Los Angeles, CA. (June 9, 2009) – For individuals with plans to retire self-sufficiently, retire early or perhaps even both, Freedom Growth (www.FreedomGrowth.com) has announced a very unique investment strategy that will be possible for the next six months. There are two provisions in the IRS tax code that, if implemented strategically, will allow investors to drastically improve their retirement outlook. But this strategy should be implemented before December 31, 2009.
The Gulf Opportunity Zone Act, or Go Zone, is a provision in the tax code created to encourage private investment into the regions devastated by Hurricanes Katrina, Wilma and Rita. The code allows for a one-time write-off of 50% of the depreciable basis of the property. According to David Coe, founder of Freedom Growth, an IRA real estate investment company, “…if you purchase a property in the Go Zone for $150K and the depreciable portion is $120K, you could receive a $60K tax deduction.” How you use this deduction is part one of the strategy according to Coe.
Coe says that part two involves the Tax Increase Prevention and Reconciliation Act (TIPRA) that allows an individual to convert a traditional IRA to a Roth IRA regardless of income level.
Mr. Coe states that 2010 is an exception for the typical Roth IRA rules due to TIPRA and presents a huge opportunity. Coe explains the strategy in its simplest form. “If a person buys a Go Zone property in the next 18 months, they obtain a cash-flowing investment property and the tax deduction. Next year, they convert their traditional IRA to a Roth. The Go Zone tax deduction can be used to offset the taxes from the Roth conversion.”
Stipulations in the tax code require very precise implementation of this strategy. “Most financial planners, CPAs or real estate agents aren’t versed with the nuances of each program,” states Coe, “but Freedom Growth and our financial partners are. Freedom Growth is a real estate specialist in this type of investment strategy allowing investors the opportunity to take full advantage of this limited time offering.”
About Freedom Growth:
Freedom Growth (www.FreedomGrowth.com) is an IRA real estate investment company that helps small business owners and individuals diversify their retirement portfolios with a wide range of self directed real estate investments.
