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16 August 2016 | 7 replies
I totally understand where you are coming from and wish i started at your age.
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17 August 2016 | 11 replies
., 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.)
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17 August 2016 | 2 replies
The house may be a total mess inside who knows if it is even worth it but it was an interesting scenario.
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5 October 2016 | 16 replies
Finally, there will be federal taxes beyond beyond income tax, since you are considered running a business, you'll be liable for self-employment taxes related to the business income from your nightly rental business.The proposed legislation limits the total number of nights to 90 per year (for units that are not owner occupied, like a home).
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28 August 2016 | 16 replies
Meeting other member online in a variety of backgrounds is a great resource.
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16 August 2016 | 6 replies
I recommend doing a lot of reserach online first.
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23 August 2016 | 9 replies
Do you just keep mail to them so many times, then totally scratch that list and buy a brand new list to work from?
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15 August 2016 | 1 reply
The two most popular options seem to be using 15% downpayment if buying a duplex or by using an FHA loan that requires 3.5% downpayment plus additional fees depending on the total loan amount.
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15 August 2016 | 3 replies
I am very capable in excel, having manually and mentally run the numbers of multifamily units listed online I have found that none of them come close to meeting the 1% rule.
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19 August 2016 | 13 replies
In our FL As Is contract, which you can find online (FARBAR AS IS) the inspection period is an absolute get out of jail free card, Paragraph 12.....something to the effect of "If buyer determines, at sole discretion of the buyer, that the property is not acceptable, Buyer may terminate this contract.....and the EM will be returned".