asked
I have a solo 401k set up through MySolo 401k Co. They have created a retirement trust and under the trust, we created an LLC to buy real estate. Now, I am in escrow to buy an income apartment building but need more funds to close. Can I set up a TIC (Tenancy in Common) entity with my own after-tax funds to buy the property in escrow? Is this a prohibited transaction under ERISA rules, or can it be done? If not, can I create a new LLC with two or more members to invest in the partnership with my solo 401k?
February 24th, 2024
How would you invest 100k to help with a mortgage payment besides spending the principal?
December 8th, 2024
How should I fill out the W-8BEN form as a non-US citizen residing in Indonesia, who worked for a US company and has funds in an Employee Capital Accumulation Program, specifically for questions 5, 6a, 6b, 7, 9, 10, and how to specify the type of income and explain the additional conditions for the rate of withholding?
October 13th, 2023
Does owing back taxes to the IRS affect federal aid eligibility when completing the FAFSA form?
June 21st, 2023
My daughter, a single mother of five, had her tax return of $15,000 intercepted by the IRS for a decade-old child support debt of $12,137, which included stimulus payments meant for her children. This debt was incurred without a court order and was paid off. Is it legal for the IRS to intercept these funds, especially since the stimulus payments were promised to every American citizen during the pandemic, and should the children who were not born when the debt started be responsible for it? How can we appeal this decision and potentially get the money returned to the children?
August 22nd, 2023
I need help filing a K1 1065 for a multi-member LLC in Washington. Specifically, I need to understand where to report our expenses on the form.
May 23rd, 2024