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Results (5,387+)
Edmund Ricker Anyone Using Self Directed IRA
2 June 2016 | 9 replies
Following is why: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;Both are prohibited from investing in assets listed under I.R.C. 408(m); andThe 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 2015; 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.)
Jeff S. We Loaned on a Stolen House
11 April 2021 | 65 replies
We mail notarized documents to escrow companies we’ve never met all the time.
Sam Leon Let's talk ceiling fans
16 April 2021 | 10 replies
I typically buy older homes with conduit wiring and most of the time at the wall is a one gang metal handy box so that's what I have to work with. 
Manco Snead Water Damage cause by faulty plumbing work
18 November 2022 | 16 replies
They should have their agent send you a certificate showing that they have General Liability (for Bodily Injury & Property damage) and  Workers Compensation. 
Jeff J. Cleaning cooking grease off of the wall behind the stove?
26 November 2022 | 20 replies
or just kills and paint. or put a metal plate like the restaurants have..
Account Closed Thinking about going back to school...
12 June 2019 | 10 replies
At this point I consider myself a ‘jack of all trades’ I can frame out a wall, hang and finish drywall, rip up a floor, repair the subfloor, put down new flooring, basic electrical work like swapping out light fixtures and wiring a run of outlets, strip a roof and lay down new shingles or a metal roof, install a window or new door, hang kitchen cabinets, tile and grout a backsplash, very basic plumbing work like swapping out a tub or sink, I can build outdoor structures like decks, ramps, etc.
Carloz Gil Air Conditioner Guy(s)
13 June 2019 | 7 replies
@Carloz Gil Charm does whole asphalt and metal roofs.
Jonathan Johnson VA Loan - Buy and Hold 3bd/1.5ba SFH
12 June 2019 | 0 replies
The frame was also covered with a metal sheething that I had to remove in order to drill 4" masonry screws in.
Samuel Hancock First Deal that got me into REI
18 June 2019 | 1 reply
Was a 40x80 metal structure with concrete foundation and driveway.
Braden Downs How should I finish edging my backsplash?
26 June 2019 | 3 replies
B) Remove the edge tile pieces and re install new tile pieces with metal trim?