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31 January 2019 | 22 replies
Specifically, I was browsing CrowdStreet's offerings and saw that they offer to pay for fees when using https://www.verifyinvestor.comI understand how I would validate my net worth when it comes to things like retirement accounts, taxable investment accounts, cash in a bank (i.e., simple downloads of statements would likely suffice).
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3 June 2019 | 9 replies
In either case, all of the income and expenses will need to flow in and out of the retirement account.4.
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3 December 2018 | 2 replies
Can these deductions offset your non-rental income, such as W2 and retirement?
13 December 2018 | 7 replies
I do not have another retirement account that qualifies for transfer.
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17 May 2019 | 26 replies
I just kept plugging away & retired in 1998 to take care of all we accumulated & continue to add to our portfolio.
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31 May 2016 | 12 replies
I'm retired Air Force, but started out in the Army.
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2 June 2016 | 2 replies
See the following: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 (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 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 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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12 January 2016 | 8 replies
@Kalen Jordan BP is about REI so I'm suggesting stick to learning it for future profits and retirement - - beats any 401k/IRA.Software is such a kick, it easily becomes a distraction :grin:
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18 May 2016 | 4 replies
Popular with flippers, for the inverse of the reason that discount points are popular with folks buying a home to retire and die in.
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23 November 2015 | 2 replies
Conventional financing is not allowed when purchasing inside of a retirement account since it required personal guarantee which is prohibited, therefore non-recourse loan must be utilized.