Miami, FL (PRWEB) November 14, 2012
Now that President Obama has won the election, many tax experts are expecting tax increases on investment income to kick in automatically in January 2013. For example, if the tax increases that are set to kick in automatically in January, the rate on dividends for high-income taxpayers will rise to 43.4 percent from 15 percent and the top rate on capital gains to 23.8 percent from 15 percent. “Increased tax rates on investment income will certainly mean increased overall income tax due, which would mean more tax due on a Roth IRA conversion," stated Adam Bergman, a tax attorney with the IRA Financial Group.
When converting a pre-tax IRA to an after-Roth IRA, the individual is responsible to pay tax on the amount being converted. “With income tax rates expected to increase in 2013, electing to do a Roth IRA conversion could prove to be a tax efficient choice, “stated Mr. Bergman. Of course, deciding whether to do a Roth IRA conversion is an important decision that must be carefully considered because of the immediate tax implications. For example, a Roth IRA conversion is typically attractive if one has the ability to pay the income tax due on the conversion and does not wish to withdraw the funds within five years.
A self directed Roth IRA LLC, is an IRS approved structure that allows one to use their retirement funds to make real estate and other investments tax-free and without custodian consent. The Self-Directed Roth IRA involves the establishment of a limited liability company (“LLC”) that is owned by the Roth IRA (care of the Roth IRA custodian) and managed by the Roth IRA holder or any third-party. As manager of the Roth IRA LLC, the Roth IRA owner will have control over the Roth IRA assets to make the investments he or she wants and understand – not just investments forced upon you by Wall Street.
With a self-directed Roth IRA with checkbook control established through IRA Financial Group, an investor is able to use retirement funds to make domestic or foreign real estate, precious metals, tax liens, foreign currency, and many other investments tax-free and without custodian consent! Using a self-directed IRA LLC, clients of the IRA Financial Group have the ability to take advantage of the rebounding real estate market by using retirement funds to make tax-free real estate investments.
Maria Ritsi, a senior paralegal with the IRA Financial Group, expands on the benefits of using a self-directed Roth IRA LLC with checkbook control to make investments, ”By using retirement funds to make investments, retirement investors will have the ability to generate income or gains without ever paying tax.” “Using a Self-Directed Roth IRA allows one to take advantage of the best remaining legal tax shelter, " stated Ms. Ritsi.
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 and Dewey & LeBoeuf LLP.
IRA Financial Group is the market’s leading “Checkbook Control” Self Directed IRA and Solo 401k Plan Facilitator. We have 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 tax-free and 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.