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Re: "At Vanguard my voice is my password"

I also used my voice as my password and the system worked as advertised. It worked even when my voice was slightly altered due to seasonal allergy.

This is one aspect that Vanguard is ahead of the curve.
by HueyLD
Wed Apr 16, 2014 9:21 pm
 
Forum: Personal Consumer Issues
Topic: "At Vanguard my voice is my password"
Replies: 18
Views: 1674

Re: Tax Efficient "Gifting" for K-12 private school tuition

I suppose if it's a nonprofit school, she could somehow work with the school to set this up as a donation designated as a very targeted scholarship, but not sure if that's legal. The school is in California, and the kids are middle and high school age. I don't know about CA, but such a practice is ...
by HueyLD
Wed Apr 16, 2014 1:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Efficient "Gifting" for K-12 private school tuition
Replies: 15
Views: 734

Re: Options used to fund ROTH after retirement?

papiper, I can assure you they do count. The safe harbor for IRA contributions with respect to W2 income is Box 1 less Box 11. My option profits (NSO's) show up in Box 1 on a W-2 from my former employer. I make sure to exercise enough options each year to realize $13,000 of income to cover Roth for...
by HueyLD
Tue Apr 15, 2014 6:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Options used to fund ROTH after retirement?
Replies: 11
Views: 537

Re: Estimated taxes on capital gains later offset by losses

I sometimes have to "chastise" my preparers for not reading the words on the form they are completing (electronically). I would guess that more than half the time, the words on the form answer the question that they pose to me. It appears that very few people bother to read anything anymo...
by HueyLD
Tue Apr 15, 2014 11:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Estimated taxes on capital gains later offset by losses
Replies: 7
Views: 487

Re: Need advice on Roof damage and Homeowners Insurance

Recently, high winds blew off several rows shingles but only on one slope of our roof. The roof is about 14 years old. Our homeowners insurance said they would pay to replace the shingles on that entire slope. The problem is that the current asphalt shingles are 14 years old so the rest of the roof...
by HueyLD
Mon Apr 14, 2014 12:11 pm
 
Forum: Personal Consumer Issues
Topic: Need advice on Roof damage and Homeowners Insurance
Replies: 6
Views: 391

Re: Speculation on I Bond fixed rate for May 1st

I am not Bond, the I Bond Mel. However, I expect the new I bond fixed rate to be no greater than 0.2%. Since I don't want to lose up to $20/year, I will invest my annual limit by 4/30. Hey, $20/year x 30 years is $600 more dollars to spent on Latte.
by HueyLD
Sat Apr 12, 2014 6:42 pm
 
Forum: Investing - Theory, News & General
Topic: Speculation on I Bond fixed rate for May 1st
Replies: 17
Views: 2064

Re: A few Tax Act questions - nothing too complex

I was able to find answers to my first 2 questions. Any help with #3? 3. This is my first time filing for an extension. I'm aware I need to pay any taxes by April 15th to avoid penalties. I've completed my taxes aside from the questions above, and Tax Act says I'm getting refunds for $851 (federal)...
by HueyLD
Sat Apr 12, 2014 5:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: A few Tax Act questions - nothing too complex
Replies: 3
Views: 185

Re: Tax Question: How to Depreciate Water Heater?

Table 1-1 shows examples of improvements that are not considered "repairs." The grouping is there for presentation purposes. Table 2-1 actually tells you which recovery period to use for what item. Don't be confused. If I were your CPA, I would use the 5-year recovery period for H2O heater...
by HueyLD
Sat Apr 12, 2014 5:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Question: How to Depreciate Water Heater?
Replies: 16
Views: 847

Re: Speculation on I Bond fixed rate for May 1st

Dale_G wrote:Zero fixed rate - and it will likely stay there for a while. Why should the Treasury pay any real return if they don't have to?

Where is Bond, the I bond Mel?
by HueyLD
Sat Apr 12, 2014 5:20 pm
 
Forum: Investing - Theory, News & General
Topic: Speculation on I Bond fixed rate for May 1st
Replies: 17
Views: 2064

Re: Tax Question: How to Depreciate Water Heater?

Peter, Take a look at page 8 again and it has a definition for "residential rental property." I understand your confusion, but that category is reserved for building or structure related items that cannot be separated from the building/structure and includes such items an pipes, furnaces, ...
by HueyLD
Sat Apr 12, 2014 5:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Question: How to Depreciate Water Heater?
Replies: 16
Views: 847

Re: Contradictory IRS Rules

Rickwmm, You have a very good understanding of the partial rental tax reporting. Based on your posts, it appears that you rented out the rooms with the intent to make money. Since your rental activity is for profit and you have actively participated in the activity, you should be allowed up to 25k o...
by HueyLD
Sat Apr 12, 2014 4:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Contradictory IRS Rules
Replies: 7
Views: 820

Re: Tax Question: How to Depreciate Water Heater?

Use the 5-year GDS recovery period. See Pub 527 page 8.
by HueyLD
Sat Apr 12, 2014 4:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Question: How to Depreciate Water Heater?
Replies: 16
Views: 847

Re: Why does Vanguard use average return iso compound annual

Frans, Many moons ago, mutual fund companies were free to advertise whichever return numbers they cherry picked to their advantage. As a result of such advertising tactics, investors were confused and were not able to compare the returns among different mutual funds without doing lots of digging on ...
by HueyLD
Sat Apr 12, 2014 3:33 am
 
Forum: Investing - Theory, News & General
Topic: Why does Vanguard use average return iso compound annual?
Replies: 99
Views: 4077

Re: Stock markets in free fall?

Whatever happened to the "why not 100% equity threads?"
by HueyLD
Fri Apr 11, 2014 9:26 pm
 
Forum: Investing - Theory, News & General
Topic: Stock markets in free fall?
Replies: 92
Views: 6486

Re: Passport validity: Do I need at least 6 months?

VictoriaF wrote:I am giving in to the peer pressure and will start my application shortly,

I wholeheartedly approve your receptiveness to the community pressure. :D
by HueyLD
Fri Apr 11, 2014 11:13 am
 
Forum: Personal Consumer Issues
Topic: Passport validity: Do I need at least 6 months?
Replies: 40
Views: 1506

Re: Passport validity: Do I need at least 6 months?

I know a family member who was not allowed to leave a country until a new passport was obtained because the old passport was expiring in a few months. It caused him a lot of money and stress in addition to having to call his boss in SFO to extend the leave. Fortunately the country was a stable and f...
by HueyLD
Fri Apr 11, 2014 12:33 am
 
Forum: Personal Consumer Issues
Topic: Passport validity: Do I need at least 6 months?
Replies: 40
Views: 1506

Re: I saw a "Boglehead" on my flight yesterday!

I won a Vanguard coffee cup and used it to drink coffee while preparing tax returns for others. Several (smart) people were impressed and wanted to know where they could get theirs. I did not reveal the "how to" part. :)
by HueyLD
Thu Apr 10, 2014 6:28 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: I saw a "Boglehead" on my flight yesterday!
Replies: 65
Views: 7443

Re: California Taxes - Am I Missing Something?

What nobody tells you about living near the beach, not even at the beach, is that you won't see the sun before 11am for two months in May and June. No thank you. No sun until 11 a.m.? No problem. You will have more time to walk/run along the Pacific Ocean without worrying about getting skin cancer....
by HueyLD
Tue Apr 08, 2014 2:55 am
 
Forum: Personal Finance (Not Investing)
Topic: California Taxes - Am I Missing Something?
Replies: 142
Views: 7734

Re: W2 for life insurance : SS earnings? IRA?

Victoria, If the amount is reported in box 1 of W-2 and is not considered a nonqualified deferred compensation (with amount shown in box 11 of the W-2, you can use it as IRA contribution basis. Obviously, the W-2 is generated mainly for you for pay your share of uncollected SS and Medicare taxes. Th...
by HueyLD
Mon Mar 31, 2014 7:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: W2 for life insurance : SS earnings? IRA?
Replies: 14
Views: 543

Re: Retired: When to move?

I am moving to Tucson in the coming months. I was attracted by warm weather, cultural opportunities, lot of great hiking opportunities, and the availability of a major university with the cultural opportunities. I would not be honest if I did not say that I prefer to retire in lower COL area. The t...
by HueyLD
Mon Mar 31, 2014 6:03 pm
 
Forum: Personal Consumer Issues
Topic: Retired: When to move?
Replies: 43
Views: 3976

Re: Retired: When to move?

I don't fit here very well any more, so there's not much possible downside. That statement appears to be enough reason for you to move as soon as possible. It makes a huge difference to live in a community you want and feel welcome. Forget about low cost. Instead, you should strive for a balance of...
by HueyLD
Mon Mar 31, 2014 5:55 pm
 
Forum: Personal Consumer Issues
Topic: Retired: When to move?
Replies: 43
Views: 3976

Re: Frugal Fatigue

Is the word ramen defined differently where you live than where I live? Where I live, there are lines on the sidewalk outside the ramen shops I go to. Maybe you aren't talking about ramen, but about dried noodles in a cup covered with a months supply of sodium and MSG. Note that Top Ramen comes in ...
by HueyLD
Sat Mar 29, 2014 5:00 pm
 
Forum: Personal Consumer Issues
Topic: Frugal Fatigue
Replies: 96
Views: 9692

Re: Quick 1099B question

I sold a couple of mutual funds last year as part of the exercise of getting rid of all extraneous funds. Although they were both single transactions (sold 325 and 20 odd shares), it shows up on my 1099B as 22 different transactions. All have the same date of transaction and Cusip with varying quan...
by HueyLD
Tue Mar 25, 2014 8:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Quick 1099B question
Replies: 9
Views: 284

Re: Tax exempt bond funds in taxable?

Professor sscritic,

The TEY calculation is merely an approximation, not something set in stone. Please give those of us who are mathematically challenged a break. Thank you.
by HueyLD
Sat Mar 22, 2014 9:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tax exempt bond funds in taxable?
Replies: 18
Views: 1345

Re: State Farm or Allstate

One cautionary tale about Allstate. I switched all my business to them after getting a low quote, only to have my homeowner's rate retroactively increased by 20% about 4 months later, following a visit from Allstate's appraiser. The appraiser's valuation of my house was much higher than the valuati...
by HueyLD
Sat Mar 22, 2014 9:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: State Farm or Allstate
Replies: 26
Views: 1806

Re: When does depreciating a rental property save on taxes?

Taxwise, it seems optimal to keep property that is beyond capital gains exclusion and get rental income for the retirement years and let the heir sell it due to lesser taxation? It depends on your individual situation. If the gain in excess of $250k/$500k Sec. 121 exclusion is large, it may be bett...
by HueyLD
Sat Mar 22, 2014 5:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: When does depreciating a rental property save on taxes?
Replies: 70
Views: 4266

Re: Tax Question:1099-C

My SIL was the trustee for the estate of MIL. MIL passed away in 2011 few years after her husband. The house was under water (San Diego/Carlsbad real estate). House went into foreclosure. SIL received a 1099-C from the IRS and she is concerned that taxes are owed. Any suggestions or advice? What ot...
by HueyLD
Sat Mar 22, 2014 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Question:1099-C
Replies: 5
Views: 349

Re: How to help my son with law school loans?

Bob's not my name wrote:Gift the stock to your son if he will pay capital gains tax at a lower rate.

+1!
by HueyLD
Sat Mar 22, 2014 4:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to help my son with law school loans?
Replies: 58
Views: 2707

Re: When does depreciating a rental property save on taxes?

I believe the depreciation recapture is a flat 25% rate. If I recall correctly there. So, if the full amount (per schedule) has been claimed, 25% of that will be recaptured. Or, even if only a partial amount has been claimed in let's say 5 years, still 25% of that recaptured. It is NOT 25%, it is t...
by HueyLD
Sat Mar 22, 2014 4:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: When does depreciating a rental property save on taxes?
Replies: 70
Views: 4266

Re: Help me settle a debate -- Risk in Retirement

Here is the scenario: Let's say my wife and I make it to retirement as healthy spry 65 year olds. For the sake of argument, let's say we have $3M saved. Let's say our income from pensions, rental property, and SS more than covers our cost of living -- so we're not pulling from our savings at all. T...
by HueyLD
Fri Mar 21, 2014 6:15 pm
 
Forum: Investing - Theory, News & General
Topic: Help me settle a debate -- Risk in Retirement
Replies: 61
Views: 4214

Re: IRS Sales Tax Deduction

I think your tax software is wrong. Which software is it? TT, HRB or TA?
by HueyLD
Fri Mar 21, 2014 2:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRS Sales Tax Deduction
Replies: 6
Views: 519

Re: HOA lawyer sends threatening letter, need advice

Do you have a copy of the CC&Rs? You should read it first to learn your rights. Depending on the state law, you may have various options. In my state, the HOA must go through a due process (such as at least three written notices) to allow you plenty of time to appeal and remedy the "violati...
by HueyLD
Wed Mar 19, 2014 6:37 pm
 
Forum: Personal Consumer Issues
Topic: HOA lawyer sends threatening letter, need advice
Replies: 46
Views: 4226

Re: Help deciding to surrender Variable Annuity or not

At 33% marginal tax rate, your parents may have maxed out their tax deferred space and a VA appears to be a legitimate vehicle to create more tax deferred room.

I don't see any need to sell the VA. If they indeed want to sell it, they should wait until age 59 1/2 to avoid the 10% penalty.
by HueyLD
Wed Mar 19, 2014 6:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help deciding to surrender Variable Annuity or not
Replies: 22
Views: 1079

Re: Standard Vs Itemized Deductions- Please help

A_C_E wrote:Another question: I can force Turbo tax to choose SD for federal but it defaults to Item. deduction for state (AZ) and doesn't give me a choice to choose SD for state as well: Any idea how to do it?


Go to AZ Form 140 and check the standard deduction box via an override.
by HueyLD
Wed Mar 19, 2014 2:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Standard Vs Itemized Deductions- Please help
Replies: 5
Views: 735

Re: Standard Vs Itemized Deductions- Please help

grabiner wrote:If your only significant deduction is state income tax, then you probably do want to take the AZ standard deduction, since you can't deduct state income tax on your AZ return.

Not so. The state of AZ allows you to deduct the greater of state income taxes paid or sales tax.
by HueyLD
Wed Mar 19, 2014 2:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Standard Vs Itemized Deductions- Please help
Replies: 5
Views: 735

Re: Professions that have the most/least psychopaths

Thanks a lot Victoria. It's nice to know that I am in an occupation with very few psychos.
by HueyLD
Wed Mar 19, 2014 1:09 pm
 
Forum: Personal Consumer Issues
Topic: Professions that have the most/least psychopaths
Replies: 30
Views: 1984

Re: Flagship Rep called me

It is impossible to have much privacy in this environment where virtually everything can be tracked by somebody. I used to get phone calls after participating in a webinar. I informed the caller politely that I didn't like unsolicited phone calls because I had no way of verifying their identity and ...
by HueyLD
Tue Mar 18, 2014 2:08 pm
 
Forum: Personal Consumer Issues
Topic: Flagship Rep called me
Replies: 22
Views: 4285

Re: Your thoughts on vacation home or second home

There are a lot of second home owners in my area, but those people want to come to the same area every year for about six months stay. Unless you want to do the same, renting is definitely much better as in less financial burden and lower stress.
by HueyLD
Tue Mar 18, 2014 12:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Your thoughts on vacation home or second home
Replies: 61
Views: 3600

Re: Short Sale

Don't assume anything. Here are the forms, instructions and publication that relate to short sale. http://www.irs.gov/pub/irs-pdf/f1099a.pdf http://www.irs.gov/pub/irs-pdf/f1099c.pdf http://www.irs.gov/pub/irs-pdf/i1099ac.pdf http://www.irs.gov/pub/irs-pdf/p4681.pdf In other words, short sale is a c...
by HueyLD
Tue Mar 18, 2014 12:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Short Sale
Replies: 4
Views: 531

Re: Reverse mortgage as retirement emergency funding?

I have a question regarding another potential benefit of having a reverse mortgage. .... If we obtain a reverse mortgage on the second home (now primary residence) and live there until we pass, would the home go back to the bank if it couldn't be sold? "Reverse mortgage lenders often give heir...
by HueyLD
Mon Mar 17, 2014 9:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reverse mortgage as retirement emergency funding?
Replies: 15
Views: 925

Re: Girlfriend pays rent - tax filing (Schedule E or elsewhe

I'm in the process of filing my taxes for 2013. I own a condo in San Diego. Last year, my girlfriend paid me about $3,000 in rent, which is below market rate. If I'm able to report this as rental income and file it on schedule E, it works out advantageously for me. I can claim my mortgage interest ...
by HueyLD
Mon Mar 17, 2014 7:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Girlfriend pays rent - tax filing (Schedule E or elsewhere?)
Replies: 10
Views: 1399

Re: Reverse mortgage as retirement emergency funding?

I suppose if they have enough equity left in the house they can sell it to repay the loan when they move out. But what if they don't? Well, the deficit will be paid by the FHA (the gov agency that guarantees the reverse mortgage) if the reverse mortgage is insured by the FHA. http://www.consumerfin...
by HueyLD
Mon Mar 17, 2014 4:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reverse mortgage as retirement emergency funding?
Replies: 15
Views: 925

Re: Reverse mortgage as retirement emergency funding?

Also I wonder (someone tell me if I'm right or wrong) if it's possible to use up the entire amount of the approved loan. If so, might it be possible he might have to vacate because without the extra mortgage payments he can no longer afford the home? One can remain in the home until he moves out or...
by HueyLD
Mon Mar 17, 2014 3:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Reverse mortgage as retirement emergency funding?
Replies: 15
Views: 925

Re: Affordable Care Act Open Enrollment

According to this article ( http://voices.yahoo.com/how-does-obamacare-affect-americans-living-abroad-12246047.html ): "If you're living outside the US, you don't have to purchase health insurance by the end of March, 2014, through what will be the newly established health insurance marketplace...
by HueyLD
Sat Mar 15, 2014 8:52 pm
 
Forum: Personal Consumer Issues
Topic: Affordable Care Act Open Enrollment
Replies: 1
Views: 244

Re: 3 Big Questions to Ask an Adviser

I am a firm believer that advisors and investment experts should eat their own cooking. That is they should invest in the same things that are recommended to their clients. I don't agree with such a broad statement. A good investment advisor should recommend appropriate investments based on each cl...
by HueyLD
Sat Mar 15, 2014 2:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: 3 Big Questions to Ask an Adviser
Replies: 34
Views: 2644

Re: Was frugality a mistake? The downsides of saving too mu

This is not about a Vanguard account balance and frugality. It is about choices that have been made and a world view that's been chosen. Many of my friends are extraordinarily wealthy and many friends are barely scraping by. The least advantaged group often have an enviable flare and enjoy life to ...
by HueyLD
Sat Mar 15, 2014 2:06 pm
 
Forum: Personal Consumer Issues
Topic: Was frugality a mistake? The downsides of saving too much.
Replies: 115
Views: 8770

Re: Dividends Taxed Differently ?

sscritic wrote:So yes, take the dividends because of the more complicated tax return, not because you will always have gains if you take shares and sell. You have roughly an equal chance of having a loss on your sale. Again, this assumes you are not fixated on having exactly X to spend.

+1
by HueyLD
Sat Mar 15, 2014 10:33 am
 
Forum: Investing - Help with Personal Investments
Topic: Dividends Taxed Differently ?
Replies: 24
Views: 1163

Re: Please help: Whats out tax filing status?

Question: I have an H-1B Visa and my husband has an F-1 Visa. We both lived in the United States all of last year and had income. What kind of form should we file? Do we file separate returns or a joint return? Answer: Assuming both of you had these visas for all of last year, you are a resident al...
by HueyLD
Thu Mar 13, 2014 10:38 am
 
Forum: Personal Consumer Issues
Topic: Please help: Whats out tax filing status?
Replies: 4
Views: 349

Re: Amazon Prime Increase

sscritic wrote:Bogleheads is a wealth of information, but only if you read and can remember.

What if I can neither read nor remember? Am I allowed to ask questions then?
by HueyLD
Thu Mar 13, 2014 9:07 am
 
Forum: Personal Consumer Issues
Topic: Amazon Prime Increase
Replies: 185
Views: 7599

Re: Federal deferred FERS retirement, TCC and FEHB

I understand the confusion between the words postponed and deferred. The article does differentiate the two. It says that if you are eligible for an immediate annuity, you may choose to postpone it to avoid a reduction in pension amount. As such, you are eligible for the FEHB when you start your pen...
by HueyLD
Wed Mar 12, 2014 7:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Federal deferred FERS retirement, TCC and FEHB
Replies: 10
Views: 550
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