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Results (5,621+)
Bill McGrath IRA Rollover to Self Directed (IRA or 401K)
20 October 2016 | 8 replies
@Bill McGrathFollowing are the similarities and differences between the solo 401k and the self-directed IRA.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; 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 (RIA 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.)
Steve Rozenberg Renters Insurance
7 February 2016 | 8 replies
If the tenant has contents that suffer loss because of a peril your policy pays for (think water backup that damages your floors and the tenants electronics or food spoilage due to power outage).
Carla Carvalho SDIRA and Crowdfunding
1 February 2016 | 5 replies
Can documents be submitted electronically or will originals be required?  
Brennan MarLett What are the tax benefits of owning rental property?
10 December 2016 | 4 replies
I recommend to scan invoices and receipts, and store them electronically
Grace Ng Real Estate Booth Ideas
13 October 2015 | 7 replies
I've done a bazillion booths at arts presenting conferences- but never one where they didn't want a laptop or electronics.
Anthony Sanzari Dealing with Section 8 Tenants
30 November 2023 | 8 replies
We get the lease out electronically, tenant signs, we meet in 24 hrs to collect deposit, set the move in date.
Amanda Thompson Changed my mind about applicants... legally ok?
18 October 2023 | 18 replies
For new lease signings (not renewals), if being signed electronically I will often do a video conference with them and review the lease in detail so that they understand it and can ask questions before signing it.
Shyam Sah Property Management Software / Company
10 October 2023 | 14 replies
Additionally, the platform provides online rent collection capabilities, making it convenient for tenants to pay electronically, reducing the hassle of handling paper checks.While you mentioned that features like tenant communication and repair requests are optional for you, it's worth noting that All Property Management also offers these functionalities.
Mackaylee Beach Section 8 Pros, Cons, Experiences and Questions
15 August 2023 | 21 replies
The owner must grant such access to computerized orother electronic records & to any computers, facilities & mustprovide any information or assistance needed to access the records.5.
Austin Smith Lead Generation - How to provide incentives?
11 September 2015 | 15 replies
For example, I would assume a $50 gift card to a restaurant or electronic store would be more appealing and provide a better referral than a $15-$25 gift card to the same restaurant.