Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Gold IRAs: How to Lessen or Avoid That Pesky Capital Gains Tax

Commodities / Gold and Silver 2017 Apr 22, 2017 - 02:04 PM GMT

By: HAA

Commodities

Since we just finished tax season, many first-time gold investors might wonder what to do about their precious metals holdings. How are they taxed, and are there any legal ways to lessen those taxes?

Precious metals like gold, silver, and platinum are considered capital assets, so you will have to pay capital gains taxes when you sell them for a profit.


For almost any asset class, the amount of time you hold them plays an important role in how much you pay in taxes.

Short-term capital gains are taxed differently than long-term capital gains—in fact, the difference can be quite substantial.

In 2016, the rates for long-term capital gains were 0%, 15%, and 20% for most investments, whereas short-term gains are taxed on your ordinary income tax rate. A potentially huge savings for smart investors.

Gold, on the other hand, is treated somewhat differently.

The bad news: The IRS classifies precious metals as collectibles and taxes them at the long-term capital gains rate of 28% for high-income earners and even more for the highest earners, who have to pay a net investment income tax.

The reason is the US government doesn’t consider gold to be a “productive” investment in the sense that it increases gross domestic product. It would rather you put your money into stocks and bonds. So, in the eyes of the IRS, gold is the proverbial red-headed stepchild.

The good news: Investors who purchase gold through retirement accounts can substantially reduce their tax liability, if not eliminate it altogether.

An IRA allows you to buy gold with pre- or post-tax dollars. And once you start making withdrawals, whether in gold or cash, they will be taxed at your ordinary income tax rate if coming from a traditional IRA or not at all in a Roth IRA.

But how? Conventional retirement accounts such as 401(k)s or 403(b)s don’t allow physical gold to be bought and stored.

The easiest way to earn a tax-deferred status for your gold holdings is to open a designated gold IRA with a reliable precious metals dealer and administrator.

The Hard Assets Alliance offers a unique gold IRA, making it very simple to invest and store precious metals for your “golden nest egg.”

Gold provides true diversification in a retirement portfolio, limiting your exposure to market volatility and corrections. Its price moves independently of stocks and many fixed-income investments, and it makes for an ideal inflation and crisis hedge.

Unlike other gold IRAs, which involve many players and a rather complicated process, the Hard Assets Alliance gold IRA makes it easy to open an account and manage it from one site.

It seamlessly combines an online custodial account, access to HAA’s vast network of bullion dealers, private non-bank domestic and international storage options, and an ultra-secure purchasing platform. Thanks to this revolutionary model, your ease of use and convenience are guaranteed.

Learn more about the four different types of gold IRAs the Hard Assets Alliance offers. Get your free copy of our comprehensive special report, Precious Metals IRA—Secure Your Retirement in Turbulent Times.

Or visit this page to open a gold IRA with the Hard Assets Alliance right now.

© 2017 Copyright Hard Assets Alliance - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable,


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in