Fable of IRA Rollover to a Roth

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Hard money commercial financing LTV

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New Ira Rules Help Retirees And Seniors

Under the Pension Protection Act of 2006, there are some new items beneficial to IRA owners that the average IRA owner will miss:
First, if you leave your employer and you had a tax sheltered annuity (typically the type of plan at school districts and governments), you can roll both the pre-tax and after-tax amounts to an IRA. That way, the whole account can continue to grow tax deferred.
Next, the silly requirement to first roll your company account into a regular IRA and then into a Roth IRA has been dropped. Under the new rule, when you retiree, you can roll your company account directly into a Roth IRA (of course, you pay the income tax due and then the Roth will grow tax free). This is effective January 1, 2008.
The nonsensical prior rule that a non-spouse beneficiary of a company plan could not roll over the money had been dropped. Here’s an example. Dad worked for Chevron. He listed his son as beneficiary on his 401k. If Dad dies, the son can now do a trustee-to trustee transfer of Dad’s account into an inherited IRA. Previously, only a spouse could move money from a deceased’s 401k into an inherited IRA or their own IRA. The non-spouse beneficiary still cannot take possession of the money or else it will be taxed—there is no 60 day rollover provision.
There’s more good news about the above. Let’s say Dad died in 2003 and the son was subject to the 5 year rule which required that the IRA be emptied by 2008. Now, the son can just do the rollover in 2007 (the rule is effective January 1, 2007) and take advantage of the new rule even though Dad dies a while back.
If you’re charitably inclined, it has always made sense to give IRA funds or retirement finds to charity. Since each dollar in a retirement plan is only worth 65 cents (after an assumed 35 cent tax), it’s always made sense to give retirement funds rather than non-retirement funds to charity. Previously, if you wanted to give a lifetime gift of your IRA funds, you needed to include the distribution from your IRA on your tax return and then show a charitable deduction. For limitation reasons, this was not always favorable.
Now, you can distribute up to $100,000 directly to a public charity and not show it on your tax return, provided you are also past age 70 ½ (this does not apply to transfers to foundations, donor advised accounts or charitable remainder trusts—only outright gifts to public charities). You would not show the IRA distribution or the charitable deduction.
This is really a rule for seniors because you must be age 70 ½ to use it and it helps people, typically seniors, that have the following issues/limitations: helps people who could not previously make full immediate use of the charitable deduction because of the 50% of AGI limitation, those who paid tax on social security income, those who had a limit on their itemized deductions and those that did not itemize deductions.
The best news is that these transfers to charity count toward the taxpayer’s required mandatory distribution. One more good thing—these transfers to charity are exempt from the normal “pro-rata” rule. Therefore, if the taxpayer has after—tax funds in their IRA, the transfers to charity are only from pre-tax funds and will not affect basis in the IRA. Beware, this rule is immediately effective and set to expire at the end of 2007!
Last, good for seniors, starting in 2010, the $100,000 MAGI limitation on Roth conversion is repealed. Therefore, retirees, for whom Roth conversions are most appealing, will be able to do a Roth conversion without limitation and also spread the tax so that half is paid in 2011 and half in 2012.
You can get a complete education when you attend the Advanced IRA Rollover and Distribution Training in Orlando. Details at www.iraexpert.net

Private Money Partners Offer Quick And Reliable Loan Solutions

How difficult is it to get a bank loan these days? Banks are institutional lenders that leave decision-making to several adjudicators that scrutinize, verify your income and employment status, and could still come up with reasons to refuse a loan. Especially now.  Your credit, even if it’s good could actually be a hindrance.

Good credit a hindrance?  YES!  Because borrowers are penalized for having more than 4 mortgages, or denied for their tendency to leverage their credit. Banks typically view frequent borrowing as a serious handicap. A serious business person does not want or need this kind of hassle.

How is private money faster? You can simply call up a lender, receive a check, and close a deal in a couple of days. Sometimes even the next day. That’s how fast it can be done. It is a private business. Decisions are made by a single person or a small team who realize the potential of a deal.  A private money lender views frequent borrowing as a good strategy (known as OPM – using Other People’s Money)  and as a potential lucrative partnership.

Therefore, a private money lender is able to offer you money quickly and easily.

How can you get deals done over and over again?

It’s very simple. You start out with a solid, reliable and profitable deal that you can easily show to the lender. And over time what naturally develops is a personal relationship between the borrower and the lender.

If you have a good track record and start out by borrowing smaller amounts of money with faster turnarounds, you could borrow often and with minimum fuss. Even tangible assets like intellectual property could be considered if it’s part of a well-proven business system.

Private money lenders look at a deal, evaluate it with their understanding of the world of finance and investment experience, and entrust you with control of your business, and happily participate financially right alongside you where their key component is money and your knowledge makes everyone lots of money.

So the next time you need to fund your ventures, think of private money partners.

Roth vs. Tradtional 401K — Which Should I Choose

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Ira Rollover: Check Out Your Options Before You Invest

A popular IRA company, Rollover Guide, defines an IRA Rollover as “an IRA Rollover is a tax-free transfer of assets from a tax-deferred retirement program into your personal Individual Retirement Account.” If you are on the verge of retirement and looking for a good investment plan then a rollover IRA will be a good option for you. If you are under the 401K rollover program, you can easily roll over your IRA.

There are different types of IRAs – Rollover IRA, Roth IRA, Inherited IRA, Workplace IRA or traditional IRA or self directed IRA – this can help you to understand it easily as there are many complicated items that might make you confused.

The basic ideas that you should be aware of are:

There are some elementary rules that are applicable while you opt for IRA Rollovers:

An IRA is your hard-earned money that you put in to make it utilize after your retirement. However, it is required on your part to plan how you will invest and manage your assets. Sometimes, people opt for lump sum money payouts that they will get after retirement and put that into an IRA, but to do this, you need to have a well-planned strategy to manage that fund.

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