Restaurants’ reliance on food delivery apps soared during the pandemic because they provide a convenient way for customers to order from local restaurants and an easy solution for.
Kiyoshi Ota/Bloomberg News
REGISTER NOW
Given their popularity and widespread use, people rarely think of IRAs as “tax shelters.” But truth be told, that’s exactly what an individual retirement account is: a legal tax shelter.
However, in order to reap the benefits that traditional IRAs and Roth IRAs provide, taxpayers must comply with an assortment of rules. Such rules include limitations on the amount of money that can be contributed to IRAs each year, requirements related to the distribution of assets from those accounts, and restrictions on the types of transactions in which the IRA can engage.
IRAs are also prohibited from making investments into a handful of asset types. Specifically, neither life insurance nor collectibles (stamp collection, classic car collection, Pokémon card collection or similar) can be owned by an IRA. In addition, the S corporation rules prevent IRAs from owning S corporation stock. Other than these three limitations, though, an IRA owner can