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17 August 2018 | 5 replies
A loan greater than the property value can be risky, if nothing goes wrong everything is fine.If the money is going through a title company (a good idea) the money will be distributed to the owner of the security property, likely the LLC in this case.The borrower/property owner should be LLC to avoid being a consumer loan.
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19 August 2018 | 8 replies
For example, if you end up having excess losses that carry forward from year to year, and then you sell one of the properties - then the allocation of overhead expenses will matter.That said, if you want to simplify your bookkeeping - stick with #1, even distribution.
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20 August 2018 | 7 replies
As I understand the requirements (in Georgia at least), deposits just have to be in an account (not necessarily segregated by tenant), and if I have more than 10, it has to be interest-bearing and I distribute the interest annually.
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28 August 2018 | 15 replies
Since you are over retirement age, you can choose to take distributions of the income your investments produce and will pay taxes only on what you take out.
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17 September 2018 | 30 replies
They often offer monthly interest distributions.
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26 August 2018 | 11 replies
@Percy YarlequeWork around—Take a distribution from your Ira, pay the tax and penalty, and do what you want with the cash.
27 August 2018 | 8 replies
You can do this yourself if you are savvy about setting up companies and stock distribution, or have a company set this up for you.
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26 August 2018 | 7 replies
You can contribute there regardless if you take distribution from your Roth IRA or not.The amount of conversion is taxed at the ordinary income tax rate.
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23 August 2018 | 2 replies
I think you should leave him off for now, and create a legal ownership and distribution contract so things are clear on the business and money side of things between you, and his not being on the LLC wont be a detrement to his part in the business.
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26 August 2018 | 13 replies
There are many BP members who must have awful 401k plans with no match for all the hatred we hear towards them.If you are not going to be working and your taxable income will be low for a period, you may want to consider a Roth conversion ladder to allow for tax free distributions of 401k account balance.