Wild Tax Things!

You've heard the stories.....someone tells you they invested in real estate, from raw land to single-family homes to commercial buildings, or gold and silver in their IRA.  IRAs can only be mutual funds, savings accounts or CDs.  Right?  A friend tells you that they withdrew their entire 401K and were taxed at low capital gains rates....not at the higher ordinary tax rates.  All 401Ks are taxed at ordinary tax rates.  Right?   

Wrong!  If you know anything about income taxes, these stories sound too good to be true.  IRS regs certainly must prohibit these types of  transactions and tax rates.  You can't take 401K withdrawls at capital gain rates and you can't invest in real estate, gold or silver in an IRA account.  Ask the average tax preparer, and the probable reaction is.....No way!

All of the preceding transactions have been done successfuly by Howe & Kolodziej CPAs, PLLC tax clients. 

The only caveat is.....Buyer Beware!  These transactions are not for the faint of heart.  Each has specific rules that must be met for the transaction to be acceptable by the IRS.  Mess up and it will cost you big time!

Buyer Beware! That's why you should discuss the details with Howe & Kolodziej CPAs, PLLC partners James Howe or Renee Kolodziej before utilizing any of these tax strategies.  Also be aware that all of these strategies are subject to change at any time by the Obama administration.

Want to invest in real estate in your IRA?  Click these links to find out more

• http://www.fairmark.com/rothira/real-prohibited.htm

• http://propertyinvestinginformation.com/make-money-in-real-estate-use-your-ira/

• http://www.ehow.com/list_5824731_pros-real-estate-funds-ira.html

• http://www.bankrate.com/brm/news/sav/20010213a.asp

Want to invest in gold or silver in your IRA?  Click these links to find out more. 

• http://www.wexfordcoin.com/PreciousMetalsIRA.htm

• http://www.financialsense.com/editorials/morgan/2008/0418.html

Want to withdraw your 401-K at capital gain rates instead of ordinary income tax rates?  Click any of these links to find out more.

• http://www.leadtrac.com/tips_for_rolling_over_your_401k_plan.htm 

• http://www.ira-distribution.com/ira-distribution-articles/Chapter1/Net_Unrealized_Appreciation.html

• http://www.thefreelibrary.com/Net+unrealized+appreciation-a0120703511

Howe & Kolodziej, CPAs, PLLC
8580 E Shea Blvd Ste 120
Scottsdale, AZ, 85260-6681 Phone: (480) 596-6499 Fax:     (480) 596-6494
info@h-kcpa.com   Member American Institute of Certified Public Accountants Arizona Society of Certified Public Accountants