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20 February 2017 | 13 replies
If you know what type of client you'd like to serve most, focus on that and express that to any future broker up front so you're more likely to get a good "fit".Good luck!
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11 February 2017 | 14 replies
I know we serve for purposes much more honorable than discounts but remember, perception is reality.
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27 January 2017 | 3 replies
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.)
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30 January 2017 | 10 replies
Chris L. said and letting them lead you through the process is the easiest thing in the world.4.
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1 February 2017 | 16 replies
And by failing to do our homework, we took an L. 3).
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26 January 2017 | 4 replies
Can your service business serve as collateral for a Business Line of Credit?
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17 February 2017 | 12 replies
If you will send me the actual P&L from the property and a market analysis I can give you a better picture.
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28 January 2017 | 5 replies
The three exemptions listed are Any portion of the 5-year period ending on the date of the sale or exchange after the last date you (or your spouse) use the property as a main home;Any period (not to exceed an aggregate period of 10 years) during which you (or your spouse) are serving on qualified official extended duty: As a member of the uniformed services;As a member of the Foreign Service of the United States; orAs an employee of the intelligence community; andAny other period of temporary absence (not to exceed an aggregate period of 2 years) due to change of employment, health conditions, or such other unforeseen circumstances as may be specified by the IRS.I am trying to figure out if exemption 3 is applicable if you go over 2 years, and you would be trying to figure out how much of exemption 1 applies to your situation.
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1 February 2017 | 12 replies
Maybe a bit against the grain of all the great advice I received, I went ahead and served the rent hikes to all 6 potential candidates. 2-3 of these were M2M and also happen to be my worst tenants by far.
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31 January 2017 | 22 replies
Once completed, then there would be one or more documents for you to download (this one shows a couple of years of P&L statements, offering memorandum, rent roll, and condo docs/by-laws).Hope that helps!