Real estate IRAs are popular with people who want diversity and leverage against potential losses in the stock market. You can choose your own assets including commercial and residential property, raw land, as well as tax liens and deeds.
You can successfully invest in real estate with an IRA if you pick the right property under the right conditions—and the investment proves fruitful. You can choose many different assets that have the potential to build income in your retirement account, and you don’t necessarily have to … Read More
Contribution limits for retirement and other tax-sheltered savings plans are subject to change every year. Sometimes there are no changes; other times you’ll see the IRS bump the annual limits up a bit. The IRS recently released retirement plan contribution limits for 2023 and there are some … Read More
Many people prefer the Roth IRA to other retirement savings plans. The income grows tax free, and distributions in retirement from a Roth IRA are tax free, as well. Distributions from the plan are not included in your income, which can greatly reduce your income tax liability … Read More
Real estate IRAs are a favored strategy investors use to build tax-sheltered retirement income. Individuals who aren’t familiar with self-directed retirement plans are often excited to learn an IRA can own real estate. And, depending on what type of plan you use, you can earn tax-deferred income … Read More
The housing market is presenting a few challenges to consumers right now. The inventory is there (for the most part), but consumers are challenged with higher-than-average home costs combined with historically high inflation and interest rate hikes. At the same time, rent rates have also skyrocketed. So, … Read More
It’s that time of year again. 2022 fair market valuations (FMVs) are required by the IRS for the assets in your retirement plan, as they are every year. These valuations must be assessed by the end of the income tax reporting year. You may be allowed to … Read More
While most of us start preparing our income taxes at the beginning of the year, there are moves you can take now to help relieve your tax burden before the year ends. When it comes to retirement planning there are strategies that can maximize your savings benefits, … Read More
Prohibited transactions are dealings your self-directed IRA must avoid to comply with IRS regulations that govern them. If you self-direct an IRA or solo 401(k), it is your responsibility to understand what these transactions entail and to avoid them at all costs. Failure to avoid prohibited transactions … Read More
Investors who follow IRA rules set and enforced by the IRS have one thing in common: They rarely get in trouble with the IRS regarding their retirement accounts. One rule that's important for self-directed IRA owners is to avoid dealings with disqualified persons.
Because compliance with the IRS … Read More
The IRS goes to great lengths to explain the prohibited transaction of your IRA dealing with disqualified persons. Prohibited transactions in your IRA can incur penalty, taxation, and even the loss of the tax-sheltered status of your account. However, there’s one tactic IRS regulations do allow that … Read More