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Results (10,000+)
Sam Miller Starting from scratch with a Self Directed IRA or Solo 401(k)-
8 September 2017 | 8 replies
@Sam MillerFollowing are the similarities and differences between the solo 401k and the self-directed IRA.The Self-Directed IRA and Solo 401k SimilaritiesBoth 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 (Checkbook IRA) 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.)
Matthew Charron Seeking info on how to structure a partnership for B&H properties
6 September 2017 | 0 replies
As far as purchasing houses goes, does one name or both names go on the property?
Joe Lewis Has anyone partnered with others this way
9 September 2017 | 6 replies
If you have heard of such arrangements is there a name for it?
Cameron Whitehead Property management in College Station & Waco?
30 September 2017 | 3 replies
Hey Cameron, I own Aggieland Properties with a partner of mine named Jeff Leatherwood here in Bryan/College Station.
Joe T. New Member Introduction from Winterville, NC
8 September 2017 | 5 replies
Hello, my name is Joe Toothman and I am interested in becoming a real estate investor.
Jay Sechowicz Having a tenant get sick
8 September 2017 | 18 replies
We sent out revised emergency contact forms to all of our residents this year, asking for the name of the person who has permission to remove their belongings "in the event of prolonged absence from your apartment".They understood what we were asking.  
Mike Day How did you get financing after your 4th property?
12 September 2017 | 11 replies
You can get 10 in your name.
Dan Graves LLC question regarding partnership
26 September 2017 | 17 replies
Should I be concerned about being a 50/50 owner of a commercial property if my name is not listed on the LLC? 
Luke Carl Two 1031 Exchange Questions....
11 September 2017 | 14 replies
If the builder is willing keep the project in his name while constructing then indeed when you sell you can execute a 1031 exchange and buy the new property when it is complete or when the value of it is enough to cover your exchange but within the 180 day limit.You just can't take title to the new property until the old property sells in order to complete the exchange.
Luke Bauer Brand new to RE, Athens GA
20 September 2017 | 3 replies
My name is Luke Bauer and I'm brand new to real estate.