Archive for the ‘IRA Rules’ Category

All About The Bitcoin Checkbook Control IRA

July 13th, 2017

The Internal Revenue Code does not describe what a Self Directed IRA can invest in, only what it cannot invest in. Internal Revenue Code Sections 408 & 4975 prohibits Disqualified Persons from engaging in certain type of transactions. The purpose of these rules is to encourage the use of IRAs for accumulation of retirement savings […]

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Is Buying Bitcoins with an IRA legal?

July 13th, 2017

The Internal Revenue Code does not describe what a Self Directed IRA can invest in, only what it cannot invest in. Internal Revenue Code Sections 408 & 4975 prohibits Disqualified Persons from engaging in certain type of transactions. The purpose of these rules is to encourage the use of IRAs for accumulation of retirement savings […]

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Tax Filing Tips To Save On Taxes And Boost IRA Savings

March 22nd, 2017

Here’s an article from Forbes.com, written by our own Adam Bergman, talking about ways to save on taxes while boosting IRA savings – With the individual tax-filing deadline date of April 18, 2017 for the 2016 taxable year quickly approaching, reviewing some of the ways one can save taxes as well as boost his or […]

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What Are the Minimum Distribution Requirements of a Traditional IRA?

December 10th, 2016

The terms of an independent retirement account or annuity must include several minimum distribution rules, which Congress imposed to ensure that IRAs are primarily used as retirement savings media, not as vehicles to build wealth for transmission to heirs. As discussed below, these rules provide separately for distributions to IRA owners and distributions to beneficiaries […]

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How Can I Use Substantial Equal Periodic Payments to Escape the Early Distribution Tax?

August 27th, 2015

The Substantial Equal Period Payments provide an exception to the early distribution tax. Under the Substantial Equal Periodic Payments method, you do not have to pay the early distribution tax on money that you take out of your plan in regular payments over either your life expectancy or the joint life expectancy of you and […]

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U.S. Supreme Court Finds Inherited IRAs Not Protected In Bankruptcy

June 23rd, 2014

On June 12, 2014, the Supreme Court unanimously upheld a Seventh Circuit decision that said inherited IRAs do not enjoy the protections of IRAs in bankruptcy proceedings. The petitioner in Clark v. Rameker, Trustee, Hedi Heffron-Clark, inherited an IRA worth about $300,000 in 2001. In October 2010, the Clarks filed voluntary joint bankruptcy and claimed an […]

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Can you Buy Bitcoins with a Self-Directed IRA?

January 8th, 2014

For the inexperienced, bitcoin is the most prominent of several “virtual currencies”—money that exists only online and isn’t backed by any government. Released in 2009 by an unknown person or group going by the name Satoshi Nakamoto, bitcoin is maintained by a decentralized network of computers, called “miners,” that process and verify transactions. Like many […]

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You Can Still Contribute to Your 2013 IRA!

January 2nd, 2014

Just because 2013 has come and gone, doesn’t mean you can’t contribute to an IRA anymore!  You have until Tax Day, April 15, to max out your 2013 IRA contributions. Check out our or FAQ pages for all your IRA-related questions: Traditional IRA FAQs Roth IRA FAQs Self-Directed IRA FAQs For more info about IRAs […]

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