I will not overburden you with too much explanation here, but suffice to say, the article in the link below is one of the best articles I have read about Obama’s agenda.  I aligns with my belief that we are witnessing a historic change in American politics and potentially a world shift in power.  The US cannot maintain its leadership role if you remove the incentives for productivity.

Anyone truly interested in asset protection and diversifying your wealth should seriously take precautions and educate themselves on what is going on around them.  Whether you agree with this article or not, you should seriously consider the possibility that the author is correct in his assessment.  Our role in assisting clients with asset protection strategies involves the avoidance of risks that may befall you.  One of those risks is government interference.

Obama and ‘Redistributive Change’

As I stated in yesterday’s article, our firms goal is to assist clients in developing their asset protection strategies.  Our belief is that your wealth is at risk from two main threats; government interference and litigation.  Under the heading of government interference lies taxation and we strive to help our clients minimize taxation through various asset protection strategies.

Today I want you to be aware of Self-Directed IRA’s, or SDIRA’s.  Most people are unaware that you can not only manage your own IRA investments, but you can invest in whatevever asset class you chose.  Traditional IRA custodians are generally investment brokers and of course they want to sell you investment where they derive fees.  It is highly unlikely you will find an investment broker offering you commercial real estate, gold, oil field rights, vacation properties, or cattle as investment options.

But what if your very familiar with farming and you have a very good understanding of the cattle market?  This may be a very good investment for you, but your investment broker won’t sell you these types of investments and won’t allow them in your IRA.  But there is an option.

With a SDIRA (there is also a Self-Directed RothIRA but I will just group them together and call them both a SDIRA), you can invest in any asset class you wish.  You have full control of your assets and how they are managed.  Essentially, the way it works is the custodian assists you in forming an LLC which is owned by your IRA.  You become the manager of the IRA, giving you full control of the investment of funds.  You can then chose to invest this money as you see fit.  There are restrictions however, but they are minimal and certainly not a deterrent.

If you chose to buy rental properties, vacation properties, gold bullion or coins, tax lien certificates, private placement loans, or cattle – no problem.  Its your IRA and you are the manager.  There are a few custodians that are out there who can set this up for you.  One of them is a friend of mine, Steve.  He runs a company that helps his clients set up SDIRA’s (and Roth’s) in order for them to take control of their retirement savings.  Who do you think is more interested in your success – a mutual fund manager or you?  Steve can also convert your existing IRA or Roth into a SDIRA.

As I stated in yesterday’s article, 2010 is a great year to convert your  IRA into a Roth IRA.  You can take advantage of an  opportunity that  may not come again in your lifetime.  This can save you a huge amount of money over your lifetime in taxes.  And if you really want to supercharge your retirement savings, convert your IRA into a Self-Directed Roth IRA.  If you are interested in contacting Steve, please send me an email and I will provide the connection.  Live well.

My firm’s job is to help clients with asset protection strategies.  There are two main threats to your wealth; government interference and litigation.  Under the government interference category falls taxation.  One of our objectives is to help clients minimize taxation and therefore we provide you with useful information that can benefit you in your goal of asset protection.

The  federal government’s extreme misuse of taxpayer dollars may very well work out to be a huge opportunity for many.  Because of the astronomical deficits, the IRS has given one year opportunity for anyone to convert their IRA to a ROTH IRA.  I won’t go into details about the differences between them as you are either aware of it, or have access to a computer and can google it yourself.

Up until 2010, if you earned more than $100,000 per year, you were not allowed to convert to a ROTH.  This restriction is lifted for 2010 only.  Why would the government do this you may ask?  Short term tax revenues in a midterm election year, of course.  They are sacrificing long term tax revenue for short term gain.  If you have $100,000 in your IRA and convert to a ROTH, you will pay income taxes on the tax basis, for arguments sake, lets say you will pay $30,000.  Then your $70,000 can grow tax free forever and you can take distributions tax free.

As an added benefit, you don’t even have to pay the $30,000 in taxes in 2010.  You can make payments in 2011 and 2012.  Essentially the IRS is hoping many people convert in order to raise tax revenue over the next 3 years in lieu of the higher taxes they would collect when you reach retirement age.  I would highly suggest you seriously consider this option and talk it over with your CPA.

The following is an excerpt from the IRS specs on sources new armaments for the officers.  Hmmmm, now why would IRS agents need to be so well armed?

The Internal Revenue Service (IRS) intends to purchase sixty Remington Model 870 Police RAMAC #24587 12 gauge pump-action shotguns for the Criminal Investigation Division. The Remington parkerized shotguns, with fourteen inch barrel, modified choke, Wilson Combat Ghost Ring rear sight and XS4 Contour Bead front sight, Knoxx Reduced Recoil Adjustable Stock, and Speedfeed ribbed black forend, are designated as the only shotguns authorized for IRS duty based on compatibility with IRS existing shotgun inventory, certified armorer and combat training and protocol, maintenance, and parts.

You really have to wonder why they are buying more guns for their officers.  Or I guess I should say, why WE are buying more guns for IRS enforcement officers.  Are they concerned with their ability to collect all their proposed tax increases?  Do they really intend to show up in your office with an armed officer at your next audit?

With Obama’s $1.9T tax increase for the wealthy, maybe they plan on doing raids of your office before you flee the country with a suitcase of cash.  Who knows what they are thinking, but I seriously question my governments decision to force me to pay tax at the end of a gun.

If asset protection is important to you, now is the time to diversify.  Whether you pursue a domestic or an offshore asset protection structure, now is the time to act.  When your government is arming itself to collect your money, you should really take steps to protect your assets.  Live well.

I found this video on the internet and thought it was pretty humorous.  Let me know what you think.