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Results (5,850+)
Jennifer Pifer Question about Self-directed IRA
20 January 2018 | 8 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;Both 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 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.)
Roy Gottesdiener How would you get to a yearly cash flow of 150k?
9 June 2019 | 20 replies
When you compare parking options, isn't the comparison of a carport (multi), vs a garage, less attractive to the potential tenant...and more expensive to fix...since you need to repair/replace all the carports that are attached at the same time (roof for example) at a higher cost per sq ft (metal vs asphalt/fiberglass)?
Robert S. Storage units
12 May 2015 | 3 replies
Of Course I'm Biased, but I've owned hundreds of Houses, Hundreds of Apartments, Office buildings, parking lots, and large warehouses - and once I bought my 1st Self Storage facility, I sold everything else to build a massive empire of metal boxes on concrete slabs with no tenants, toilets, and trash - and it's the best move I have ever made (next to marrying my wife) In addition, here's a resource for more info:   www.SelfStorageinvesting.com - You'll find free videos and other resources to help you on your journey. 
Account Closed I'm really confused with the whole self directed IRA/Solo K
10 August 2017 | 9 replies
Account ClosedTo learn more about the ROTH IRA transfer  to a 401k restriction see the following:https://www.irs.gov/publications/p590a/ch02.html#en_US_2014_publink1000231050Following 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)he 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 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.)
Pono Wright Anyone familiar with mineral rights???
1 November 2014 | 14 replies
As has been posted ... if mineral rights are not reserved at some point in the transfer of title then they run with the land and the transfer.Now when I did my deal out at Homestake they were running around putting big metal poles in the ground and claiming unpatented mineral rights.. at that point it got pretty complex and I sold the property and never really followed up..
Account Closed Passive Income Sources
8 January 2016 | 9 replies
Precious metals and coins were a much safer bet years ago, not sure I'd invest in them right now.  
Katie Miller How would you invest $1 million?
15 August 2020 | 192 replies
Given the current uncertainties, I would probably buy precious metals, evenly split between gold and silver and wait for the next correction.
Gp G. HVAC System replacement
30 December 2023 | 5 replies
You might be able to get by with replacing the evaporator coil and a blower if the system isn’t that old.
Gp G. best doors to put in crawl space entrance
3 May 2023 | 4 replies
Are metal doors are better or wooden doors?
Henry Clark Self-Storage - Climate or Humidity Controlled, plus some Remote Management items.
2 February 2023 | 1 reply
I decided to add a few more items to check on.Climate controlled- humidity controlled.Temperature controlled- heating and air.Prior to building check on floor insulation, Ceiling metal to metal insulations contact points- to reduce heat transfer from the roof to the building frame inside, and also try to do Spray foam insulation to get a great seal.If your building is up already.