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Gold IRA rules and taxes: What to know before you sign anything

New York Post·Will Kenton·about 1 month ago
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The recent outperformance of gold has turned many skeptical investors into gold bugs. Gold has other virtues that look timeless in the eyes of investors, too. Gold has been a store of value for a very, very long time; much longer than stocks, bonds or even paper currency have been around. And for folks who worry about inflation, gold benefits from being a limited resource – they aren’t making any more of it. There are psychological and financial benefits to owning a physical asset. But like gold, taxes are eternal, and without a strategy, you’ll lose more of one to the other than necessary. That’s where opening a gold IRA at a reputable custodian comes in. To ensure that citizens are paying their taxes and to encourage savings, the IRS created rules around gold IRAs that allow investors to defer today’s taxes and put money into physical assets like gold.…

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