an invaluable addition to a retirement portfolio. It provides diversification, protects against inflation and boosts overall returns; but it is...
Read More
