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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: 21
Views: 2633

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: 21
Views: 2633

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: 2921

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: 2647

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: 1329

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: 791

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: 2286

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: 28
Views: 2020

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: 677

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: 644

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: 14
Views: 1400

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: 3087

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: 3087

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: 3087

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: 3087

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: 988

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: 3087

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: 4624

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: 674

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: 3087

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: 3087

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: 3689

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: 3087

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: 7278

Re: What do you splurge on?

I got some scary medical news. Immediately said I want to see the best Dr on the planet. The recommended Dr is out of network. I said book it anyway. Today I am traveling out of town so that an out of network Dr can perform surgery at an out of network hospital.
by Hayden
Mon Nov 24, 2014 10:51 am
 
Forum: Personal Consumer Issues
Topic: What do you splurge on?
Replies: 237
Views: 21584

Re: My Health care monthly premiums doubled after ACA

I was buying health insurance for my small business for years. Annual increases of 20% to 50% or more every year (one year, the insurance company wouldn't quote our broker a number, just said get off our plan, because our group was expensive). This year my increase was 12%, lower than I've seen in m...
by Hayden
Mon Nov 24, 2014 10:37 am
 
Forum: Personal Finance (Not Investing)
Topic: My Health care monthly premiums doubled after ACA
Replies: 46
Views: 4134

Re: One person LLC, Solo 401k, 1 Employee - Question

How many hours per year does the employee work. Didn't know if that mattered. But it is 20 hrs/week I think that will rule out a solo 401k. And what is the reason? Solo 401ks are for businesses without employees. Some plans do seem to allow employees, if the employee works few hours. If it were me,...
by Hayden
Sun Nov 23, 2014 11:05 am
 
Forum: Investing - Help with Personal Investments
Topic: One person LLC, Solo 401k, 1 Employee - Question
Replies: 26
Views: 999

Re: One person LLC, Solo 401k, 1 Employee - Question

nkaufman wrote:
Hayden wrote:How many hours per year does the employee work.


Didn't know if that mattered. But it is 20 hrs/week


I think that will rule out a solo 401k.
by Hayden
Sun Nov 23, 2014 10:35 am
 
Forum: Investing - Help with Personal Investments
Topic: One person LLC, Solo 401k, 1 Employee - Question
Replies: 26
Views: 999

Re: One person LLC, Solo 401k, 1 Employee - Question

How many hours per year does the employee work.
by Hayden
Sun Nov 23, 2014 10:05 am
 
Forum: Investing - Help with Personal Investments
Topic: One person LLC, Solo 401k, 1 Employee - Question
Replies: 26
Views: 999

Re: S Corp question

Agree with others. Pay for an opinion from an attorney knowledgeable in this area. What does the LLC operating agreement say about dissolution and distribution of assets? What does state law say about dissolution and distribution of assets? The LLC is a legal entity formed under state law. The S Co...
by Hayden
Sat Nov 22, 2014 10:25 am
 
Forum: Personal Finance (Not Investing)
Topic: S Corp question
Replies: 10
Views: 1214

Re: S Corp question

Thanks Sosodan. As i understand it, CPA 2 believes that when both Members signed the Form 2553, we did effectively amend the operating agreement. The immediate issue is this. When i learned of this issue from CPA 2, i lost confidence in CPA 1. But, i've been with CPA 1 a long time, don't want to lea...
by Hayden
Fri Nov 21, 2014 5:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: S Corp question
Replies: 10
Views: 1214

Re: S Corp question

Sosodan: Thank you for the detailed analysis. JacobyTT: Interesting. CPA 2 says the S Corp rules control, not our documents. Jared: Here’s what other info I have. What other documents/information should I be looking at to help answer this? We filed the following forms, effective 1/1/2004: Form 8832,...
by Hayden
Fri Nov 21, 2014 3:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: S Corp question
Replies: 10
Views: 1214

S Corp question

CPA firm 1 (that I’ve been using forever) has told me one thing. I’ve now spoken with CPA 2 who has told me something completely different. If CPA 2 is correct, I’ll switch to him, but how do I know if he is correct? I’m hoping some of the S Corp scholars on the board will help me. Here’s the issue:...
by Hayden
Fri Nov 21, 2014 12:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: S Corp question
Replies: 10
Views: 1214

Re: Sole proprietor or other forms?

I have had an S Corp for many years, and closing it down is proving to be complicated. If this is just consulting income for a year or two, I personally would go the sole prop route and avoid the paperwork headaches.
by Hayden
Fri Nov 21, 2014 11:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Sole proprietor or other forms?
Replies: 7
Views: 978

Re: smartphone over wifi - still possible?

Was in Best Buy last night looking at options. Was struck by the fact that smartphones are much more expensive than tablets. I'm starting to think the best option is to carry two devices: inexpensive phone and tablet.
by Hayden
Fri Nov 21, 2014 10:58 am
 
Forum: Personal Consumer Issues
Topic: smartphone over wifi - still possible?
Replies: 31
Views: 2682

Re: What doyou splurge on?

Luxury hotels
No red-eye flights when traveling

Also, I eat out a lot. I'm not sure that's a splurge. I don't cook, and don't foresee that ever changing. Just something I factor into my budgeting.
by Hayden
Fri Nov 21, 2014 10:50 am
 
Forum: Personal Consumer Issues
Topic: What do you splurge on?
Replies: 237
Views: 21584

Re: Start a business

I was always exceedingly frugal, so was able to quit an excellent job and start a company. Then, I worked constantly. I worked a lot of hours as an employee, but it is not the same thing as the relentless demands of running a company (eg, scheduling your calendar around the requirement to run bi-wee...
by Hayden
Fri Nov 21, 2014 10:34 am
 
Forum: Investing - Theory, News & General
Topic: Start a business
Replies: 14
Views: 1678

Re: SIMPLE IRA Help for my business

If someone contributes $100, you contribute $100. If someone contributes $14,500, you match that up to a maximum of 3% of their salary. Correct, but the max annual employee contribution to a Simple IRA is $12,000 in 2014, and $12,500 in 2015. So the match would be 3% of employee income, with a cap ...
by Hayden
Sat Nov 15, 2014 10:45 am
 
Forum: Personal Finance (Not Investing)
Topic: SIMPLE IRA Help for my business
Replies: 8
Views: 857

Re: SIMPLE IRA Help for my business

If you choose the 3% match option, You match dollar for dollar, up to 3% of salary. If someone contributes $100, you contribute $100. If someone contributes $14,500, you match that up to a maximum of 3% of their salary. Since you and your wife are both employees, you are treated exactly the same as ...
by Hayden
Fri Nov 14, 2014 5:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: SIMPLE IRA Help for my business
Replies: 8
Views: 857

Re: Solo 401(K) Dormancy and Permanency Risk?

Fidelity raised this issue with me when I spoke with them about opening a solo 401k. I told them that I know I have consulting income in 2014 and 2015, but no one ( well, not most people), can know for sure whether they will have income in 2016. That is simply not a realistic requirement. Is this re...
by Hayden
Wed Nov 12, 2014 9:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Solo 401(K) Dormancy and Permanency Risk?
Replies: 6
Views: 959

Re: Part Time Work in Tech Fields - Early Retirement

There are a lot of technical retirees who want to keep working at a low level. There are contracting companies that specialize in this. Sounds like that would be a good fit for you. Suggest you research the contracting companies that cover your technical field.
by Hayden
Fri Nov 07, 2014 2:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Part Time Work in Tech Fields - Early Retirement
Replies: 12
Views: 1889

Re: Netflix: how long broken?

We have problems with Netflix frequently. Restarting Apple TV usually fixes it.
by Hayden
Tue Nov 04, 2014 9:16 am
 
Forum: Personal Consumer Issues
Topic: Netflix: how long broken?
Replies: 13
Views: 2166

Re: Kitchen Cabinets

We hired someone to repaint our cabinets and they look incredible. I've seen lots of cabinet paint jobs that don't look good. So, maybe it depends on the expertise of the person you hire.
by Hayden
Tue Nov 04, 2014 9:13 am
 
Forum: Personal Consumer Issues
Topic: Kitchen Cabinets
Replies: 11
Views: 1452

Re: Solo Physician Practice

You'll probably want to pay an accountant to do the S Corp taxes. That expense would be offset by the tax savings from having an S Corp. how much annual income do you project?
by Hayden
Mon Nov 03, 2014 9:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo Physician Practice
Replies: 13
Views: 2039

Re: Distribution in excess of basis

I'm sure your CPA has the technical skills and knowledge to handle your s-corp's taxes, so I wouldn't worry too much about him messing up your tax returns. Two way communication is extremely important though so if you don't have a good relationship you might want to find someone else to work with. ...
by Hayden
Thu Oct 30, 2014 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Distribution in excess of basis
Replies: 11
Views: 674

Re: Distribution in excess of basis

Here is some information that may help you understand your situation better: http://www.journalofaccountancy.com/issues/2004/nov/avoidthetaxtrapwhenrepayingshareholderloans.htm You will want to talk with a CPA who can explain this situation to you and the various options that you can decide on. You...
by Hayden
Thu Oct 30, 2014 10:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Distribution in excess of basis
Replies: 11
Views: 674

Re: SEP IRA for Sole Propietorship + Simple IRA at W2 employ

SEP IRA plans have mostly been replaced by Solo 401K. I believe you can have both an employer based Simple IRA and a Solo 401K at the same time. If you are with Fidelity, they can tell you for sure if you call and ask for the retirement advisors (may need a substantial account with them to reach th...
by Hayden
Thu Oct 30, 2014 8:48 am
 
Forum: Personal Finance (Not Investing)
Topic: SEP IRA for Sole Propietorship + Simple IRA at W2 employer
Replies: 11
Views: 543

Re: Distribution in excess of basis

It depends it terms of was cash contributed. Did you take out a personal loan and put the proceeds in the business? Unfortunately, with the complexity involved, you are going to need to meet with your accountant to better understand it or engage the services of a different CPA. I transferred my Van...
by Hayden
Thu Oct 30, 2014 8:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Distribution in excess of basis
Replies: 11
Views: 674

Re: Distribution in excess of basis

There is stock basis and debt basis. Do you have both? Essentially distributions in excess of basis are taxable at capital gains rates. Thanks for the response. Your question is beyond my abilities. Here is how I got into this situation. The LLC was taxes as a partnership. I put over $400k into the...
by Hayden
Thu Oct 30, 2014 8:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Distribution in excess of basis
Replies: 11
Views: 674

Re: Distribution in excess of basis

Well, I've gotten no responses, sImilar to the lack of response when I ask my accountant this question. What am I missing? Or does this require some particular expertise? If so, who do I need to help me unwind this? Do I need to find a tax attorney, or a different accountant? I'm hoping someone here...
by Hayden
Thu Oct 30, 2014 8:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Distribution in excess of basis
Replies: 11
Views: 674
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