Resources
What if we told you there’s a savings account that could help you cover healthcare costs in retirement—and grow your wealth, tax-free, along the way? If you’re in your 30s, 40s, or early 50s, chances are you’re juggling competing financial priorities—saving for retirement, managing everyday expenses, and preparing for the unexpected. But there’s one overlooked … Read More
On November 1, 2024, the IRS released Notice 2024-08 which outlines contribution limits and retirement account changes for 2025. These updates include cost of living adjustments to compensate for inflation. Here’s what you need to know: 401(k) Accounts For 401(k), as well as 403(b), and government 457 or TSP account (qualified plans) participants, the IRS … Read More
At New Direction Trust Company, the security of our clients’ accounts is our top priority. We are constantly taking measures to combat fraud, identity theft, and cybercrime to keep accounts secure, part of this effort includes limiting account access to only authorized individuals. Who could I grant access to my account? Up until recently, we … Read More
Year-end is a busy time, yet in our holiday preparations, we should not overlook tax year requirements. For self-directed investors, this could mean fair market valuations (FMVs) of their self-directed retirement accounts, which are due January 15th. Ready to submit your FMV? Log in to your Client Portal and follow the instructions below. What Are Fair … Read More
In 2022, the Financial Crimes Enforcement Network (FinCEN) issued a rule allowed under the Corporate Transparency Act (2021) that requires beneficial ownership information reporting for certain companies and entities. Beginning in 2024, companies and organizations that are not exempt must report their beneficial owners to FinCEN. Why was this rule issued? These new rules are … Read More
Beginning in 1998, the tax code allowed for a new type of retirement account called a Roth IRA. Senator Henry Roth proposed a new type of retirement account that would allow a taxpayer to pay income tax before making a retirement plan contribution, and in return the account could not only grow tax free (both … Read More
New Direction Trust Company (“New Direction”) performs the duties of a directed custodian. It does not provide any investment advice, legal advice, or tax advice. New Direction does not undertake any due diligence for you, including with respect to any investment or investment provider featured in this blog post or joint webinar or any other investments that you choose to hold in your New Direction account(s). Any information regarding any investment provider or investments that is contained in this blog post or Webinar was provided by the third-party investment provider. New Direction is not affiliated with, does not control or direct, and has no responsibility over any third-party investment provider or investment, and the inclusion of any investment provider or investment options in this blog post or Webinar does not represent an endorsement or recommendation of the investment provider or investment by New Direction in any way. New Direction does not endorse or recommend any investment provider or investment, including those found in this blog post or Webinar. Information and third-party links contained in this blog post or webinar are provided for informational purposes only, and it is solely the responsibility of investors to perform their own, independent due diligence on any investment opportunity. Investors should consult their own investment, legal, and tax advisors before making any investment choices.
