Checkbook control self-directed IRA solution will allow individuals to trade or hold Bitcoins and other cryptocurrency directly via their IRA LLC
IRA Financial Group, the leading provider of self-directed IRA LLC and Solo 401(k) Plans is proud to announce the introduction of the Bitcoin self-directed IRA LLC solution with checkbook control. IRA Financial Group’s Bitcoin IRA solution with checkbook control will allow retirement account investors to buy, sell, or hold Bitcoins and other digital assets and generate tax-deferred or tax-free gains, in the case of a Roth IRA directly from the IRA LLC bank. “Cryptocurrency investments, such as Bitcoins, have become a popular investment diversification option for many of our self-directed IRA investors in 2017,” stated Adam Bergman, a partner with the IRA Financial Group. “The great thing about using retirement funds to invest in cryptocurrency, is that if an individual made the investment with personal funds, there would be short-term or long-term capital gains on any gains whereas no tax would be imposed on the transaction if retirement funds were used,” stated Mr. Bergman.
On March 25, 2014, the IRS issued Notice 2014-21, which for the first time set forth the IRS position on the taxation of Bitcoins. According to the IRS, “Virtual currency is treated as property for U.S. federal tax purposes,” the notice said. “General tax principles that apply to property transactions apply to transactions using virtual currency.” By treating Bitcoins as property and not currency, the IRS is providing a potential boost to investors but it also imposing extensive record-keeping rules—and significant taxes—on its use. With IRA Financial Group’s self directed IRA Bitcoin solution, traditional IRA or Roth IRA funds can be used to buy Bitcoins without tax.
The primary advantage of using a Self Directed IRA LLC to make Bitcoin investments is that all income and gains associated with the IRA investment grow tax-deferred or tax-free in the case of a Roth IRA.
IRA Financial Group’s Bitcoin IRA LLC for cryptocurrency investors, is an IRS approved structure that allows one to use their retirement funds to make Bitcoin and other investments tax-free and without custodian consent.
IRA Financial Group is the market’s leading provider of self-directed retirement plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.