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7 June 2016 | 36 replies
Martin runs a popular BP group up there that you should try to get connected with.
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24 April 2017 | 18 replies
Chatham is a very popular place to vacation!
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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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17 December 2015 | 12 replies
Are we aware of the tax rules with different strategies or financing alternatives?
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28 December 2015 | 16 replies
Your logic is sound, but it's the first I've heard of it.I get what you're saying about only being able to use portfolio lenders a few times for flips before being blacklisted, but surely there are alternatives to hard money for those of us with little experience, but with good credit and income...
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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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25 July 2016 | 11 replies
Thing is, almost everything with .com is taken these days, so .co, .cc, .me, etc are all getting more and more popular by the day.In this case however, I think I would choose thechicagohomebuyers.com over chicagohomebuyers.co.
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17 October 2018 | 1 reply
It's a very popular and powerful strategy.
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16 November 2023 | 4 replies
Alternatively, renters can pay with a credit card, debit card, or Google Pay for a 2.75% fee."
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12 November 2018 | 4 replies
Self-directed IRA is a vehicle which allows you to have access to alternative investment options beyond the stock market.