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21 January 2016 | 7 replies
But of course when you use your retirement account to invest in your business there's a number of compliance requirements at the beginning as well as an ongoing basis.The following IRS website cover the ROBS. https://www.irs.gov/Retirement-Plans/Employee-Plans-Compliance-Unit-(EPCU)-Completed-Projects-Project-with-Summary-Reports-%E2%80%93-Rollovers-as-Business-Start-Ups-(ROBS)Also, here is how the process generally works.A new C-corporation is established.Corporation sponsors a new 401k/PSP.The IRA funds are transferred to a new brokerage account opened for the 401k/PSP.The new franchise corporation issues stock shares to the 401k/PSP for the benefit of the franchisee.The franchisee must be an employee of the franchise business and he or she may take a reasonable salary.The franchisee’s family members may be employees of the franchise business and receive reasonable compensation for their services.To the extent that the corporation generates profits and elects to distribute those profits to the owners of the business, the percentage of the profits associated with the shares held in the 401k/PSP will flow back to the 401k/PSP brokerage account.
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21 January 2016 | 12 replies
Accepting delegation is accepting that the task will not be performed the way you would do it.As "expensive" as property managers are, they are still mostly cheaper than employees!
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21 January 2016 | 19 replies
Besides, loan officers are usually not executives - the ones I have worked with are mid-level employees at the banking institution.
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23 July 2019 | 36 replies
The CFPB and the FTC have employees whose whole job is to troll websites looking for violations.
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2 February 2016 | 73 replies
If you have 50 employees and a separate management team, it should be fairly easy to convince a judge or jury that you and your business are very separate entities; but, if it's just you (or just you and a spouse), the line between you and your entity is going to be grey.
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30 January 2016 | 18 replies
Because we specialize in manufactured housing and most home inspectors don't know enough to inspect them properly, we have an employee who is properly trained who we pay plenty and we ended up buying a whole lot of diagnostic equipment for and supplying a vehicle to.
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26 January 2016 | 9 replies
I, along with the founder of a fledgling social good technology startup hell-bent on changing the world raised a sizable seed round of equity financing from private investors in New York City, many of whom scared the daylights out of me and their employees on a minutely basis.
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30 January 2016 | 6 replies
One issue here is that for a direct deposit, the name of the employee has to be on the bank account to which the deposits are made, so I'm not sure this will work for you.It sounds like your tenant would do fine with a weekly rent payment though.
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28 January 2016 | 7 replies
So I went to college instead of pursuing real estate and now I'm a full-time employee for a civil engineering firm pursuing real estate on the side.
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8 June 2016 | 34 replies
What I took away from it is that you need to change your thinking and how you look at money if you ever want to retire the way you want to or if you want to be rich Money is nothing more than employees and you choose if you send them away to die or if they are going to work for you!