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5 November 2013 | 16 replies
The program is phasing out the federal insurance subsidies.
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25 October 2013 | 6 replies
I have to deal with this all the time as I don't do Sec8 or Pets.A quick google search looks like you maybe ok - "Fair Housing Law State and Federal laws provide “fair housing” protections for certain populations to prevent discrimination in access to housing.
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26 October 2013 | 4 replies
Make sure you know all the laws (state and federal) about buying and selling with seller financing.
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29 October 2013 | 46 replies
NC's state-level JOBS act of 2013 (HB 680) mirrors some of the federal structure but with a $1M limit regarding audited financials.
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28 October 2013 | 16 replies
If I were to sell, I'd just put the money into mutual fund in a taxable investment account.
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5 June 2019 | 46 replies
@Gretchen KnizeThe following compares the solo 401k vs the 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); andNeither may be invested in your own Retirement funds business startup.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 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.)
5 November 2013 | 14 replies
My housing allowance from the military is not taxable, so does that mean that if I was to buy a home I could deduct it during tax season from my base pay?
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6 November 2013 | 26 replies
In accordance with the Gramm-Leach Bliley Act of 1999 (Federal legislation concerning the protection and disclosure of non-public personal information), we have no ownership interest in the referenced property and suggest you contact your local County Tax Assessor, Clerks Office or County Sheriff Office.
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12 November 2013 | 6 replies
Eagle Premier Title Group on Light St in Federal Hill.The suggestions Ned gave above are ones I have used as well.
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3 November 2013 | 18 replies
I plugged those numbers into the REI property analyzer, estimated expenses based on my knowledge of Louisville rental markets and it came up with the following: CAP rate 8%, cashflow/initial investment 15%, NOI $16,950, cash flow before taxes $7287, taxable net income $2177.