When we talk about everyday success stories, a majority of these come from the real estate industry where our average Joe made a fortune with real estate investments. Real estate is a time-tested investment tool, which is likely to offer decent returns to the average investor. However, not everyone has the skills or time to […]
In the recent case of Thiessen v. Commissioner, 146 T.C. No. 7 (2016), the Tax Court considered how long the IRS has to allege a prohibited transaction against self directed IRAs. In general, the IRS must allege a prohibited transaction against self directed IRAs within three years after the return is filed. IRC 6501(a). However, that time-period may be extended […]
“Investing” is a simple concept under which, you use your existing money to create more money and so on. However, the art of investing is difficult to come by and you will encounter an army of amateur investors that didn’t make it. But it is rare to find a bank that had a similar opinion […]
Small businesses are the backbone of the U.S. economy, accounting for 66% of all new jobs created in the country since the 1970s, according to the U.S. Small Business Administration. Further, it seems that small businesses have been more successful in this area than big businesses, adding 8 million jobs since 1990 compared with 4 […]
“Landlords grow rich in their sleep without working, risking or economising.” ~ John Stuart Mill A majority of the investors would agree with the English philosopher, especially with the positive sentiment growing throughout the US real estate market. With a well-thought strategy, adding real estate to a retirement portfolio could beat wavering stock market returns […]
“Death and taxes and childbirth. There’s never any convenient time for any of them.” ~ Margaret Mitchell, Author of Gone With the Wind If you’re a tax-paying citizen, this quote is likely to make perfect sense to you. Nobody loves taxes, at least at a deep intrinsic level, irrespective of it being a responsibility we […]
How do you picture your retirement? In our mind’s eye, most of us probably imagine getting rid of all of our debt and being able to cover our daily expenses with passive income. A vast majority of Americans are struggling to achieve that goal, however. According to a report from the National Institute on Retirement […]
“Planning is bringing the future into the present so that you can do something about it now.” ~ Alan Lakein If you’re a real estate investor, you are quite likely to understand the importance of planning and then acting upon it. You might have funding in place for your next property or you probably have […]
“You’ve got to think about big things while you’re doing small things, so that all the small things go in the right direction.” ~ Alvin Toffler Real estate is exciting, and if it has worked out so far for you, what’s there to stop you from acquiring more properties. A lot of real estate investors […]
“In the real estate business you learn more about people, and you learn more about community issues, you learn more about life, you learn more about the impact of government, probably than any other profession that I know of.” ~ Johnny Isakson, U.S. Senator, Georgia Real estate is the most timeless asset of all the […]