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.
On November 1, the IRS announced the much-anticipated 2024 contribution limits for retirement plans and other tax-advantaged savings plans. Thankfully, most limits were raised from 2023 numbers, making it possible for Americans to save more to secure a successful retirement future.
Without further ado—we’ll jump right into the … Read More
This recorded webinar provides a mid-year SECURE Act 2.0. update for 2023 and a detailed overview of the changes brought about by the Act. These changes impact required minimum distribution (RMD) rules, contributions, and overall enhancements to retirement plans, which include self-directed accounts. The session also touches … Read More
It’s that time of year again. 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 perform … Read More
With inflation and interest rates still on the rise, it’s more important than ever to create a solid financial plan that includes saving for retirement. Below are important IRA contribution deadlines, as well as those for solo 401(k)s, ESAs, and HSAs, and each plan’s annual limit.
You’ll also … Read More
What is the Roth IRA five-year rule, and how does it work? This article explains the rule and additional rules you must follow to avoid tax and penalties for taking early withdrawals from a Roth IRA.
The main attraction of having a Roth IRA is the ability to … Read More
Roth IRA conversions, also knows as backdoor Roth IRAs, allow you to convert funds you’ve saved in a pre-tax account like a traditional IRA into Roth dollars. This transaction is favored by individuals whose income limits prevent them from contributing to Roth accounts and enjoying the benefits … Read More
There are three ways you can fund your retirement account. Of course, you can always make a cash contribution to the account if that contribution falls within annual limits. But if you own an existing retirement plan, IRA transfers and rollovers allow you to move funds from … Read More
What happens if you contributed more to your IRA than allowed? Often, excess IRA contributions are caught around the time you’re preparing your taxes. Hopefully, you catch the error in time to make adjustments that may ease the 6 percent penalty the IRS levies if you deposit … Read More
Self-directed IRAs are growing more popular among individuals who want to invest in alternative assets like real estate and private equity. Account owners have complete control over investment acquisition for their plan and do not rely on plan administrators, investment bankers, or brokers to make those decisions … Read More
With inflation and interest rates on the rise this year, combined with the erratic state of the stock market, it’s more important than ever to create a solid financial plan that includes saving for retirement. Below are important tax payment deadlines and other dates you need to … Read More