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Re: Small business s corp retirement investing

We had a SIMPLE. As it turns out, none of our employees elected to participate (despite my prodding them to enroll). It was very easy to administer. I used Fidelity.

Suggest you ask your partner and employees whether this is something they would value.
by Hayden
Thu Jan 29, 2015 7:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Small business s corp retirement investing
Replies: 5
Views: 242

Re: Downsize, Reduce, Simplify.

We have been considering downsizing for some time and there are some potential problems that have prevented us from taking actions. (1) Due to the cost associated with downsizing, we want to do this just once. But we have not decided if we want to stay here or move to another state after retiring. ...
by Hayden
Sun Jan 25, 2015 11:45 am
 
Forum: Personal Consumer Issues
Topic: Downsize, Reduce, Simplify.
Replies: 65
Views: 7147

Re: Downsize, Reduce, Simplify.

I'm impressed with the people who did this in months. I've been working on getting rid of stuff for over a year. I find it very difficult. I have a huge amount of paper records. I also have lots of books. I've been better at simplifying my financial life. That has been a pleasure. And I've worked at...
by Hayden
Sat Jan 24, 2015 9:43 am
 
Forum: Personal Consumer Issues
Topic: Downsize, Reduce, Simplify.
Replies: 65
Views: 7147

Re: Boglehead Beer

I love this thread. My current favorite beer is oatmeal stout. I've been doing a brewery map, visiting lots of different breweries. It's lots of fun. I haven't had an oatmeal stout I haven't liked. Unfortunately, I never remember the names.
by Hayden
Tue Jan 20, 2015 7:42 pm
 
Forum: Personal Consumer Issues
Topic: Boglehead Beer
Replies: 475
Views: 67492

Re: Retirees: Do you work part-time for pay?

I work part-time. For me, I don't think working 0 hours per week would be better than working 10 hours per week. Maybe it's because I haven't quite figured out what to do with myself in retirement. I already travel as much as I care to (about 9 weeks per year)
by Hayden
Sat Jan 17, 2015 2:41 pm
 
Forum: Personal Consumer Issues
Topic: Retirees: Do you work part-time for pay?
Replies: 58
Views: 4934

Re: Business Taxe filing software

Interesting, I know Bogleheads recommend doing personal taxes oneself, but doing the 1120S oneself? Isn't that best left to an accountant? I too had issues with my last CPA, so just switched to a new one for this filing season. I do all the book keeping myself, and then give him all the numbers for ...
by Hayden
Sat Jan 17, 2015 2:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Business Taxe filing software
Replies: 7
Views: 483

Re: Benefits of Second Home

We have a weekend house and I find the hassle considerable. However, as we approach retirement age, what you refer to as the "psychic" benefit of the house may actually enable us to work longer than we would have otherwise. We're now thinking about spending half time at the house, one week...
by Hayden
Fri Jan 16, 2015 9:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Benefits of Second Home
Replies: 35
Views: 3185

Re: Two Homes in Retirement?

We have two houses, and find it very expensive. We have three cars. fully equipping a second kitchen. Furnishing two houses, including furniture, linens, towels, etc. equipping two home offices. Home electronics setup in both places. Monthly Internet charge in both. Security monitoring in both. Ongo...
by Hayden
Mon Jan 12, 2015 9:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Two Homes in Retirement?
Replies: 38
Views: 3496

Re: Does foreign LLC have any tax implications

I moved my LLC from one state to another. Took me several years to get it sorted out, and get me completely out of the first state. probably because I didn't understand what paperwork needed to be submitted. Every time I spoke with someone from the first state, I got a different answer. I think thi...
by Hayden
Sun Jan 11, 2015 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does foreign LLC have any tax implications
Replies: 6
Views: 669

Re: S corp payroll: Paychex or Zen Payroll?

@Polaris – if you don't mind me asking, how much does Paychex charge you for officer payroll? I pay $615/yr for up to 4 payrolls, all fed/state taxes e-paid and all forms e-filed, year end W2. My last non-quarterly monthly payroll was $54.15 for the following items: Payroll Processing Taxpay Servic...
by Hayden
Sun Jan 11, 2015 1:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: S corp payroll: Paychex or Zen Payroll?
Replies: 17
Views: 1373

Re: S corp payroll: Paychex or Zen Payroll?

I've been using Paychex for over a decade. I've had lots of problems over the years. One reason is that their payroll specialists turn over rapidly. Some are quite good, some are quite bad. I spend considerable amounts of time correcting their errors. For 2015, I have been planning to switch to Int...
by Hayden
Sat Jan 10, 2015 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: S corp payroll: Paychex or Zen Payroll?
Replies: 17
Views: 1373

Re: Does foreign LLC have any tax implications

I moved my LLC from one state to another. Took me several years to get it sorted out, and get me completely out of the first state. probably because I didn't understand what paperwork needed to be submitted. Every time I spoke with someone from the first state, I got a different answer. I think this...
by Hayden
Sat Jan 10, 2015 9:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Does foreign LLC have any tax implications
Replies: 6
Views: 669

Re: S corp payroll: Paychex or Zen Payroll?

I've been using Paychex for over a decade. I've had lots of problems over the years. One reason is that their payroll specialists turn over rapidly. Some are quite good, some are quite bad. I spend considerable amounts of time correcting their errors. For 2015, I have been planning to switch to Intu...
by Hayden
Sat Jan 10, 2015 9:25 am
 
Forum: Personal Finance (Not Investing)
Topic: S corp payroll: Paychex or Zen Payroll?
Replies: 17
Views: 1373

Re: 3-member LLC with a solo 401K?

My LLC has 2 members (not spouses). Fidelity told me that we could do a solo 401k. Don't know why they told you the opposite. My company is an S Corp, perhaps that makes a difference. Hayden, It's because: *I may not have explained my situation clearly, even though I though I had, and/or *there is ...
by Hayden
Tue Jan 06, 2015 8:40 am
 
Forum: Personal Finance (Not Investing)
Topic: 3-member LLC with a solo 401K?
Replies: 16
Views: 1880

Re: 2015 Predictions: Most Popular Topics

Should I buy a triple leveraged oil ETF?
by Hayden
Tue Jan 06, 2015 8:31 am
 
Forum: Investing - Theory, News & General
Topic: 2015 Predictions: Most Popular Topics
Replies: 38
Views: 2409

Re: 3-member LLC with a solo 401K?

My LLC has 2 members (not spouses). Fidelity told me that we could do a solo 401k. Don't know why they told you the opposite.

My company is an S Corp, perhaps that makes a difference.
by Hayden
Sun Jan 04, 2015 11:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: 3-member LLC with a solo 401K?
Replies: 16
Views: 1880

Re: Using professional help vs DIY for small business corp

Sounds like you don't fully understand what the various forms and required submissions are (eg, payroll processors absolutely do not prepare the 1120s and the k-1). Why don't you hire a CPA to do this for the first year or so, and then decide if you want to do it after you better understand what's i...
by Hayden
Sun Jan 04, 2015 10:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Using professional help vs DIY for small business corp
Replies: 2
Views: 599

Re: Starting sole prop or corp for max retirement savings (t

It seems to me that salary should be set to 140,000 to maximize 401k. I didn't see that in your spreadsheet.

I plan to set my salary at 140,000 for 2015. Did you come to a different conclusion?
by Hayden
Sat Jan 03, 2015 10:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Starting sole prop or corp for max retirement savings (tax)
Replies: 21
Views: 2066

Re: Client Not Letting Independent Contractor Use LLC?

I would discuss it with an insurance agent who is knowledgeable about this line of work. I would not call the insurance company directly.
by Hayden
Sat Jan 03, 2015 10:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Client Not Letting Independent Contractor Use LLC?
Replies: 32
Views: 2911

Re: Starting sole prop or corp for max retirement savings (t

- Also does the employer portion of the 401k contribution reduces the total w2 wages for the employee? (i.e if w2 wages is 70k, and employer contribution is 17k, then does that mean the corp need to make 87k to cover for the employer contribution?). The employer profit sharing contribution is a cor...
by Hayden
Thu Jan 01, 2015 2:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Starting sole prop or corp for max retirement savings (tax)
Replies: 21
Views: 2066

Re: Working for Federal Employer and Federal Contractor allo

Agree with the answers above. You need to ask both sides. There are lots of different requirements among agencies and offices within agencies. For example, I once had a contract that prohibited billing the government (across all activities) in excess of 40 hours per week.
by Hayden
Thu Jan 01, 2015 11:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Working for Federal Employer and Federal Contractor allowed?
Replies: 4
Views: 411

Re: Starting sole proprietorship for tax reasons - any downs

Personally, I would go the sole proprietor route for the solo 401k and the ability to deduct health insurance premiums.

You may want to purchase insurance for the company. Probably worth meeting with an insurance agent who is knowledgeable about your wife's line of work.
by Hayden
Wed Dec 31, 2014 11:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Starting sole prop or corp for max retirement savings (tax)
Replies: 21
Views: 2066

Re: Client Not Letting Independent Contractor Use LLC?

This doesn't make sense to me. Why is she talking to HR? Are you sure she is an independent contractor? She should be talking to procurement. That said, I once came across a company that would only contract with individuals, not LLCs. They claimed it was because of the way their prime contract was s...
by Hayden
Mon Dec 29, 2014 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Client Not Letting Independent Contractor Use LLC?
Replies: 32
Views: 2911

Re: Engaged - marriage penalty & other practical concerns

If you go this route, you definitely want to do a medical power of attorney. We got free forms from the hospital when going in for a procedure. Worked fine; we've had no issues at various hospitals, but we do carry it with us when we go into the hospital. Other than that, other posters on this board...
by Hayden
Mon Dec 29, 2014 4:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Engaged - marriage penalty & other practical concerns
Replies: 50
Views: 3874

Re: Favorite computer apps when travelling

stratton wrote:Urban Spoon does restaurant reviews and is similar to yelp.

http://www.urbanspoon.com

Paul


+1
I use urbanspoon all the time.
by Hayden
Sat Dec 27, 2014 1:16 pm
 
Forum: Personal Consumer Issues
Topic: Favorite computer apps when travelling
Replies: 19
Views: 2145

Re: Failing Entrepreneur ... need advice

I think you've gotten excellent advice here. I'll just throw out my own experience. I've been running a company for 15 years. Twice over that period, I've made major changes to the business model. I decided I didn't enjoy what I was doing, but rather than close the company, I changed the company. I ...
by Hayden
Sat Dec 27, 2014 11:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Failing Entrepreneur ... need advice
Replies: 23
Views: 3028

Re: Help with an adults only all-inclusive

All inclusives vary greatly in personality and demographics. For example, we've been to places with an older demographic that had nightclubs but no one was in them. At other places the nightclubs are packed. Some places are for relaxation, others have non stop activities. I recommend trying to find ...
by Hayden
Fri Dec 19, 2014 11:14 am
 
Forum: Personal Consumer Issues
Topic: Help with an adults only all-inclusive
Replies: 26
Views: 4422

Re: Help with an adults only all-inclusive

It's not Mexico but my wife and I had an amazing time at Sandals Grande in St. Lucia. It is both adults and couples only. 9 different restaurants to choose from and lots of different bars, all with different themes. +1 We had a wonderful time at Zoetry in Cabo. But, Zoetry is very quiet, not for th...
by Hayden
Fri Dec 19, 2014 9:36 am
 
Forum: Personal Consumer Issues
Topic: Help with an adults only all-inclusive
Replies: 26
Views: 4422

Re: Vanguard's economic and investment outlook [2015]

Interesting read, but my IPS says I'm supposed to ignore news and stay the course. My equities are 60% US / 40% international.

Anyone changing their AA based on this?
by Hayden
Thu Dec 18, 2014 11:25 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard's economic and investment outlook [2015]
Replies: 21
Views: 3110

Re: solo 401k

Guys I have already contributed the max to my solo 401k. Is there a way to have my wife also contribute max / another $52k for this year? Were both "employed" by the company we own. Is this as a spouse contribution or an "employee" ? Thanks for your help! The employee deferral i...
by Hayden
Thu Dec 18, 2014 10:20 am
 
Forum: Investing - Help with Personal Investments
Topic: solo 401k
Replies: 29
Views: 2703

Re: How to create a company

I think you should meet with an accountant to make sure it is set up properly. Maybe a lawyer as well. While much of forming a company is simple, there can be problems if it is not set up right.
by Hayden
Wed Dec 17, 2014 5:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to create a company
Replies: 9
Views: 1493

Re: App for investments

I use the Morningstar app to track my investments. Maybe I'm wrong, but I think that is safer than logging into my Vanguard account from my iPad.
by Hayden
Wed Dec 17, 2014 10:42 am
 
Forum: Investing - Help with Personal Investments
Topic: App for investments
Replies: 7
Views: 818

Re: AA for Early Retirement

I plan to retire next year at age 52. I've decided to maintain a 50/50 asset allocation in perpetuity. I will be able to live comfortably on a 2% withdrawal rate. Like others here, I've been researching withdrawal methods. It seems to me that using the IRS' RMD % is a simple and reasonable approach.
by Hayden
Wed Dec 17, 2014 8:50 am
 
Forum: Investing - Help with Personal Investments
Topic: AA for Early Retirement
Replies: 21
Views: 2357

Re: Physician doing consulting on side - individual 401k?

For anything less than 12K, its easier to do a SIMPLE IRA and then roll it in your current or past 401 or 403. This way SIMPLE IRA wont interfere with backdoor ROTH. Wouldn't you have to wait 2 years before rolling the SIMPLE into the 457b? Yes. I'm dealing with this myself. You have to wait 2 year...
by Hayden
Tue Dec 16, 2014 3:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Physician doing consulting on side - individual 401k?
Replies: 32
Views: 2804

Re: TLH question

Here are some relevant transactions: ⋅ On 11/7/2014, I sold all of my VTIAX to buy VFWAX in my taxable. I did this to TLH. ⋅ On 11/17/2014, I bought some more VFWAX. ⋅ I do have VTIAX in my Roth IRA, but last buy transaction was done on 9/23/2014. Dividends are now set...
by Hayden
Tue Dec 16, 2014 2:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: TLH question
Replies: 6
Views: 697

Re: Oregon wine tour

We spend a lot of time visiting wineries when we travel. It is a great way to meet friendly locals and learn about the area. We spend a lot of time at each winery talking to the people. Fun, educational, relaxing way to travel. A couple of thoughts for you. Oregon has a lot of wineries. Every place ...
by Hayden
Sun Dec 14, 2014 1:40 pm
 
Forum: Personal Consumer Issues
Topic: Oregon wine tour
Replies: 5
Views: 649

Re: Joint emergency fund for a single person ?

I think a joint account makes sense. But, what about for things that are more expensive. Say you need to be in a care facility. How does that get paid for? Can Sister access your other funds?
by Hayden
Sat Dec 06, 2014 11:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Joint emergency fund for a single person ?
Replies: 16
Views: 1842

Re: Selling a rented house

Jimb_fromATL, thank you for sharing those potential pitfalls. That is definitely inconsistent with my goal of simplifying life!
by Hayden
Mon Dec 01, 2014 1:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3169

Re: Selling a rented house

I wouldn't expect the tenant to be in any position to buy; in the last 10y they've had 10 years to buy a place of their own and have continued renting for good reasons. Not necessarily the case as some of the reasons people might not stop living in a rental is that they like the place and/or don't ...
by Hayden
Mon Dec 01, 2014 1:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3169

Re: Selling a rented house

I am all in favor of landlords being "nice" - I have encountered some who are not. In this case, it seems, this tenant has been zero problem/hassle in return for your being nice and not having raised the rent. It is possible, though, that she is completely unaware of what "market&quo...
by Hayden
Mon Dec 01, 2014 11:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3169

Re: Selling a rented house

Thank you for the thoughtful responses. Yes, if I ask her to leave, I will give her 90 days. I understand that she regards this as her home, not a temporary dwelling. (I wish she would purchase it....) Still curious about the investor angle. Seems like having an excellent tenant is a good asset. Any...
by Hayden
Mon Dec 01, 2014 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3169

Re: S Corp Health Premiums - can count as wages for solo 401

The health insurance premiums are included in W2 Box 1, so I would think that they do count as wages for calculating the 401k contribution amount. But, I am not an accountant. Hoping one of the experts here will chime in.

Did you ask Vanguard? What did they say?
by Hayden
Mon Dec 01, 2014 10:44 am
 
Forum: Personal Finance (Not Investing)
Topic: S Corp Health Premiums - can count as wages for solo 401k?
Replies: 11
Views: 1024

Re: Selling a rented house

Thank you for your responses. So, first, I send her a letter notifying her that I plan to sell the property, and offering it to her at a reduced price of $X. Since I'm not familiar with rental law, should I have a lawyer prepare this letter? If she doesn't buy, there are two options. Let her stay in...
by Hayden
Sun Nov 30, 2014 10:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3169

Re: Would you move/stay for better school district?

I went to a top public high school, and from there, a top university. I often get asked how attending this particular university changed my life. I actually think the top public high school was more important.
by Hayden
Sat Nov 29, 2014 7:08 pm
 
Forum: Personal Consumer Issues
Topic: Would you move/stay for better school district?
Replies: 55
Views: 4745

Re: small business owners and employee health ins. premiums

I paid 95% of the premium for the EE, 0 for the dependents.

This may be industry related. This approach made sense in my industry.
by Hayden
Sat Nov 29, 2014 3:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: small business owners and employee health ins. premiums
Replies: 4
Views: 680

Re: Selling a rented house

Do you want to consider having the tenant as month-to-month until you sell? Trade off is if tenant then fights moving at the last minute, and this interferes with a sale. RM This tenant has always been very private, doesn't want us coming in the house. I can't imagine she would want us showing the ...
by Hayden
Sat Nov 29, 2014 3:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3169

Re: Selling a rented house

Sidney wrote:Why not just send a certified mail letter notifying the tenant that you are not going to renew the lease when the existing lease expires.


The lease was only for the first year. The tenant has been month-to-month for the past decade.
by Hayden
Sat Nov 29, 2014 3:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3169

Re: Reached a minor financial milestone this month

Congratulations! The fact that you are thinking about this and making plans at age 31 is excellent!
by Hayden
Sat Nov 29, 2014 3:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reached a minor financial milestone this month
Replies: 28
Views: 3779

Selling a rented house

I figured out a while ago that I want to get out of the rental real estate business. I've been selling off properties as they become vacant. One left. The tenant is an excellent tenant who has rented the property since 2003. I feel bad thinking about kicking her out. I've never even raised her rent ...
by Hayden
Sat Nov 29, 2014 3:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3169

Re: Rental Real Estate vs. Stocks and Bonds

I have owned rental property for over 10 years, and have regretted it. I've been selling them off, and will send the last one next year. Sure, I made money, but much less than I made at my day job. In my case, it just was not a good use of my time. I am looking forward to simplifying my life, and no...
by Hayden
Sat Nov 29, 2014 2:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental Real Estate vs. Stocks and Bonds
Replies: 71
Views: 8133
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