|
Self-Directed IRA
A self-directed individual retirement account is an individual retirement account (IRA) which allows alternative investments for retirement savings. Some examples of these alternative investments are real estate, private mortgages, private company stock, oil and gas limited partnerships, precious metals, digital assets, horses and livestock, and intellectual property. The increased investment options available in self-directed IRAs prompted the SEC to issue a public notice in 2011 due an increased risk of fraud in alternative assets. Internal Revenue Service (IRS) regulations require that a qualified trustee or custodian hold IRA assets on behalf of the IRA owner. The trustee/custodian provides custody of the assets, processes all transactions, maintains other records pertaining to them, files required IRS reports, issues client statements, helps clients understand the rules and regulations pertaining to certain prohibited transactions, and performs other administrative duties on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Individual Retirement Account
An individual retirement account (IRA) in the United States is a form of pension provided by many financial institutions that provides tax advantages for retirement savings. It is a trust that holds investment assets purchased with a taxpayer's earned income for the taxpayer's eventual benefit in old age. An individual retirement account is a type of individual retirement arrangement as described in IRS Publication 590, ''Individual Retirement Arrangements (IRAs)''. Other arrangements include individual retirement annuities and employer-established benefit trusts. Types There are several types of IRAs: * Traditional IRA – Contributions are mostly tax-deductible (often simplified as "money is deposited before tax" or "contributions are made with pre-tax assets"), no transactions within the IRA are taxed, and withdrawals in retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions that were not deducted). Depending upon the nature ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canadian Maple Leaf Coins
The Canadian Maple Leaf coins are bullion coins of gold, silver, platinum, or palladium, issued by the Royal Canadian Mint: * Canadian Gold Maple Leaf The Canadian Gold Maple Leaf (GML; ) is a gold coin, gold bullion coin that is issued annually by the Government of Canada. It is produced by the Royal Canadian Mint. The Gold Maple Leaf is legal tender with a face value of 50 Canadian dollars. ... * Canadian Silver Maple Leaf * Canadian Platinum Maple Leaf * Canadian Palladium Maple Leaf References {{Money-unit-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metals
A metal () is a material that, when polished or fractured, shows a lustrous appearance, and conducts electricity and heat relatively well. These properties are all associated with having electrons available at the Fermi level, as against nonmetallic materials which do not. Metals are typically ductile (can be drawn into a wire) and malleable (can be shaped via hammering or pressing). A metal may be a chemical element such as iron; an alloy such as stainless steel; or a molecular compound such as polymeric sulfur nitride. The general science of metals is called metallurgy, a subtopic of materials science; aspects of the electronic and thermal properties are also within the scope of condensed matter physics and solid-state chemistry, it is a multidisciplinary topic. In colloquial use materials such as steel alloys are referred to as metals, while others such as polymers, wood or ceramics are nonmetallic materials. A metal conducts electricity at a temperature of absolute z ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Antiques
An antique () is an item perceived as having value because of its aesthetic or historical significance, and often defined as at least 100 years old (or some other limit), although the term is often used loosely to describe any object that is old. An antique is usually an item that is collected or desirable because of its age, beauty, rarity, condition, utility, personal emotional connection and/or other unique features. It is an object that represents a previous era or time period in human history. Vintage and collectible are used to describe items that are old, but do not meet the 100-year criterion. Antiques are usually objects of the decorative arts that show some degree of craftsmanship, collectability, or an attention to design, such as a desk or an vintage car, early automobile. They are bought at antique shops, estate sales, auction houses, online auctions and other venues, or estate inherited. Antiques dealers often belong to national trade associations, many of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carpet
A carpet is a textile floor covering typically consisting of an upper layer of Pile (textile), pile attached to a backing. The pile was traditionally made from wool, but since the 20th century synthetic fiber, synthetic fibres such as polypropylene, nylon, and polyester have often been used, as these fibres are less expensive than wool. The pile usually consists of twisted Tufting, tufts that are typically heat-treated to maintain their structure. The term ''carpet'' is often used in a similar context to the term rug, but rugs are mostly considered to be smaller than a room and not attached to the floor. Carpets are used for a variety of purposes. These include insulating a person's feet from a cold tile or concrete floor, making a room more comfortable as a place to sit on the floor (e.g., when playing with children or as a prayer rug), reducing sound from walking (particularly in apartment buildings), and adding decoration or colour to a room. Carpets can be made in any colo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Work Of Art
A work of art, artwork, art piece, piece of art or art object is an artistic creation of aesthetic value. Except for "work of art", which may be used of any work regarded as art in its widest sense, including works from literature and music, these terms apply principally to tangible, physical forms of visual art: *An example of fine art, such as a painting or sculpture. *Objects in the decorative arts or applied arts that have been designed for aesthetic appeal, as well as any functional purpose, such as a piece of jewellery, many ceramics and much folk art. *An object created for principally or entirely functional, religious or other non-aesthetic reasons which has come to be appreciated as art (often later, or by cultural outsiders). *A non-ephemeral photograph or film. *A work of installation art or conceptual art. Used more broadly, the term is less commonly applied to: *A fine work of architecture or landscape design *A production of live performance, such ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life Insurance
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of thos ... between an insurance policy holder and an insurance , insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policyholder typically pays a premium, either regularly or as one lump sum. The benefits may include other expenses, such as funeral expenses. Life policies are legal contracts and the terms of each contract describe the limitations of the insured events. Often, specific exclusions written into the contract limit the liability of the insurer; c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair Market Value
The fair market value of property is the price at which it would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code, as well as in bankruptcy laws, in many state laws, and by several regulatory bodies. In litigation in many jurisdictions in the United States the fair market value is determined at a hearing. In certain jurisdictions, the courts are required to hold fair market hearings, even if the borrowers or the loans guarantors waived their rights to such a hearing in the loan documents. FMV is often used for taxation purposes, determining the value of charitable donations, estate planning, and other financial transactions. The specific methods used to determine FMV may vary depending on the type of property or asset involved. Fair market value is subjective and can fluctuate based on market conditions, supply and demand, location, and other factors. Definition United States The fair market value is the pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiduciary
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (legal person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
S-corporation
An S corporation (or S Corp), for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. In general, S corporations do not pay any income taxes. Instead, the corporation's income and losses are divided among and passed through to its shareholders. The shareholders must then report the income or loss on their own individual income tax returns. Overview S corporations are ordinary business corporations that elect to pass corporate income, losses, deductions, and credits through to their shareholders for federal tax purposes. The term "S corporation" means a "small business corporation" which has made an election under § 1362(a) to be taxed as an S corporation. The S corporation rules are contained in Subchapter S of Chapter 1 of the Internal Revenue Code (sections 1361 through 1379). The United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Limited Partnership
A limited partnership (LP) is a type of partnership with general partners, who have a right to manage the business, and limited partners, who have no right to manage the business but have only limited liability for its debts. Limited partnerships are distinct from limited liability partnerships in which all partners have limited liability. The general partners (GPs) are, in all major respects, in the same legal position as partners in a conventional firm: they have management control, share the right to use partnership property, share the profits of the firm in predefined proportions, and have joint and several liability for the debts of the partnership. As in a general partnership, the GPs have actual authority, as agency law, agents of the firm, to bind the partnership in contracts with third parties that are in the ordinary course of the partnership's business. As with a general partnership, "an act of a general partner which is not apparently for carrying on in the ordinary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Homeowner Association
A homeowner association (or homeowners' association [HOA], sometimes referred to as a property owners' association [POA], common interest development [CID], or homeowner community) is a private, Incorporation (business), legally-incorporated organization that governs a housing community, collects dues, and sets rules for its residents. HOAs are found principally in the United States, Canada, the Philippines, as well as some other countries. They are formed either ''ipso jure'' (such as in a building with multiple Owner-occupancy, owner-occupancies), or by a real estate developer for the purpose of marketing, Management, managing, and selling homes and lots in a residential subdivision. The developer may transfer control of an HOA after selling a predetermined number of lots. These legal structures, while most common in residential developments, can also be found in commercial, industrial and mixed-use developments, in which context they are referred to as POAs or CIDs instead of HO ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
