Tax Advantages of Using a Self-Directed IRA Cryptocurrency
The IRS tax treatment of virtual currency has created a favorable tax environment for retirement account investors. In general, when a retirement account generates income or gains from the purchase and sale of a capital asset, irrespective of whether the gain was short-term or long-term, the retirement account does not pay any tax on the transaction and any tax would be deferred to the future. Using retirement funds to invest in Bitcoins could allow the investor to defer or even eliminate, in the case of a Roth IRA, any tax due from the investments.
The IRA Financial Difference
Why Work With Us?
At IRA Financial, we help our clients take control of their retirement funds and gain the ability to invest in almost any type of investment tax-free. We have helped thousands of clients invest in foreign and domestic assets. You get direct and unlimited access to our in-house tax and ERISA professionals to ensure that all established tax structures are IRS compliant. We offer a full IRS audit guarantee and stand by the legality of our structures and will fully defend their merits against any IRS audit.
IRA Financial Group’s tax and ERISA specialists have helped more than 12,000 clients self-direct their IRA and invest $4 billion in alternative assets, such as real-estate.
Founder of IRA Financial Group and former tax and ERISA attorney, Adam Bergman, has published seven books to help investors self-direct their individual retirement account.
Find IRA Financial Group on Forbes! Adam Bergman is a frequent contributor to Forbes.com and an official member of the Forbes Financial Council.
Self-Directed IRA Cryptocurrency Advantage
1 | Checkbook Control
You no longer have to wait for a cryptocurrency company to execute your crypto transaction and pay high commissions. Instead, as manager of the Self-Directed Bitcoin IRA LLC, all decisions are truly yours. Buying a cryptocurrency is as easy as doing a wire transfer!
2 | Control Your Own Wallet & Private Key
With IRA Financial Group’s Self-Directed Cryptocurrency IRA structure, you will have total control over your crypto wallet, giving you control over the cryptos and the private as well as public address associated with the wallet.
3 | Tax Advantages
You have all the tax advantages of a traditional IRA, as well as tax deferral and tax-free gains if you use a Roth IRA. All income and gains from the sale of the cryptocurrency’s investment go back to the Self-Directed Cryptocurrency IRA LLC tax-free.
“What about your IRA, including rollover IRA? You need to look at state law, advises tax attorney Adam Bergman of New York’s IRA Financial Group.”
“Adam Bergman…gets several calls a day from clients like McDermott looking to invest their retirement funds in real estate. ‘Our average client has retirement accounts of about $150,000 and is looking to buy one or two properties.'”
“Jeff Brown…transferred roughly $50,000 from his workplace 401(k) to purchase homes to fix up and sell…He uses a self-directed IRA that he set up through IRA Financial Group in Miami Beach.”
What Our Customers Say
“I moved my IRA funds to IRA Financial Group because their program gives me checkbook control. I use my IRA for fix-up Real Estate. Checkbook control gives me the ability to pay Subs. quickly to get the best price. I have found IRA Group staff to be very responsive to questions and very professional. Not wanting to put my IRA in jeopardy, this is extreme helpful. They get a full 5-stars out of 5-stars from me!”
– Walt M.
“I was a bit nervous working with a company that I hadn’t run across before but the whole process worked out great. Plenty of communication and explanations. Very happy with my experience using IRA Financial Group.”
– Troy Horton
“Just wanted to say “Thank you” for all of your efforts on this transaction. I know I gave you all a tight time frame, but you absolutely performed. Adam, thanks for your help and advice on the matter. I’ll make sure I send some people your way.”
– Tony Eelman