American IRA Discusses is it Possible to Use a Self-Directed IRA for a Charitable Cause?
CHARLOTTE, NC / ACCESSWIRE / March 14, 2021 / Can investors who use a Self-Directed IRA make good use of their retirement assets and benefit the world around them? The answer to that question is a “Yes, but” according to a recent post at American IRA. The Self-Directed IRA administration firm, based in Asheville, NC, recently released a blog post that talked about using a Self-Directed IRA for charitable causes.
The post first noted that charitable donations are a separate thing from a vaguer concept of doing good. The IRS, for example, allows investors to deduct certain charitable donations from a tax return. With a Self-Directed IRA, the purpose of the account is to make investments for the long-term future, which is at odds with giving money away.
But with that fact aside, the post delved into a specific example from MarketWatch. In the example, a couple used already-existing IRA funds to rehab a house that had been battered by Hurricane Katrina. This rehabbing not only increased the value of the home but also created a solid return on investment for the original investors. The couple was then able to recoup that money-along with the investment return-into their respective IRAs.
“When you use a Self-Directed IRA, you’re using your own capital,” said Jim Hitt, CEO of American IRA. “So, it’s only natural that some people are looking to make that capital do as much good for the world around them as possible. It is possible to find win-win scenarios in which investors make money, and the world around the investor is made better because of the investments made. That is one key example, but it is not the only way possible, either.”
For example, investors could also put money into improving an investment and then turn around and rent that property to someone else. In doing so, investors are incentivized to better the world around them. It is not a direct charitable donation, but with well-timed investments, investors are more than capable of accomplishing useful things.
“American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $500 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.
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 and Charlotte, NC.”
SOURCE: American IRA, LLC
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