Search found 256 matches

by Gemini
Sun Jun 28, 2015 5:40 pm
Forum: Personal Consumer Issues
Topic: LastPass.com Breach
Replies: 153
Views: 12621

Re: LastPass.com Breach

- How does LastPass sync all of the accounts? Via Dropbox? Is that safe? - it seems the 2FA is only available on LastPass on the premium version. How does 2FA actually work? I know how it works for gmail.com, but how would it work for let's say bogleheads.org password that is stored with LastPass? -...
by Gemini
Fri Jun 19, 2015 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Income tax liability safe harbors

A follow on to my most recent post. I didn't want to confuse the issues. There are income tax liability safe harbors you could take advantage of to reduce the need for additional tax payments: ⋅ Owe less than $1000. ⋅ Owe less than 10% of your tax liability (or to use the IRS te...
by Gemini
Wed Jun 17, 2015 11:07 pm
Forum: Personal Consumer Issues
Topic: LastPass.com Breach
Replies: 153
Views: 12621

Re: LastPass.com Breach

so....what should I use?! :confused
by Gemini
Wed Jun 17, 2015 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs other

In 2015 it is 0.5%/month. 0.5% per month on the money owed? So assume I make 100K (which ain't happening FYI haha) for the year and I owe 30K in taxes at the end of the fiscal year. I would get a 0.5% penalty x 12 on the 30k? So $150/month x 12 = 1800 in penalty for the year? I would add the 1800 t...
by Gemini
Wed Jun 17, 2015 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs other

In 2015 it is 0.5%/month. 0.5% per month on the money owed? So assume I make 100K (which ain't happening FYI haha) for the year and I owe 30K in taxes at the end of the fiscal year. I would get a 0.5% penalty x 12 on the 30k? So $150/month x 12 = 1800 in penalty for the year? I would add the 1800 t...
by Gemini
Wed Jun 17, 2015 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs other

Spirit Rider wrote:
Gemini wrote:Is there a penalty if I pay nothing now and choose to just pay at the end of the fiscal year? I realize I will owe money, but not sure if I will get penalized for being "late" per say

Yes there will be a penalty.


A huge penalty?
by Gemini
Wed Jun 17, 2015 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup
Replies: 123
Views: 10509

Re: Prenup

Well how can you possibly address everything in a prenup? I think at some point you just have to have faith when you say "I do" or maybe I am just young and naive :sharebeer
by Gemini
Wed Jun 17, 2015 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup
Replies: 123
Views: 10509

Re: Prenup

Thanks for chiming in everyone.

Don't think the prenup is happening, but this was a great discussion.
by Gemini
Wed Jun 17, 2015 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Travel insurance - worth it?
Replies: 44
Views: 3557

Re: Travel insurance - worth it?

Thanks everyone for chiming in.

I will be contacting Steve the insurer fella and also doing some research before taking the plunge.

Regardless of where I choose to purchase, it appears a good insurance plan will cost around 1K for this trip
by Gemini
Wed Jun 17, 2015 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs other

Is there a penalty if I pay nothing now and choose to just pay at the end of the fiscal year? I realize I will owe money, but not sure if I will get penalized for being "late" per say
by Gemini
Wed Jun 17, 2015 4:13 pm
Forum: Personal Consumer Issues
Topic: LastPass.com Breach
Replies: 153
Views: 12621

Re: LastPass.com Breach

Is there any conclusion that can be sought from all of this discussion?
by Gemini
Tue Jun 16, 2015 4:04 pm
Forum: Personal Consumer Issues
Topic: LastPass.com Breach
Replies: 153
Views: 12621

Re: LastPass.com Breach

So...what is the conclusion? Which one to use and why?
by Gemini
Tue Jun 16, 2015 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Travel insurance - worth it?
Replies: 44
Views: 3557

Re: Travel insurance - worth it?

Super confusing as so much info. I don't think I can decipher how ALL of this works and the little nuances :shock: Yes, at first it can be. And "the fine print" can really matter. But call Steve (or any of his associates) for more explanation. That's their job, after all. We found them re...
by Gemini
Tue Jun 16, 2015 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Travel insurance - worth it?
Replies: 44
Views: 3557

Re: Travel insurance - worth it?

Super confusing as so much info. I don't think I can decipher how ALL of this works and the little nuances :shock:
by Gemini
Tue Jun 16, 2015 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Travel insurance - worth it?
Replies: 44
Views: 3557

Re: Travel insurance - worth it?

Called Steve.

He will sending an email with an insurance that is $817 for the both of us. Steve recommends this particular insurance. Will post details.

I will def have them get the insurance - just a matter of what and from where.
by Gemini
Tue Jun 16, 2015 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Travel insurance - worth it?
Replies: 44
Views: 3557

Re: Travel insurance - worth it?

Just checked insuremytrip.com and the prices range from $16 to $1600. If I check off cancel for any reason and evacuation tabs on the left, cheapest is $669. $669 gets the following from AXA Assistance USA Gold: TRIP PROTECTION Trip Cancellation $10,000 Trip Interruption $15,000 Financial Default — ...
by Gemini
Tue Jun 16, 2015 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Travel insurance - worth it?
Replies: 44
Views: 3557

Re: Travel insurance - worth it?

thank you all for the input! re trip cost - their trip is about 20K or so and is actually a honeymoon. I am not sure if 1K is adequate or too much for a 20K trip cost. I will have them check out insuremytrip.com and compare pricing. It appears that the majority of folk are recommending med or med-ev...
by Gemini
Mon Jun 15, 2015 11:08 pm
Forum: Personal Consumer Issues
Topic: LastPass.com Breach
Replies: 153
Views: 12621

Re: LastPass.com Breach

Ahhhhhh I was just about to buy this. Man is there anything out there that is both safe AND convenient? I currently have Keepass on my home computer and on a jump drive. I take the jump drive with me anywhere I need to access this information. I am okay with that, but it is kind of cumbersome. I tri...
by Gemini
Mon Jun 15, 2015 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Travel insurance - worth it?
Replies: 44
Views: 3557

Re: Travel insurance - worth it?

Good points. Thanks.

David Jay - So are you saying worth it or no? :confused

sawhorse - They don't have medicare as they are young, but yes I will have them check.
by Gemini
Mon Jun 15, 2015 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Unwise to keep funds at one bank?
Replies: 32
Views: 3839

Re: Unwise to keep funds at one bank?

Good discussion. I currently have USAA, and TD bank.

How do you all move money around between different banks and decide on what/how much to keep in each? Or are you all putting some money like 50K in each bank and letting it sit there?
by Gemini
Mon Jun 15, 2015 10:48 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs other

An update - I ended up opening a LLC. The process was pretty streamlined and I was able to do everything online. I considered Legal Zoom, but I read some horror stories online that turned me off. Thank you all for your help. Re: taxes - how and when do I pay taxes on this earned income? Should I hir...
by Gemini
Mon Jun 15, 2015 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on Disability Insurance
Replies: 7
Views: 760

Re: Need advice on Disability Insurance

You def need disability insurance. There are many variables in deciding which policy fits you and yours best. IMO, you need to find a DI agent you trust and have him/her guide you through the process. This is the route I used after obviously researching till my wits end :D
by Gemini
Mon Jun 15, 2015 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: Travel insurance - worth it?
Replies: 44
Views: 3557

Travel insurance - worth it?

Family members are planning an expensive trip out of the USA for 2 weeks. The travel agent is highly suggesting that they purchase travel insurance. Cost of the insurance is close to $1k and details of the insurance:

Image





Thoughts? Worth it?
by Gemini
Sun Apr 12, 2015 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

I am going to do some research on solo 401K and try to figure out which one to go with: vanguard vs fidelity A data point for you: I am not sure if fidelity is better, but have a vanguard i401k and am not impressed with the web interface. I'm fine with my Vanguard 401(k). Give me admiral shares and...
by Gemini
Sat Apr 11, 2015 11:59 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

I am going to do some research on solo 401K and try to figure out which one to go with: vanguard vs fidelity A data point for you: I am not sure if fidelity is better, but have a vanguard i401k and am not impressed with the web interface. appreciate your input. can you clarify a bit further? i have...
by Gemini
Sat Apr 11, 2015 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup
Replies: 123
Views: 10509

Re: Prenup

a robust discussion! i like it! thanks for the input everyone. it seems most folk don't think the prenup makes sense in this situation. i am not sure if someone has a definitive answer, but the situation that comes to mind is what if one of the docs stops working after kids come into the picture. as...
by Gemini
Thu Apr 09, 2015 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of College & Weighing the Merits of Top Schools
Replies: 304
Views: 19013

Re: Cost of College & Weighing the Merits of Top Schools

what do your kids want? i think you should lay out the cards on the table and explain both ends of the spectrum. coming from a medical field, i can attest that going to college in podunk u vs harrrvvard would likely not yield similar results assuming the kid performs equally at both. however, tankin...
by Gemini
Thu Apr 09, 2015 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup
Replies: 123
Views: 10509

Re: Prenup

There are plenty of existing threads on the subject, and the community is divided on the subject. I think a little over half the people here are in favour of prenups for a number of reasons. The other half are against prenups for sentimental / ideological reasons. If nothing else, going through the...
by Gemini
Thu Apr 09, 2015 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup
Replies: 123
Views: 10509

Re: Prenup

Leemiller wrote:My husband and I are both attorneys so we didn't bother with one for similar reasons to the above when we got married.


I figured so. From my simplified understanding of a prenup, it protects the assets one brings in prior to being married...
by Gemini
Thu Apr 09, 2015 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Prenup
Replies: 123
Views: 10509

Prenup

A close friend of mine is getting married. He is a physician and so is his future wife to be. My friend asked if he should discuss a prenup with his wife. I said I would ask some smart people and get back to him. What do you guys think? They both don't have net positive $, lots of loans, and really ...
by Gemini
Thu Apr 09, 2015 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

I am going to do some research on solo 401K and try to figure out which one to go with: vanguard vs fidelity
by Gemini
Sat Jan 31, 2015 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Free business checking with mobile deposit
Replies: 10
Views: 614

Re: Credit Union

My credit union since 1976. http://www.DCU.org Came across a credit union : https://www.affinityfcu.com/business/business-checking/index.aspx They may do it. I guess I will call. Is one credit union "better" than another in any aspect? Edit - came across the eligibility - All of the owner...
by Gemini
Sat Jan 31, 2015 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Free business checking with mobile deposit
Replies: 10
Views: 614

Re: Free business checking with mobile deposit

Although not really set up well for business use, I use a Vanguard money market fund for my business account. Advantages: 1) They helped me set up for easy transfers from my business account to my personal account (different tax ID so difficult at most banks). 2) They pay interest in the form of di...
by Gemini
Sat Jan 31, 2015 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Free business checking with mobile deposit
Replies: 10
Views: 614

Free business checking with mobile deposit

Can anyone recommend a totally free biz checking account with the ability to deposit checks via a cell phone?

I looked at some banks and didn't find any that met the criteria. I am okay with credit unions granted I am eligible for membership.
by Gemini
Sun Jan 25, 2015 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Explain me some tax law!
Replies: 16
Views: 2288

Re: Explain me some tax law!

K 1 does imply ownership, and the way I understood it was that you only pay taxes on your "taxable income" as opposed to your actual income received from the dividends. Assuming minimal ownership, the taxes will be minimal given that the company shows marginal profit. One's taxable income ...
by Gemini
Fri Jan 23, 2015 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

Essentially the same advice I got from my CPA except the part about 401K vs SEP. I was thinking of solo 401K because if I have SEP then I may not be able to do the backdoor Roth. But then I read about the mega backdoor Roth, so now that has me thinking to go with the SEP Hope this helps. The solo 4...
by Gemini
Fri Jan 23, 2015 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

SMLLC should use the SSN of the member for the 1099 reporting. Once again, I don't believe this is correct. The owner can apply for an EIN (mapped to the owner's name not the LLC's). They can then use that EIN on W9s instead of an SSN to to help protect against identity theft. Ditto. This is how I ...
by Gemini
Fri Jan 23, 2015 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

Is that true? Single member LLC uses SS# over TIN? What's true is that you can't use an LLC's EIN/TIN on a W9 if the LLC doesn't file a tax return as its own entity. I don't see why you can't complete the SS-4 without checking the 'This EIN is for an LLC'. Basically, as far as the IRS is concerned,...
by Gemini
Fri Jan 23, 2015 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

A sole proprietor can get an EIN, but they must still fill out the W-9 with their SSN. I don't think that's correct. My reading of the instructions is that the IRS prefers sole proprietors use their SSN on a W9, but doesn't require it. Is there another reg that says sole proprietors MUST use their ...
by Gemini
Fri Jan 23, 2015 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

Get the LLC. Its maybe $100 to register it with your Secretary of State or Corporation Commission. Setup bank account with LLC name and deposit all checks to that bank account. Run all expenses associated with business through that bank account (do not commingle your money). Pay yourself a month dr...
by Gemini
Fri Jan 23, 2015 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

Personally, I'd suggest doing the DBA yourself. It's generally pretty simple and involving a 3rd party could make things MORE complicated. Depending on how picky your state is with naming rules, you may have to do a few rounds with them to get a name you both agree on. Some states won't let you use...
by Gemini
Fri Jan 23, 2015 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

On legal zoom, there is the option of them getting EIN for you whether you do dBA or LLC. It's 79 extra but it would essentially answer my question of what to get first without sweating it out and botching it.
by Gemini
Fri Jan 23, 2015 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

what did the cpa say? Pretty much that if there is no potential risk of a lawsuit, then no need to really bother with LLC, unless you want to. DBA or LLC would suffice and are super easy to set up. Def said to stay away from any corp. Also asked about quarterly tax filings and he said one can estim...
by Gemini
Fri Jan 23, 2015 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

...3 once I obtain TIN. do I still have to fill out my SS# on the box provided on W9? 3 Yes, The main reasons for obtaining an EIN even though you have no statutory employees is that you need it for the Solo 401k from most providers and to open business bank accounts I would have guessed that the a...
by Gemini
Fri Jan 23, 2015 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

In regards to getting EIN and setting up DBA - should I just use legal zoom? They charge 99 plus state fee for dBA and 79 for EIN. I can try to do it myself but don't want to screw it up. Also, if I do it myself, I'm not sure what to get first : dBA or EIN. I think the EIN may require that the dBA b...
by Gemini
Fri Jan 23, 2015 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

You think I really need a CPA and a lawyer? You don't need them, but they are very cheap relative to the costs of a potential misstep. Why not pay a few hundred bucks and talk to someone who does this for a living? Good advice will pay for itself many times over. A CPA may be enough, I'd think a la...
by Gemini
Thu Jan 22, 2015 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Physician Independent contractor - LLC vs S corp vs other
Replies: 99
Views: 8665

Re: Physician Independent contractor - LLC vs S corp vs othe

Was reading this :" viewtopic.php?f=2&t=137366

Would it not be better if I opened a SEP IRA and then converted that to a ROTH IRA instead of going with a solo 401K?
by Gemini
Wed Jan 21, 2015 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Explain me some tax law!
Replies: 16
Views: 2288

Re: Explain me some tax law!

Gill wrote:What kind of "company"? Is it a corporation or a partnership? Makes a big difference.
Gill


This is a learning exercise. Please explain what difference it makes.

Let's assume its a LLC with multiple members.
by Gemini
Wed Jan 21, 2015 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: Explain me some tax law!
Replies: 16
Views: 2288

Re: Explain me some tax law!

Nope Not an accountant, but here is my understanding, The K-1 reflects the companies earnings which you are taxed on as ordinary income. You are not taxed on distributions. I would review the term phantom income as well. Your domicile will dictate the state taxes you may or may not owe. Best M Righ...

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