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Results (10,000+)
Tony Rawhouser cash out 401k or get a loan
24 September 2020 | 4 replies
If the money is in your current employer plan and you saved the money from working for your current employer, you generally can't take the funds out of your 401k until you quit your job.As an alternative to taking a distribution from your 401k, consider the following:If you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job.You could then take a loan of up to 50% of the balance not to exceed $50,000.
Timmy Riggs Selling duplex, How to inform renters?
11 September 2020 | 8 replies
Face to face fosters better relationships.
Quincy Hall Should I use my 401k to purchase a rental property?
26 August 2020 | 7 replies
@Quincy HallIf the money is in your current employer plan and you saved the money from working for your current employer, you generally can't take the funds out of your 401k until you quit your job.As an alternative to taking a distribution from your 401k, consider the following:If you are self-employed (i.e. active self-employment earned income separate from your w-2 income) with no full-time w-2 employees, you can set up a Solo 401k and then rollover your 401k funds once you leave your current job.You could then take a loan of up to 50% of the balance not to exceed $50,000.
Lea Hong Do I need a new CPA and a new LLC after 1031 in another state?
26 August 2020 | 8 replies
In fact, in many jurisdiction it is illegal for CPAs to form LLCs, known as practicing law without license.If you plan a 1031 exchange, you need to hire a qualified intermediary such as @Dave Foster, and do it before you sell your land.
Karen Sandvoss 2 Lesser-known security options for vacant properties
12 November 2020 | 7 replies
Cameras also help us confirm the number of hours hourly paid employees work and it helps to keep employees honest when reporting payroll.There are also companies that set up cameras around the property that run on solar.
John Lyszczyk Why is Lumber so Expensive?
10 June 2021 | 71 replies
The shutdowns did not include sawmills and treaters as we were deemed "essential" however, uncertainty lurked throughout the industry and many companies decided to lay off employees.
Matthew Tierney Finding a intermediary to facilitate a 1031 exchange
29 August 2020 | 2 replies
@Dave Foster knows all there is to know!
Patrick Bunn Using Retirement Accounts for REI
31 August 2020 | 12 replies
Although the plan I had with my previous employer allowed me to take out loans and pay myself back with interest, that’s not accessible to me because I’m no longer an employee.
Dana Regan Self funded IRA purchase of property
1 September 2020 | 8 replies
In addition, if you are self-employed with no full-time employees you may wish to consider opening a Solo 401k instead of a self-directed IRA as it has several advantages over an IRA LLC such as much higher contribution limits, direct checkbook control (i.e. no need to have the account at a specialty trust company), ability to take a 401k loan, exclusion from unrelated debt finance income tax with respect to investment in real estate acquired with non-recourse financing, etc.In addition, please note if you purchase debt-financed real estate with your IRA, unrelated debt finance income tax should apply to the income attributable to debt-financed real estate held by your IRA.
Andy Hayes 1031 Exchange and Seller Financing
31 August 2020 | 9 replies
I would love to hear from @Dave Foster on whether he agrees with me or not.