Posts Tagged ‘Hold’
BHGRE Survey Reveals That Ethnic Groups In America Hold High Hopes For Next Generation Of Homeowners
Sunday, July 20th, 2014Prudential Dinning-Beard, REALTORS
Monday, October 28th, 2013
Wichita, Kan. (PRWEB) October 23, 2013
Prudential Dinning-Beard, REALTORS
New Trend of Americans Wishing to Hold Foreign Assets Without IRS Reporting Turning to Solo 401(k) Plan & Self-Directed IRA, According to IRA Financial Group Attorney
Saturday, August 24th, 2013
Miami, FL (PRWEB) August 16, 2013
IRA Financial Group, the leading provider of self-directed IRA and Solo 401(k) Plans, has seen a surge an interest for the self-directed IRA and Solo 401(k) product as a vehicle to hold assets outside of the United States without triggering any U.S. reporting requirements. The main trigger for cutting ties with U.S., several lawyers say, is the Foreign Account Tax Compliance Act, or Fatca, which requires foreign institutions to disclose the overseas assets of U.S. green-card holders and citizens to the U.S. government. The main objective of Fatca is to identify people who may be evading taxes through offshore investment vehicles.
U.S. citizens, U.S. individual residents, and a very limited number of nonresident individuals who own certain foreign financial accounts or other offshore assets must report those assets using IRS Form 8938. In general, taxpayers with a total value of specified foreign financial assets below a certain threshold do not have to file Form 8938. If the total value is at or below $ 50,000 at the end of the tax year, there is no reporting requirement for the year, unless the total value was more than $ 75,000 at any time during the tax year. It is important to remember that the new Form 8938 filing requirement does not replace or otherwise affect a taxpayers obligation to file Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts), stated Adam Bergman, an in-house tax attorney with the IRA Financial Group. According to Mr. Bergman, individuals must file each form for which they meet the relevant reporting threshold.
According to Mr. Bergman, when using retirement funds to make foreign investments, either via a self-directed IRA or a qualified retirement plan, such as a Solo 401(k) Plan, the IRS under the FBAR rules and IRS Form 8938 exempt retirement accounts from such filings. As a result of the very stringent foreign bank account filing requirements, there has strong interest in U.S. persons wishing to hold assets outside the U.S.
IRA Financial Groups Self-Directed IRA and Solo 401(k) Plan are perfect vehicles for U.S. retirement investors looking to self-direct their retirement funds and make traditional as well as non-traditional investments tax-free. We have seen an surge in demand from clients looking to hold assets outside the U.S. and not be bogged down with very complex filing requirements, stated Mr. Bergman.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market’s leading checkbook control Self Directed IRA & Solo 401(k) Plan Facilitator. 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.
To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.
Robert Bolar Joins Elite Group (3 Percent of All REALTORS
Thursday, July 4th, 2013
Ogden, Utah 84414 (PRWEB) June 30, 2013
Robert Bolar, a leading sales associate with Coldwell Banker Residential Brokerage in Ogden, has earned the prestigious Certified Residential Specialist CRS designation from the National Association of Realtors. Bolar completed extensive training courses in residential sales to earn the designation. Roberts work and accomplishments at http://www.OwnUtah.com
Certified Residential Specialist (CRS) agents have proven record of success3X success, in fact. Compared to the average REALTOR
In Light of the Recent Bank Crisis in Cyprus, IRA Financial Group Clients Looking to Hold Gold Personally in their Self-Directed IRA Accounts
Tuesday, May 14th, 2013
Miami, FL (PRWEB) May 07, 2013
IRA Financial Group, the leading provider of self-directed IRA LLCs, has seen a growing number of retirement investor looking to protect their retirement funds from a Cyprus type banking crisis that could wipe out their retirement savings. We have seen a growing number of retirement investors looking to hold gold and IRS approve coins, such as American Eagles, personally, stated Adam Bergman, a tax attorney with the IRA Financial Group.
Cyprus, which has been a member of the European Union since 2004 and the Euro zone since 2008, was recently on the brink of financial collapse. Its two major banks, the Popular (Laiki) and the Bank of Cyprus were abruptly closed on March 15, 2013 until further notice. A large number of U.S. investors took notice what occurred in Cyprus and turned to holding gold and American Eagle coins personally in a self-directed IRA LLC, stated Mr. Bergman. “Holding gold personally in a self-directed IRA has offered retirement investors a safeguard against a U.S. bank crisis akin to what occurred in Cyprus in 2013, ” stated Mr. Bergman.
Unlike precious metals, the Internal revenue Code and the legislative history does not include a requirement that IRS approved coins be held in the physical possession of a U.S. trustee. When it comes to coins or metals, Internal revenue Code Section 408 is generally the provision that applies. In general, collectibles such as artworks, rugs, stamps, certain coins, beverages and antiques, etc. are not allowed within a Self-Directed IRA LLC pursuant to Internal Revenue Code Section 408.
Internal Revenue Code Section 408 is specific as to what defines a collectible. Some notable exceptions are allowed for certain gold (such as American Eagle) and silver coins and any coins issued by a state. Legislation in 1997 further liberalized the rules for IRAs by making reference to specific definitions of acceptable coins in USCS, title 31; IRC sections 5112(a), (e) and (k); the Commodity Exchange Act; and IRC section 408(m)(3).
Holding gold coins personally in a self-directed IRA LLC as provided a number of pour clients with comfort that their retirement funds will be protected in the case of a domestic banking crisis, stated Maria Ritsi, a paralegal with the IRA Financial Group. IRA Financial Group does recommend that its clients hold IRS approved gold and coins at a depository or IRS approved trustee.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market’s leading provider of “checkbook control” self-directed IRA LLC structures. 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.
To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.
