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4 July 2024 | 11 replies
While I no longer have health benefits or vacation time I still get to contribute to my 401K and receive my employer match on that.
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4 July 2024 | 6 replies
Hi,I am going to open a solo (self directed) 401K account from 1099 income I will earn.I weighed pros and cons of solo 401K vs SD IRA, and solo 401K is better option for me.I plan to roll over my previous employer's 401K into the solo 401K account.I want to invest in real estate syndication (passive investment) from the solo 401K account.Does anyone have any good recommendation on the company who manages the solo 401K account?
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3 July 2024 | 1 reply
My problem is that I believe people when they tell me things.My solution is to use an employment agency.
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4 July 2024 | 11 replies
Are you maxing out retirement contributions (or employer 401k matches)?
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3 July 2024 | 0 replies
You can maintain a hands-on approach or enlist professional management services to streamline operations and maximize efficiency.Strategies for SuccessLocation Matters: Focus on neighborhoods with low vacancy rates, good schools, access to amenities, and proximity to employment centers.
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2 July 2024 | 1 reply
There are a few Categories that I have broken into their own calculations considering there may be cost savings depending on strategy employed.
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1 July 2024 | 2 replies
Agreed with Account Closed - putting real estate, or a real estate partnership - within an S-Corporation provides effectively no value, while creating significant headaches and tax consequences.The only real benefit left for an S-Corp is partial shielding of employment taxes - but a rental property already doesn't produce any self-employment taxes, so the one benefit already doesn't apply to the rental.Then you have problems with not getting basis in the debt of the property, having a lack of flexibility on future structure, issues with distributions in excess of basis...just nothing about it is good.If the Partnership hires a property manager, and that property manager ends up being your S-Corp - great, now you are perhaps better managing your exposure to self-employment income as a result of these property management fees.
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2 July 2024 | 2 replies
There are a few Categories that I have broken into their own calculations considering there may be cost savings depending on strategy employed.
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1 July 2024 | 5 replies
BP has starkly contrasting advice when it comes to entity structuring - and for good reason because there are so many variables to consider.
2 July 2024 | 8 replies
She should.Then you could 1099 her and not worry about payroll taxes - for agent-type services.For the maintenance work she does, also 1099 her by having her bid each job separately.Of course, speak to your tax professional about all this first, to make sure this would all meet IRS self-employment requirements.