Jeff L.
The 10 mortgage limit: is it 10 LOANS or 10 PROPERTIES?
4 February 2016 | 30 replies
Considate a 2nd time, incorporate, transfer the profits to the business.
Lynn Knights
Income Tax Return - Buy or pay on Debts?
25 January 2016 | 4 replies
Do a balance transfer ( maybe finding one with travel points for wedding purposes, still researching.)
Rachel Shepherd
Are tenants really willing to pay online?
22 May 2016 | 33 replies
It's free for bank to bank & the transfer happens the next business day.
Donnell Evans
Becoming a section 8 landlord
23 February 2016 | 11 replies
I simply called and ask them what I need to do to have the account transferred to my name and it was as simple as a W9, direct deposit form, and an addendum to update the lease agreement (or a new one if tenant is month to month).
Anthony Kondor
how can I buy a multi-family without using any cash or credit,
25 April 2015 | 23 replies
Master lease doesn't transfer legal title, only equitable.
Sloan Anderson
Denver Deal Analysis
26 April 2015 | 6 replies
After my wife and I closed on the house, my brother and our mother would give us his portion of the down payment as a non-taxable gift (both gifts under $14K limit per giftor) with the intention that we would transfer ownership of the house to a LLC owned by all three of us.
Corwyn Patterson
Limited Warranty Deed
23 April 2016 | 3 replies
As an example a quit claim deed is a valid way to transfer title but it is a red flag for the next title company when you go to sell.
Syed Khan
Selling cost
3 May 2016 | 11 replies
Some places have transfer taxes which can substantially increase the cost.
Dexter Morris
I am a newbie, looking for great help.
14 June 2016 | 6 replies
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); 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.)
Chuck Dangar
Transfering Money - Personal Account to an LLC in another state
13 July 2018 | 3 replies
I am trying to wrap my head around how to transfer money from a personal savings account and HELOC in one state to another state that will hold my business/LLC account.