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Results (10,000+)
Marsha Segree SD401K vs SD IRA and Checkbook Control
8 November 2016 | 5 replies
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.)
Brian Twigg Moving out of California
16 November 2016 | 18 replies
Cash flow is great there and landlord laws are some of the most friendly in the nation
Jessie Wells Airbnb/Homeaway verses a long-term rental in Austin, TX
30 January 2018 | 10 replies
Check out this Zumper report:https://www.zumper.com/blog/2016/05/zumper-national-rent-report-may-2016/
Account Closed Good Bye Dodd-Frank- OWC on the way Back
9 November 2016 | 1 reply
It is tied into other agencies/departments which together forms the institutional oversight of finance and the economy, that's something that follows the "R" goal of fraud and abuse in banking.
Samantha Soto How will this election affect real estate?
14 November 2016 | 31 replies
The problem is that folks read NATIONAL news, when a lot of RE is local.Will rates rise and put downward pressure on housing prices, most likely.
Eddy Rivera Aspiring investor in the philadelphia are
4 April 2017 | 6 replies
Philadelphia really has a diverse real estate market extending opportunities in all categories.Big suggestion to join Diversified Investors Group your local REIA Linked to National REIA which extends education, networking and opportunities.House Hacking is a hot movement right now whether using FHA or Freddie Home Possible.Let me know if there are any questions.Regards,Joe Scorese
Sam Fivey A renter's legal standing
4 April 2017 | 4 replies
The management company is Alliance, a major national company, so the likely hood of them needing to get funding is slim.
Dave S. 100% Seller Financed Deal - What to expect with Tax time
4 April 2017 | 1 reply
It adds confidence, too, having a financial institution do the accounting, monthly statements, etc.
Ramon Polo 2 Ways To Target Motivated Real Estate Sellers On Facebook
12 September 2018 | 27 replies
Years of speaking (even keynoting) at national internet marketing conferences, and hiring dozens of digital marketers, I hear a lot of game - people who can talk all day, but when it comes down to it, can't deliver.
Cary F. Investing in Bank Notes - General Questions
6 April 2017 | 4 replies
I currently use the tools of quantitative risk management to help manage large consumer loan portfolios at a financial institution.