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Re: [TAX] Shell Company Expenses

I have read the advice to keep the company open for a few years after it ceases business until the statute of limitations has run out on any potential liabilities. So, I imagine your situation is not uncommon, and the IRS is accustomed to seeing tax returns like yours. But, I am not an accountant or...
by Hayden
Sun Apr 12, 2015 10:07 am
 
Forum: Personal Finance (Not Investing)
Topic: [TAX] Shell Company Expenses
Replies: 1
Views: 282

Re: Anyone semi-retired? What's it like?

The biggest change for me is that I am much healthier now. I used to work all the time and ate most of my meals out. Now I have time to shop for fresh produce and prepare healthy meals. I also have time to exercise every day. I've lost weight and I'm getting into good physical condition. I've also s...
by Hayden
Sat Apr 11, 2015 10:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Anyone semi-retired? What's it like?
Replies: 16
Views: 2529

Re: JOWPYN - The Joy of Working Past Your Number

After a lifetime of being frugal, it has taken me years to wrap my mind around the idea that I have enough. I am finally coming to grips with the idea that I have more money than I can spend (not more money than anyone can spend, but more money than I need for the lifestyle I choose). I've cut back ...
by Hayden
Tue Mar 31, 2015 2:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: JOWPYN - The Joy of Working Past Your Number
Replies: 55
Views: 7703

Re: Looking for Location Leads

How about Coeur d'Alene ID?
by Hayden
Tue Mar 31, 2015 2:22 pm
 
Forum: Personal Consumer Issues
Topic: Looking for Location Leads
Replies: 8
Views: 516

Vanguard keeps mailing me dividend checks

For the past three quarters, Vanguard has mailed me a paper dividend check, even though my account is set up to deposit dividends to the Prime Money Market account. Each time, I call, and Vanguard confirms that the account is properly set up to deposit dividends. They say they have no idea why this ...
by Hayden
Mon Mar 30, 2015 3:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard keeps mailing me dividend checks
Replies: 5
Views: 1295

Re: Painting Cabinets and Trim

I am cringing at the thought of painting wood. That is definitely not something to everyone's taste. our cabinets had a lousy finish that was flaking off so we hired someone to paint them beige/antiqued. Perhaps what you are contemplating. She did a fabulous job and we love them. I know some folks w...
by Hayden
Wed Mar 25, 2015 1:51 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2147

Re: LTC Insurance Premiums for S Corp Owner

That's what I've done in the past for health insurance. I wasn't aware that long term care insurance was treated in exactly the same way. For 2015, my CPA advised that there is some murkiness on treatment of 2% shareholder health insurance under the new law, so he advised delaying company reimbursem...
by Hayden
Tue Mar 24, 2015 8:23 am
 
Forum: Personal Finance (Not Investing)
Topic: LTC Insurance Premiums for S Corp Owner
Replies: 3
Views: 274

Re: S-Corp Partner Purchasing Own Health Insurance

In the past, the company reimbursed each owner, and reported it as wages on the W2. Then, the individual can deduct it on their personal tax return. With the new health insurance rules, there is some murkiness on this going forward. My CPA recommended that I hold off on doing this for 2015 until lat...
by Hayden
Tue Mar 24, 2015 8:16 am
 
Forum: Personal Finance (Not Investing)
Topic: S-Corp Partner Purchasing Own Health Insurance
Replies: 5
Views: 531

Re: Starting a SIMPLE-IRA July 1

I find it helpful to think in terms of the W2. The maximum matching contribution is 3% of the employee's W2 wages.
by Hayden
Mon Mar 23, 2015 7:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Starting a SIMPLE-IRA July 1
Replies: 3
Views: 266

Re: Solo 401k and complexity

I started a solo 401k this year, and have been making employee and employer contributions to it. It has been easy. To set it up, I downloaded the forms from Fidelity's website, and then went over each item on the form with a very helpful person from Fidelity. They seemed very happy to walk through t...
by Hayden
Mon Mar 23, 2015 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Solo 401k and complexity
Replies: 9
Views: 705

Re: Starting a SIMPLE-IRA July 1

Yes, full year limits apply
by Hayden
Mon Mar 23, 2015 3:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Starting a SIMPLE-IRA July 1
Replies: 3
Views: 266

LTC Insurance Premiums for S Corp Owner

I have an owner-only S Corp (two owners) that pays my long-term care insurance premiums (about $60/month). Several years ago, a CPA told me that it is OK for the company to pay these premiums, and that it should not be reported on the W2. With the changes that have occurred surrounding health insura...
by Hayden
Mon Mar 23, 2015 1:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: LTC Insurance Premiums for S Corp Owner
Replies: 3
Views: 274

Re: Urgent Care Centers - When should they be used?

The problem is, as a lay person, it is hard to know. I still think I'm a young person, so I believe things like heart attacks and strokes can't happen to me. When I had a problem once, I went to UC. When an older friend had a problem, I took him to the ER. In my case, I err on the side of not going ...
by Hayden
Sun Mar 22, 2015 5:55 pm
 
Forum: Personal Consumer Issues
Topic: Urgent Care Centers - When should they be used?
Replies: 45
Views: 3777

Re: Partnership Special Allocation

Thank you, Two Headed Mule, that was very helpful.
by Hayden
Sun Mar 22, 2015 5:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Partnership Special Allocation
Replies: 6
Views: 562

Re: Partnership Special Allocation

Assuming B is unrelated, the IRS generally has no problem with these sorts of allocations. The agreement between the parties is assumed to be at arm's length and is therefore being done primarily for business considerations rather than tax considerations. The IRS generally only becomes concerned if...
by Hayden
Sat Mar 21, 2015 8:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Partnership Special Allocation
Replies: 6
Views: 562

Re: Partnership Special Allocation

It can be complicated, but there is nothing in theory preventing you from making the allocations you want: Suppose A puts in $90 and B puts in $10 and property is purchased for $100. The property is then fully depreciated over time, with the depreciation allocated $90 to A and $10 to B. The propert...
by Hayden
Fri Mar 20, 2015 11:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Partnership Special Allocation
Replies: 6
Views: 562

Re: Negotiation Help: HR won't even bother?!

Try negotiating the pay grade. If you are entering the government contracting world, you will want to understand their pay grades (they may call this by different names, e.g., labor categories). e.g., ask what grade they have placed you at, and what it takes to be in the next pay grade.
by Hayden
Fri Mar 20, 2015 4:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Negotiation Help: HR won't even bother?!
Replies: 3
Views: 710

Re: STEM Job Offer Advice: Govt Contractor vs Industry

Since you seem to be interested in money, why not go to Battelle and then leave and start your own company? Many people have done it. There are different ways to do this, e.g., some people develop something at Battelle and then form a company and license it from Battelle.
by Hayden
Fri Mar 20, 2015 4:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: STEM Job Offer Advice: Govt Contractor vs Industry
Replies: 26
Views: 2147

Partnership Special Allocation

I have a real estate LLC (Form 1065) and I plan to sell the property and shut down the LLC in 2015. I’ve been told that I can do a Special Allocation. I will have a CPA do all the filings; I just want to make sure I understand this before I head down this path. Here’s the situation (simplified somew...
by Hayden
Fri Mar 20, 2015 4:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Partnership Special Allocation
Replies: 6
Views: 562

Re: STEM Job Offer Advice: Govt Contractor vs Industry

National lab work is pretty stable. I don't know your particular situation, but I think you may have underestimated the stability of the national lab job. Do you have a Ph.D? I also don't think national lab pensions are going away. I think a big issue is that you are single. National labs "in t...
by Hayden
Thu Mar 19, 2015 8:22 am
 
Forum: Personal Finance (Not Investing)
Topic: STEM Job Offer Advice: Govt Contractor vs Industry
Replies: 26
Views: 2147

Re: Tourists in Manhattan

I always recommend people eat pizza. I love NY pizza. Nothing else like it.
by Hayden
Sat Mar 14, 2015 3:32 pm
 
Forum: Personal Consumer Issues
Topic: Tourists in Manhattan
Replies: 53
Views: 4747

Re: SEP IRA or SIMPLE (complicated slightly)

Something to consider: can you reduce the employees pay (or future raises) to somewhat compensate for the money you are putting in their retirement account? Reducing employee's pay in conjunction with starting up a SEP IRA to do an end run around equal percentage contribution requirements would not...
by Hayden
Sat Mar 14, 2015 3:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: SEP IRA or SIMPLE (complicated slightly)
Replies: 17
Views: 1470

Re: SEP IRA or SIMPLE (complicated slightly)

When I was faced with this choice (different circumstances), a big issue for me was that the retirement contribution was not something that the employees valued. They wanted cash In their pockets. I chose the SIMPLE, and as it turned out, none of my eligible employees enrolled (despite my continual ...
by Hayden
Sat Mar 14, 2015 10:45 am
 
Forum: Investing - Help with Personal Investments
Topic: SEP IRA or SIMPLE (complicated slightly)
Replies: 17
Views: 1470

Re: Best Business Start-up?

Creating an app, where you have to pay a programmer to build it, does not strike me as low risk or easy. It seems like some of those things, like creating dog clothes and selling on etsy, you could just start doing and see what happens. Why not do that? FWIW, I know a person with a parking lot sweep...
by Hayden
Sat Mar 14, 2015 10:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Best Business Start-up?
Replies: 16
Views: 1234

Re: Home workouts and motivation

I take inexpensive classes at the local community center. I find it essential to have the workout scheduled on my calendar. If the workout time is flexible, I will often find something else to do and skip the workout.
by Hayden
Mon Mar 09, 2015 8:28 am
 
Forum: Personal Consumer Issues
Topic: Home workouts and motivation
Replies: 60
Views: 3088

Re: How to Hold CPA Accountable for Negligence

I started out with a CPA who was very well regarded, but was a jack of all trades. I found he was not expert in S Corp issues, so I switched to a CPA who specializes in S Corps. Suggest you do the same.
by Hayden
Sun Mar 08, 2015 12:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Hold CPA Accountable for Negligence
Replies: 36
Views: 3370

Re: Question on Turbo Tax Online

tc101 wrote:After I pay for Turbo Tax online, do I have to file right away?

Can I print my tax form, look it over, make changes, save it as a PDF, wait a week, make more changes, print it again, and so on?


Yes. After you pay, you can get the PDF, and make changes etc. you don't file until you are ready.
by Hayden
Sun Mar 08, 2015 11:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Question on Turbo Tax Online
Replies: 8
Views: 406

Re: High Cost of Fruits and Vegetables

I just signed up for CSA. I will get a big box of vegetables (more than I can eat) each week for 16 weeks. Total cost (upfront) is $475. I believe in eating large quantities of vegetables, so I'm hoping this works well for me.
by Hayden
Sun Mar 08, 2015 11:17 am
 
Forum: Personal Consumer Issues
Topic: High Cost of Fruits and Vegetables
Replies: 126
Views: 7433

Re: Well made woman's shoe?

Stuart Weitzman is great for a narrow foot.
by Hayden
Sat Mar 07, 2015 11:16 am
 
Forum: Personal Consumer Issues
Topic: Well made woman's shoe?
Replies: 27
Views: 2198

Re: S. Corp Salary Amount and Retirement Contributions

You seem to be asking about 2014 salary. I don't see how you can pay 2014 salary in 2015. Salary paid in 2015 would appear on your 2015 W2, not your 2014 W2.
by Hayden
Thu Mar 05, 2015 9:22 am
 
Forum: Investing - Help with Personal Investments
Topic: S. Corp Salary Amount and Retirement Contributions
Replies: 41
Views: 2684

Re: Check your HSA Bank Statement!

I am about ready to give up on HSA Bank. I called about the $3 fee, and customer service told me they couldn't help me because their computers were down. They told me they would call me back, but they never did. I haven't been able to access my monthly statements or my tax statements (I can see the ...
by Hayden
Thu Mar 05, 2015 9:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Check your HSA Bank Statement!
Replies: 18
Views: 2914

Re: Is Yahoo Mail working very slowly???

My yahoo mail has been glitchy lately. Currently it is informing me that I do not have a network connection. But, since I'm posting this, obviously I do
by Hayden
Wed Mar 04, 2015 3:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is Yahoo Mail working very slowly???
Replies: 26
Views: 1450

Re: health insurance premium deduction for self employed

There are special rules regarding health insurance for greater than 2% owners of an S Corp. you should google it. In broad terms, the amount the company pays for health insurance is reported on your W2 as income, and then you deduct it on your personal tax return. This is a complicated subject, and ...
by Hayden
Wed Mar 04, 2015 11:00 am
 
Forum: Personal Finance (Not Investing)
Topic: health insurance premium deduction for self employed
Replies: 2
Views: 302

Re: Wife turning 50, Ideas for gift?

A trip to somewhere she picks (without consideration of whether you want to go there)
by Hayden
Mon Mar 02, 2015 9:11 am
 
Forum: Personal Consumer Issues
Topic: Wife turning 50, Ideas for gift?
Replies: 25
Views: 1966

Re: Wife doesn't want to retire - I do

I've been giving a lot of thought to retirement lately, and the best advice I've read on Bogleheads and elsewhere is to retire TO something, rather than from something. for a long time, I didn't want to retire because I couldn't envision what I would do In retirement. Maybe you could retire and star...
by Hayden
Sat Feb 28, 2015 11:18 am
 
Forum: Personal Consumer Issues
Topic: Wife doesn't want to retire - I do
Replies: 65
Views: 6368

Re: What age do you guys plan to retire?

I no longer work ambitiously to make more money. +1 I consider myself semi-retired. I work part time, doing what's needed to run my business, but I don't put any effort into growing the business. With new technology, it's becoming possible for me to run the business from anywhere, so that the busin...
by Hayden
Tue Feb 24, 2015 10:32 am
 
Forum: Personal Finance (Not Investing)
Topic: What age do you guys plan to retire?
Replies: 143
Views: 9119

Re: How do you plan on spending your time during retirement?

Start cooking. Right now, I don't cook. I'm reading In Defense of Food, and he's got me convinced I need to stop eating processed food, start buying fresh vegetables and learn how to cook them. I plan to join a CSA this summer.
by Hayden
Tue Feb 24, 2015 10:18 am
 
Forum: Personal Consumer Issues
Topic: How do you plan on spending your time during retirement?
Replies: 43
Views: 3291

Re: Employer contribution to 401k recorded in payroll?

Spirit Rider wrote:I agree, I think the Intuit rep is mistaken. I see no code in the descriptions for box 12 that indicates employer contributions. Nor have I ever seen anything in a W-2 when I received employer matching.


Thank you!
by Hayden
Mon Feb 23, 2015 9:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer contribution to 401k recorded in payroll?
Replies: 2
Views: 429

Employer contribution to 401k recorded in payroll?

I’m setting up Intuit Online Payroll to run payroll for my owner-only S Corp with a Solo 401k. I set up the EE contributions to the 401k. No issues there. But the Intuit Rep says I must set up the ER contributions through payroll as well. Why is this? It seems to me that I just wait until the end of...
by Hayden
Mon Feb 23, 2015 6:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Employer contribution to 401k recorded in payroll?
Replies: 2
Views: 429

Re: Define: participate in a retirement plan at work

What was the employer's response when she asked them about this? I agree that it seems to be a conflict. We have a call in asking this question but employer is hard to get answers from (contracting agency for a federal position). This statement by the OP is why I think the Service Contract Act appl...
by Hayden
Thu Feb 19, 2015 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Define: participate in a retirement plan at work
Replies: 43
Views: 2427

Re: Define: participate in a retirement plan at work

What was the employer's response when she asked them about this? I agree that it seems to be a conflict. We have a call in asking this question but employer is hard to get answers from (contracting agency for a federal position). This statement by the OP is why I think the Service Contract Act appl...
by Hayden
Thu Feb 19, 2015 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Define: participate in a retirement plan at work
Replies: 43
Views: 2427

Re: Define: participate in a retirement plan at work

They put it in the retirement account because they were required to give her the money, and if they had paid it in cash, they would have had to pay payroll taxes (FICA and State unemployment tax). I was a government contractor for many years, and I always paid in cash, but I know that other governm...
by Hayden
Thu Feb 19, 2015 10:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Define: participate in a retirement plan at work
Replies: 43
Views: 2427

Re: Define: participate in a retirement plan at work

Now that's interesting. It makes some sense that the contribution does not count because it is not for retirement. But why did they put it in her retirement account? Welcome to the forum! They put it in the retirement account because they were required to give her the money, and if they had paid it...
by Hayden
Thu Feb 19, 2015 9:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Define: participate in a retirement plan at work
Replies: 43
Views: 2427

Re: Music / Song Help

Well, I hate it, but some people like MacArthur Park
Tangled up in blue
by Hayden
Wed Feb 18, 2015 9:25 pm
 
Forum: Personal Consumer Issues
Topic: Music / Song Help
Replies: 52
Views: 2454

Re: Define: participate in a retirement plan at work

You tried calling the company, but I wonder if the company hired a separate company to administer the employee benefits program. If so, I would try asking the question there. For those who don't understand how this could happen, perhaps I can shed some light. I'm just guessing of course, but here's ...
by Hayden
Wed Feb 18, 2015 6:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Define: participate in a retirement plan at work
Replies: 43
Views: 2427

Re: What is your favorite consumer product?

Microwave popcorn
by Hayden
Wed Feb 18, 2015 6:39 pm
 
Forum: Personal Consumer Issues
Topic: What is your favorite consumer product?
Replies: 174
Views: 11892

Re: Accountant Cost When Taxes Done During Meeting

That seems low to me. My accountant charged extra this year to do several of the new Form 3116. I paid about $3500 for a rental business and an S Corp.
by Hayden
Wed Feb 18, 2015 11:18 am
 
Forum: Personal Finance (Not Investing)
Topic: Accountant Cost When Taxes Done During Meeting
Replies: 19
Views: 1548

Re: Looking For Fixed Income Advice -CDs Are Maturing

I have a CD about to mature, and I've decided to move the money to a Vanguard muni find. (Intermediate term tax exempt). My major goal is to simplify my life (so I am free to travel etc without worrying about what dates my CDs mature), so I thought this was a simple solution for me.
by Hayden
Wed Feb 18, 2015 11:10 am
 
Forum: Investing - Help with Personal Investments
Topic: Looking For Fixed Income Advice -CDs Are Maturing
Replies: 2
Views: 308

Re: Large Age Gap with Spouse/Partner

There are many men on this board in their 80s who do a great job managing the finances. That being said, I don't think that is the norm. Most likely, in addition to managing the family healthcare, you will be managing the family finances. Are you comfortable taking all that on?
by Hayden
Tue Feb 17, 2015 10:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Large Age Gap with Spouse/Partner
Replies: 63
Views: 5516

Re: Large Age Gap with Spouse/Partner

besides the children issue, there are a lot of issues with a big age difference. The age difference is not such a big deal at your ages. It will seem very different when you are 55 and he is 80. In addition to the health issues, retirement will create more issues. What happens when he wants to retir...
by Hayden
Mon Feb 16, 2015 9:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Large Age Gap with Spouse/Partner
Replies: 63
Views: 5516
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