Most individuals visit their tax preparer in January and February and miss the opportunity to convert funds into Roth IRAs. For those planning conversions, the time is now.
Tampa, Florida (PRWEB) November 09, 2015
Self-directed retirement accounts are popular tools investors use that enable them to choose their own assets—from a very large pool of alternative investments outside the Wall Street norm. Common assets permissible within these plans include real estate, private notes and mortgages, precious metals, stocks, bonds, foreign exchange trading, oil and gas options, and much more. A Roth retirement plan is one that can be self-directed.
How is a Roth IRA different from the much more common traditional IRA? Traditional IRAs are tax deferred, allowing most people to take a tax deduction, depending on eligibility, when a contribution is made. At retirement, distributions from the account are included in ordinary income at that time. Roth IRA owners do not get a tax deduction for contributions. However, the caveat is that the distributions at retirement are tax-free and not included as income. Essentially, with a Roth IRA taxes are paid on the seed (contribution), but the plant (or growth) is tax-free.
Investors with funds in a traditional IRA or similar account such as a SIMPLE, SEP, or 401(k) can move funds by performing a conversion.
Webinar topics include:
- Eligibility for qualification of owning a Roth IRA
- Contributions and distributions
- Why someone would convert to this plan type
- The intricate process and rules involved for conversions
- Documentation required for these transactions
- When the conversion should occur
There are eligibility requirements and even though tax-free growth is a great benefit, these accounts may not be for everyone. “Advanta IRA is holding this webinar to discuss Roth IRAs and the fact that these accounts can be self-directed—allowing owners greater control over their investment funds and decisions,” says Jack Callahan, managing partner of Advanta IRA Services in Florida and of Advanta IRA Administration in Georgia.
“Most individuals visit their tax preparer in January and February and miss the opportunity to convert funds into Roth accounts,” says Callahan. “For those planning conversions, the time is now.”
Investors of all levels are encouraged by Advanta IRA to attend this complimentary webinar.
Event: Webinar – Roth IRA Conversions
Date: November 19, 2015
Time: 12:00 – 1:00 p.m. EST
Cost: No charge
Register: No later than 5:00 pm EST on November 18 by contacting Maria Torpy by phone at (800) 425-0653 x 1149, or by emailing mtorpy(at)advantairagroup(dot)com.
About Advanta IRA
Advanta IRA Services, located in Largo, Florida, has been in operation for over ten years, providing administrative service to owners of self-directed IRAs across the nation. Advanta IRA Administration offers a second location in the Atlanta, Georgia area. Both offices are managed by Jack Callahan, J.D., CFP™. Advanta IRA offers classes, seminars and other educational tools designed to assist clients in managing self-directed IRAs by investing in real estate, notes, private placements and other non-traditional assets that have the potential to maximize IRA earnings on a tax-free or tax-deferred basis.
About Jack Callahan
Jack M. Callahan, J.D., CFP™, is the managing partner at Advanta IRA Services in Largo, FL and Advanta IRA Administration in Atlanta, GA. Jack established the corporate office, Advanta IRA Services, in 2003. Prior to that, Jack delivered specialized counsel to real estate investors, small business owners and real estate professionals on tax, legal and financial matters. As an industry expert, Jack is a frequent speaker on the topic of self-directed retirement plans and an accredited continuing education instructor for the Florida and Georgia Bar Associations, Florida and Georgia Real Estate Commissions, and The American Institute of Certified Public Accountants. He earned his bachelor of science degree in finance and multinational business from Florida State University and his law degree from the University of Florida College of Law.