Explore Your Self-Directed IRA Options.
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Explore Your Self-Directed IRA Options.
Click here to download → Contribution Limits
You are eligible to deduct your contribution now and you anticipate your tax rate at retirement to be lower than your current tax rate.
You need a tax deduction, lowering your current tax bill. (Some investors still contribute to an IRA account even without the tax deduction).
You are looking for a larger choice of allowable investments for your funds.
If you are eligible to contribute to an IRA, the amount you can deduct from your taxes will depend on whether you (or, in some cases, your spouse) are an active participant in a retirement plan at work.
If you have earned income and want to save for retirement on a tax-deferred basis, you may contribute to a self-directed Traditional IRA.
The most common technique to funding a self-directed Traditional IRA is by making a contribution to your account. You may also roll over or transfer funds from an existing employer plan, such as a 401(k), TSA, 403(b), 457(b) defined contribution plan, or other pension plan or Traditional IRA. If your current Traditional IRA does not allow self-direction, you may also transfer those funds to a Mountain West self-directed Traditional IRA so that you may choose your investments.
A Traditional IRA is the oldest and most common type of retirement plan. A self-directed Traditional IRA allows you to select the investments that you choose within your retirement plan.
Traditional IRA contribution limits are established annually by the IRS and may change from year to year.
View Current Contribution Limits HERE.
A self-directed Traditional IRA offers the same general tax treatment as a Traditional IRA while allowing account owners to hold a broader range of eligible assets. Earnings generally accumulate tax-deferred until distributed, and contributions may qualify for a tax deduction. Distributions are generally subject to income tax, and additional taxes may apply to certain early withdrawals. Consult a qualified tax professional regarding your individual circumstances.
Generally, individuals with eligible taxable compensation may contribute to a Traditional IRA, subject to annual IRS contribution limits. Individuals filing jointly may also qualify for spousal IRA contributions, even if one spouse has little or no taxable compensation.
There is no maximum age for contributing to a Traditional IRA. However, contribution eligibility and tax deductibility are separate considerations. Consult a qualified tax professional regarding your individual circumstances.
You can fund a self-directed Traditional IRA through contributions, transfers, or eligible rollovers from other retirement accounts.
Traditional IRA contributions may be fully or partially tax-deductible, depending on income, filing status, and participation in an employer-sponsored retirement plan.
Earnings generally accumulate tax-deferred until distributed. Withdrawals are generally subject to ordinary income tax, although amounts attributable to nondeductible contributions are not taxed again. Additional taxes may apply to certain early distributions.
Traditional IRAs are also subject to required minimum distribution (RMD) rules. Consult a qualified tax professional regarding your individual circumstances.
If you’re looking for self-directed IRA companies, look no further than Mountain West IRA. We take great pride in helping our clients create the IRA retirement plan that will provide you with the solid financial foundation you need to ensure you can live comfortably in your retirement years.
Mountain West IRA is a nationally trusted self-directed IRA administrator. We accept a vast array of alternative allowable investments so you can create a diverse alternative asset portfolio that yields the results you are looking for to fund your retirement years, while being in control of your retirement.
You can access all of our webinars HERE.