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(866) 839-0429

Address 4560 Via Royale #1
Fort Myers, FL 33919
Phone Number (239) 333-1031
Fax Number (239) 466-5496
Toll Free Number (866) 839-0429
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Entrust Freedom IRAs and 1031 Exchanges

Announcements

 

 

Important Notice About Roth IRAs

What you should know about the recent rule changes for Roth IRAs.

 

The recent rule changes for Roth IRAs are very significant and can be very beneficial to you. Starting on January 1, 2010, all taxpayers will be allowed to have a Roth IRA. This means that the income restrictions on who can have a Roth Account will be lifted. Also in 2010, Congress has come up with special conversion rules.  We have detail articles on our website at http://www.entrustfreedom.com/self-directed-iras/the-year-of-the-roth-2010/.

 

Important Highlights (This is what you should know)

1. If you have a traditional IRA, you can convert directly to a Roth. You will owe the tax on the Fair Market Value of the conversion, but no penalty.

2. ** Odd Rule regarding Contributions** if you make more than $100,000 (married or single) you must continue to make your IRA contributions to your traditional IRA but then you can convert it to a Roth IRA, the conversion if it is cash would not be taxable if it was nondeductible originally.

3. If you do a conversion in 2010 (only in 2010), the additional income caused by the conversion would not be taxable until - 50% in 2011 and 50% in 2012.

Is it worth it to convert to a Roth IRA? With a Roth IRA, you pay the tax upfront, the account grows tax free, but the main benefit is when you withdraw the fund, they are also 100% tax free.

*When you convert a traditional IRA to a Roth the conversion is taxed at the current Fair Market Value

What is fair market value?- IRS Definition of FMV - "The fair market value is the price at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts." 

Example - Bill decides to do a Roth Conversion, he has a lot in IRA worth $25,000 on 1/1/2010
Lot is appraised at 1/1/2010 - Traditional IRA is converted to a Roth

  • 2010 - No income is picked up
  • 2011 - $12,500 in income is picked up, tax paid in 2012
  • 2012 - $12,500 in income is picked up, tax paid in 2013

 

Finally, please feel free to call me or my staff should you have any questions regarding the Roth 2010 Conversion. The Company phone is 239-333-1031.

 

 

Dave Owens, CPA, CES®

Managing Member

4560 Via Royale, #1

Fort Myers, FL 33919

 

239.333.1031 x203

239.466.5496 Fax

 

http://www.entrustfreedom.com/

Invest in What You Know!

 

Gold is Hot!!!

Gold is Hot!!!

And now, you can hold precious metals in your IRA.  With a self-directed IRA from Entrust, you can invest in all types of precious metals, including gold, silver, platinum and palladium.

As the premiere self-directed IRA administrator, Entrust is equipped to handle all the unique requirements involved with putting precious metals in your IRA, such as arranging for storage in a depository, valuations for IRS reporting, and account administration. 

About Entrust Freedom

We offer two separate services to the real estate investor: 1031 Exchanges and Self-Directed Retirement Accounts. 1031 exchanges allow investors to reinvest profits and appreciation while avoiding taxes. They afford an individual the ability to begin at any level of investment and continually trade up without the impact of taxes eroding the accumulation of wealth.

Principal Expertise

Dave Owens, CPA is a graduate of Purdue University with a B.S. in Accounting. He spent his initial years at Deloitte, Haskins, and Sells in Cleveland, Ohio. He has over 19 years in public accounting, specializing in real estate and retirement taxation. He is a current member in good standing with the Federation of Exchange Accommodators. His knowledge of real estate tax code, particularly pertaining to section 1031 of the tax code along with his considerable experience in over a dozen years of performing qualified exchanges make him a wealth of knowledge in his field.

Brandon Hall, MBA, Partner is an University of Alabama Graduate. Mr. Hall has has been associated with Entrust since 2004. He holds the coveted Certified IRA Service Professional Designation.

Office Expertise
Entrust IRA Southwest Florida is Southwest Florida's premier real estate tax consulting firm. In business since 1994, Entrust IRA Southwest Florida has helped thousands of investors successfully defer or eliminate capital gains on the sale of investment real estate. Specialists in not only self-directed retirement plans, we can assist in all types of 1031 exchanges – simultaneous, delayed or reverse. Call our office today, we look forward to working with you.

Other Office Locations

1415 Panther Ln.
Naples, FL 34109

Phone: (239) 591-6639
Fax: (239) 466-5496
Toll Free: (866) 839-0429
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4079 Burning Tree Dr.
Destin, FL 32541

Phone: (866) 839-0429
Fax: (239) 466-5496
Toll Free: (866) 839-0429
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4850 SW 91st Terrace
P-102
Gainesville, FL 32608

Phone: (866) 839-0429
Fax: (239) 466-5496
Toll Free: (866) 839-0429
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