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3 February 2019 | 15 replies
Appraisers come in all types business, real estate, notes, jewelry, etc. most appraisers don’t want to lose their license and will do a professional job and are willing to defend it in court if necessary.
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30 December 2018 | 0 replies
I also had to sell my own precious house of 40 years.
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30 December 2018 | 0 replies
I also had to sell my own precious house of 40 years.
13 January 2021 | 243 replies
I personally also choose to have physical precious metals, but that isn't for everybody.
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1 October 2018 | 8 replies
@Mike ChurchFollowing 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 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.)
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14 November 2018 | 15 replies
Piedmont is probably too precious for what you want to do.
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12 March 2019 | 18 replies
I won't accept cosigners because every...single...time I accepted them, they refused to take responsibility when their precious child failed to pay rent or left a place trashed.
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26 March 2019 | 7 replies
To get out there pretty far and just match gears with the precious metals people, I don't think that hoarding precious metals has much of a future past the next thirty years as humanity develops asteroid mining capabilities.Here's sausage in your eye!
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3 April 2019 | 59 replies
I ask sellers of many other things such as jewelry, yard sales, or estate sales, if they know of any properties for sale.
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9 April 2019 | 27 replies
One of my very close friends owns a couple of jewelry stores and I paid wholesale for the stone.