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Results (10,000+)
Robert Pickles Feedback on MidAtlantic IRA
22 September 2018 | 15 replies
@Kim BlattYou may want to look into a self-directed solo 401k plan if you are looking for ultimate control over your retirement funds.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).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.)
Michael Czepil Building Credit Score
12 November 2012 | 8 replies
I have read different theories ranging from taking out small loans to raising the limit on current credit cards, and really just looking to see what has worked for people on BP.
Jonathan Tew Contract no Buyers.........
24 September 2012 | 22 replies
i don't see myself limiting earnings to where there are CASH buyers that will jump all over this deal.
Paul S. Out of state purchase as a first time investment
25 September 2012 | 19 replies
If you buy a desirable property the tenant and buyer pools aren't really limited by schools.The reason I asked about separating PM and RE functions is so you get unbiased information.
Albert Hepp SmartMove and Social Security Verification
16 April 2018 | 10 replies
It seems like it limits the value/protection for landlord of the service SmartMove provides.Having done only 1 verification, it seems to me that SmartMove needs to enable the Tenant/Applicant to be able to send this information, verified by SmartMove, to the Landlord when they do enter into a lease.
Mark Forest Lease contract wording
25 September 2012 | 9 replies
Most states limit the amount you can ask for a deposit.
Braden Souder Seller wants 70k and worth 80k. What you think?
22 September 2012 | 8 replies
It may limit your buyers to landlords.
Bill Gulley THE 47%
24 September 2012 | 10 replies
They want to cut Pell Grants out, get rid of college loans and by doing so limit who goes to college.
Rob K. Big changes to Section 8?
25 September 2012 | 28 replies
But at the same time is reminds everyone that the program that subsidized housing comes with limitations.
Sergiu Spinu 7 BR house any expirience
27 September 2012 | 22 replies
Tenants are on limited housing budgets (usually), so they don't want to spend extra if they can avoid it.