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Results (2,437+)
Thomas O'Donnell Should I set up a Checking/Savings Account for my rental?
27 October 2022 | 11 replies
I only have one duplex at the moment and was not planning on setting up an LLC yet.
Luke McCann St. Augustine REIA
14 September 2019 | 34 replies
Hi Scott, I am working on setting up a meeting.
Ella Blue New Member from New Jersey
5 October 2016 | 23 replies
We are working on setting up our business plan now and wanted to ask if anyone can recommend an attorney for our team that can assist us with setting up an LLC and legal help along the way?  
James L. Referrals for a SDIRA company in Chicago?
22 December 2016 | 6 replies
Also take a look at the solo 401k.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.)
Hyung Lee Partnering on a flip
23 August 2020 | 17 replies
I have gotten some odd advice on setting up this structure up so was hoping to hear what others have experienced.
Eric Pimpler Self Directed IRA Question Regarding Property Manager
30 January 2019 | 2 replies
My intention (and, hopefully, contribution) is to offer some thoughts on setting boundaries around the circumstances that public discussions should be elevated to professional guidance.
Karen M. Tell me what you hate about land lording
27 August 2014 | 34 replies
I tell our tenants at the onset that I value open and honest communication and if they choose to lie to me at anytime about anything, it would seriously harm our relationship.
Jeff Sims What kind of car do you drive?
22 July 2021 | 499 replies
But decided on American muscle after, so got a 1965 Corvette Sting Ray for 7 years. 
Cindy Holguin Best entity for HOA association performing property management
19 September 2011 | 3 replies
The charge for HOA dues should be made to the owner and the money should be moved from the owner's account to the HOA's account.You might also want to look into how condohotels handle their interactions with owners.You almost certainly want some legal guidance on setting this up.
Jason Swierczynski Need Help Setting Up 2 LLCs
10 February 2020 | 3 replies
I am looking for anyone that can offer suggestions on setting these two up.