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Results (10,000+)
Marcus Gold TSP to IRA
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.)
Josephine S. Wholesaling Questions Fort Worth, TX
30 September 2016 | 15 replies
Try saving your money until you can actually invest in real estate, or partner with someone who already is.
Cody Winters Amarillo Title Companies
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?
Calvin Chow What's your niche in the real estate ecosystem?
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.
Tom Harrison Important contacts for landlords
28 September 2016 | 4 replies
It is super convenient and provides significant savings over traditional carpet stores.
Zachary Foust Should I be a Real Estate Agent?
19 December 2016 | 8 replies
You also can save on commission each time you buy one.  
Luke Carl I have the bug! And no cash near Nashville. Your advice?
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. 
Veronica Helms Brand New and looking for Advice!
28 September 2016 | 1 reply
Any keywords worth saving/looking for when searching for lenders?
Luke Carl Do I Need An LLC and Why?
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
Presh Dineshkumar Is PRO membership just as good for Canadians?
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?)