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Results (5,819+)
Angela Jossy I am looking at a houseboat as my first investment
28 March 2019 | 42 replies
For an inboard or inboard/outboard, I would also look at the cost for replacing the rubber seals, I would look at maintenance for hydraulic steering (if applicable), I would count on replacing electronics every couple years (sonar, radar, marine radio), gauges, etc.  
Zac Boyer USING SEP IRA for a rental purchase
15 July 2017 | 5 replies
@Zac BoyerFollowing 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 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.)
Sarah Johnson Buyer's agent listed property for rent before closing
10 August 2017 | 17 replies
If the lockbox on the door is an electronic one, have your agent pull the recorded accesses thru the computer program for the lockbox.  
Arthur McCormack Newbie landlord mistakes... is it too late to backtrack?
2 January 2021 | 16 replies
I set up the lease electronically and rent on autopay.Error#1: on the first draft for rent and deposit it didn’t go through, came back as NSF three times.
Frank Nguyen Collecting CASH rent
6 August 2021 | 10 replies
I can't imagine that paying electronically can be as effective and simple. 
Jay Dean Collecting rent - Quickbooks autobill or something else?
28 June 2017 | 4 replies
Should I get setup with the bill / electronic payment system in QuickBooks to somewhat automate rent collection or do you like another service better?
Jessica V. Methods of collecting rent
6 July 2017 | 13 replies
They can walk over with cash, mail a check, or do electronic transfer, and I just get deposit alerts from my banks I-phone app.What's great with working with the local bank is when it's time to purchase another rental place, minimal paperwork required since they already have the rental income history :)Congrats on the first investment property purchase!
John Woodriff How to define "Occupant"
13 December 2013 | 9 replies
When a guest of Tenant is given a set of keys to the property or when a guest starts taking paper or electronic materials into the bathroom to read while he/she is on the crapper, whichever occurs sooner, he/she becomes an occupant.
Chris O'brien How do taxes work as a landlord
28 July 2013 | 19 replies
The electronic tax programs ask you all the questions, so that and some understanding could get you by while you are small.
Brian M. MLS Offers - Process, System and Strategy
7 November 2021 | 19 replies
Electronic Signatures2.