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12 September 2015 | 1 reply
If so, is there an alternate provider for similar service?
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18 July 2019 | 5 replies
Offer to pay for a moving truck for them to load their stuff into.
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21 August 2019 | 19 replies
@Joe BakerGood question.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;Both are prohibited from investing in assets listed under I.R.C. 408(m); andThe 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 (CHECKBOOK 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.)
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13 December 2015 | 17 replies
I would advise you to trust your gut, perhaps its time to pursue an alternate lender.
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28 December 2015 | 31 replies
You have advocated use of an option contract as an alternative to wholesaling.
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25 December 2015 | 11 replies
I currently own a duplex closed on last july, and rent 1/2 out, with a -$100 + utility's cash flow, and drive truck every other minute (seems like) of the day. recently diagnosed with COPD, and need to strategize on replacing my income before I can no longer work... should have thought of this before I turned 52, but no time like the present!
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28 December 2015 | 2 replies
Here are the pros- I have all the construction equipment possible from bobcats,dump trucks to boomlifts there's really nothing me or my guys can't handle.
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5 January 2016 | 11 replies
I missed the nephew and his large pick-up truck again this afternoon; I would like to have a remote camera across the street to stop wasting trips - lol.
12 January 2016 | 9 replies
Hello my name is M Marquis Harris i currently currently drive semi trucks buy i am extremely eager to learn and gain tips on how to best get involved in real estate i looking for any information i can gather such as websites books or any information that would help a newbie trying tto gain knowledge on real estate
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22 January 2016 | 1 reply
I want to establish some alternative financing sources to assure that this doesn't happen again.