Learn more about the Self-Directed IRA –
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Reimbursement of miscellaneous expenses, such as gas to visit a real estate property owned by your Self-Directed IRA, is probably not worth it. You would need to justify each expense to the IRS to prove it was solely attributable to the IRA investment.
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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 that they can use an IRA or 401(K) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions.

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When it comes to investing, self-directed IRAs offer a unique way to diversify your portfolio and maximize your retirement savings. But there are certain expenses associated with managing a self-directed IRA that can add up quickly. Fortunately, many of these expenses can be reimbursed from your IRA account.

Reimbursing expenses from your self-directed IRA can help you save money and make sure your retirement savings are being used as efficiently as possible. Here are some of the most common expenses that can be reimbursed from your self-directed IRA:

1. Investment fees: Investment fees such as broker fees, commissions, and account maintenance fees can be reimbursed from your self-directed IRA.

2. Legal fees: If you need to consult with an attorney or accountant regarding your self-directed IRA, the fees associated with these services can be reimbursed from your IRA account.

3. Custodial fees: Custodial fees for the self-directed IRA can also be reimbursed from your IRA account.

4. Tax preparation fees: If you need to have your self-directed IRA taxes prepared, the fees associated with this service can be reimbursed from your IRA account.

5. Bank fees: If you have to pay any bank fees associated with your self-directed IRA, these can also be reimbursed from your IRA account.

It’s important to note that not all expenses associated with managing a self-directed IRA can be reimbursed. For example, expenses related to the purchase or sale of investments, such as taxes and transfer fees, cannot be reimbursed from your self-directed IRA.

In addition, the IRS has strict rules regarding the reimbursement of expenses from a self-directed IRA. For example, all reimbursements must be made within 60 days of incurring the expense and must be properly documented.

If you’re considering investing in a self-directed IRA, it’s important to understand the rules and regulations surrounding the reimbursement of expenses. By doing so, you can make sure that your retirement savings are being used as efficiently as possible.