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16 June 2016 | 18 replies
@Martin SennThe following may assist you decide whether to go the IRA or IRA LLC or Solo 401k route: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;Both are prohibited from investing in assets listed under I.R.C. 408(m); andThe 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 used;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.)
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23 January 2017 | 10 replies
@Robin CornacchioMaybe tax liens. metals or notes.
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28 January 2022 | 11 replies
I've been looking into metallic epoxy floors to cover the cement with an epoxy coating that almost looks like marble.
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28 January 2022 | 16 replies
If electric than one of the two coils could be defective.So there are a few items to check out first .If it is bad just call the company and talk to the owner or manager on duty.
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2 August 2022 | 17 replies
Buy metal frames that are well made.
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26 January 2019 | 65 replies
Mark that is a sound idea, do you happen to know if these method is more cost effective than metal or shingle roofing ?
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27 July 2015 | 13 replies
Last serviced in May 2015, refrigerant fully charged then.I looked up the inspection report I did eight months ago when I bought the unit, and inspector noted the temperature difference is 16 degrees and unit is operating as expected.I called up the AC company who service all my units and they said about 18-22 degree difference is what should be expected on a brand new system, and the efficiency drops as the system gets older and the coils get dirty, or there is a leak in the refrigerant line.
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27 August 2015 | 8 replies
Really, the only parts of the house that looked decent are the metal roof and the siding.
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26 April 2020 | 12 replies
So what we do is remove the ac unit, furnace, a-coil and water tank.
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14 October 2016 | 5 replies
Unless the windows are the old metal windows, that is the main reason I could see a large expense on windows.For termites, is that just to treat for termites?