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3 May 2019 | 24 replies
Following are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth 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 2018, the solo 401k contribution limit is $55,000, 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.)
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4 April 2019 | 7 replies
., real estate, precious metals, Notes, tax liens, etc.)To reduce solo 401k plan document administration feesTo gain access to Solo 401k Loan (borrow from Solo 401k)To gain access to making all three contribution types: pretax, Roth and voluntary after-tax.
29 January 2022 | 71 replies
In 1980, at least high market based interest rates compensated somewhat for inflation.Nearly every commodity, with the exceptions of precious metals, have flown higher.
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13 October 2023 | 10 replies
@angelo lencioniSquatters will be an ongoing problem in urban areas due to tenants thinking they are entitled to free housing and squatting when they are evicted.You have to be really on top of this for vacant properties.We give owners options to secure their vacant rentals in urban areas like Detroit:1) Boardup - not very effective2) Remove mechanicals so they can't be stolen and squatters have no heat or water3) DAWGS - metal screens that are very difficult to get throughNone of these are perfect and all have been defeated.
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6 November 2022 | 30 replies
(Title IX As Amended) [42 U.S.C. 3631] Violations; bodily injury; death; penaltiesWhoever, whether or not acting under color of law, by force or threat of force willfully injures, intimidates or interferes with, or attempts to injure, intimidate or interfere with--(a) any person because of his race, color, religion, sex, handicap (as such term is defined in section 802 of this Act), familial status (as such term is defined in section 802 of this Act), or national origin and because he is or has been selling, purchasing, renting, financing occupying, or contracting or negotiating for the sale, purchase, rental, financing or occupation of any dwelling, or applying for or participating in any service, organization, or facility relating to the business of selling or renting dwellings; or(b) any person because he is or has been, or in order to intimidate such person or any other person or any class of persons from--(1) participating, without discrimination on account of race, color, religion, sex, handicap (as such term is defined in section 802 of this Act), familial status (as such term is defined in section 802 of this Act), or national origin, in any of the activities, services, organizations or facilities described in subsection(a) of this section; or(2) affording another person or class of persons opportunity or protection so to participate; or(c) any citizen because he is or has been, or in order to discourage such citizen or any other citizen from lawfully aiding or encouraging other persons to participate, without discrimination on account of race, color, religion, sex, handicap (as such term is defined in section 802 of this Act), familial status (as such term is defined in section 802 of this Act), or national origin, in any of the activities, services, organizations or facilities described in subsection (a) of this section, or participating lawfully in speech or peaceful assembly opposing any denial of the opportunity to so participate--shall be fined not more than $1,000, or imprisoned not more than one year, or both; and if bodily injury results shall be fined not more than $10,000, or imprisoned not more than ten years, or both; and if death results shall be subject to imprisonment for any term of years or for life.TITLE 28, UNITED STATES CODE, AS AMENDEDSection 2341.
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25 February 2023 | 11 replies
Theremaining portions of the wall have been constructed with wood and metal frameworkand the exteriors are generally finished with an exterior paint.
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30 April 2022 | 41 replies
It was actually under a metal catchpan that the washer and dryer sat in.
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15 September 2022 | 14 replies
How old was the fence and is it wood, metal, or what?
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2 October 2021 | 5 replies
We chose a metal roof, which costs less, and used the same general contractor to do 90% of the other REHAB, which cut labor costs.
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13 October 2021 | 26 replies
and a metal recycling collection.