Ecuador IRA Tax Break

by | Mar 16, 2009 | Archives

Here is an great Ecuador IRA tax break. If  you buy an Ecuador house or condo with your non pension money and invest your IRA funds in a second condo… each trip to Ecuador can become tax deductible.

Here is a second Ecuador tax break. If  you live in Ecuador… all income coming from abroad is tax free.

There is a third Ecuador tax break as well. There are no capital gains on occasional real estate sales.

So if you have a pension…  and buy fixer uppers or make good buys in real estate to resell and  make a profit… there is no tax… here.

Plus if you play it right all your travel to Ecuador may be tax deductible.  Be sure to consult with your tax adviser to make sure you do this in the right way.

One IRA administrator that will buy overseas property for IRA’s also  offers a debit card.

Entrust’s IRA debit card provides convenience & flexibility.

The card gives you access to to IRA funds for investment purchases and makes it easy to pay for goods and services or take distributions at ATMs

The Entrust Group  are administrators of self-directed retirement plans and offer this IRA Debit Card together with an IRA Card Checking Account.

The card and checking system provide an innovative, easy, convenient way for self-directed IRA account holders to purchase new, or improve existing, IRA assets, or take required minimum distributions from the available funds in their retirement accounts.  Self-directed IRA account holders can the card whixh is marketed under the Visa® brand, to pay for goods or services wherever Visa is accepted.  It can also be used at ATMs around the world for cash withdrawals.

Unlike other retirement plan-linked cards, Entrust’s IRA Debit Card and Checking service does not have, or allow for, loans of any kind.  Those are prohibited transactions. All available funds must be un-invested in the IRA (minimum $1,000 opening balance).  Any transaction that is not an expense or asset purchase, for the IRA, is viewed as a distribution and will be administered as such.

IRA Card Checking transactions are considered distributions unless proven otherwise.  Account holders have 30 calendar days, following a transaction, to submit the proper documentation to show that the expenditure was for an IRA asset.  If the documentation does not reflect this, Entrust is legally required, and will file, reports to the IRS that indicate the amount of the payment taken from the IRA in question (IRS Form 1099-R).

It is impossible to overdraw on an Entrust IRA Card Checking account because, whether using the IRA Debit CardT or The IRA Checking, an individual is limited to only the funds that have been transferred to their IRA Card Checking account from the un-invested funds within their IRA.  Any transaction that would exceed the account’s limit would be declined.

For people who are of the age that they must begin to take required minimum distributions – starting at 70 ½ years of age – distributions can be taken seamlessly at any ATM, making this the most convenient way for people to access their money.

The Entrust Group has been a provider of account administration services for self-directed retirement plans for over 25 years,

Entrust will speak at Jyske global Asset Managements Naples Seminar. Learn how to gain free attendance at this multi currency seminar and save $499 or $750.

Until next message good global investing and living.


Join us in 2009.

Merri, our webmaster and I have created a new course on how to build a web business with a webmaster.  Here is a special offer on this new course.

You can enroll in this special course for $299. However if you sign up for three courses in any one month.

Attend any two Ecuador courses or tours in a calendar month…$949 for one.  $1,349 for two.

Attend any three Ecuador courses or tours in a calendar month…$1,199 for one.  $1,799 for two

Future 2009 courses

May 29-31  JGAM Multi Currency investment Seminar Naples Florida

June 12-14 Shamanic Mingo Tour
June 16-17 Imbabura Real Estate Tour
June 18-21 Ecuador Coastal Real Estate Tour

July 3-6 Ecuador Import Export Expedition
July 8-9 Imbabura Real Estate Tour
July 10-13 Ecuador Coastal Real Estate Tour

July 24-26 IBEZ North Carolina

Sept. 17-21 Ecuador Spanish Course
Sept. 23-24 Imbabura Real Estate Tour
Sept. 25-28 Ecuador Coastal Real Estate Tour

Oct. 9-11 IBEZ North Carolina

Oct. 21-24 Ecuador Import Export Expedition

Nov. 6-8 IBEZ Ecuador
Nov. 9-10 Imbabura Real Estate Tour
Nov. 11-14 Ecuador Coastal Real Estate Tour