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23 January 2025 | 16 replies
Since the contributions have to come from the business income (PM biz) it’s not likely you’ll come close to taking advantage of the high contribution limits of a Solo 401k.
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5 February 2025 | 35 replies
If we're going to just talk in hypotheticals, of course anything is probably possible anywhere but highly unlikely.
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23 January 2025 | 2 replies
Napoleon Hill's masterpiece takes a dive into the power of the mind and the principles that lead to success.
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26 January 2025 | 2 replies
Water, power (no gas) are billed directly from the utilities company.
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13 January 2025 | 8 replies
Paying a bit more might be justified if the pro forma income is very achievable, but $360,000 seems too high unless renovations are already complete.Factor in the costs and timeline for completing renovations for the studio and the fifth park-owned home.
11 January 2025 | 12 replies
Following Up + More details: @carolineOur utilities were also opened using an LLC but since the power had actually been shut off the problem mostly came from ICE sending someone out to turn it back on plus installing a new style meter (which had to be approved by our HOA but that was another matter entirely and not particularly difficult).Opening a bank account with BCR as an individual is easy and you can get an atm card in about 3 days but you will be limited to holding only a thousand dollars in it.
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29 January 2025 | 10 replies
Adding mass to the walls works wonders—attach Mass Loaded Vinyl (MLV) to the shared wall, then cover it with a layer of 5/8” drywall using Green Glue soundproofing compound for extra noise-blocking power.
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11 January 2025 | 13 replies
Glad you're building your business while still active duty, that's a powerful move!
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14 January 2025 | 18 replies
You would only pay taxes on all passive investments in a traditional SDIRA at distribution, unless you have a mortgage, then the portion of the income derived because of the mortgage will be subject to UDFI (unrelated debt finance income) which will trigger UBIT (unrelated business income tax).
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17 January 2025 | 24 replies
IRS 590 also explains this.5) When you receive a distribution or otherwise get paid back, never take personal control of the money.