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THE END IS COMING – Preparing for the Year’s End


Our 2013 year is about to come to a close. Here are some year-end reminders for you. These rules apply to you if self-directed IRA is a Traditional (pre-tax) or Roth (after-tax).


Hitting the max out limit on your credit card, BOOOOOO! Hitting the max out limit in your IRA, HOORRRRRRRRAY!

To take full advantage of the tax benefits of a Self-Directed IRA you should contribute $5,500 this year.  If you are lucky enough to turn 50 years old in

SAVINGS blocks

2013, you are in the elite category of 50+ and can contribute $6,500 per year into your self-directed IRA account.    If you file a joint return, you and your spouse can max out your Self-Directed IRA contributions even if only one of you is working or making taxable compensation.

You have until April 15, 2014 to max out for 2013.

It’s a good idea to max out each year, just ask your CPA!  It’s a bad idea to contribute over the above-mentioned limits.  If you do contribute too much, the IRS gets to put their hand in your cookie jar for a whopping 6% tax each year on the excess amounts remaining in your account.  You have until the due date of your 2013 tax return (including extensions) to withdrawal the excess contribution.

The limits are the same for 2014, so don’t forget to add your $5,500 or $6,500 contribution to next year’s budget.

All contribution forms should be faxed (1-877-890-0929), emailed (support@accuplan.net) or mailed (6900 Westcliff Drive, Suite 603, Las Vegas, NV   89145).


A possible tax credit?  Yes, please!

You may be eligible for a tax credit when making contributions to your Self-Directed IRA.  If you are 18 or old, not a full-time student and not claimed as a dependent on someone’s tax return, you may qualify.

The amount of the credit is 50%, 20% or 10% of your Self-Directed IRA contributions up to $2,000 (or $4,000 if you are married filing jointly), depending on your adjusted gross income reported on your Form 1040 or 1040A.

Rollover contributions are not eligible.  Distributions may affect your credit.

2013 Saver’s Credit

Credit Rate

Married Filing Jointly

Head of Household

All Other Filers*

50% of your contribution

AGI not more than $35,500

AGI not more than $26,625

AGI not more than $17,750

20% of your contribution

$35,501 – $38,500

$26,626 – $28,875

$17,751 – $19,250

10% of your contribution


$28,876 – $44,250

$19,251 – $29,500

0% of your contribution

more than $59,000

more than $44,250

more than $29,500

Here’s how it works:

Example: Jill, who works at a retail store, is married and earned $30,000 in 2013.  Jill’s husband was unemployed in 2013 and did not have any earnings. Jill contributed $1,000 to her IRA in 2013.  After deducting her IRA contribution, the adjusted gross income shown on her joint return is $29,000. Jill may claim a 50% credit, $500, for her $1,000 IRA contribution.

Think you might qualify or want to see the full rules?  See Form 8880 – Credit for Qualified Retirement Savings Contributions.


If you turned the magical age of 70½ or are about to, check out our blog about how RMD’s work.


Making a donation from your IRA, or using your RMD to make a donation

A Qualified Charitable Distribution (QCD) is an otherwise taxable distribution from your Self-Directed IRA owned by an individual who is 70½ or older that is paid directly from your Self-Directed IRA to a qualified charity.  A Self-Directed IRA account holder can exclude from gross income up to $100,000 of a QCD made for the year, and a QCD can be used to satisfy any Required Minimum Distributions taken from your Self-Directed IRA.  Also, the amount of a QCD excluded from gross income is not taken into account in determining any deduction for charitable contributions.  For more information on charitable donations see Notice 2007-7, Section IX.


Now is the time to tie-up loose ends for this year and plan for next year.  This year, there are maxed out contributions to be made, saver’s credits to apply for, RMDs to take and Charitable Donations to be made.  For next year, budget your future contributions, start due diligence on next year’s investments, budget a couple improvements on your current investments, and follow us on your favorite social media sites so we can keep you educated on the amazing world of self-directing your retirement funds!


Jaclyn M. Grella

800-454-2649 x1119


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