BEVERLY HILLS, Calif., Feb. 24, 2016 (GLOBE NEWSWIRE) -- via PRWEB - For over forty years, Augusta has served its customers with a stellar customer service record. Augusta is committed to providing the best service when it comes to your investments in precious metals for tax saving purposes.
Augusta Precious Metals has always believed in complete transparency with its customers. The relationship the company has with them is one forged on the basis of trust. Augusta has consulted multiple attorneys to advise it on the legality of its flagship product, the Augusta Gold IRA. However, Augusta encourages, and in fact deems it imperative that every individual consult legal counsel of their own choosing before investing in its products.
Reasons to Invest
Coping with the sudden loss of a regular income can be tricky. The situation gets a lot more complicated since at the typical retirement age, one may not be in the best of health. Unexpected expenses like medical expenditures can suddenly come up, and in the absence of sufficient funds and preparedness, the situation can quickly worsen. Also, due to inflation, money sitting in a savings account actually loses value unless it is invested and generates return that can outpace inflation.
Avenues of Investment for the Risk Averse
Individual Retirement Accounts: An IRA is a long term investment account that enables people to start saving for retirement early on in life when they are at the peak of their earning potential. There are several tax benefits on the amount that is invested in an IRA, so that it actually saves money in the present while securing the investor's future.
Best gold IRAs: Investing in gold can be a reliable method of protection against volatile market conditions. Precious metals like gold and platinum are precious by virtue of their rarity, that is, there is a limited amount of them on the planet. This higher security, lower risk nature of gold IRA frees up the potential to invest in high risk, high reward avenues, thereby diversifying the portfolio.
The Augusta Home Delivery Gold IRA Program
Augusta Precious Metals offers the Home Delivery Gold IRA program as a unique take on investing in precious metals. Depending on the choice of the investor and subject to meeting the prescribed guidelines set by the IRS, Augusta Precious Metals arranges for delivery of the gold bought through an IRA to the investor's home or any other location they deem suitable. The customer is required to meet certain requirements for storage and security of the metal, failing which the gold will be deemed to have been "distributed," opening the investment portfolio to taxes and penalties.
The Methodology Behind the Program
Section 26 USC 408 of the United States tax code specifies that an IRA cannot invest in collectibles, with the exception of items set forth in that section. Section 26 USC 480(m)(3)(A) indicates that certain coins, including gold American Eagle coins, can be held within an IRA but does not specify where or how such coins must be stored. Hence, it has been concluded that these investments can be stored at any place deemed fit by the investment owner, including at the owner's home, so long as the owner does not run afoul of any IRS regulations related to prohibited transactions.
Caveats to Note
Rules for storage: The owner and operator of the IRA must adhere strictly to certain specified requirements and make sure that they do not run afoul the set rules and regulations that govern the handling of gold and other precious metals when in use as tax deferred investment instruments. If these guidelines are not maintained, the IRA may be deemed to have been "distributed" and will then be subject to severe taxation and penalties.
Legal merit: Augusta Precious Metals has consulted multiple attorneys on this matter and while all of them are of the opinion that they believe that storing American Eagle coins at home in personal custody is legal, it is recommended that all precious metals bought under an IRA, including American Eagle coins, be stored, at minimum, in a registered safe deposit box at a U.S. bank to eliminate any uncertainties. Because an Augusta customer is not a client of Augusta's attorneys, and can therefore not rely on the opinions of Augusta's attorneys, Augusta instructs its customers that it is imperative they consult with their own legal counsel to discuss matters and to ensure they fully understand the risks associated with the structure.
Augusta is a benchmark for trust and transparent business practices
Augusta Precious Metals is an A+ graded accredited business by the BBB and the family behind Augusta has been offering trustworthy and reliable financial guidance to the American citizenry for more than four decades. Its business practices are rooted in values and traditions and it has always operated with a "Customer First" attitude.
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