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Results (3,040+)
Greg D. Paid in gold
12 December 2013 | 9 replies
Unless you know for fact that it is solid precious metals.
Pat McCandless Self-directed IRA
20 March 2017 | 11 replies
@Pat McCandlessTo learn more about UDFI see following IRS link. https://www.irs.gov/irm/part7/irm_07-027-008.htmlAlso, you may want to consider transferring the IRA to a solo 401k if you plan to use non-recourse financing for investing in real estate as a solo 401k is not subject to this type of tax.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.)
Leila Nosrati Solo IRA Recommendations
16 August 2018 | 12 replies
@Leila NosratiFollowing 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;Both are prohibited from investing in assets listed under I.R.C. 408(m)
Precious Thompson Mistakes
2 December 2015 | 22 replies
Toss me a line @Precious ThompsonIf you only remember one thing, please remember what Jean just told you!
Ed Brownstein Cookie-Cutter Solo 401k plan from discount broker?
6 December 2015 | 7 replies
In other words, even though Schwab also offers Solo 401k, their Solo 401k plan document restrict you to only investing in stocks and mutual funds; however, by using our Solo 401k document, which allows you to serve as trustee of the Solo 401k and invest in alternative investments such as real estate, precious metals, tax liens, promissory notes, private stock, etc., as well as process Solo 401k Loan, Schwab is not involved in the administration of the Solo 401k.In other words, Schwab's role is to provide the brokerage side to the account.
Rico Stewart Sustainability & Green Homes
11 February 2021 | 12 replies
@Rico StewartSadly, you will find precious few energy efficient or "sustainable" buildings in North America.  
Scott Hubbard Legitimate Self Directed Strategy or not?
18 December 2010 | 25 replies
Generally one is limited to: Real Estate, Businesses, Trust Deeds and Mortgage Notes, Forex, Tax Liens, Private Stock Offerings, Private Partnerships, Private Placements, Limited Liability Companies (LLC's), Notes, Franchises, Hedge Funds, Stocks, Bonds, Mutual Funds, Foreclosures and Pre-Foreclosures, International Real Estate, Leases, Lease Options, Loans, Joint Ventures, Coins, Precious Metals.
William Carroll Opinions on Holton-Wise Property Group
6 April 2021 | 122 replies
Me thinks your brokerage commissions and deal churns are more valuable than long term relationships so long as the word of mouth doesn't rear it's ugly head back to your precious deal factory, BiggerPockets.
Tyson Scheutze Early Days of Auben Realty
7 February 2024 | 2 replies
Improving Augusta one home at a time…In the fall of 2009, Auben Realty was officially in business.
Lisa Miller investors in the Augusta Ga area(Ft.
14 October 2018 | 2 replies
Anyone looking for investment properties in the Augusta, Ga.