Interest In Real Estate IRAs Is Bursting At The Seams At American IRA, LLC, A National Provider Of Self Directed IRAs, What’s All The Fuss About

Interest In Real Estate IRAs Is Bursting At The Seams At American IRA, LLC, A National Provider Of Self Directed IRAs, What’s All The Fuss About













Self-Directed IRAs Give You Control of Your Retirement


Lexington, KY (PRWEB) January 20, 2012

Realtor Mag recently reported that optimism is building in the housing market. American IRA is noticing the increased optimism as they are receiving an overwhelming interest in Real Estate IRAs.

Jim Hitt, CEO of American IRA, explains, “Many people are surprised to learn that you can own real estate – not just REIT shares or other stocks, but actual rocks, soil, brick and timber real estate – within your Individual Retirement Arrangement. The IRA vehicle allows you to realize all the advantages of the IRA – tax deductions, no capital gains taxes, deferral of income tax, asset protection, and in some cases, tax-free income – while allowing you to invest in all types of real estate.”

Self-Directed IRAs

The key to using their IRA to invest in real estate is a special vehicle called the ‘self-directed IRA ,’ sometimes called a “real estate IRA.” With these plans, they take over the role normally played by investment companies, such as brokerage companies, mutual fund houses and insurance companies. Instead, they, or their designated representative, take close control of their IRA.

IRS rules don’t allow them to have possession of the assets directly, however. They can’t have a suitcase of stock certificates next to the pile of oily rags by the furnace in their garage and call that their IRA. Instead, they have to have a third party administrator hold the assets on their behalf. When they select our firm as the administrator of their IRA account, however, they have much more flexibility to invest in what they know than they would with a traditional brokerage or insurance company. If they are a mediocre stock picker but a real estate ace, it makes sense for them to stick to their circle of competence. Our firm lays the administrative foundation, and lets them do what they do best – pick real estate – within their IRA.

Prohibited Transaction Rules

The IRS does place some limits on what they are allowed to do with assets in their IRA:

•They cannot use the property for their own benefit. This means they cannot stay in a rental property, even for a night. Many people make the mistake of thinking they can use the property for up to two weeks for their own benefit without losing the tax advantages of the IRA. It is true that tax rules for rental properties do allow them to stay in their own property for up to two weeks. However, this is not true for real estate within an IRA.

•They cannot buy property directly from their IRA, nor sell directly to it. Nor can their designated beneficiary, nor any of ancestors or descendants or any spouse of an ancestor or descendant. For example, their IRA cannot buy or sell directly to their parents, grandparents or children, nor to their spouses. Furthermore, their IRA cannot buy or sell directly to companies or entities they own or control.

•They cannot have the IRA pay them or their company to manage it, nor provide any product or service to it. They also cannot have their IRA do business directly with companies controlled by them or their family members.

•Their IRA cannot do business directly with any of the professionals who service the account. For example, their CPA or financial planner cannot also be the person repairing the roof on a property owned by their IRA.

•They cannot lend money directly to their IRA, nor borrow from it.

•They cannot borrow money directly from their IRA, nor can they use their IRA to lend to their family members , defined as their children, grandchildren, parents or grandparents and any of their spouses or entities they control. However, siblings, aunts, uncles and cousins may be acceptable.

•They cannot pledge their IRA as collateral for a loan – all debt in the IRA must be non-recourse debt. They cannot sign a personal guarantee on a loan within the IRA.

•They cannot commingle personal funds with funds within IRA accounts . They may, however, partner with themselves and others at the time of acquisition of the asset.

But enough of what they can’t do. Here is what they can do, investing in real estate in a self-directed IRA :

•Contrary to popular belief, they can, in fact, borrow money within their IRA to purchase real estate. It has to be non-recourse financing (terms may vary by lender); however, non-recourse financing and unrelated debt income tax (UDIT) will apply. UDIT is only assessed on the percentage of the profit that relates to borrowed funds. For more information on this topic, see our article on leveraged real estate.

•They can collect rental income, tax-deferred and all the income goes into their retirement account.

•They can own real estate within a Roth IRA and collect rental income, tax free.

•They can sell property within the IRA without having to worry about capital gains taxes.

•They can buy raw land.

•They can buy residential or commercial real estate.

•They can diversify by buying real estate in other countries.

•They can use a tax-deferred exchange inside their IRA to defer UDIT tax.

Mr. Hitt concludes, “If you enjoy real estate, you want the chance to use leverage within your IRA account to fund your retirement, and you are up for acting as a landlord, you should consider using a self-directed IRA to own real estate. This is a great opportunity afforded to us by our government; however, you need to be watchful of a few pitfalls. If you are mindful of those pitfalls, this is a phenomenal tool.”

About:

American IRA, LLC was established in 2004 by James C. Hitt in Asheville, NC.

The mission of American IRA is to provide the highest level of customer service in the self directed retirement industry. Mr. Hitt and his team have grown the company to over $ 250 million in assets under administration by educating the public that their self-directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more!

To learn more about American IRA, LLC and self-directed IRAs/self-directed Solo 401(k)s, please contact our office at 1-866-7500-IRA(472).

As a self-directed IRA administrator they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms ). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term “they” refers to American IRA, located in Asheville, NC.

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American Integrity Insurance Company Partners with IVANS

American Integrity Insurance Company Partners with IVANS












Tampa, FL (PRWEB) November 05, 2012

IVANS, Inc. announced today that American Integrity Insurance Company has automated its agent communication and download functionality using the IVANS Insurance Carrier Exchange (ICE) platform. American Integrity is taking advantage of IVANS ability to create a comprehensive extract file of data to be sent to its agents which improves operational efficiencies and drastically reduces underwriting error.

IVANS Common Extract Services ties into the American Integrity’s database and builds an extract file used for daily download purposes. The program runs parallel to American Integrity’s system where new business, policy changes and all other underwriting transactions take place.

“The process is pretty straight forward and it now all runs in our environment so that we have full control over the download process,” said Amanda Neumann from American Integrity.

Robert Ritchie, President & CEO was impressed with IVANS ease of use for American Integrity’s independent agent network. “With the importance that American Integrity puts on establishing a great working relationship with our independent agents, it was important to get this functionality implemented as quickly as possible, especially with our upcoming policy acquisition from Citizens Property Insurance Corporation. We are very pleased with the efforts of IVANS to get this done.”

IVANS was an obvious choice because of its experience and the overall number of download projects/ implementations that it handles annually (over 70). IVANS staff has extensive experience in mapping field data according to ACORD standards and making any necessary scripting changes that are required.

About American Integrity

American Integrity is a Florida-only residential property insurance company. American Integrity Insurance is committed to providing value-added innovative products while providing outstanding customer service to Floridians.

Our mission is to stand behind our core values and provide customers peace of mind with products and services. American Integrity Insurance Company is based out of Tampa, Fla. For more information, visit http://www.aiicfl.com.

About IVANS

For nearly 30 years IVANS, Inc. has been the largest insurance data exchange in the United States that is trusted by more than 350 insurance carrier customers and 30,000 independent agents nationwide. The Company’s vision is to expand its advanced managed communication platform between industry partners by building enhancements and new services through IVANS Carrier Exchange (ICE) platform. Known for being a forerunner of ACORD standards with numerous ACORD awards and five ACE Certified recipients, IVANS focus on agency-company interface solutions includes AL3 based policy and claims download, and XML real-time quote, issue and service transactions. IVANS, which was founded by 21 insurance companies and is headquartered in Stamford, Conn., also has offices in Tampa, Fla. and Cincinnati, Ohio. For more information, visit http://www.ivans.com.























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WorldClaim Global Claims Management supports the American Red Cross at AAHOA Annual Event

WorldClaim Global Claims Management supports the American Red Cross at AAHOA Annual Event










Atlanta, GA (PRWEB) May 9, 2009

WorldClaim Global Claims Management and the American Red Cross partnered to sponsor a luncheon on April 24, 2009, for more than 2,000 attendees of the Asian American Hotel Owners Association (AAHOA) 2009 Annual Convention and Trade Show. Attendees at this year’s annual event gathered to celebrate AAHOA’s 20th anniversary and to hear keynote speaker Jack Welch, General Electric Company’s former Chairman and CEO and Fortune Magazine’s Manager of the 20th Century. The AAHOA is a significant force in the hotel industry, evolving from a small group of hoteliers in 1989 to more than 9,000 members today, and representing over 40% of the hotel industry.

WorldClaim made a contribution to the American Red Cross on behalf of AAHOA for each luncheon attendee. This continues WorldClaim’s commitment to the American Red Cross, which mobilizes relief to families affected by disasters. During Red Cross Month, on March 28, 2009, WorldClaim participated in the first Annual Vintage Car Show and Silent Auction benefitting the American Red Cross, held at Strawberry Fields Gallery in the Atlanta area.

Like the Red Cross, WorldClaim Global Claims Management supports people affected by disasters. WorldClaim public adjusters are available following hurricanes, storms and fires to review damage, assess the property owner’s insurance policy benefits, and complete the analysis necessary to file property and business interruption claims. Contact WorldClaim directly at 1-800-831-1331 or go to http://www.worldclaim.net for more information.

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Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.