Answer: A self-directed IRA is an account where the investor establishes and contributes to the account. The investor makes all of the decisions with respect to the investment and the assets held in the account. Remember that an IRA is a type of tax deferred savings plan and the Internal Revenue Code applies. If you wish to find more information concerning tax issues, contact the Internal Revenue Service at www.irs.ustreas.

The Custodian is a bank or savings and loan association, as defined in IRC 408(n), or any other entity that has the approval of the IRS to act as Custodian. In order to have a self-directed IRA, it needs to be held with a Custodian who will allow investments into non-traditional investments. There are very few of these types of custodians.

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ANSWER: You may purchase a lot using your self-directed IRA. For more details, visit www.oceanstarestates.com/self-directed-ira.html. Ocean Star Estates website: plat map, lot information table, virtual walking tour, frequently asked questions, topographic map, etc. Contact us at 913-381-4520 (or toll-free within the U.S. at 866-465-3976) or info@oceanstarestates.com.

Yes, and you may contribute to both, however, the deduction for the contribution to your IRA may be limited, depending on your income and your contributions to the 1165(e) plan. The deduction between the two cannot exceed the $8,000 limit imposed by law. For example, if you decide to open an IRA account with $3,000, you may only contribute a maximum of $5,000 to the 1165(e) plan. The sum of the two cannot exceed the $8,000 limit.

Your 1165(e) plan allows you to save a larger tax-deferred amount than you would be able to save through an IRA, depending on your income level. Some 1165(e) plans allow you to apply for a loan from the money contributed to your account, which you cannot do with an IRA. The 1165(e) plan's investment options offer greater flexibility and opportunity for diversification than that offered by IRA investment options.

Regardless of income, any individual with compensation from employment or earned income from self-employment and under age 70? (or the spouse of a working individual) is eligible to contribute to a Traditional IRA. Contributions for an unmarried person are tax deductible if the individual is not an active participant in an employer-sponsored retirement plan. Those who are active plan participants must meet specified income limits to qualify for tax-deductible contributions.

Yes, individuals can contribute to a traditional IRA whether or not they are covered by another retirement plan. However, they may not be able to deduct all of their contributions if they or their spouses are covered by an employer-sponsored retirement plan. [Note that contributions to a Roth IRA are not deductible and income limits apply.] See Publication 590 for further information.

Limits vary with the different types of self-directed IRA's. Our link to the 590 Publication can help you determine what the limits are, or a tax advisor or CPA can also help with the determination for you as an individual.

FIRST SAVINGS BANK pays you a competitive rate of interest on those funds. They are held within your self-directed IRA as a Money Market Asset. You can always look at your un-invested cash and investments via our Private Banking Internet Site. Your Money Market Asset is FDIC Insured and regulated by those rules. All other investments are not FDIC insured, may lose value, and have no bank guarantee.

IRS will deposit your refund to any of your checking or savings accounts with U.S. financial institutions per the account and routing numbers you provide, but you should ensure your financial institution will accept direct deposits to prior year IRA accounts. with all IRA deposits, the account owner is responsible for informing their IRA trustee of the year for which the deposit is intended and for ensuring their contributions do not exceed their annual contribution limitations.

This is a difficult number to determine. However, the self-directed industry is growing at a rapid pace and is expected to see upwards of $2 trillion enter the market during the next two years. Some of the latest numbers show more than 45 million IRA holders in the U.S. and less than 4% of those funds are held in non-traditional assets.

Yes you can. Guidant Financial Group is a Retirement Account Facilitator. Because of this, we are able to offer many more options than a self-directed IRA custodian. Our business is to make this process simple to establish, easy to understand and effortless to maintain. However, we do not suggest you use a self-directed IRA to purchase a business. Plans such as IRAs and 401(k) which engage in business activity generate Unrelated Business Taxable Income (UBTI).

FIRST SAVINGS BANK limits the types of investments you make to Deeds of Trust, Mortgages, LLC's and Partnerships that invest in Deeds of Trust and Mortgages. FIRST SAVINGS BANK is a self-directed IRA custodian; as a passive custodian we do not offer investment advice nor do we recommend any investments or an investment product. We will not use any type of solicitations or pressure you to invest in certain products.

Cash, property titles and all other assets of the IRA are held by a trustee or custodian. Unlike a qualified retirement plan, the law requires that the trustee or custodian be a bank, federally insured credit union, savings and loan association, or an entity approved by the IRS to act as trustee or custodian.

Knowledgeable investors with appropriate investment objectives and an acceptable risk tolerance may consider investing in futures in their self-directed IRA and Solo 401(k). As Millennium Trust does not offer investment advice, we do not warrant the suitability of any particular investment. Please consult with your investment advisor, broker and/or tax advisor to determine if futures are suitable for your investment portfolio.

That depends. Working with a traditional self-directed IRA custodian makes investments like tax liens, foreclosure homes and real estate difficult. With a traditional self-directed IRA custodian, the client cannot have any personal interaction with the IRA funds. They have to petition the IRA custodian to make an investment on their behalf. Banks move at a pace much slower pace than the investment community, and it can take weeks to complete a transaction.