A SREIA sponsored Seminar –Tampa, FL
Options For Real Estate & IRA Profits
How to use options and trusts to maximize profits in this uncertain market. Proven forms and contracts provided. Take advantage of lowest
prices and highest rents in many years.
- Control real estate with less money and less risk
- Receive tax benefits without ownership
- Cost of funds: 3 to 4 %
- Get higher rent, less turnover, and less maintenance
- Double IRAs with Checkbook Control
- Options in IRAs and 15 other strategies
Presented by Jack Shea, Investor and Author
Saturday, April 14, 2012
9:00 a.m. to 5:00 p.m.
Registration begins 8:00 a.m.
Only if pre-registered, $155 per person
Day of event at the door on a space available basis, $170
Includes Book and forms CD with all forms (175 pgs)
Ramada Inn Westshore Hotel, 1200 N. Westshore Blvd.
Tampa, FL
ph 813-282-3636
Learn more on IRA, go to www.ira-401kcheckbookcontrol.com
It’s the best time to make some plans for the future and it’s time to be happy. I’ve learn this post and if I may I want to suggest you few interesting things or tips. Maybe you could write subsequent articles regarding this article. I desire to learn even more issues approximately it!
the information here is necessary.
After reading this book I felt like I had a very solid kngewldoe of Roth IRA’s and how they work. Ive been a Roth IRA investor/contributor since they became law in 1998. However, one of the areas I struggled with was whether or not toconvert traditional IRA funds to my Roth account. This bookcovered the greatest detail of this and even what the tax implications would be. ie. . . can the tax be payed with mynext years return or must it be payed now to avoid penalies. One thing I never considered was if I didn’tconvert and my income went over the threshold allowed by law to convert, I would lose the opportunity to convert the money in the future.The book covers investing too but is somewhat limited in that area as it mainly is a book of what the Roth is and whatthe laws are regarding it. Basically, the investing part states Grandmas common sense of diversification. All in all a pleasant read on what can be a somewhat boring topic.
Hi, Here are some ideas to help you start saving: 1 Prior to the invnetmest strategies recommended the withdrawal of all high interest debt (credit cards) .2. Then make sure you have cash cushion to protect you in an emergency. Emergencies come in all shapes and sizes. If you go into a little accident you must pay a $ 500 deductible for your car insurance. Emergency fund should cover your expenses subsistance.3 recommended 3-6 months. If you work, your employer, and offers to meet your 401 (k), do it first. It’s free money! 4th After that, your best options are a traditional or Roth IRA IRA.L individual can deduct the amount of their contributions from their taxable income stream. Roth IRA does not provide immediate tax deferred traditional IRA. Do Roth IRA is that you do not pay taxes on your money when you retire. Also you do not pay tax on your IRA money will grow (as a traditional IRA). There are many factors that determine the best solution for your finances.Nous cash to help students start on the right track. Please visit our website to learn davantage.Hope this helps! Brad
If you do not have a reserve cash acocunt with 3 to 6 months worth of living expenses, fund that first.Then, max out all your retirement plans. If your company offers a 401k plan with a roth option, choose that plan first. By the time you are older taxes could be higher and you would be able to pull money out of your roth tax free.Lastly, pay off your debt. I use to advise that one should pay off their debts first, however I find that a person would pay off their debts, save nothing, and then get back into debt. It would take a strong commitment to pay off debt and STAY OUT of debt. If you feel like you will always struggle with debt, then invest first and at least you will have the choice of taking money you saved and paying down your debts versus not having money saved and still having debt.
Good choice to do the roovellr. Don’t forget about non-traditional asset classes. All of my clients have some exposure to gold, commodities, and domestic and international real estate. Keep in mind that more than half the global economy is outside of the US. Also you can use the extended market indices, including domestic and int’l, to give yourself a small company tilt. Otherwise you’ll be underexposed to the asset classes. Given your retirement goal is so far off, this is a good idea. -Brendan
If a taxpayer cotnrevs his or her IRA and then dies, the amount of conversion income not previously reported, will be included in the decedent’s final tax return. However an exception is made if the Roth IRA is inherited by the spouse. If the spouse so elects, the spouse can continue to report the conversion income on the same schedule as the decedent would have. This election cannot be made or rescinded after the due date of the spouse’s tax return for the year of the decedent’s death. Roth IRA Conversion AdvantagesThe 2010 Roth IRA conversion may prove beneficial for a number of investors. Assuming tax rates do not drop significantly in the future, the conversion makes a lot of sense. The main advantage of the Roth IRA is its very favorable tax treatment when it comes to distributions. These qualified distributions are tax free, of course, but there are some other Roth IRA conversion benefits:There is no Required Minimum Distribution (RMD) during your lifetime.An IRA conversion to Roth IRA will require the payment of any necessary taxes, but will assist in shrinking your taxable estate. This provides you the opportunity to bequeath the select Roth funds tax free to your heirs.You can choose to not pay taxes on the conversion in 2010 and postpone the taxes in equal shares until 2011 and 2012. Normally, you’d be required to pay all taxes in the year of the conversion.Obviously, the primary advantage of the Roth IRA is its tax-free nature. Having investment earnings completely free from taxation is alluring, but the two following Roth IRA rules must be met in order to receive tax-free distributions:1. The withdrawal takes place at least five years after the initial Roth contribution, and2. One of the following applies:a. The Roth IRA owner is 59 bd or olderb. Disability (permanent)c. Death of participantd. First-time home purchase ($10,000 lifetime cap)
Your comments on the crnevosion of regular IRA into a Rothleaves me with the following question .we have an exsistingRoth IRA, which is about eight years of age we also havea regular IRA .both are in the small rage of about $35,000each .can we convert the regular IRA into the existing Rothand avoid some taxes .it is my understanding that thattaxes on such a crnevosion will be taxed for the current year.Is this a good time to convert ..thank you
Well, it’s pretty sirrtghtfoaward: whatever the $41,000 was used to purchase must be the amount recharacterized (if the entire conversion is to be recharacterized). The rule is that the amount that you recharacterize is equal to the amount converted, plus any capital growth, interest, or dividends, and minus any expenses and capital loss associated with the amount.You should be able to follow the money via your statements, I would imagine. Hopefully the investment activity hasn’t been too wild to piece this all together.Hope this helps -jb
Always put all distributions on the front page of the 1040. The form 8606 is used to derntmiee whether a contribution is deductible or not. Very specifically doesn’t include rollovers. And distributions for RMD purposes are not rollover eligible. From what you’ve said you’re only looking at the RMD’s and not contributions so the 8606 isn’t needed. Add the two distributions together and put them on the front page of the 1040.
Have a tough one for you. In 2010 I converted a $41,000 Traditional IRA and roleld it into an existing Roth IRA, worth $12,000 before the conversion. The combined Roth is now worth about $38,000 vs. the original $53,000 and I’d like to re-characterize the conversion. What amount do I re-characterize, keeping in mind I’d like to conserve’ as much of $12,000 of the after-tax money in the original Roth.
if the conversion was made in 2010 as well as the death the final tax retrun for the deceased would be the end of itthe person who inherits the Roth might have some liability for the conversion on his tax retrun since inheriting the Roth also inherits the conditions of it
I have a 401k at work, am 61 and understand I can couttibnre $22,000. I have a seperate business for which I have a SEP-IRA plan for which I can couttibnre $49,000 with the proper income limit.The question is, if I want to max out both. Can I couttibnre a combined $71,000, $54,500 or just $49,000.Thank you
IRS CIRCULAR 230 NOTICE: To ensure ccoalipnme with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication (or in any attachment) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed in this communication (or in any attachment).Rolling Over Your Roth 401(k)
What happens with rate cuts this week, next month or the next makes no drffeience if you;re investing for the long term. Rates will change over the years. Design your retirement plan for your needs, so it can withstand the ups and downs of the economy. and change it when your circumstances change. Not when the economy changes. The sooner you start investing, the more you will have at retirement.
Thanks for the tip on asset classes, once I have more money to move anuord I’ll be looking at more than just domestic/international/bond indexes. At this point I’m just trying to get it packed away where I can’t spend it.
You are misusing the term rololver. If you are above the deductible income limit for traditional IRAs, it makes no sense to contribute to them especially since you are 30 years away from retirement. Make your 2010 contributions directly into the Roth IRA(s) instead.If you want to convert the traditional IRAs to Roths, 2010 is the year to do so because you can spread the tax bite out over two years.