Dec 12

New Bitcoin Future Market to Increase Popularity of Cryptocurrencies for Self-Directed IRA Investors

Bitcoin futures contract expected to allow retirement account investors using cash to purchase future contracts without margin

IRA Financial Group, the leading provider of self-directed IRA LLC and Solo 401(k) Plans, expects that the new Bitcoin futures exchange will increase the popularity for Bitcoins and other cryptocurrencies for all investors, including self-directed IRA investors.

New Bitcoin Future Market to Increase Popularity of Cryptocurrencies for Self-Directed IRA InvestorsThe launch of the bitcoin futures by CME Group, one of the largest exchange groups in the world, represents a milestone for the digital currency. Bitcoin has been the best-performing asset in financial markets in 2017 rising approximately 1500%. According to Adam Bergman, partner with the IRA Financial Group, “the Bitcoin exchange will allow two parties to exchange Bitcoin at a specified price at an agreed upon date in the future. Because CME’s bitcoin futures will settle in cash, retirement investors will be able to use their IRA or 401(k) funds to purchase future contracts and generate tax-deferred or tax-free returns.”

IRA Financial Group & IRA Financial Trust Company’s Crypto IRA platform with checkbook control will allow retirement account holders to buy, sell, or hold Bitcoins and other cryptocurrency assets and generate tax-deferred or tax-free gains, in the case of a Roth IRA. The primary advantage of using a self-directed IRA LLC to make Bitcoin investments is that all income and gains associated with the IRA investment grow tax-deferred or tax-free in the case of a Roth IRA.

IRA Financial Group & IRA Financial Trust Company has partnered to offer a Bitcoin IRA LLC platform for cryptocurrency investors. The self-directed IRA LLC is an IRS approved structure that allows one to use their retirement funds to make Bitcoin and other investments tax-free and without custodian consent.

IRA Financial Group is the market’s leading provider of self-directed retirement plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

The IRA Financial Trust Company, a self-directed IRA custodian, was founded by Adam Bergman, a partner with the IRA Financial Group.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

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Aug 17

Leading Self-Directed IRA Provider Introduces New Checkbook Control IRA Bitcoin Solution For Retirement Account Investors

Checkbook Control Self-Directed IRA LLC option offers retirement account holders the ability to trade or hold Bitcoins and other cryptocurrency without tax

IRA Financial Group, the leading provider of Self-Directed IRA LLC and Solo 401(k) Plan solutions, is proud to announce the introduction of the Checkbook Control Bitcoin Self-Directed IRA LLC option to all retirement account holders. IRA Financial Group’s Bitcoin IRA solution with Checkbook Control will allow retirement account holders to buy, sell, or hold Bitcoins and other cryptocurrency assets and generate tax-deferred or tax-free gains, in the case of a Roth IRA. “Bitcoins have become a popular investment diversification option for many of our Self-Directed IRA investors in 2017, who are interested in using a tax-efficient manner to buy and sell Bitcoins,” stated Adam Bergman, a partner with the IRA Financial Group.

Leading Self-Directed IRA Provider Introduces New Checkbook Control IRA Bitcoin Solution For Retirement Account InvestorsAccording to Mr. Bergman, IRA Financial Group’s Checkbook Control Bitcoin solution is so attractive to Bitcoin investors because it gives them the control to buy, hold, or sell bitcoins themselves, as manager of the IRA LLC. The primary advantage of using a Self Directed IRA LLC to make Bitcoin investments is that all income and gains associated with the IRA investment grow tax-deferred or tax-free, in the case of a Roth IRA.

IRA Financial Group’s Bitcoin IRA LLC for cryptocurrency investors is an IRS approved structure that allows one to use their retirement funds to make Bitcoin and other investments tax-free and without custodian consent.

IRA Financial Group is the market’s leading provider of self-directed retirement plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate, without custodian consent.

Adam Bergman, IRA Financial Group partner, has written six books on the topic of self-directed retirement plans, including, “The Checkbook IRA”, “Going Solo”, “Turning Retirement Funds into Start-Up Dreams”, “Solo 401(k) Plan in a Nutshell”, “Self-Directed IRA in a Nutshell”, and “In God We Trust in Roth We Prosper”. Mr. Bergman is also the founder of The IRA Financial Trust Company, a Self-Directed IRA custodian.

To learn more about the IRA Financial Group, please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

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Jul 19

IRA Financial Group Introduces New Self-Directed IRA Bitcoin Solution for Retirement Account Investors

Checkbook control self-directed IRA solution will allow individuals to trade or hold Bitcoin and other cryptocurrency directly via their IRA LLC

IRA Financial Group, the leading provider of self-directed IRA LLC and Solo 401(k) Plans is proud to announce the introduction of the Bitcoin self-directed IRA LLC solution with checkbook control. IRA Financial Group’s Bitcoin IRA solution with checkbook control will allow retirement account investors to buy, sell, or hold Bitcoins and other digital assets and generate tax-deferred or tax-free gains, in the case of a Roth IRA directly from the IRA LLC bank. “Cryptocurrency investments, such as Bitcoins, have become a popular investment diversification option for many of our self-directed IRA investors in 2017,” stated Adam Bergman, a partner with the IRA Financial Group. “The great thing about using retirement funds to invest in cryptocurrency, is that if an individual made the investment with personal funds, there would be short-term or long-term capital gains on any gains whereas no tax would be imposed on the transaction if retirement funds were used,” stated Mr. Bergman.

IRA Financial Group Introduces New Self-Directed IRA Bitcoin Solution for Retirement Account InvestorsOn March 25, 2014, the IRS issued Notice 2014-21, which for the first time set forth the IRS position on the taxation of Bitcoins. According to the IRS, “Virtual currency is treated as property for U.S. federal tax purposes,” the notice said. “General tax principles that apply to property transactions apply to transactions using virtual currency.” By treating Bitcoins as property and not currency, the IRS is providing a potential boost to investors but it also imposing extensive record-keeping rules—and significant taxes—on its use. With IRA Financial Group’s self directed IRA Bitcoin solution, traditional IRA or Roth IRA funds can be used to buy Bitcoins without tax.

The primary advantage of using a Self Directed IRA LLC to make Bitcoin investments is that all income and gains associated with the IRA investment grow tax-deferred or tax-free in the case of a Roth IRA.

IRA Financial Group’s Bitcoin IRA LLC for cryptocurrency investors, is an IRS approved structure that allows one to use their retirement funds to make Bitcoin and other investments tax-free and without custodian consent.

IRA Financial Group is the market’s leading provider of self-directed retirement plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

The IRA Financial Trust Company, a self-directed IRA custodian, was founded by Adam Bergman, a partner with the IRA Financial Group.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

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Jun 13

Tax Treatment Of Cryptocurrencies Creating Opportunities For IRA Investors

For a growing number of investors, cryptocurrency is not only the future of money, but also an attractive and potentially profitable investment asset, though highly risky and volatile.  Bitcoin has become the public’s most visible and popular cryptocurrency and it is also among the oldest, having first emerged in 2009.  Over one year, the market capitalization for bitcoin has increased enormously, from around $7.16 billion in May 2016 to $27.9 billion today.  As the price of bitcoin has risen over the last year or so, so has the confidence among investors, including retirement account investors.

The process of buying cryptocurrency is still somewhat unclear for a lot of people. It’s not a stock or a traditional investment.  For most people in the U.S., Coinbase would be the easiest option to buy cryptocurrency, such as bitcoin, Ethereum, or Litecoin.  After verifying the account, the investor can add a number of payment methods including credit or debit cards, U.S. bank accounts, or even wire transfers of funds.  Cryptocurrency transactions are not anonymous and the identify of the currency owner can be traced back to a real-world identity.

As a cryptocurrency, bitcoin is generated through the process of “mining”—essentially using your computer’s processing power to solve complex algorithms called “blocks.”  One can buy and sell bitcoin on an exchange, much like a physical currency exchange, converting wealth from bitcoin to US dollars to other national currencies, back to dollars or bitcoin. And that’s how money is made.

Tax Treatment Of Cryptocurrencies Creating Opportunities For IRA InvestorsEven though bitcoin is labeled as a “cryptocurrency”, from a federal income tax standpoint, bitcoin and other cryptocurrency are not considered a “currency”.  On March 25, 2014, the IRS issued Notice 2014-21, which, for the first time, set forth the IRS position on the taxation of virtual currencies, such as bitcoin.  According to the IRS Notice, “Virtual currency is treated as property for U.S. federal tax purposes.” The Notice further stated “General tax principles that apply to property transactions apply to transactions using virtual currency.”  In other words, the IRS is treating the income or gains from the sale of a virtual currency, such as bitcoin, as a capital asset, subject to either short-term (ordinary income tax rates) or long term capital gains tax rates, if the asset is held greater than twelve months (15% or 20% tax rates based on income).  By treating bitcoins and other virtual currencies as property and not currency, the IRS is imposing extensive record-keeping rules—and significant taxes—on its use.

The IRS tax treatment of virtual currency has created a favorable tax environment for Self-Directed IRA investors.  In general, when a retirement account generates income or gains from the purchase and sale of a capital asset, such as stocks, mutual funds, real estate, etc., irrespective of whether the gain was short-term (held less than twelve months) or long-term (held greater than twelve months), the retirement account does not pay any tax on the transaction and any tax would be deferred to the future when the retirement account holder takes a distribution (in the case of a Roth IRA no tax would be due if the distribution is qualified).  Hence, using retirement funds to invest in cryptocurrencies, such as bitcoin, could allow the investor to defer or even eliminate in the case of a Roth, any tax due from the investment.  Note – retirement account investors interested in mining bitcoins versus trading, could become subject to the unrelated business taxable income tax rules if the “mining” constituted a trade or business.

As I mentioned earlier, cryptocurrency investments, such as bitcoin, are risky and highly volatile.  Any investor interested in learning more about bitcoin should do their due diligence and proceed with caution.

For more information about using your IRA to invest in cryptocurrencies, please contact us @ 800.472.0646.

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