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19 September 2018 | 13 replies
There are other strategies and techniques I use but many are not available to unlicensed personnel so the above are the best strategies for her to utilize.
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15 September 2016 | 9 replies
With proper planning it should be possible to dissolve the coop and distribute the assets (units) to the share holders.
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14 September 2016 | 5 replies
Just a list will be worth less than something you add value to.Check to make sure you have the legal rights to distribute the data in the product you bought.
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16 September 2016 | 14 replies
That is not possible within IRS rules, other than by taking a (potentially taxable) distribution from the IRA.The questions I would suggest you ask are related to keeping the Roth IRA as a tax-sheltered vehicle.
23 September 2016 | 40 replies
ANY title company can provide (frequently for free) a monthly list of NODs and NTS.I ask for an electronic email distribution and that could be fed into Excel
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21 September 2016 | 5 replies
@Victoria CreightonPro-rata rules apply to non-deductible IRAs-an IRA where you make annual non-deductible contributions.So as long as you don't have any non-deductible IRA contributions, Roth IRA conversions are neither subject to the pro-rata rule or the 10% early distribution penalty at time of conversion.
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16 September 2016 | 10 replies
Pm me your email if you'd like added to our distribution list so you can start receiving our wholesale deals.
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24 June 2018 | 15 replies
But not everyone wants to be a landlord/lady, and some really do get the technique and systems down for successful flips and become wealthy doing it.
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16 September 2016 | 3 replies
I'd like to take my home equity and move to either Kentucky or Tennesee ,and start my realestate empire, by using the house hack technique.
23 September 2016 | 7 replies
Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k Similarities Both 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 (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 2016; the solo 401k contribution limit is $53,000, 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.)