skip to Main Content

Click Here to Set Your Free consultation

IRAs (a Secret Tax Ninja Tool)

IRAs (a secret tax ninja tool)

 

  • Today, I’m going to talk about a secret, so don’t tell anyone, a secret tax ninja trick. It’s called an IRA.
  • There’s self-directed IRAs, in which you can buy real estate inside your IRA, sell and gain on property and not paying any tax on any of those gains, none of them, until you pull money out of the IRA.
  • What about your basic IRAs, like a Roth or a Traditional IRA? Maximum cap right now is about $5,500 if you’re under the age of 50, but Roth IRAs, for example, you can put that money in and let it earn and earn and earn, and when you pull the money out, there is no tax.

Hey, everyone; this is Shauna, the Tax Goddess, coming to you live from Tax Goddess Headquarters in Scottsdale, Arizona. Today, I’m going to talk to you about a secret, so don’t tell anyone, secret tax ninja trick. It’s called an IRA. You’re probably thinking, “Wait a second. I’ve heard about IRAs. I’ve heard about them 10 million times. Nothing super secret about that, Shauna. They’re IRAs. They’re all over the place.” Did you know that there’s lots of different types of IRAs. There’s self-directed IRAs, in which you can buy real estate inside your IRA, sell and gain and sell and gain and sell and gain on property and not paying any tax on any of those gains, none of them, until you pull money out of the IRA? Did you know that? Super secret ninja tip number one.

What about your basic IRAs, like a Roth or a Traditional IRA? Maximum cap right now is about $5,500 if you’re under the age of 50, but Roth IRAs, for example, you can put that money in and put that money in and put that money in and let it earn and earn and earn, and when you pull the money out, there is no tax, none whatsoever. Did you know that you can roll money over into an IRA, from a 401K into an IRA? There are so many options when it comes to IRAs.

If you and your financial planner and your CPA, the three of you, have not had a conversation together, it’s time to have that conversation together. There are some super secret ninja tips when it comes to IRAs, so make sure you’re having those conversations, make sure your finding out which IRAs, which retirement programs are really going to work best for you, and if you’re not having those conversations with your CPA, feel free to reach out. We’d be happy to help you here at Tax Goddess and, of course, our sister company, Strategic Tax Coach. We can figure out ways to get you to put the most money away for your retirement and pay the least amount of taxes.

If you haven’t signed up, we are having a webinar this Thursday evening. I believe it is … We’re going to go check. Hold on. We’re going to go look and see what we can find a computer. You’re getting a view, internal view here of the main office, as you can tell. Love my chandelier. It’s my favorite thing. We’re having the webinar at 6:00 PM on Thursday evening. That is 09/28, 6:00 PM. Definitely, can’t wait to see you guys there. Talk to you then. Bye.

Leave a Reply

Your email address will not be published. Required fields are marked *

PLEASE NOTE: As of late Aug 2018 there was a proposed law change that would disallow a double deduction for these charitable credits at the federal level for contributions made after Aug 2018. You are still eligible for the AZ state tax credits as the change would only impact your ability to take them as charity donations at the federal level.
Back To Top