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Re: is this ( simple) retirement calculation correct?

#cruncher ...
Awesome spreadsheet ...
Love it for its simplicity :thumbsup
by Ace1
Sat Jul 26, 2014 9:08 am
 
Forum: Investing - Help with Personal Investments
Topic: is this ( simple) retirement calculation correct?
Replies: 11
Views: 1311

Re: Turbo Tax Accuracy Guarantee Experience

Would you divulge which state ?
by Ace1
Mon Apr 21, 2014 12:03 pm
 
Forum: Personal Consumer Issues
Topic: Turbo Tax Accuracy Guarantee Experience
Replies: 4
Views: 729

Re: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST

My guess is 2050.
The mid term election in Nov will have a lot to say about where things end up IMO.
by Ace1
Wed Jan 01, 2014 11:43 pm
 
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST
Replies: 537
Views: 15386

Re: Home office printer

Had an old HP 4L for over 20 years ... A turtle but a tank. Finally had to replace it and decided to switch to a Brother based on similar commentary on this forum. Acquired the 5470DW this past January on sale about $200. I am quite happy with it so far, it is VERY fast, and love the wireless printi...
by Ace1
Mon Dec 02, 2013 1:22 pm
 
Forum: Personal Consumer Issues
Topic: Home office printer
Replies: 16
Views: 991

Re: 2009 Schedule D-1

Description. Sold date sold amt. acq date cost amt. gain/loss 2500s Zale corp 6/24/09 $8255. 6/22/09 $7748.17. $507 1000s Zale corp 6/22/09 $3067. 6/22/09 $3100.83. ($34) Curious why you would buy and sell on the same day ..... And at a loss ? SALE DATE SALE AMOUNT STOCK QTY 6/24/2009 $8,255.00 ZALE...
by Ace1
Thu Sep 05, 2013 12:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2009 Schedule D-1
Replies: 9
Views: 675

Re: High handicap golf nut

How far you hit it doesn't matter ... Where (direction) does ! The game is played from 150 yards and in. Practice on the short game 150 yards in produces the best chances for scoring improvement. A 6 inch putt counts the same as a 300 yard drive. A "perfect" par round of golf is typically ...
by Ace1
Sun Aug 04, 2013 10:54 pm
 
Forum: Personal Consumer Issues
Topic: High handicap golf nut
Replies: 18
Views: 1765

Re: Tax Harvest - Replacement or Wait 60 days.

From a tax perspective, the 60 days is the 30 days BEFORE and 30 days AFTER part of the wash sale rule.
The " re- purchase " can be executed on the 31st day after the sale.
by Ace1
Tue Jun 25, 2013 6:45 am
 
Forum: Investing - Help with Personal Investments
Topic: Tax Harvest - Replacement or Wait 60 days.
Replies: 11
Views: 885

Re: Tax Deductions on Rental Property

Regarding depreciation, you are correct in that only the building should be depreciated ( land does not usually wear out), however the first year the asset is placed in service, it is a different percentage based on month placed in service. All years thereafter it is 27 1/2 years life calculation. T...
by Ace1
Fri Mar 29, 2013 12:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Deductions on Rental Property
Replies: 11
Views: 834

Re: Vanguard Prime Money Market Fund (VMMXX) Question?

Exactly ... I believe that's what I said with different numbers.
My point was the earnings, as little as they are the past few years, have covered the ER.
The op seemed to imply he would see a deduction of his principal.
by Ace1
Mon Mar 11, 2013 5:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard Prime Money Market Fund (VMMXX) Question?
Replies: 18
Views: 3389

Re: Vanguard Prime Money Market Fund (VMMXX) Question?

I'm pretty sure that the er is deducted from the earnings, ie managers earn .25, deduct the .16 er,
and credit the account with what's left, in this example .09.
I have had prime money fund since the 90's and I believe I have NEVER seen a deduction.
by Ace1
Mon Mar 11, 2013 5:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Vanguard Prime Money Market Fund (VMMXX) Question?
Replies: 18
Views: 3389

Re: 1099 estimates

TT has a form called " what if worksheet". There is a check box to use next year (2013) rates and it starts with 2012 data from your return. You can modify / add data as needed. Periodically you can review your 1099 income and adjust either your withholding or make estimated payments. And ...
by Ace1
Sat Mar 09, 2013 10:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1099 estimates
Replies: 2
Views: 268

Re: S Corp W2 + Full time W2 : SS Tax overpayment

Corporate payments are required and they are usually not refundable. You already paid yourself, deposited the federal taxes and filed the 941. Don't think there is anyway you can recharacterize the wages you paid yourself. The "excess" FICA will / should be on your 1040 on line 69 and are ...
by Ace1
Sun Mar 03, 2013 11:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: S Corp W2 + Full time W2 : SS Tax overpayment
Replies: 2
Views: 270

Re: Cash out or annual payments...........kind of long

Sl The net present value of this series of cash flows depends on the discount rate. If one uses 2%, today's value would be over $ 760,000 to equal the over 1 million dollars you are scheduled to receive. To get a present value around $320,0000 one would use an interest rate of 10%. The lawyers appea...
by Ace1
Sat Mar 02, 2013 7:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Cash out or annual payments...........kind of long
Replies: 9
Views: 864

Re: Requesting help with a Federal Withholding question

Increasing the contribution to the 401k in the paycheck reduces the amount of FIT withholding accordingly. The only solution is either increase withholding regardless of what is done with the 401k or make quarterly estimated payments. Since the incremental investment income is causing the tax shortf...
by Ace1
Thu Feb 28, 2013 5:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Requesting help with a Federal Withholding question
Replies: 6
Views: 436

Re: Income tax withheld for wrong state, how to file?

HouseStark I think you missed the point of my post. I don't believe it is possible for the sum of the two state incomes on the w2 to exceed the total income in your example. In your example the w2 would show $65000 of total state income .... not possible if the total earned was only $60000. There is...
by Ace1
Thu Feb 07, 2013 11:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Income tax withheld for wrong state, how to file?
Replies: 20
Views: 1900

Re: Income tax withheld for wrong state, how to file?

I don't think it is possible for someone to be in two states at the same time.
In the Sven example, the $5k was earned in IL, not in MN.
The MN income earned in that state is $55k.
If the employer issued an incorrect w2, the employer needs to issue a corrected w2 (w2c).
by Ace1
Wed Feb 06, 2013 11:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Income tax withheld for wrong state, how to file?
Replies: 20
Views: 1900

Re: W2 question

Pretax medical deductions are referred to as section 125 deductions. If your plan literature includes the dental coverage as part of the medical plan, it would seem the monthly premiums for dental should be excluded from your taxable income, presuming your entire plan is qualified as a section 125 p...
by Ace1
Sat Jan 26, 2013 11:24 am
 
Forum: Personal Finance (Not Investing)
Topic: W2 question
Replies: 25
Views: 1816

Re: Mutual Fund Sale, tax question

You appear to have two questions.... 1) First you must determine if you have a gain. The fund record keeper should provide the average cost of the shares you sold or the actual cost of the shares/lot you sold. The difference between the value for the shares sold and the cost of the shares sold is yo...
by Ace1
Tue Jan 15, 2013 1:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Mutual Fund Sale, tax question
Replies: 8
Views: 381

Re: Filing jointly on taxes

Your federal filing status has nothing to do with home ownership.
by Ace1
Sun Jan 13, 2013 6:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Filing jointly on taxes
Replies: 19
Views: 926

Re: Getting Canadian $

You will get the best exchange rate at a bank in Canada, especially for that small amount. The rate is usually a couple cents less than the financial rate from Bloomberg or what you see on yahoo finance. The casino is another cent less. The only place Ive found that is better is the duty free shop i...
by Ace1
Fri Jan 11, 2013 2:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Getting Canadian $
Replies: 30
Views: 1193

Re: salary allocation advice

Caution .... If you take out a 401 k loan and subsequently leave employment with that employer for any reason ( quit, terminated etc.), the loan must be repaid fully or it is deemed to be a distribution, and subject to the rules for that, ie taxable and potentially subject to the early distribution ...
by Ace1
Tue Jan 08, 2013 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: salary allocation advice
Replies: 12
Views: 1322

Re: Any change to your 2013 paycheck?

On 12/31 the IRS released the withholding tables based on the premise Congress would not act in "time", and the tables reflect the end of the Bush tax cuts. Since the president signed the Congress new bill on 1/2, the IRS released the "new" withholding tables that reflect the new...
by Ace1
Fri Jan 04, 2013 12:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Any change to your 2013 paycheck?
Replies: 68
Views: 5018

Re: I owe my wife $5,000.00

"Load and unload dishwasher for a year and call it even."


+1 ...... Excellent !
by Ace1
Tue Jan 01, 2013 10:54 am
 
Forum: Investing - Help with Personal Investments
Topic: I owe my wife $5,000.00
Replies: 10
Views: 2557

Re: Solo 401k

Thanks again to all who have responded ... sincerely appreciate your thoughful and informative responses. To answer a couple points .... Yes I am self employed - have two unrelated S corps - no other employees, and many years away from the over 50 catchup opportunity. My thinking regarding the in se...
by Ace1
Thu Dec 27, 2012 2:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo 401k
Replies: 9
Views: 713

Solo 401k

I have 2 solo 401k questions ...
1) What is the maximum amount allowed for company contribution/match to a solo401k for 2012 ?
2) Does Vanguard permit in service withdrawals rolled out of a solo401k (at Vanguard) and
into a (rollover) IRA (in Vanguard brokerage service) ?

Thanks for your responses !
by Ace1
Wed Dec 26, 2012 10:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo 401k
Replies: 9
Views: 713

Re: 1040X forms to file

It's likely the other schedules printed because something on them changed. For example if your AGI changed it would change the threshold amounts for medical and miscellaneous. That may not have had an impact on your total deductions. If it just this type of cosmetic change, IRS will not want the sch...
by Ace1
Sun Dec 23, 2012 6:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: 1040X forms to file
Replies: 5
Views: 544

Re: 12 year old dryer is squeeking loudly. What to do?

Taylor Although my make of dryer is a Maytag also about 10-12 years old, mine developed a squeal which disappeared as the dryer warmed up. Ultimate cause is the rollers, the "wheels" the drum sits/rolls on. I am mostly all thumbs for stuff like this, but tackled it anyway. I replaced the i...
by Ace1
Fri Dec 14, 2012 4:29 pm
 
Forum: Personal Consumer Issues
Topic: 12 year old dryer is squeeking loudly. What to do?
Replies: 35
Views: 2872

Re: GasBuddy.com

I have used Gas Buddy, but did not know about the points ... Will check into that. I have used the msn auto gas prices site/map more however. The interactive map allows the user to drag the map and the prices move accordingly. This is most helpful if you are traveling some distance and wish to plan ...
by Ace1
Mon Dec 10, 2012 6:33 pm
 
Forum: Personal Consumer Issues
Topic: GasBuddy.com
Replies: 26
Views: 7271

Re: Potential windfall in 2013. Anything to prepare for now?

Losses on personal assets ( residence for example) are generally NOT deductible.
by Ace1
Thu Nov 29, 2012 11:31 am
 
Forum: Investing - Help with Personal Investments
Topic: Potential windfall in 2013. Anything to prepare for now?
Replies: 7
Views: 859

Re: Payroll tax question

Each employer should stop withholding when you reach the limit. If they did not, they would wind up overpaying the employers share. Every taxpayer that as a result of either one employer NOT stopping the withholding or having multiple employers and winds up with excess social security tax withheld c...
by Ace1
Wed Nov 28, 2012 9:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Payroll tax question
Replies: 11
Views: 763

Re: What to report as income to the IRS?

On schedule C or C-EZ you will report
$1000 of sales (or gross receipts), expenses of $100, and a business profit
of $900, which is both taxable income and also subject to self employment tax (FICA).
As live soft indicates, you need to review the instructions for schedule C.
by Ace1
Sun Nov 25, 2012 11:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: What to report as income to the IRS?
Replies: 6
Views: 604

Re: SS Strategy for couple

Unless OP mistyped, SHE is older than HE by 4 years.
She will be 71 when he hits FRA.
I will defer to other experts for best strategy.
by Ace1
Sun Nov 11, 2012 8:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS Strategy for couple
Replies: 19
Views: 1262

Re: Figuring taxable income when SS benefits are taxable.

I suggest you build a little spreadsheet that mimics the worksheet for determining taxable SS. This way you can experiment with the numbers plus learn how the formula operates. The bigger picture is revealed if you use the worksheet planner in turbotax or similar what- if stuff in other tax software...
by Ace1
Thu Oct 04, 2012 9:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Figuring taxable income when SS benefits are taxable.
Replies: 13
Views: 880

Re: What to do? Neighbor tree leaning over property line

It would seem your best course of action would be to engage the city attorney for your town to inquire what your rights are regarding the infringement onto your property from this unwanted growth and the right you have to the enjoyment of your property. Since it also seems your neighbor is unwilling...
by Ace1
Wed Oct 03, 2012 11:29 am
 
Forum: Personal Consumer Issues
Topic: What to do? Neighbor tree leaning over property line
Replies: 62
Views: 5682

Re: Mortgage rates and tax benefits of second house?

I do not believe there is any mileage or distance requirement by the IRS for deductibility of mortgage interest or real estate taxes on a second home. You could own the home next door for that matter. How you intend to use it likely dictates the financing arrangements. Once it becomes rental propert...
by Ace1
Sun Sep 30, 2012 10:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage rates and tax benefits of second house?
Replies: 8
Views: 872

Re: self-employed person pay payroll taxes ?

Typically income tax estimates are remitted "quarterly" ..... April, June, Sept, Jan. Self employed Payroll and other taxes that wind up on the 1040 can be lumped together with the Income tax estimates and remitted together .. IRS doesn't make a distinction. However, you may wind up in a s...
by Ace1
Fri Sep 07, 2012 8:01 am
 
Forum: Personal Finance (Not Investing)
Topic: self-employed person pay payroll taxes ?
Replies: 8
Views: 1070

Re: Giving an Employee a gift??? Tax issue

Just thinking "out loud" 1099 -misc forms are not required for misc payments under $600. From the 1099-misc IRS instructions ... • At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments, crop insurance pr...
by Ace1
Wed Sep 05, 2012 11:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Giving an Employee a gift??? Tax issue
Replies: 27
Views: 1918

Re: Dad gave me E savings bond from 1978

I believe the 1099 will be issued for the year the bond was presented /cashed in. The bond may have matured and stopped earning interest in 2008, but since the owner did not actually receive the interest until 2012, that's the year it should be reported on the 1099 and subsequently reported on the t...
by Ace1
Fri Aug 24, 2012 10:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Dad gave me E savings bond from 1978
Replies: 28
Views: 2705

Re: minor account fraud?

I agree with damjam. I would get a credit report yesterday!
And contacting all your relatives whose names popped up in your PA search,
might be a good idea too.
by Ace1
Wed Aug 22, 2012 4:49 pm
 
Forum: Investing - Theory, News & General
Topic: minor account fraud?
Replies: 15
Views: 1618

Re: minor account fraud?

I think letting your uncle have your social security number and your name on an account has the "potential" to invite lots of problems. I think it's long past time to start asking your uncle many questions !!
by Ace1
Tue Aug 21, 2012 8:01 pm
 
Forum: Investing - Theory, News & General
Topic: minor account fraud?
Replies: 15
Views: 1618

Re: Social Security at 62 vs 66

Some time ago someone on this board suggested a visit to the website Socialsecuritychoices.com If you take a couple minutes or so to answer a couple questions, you get an excellent report that identifies the best mathematical time to take SS plus the costs (less SS) of doing something else. IF you w...
by Ace1
Fri Aug 17, 2012 9:44 pm
 
Forum: Investing - Theory, News & General
Topic: Social Security at 62 vs 66
Replies: 32
Views: 4903

Re: putting money aside for next year taxes

Underwithholding during the year can be used as a mechanism to hold your money as long as possible, however the earlier post that indicates you MUST have either 90% of this years total tax liability or 100 or 110% of last years total tax paid in by year end is correct. Most people approach this by p...
by Ace1
Wed Aug 15, 2012 9:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: putting money aside for next year taxes
Replies: 23
Views: 2718

Re: Tax Question - Capital Gains

Bob .... Very good post however !
by Ace1
Wed Aug 15, 2012 11:22 am
 
Forum: Investing - Help with Personal Investments
Topic: Tax Question - Capital Gains
Replies: 24
Views: 4834

Re: Tax Question - Capital Gains

Bob nmn....
Check your math. ... I think 56.5. less 1 less 2 less 17. = 36.5
by Ace1
Wed Aug 15, 2012 10:59 am
 
Forum: Investing - Help with Personal Investments
Topic: Tax Question - Capital Gains
Replies: 24
Views: 4834

Re: Advice on Refinancing Church Mortgage

I have recent experience for my church refinancing our mortgage with the fraternal organization that held our mortgage. My experience is most banks shy away from church mortgages because of the bad press that occurs IF a foreclosure becomes necessary. The closing /refi cost was 1% of the balance, in...
by Ace1
Tue Aug 14, 2012 9:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice on Refinancing Church Mortgage
Replies: 11
Views: 985

Re: Quick question on tax

I think most responses have missed the point on the medical. If the plan where he is employed is eligible for the section 125 medical,the premiums are deducted from gross pay PRE tax. Therefore gross less 401k less medical equals taxable pay on the w-2. Taxable wages on the w-2 on to the 1040 less i...
by Ace1
Fri Aug 10, 2012 1:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Quick question on tax
Replies: 13
Views: 964

Re: Recommendations for brokerage firms

It says 25 trades in each calendar year, not lifetime
by Ace1
Fri Aug 03, 2012 3:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Recommendations for brokerage firms
Replies: 15
Views: 1250

Re: Recommendations for brokerage firms

Investor I used to have an account at Scottrade -trades were $7, downside is they did not allow or have drips. Switched to TD Ameritrade -trades are $9, took advantage of discounts for some of the educational stuff, which is significant. Big plus is TD does allow drips, which I prefer to take advant...
by Ace1
Fri Aug 03, 2012 2:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Recommendations for brokerage firms
Replies: 15
Views: 1250

The NC state tax return D400 worksheet spells out the need to list the various types of income and how much is "earned" or "received" in NC. The YTD wage statement at the time of the move is acceptable proof of how much was earned up to the move date. Other items such as dividend...
by Ace1
Mon Apr 25, 2011 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: State tax proration rules for part-year residents
Replies: 26
Views: 3071

Start with the last tax return you can find.
Should indicate who any payors of int / divs were.
If the individual was at all organized, it is also possible
they may have kept IRA statements with the tax data.
Seems curious the banks records are limited.
by Ace1
Sun Apr 24, 2011 9:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to find accounts that somebody owns?
Replies: 7
Views: 932
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