Just saw the news , over 1000 structures destroyed and possibly 28,000 in danger . 

Yes, as S-Corp owners receiving W-2 wages, employee deferrals to a Solo 401(k) are subject to FICA taxes (Social Security & Medicare).

Under Alabama law, that is a VERY dangerous play and you could end by losing money.You also cannot sit back and let him build the house and say "Thanks."

Good luck, Its a dangerous game.

It is right on the fringe of being legal/illegal, and lawmakers have been talking about how to regulate it for years because it can be a dangerous process that leaves end Buyers feeling like they weren't represented.....especially when they see the closing statement and find out how much the wholesaler made just by getting to the Seller first. 

Anyone over 18 fills out has to furnish their social security and driver's license numbers, and pays a fee for a credit / background check.

It seems there’s a common misconception largely influenced by social media, online courses, and influencers who oversimplify the process that real estate is an easy, passive way to generate income with minimal effort.

Quote from @Zara Massoud: Your new PM is correct and the old ones were wrong.The property manager must have your social security or tax ID number on file.

I see their ads pop on my social media and I think there are some scare tactics. 

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