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Did you know...
You are eligible to contribute to an IRA and qualify for a tax deduction?
Open an IRA and make the deposit for the previous tax year. Hurry now! You have until April 15. Ask our tax professionals for more information.
Prohibited Investments & Transactions
A Self-Directed plan opens a universe of investment opportunities from traditional to non-traditional investments. However, the IRS prohibits the following types of investments:
- Life Insurance for yourself
- Collectibles:
- Art
- Antiques
- Rugs
- Gems
- Stamps
- Metals (except Gold, Silver & Palladium Bullion)
- Coins (except US Minted Gold or Silver Eagle)
- Alcoholic Beverages
- Sub-Chapter S Corporations
In addition to the Prohibited Investments listed above, your plan can also be disqualified for improper use of your IRA or other Self-directed Account by you, your beneficiary, or any disqualified person including any of the following direct or indirect transactions:
- Purchasing property currently owned by you
- Using your account as security on a loan
- Borrowing money from your account
- Selling personal property to account
- Purchasing Real Estate for present use
- Receiving payments for income generated from assets owned in your self-directed account
We recommend consulting with your tax professional prior to investing.
