February 27, 2019

How to Make Money and Never Pay Taxes, with Nate Hare

Episode 42:

Nate Hare attended Auburn University on a baseball scholarship in 1996 and played in the College World Series in 1997. He graduated from the University of Portland with a Dual Degree in Business Management and Marketing in 2001, and was the recipient of numerous athletic awards from 1995-2000.

After college, Nate moved to Nevada where he attended Key Realty School and later held his real estate license with Keller Williams. His love for Real Estate and numbers then led him to a long lasting career as a Senior Loan Consultant in Nevada. He worked with the largest Private Lenders in the state for 6+ years, and was a top producing Consultant with Silver State Mortgage, Meridias Capital, and The Royal Bank of Canada (RBC). In 2003, Nate was submitted as a nominee for the Mortgage Loan Consultant Rookie of the Year award for all Loan Consultants across the nation.

In 2012, Nate’s experience in lending and real estate attracted the attention of Quest Trust Company, Inc. Nate began his journey with Quest Trust Company to become an IRA Specialist under the guidance of President H. Quincy Long, and CEO Nathan Long. Since that time, Nate has been a key component of Quest Trust Company’s 300% growth and has excelled into the role of Executive Vice President. He currently oversees and manages the IRA Specialist Team, Sales and Marketing Department, Transactions Department, as well as plan Quest’s large Networking Events that are hosted throughout the nation. Additionally, Nate Hare is a Certified IRA Services Professional as well as an Executive Officer for Quest Trust Companys Board Committee, the 7-member leadership team responsible for setting the corporate strategy, goals, and annual targets for the company.

What you’ll learn about in this episode:

  • Why you should have an Individual Retirement Account (IRA), and what tax benefits you can receive from a self-directed IRA
  • Nate defines a “self-directed” IRA, and how companies like Quest Trust differ from major brokers like Fidelity or Charles Schwab
  • How a self-directed IRA allows you to choose and control which investments you hold within your IRA
  • Why your IRA should pay any fees associated with your investments, and what rules govern a self-directed IRA
  • How IRA distributions work, what taxes and penalties you might pay to take out funds early, and when you can take out funds without paying
  • What age limits govern the use of IRAs, and why a Roth IRA is particularly appealing for investors
  • What a CESA (Coverdell education savings account) is, what benefits it offers, and who qualifies to set one up
  • What a UBIT (unrelated business income tax) is, what circumstances will trigger a UBIT, why it is important to be aware of, and how to avoid it
  • Why wrap-around mortgage notes do not trigger a UBIT, and why self-employed people with solo 401ks have a built-in exemption to UBIT
  • Why it is important to start taking action now and limit or eliminate your taxes through the use of IRAs accounts

Additional resources:

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