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All Forum Posts by: Dmitriy Fomichenko

Dmitriy Fomichenko has started 64 posts and replied 17411 times.

Post: New Member from Austin, TX

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@Jamie B. welcome to the BP community!

Post: Movin' To Tacoma, WA

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@Sam Albert welcome to the BP community!

Post: New Member - Pittsburgh, PA

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@John Cardillo welcome to the BP community!

Post: SDIRAs, UDFI and UBIT

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

Yes Daniel, that is correct, you would still need to get non-recourse loan for SD 401(k).

Post: SDIRAs, UDFI and UBIT

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@Daniel Cruz

to create a self-employment activity you don't even need a business permit or filing for a DBA. Any network marketing would work... wholesaling, referral business, etc. You don't even have to generate income, just have the intend of generating income in the future.

Post: SDIRAs, UDFI and UBIT

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@Daniel Cruz , good question! @David Beard was right on saying that you can avoid UDFI tax by using self-directed Solo 401k, you should look into that.

The other reason for using Solo 401k is that you avoid custodian fees and delays by being trustee of your own plan. I also love the participant loan feature which gives me access to my retirement funds at any time - tax free and penalty free.

Post: New to BP from Chicago South Suburbs

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@Dominick Adolfo welcome to the BP community!

Post: New Member from Boston

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@Jeff Neblett welcome to the BP community!

Post: Hello World! I mean Fort Worth =]

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@Morgan N. welcome to the BP community!

Post: Hi....from Las Vegas, NV

Dmitriy Fomichenko
#1 New Member Introductions Contributor
Posted
  • Solo 401k Expert
  • Anaheim Hills, CA
  • Posts 17,853
  • Votes 6,247

@Brandon Belanger welcome to the BP community!