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3 September 2016 | 33 replies
Following is how the ROBS 401k works: Because you directly rollover your IRA or former employer 401k, 403b, Keogh, SEP, SIMPLE, or other eligible account, to your new ROBS 401k plan, which then funds your business, you incur no taxes or early distribution penalties.Unlike traditional 401k plans that allow for a 401k participant loan, that is, borrow up to 50% of the account balance not to exceed $50,000, the ROBS 401k for business financing plan allows you to use all of your retirement funds to fund your start-up business.The ROBS 401k funded corporation allows you to draw a reasonable salary from the business.ERISA 408(e), and ERISA Reg. 2550.408 list information regarding the use of 401k funds to invest in employer stock of the employer’s corporation.The IRS formally commented on the use of 401k business funds on Oct 1, 2008 by issuing IRS memo commenting that the use of retirement funds is not disallowed but continue to be reviewed by the IRS.The use of retirement funds for business funding entails the 401k purchasing stock shares in a C-Corporation.
25 August 2016 | 0 replies
Shared well, separate 3br septics that have been inspected and are good (Have to add a holding tank per Health Dept. as new regs require 500 gal holding per bedroom and both are 1000gal tanks).This is a country setting on outskirts of town (7min drive) and 1/2hr to 45min to 4 major cities where most employment is.
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26 August 2016 | 3 replies
He's struggling with paying the rent ($750 a month) because of the type of employment he's limited to.I'm finding that it's often a challenge for those who have been in prison to find decent employment.Without decent employment they can't make decent wages.Without decent wages they often won't meet income requirements.This can be the reason to decline an applicant with a criminal background (as you might with any applicant who does not meet your income requirements).Gail
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27 August 2016 | 16 replies
I randomly have thoughts about stopping my 401k with my employer and saving that money to put towards buying another deal, then I realize that would be stupid (for me).Every employer is different, but if I put in 6%, they put in 7.5.
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1 September 2016 | 4 replies
I do not plan on employing any agents or maintaining an office, as most of my transactions will be for personal investment.
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26 August 2016 | 3 replies
Another crucial piece of this is knowing what's going on in your city/market as far as population growth, employment, industry etc.
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29 August 2016 | 8 replies
@Dane FitchSelf-directed Solo 401k plan are designed for those who are either self-employed or own a business without any full time employees.
26 August 2016 | 3 replies
Some areas you can concentrate your efforts in are 1) Ruskin - New amazon warehouse employing several hundreds of people here2) Lithia / Fishhawk area - Great schools but beware of high CDD + HOA + Property taxes that'll eat into your COC return3) Winter Garden - Booming market in orange county, has a new hospital and several new business coming up.
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1 September 2016 | 6 replies
I'm a commercial general contractor by profession and I'm looking to employ my skills and expertise in the fix/flip market.
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3 November 2022 | 9 replies
I would not have put Coretec and Allure in the same category.