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Tax advantages: A precious metals IRA gives you the same tax benefits as a traditional or Roth IRA. Holding precious metals in one of these accounts could help you shield income and gains from taxes.
Another option is to hold your gold investments in a gold IRA, which Argyle calls a "major loophole." "Doing so will avoid the 'collectible' classification and allows gold to enjoy the same tax ...
A gold IRA is a type of retirement account that allows you to invest in precious metals. In traditional individual retirement accounts, gold is not generally allowed because it is considered a...
Orman recommends opening a Roth IRA to avoid paying tax on withdrawals from your retirement account. “Later on in life, you want to be able to take that money out tax-free,” she explains.
Several companies promote gold IRA arrangements based on the checkbook control strategy, where the IRA does not own the metals directly, but owns a limited liability company (LLC) through which the taxpayer purchases and stores the metals. Neither the IRS nor federal courts have taken a position on the legality of these arrangements, and the ...
The best time to open a gold IRA depends on where you are in your investing journey. Here's what to consider.
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