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Results (10,000+)
Mark Douglas Denial Letters for All? ...or Credit Issues Only?
6 December 2016 | 9 replies
Do employers still send denial letters to applicants?
Brian Coleman Screening international tenants
6 December 2016 | 3 replies
So I ask for passport, visa, school registration paperwork, and proof of funds.They few times I've had non students, the employer may write a letter as proof of employment and verification of salary/wages.
Mike Pichik IRA to 1031 for Real Estate Invenstment
6 October 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.)
Danny Wu City population decreasing matter?
17 October 2016 | 6 replies
For example, check your local or regional economic development organization for much more information on the housing stock, supply and demand, vacancy rates, building permits, job growth, migration, demographics, job growth, employment, etc, etc, etc...In short, I think it is a good start to note a falling population, but you may want a fuller picture of the economic and demographic information related to rental demand and factors driving it.
Andrew Abbott Chicago Market for First Investment Property - Yay or Nay?
25 August 2016 | 18 replies
It all comes down to employment growth which will drive real estate demand.
Corey W. Lender requiring Comfort Letter
19 May 2016 | 7 replies
Or even that the comfort letter would only be used as an opinion and could not be used for any legal kickback, issues, etc.I'm self employed and essentially I run my own business.
Christian Bors Signing a lease a month in advance, what do you collect?
1 September 2015 | 19 replies
They have very high incomes, long length of employment at current employer and no pets.  
Alexander Timberlake Solo 401K Questions for REI
27 December 2016 | 18 replies
@Alexander TimberlakeYes, you can have a Solo 401k (for your business or self-employment activity) AND be a participant in a 401k plan with your employer.
John S. How to remotely show prospective tenants cheaply?
6 October 2020 | 7 replies
First the fee gets split with their brokerage, then it is business income, so part is going to the business, then it is taxed as self employment income. $200 that you would want to pay is only like $50 into an agents pocket. 
Scott Benton Are there mortgage brokers for private money loans?
4 March 2019 | 17 replies
Since I work in the motion picture business where you move around a lot from studio to studio, I can’t show steady employment with one single company for two or more years which means I may need to explore the world of private money.