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Results (10,000+)
Shawn H. Land trust/LLC tax question
6 August 2012 | 7 replies
I'm trying to follow suggestions from other members posts to obtain privacy(Land trust) and asset protection(LLC).
Casey Marley 2 story 12-plex versus 3 story 16 plex? FLOOR PLANS?
17 January 2019 | 7 replies
This is simple watered down way to do it but at least it gives you a idea quickly on the profitability of the asset.
Joe Smith resident managers and finances
27 September 2012 | 5 replies
Reading another post got me thinking about this again.For those of you who own larger multi-family, self storage, mobile home parks, etc, anything with a "resident manager" who lives on-site--do you give you resident manager signing authority on bank accounts and/or allow them to handle finances?
Matt Liu Can your equity partner do a HELOC on his share of your property?
18 September 2012 | 4 replies
If it's in a business entity and you want a loan, the person authorized to encumber the property in the company signs and the minutes or partnership agreements need to show such approval to act in that matter.
Kurt F. Attic Apartment
24 September 2012 | 2 replies
So, just based on that sort of concept of capitalizing on every available asset, I am kicking around the idea of getting another rent out of the duplex and turning it into a triplex.
Jim Edwards Photo ID cards for HOA members
4 February 2013 | 6 replies
Does the HOA/ Board members have the authority to demand that i have my picture on the card.
Matt Liu Credit Partners... The Key to Wealth??
18 January 2014 | 13 replies
They are not going to buy investment real estate alone because they don't know how to find good deals like I do, and they're scared of many aspects of managing the asset, but I'm not.I believe this is a very powerful approach, and yes there are some kinks to work out, but it can be tackled.
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
Have a family member with an excellent credit history add you to their account as an Authorized User.
Shannon X. Business Plan
22 September 2012 | 7 replies
Gon't exagerate.I remember one guy that came to me with a decent plan, decent numbers, sufficient assets and a decent product, but he didn't get a dime from me.....why?