(you would still get the deferment for federal purposes but not state purposes).PA also does not recognize net operating losses(NOL)'s for individual taxpayers.Normally - if you have a loss in one year - you can carry it forward(or back) to offset income in a future...nope not in PA.Let me know if you have any questions.

Now, a potentially interested buyer got a new cost estimate - at $1.5M.Now that the cleanup cost exceeds the value of the cleaned property, the only hope my client has is to get a "Brownfield" designation and get state or federal help with the cleanup costs.

I've paid all of $276 in federal income taxes over the last 14 years.By doubling my standard deduction and not disallowing investment property benefits like deducting mortgage interest. property taxes, allowing depreciation still, etc I see it being even more favorable so far.I shouldn't be the one who benefits from 'tax reform', but I will. 

As we are a state capitol, have OSU graduating around 6000 students a year and have just been given a huge federal grant to become the first "smart city" in the country, there is no shortage of need for multifamily housing.  

@BJ Everson Most Economists see the next recession as either 2019 or 2020, due to the Federal Reserve raising interest rates too high.

If the members in the LLC are passive, it would technically be considered a syndication and would require you follow Federal and State securities law (e.g.

While doing some searches for investment loans I️ ran across this. Seems like you can use this for a BRRR strategy. Has anyone had experience with this loan or have an opinion on it?

https://www.penfed.org/mortgage-c...

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; 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 (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 2017, the solo 401k contribution limit is $54,000, 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.)

I️ have experience with southern Baltimore city (federal hill, riverside, pigtown, Ridgely’s, etc) if you’re interested in knowing more.

We set up an LLC in our state (Colorado) with federal EIN, and will set up separate bank and credit accounts for the LLC.