
28 January 2017 | 20 replies
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 2017, the solo 401k contribution limit is $54,000, 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.)

11 August 2014 | 27 replies
I was recently separated because of some torn muscles in my shoulder so time to start the civilian life.

31 December 2015 | 7 replies
I plan on setting up an LLC to own the house long term, with my wife and brother-in-law as owners of the LLC.

29 April 2023 | 86 replies
I got an email saying that they are working on setting up the G2 lead generating system and will let me know when it's completed.Forward 60 days, I have check the search results of and on every couple weeks or so, and the result is still the same, my website is no where to be found in the first few pages.

7 February 2015 | 14 replies
Quit wasting time on setting up a website and go out and make some money.Seriously, the website is not the place to start.

23 September 2014 | 7 replies
The first lien holder gets paid first so they usually try to muscle out the second lien position.

17 March 2015 | 3 replies
The seller went down there himself and muscled them into a different position and did a shotty job fixing the gaps with a universal repair adhesive - duct tape.

3 January 2017 | 3 replies
We have also been able to raise more private money then I ever thought possible at the onset of the year and have increased our partnerships with our hard money lenders by over 26 fold.

14 May 2014 | 7 replies
Sometimes you can get a variance on set backs.
23 August 2018 | 41 replies
I live in CA, but am planning on setting up an LLC in OH with a partner in OH.