IRA Financial Group Partner Adam Bergman Comments on Trump's Tax Plan and The Impact on Retirement Accounts - Insurance News | InsuranceNewsNet

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October 3, 2017 Newswires
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IRA Financial Group Partner Adam Bergman Comments on Trump’s Tax Plan and The Impact on Retirement Accounts

PR Web

New York, NY (PRWEB) October 03, 2017

IRA Financial Group, the leading provider of "checkbook control" self-directed IRA LLC and Solo 401(k) plan solutions, announces that partner Adam Bergman authored an article for Forbes.com on the impact President Trump's proposed tax plan with have on retirement accounts. The article summarized the main impacts the tax plan will have on individuals, corporations, as well as retirement accounts.

According to Adam Bergman, "the proposed tax plan is short on many important details, however, the increase in the standard deduction under the plan coupled with the elimination of the state and local tax deduction could provide many households with less incentive to itemize their income tax deductions, making the tax deductions such as the mortgage income tax deduction and charitable contribution tax deduction less attractive. Whereas, in the case of the reporting of pre-tax IRA or employer qualified retirement plan contributions, such as a 401(k) plan on the 1040 Income Tax Return, the IRS categorizes these deductions as above-the line deductions, meaning one can take the IRA or 401(K) plan deductions regardless of whether one itemizes or claims a standard deduction. In addition, the Republican tax plan includes many income tax changes as well as many unknown details. However, the tax and retirement benefits associated with making pre-tax IRA or 401(k) plan contributions appear to be a big winner."
  Adam Bergman is a partner with the IRA Financial Group, LLC, the markets leading provider of Self-Directed IRA LLC and Solo 401(k) Plans. Mr. Bergman is also the President of IRA Financial Trust Company, a Self-Directed IRA custodian. In addition, Mr. Bergman is a recognized expert on IRAs and 401(k) Plans and is the founder of the BergmanIRAReport.com and the Bergman401KReport.com. Mr. Bergman is the author of the books titled "Going Solo: America's Best Kept Retirement Secret For the Self-Employed," "The Checkbook IRA: Why You Want It, Why You Need It," "Turning Retirement Funds Into Start-Up Dreams," and "In God We Trust - In Roth We Prosper" available on Amazon, and is a frequent contributor to Forbes. Mr. Bergman has advised over 12,000 clients on the Self-Directed IRA LLC and Solo 401(k) Plan solutions.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market's leading provider of self-directed IRA LLC and Solo 401(k) plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646. To learn more about establishing a self-directed IRA account with the IRA Financial Trust Company please visit http://www.irafinancialtrust.com or call 800-472-1043.

Read the full story at http://www.prweb.com/releases/trump-tax-plan-ira-401k-/impact-adam-bergman-blog/prweb14763639.htm

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