By J.P. Dahdah, Founder & CEO of Vantage Do you believe that you can accomplish your financial goals? There are two types of investors, those who expect others to reach their financial goals for them and those who place that responsibility on themselves. Self-directed investors understand that “I” is the most crucial letter in IRA. Sure, it’s easier to blame…
By J.P. Dahdah, Founder & CEO of Vantage Contributing the maximum amount to your IRA makes financial sense, but why? All financial institutions and trusted advisors will be encouraging you to focus on one thing in April: taxes. Vantage is no different, but we do have a small spin on the message. Typically, the spotlight is on tax minimizing strategies,…
By J.P. Dahdah, Founder & CEO of Vantage With freedom comes responsibility. Self-Directed IRA (SDIRA) account holders are not immune to this reality. I regularly share my insights about the long list of powerful benefits SDIRAs, but there are hurdles to these accounts as with most things in life. The burdens exist within the realm of personal accountability. Building wealth…
By J.P. Dahdah, Founder & CEO of Vantage What Restrictions Do You Have? To maximize your physical wellbeing, you evaluate what food or items you are consuming, which may harm your body. Do you have food sensitivities, allergies, etc.? If, after evaluation, you learn “for your body,” it’s best to eat gluten-free, dairy-free, low-carb, or plant-based…you have a choice to…
IRS Reversal In 2014, the IRS changed its long-standing position on the one-per-12-month rule for rollovers between IRAs in light of a United States Tax Court ruling in Bobrow v. Commissioner. Before the Tax Court’s ruling, the IRS had interpreted Internal Revenue Code Section (IRC Sec.) 408(d)(3)(B) to mean that each taxpayer was allowed one rollover per 12 months for each separate IRA owned…
What are the differences between transfers and rollovers? Transfer A transfer is a direct movement of assets from one IRA to another IRA. Generally, transfers occur between IRAs of the same type: Traditional IRA-to-Traditional IRA, Roth IRA-to-Roth IRA, or SIMPLE IRA-to-SIMPLE IRA. However, an individual can transfer assets from a Traditional IRA to a SIMPLE IRA once the SIMPLE IRA’s…