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Results (9,314+)
Greg Sonnier Using SDIRA for Commercial Office
30 August 2017 | 7 replies
Would this be a prohibited transaction- Let's say I purchase a commercial office building with my SDIRA and lease that property to my full time employer.
Justin Lane Military Newbie Looking to Leverage Frequent Moves
22 November 2017 | 8 replies
This will allow us to save our cash flow and save additional income from our jobs in order to transition to creative financing when our debt to income ratio prohibits utilization of the strategy listed above.I look forward to hearing from the BP community, contributing where I can, and learning learning learning.
Alexcia White What do you do when you run out of money renovating a house
3 August 2021 | 13 replies
There are a couple of prohibited persons such as certain family members and business partners.
Gregory Bargiel New member from North Jersey
11 January 2016 | 6 replies
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 bankruptcy creditors;Both are prohibited from investing in assets listed under I.R.C. 408(m); andNeither may be directly invested in your own business startup  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 (self-directed IRA LLC) must be utilized;The solo 401k allows for checkbook control outside the LLC;The solo 401k allows for personal loan known as a solo 401k plan.If you borrow from your own IRA, it will be deemed a taxable distribution;Unlike an IRA, a Solo 401k can invest in life insurance;The solo 401k allow for high contribution amounts (for 2015; 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 his or her solo 401k;The self-directed IRA participant/owner may not serve as trustee or custodian of his or her IRA; instead, a trust company or bank institution is required;Unlike an IRA, generally 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, generally 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--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 401k RMD requirement;Roth IRA funds are not subject to requirement minimum distributions (RMDs);The fair market value (FMV) of assets held in a self-directed IRA is reported on form 5498;The fair market value of assets held in a solo 401k are reported on Form 5500-EZ;At termination, the solo 401k is required to file a final Form 5500-EZ and 1099-R; andAt termination, the self-directed IRA is only required to file a form 1099-R.
Wesley Pittman Questionable Incentives for Agents
14 July 2015 | 6 replies
RESPA prohibits the loan officer from giving your Realtor and kickback over $25 I believe.  
Leon Duncan Can you wholesale a short sale
5 October 2020 | 28 replies
are you saying the Federal rules prohibit the assigning of short sales negotiated through a lender?
Mark Ferguson Complicated deal for rental. Thoughts?
19 March 2013 | 15 replies
IIRC, the Colorado Foreclosure Protection Act prohibits filing new liens once a NED (Notice of Election and Demand, for non-Colorado readers, usually called a NOD or lis pendens in other states) is filed.
Tim Smith Tenant Files Bankruptcy
24 September 2012 | 3 replies
This prohibition is known as the "automatic stay."
Harry Metzinger Rent / LO to Short Sale Owner. Is this legal? What to consider?
14 March 2016 | 6 replies
@Harry MetzingerAs the article says, most, if not all, banks are prohibiting this in the affidavits and closing docs.We used to do this with some success, but banks are no longer offering the deep discounts that we saw a decade ago that make this arrangement make sense.  
Michael Maloney Jr. Potential deal atop the bar?!?!
22 March 2016 | 8 replies
And don't ex-meth houses have all sorts of code violations that are prohibitive to overcome?...