I already have the company to buy the silver coins from. I need the trustee to get the tax deduction.
I already have the company to buy the silver coins from. I need the trustee to get the tax deduction.
That’s a common misconception, you can invest in real estate with a self-directed IRA. The only reason this isn’t common knowledge is because the broker who sells you on the IRA doesn’t do real estate investments, so its not in his best interests to fully educate you. :\
An IRA, by definition, is deferred tax account. However, I did not use money inside the IRA to pay for the fee. I used "other money" from a non-IRA brokerage account. What is the form I use to list my fee’s (paid about K in 2007).
Is this bundled with other deductions to meet a threshold?
Is there anything else I need to know?
Thanks all
I am looking into buying a house for my father with his IRA. There is a "safe harbor" IRA which would enable us to use his IRA funds to purchase property that he can live in without major tax consequences. Just wondering if anyone knows the drawbacks of doing this? It seems like a great idea to me, but many people seem to be negative about it without clear reasons.
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I mean suppose the gov. has deducted taxes from your salaries, but they actually have to give you a small refund, if you get an IRA will it increase the size of the refund?
but will that adjustment result in increased refunds, assuming you had a small refund, from the taxes the gov. retained from your salary each month?