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Silver $17.34 0.23
Talk to a representative: 855-242-4121

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Gold $1295 16.2
Silver $17.34 0.23
Talk to a representative: 855-242-4121


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Trump Shaking Up Old Thinking

As we see the old status quo being ripped apart by our new president-elect, we at Augusta Precious Metals think it’s a great opportunity to make gold easier to include in tax-deferred retirement accounts. We don’t know whether Mr. Trump has thought about any of these proposals, but we would like to see them addressed:

1. Increase IRA Contribution Limits: In our opinion, IRA limits are way too low. We open many Augusta Precious Metals gold IRAs for our customers, which means they are serious about investing in gold for the long term. However, right now, the maximum contribution is $5,500 a year ($6,500 if you’re over age 50). We would like to see this increased substantially, so responsible individuals can put aside more tax-deductible gold for their retirements. If this were to happen, we believe it could unleash huge new demand for gold and other precious metals allowed in a gold IRA. Those already invested in gold might enjoy a windfall in higher gold prices.

2. Diversify IRA gold coins: IRA rules are quite strict regarding which gold coins can be placed in a gold IRA. We would like to see the list of acceptable coins expanded to include other popular coins, such as:
a. Austrian Corona and Ducat
b. Belgian Franc
c. British Sovereign and Britannia
d. Chilean Peso
e. Columbian Peso
f. Dutch Guilder
g. French Franc
h. German Mark
i. Hungarian Korona
j. Italian Lira
k. Mexican Peso and Ounza
l. South African Krugerrand
m. Swiss Franc

3. Allow gold in Employer Sponsored 401(k)s: If gold is good enough for an IRA, it should be good enough for an employer sponsored 401(k) and other employer retirement plans. This restriction never made any sense to us. We think there would be a lot of support for this type of change.

 

We know Donald Trump loves gold – just look at the decorations on any of his properties. We can’t prove it, but we think millions of Trump voters are big fans of gold, because its value doesn’t depend on government guarantees. If you agree, you’ll want to open an Augusta™ Gold IRA from Augusta Precious Metals right now and get your 2016 tax deductions by contributing up to $6,500 before April 15, 2017. Read all the great reviews of this product at TrustLink.org. Then just contact us – we’ll set you up and handle your gold purchases. Make America great again, with gold!

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Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.

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