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Results (7,375+)
Ken Scarbrough Self directed 401k questions. PLEASE HELP!!
30 January 2018 | 3 replies
If you are not self-employed then an IRA can also be opened.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 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.)
Account Closed Buy and sell from a distance
28 February 2018 | 7 replies
You'll be able to sign all documents via electronic signature or portable notary.
Andrew Nesbitt Flippers...do you have a portfolio online of your projects?
5 November 2023 | 5 replies
I keep an electronic folder for each job Usually before after pictures, contractor quotes, bigger receipts, financing, etc But I don't upload this for the public.
Marci Fournier New Here What are your top 3 wisdom statements for me?
3 January 2019 | 29 replies
Ie, if you time to edit their business blogs, help them with their newsletter, what ever it may be.
Chuck B. How do you "harden" your rentals?
5 December 2021 | 380 replies
On common hall doors or laundry doors I use the Schlage lever electronic access locks.
Patrick Keene Long Distance Real Estate Investing (D. Greene)-- Who's done it?
29 April 2018 | 28 replies
Everything is electronic and I haven't seen my two properties in Arizona in years.
Ellen Allerton laundry payment system
13 June 2017 | 3 replies
I'd like to look into switching to some kind of electronic payment system and leasing the washer/dryer.  
Melanie Hollimon REI investing in Georgia, Tennessee and Alabama
22 October 2017 | 7 replies
Any suggestions on electronic payment system software?  
Cody Jaeger New investor and can't find a private investor
3 July 2014 | 2 replies
Create a free website and newsletter to keep them interested.   
Thomas Fortune Facebook PPC to find sellers?
7 July 2017 | 34 replies
I was soliciting people interested in my free newsletter subscription.  ;-)