Search found 461 matches

by 2beachcombers
Wed Mar 25, 2015 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: SPIA: Northwestern Mutual vs New York Life
Replies: 17
Views: 1632

Re: SPIA: Northwestern Mutual vs New York Life

Bought a SPIA for my mom 10 years ago. She was concerned she would never see all the investment returned. She is 90, drives, dances, does house work, gardens, etc. She feels like she will be getting free monthly checks for the nex10-20 yrs. Bought another SPIA for her 83 yo sister--we did this to co...
by 2beachcombers
Tue Mar 24, 2015 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Georgia Retirement Income Exclusion
Replies: 22
Views: 2739

Re: Georgia Retirement Income Exclusion

I also find international income(dividends) are also considered deductible in Ga. Looks like TT handles this income as "out of state" :D As I read the 2014 tax instructions , this would only apply if you are a non-resident, and that is the rule in most states. The only adjustment for GA r...
by 2beachcombers
Mon Mar 23, 2015 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Georgia Retirement Income Exclusion
Replies: 22
Views: 2739

Re: Georgia Retirement Income Exclusion

And this is important enough that I added it to the State Income Taxes wiki page, for the benefit of people who plan to retire in GA and Bogleheads giving advice to them. In particular, most GA investors should prefer traditional to Roth accounts, because they can deduct contributions to traditiona...
by 2beachcombers
Sat Mar 14, 2015 9:38 am
Forum: Investing - Help with Personal Investments
Topic: Advice on our investments
Replies: 4
Views: 678

Re: Advice on our investments

Hi matteob6 - Welcome to Bogleheads. Overall I think you have good direction, no major changes needed. It looks like your 457 plan is governmental (IE the state of florida); is that true? 457s are OK as long as they are governmental because they are not subject to the claims of creditors and they c...
by 2beachcombers
Thu Mar 12, 2015 8:08 am
Forum: Personal Finance (Not Investing)
Topic: [Social Security] calculation
Replies: 12
Views: 1165

Re: [Social Security] calculation

Original copy edited after BruceM PM Re: SS calculations Sent: Wed Mar 11, 2015 3:24 pm From: 2beachcombers To: BruceM [quote="BruceM"]Jerry Here is my calc based on the info you've provided. A couple of points of clarification first..... The ROC she received from the MLP is not included ...
by 2beachcombers
Thu Mar 12, 2015 8:02 am
Forum: Personal Finance (Not Investing)
Topic: [Social Security] calculation
Replies: 12
Views: 1165

Re: [Social Security] calculation

EDIT____________________________This was copied from a PM by BruceM Re: SS calculations Sent: Wed Mar 11, 2015 2:13 pm From: BruceM To: 2beachcombers Jerry Here is my calc based on the info you've provided. A couple of points of clarification first..... The ROC she received from the MLP is not inclu...
by 2beachcombers
Sun Mar 08, 2015 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: [Social Security] calculation
Replies: 12
Views: 1165

Re: [Social Security] calculation

is there anything unique about partnerships that could be showing up in the SS worksheet(can't wait to get a copy) Not that I'm aware of. To the best of my knowledge, if (101) is the amount properly showing up on line 17 of Form 1040, that's the amount that should be pulled into the worksheet. Line...
by 2beachcombers
Sun Mar 08, 2015 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: [Social Security] calculation
Replies: 12
Views: 1165

Re: [Social Security] calculation

is there anything unique about partnerships that could be showing up in the SS worksheet(can't wait to get a copy) Not that I'm aware of. To the best of my knowledge, if (101) is the amount properly showing up on line 17 of Form 1040, that's the amount that should be pulled into the worksheet. Line...
by 2beachcombers
Sun Mar 08, 2015 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: [Social Security] calculation
Replies: 12
Views: 1165

Re: [Social Security] calculation

Yes, NOLs are properly included in the calculation of how much Social Security should be included in AGI -- as they do show up as negative income on line 21 of Form 1040. There are no other types of income here (tax-exempt interest, for example)? Good point--but no Muni's or interest income. Mike--...
by 2beachcombers
Sun Mar 08, 2015 11:43 am
Forum: Personal Finance (Not Investing)
Topic: [Social Security] calculation
Replies: 12
Views: 1165

Re: SScalculation

Suggest you do a quickie check with TaxCaster. https://turbotax.intuit.com/tax-tools/calculators/taxcaster/ Did the CPA return show her owing any tax? I roughly ran her numbers through TaxCaster and got only $2000 taxable income and zero tax. (I ignored the "net op loss" number since I di...
by 2beachcombers
Sun Mar 08, 2015 10:36 am
Forum: Personal Finance (Not Investing)
Topic: [Social Security] calculation
Replies: 12
Views: 1165

[Social Security] calculation

I am helping my 83 yr old Aunt with her investments and have run across an interesting calculation for her 2013 SS taxable amount(done by CPA). Her SS=28295 and 1040 SS taxable amount was 16,546. I have run TT for her SS taxable amount, and find this should be ZERO?(correction $948) Would appreciate...
by 2beachcombers
Sun Feb 01, 2015 4:52 pm
Forum: Investing - Help with Personal Investments
Topic: Help for Lively 83 yr. old
Replies: 13
Views: 2090

Re: Help for Lively 83 yr. old

I wouldnt have a goal of maximizing tax efficiency. Id have a goal of most money or income. Just to be clear, I agree with you that the goal is not to maximize tax efficiency. I agree with the goal of having the most money (that is, most available dollars available to spend on an after-tax basis). ...
by 2beachcombers
Sun Feb 01, 2015 1:24 pm
Forum: Investing - Help with Personal Investments
Topic: Help for Lively 83 yr. old
Replies: 13
Views: 2090

Re: Help for Lively 83 yr. old

Thanks for the input. The plan is very close to what you recommend

jerry
by 2beachcombers
Sun Feb 01, 2015 11:08 am
Forum: Personal Finance (Not Investing)
Topic: POLL: How Will You Complete Your 2014 Taxes?
Replies: 69
Views: 5318

Re: POLL: How Will You Complete Your 2014 Taxes?

I am only staying with TT cause Fido gives it to me free

jerry
by 2beachcombers
Sun Feb 01, 2015 9:46 am
Forum: Investing - Help with Personal Investments
Topic: how best to withdraw CG and DIV in retirement
Replies: 7
Views: 865

Re: how best to withdraw CG and DIV in retirement

Reinvesting in a taxable account as described above can create short term cap gains. Insure your capital gains are long term and qualified dividends. In the 15% bracket, taxes=0 Also look at your taxable income on a yearly basis and see the impact on the amount of SS that will be taxed, if any. jerry
by 2beachcombers
Sat Jan 31, 2015 9:29 am
Forum: Investing - Help with Personal Investments
Topic: Foreign Tax credit and STATE Income Taxes
Replies: 34
Views: 4333

Re: Foreign Tax credit and STATE Income Taxes

Ga does not allow a credit for FT. But is doesnot count the foreign dividends as income. :happy
by 2beachcombers
Fri Jan 30, 2015 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: I just filed a Restrictive App at the SS office
Replies: 39
Views: 2680

Re: I just filed a Restrictive App at the SS office

We did the following: 1 wife(2yrs younger) lower earner--Started SS at 62 2 me at 66, filed and suspended(restricted app is new to me?) filed for wife FRA/2(collected for 2 yrs) 3 Wife at 66, filed for spousal and started my FRA/2-----I then lost my spousal on her record 4 I will start at 70 in 6 m...
by 2beachcombers
Fri Jan 30, 2015 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: I just filed a Restrictive App at the SS office
Replies: 39
Views: 2680

Re: I just filed a Restrictive App at the SS office

Could I benefit from a restrictive app? I am 65. My wife is 60. She has higher social security earnings than me. I am retired. She is still working. I have not taken social security yet. For you to be able to file for a spousal benefit (which is what a restricted application is), your wife must hav...
by 2beachcombers
Fri Jan 30, 2015 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Must you be employed to execute a restricted application?
Replies: 5
Views: 831

Re: Must you be employed to execute a restricted application

I read in some Prudential Social Security literature, that one spouse must be working at age 66 to execute a restricted application for Social Security. Can someone confirm if that is the case. There is no such requirement. You must have reached FRA in order to file a restricted application, but yo...
by 2beachcombers
Fri Jan 30, 2015 9:31 am
Forum: Personal Finance (Not Investing)
Topic: I just filed a Restrictive App at the SS office
Replies: 39
Views: 2680

Re: I just filed a Restrictive App at the SS office

Thanks for sharing. I have just started to research this so I am not clear on spousal benefits. So in this case after filing a restricted application you will draw half of your spouses benefits at FRA? In other words you collect the money while your spouse is collecting money as well? :happy :happy...
by 2beachcombers
Fri Jan 30, 2015 9:22 am
Forum: Personal Finance (Not Investing)
Topic: I just filed a Restrictive App at the SS office
Replies: 39
Views: 2680

Re: I just filed a Restrictive App at the SS office

Good plan- and she(@66) can also collect on your record We did the following: 1 wife(2yrs younger) lower earner--Started SS at 62 2 me at 66, filed and suspended(restricted app is new to me?) filed for wife FRA/2(collected for 2 yrs) 3 Wife at 66, filed for spousal and started my FRA/2-----I then lo...
by 2beachcombers
Mon Jan 26, 2015 9:11 pm
Forum: Investing - Help with Personal Investments
Topic: Help for Lively 83 yr. old
Replies: 13
Views: 2090

Re: Help for Lively 83 yr. old

Regarding taxation of annuities: With other types of investing, you can spend 100% of the original principal without having to pay tax. In other words, I don't really see the exclusion ratio as an advantage of annuities relative to other types of investing. It's what's necessary in order to put an ...
by 2beachcombers
Mon Jan 26, 2015 5:30 pm
Forum: Investing - Help with Personal Investments
Topic: Help for Lively 83 yr. old
Replies: 13
Views: 2090

Re: Help for Lively 83 yr. old

Hm, given the size of the stash, health, and other factors, maybe a single premium deferred annuity or a SPIA with a larger step up per year—in other words, loading up the back end—would be more optimal. Clearly the odds are in favor of your aunt over the actuarial tables. Even if that weren't true...
by 2beachcombers
Mon Jan 26, 2015 11:05 am
Forum: Investing - Help with Personal Investments
Topic: Help for Lively 83 yr. old
Replies: 13
Views: 2090

Re: Help for Lively 83 yr. old

Edit for new news: Talking with Annuity Companies, the exclusion amount on the SPIA is 100% for the first 10 years. Then 0% for the remaining years. This not only reduces the total taxable income, but also reduces the amount of SS tax. Table below has also been updated with these changes. BL---Than...
by 2beachcombers
Sun Jan 25, 2015 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Help for Lively 83 yr. old
Replies: 13
Views: 2090

Help for Lively 83 yr. old

My aunt has asked me for help after she learned what I did for her sister(my mom). She also is not happy with her FA. Background: My mom is now 90, I purchased an SPIA for her 11 years ago--still collecting past her annuity mortality date. And we see no reason she should not still be collecting 10 y...
by 2beachcombers
Wed Jan 21, 2015 11:32 am
Forum: Investing - Help with Personal Investments
Topic: New to Forum - keep advisor Y/N + fund help - thx!
Replies: 9
Views: 1005

Re: New to Forum - keep advisor Y/N + fund help - thx!

I'll repeat the WOW. This may be the most convoluted portfolio ever posted on the forum. There is no telling what your dollar weighted expense ratio is and I suspect neither your advisor or you know. I only checked two of your funds and the er's were in excess of 1%. The odds are, between the er's ...
by 2beachcombers
Fri Dec 12, 2014 12:58 pm
Forum: Investing - Help with Personal Investments
Topic: VSS / IDV reallocation [which one to taxable?]
Replies: 10
Views: 1328

Re: VSS / IDV reallocation [which one to taxable?]

I am working on the following: Will make changes next week ex-dividend for FSIVX 1. simplify portfolio 2. improve tax based allocation 3. reduce er 4. increase Asia/Japan components I found thru the X-ray tool that FSIVX(er=12bp) contains about 72% of IDV's(er=50) value component. Will then have FSI...
by 2beachcombers
Thu Dec 11, 2014 10:33 am
Forum: Investing - Help with Personal Investments
Topic: VSS / IDV reallocation [which one to taxable?]
Replies: 10
Views: 1328

Re: VSS / IDV reallocation [which one to taxable?]

The IDV tax rate on dividends with FTC is 10%, but with 5% yield the tax cost is 0.50. Now add the 50 bp er. for total cost. BUT--whether the allocation is in tax or tax deferred you still pay the er . EFV is a better option, with a lower er, but its performance over the past 5 yrs has been poor. m...
by 2beachcombers
Thu Dec 11, 2014 10:25 am
Forum: Investing - Help with Personal Investments
Topic: VSS / IDV reallocation [which one to taxable?]
Replies: 10
Views: 1328

Re: VSS / IDV reallocation [which one to taxable?]

Have you considered PowerShares FTSE RAFI Dev Mkts ex-US ETF (PXF) as an alternative to IDV and/or EFV? http://www.bogleheads.org/forum/viewtopic.php?t=44133 Thanks for the link. Interesting and timely thread for me. Thanks. Will do some digging tonight--off to the golf course jerry
by 2beachcombers
Wed Dec 10, 2014 10:32 pm
Forum: Investing - Help with Personal Investments
Topic: VSS / IDV reallocation [which one to taxable?]
Replies: 10
Views: 1328

Re: VSS / IDV reallocation [which one to taxable?]

I have VSS in taxable and tax-advantaged. It is my least tax-efficient taxable holding. As such, I would not add to it. Instead I add VEA and/or VEU depending on tax-loss harvesting moves. I am no longer in the accumulation phase, so I am not sure I would even add to VSS in tax-advantaged, but I th...
by 2beachcombers
Wed Dec 10, 2014 8:07 am
Forum: Investing - Help with Personal Investments
Topic: VSS / IDV reallocation [which one to taxable?]
Replies: 10
Views: 1328

Re: VSS / IDV reallocation

The tax cost is the product of the tax rate and the dividend yield. Given your estimates, the tax cost would be 0.26% for VSS, and 0.50% for IDV, so it makes more sense to hold IDV in a tax-deferred account. I would also prefer EFV (iShares MSCI EAFE Value) rather than IDV; it is less expensive (0....
by 2beachcombers
Tue Dec 09, 2014 7:58 pm
Forum: Investing - Help with Personal Investments
Topic: VSS / IDV reallocation [which one to taxable?]
Replies: 10
Views: 1328

Re: VSS / IDV reallocation [which one to taxable?]

David, I Apologize for the late reply and mucho thanks for your quick reply. You have opened my eyes to some new possibilities. i am re-examining your tax cost in the WIKI compared to my calcs and data. Your VEA and EFV recommendation give me some homework to do. As well as moving VSS to taxable. Wi...
by 2beachcombers
Mon Dec 08, 2014 10:34 am
Forum: Investing - Help with Personal Investments
Topic: VSS / IDV reallocation [which one to taxable?]
Replies: 10
Views: 1328

VSS / IDV reallocation [which one to taxable?]

Reallocating for more aggressive Roth allocations and take advantage of Tax placement. My Marginal TR = 25%. Roths are for heirs/ Balance of Trust for heirs VSS--Vanguard Int Small (5% of portfolio) IDV-- I-shares Int. LCV (7% of portfolio) Total portfolio= Bernstein's IDA with 60/40 with 50% in tax...
by 2beachcombers
Sat Nov 08, 2014 9:12 am
Forum: Investing - Theory, News & General
Topic: Poll: What is your Bond Allocation %?
Replies: 93
Views: 12714

Re: Poll: What is your Bond Allocation %?

Rather than holding 0% bonds, I have chosen to hold 10% bonds and increase the risk of the stock portion of my portfolio, overweighting small-cap, value, and emerging markets. I am 44, so I answered Age-35, but I expect to stay 10% bonds for at least ten more years. age 70, bonds 30%; Ida sliced eq...
by 2beachcombers
Fri Oct 24, 2014 12:37 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity [Roll 401(k) to IRA]
Replies: 23
Views: 3115

Re: Fidelity

definitely a nicer web site I used to agree with you on this point. However, Fidelity is rolling out a completely redesigned website - it is a total cluttered mess. I think they must have hired Yahoo's webdesigners. I actually like the new web design. It requires fewer clicks for me to find what I ...
by 2beachcombers
Tue Oct 21, 2014 4:28 pm
Forum: Investing - Theory, News & General
Topic: Does your ROTH hold risky or stable items?
Replies: 56
Views: 4048

Re: Does your ROTH hold risky or stable items?

I have risky assets only in my ROTH accounts. The reason is I expect these accounts will be part of my legacy and may have a lifetime of 50 years or more. +1 IRA= Reits and Bonds(20% of portfolio)--shorter time horrizon and plan to use IRA for LTC(no taxes on IRA with med deduction) Roths=SCV, LCV ...
by 2beachcombers
Tue Oct 21, 2014 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Queston About Funding 1st (Partial Year) of Retirement
Replies: 3
Views: 604

Re: Queston About Funding 1st (Partial Year) of Retirement

Recommend you look at a larger pie--Build a spread sheet including your plan and include SS and RMD distributions. Do you have carry over capital gain losses from previous yrs ? If so you can take $ from taxable account. Your first few years without salary and before SS and RMD are a window for Roth...
by 2beachcombers
Tue Oct 21, 2014 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: POLL: How fulfilling is your retirement?
Replies: 34
Views: 3183

Re: POLL: How fulfilling is your retirement?

Life is what you make it,whether retired or not ,it was great before retirement and it is great in retirement.I am content :happy operative word, content. Same here :happy +1 :sharebeer +2 :sharebeer 15 yrs in retirement--I planned my entire career to retire at 55; Did so at 56(due to a massive bri...
by 2beachcombers
Sat Oct 11, 2014 6:36 am
Forum: Investing - Theory, News & General
Topic: VIOV TLH [Vanguard Small-Cap 600 Value Tax Loss Harvesting]
Replies: 6
Views: 655

Re: VIOV TLH

That's one of the more controversial ones as it's the same index just different companies so if you're concerned about a wash sale then VBR would be considered by many to be less problematic but no one actually knows anything because there haven't been any specifics from the IRS and no one has foun...
by 2beachcombers
Fri Oct 10, 2014 11:26 am
Forum: Investing - Theory, News & General
Topic: VIOV TLH [Vanguard Small-Cap 600 Value Tax Loss Harvesting]
Replies: 6
Views: 655

Re: VIOV TLH

That's one of the more controversial ones as it's the same index just different companies so if you're concerned about a wash sale then VBR would be considered by many to be less problematic but no one actually knows anything because there haven't been any specifics from the IRS and no one has foun...
by 2beachcombers
Fri Oct 10, 2014 8:24 am
Forum: Investing - Theory, News & General
Topic: VIOV TLH [Vanguard Small-Cap 600 Value Tax Loss Harvesting]
Replies: 6
Views: 655

VIOV TLH [Vanguard Small-Cap 600 Value Tax Loss Harvesting]

I recently sold VIOV for TLH.(FIDO taxable account) :happy

Is IJS a valid substitute? (Also have IJS in ROTH) :confused

They both follow the S&P 600 SC . Or should I go to VBR(CRSP SV) Not concerned about the increase in dividends.



jerry
by 2beachcombers
Wed Oct 08, 2014 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Deductible Investment fees
Replies: 9
Views: 735

Re: Deductable Investment fees

abuss368 wrote:Federal taxes and other excise tax are not deductible. State & local income taxes are. I would consider reading up on "itemized deductions" to gain an overall better understanding.

Best.


Done the reading---but still searching
by 2beachcombers
Wed Oct 08, 2014 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Deductible Investment fees
Replies: 9
Views: 735

Re: Deductable Investment fees

You cannot deduct mutual fund expense ratios because you do not pay them directly. The fund pays them for you. For example, if the gross yield of a fund is 3% and the expense ratio is 1%, the fund dividend will be 2%. If the fund paid the gross yield to you at 3% and then sent you a bill for the ma...
by 2beachcombers
Wed Oct 08, 2014 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Deductible Investment fees
Replies: 9
Views: 735

Deductible Investment fees

I understand the 2% limitation and ability to deduct management fees, CPU depreciation, etc. Why not deduct expence ratios????? And quickly looking around at my air flights this year there were over 2K$ in fed taxes. Why isn't this deductable? And hotel taxes, gas taxes, etc???/ I even had a 15$ Nav...
by 2beachcombers
Fri Oct 03, 2014 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need Long Term Disability?
Replies: 9
Views: 737

Re: Do we need Long Term Disability?

You are young. The insurance co. that you pay LTC--will probably raise rates every few years and may not even be in existence when you need it.

Recommend you build up your 401. My 401, now an IRA, is planned for LTC. Note that is also a great tax deduction if you use it for medical care.

jerry
by 2beachcombers
Wed Oct 01, 2014 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: POLL: When I gift/will shares to my relatives, I expect ...
Replies: 24
Views: 1906

Re: POLL: When I gift/will shares to my relatives, I expect

2beachcombers wrote:they can do what they want---BUT I have educated them to only take the minimum required distributions


This is an edit to my first response--I checked the "other box" as there are sufficient $$ in the roths to carry several generations.
by 2beachcombers
Tue Sep 30, 2014 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: POLL: When I gift/will shares to my relatives, I expect ...
Replies: 24
Views: 1906

Re: POLL: When I gift/will shares to my relatives, I expect

they can do what they want---BUT I have educated them to only take the minimum required distributions
by 2beachcombers
Fri Sep 26, 2014 3:54 pm
Forum: Investing - Theory, News & General
Topic: What's in your tax advantage accounts?
Replies: 56
Views: 5699

Re: What's in your tax advantage accounts?

RIRA(35%) = LV, Int LV, int SV
Taxable(35%) = TSM, intTSM,SV, Emerging, Ibonds, Munis, + 5% cash
above portfolio to go to heirs

IRA(25%) = REIT. Bonds - RMD starts next yr.

Jerry
by 2beachcombers
Tue Sep 23, 2014 1:05 pm
Forum: Investing - Theory, News & General
Topic: Extended market index fund in a taxable account?
Replies: 11
Views: 1000

Re: Extended market index fund in a taxable account?

be careful of nonqualified dividends on extended market--I have put this in my Roth

jerry

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