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Results (5,850+)
Account Closed I want to open a Self Directed IRA
13 February 2018 | 11 replies
Self-employment activity is a requirement to open a solo 401(k) plan.Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth were created by congress for individuals to save for retirement;Both may be invested in alternative investments such as real estate, precious metals tax liens, promissory notes, private company shares, and stocks and mutual funds, to name a few;Both allow for Roth contributions;Both are subject to prohibited transaction rules;Both are subject to federal taxes at time of distribution;Both allow for checkbook control for placing alternative investments;Both may be invested in annuities;Both are protected from creditors;Both allow for nondeductible contributions; andBoth are prohibited from investing in assets listed under I.R.C. 408(m).The Self-Directed IRA and Solo 401k DifferencesIn order to open a solo 401k, self-employment, whether on a part-time or full-time basis, is required;To open a self-directed IRA, self-employment income is not required;In order to gain IRA checkbook control over the self-directed IRA funds, a limited liability company (checkbook IRA/IRA LLC) must be utilized;The solo 401k allows for checkbook control from the onset;The solo 401k allows for personal loan known as a solo 401k loan;It is prohibited to borrow from your IRA;The Solo 401k may be invested in life insurance;The self-directed IRA may not be invested in life insurance;The solo 401k allow for high contribution amounts (for 2018, the solo 401k contribution limit is $55,000, whereas the self-directed IRA contribution limit is $5,500);The solo 401k business owner can serve as trustee of the solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of her IRA; instead, a trust company or bank institution is required;When distributions commence from the solo 401k a mandatory 20% of federal taxes must be withheld from each distribution and submitted electronically to the IRS by the 15th of the month following the date of each distribution;Rollovers and/or transfers from IRAs or qualified plans (e.g., former employer 401k) to a solo 401k are not reported on Form 5498, but rather on Form 5500-EZ, but only if the air market value of the solo 401k exceeds $250K as of the end of the plan year (generally 12/31);When funds are rolled over or transferred from an IRA or 401k to a self-directed IRA, the amount deposited into the self-directed IRA is reported on Form 5498 by the receiving self-directed IRA custodian by May of the year following the rollover/transfer.Rollovers (provided the 60 day rollover window is satisfied) from an IRA to a Solo 401k or self-directed IRA are reported on lines 15a and 15b of Form 1040;Pre-tax IRA contributions on reported on line 32 of Form 1040;Pre-tax solo 401k contributions are reported on line 28 of Form 1040;Roth solo 401k funds are subject to RMDs;A Roth 401k may be transferred to a Roth IRA (Note that from a planning perspective, it may be advantageous to transfer Roth Solo 401k funds to a Roth IRA before turning age 70 ½ in order to escape the Roth RMD requirement applicable to Roth 401k contributions including Roth Solo 401k contributions and earnings.)
Daniel Whitmore Trade school / Apprencticeship in Mid-30s?
4 January 2023 | 8 replies
I'm a tool and die maker mostly for metal stamping.
Tracy Graham the roof... the roof... the roof is on... the top :)
19 December 2022 | 4 replies
I have contractors telling me its ok to keep the existing roof and ok to put a metal roof on top (with the strips). 
Account Closed DP-3 Policy Denying Coverage D Fair Rental Value Hurricane Ian
19 December 2022 | 2 replies
Gutters and soffits, pool cage, polycarbonate window shutters ripped off by wind, metal roll down shutters and garage door damaged, and attached fencing all destroyed. 
Sylvia B. Vinyl plank and stairs
15 January 2015 | 14 replies
I have had the Allure put on stairs with a metal stair edge on each stair.
Mike Schorah How do tenants destroy heaters in properties up north?
17 December 2022 | 4 replies
The biggest culprit for air flow problems is dirty air filters and dirty indoor coils
Brian Barfoot Septic tank might be under an addition
18 December 2022 | 5 replies
Some plumbers have a sewer cam that has a radio in it, where they can walk above on the grass with a special receiver and it will beep like a metal detector.They simply spray paint the lawn where to pipe is.Accuracy seems good with this.They can also blow smoke down the pipes and see where it leaks out.If the tank is under the structure maybe you can just disconnect it and put new one in where you can get at it.Good Luck!
Nate S. Appliances for a rental
18 February 2019 | 5 replies
Anyways to the question, appreciate anyone could help.As for stoves should I get a coil or glass top but with steam clean?
Benjamin Furney What should I do with these wooden floors?
22 December 2022 | 8 replies
It shouldn't be that expensive, but you will need a bullnose metal edge which probably won't look attractive in a classic house like this.Here are before / after of hardwood on a flip I did 15 years ago
AP Horvath Austin area - metal building builders
25 December 2022 | 5 replies
I am considering buying a lot in the Hill Country (west of Austin like Spicewood or Dripping Springs) and putting a metal building atop of it as a commercial property.