
9 November 2016 | 11 replies
P&L by the current owner is not a reason to pass up a good deal, because your numbers should already confirm or deny whether it is a good deal.

8 November 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.)

9 November 2016 | 4 replies
BP has all the information on real estate served up on a silver platter.

9 November 2016 | 5 replies
I'm a Marine Corps veteran and currently serving a Government Contract overseas.

14 November 2016 | 31 replies
Exceedingly smart move on their part, for those foolhardy enough to have spoken poorly of him now sit in a very precarious position where their own existence is at stake. 3) Regardless of what anyone thinks we (the US) still wield more power around the globe than nearly all of the other countries in the world combined, and you would be the fool of fools to ignore that and would do so at your own imminent peril.4) I'm not a Trump supporter and I have reservations about how he will govern, but simply parroting lines that come straight from the Democratic Party's Political Hit Manual doesn't serve any purpose but to perpetuate such tripe.

9 November 2016 | 4 replies
Then prepare your claim (with photos) and serve the papers on the person.

12 November 2016 | 9 replies
Simple route, since she is not a tenant, not paying rent, is to serve her and her kids with a no trespass notice.

6 April 2017 | 11 replies
You should review with them what they left off the P&L.

2 April 2017 | 8 replies
Jacked my interest rate up for a big fat lender credit to cover closing costs.Got $8,000 in lender credit.Paid $120/month more, for six months, because of that higher interest rate.Did a VA IRRRL right at the six month mark (lurkers: this is ONLY for VA loans... call 1-800-Marines and serve for 4 years if you want this).Closing costs on the refi were about $2500.So I got $8,000, but was out [ $120 * 6 + $2500 = $3220 ].

8 April 2017 | 6 replies
It serves mostly as an added amenity, since the units don't have W/D hookups and most people like the convenience of not needing to haul their laundry off-site.