With a self-directed IRA and other self-directed accounts, you can qualify for big tax-deductions (up to $51,000) and use the savings for additional investment opportunities. Here’s how:

1. Open Accounts for Spouse and Other Family Members – The more accounts at your household could reduce your family’s tax liability and – even more important – could allow you to partner your accounts (if eligible) to complete more and bigger deals.
2. Multiple Accounts Could Mean More Deductions and More Deals – Many clients discover that they can reduce their taxes by up to $51,000 by opening multiple accounts, beyond just a traditional or Roth IRA, such as a SEP, Solo 401(k), Health Savings Account (HSA) or Coverdell Education Savings Account (CESA). With those savings, more money for more deals is possible. 
3. Make a Double Contribution to Your Self-Directed Account – From now through April 18, you can make a double contribution to your traditional or Roth IRA – up to $5,000 for 2010 and another $5,000 for 2011. If you’re 50+, you can add the “catch up” amount of $1,000 to each year’s contribution. For your 2010 contribution, you’ll gain a nice tax deduction, if you qualify. And your early IRA contribution for 2011 gives it more time to grow and be protected from taxes.

There you have it. Three easy, tax-reducing strategies you can use immediately. But you have to act fast to take advantage of these opportunities, time is running out. Contact an Equity Trust Account Executive today at 1-888-382-4727. Or, get a Free IRA Checkup by completing this quick questionnaire.

Filed under: Uncategorized on March 8th, 2011