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Results (10,000+)
Tyler Gregerson Which BP Suggested SD IRA should I use?
14 November 2018 | 4 replies
@Tyler GregersonFollowing 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 2018, the solo 401k contribution limit is $55,000, 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.)
Carrie Hale How do I get the drug dealer next door out of his condo
15 November 2018 | 8 replies
Anonymous phone call to the authorities
Denise Evans Funky Alabama Tax Sale Property Interests
8 November 2018 | 0 replies
Examples include airport authorities who lease land to others for hangers and distribution centers. 
Cheryl Daniels Tenant put Padlocks on all Rooms in Unit
14 November 2018 | 51 replies
My lease states they cannot change locks without authorization and they must provide me with a copy of any/all keys within five days of the change.A Landlord must have access to the property for emergencies.
Mindy Jensen Ep 303. OUCH! Brandon and David's 10 Biggest Investing Mistakes!
28 November 2018 | 25 replies
Anyone know this title/author?
John Ray Notice of Default Filed - Owner Deceased
10 November 2018 | 7 replies
Servicer likely won't even speak to them as they are not the executor and have no authority over the borrowers account.
Frank Capuano Ohio Rental Investment
14 November 2018 | 3 replies
Your first step is to link up with the local metro housing authority (MHA)...this will be at the county level, or maybe the city for larger cities like Columbus.
Irina Belkofer "Subject to" purchase
13 November 2018 | 7 replies
I'm assuming it's like negotiating a short sale - start from authorization to disclose info?
Kyle Howard Can a Quit claim deed get the job done?
18 November 2018 | 25 replies
you definitely want to get a title commitment on this it will tell you who is authorized to transfer title.. if there was no proper probate then that needs to be handled..
Amit P. The Secret Shame of Middle Class Americans
14 November 2018 | 17 replies
Without blaming anyone else and taking full responsibility, the author really lays out the plight of the American Middle Class (and himself).https://www.theatlantic.com/magazine/archive/2016/05/my-secret-shame/476415/Inspires me to keep investing and building assets and saving so I can spend on what I need and in times of emergencies.