How To Buy Gold, Tax Deferred
A lot of people are taking advantage of a fairly new IRS law which allows you to buy gold as a tax deferred investment. Per IRS section 304 of TRA 97 you can invest in certain coins including the popular American Gold Eagle coin. To do this, you must buy the coins through an authorized IRA trustee who maintains possession of the gold. In addition to gold coins, certain types of platinum, gold, silver, and palladium bullion can also be used in your IRA.
"Gold should be at least 10% of any well rounded portfolio", says Corey W. of HoustonCoinBuyer.com.
Gold is one of those things that rarely seem to go down in price and has the ability to rise greatly, especially as a long term investment. The American Gold Eagle coin is the official gold bullion coin of the USA. The nice thing about gold coins is that they can be readily bought and sold at or around gold bullion value. Also, all gold used in these coins are mined right here in the USA!
"Wanting to stay away from the shaky stock market, I personally invested around $5,000 in gold coins for my personal IRA contribution in 2009", stated Nick Gill
Adding gold to your IRA lets you essentially buy it at a lower price, as you can deduct the price of the gold from the total income that you have to pay tax on. As the cost of the gold increases the gold in your portfolio increases in value tax free until you go to cash it in after you are 59 1/2 years old. Typically the 1 oz. gold coins allow you to get the most gold weight per dollar since you are paying for the cost to produce the coin as well as the actual raw materials that went into making the coin.
As with any investment please contact your financial and tax advisers for advice prior to investing, IRA gold custodian fees and other fees may apply.
"Gold should be at least 10% of any well rounded portfolio", says Corey W. of HoustonCoinBuyer.com.
Gold is one of those things that rarely seem to go down in price and has the ability to rise greatly, especially as a long term investment. The American Gold Eagle coin is the official gold bullion coin of the USA. The nice thing about gold coins is that they can be readily bought and sold at or around gold bullion value. Also, all gold used in these coins are mined right here in the USA!
"Wanting to stay away from the shaky stock market, I personally invested around $5,000 in gold coins for my personal IRA contribution in 2009", stated Nick Gill
Adding gold to your IRA lets you essentially buy it at a lower price, as you can deduct the price of the gold from the total income that you have to pay tax on. As the cost of the gold increases the gold in your portfolio increases in value tax free until you go to cash it in after you are 59 1/2 years old. Typically the 1 oz. gold coins allow you to get the most gold weight per dollar since you are paying for the cost to produce the coin as well as the actual raw materials that went into making the coin.
As with any investment please contact your financial and tax advisers for advice prior to investing, IRA gold custodian fees and other fees may apply.
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