FreedomGrowth.com Untaps a Limited-Time Investment Strategy That May Allow for a Drastically Improved Retirement Outlook
The IRS and a certain act of nature have combined to create the “perfect retirement savings storm” and FreedomGrowth.com navigates investors through the muddy waters.
Los Angeles, CA, June 28, 2009 --(PR.com)-- For those with serious plans to retire self-sufficiently, retire early or perhaps even both, Freedom Growth (www.FreedomGrowth.com) has developed a very unique investment strategy which only will be possible for the next 18 months. There are two provisions in the IRS tax code that, if implemented strategically, will allow investors to drastically improve their retirement outlook. But this strategy must be implemented before December 31, 2010.
The Gulf Opportunity Zone Act of 2005, or Go Zone, is a provision in the tax code created to encourage private investment into the regions devastated by Hurricanes Katrina, Rita and Wilma. The most useful section of the code allows for a single, one-time write-off of 50% of the depreciable basis of the property. According to David Coe, founder of Freedom Growth, an IRA real estate investment company in Southern California, “…if you purchase a property in Mississippi for $150,000 and the depreciable portion is $120,000, you could receive a tax deduction of $60,000 in the year of the purchase.” How you use this deduction is part one of the strategy says Coe.
Coe says that part two involves the May 17, 2006 Tax Increase Prevention and Reconciliation Act (TIPRA). TIPRA allows for an individual to convert a traditional IRA to a Roth IRA regardless of income level. Roths are traditionally limited to those households who make less than $160K per year preventing most wealthy Americans from utilizing them.
Mr. Coe states that 2010 is an exception for the typical Roth IRA rules due to TIPRA and presents a huge opportunity. Coe explains the strategy in its simplest form. “If a person closes on a Go Zone property in the next 18 months, they not only obtain a cash-flowing investment property, but they get the tax deduction as well. Then next year, they can convert their traditional IRA to a Roth. They can then use the Go Zone tax deduction to offset the additional taxes from the Roth conversion to balance out the cost of the tax bill.”
Of course there are a lot of stipulations in the tax code that require very precise implementation of this strategy. “Most financial planners, CPAs or real estate agents aren't versed with the nuances of each program,” states Coe, “but Freedom Growth and our financial partners are. Freedom Growth is an IRA specialist in this type of investment strategy allowing investors the opportunity to take full advantage of this limited time offering.”
About Freedom Growth:
Freedom Growth (www.FreedomGrowth.com) is an IRA real estate investment company that helps small business owners and individuals diversify their retirement portfolios with self directed real estate investments. Freedom Growth provides guidance and education on the process of asset conversion into specialized self directed accounts and presents a range of real estate options to help consumers truly diversify their retirement portfolios.
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The Gulf Opportunity Zone Act of 2005, or Go Zone, is a provision in the tax code created to encourage private investment into the regions devastated by Hurricanes Katrina, Rita and Wilma. The most useful section of the code allows for a single, one-time write-off of 50% of the depreciable basis of the property. According to David Coe, founder of Freedom Growth, an IRA real estate investment company in Southern California, “…if you purchase a property in Mississippi for $150,000 and the depreciable portion is $120,000, you could receive a tax deduction of $60,000 in the year of the purchase.” How you use this deduction is part one of the strategy says Coe.
Coe says that part two involves the May 17, 2006 Tax Increase Prevention and Reconciliation Act (TIPRA). TIPRA allows for an individual to convert a traditional IRA to a Roth IRA regardless of income level. Roths are traditionally limited to those households who make less than $160K per year preventing most wealthy Americans from utilizing them.
Mr. Coe states that 2010 is an exception for the typical Roth IRA rules due to TIPRA and presents a huge opportunity. Coe explains the strategy in its simplest form. “If a person closes on a Go Zone property in the next 18 months, they not only obtain a cash-flowing investment property, but they get the tax deduction as well. Then next year, they can convert their traditional IRA to a Roth. They can then use the Go Zone tax deduction to offset the additional taxes from the Roth conversion to balance out the cost of the tax bill.”
Of course there are a lot of stipulations in the tax code that require very precise implementation of this strategy. “Most financial planners, CPAs or real estate agents aren't versed with the nuances of each program,” states Coe, “but Freedom Growth and our financial partners are. Freedom Growth is an IRA specialist in this type of investment strategy allowing investors the opportunity to take full advantage of this limited time offering.”
About Freedom Growth:
Freedom Growth (www.FreedomGrowth.com) is an IRA real estate investment company that helps small business owners and individuals diversify their retirement portfolios with self directed real estate investments. Freedom Growth provides guidance and education on the process of asset conversion into specialized self directed accounts and presents a range of real estate options to help consumers truly diversify their retirement portfolios.
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Contact
Freedom Growth
Brooke Coe
310/372-2695
http://www.freedomgrowth.com
Brooke Coe
310/372-2695
http://www.freedomgrowth.com
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