Timothy Sumer

A Self-Directed IRA is a regular individual retirement account that offers one the ability to make alternative investments, such as real estate, in additional to traditional investments like stocks and mutual funds. However, you must be aware of the rules so that your plan remains IRS compliant. On this episode of Adam Live, IRA Financial founder, Adam Bergman, Esq. will discuss the rules you need to be aware of when operating a Self-Directed IRA, such as the IRS prohibited transaction rules, unrelated business income tax rules, annual tax filings, and other compliance requirements. This is a must watch video for every Self-Directed IRA investor. Join us LIVE on Wednesday, March 8th at 12PM EST! -- Learn more about the Roth Solo 401(k): -- About IRA Financial: IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware...

When Married Filing Separately Will Save You Taxes - Presented by TheStreet + TurboTax TurboTax Home: TurboTax Support: TurboTax Blog: TurboTax Twitter: TurboTax Facebook: TurboTax Instagram: TurboTax Pinterest: TurboTax Tumblr: ~~~Video Transcript Title: When Married Filing Separately Will Save You Taxes - Presented by TheStreet + TurboTax - [Announcer] TurboTax helps you navigate the 2020 tax season. - Sometimes filing separately will save a married couple on their taxes. Here to explain is Lisa Greene-Lewis, CPA and tax expert at TurboTax. Tell me, Lisa, I thought that married couples should file jointly, but maybe that's not always the case. - Generally, you should file jointly, 'cause you may see a lower tax rate and some bigger benefits like a bigger standard deduction, which if you're married filing jointly is $24,400, but there are some reasons that someone may wanna file separately. - What are some of the reasons that a mar...

In this week's episode, IRA Financial's Adam Bergman Esq. answers questions about filing a 990-T for a Self-Directed IRA, rolling over IRA and SEP funds to a Solo 401(k), and setting up a Solo 401(k) when you have multiple businesses. -- 0:00 *Intro 1:11 *Question 1: I have to file a 990-T for my Self-Directed IRA – do I need to get an EIN for my IRA? 3:53 *Question 2: I have a SEP IRA and a traditional IRA; can I roll those accounts into a new Solo 401(k) I want to set up with IRA Financial? 5:39 *Question 3: I own two businesses with my spouse – one has employees and the other one does not – can we set up a Solo 401(k) plan for the business with no employees? 11:59 *Outro -- Have a question for Adam? Send it to us! info@irafinancial.com -- Discover more videos by IRA Financial: Subscribe to our channel: -- About IRA Financial: IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During...

When it comes to reducing our taxes, there are many different ways to do it. But one of the most straightforward and best tax reduction levers is tax credits. So in this video, I review the 10 best tax credits you want to be aware of. Disclaimer: Please don’t take this as tax advice. This video has been prepared for informational purposes only. Tax rules are constantly changing, so for the latest information, please refer to the IRS Website ( Timecodes: 0:00 - Intro 0:27 - Tax Credit 101 4:07 - Premium Tax Credit (PTC) 5:35 - American Opportunity Tax Credit (AOTC) 6:36 - Lifetime Learning Credit (LLC) 7:23 - Child Tax Credit (CTC) 8:03 - Child & Dependent Care Credit (CDCC) 9:05 - Adoption Credit 9:43 - Saver’s Credit 10:53 - The Earned Income Tax Credit (EITC) 11:39 - Energy Efficient Home Improvement Credit 12:30 - Residential Clean Energy Property Credit ------------ Premium Tax Credit - AOTC - LLC - CTC - Child and Dependent Care Credit - Adoption ...

In this week's episode, IRA Financial's Adam Bergman Esq. answers questions about contributing to a SEP and SIMPLE IRA in the same year, storing IRA-owned coins and tax filing when selling an IRA-owned property. -- *Question 1 from YouTube: Can you contribute to a SIMPLE IRA and a SEP IRA in the same year? *Question 2 from Aaron, H in Great Neck, NY: If I were to purchase gold and silver coins with my Roth IRA, would I have to pay for storage or can I store them myself in my home? *Question 3 from YouTube: In October of 2020, I sold two rental properties that were in my Self-directed IRA LLC and at closing I received 1099s made out to my LLC. Should I fill out a W9 or any other IRS forms concerning this transaction? Thanks for all the great videos. Have a question for Adam? Send it to us! abergman@irafinancial.com -- Discover more videos by IRA Financial: Subscribe to our channel: -- About IRA Financial: IRA Financial Group was founded by Adam Bergman, a forme...