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All Forum Posts by: Bruce D. Kowal

Bruce D. Kowal has started 34 posts and replied 265 times.

Post: Anderson Advisors - C-Corp

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

Wait until you have completed the Plan. But here's what I don't understand:  You have disposable income to buy real estate, yet are claiming relief from creditors.   If you can do that, you should write a book.

Post: Hi, I’m looking for a CPA that’s familiar with solo 401 (k)

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184
Does a Solo 401k Have the Same UBTI Rules as a Self Directed IRA LLC?Quote from @Alicia Prokos:

Hi,

I have set up a Solo 401k and am in the process of funding it with enough money to make my first investment. I might disagree about the simplicity. While you may not need a CPA, I think it would be a wise move to go to one of the financial custodial companies specializing in Solo 401ks to help you set it up, or at least educate yourself about these types of accounts before you open one. In my mind, there are a lot of rules that could easily trip you up and disqualify your plan/ account. I am a customer of Quest IRA, but there are other ones such as The Nabers Group, Sense Financial, and My Solo 401k that I am familiar with (but unaffiliated).

Agree 100%.  Consult someone who does this full time.  Here is an article which outlines some of the traps: Does a Solo 401k Have the Same UBTI Rules as a Self Directed IRA LLC

Post: Connecticut (CT) Mortgage Lender/Broker Referral

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

Join Meetup, and use their resources

Post: Question About Building Relationships with Banks as a Realtor

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

Join a local Meetup.

Post: CUSTOMERS RELATIONSHIP MANAGEMENT

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

I use KEAP.

Post: Where can I find phone numbers to cold call?

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

Read everything written and listen to the podcasts of Dean Jackson:  https://deanjackson.com

Post: Real estate networking in a small town

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

Try the local Rotary Club?

Post: K1 challenges on syndication

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

Consult a CPA who knows what he is doing and file this:  Notice of Inconsistent Treatment I have done this several times for investors who got screwed by the GP.  It works.  Send a paper copy of the return, not efile.  And mail the return on last day of extended due date.  Attach this form as the LAST page of the paper return.

Post: BRRRR: How to Calculate Total Cash Invested?

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

Take out the loan proceeds and repayments.  They distort the calculation.  Only the interest payments should be recorded.

Post: Loan options with no job, but cash on hand

Bruce D. Kowal
Posted
  • Metro NY + New Bedford
  • Posts 268
  • Votes 184

So you sold your crypto at the top in 2021?   You should write a book and get a gig on financial shows.   I doubt many others did so well.  So, now you have no stress, and are looking to enter a very stressful line of business.  I don't know how old you are, but if it were me, I would get into the medical care field as some kind of licensed professional.  Otherwise, you run the risk of making bad investments and losing too much.  Or place your money with a good wealth manager, such as Morgan Stanley, and get some income now.  We should have have such choices.  Oh, one more thing, move to a State with zero income tax:  Florida, New Hampshire etc.