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Results (10,000+)
Peter Arroyo can seller back out after contract signed?
18 September 2018 | 11 replies
Like I said I'm more than capable of clearing all of these issues up, just wondering if I push the seller to work with me more does that give a reason for them to try to get out of the contract?
Chris Keator Self Directing IRA to pay for rehab costs
16 September 2018 | 5 replies
Following 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(mThe 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 companyThe 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 2018, the solo 401k contribution limit is $55,000, 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.)
Neddie Smith Partnership Income / Deduction Split
13 September 2018 | 5 replies
Even then, make sure you are comfortable with it because I feel like a lot of these guys are really pushing the envelop and I don't know how well their stuff would stand up in a court of law or against the IRS.
William Huston Am i stupid to not do this?
17 September 2018 | 8 replies
Expect this, and know your laws and what procedures you should follow ahead of time. 
Naomi W Scales Need help asking my banker
29 September 2018 | 4 replies
I need help in responding to the following request from her.
Drew Y. Cash out and pay taxes?
18 September 2018 | 10 replies
What they would do if they were you is to sell  your property and 1031 into one of the two following scenarios:1.
Anna Buffkin Hurricane Florence tenant memos
12 September 2018 | 3 replies
If you are not sure what to put in the email or whatever form of communication you choose, this is what I say:Be sure you follow all recommendations for the county by local emergency officials.Please remember to bring in all outdoor items ahead of the storm including things like patio furniture and children's toys.Let me know if there is any damage to the property as soon as it is safe to do so.  
Kenneth Jenkins Is wholesaling legal in Alabama
3 March 2019 | 12 replies
then if you do any work on the house you need a GC I know we live in a very frustrating area if your going to actually follow the laws.
Account Closed AirBnb-FHA on a multi-family
12 September 2018 | 1 reply
After reading Bigger Pockets forum posts on this similar topic, I've come to realize the following/have the following question:AirBnb's with FHA as I've now come to understand are not allowed in the supposed OWNER OCCUPIED unit.
Frank Regal House Hacking in the Houston TX Area
14 February 2019 | 15 replies
My wife convinced me to live in an overpriced apartment in the Rice Military/Washington Ave. area our first year there, and then we bought a house in the Rice Village area the following year.