Profits From Tax Liens
As a potential tax lien investor I read somewhere you can avoid Federal/State Income taxes on your gains. Does anybody know the tax implications or point me in the right direction?
Thanks,
Kevin
New Jersey
**Please See My Profile**
Kevin --(NJ)------------------
The only way to do this is to have your tax-deferred account buy for you: IRA, Keogh, SEP, etc. If you buy for yourself you pay taxes on any gain, at ordinary income tax rate.
There are perhaps a dozen and a half companies around the country that will act as a custodian for your self-direct IRA account and allow you to invest in whatever you want. Most banks and securities dealers want you to buy investments through them. Not good for this purpose.
Good Investing************Ron Starr*************