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Re: Paying Medicare premiums with FSA

Did you not read the previous two posts? Tax advantaged accounts such as FSA and HSA have special restrictions as to what the funds can be used for.

Again, one cannot use FSA money to pay for insurance premiums.
by HueyLD
Tue Nov 25, 2014 9:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying Medicare premiums with FSA
Replies: 6
Views: 509

Re: Paying Medicare premiums with FSA

Can one use FSA (Flex Spending Account) money to pay Medicare Part D & Medigap (Medicare supplement Insurance) premiums? Tried to get answers from the IRS, but can't connect with anyone. My employer's FSA company claims I can, but am not certain I trust their answer. It will make a major differ...
by HueyLD
Tue Nov 25, 2014 8:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying Medicare premiums with FSA
Replies: 6
Views: 509

Re: Turbo Tax - Returns for different people & different sta

The Schedule D reporting rules have changed again for year 2014. From the IRS Pub 4012: Exception to Entering Each Transaction on a Separate Row When a taxpayer’s Form 1099-B includes so many transactions that it is not practical to enter each one, use the following procedure. 1. Divide the transact...
by HueyLD
Tue Nov 25, 2014 2:21 pm
 
Forum: Personal Consumer Issues
Topic: Turbo Tax - Returns for different people & different states
Replies: 6
Views: 623

Re: Did I overcontribute to my HSA? What do I do now?

Since the amount of over-contribution is only approx. $450, the 6% penalty on $450 is $27 which is only $2 over the withdrawal fee for the excess. You can contribute $450 less than the year 2015 max of $6650 and fix the problem in two years. In other words, go ahead and pay $27 of penalty for year 2...
by HueyLD
Mon Nov 24, 2014 4:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did I overcontribute to my HSA? What do I do now?
Replies: 7
Views: 534

Re: What percent "Boglehead" are you?

91.1357924680 calculated by a proprietary method.
by HueyLD
Sat Nov 22, 2014 1:52 pm
 
Forum: Investing - Theory, News & General
Topic: What percent "Boglehead" are you?
Replies: 119
Views: 6283

Re: Best book on Medicare?

Medicare & You. http://www.medicare.gov/Pubs/pdf/10050.pdf

You can pick up a paper copy at your local SSA office.
by HueyLD
Sat Nov 22, 2014 11:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Best book on Medicare?
Replies: 3
Views: 458

Re: Jim Cramer dad & LTCI

I assisted a client and a friend on filing for their LTC benefits after qualifying events. In each case, the LTC insurance company paid as agreed. It didn't hurt that my state requires an independent third party to be involved in every LTC claim. As with every situation, facts matter. FWIW, I have n...
by HueyLD
Sat Nov 22, 2014 10:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Jim Cramer Dad & LTCI
Replies: 30
Views: 3408

Re: Help with OpenOffice Calc Please

You need to use ; (semicolon) instead of , (comma).
by HueyLD
Wed Nov 19, 2014 8:50 pm
 
Forum: Personal Consumer Issues
Topic: Help with OpenOffice Calc Please
Replies: 2
Views: 447

Re: Former Employer Won't Refund Excess 401K Contribution

Are there any IRS docs that you can point me to that provide the relevant IRS policy for this situation? http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics---What-Happens-When-an-Employee-has-Elective-Deferrals-in-Excess-of-the-Limits%3F If an employee's total deferral...
by HueyLD
Wed Nov 19, 2014 5:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Former Employer Won't Refund Excess 401K Contribution
Replies: 5
Views: 1206

Re: health care subsidy technicality

Awesome! Definitely sounds like I can include my son in the calculation. Just hope that when tax time comes around the tax forms will agree since he will not be showing up on my 1040 as a dependent. He will be filing his own tax return. Make sure you read the link to the draft form 8962. Being able...
by HueyLD
Wed Nov 19, 2014 1:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: health care subsidy technicality
Replies: 6
Views: 660

Re: Dealing with pressure for "social donations" at work

This kind of crap is so prevalent in Corporation America. Where I used to work, the CEO decided that 100% participation in donations to the United Way was the corporate goal and each supervisor/manager was told to "make sure" that we met that goal. And those who refused to help the company...
by HueyLD
Thu Nov 13, 2014 3:28 pm
 
Forum: Personal Consumer Issues
Topic: Dealing with pressure for "social donations" at work
Replies: 167
Views: 9412

Re: Obligation to Parents?

I come from an Asian background and my husband is white. My parents were frugal and managed to save up over a million for retirement on a blue collar salary. So yes, you could say there were responsible. However, due to my sibling basically defrauding them of all their money, and then some serious ...
by HueyLD
Thu Nov 13, 2014 2:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Obligation to Parents?
Replies: 77
Views: 3863

Re: Federal Employees: BCBS Basic or GEHA HDHP Health Insura

As a note the math entirely falls apart if you hit catastrophic limits on the HDHP, no amount of tax benefits makes it a better choice than the BCBS or other similar plans. Let's hope that is rare! Could you please elaborate? I'm not quite sure if I understand all the terminology correctly. Thanks....
by HueyLD
Thu Nov 06, 2014 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Federal Employees: BCBS Basic or GEHA HDHP Health Insurance?
Replies: 40
Views: 2293

Re: Tax Benefits of a house

we got our house late last year, and learned that with just a few months of interest payments, it made our itemized deduction just barely equal our standard deduction. But for this year, with a full year of mortgage payments, we'll be itemizing like crazy. Easy Rhino, Did you add PMI paid (if any) ...
by HueyLD
Thu Nov 06, 2014 1:42 pm
 
Forum: Personal Consumer Issues
Topic: Tax Benefits of a house
Replies: 12
Views: 1489

Re: Any Legal ways to lower MAGI for ACA signup?

Doesn't MAGI add back in contributions to retirement plans?

No.

Muni bond fund interest is tax-exempt, but does it show up under MAGI ?

Yes.
by HueyLD
Mon Nov 03, 2014 11:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Any Legal ways to lower MAGI for ACA signup?
Replies: 34
Views: 4210

Re: Prudent Investment Portfolio for 58-year Old w/20M Net W

Kenner, Did your friend sign a written agreement and promise not to sue you when and if he should lose a lot of money based on your advice? Do you have a license to provide investment advice? With his wealth and lack of knowledge, there is a possibility that he could sue you at some point. Please be...
by HueyLD
Tue Oct 28, 2014 1:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Prudent Investment Portfolio for 58-year Old w/20M Net Worth
Replies: 39
Views: 4808

Re: Why do Engineers Think They’ll Be Good at Picking Stocks

To OP: I think as engineers we develop an unconscious tendency towards trying to reduce every system down to a few control variables, and then try to use those few variables to control or predict the system's behavior. That's mostly what we are trained to do. Where we go wrong is in identifying ver...
by HueyLD
Sun Oct 26, 2014 10:16 am
 
Forum: Investing - Theory, News & General
Topic: Why do Engineers Think They’ll Be Good at Picking Stocks?
Replies: 135
Views: 10661

Re: "Outrigger" bank account with a TIRA: not possible?

If the bank sends a check payable to Vanguard FBO Nisi's account, it is a direct transfer.

If the check is made payable to you and you deposit it into your VG account, it is a rollover and you can only have one rollover within a one-year period.
by HueyLD
Fri Oct 17, 2014 3:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: "Outrigger" bank account with a TIRA: not possible?
Replies: 2
Views: 247

Re: Switching Medigap Policies - Confused

I have been on a Medigap, Part G, policy with Wisconsin Physicians Service (WPS) since January 2014. If I want to switch my Medigap coverage during the current open enrollment period to another insurance company, are pre-existing conditions a factor for my getting coverage with the new company, or ...
by HueyLD
Fri Oct 17, 2014 11:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Switching Medigap Policies - Confused
Replies: 4
Views: 322

Re: Paid back Social Security

Hi, I did a withdrawal of ss benefits earlier this year after starting benefits in April 2013. Which tax forms and publications am I going to need to do my taxes next year? See IRS Pub 915. In summary, if the amount shown on your Form SSA-1099 is a negative number, you can claim an itemized deducti...
by HueyLD
Tue Oct 14, 2014 2:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid back Social Security
Replies: 3
Views: 622

Re: Long term care insurance sweet spot

I understand the sweet spot as far as net worth for the purchase of this type of insurance, but is there a sweet spot for your age to consider when is a good time to purchase ? Any published data or papers on what to consider ? (health, interest rate at the time etc.) If you think you may need/want...
by HueyLD
Mon Oct 13, 2014 2:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance sweet spot
Replies: 5
Views: 725

Re: Building a New House, Advice please.

One item that has not been mentioned. If you purchase the materials to build a home and pay the sales tax directly, you can deduct the sales tax as an itemized deduction. Keep good records. I believe you can deduct either state income tax paid OR state sales tax but not both. Yes, I assumed that th...
by HueyLD
Mon Oct 13, 2014 10:44 am
 
Forum: Personal Consumer Issues
Topic: Building a New House, Advice please.
Replies: 66
Views: 5871

Re: Building a New House, Advice please.

One item that has not been mentioned.

If you purchase the materials to build a home and pay the sales tax directly, you can deduct the sales tax as an itemized deduction. Keep good records.
by HueyLD
Sun Oct 12, 2014 9:54 am
 
Forum: Personal Consumer Issues
Topic: Building a New House, Advice please.
Replies: 66
Views: 5871

Re: Vanguard Fund Purchase Fee

No, but the fee is included in your basis.
by HueyLD
Thu Oct 09, 2014 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard Fund Purchase Fee
Replies: 2
Views: 421

Re: Car Accident Responsibility for Borrowed Cars

When I was with State Farm, I wanted to give my nephew permission to drive my car for the duration of his visit. My agent said it was fine, but any at fault accident would be charged to my insurance. IOW, my insurance premium would go up should he get into any chargeable accident. Proceed with cauti...
by HueyLD
Mon Sep 22, 2014 4:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Car Accident Responsibility for Borrowed Cars
Replies: 13
Views: 957

Re: Vanguard Lost $50k

Here is my educated guess. Someone in Vanguard back office accidentally processed several batches of ACH transactions twice. The mistakes will be fixed in due time. However, I am troubled by the poor responses from phone reps. Years ago, Fidelity ran ACH transactions twice and the amount was taken f...
by HueyLD
Sat Sep 06, 2014 12:24 pm
 
Forum: Personal Consumer Issues
Topic: Vanguard Lost $50k
Replies: 103
Views: 10854

Re: Issues with home inspector?

There is a high probability that your home inspector will not return your call. The lesson here is that one should not hire a home inspector recommended by the realtor because the inspector isn't going to do anything to mess up his revenue source. Even if you hire someone on your own, there is still...
by HueyLD
Fri Sep 05, 2014 11:20 am
 
Forum: Personal Consumer Issues
Topic: Issues with home inspector?
Replies: 24
Views: 1155

Re: Do I Even Need a Trust?

hoops777 wrote:Thank you HueyLD.....They also do not allow TOD on retirement accts.where most of our investments are.

On retirement accounts, you can designate primary beneficiaries and contingent beneficiaries.
by HueyLD
Thu Sep 04, 2014 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I Even Need a Trust?
Replies: 31
Views: 2038

Re: Do I Even Need a Trust?

I think the OP needs to google some more and he will find that TOD is not allowed on Vanguard joint accounts. In addition, California is not among the states that allow a TOD deed. I have no financial interest in this discussion, but estate planning should be done wth best paid help one can afford u...
by HueyLD
Thu Sep 04, 2014 3:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I Even Need a Trust?
Replies: 31
Views: 2038

Re: Ideas for thanking a doctor

obgraham wrote:If you feel the need to give a material gift, a restaurant gift card is never declined!

But you would have to ask the doc for his/her favorite restaurant.
by HueyLD
Sat Aug 30, 2014 4:39 pm
 
Forum: Personal Consumer Issues
Topic: Ideas for thanking a doctor
Replies: 75
Views: 5417

Re: Costco:is it worth it for just two people?

We're a retired couple with an Executive membership that pays for itself every year. We do 80% of our food shopping there, along with some clothes, glasses, pills, paper products, electronics, tools and gasoline, and it saves us money and offers a convenient shopping experience. Oh, and a $1.50 hot...
by HueyLD
Sat Aug 30, 2014 12:14 pm
 
Forum: Personal Consumer Issues
Topic: Costco:is it worth it for just two people?
Replies: 143
Views: 12773

Re: Auto accident today

camper wrote:Police will not show for auto accidents where I live unless there is a medical emergency. Neither one of us had been in an accident before so he actually did call the police. They told him just to exchange insurance info.

Really? What part of the metro was it?
by HueyLD
Tue Aug 26, 2014 11:24 am
 
Forum: Personal Consumer Issues
Topic: Auto accident today
Replies: 33
Views: 2753

Re: Callable municipal bonds

With 4-5% coupons, it is highly likely that those bonds will be called at the first callable dates. You need to get ready to redeploy your cash and it won't hurt to get started a few months before the callable dates.
by HueyLD
Mon Aug 25, 2014 1:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Callable municipal bonds
Replies: 6
Views: 460

Re: Smartphone recommendations for under $200

Buying additional minutes, say 400, will result in 1,200 minutes, 1,200 messages and 1,200 MBs being added. Do you get voice, text and data minutes separately by buying one 400-minute card? Or do you have to buy three 400-minute cards? It has very good sound quality, and a nice speakerphone. Has Wi...
by HueyLD
Mon Aug 25, 2014 1:05 pm
 
Forum: Personal Consumer Issues
Topic: Smartphone recommendations for under $200
Replies: 24
Views: 2218

Re: Telling my friends I paid off my houses was a mistake.

You don't need a link. Rather, you need new friends.

Congrats.
by HueyLD
Mon Aug 25, 2014 12:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Telling my friends I paid off my house was a mistake.
Replies: 73
Views: 10663

Re: Transfer on Death (TOD) for Vanguard taxable accounts

Take a look at what Vanguard says: "The Transfer on Death Plan is a straightforward way to designate beneficiaries for certain Vanguard nonretirement mutual fund and/or brokerage accounts. The plan was established through Pennsylvania’s Uniform Transfer on Death Act and is available to investor...
by HueyLD
Sun Aug 24, 2014 3:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Transfer on Death (TOD) for Vanguard taxable accounts
Replies: 23
Views: 2430

Re: No room on your Windows hard drive? Cleanup Update files

LadyGeek,

Does the fix work on Windows Vista?
by HueyLD
Sat Aug 23, 2014 4:47 pm
 
Forum: Personal Consumer Issues
Topic: No room on your Windows hard drive? Cleanup Update files
Replies: 60
Views: 5017

Re: Why do we tip restaurant servers?

What happens when the server doesn't enhance your experience? No tip? I go out a lot in the US, Europe and Asia. The main differentiating characteristic of US service is a cheesy fake friendliness. In terms of efficiency, attentiveness, competence I have seen much better everywhere in Asia (this is...
by HueyLD
Fri Aug 22, 2014 4:58 pm
 
Forum: Personal Consumer Issues
Topic: Why do we tip restaurant servers?
Replies: 44
Views: 2368

Re: Unlimited cell plans dropping in price?

Straight Talk -45.00 "unlimited" :happy "*30 day Unlimited Plans include 3GB of high speed data per 30 day cycle. After 3GB, your data speed will be reduced for the remainder of the 30 day cycle. High speed data is restored once a new 30 day service plan is added." How much web ...
by HueyLD
Wed Aug 20, 2014 3:50 pm
 
Forum: Personal Consumer Issues
Topic: Unlimited cell plans dropping in price?
Replies: 40
Views: 3511

Re: can unmarried or unrelated people hold house title in JT

Can unmarried or unrelated people hold house title in Joint Tenancy with Right of Survivorship? If yes: Say two people buy a house together and title the property as JTWRS. But one of them pays more. Does this create tax consequence immediately or down the road? You may want to read this article on...
by HueyLD
Wed Aug 20, 2014 11:36 am
 
Forum: Personal Finance (Not Investing)
Topic: can unmarried or unrelated people hold house title in JTWRS?
Replies: 4
Views: 514

Re: Will you have to pay your parent's long term care costs?

Shifting money to avoid paying is one thing but going after children for amounts this large is not something most people could absorb for long You are right. However, what are the alternatives? In some countries, death is expected for those who have no money for medical care. If neither the childre...
by HueyLD
Wed Aug 20, 2014 11:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Will you have to pay your parent's long term care costs?
Replies: 57
Views: 4379

Re: Will you have to pay your parent's long term care costs?

I wonder what the alternatives may be. As both the federal and states are running short on funds, should we just expect the governments to cut payments to low income people so that they can die when they run out of money? What if they are your loved ones? I think it is a serious issue for us as a so...
by HueyLD
Wed Aug 20, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Will you have to pay your parent's long term care costs?
Replies: 57
Views: 4379

Re: Moving after retirement.

Here are my reasons for staying put. 1) Very close family.... 2) I love where I live now... 3) I know this sounds goofy but a social life is important. I am concerned that I won't make new friends. :wink: Hard to believe that's a concern at 55. Based on the above, you are where you should be. No do...
by HueyLD
Sat Aug 16, 2014 8:42 pm
 
Forum: Personal Consumer Issues
Topic: Moving after retirement.
Replies: 43
Views: 4598

Re: Spousal SS benefit for older and lower earner

Thank you for the reply, Jon. I think she should consider the long term impact of both benefits, not just hers today. Even though she is three years older than her husband, he could still die first and they should attempt to maximize her widow's benefit as well. Is it a good advice to tell her to ge...
by HueyLD
Thu Aug 14, 2014 8:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spousal SS benefit for older and lower earner
Replies: 3
Views: 470

Re: Weekend in Tucson - Kids' Birthday

Yep, the apostrophe in Kids' is in the right place. I will be in Tucson, AZ for the 1st time this weekend, with my twin boys, who are turning 12. Just looking for things we can do there, and maybe something special since it is their birthday. We are on a long roadtrip from Virginia, and have hiking...
by HueyLD
Thu Aug 14, 2014 7:39 pm
 
Forum: Personal Consumer Issues
Topic: Weekend in Tucson - Kids' Birthday
Replies: 19
Views: 986

Spousal SS benefit for older and lower earner

I have done research on SSA sites among others, but I couldn't get a good answer on my friend's situation. So, I am looking for help from SS experts on the forum. My friend turns 66 and her husband turns 63 this year. Neither has filed for SS benefits. She was a stay at home mom for many years and h...
by HueyLD
Thu Aug 14, 2014 5:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spousal SS benefit for older and lower earner
Replies: 3
Views: 470

Re: How do you address your inlaws and being addressed?

sscritic wrote:It must be cultural. In my Chinese soap operas, as soon as you are engaged, you call your future in-laws Mom and Dad or the equivalent.

Really?
by HueyLD
Fri Aug 08, 2014 1:41 pm
 
Forum: Personal Consumer Issues
Topic: How do you address your inlaws and being addressed?
Replies: 84
Views: 5048

Re: Finding witnesses for a trust document

Does the witness have to read the docs or just observe you sign? If the latter why not just ask a friend or coworker since they can't see anything anyway? I ask because we soon will be doing our wills and trust and don't know the process. As sscritic said earlier, the rules are state dependent. In ...
by HueyLD
Fri Aug 08, 2014 12:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Finding witnesses for a trust document
Replies: 31
Views: 1458
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