
11 November 2016 | 7 replies
You may also want to consider an IRA LLC or a Solo 401k.Following 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 (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.)

30 September 2016 | 15 replies
Try saving your money until you can actually invest in real estate, or partner with someone who already is.

31 May 2019 | 20 replies
Seems most people on this post only read half the OP's original post, every title company in town is fine for a "traditional" transaction, but how many are actually investor friendly, save investors money, get complicated title issues resolved fast and understand non traditional funding and items such as assignments and do double closes?

1 October 2016 | 8 replies
Mine has been MFU 5+ near schools and looking for applicants with children, no pets.Current marketing PLUS is single car lockable garages - - rare and save tenants cost of storage spaces.

28 September 2016 | 4 replies
It is super convenient and provides significant savings over traditional carpet stores.

19 December 2016 | 8 replies
You also can save on commission each time you buy one.

30 September 2016 | 8 replies
Save for 12 months and put every penny into the next one with no emergency fund other than my 401K and equity.

28 September 2016 | 1 reply
Any keywords worth saving/looking for when searching for lenders?

3 October 2016 | 3 replies
Regardless of which route you go being thorough with your accounting can save a lot headaches come tax time.Thanks,MH

25 November 2016 | 8 replies
Second to that is the unlimited saved calculator results, but I hardly use those because they look weird to Canadians (30 year fixed term?)