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Re: Cheap auto loan suggestions?

Nobody uses M for thousand anymore. Maybe realtors?
by Rainier
Wed Jul 23, 2014 9:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cheap auto loan suggestions?
Replies: 5
Views: 231

Re: Vanguard not vigilant about taxes?

How does Vanguard know your tax rate? Could be zero...
by Rainier
Wed Jul 23, 2014 5:35 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard not vigilant about taxes?
Replies: 15
Views: 1356

Re: Mortgage Prepayment Question

If you prepaid $500 and had a 5% interest rate you save about 6.8 cents per day. Don't spend it all at once.
by Rainier
Tue Jul 22, 2014 8:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Prepayment Question
Replies: 33
Views: 1428

Re: Mortgage Prepayment Question

Looks correct to me. Your total payment won't change, it is fixed for the life of the loan. If you paid half the principal today your payment wouldn't change. The ratio of principal and interest will change though. Interest accrued daily on the principal balance. Search the Internet on how mortgage ...
by Rainier
Tue Jul 22, 2014 8:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Mortgage Prepayment Question
Replies: 33
Views: 1428

Re: Forced Stock sale

Do a google search for "forced sale against will, tax free" Links to Donald Sterling being forced to sell Clippers comes up "Could Sterling look to treating the sale as an involuntary conversion under Section 1033 of the tax code? Basically the code section allows in cases where prop...
by Rainier
Sun Jul 20, 2014 8:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Forced Stock sale
Replies: 11
Views: 1606

Re: Forced Stock sale

Pay the tax, move on.
by Rainier
Sat Jul 19, 2014 4:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Forced Stock sale
Replies: 11
Views: 1606

Re: Selling RV Abroad & Bringing Cash Home

Sounds like an awesome trip.

Does the guide have a website? I'd like to learn more about it.
by Rainier
Wed Jul 16, 2014 3:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selling RV Abroad & Bringing Cash Home
Replies: 23
Views: 2086

Re: Selling RV Abroad & Bringing Cash Home

Nobody in Argentina will be able to afford a $50k RV. Are you familiar with their financial crisis. If somebody is willing to hand over $50k, just take the cash home. I'd let them worry about the auto import laws. The buyer of the car will know what they can and can't do. Also, I bet Argentina won't...
by Rainier
Wed Jul 16, 2014 7:36 am
 
Forum: Personal Finance (Not Investing)
Topic: Selling RV Abroad & Bringing Cash Home
Replies: 23
Views: 2086

Re: Recommend compression socks for flights - Sizing?

Buy your first pair at a store to get the sizing right.
by Rainier
Sun Jul 13, 2014 10:04 pm
 
Forum: Personal Consumer Issues
Topic: Recommend compression socks for flights - Sizing?
Replies: 6
Views: 636

Re: Offer on home accepted- Sellers want to rent for sometim

I'd want a huge holdback in escrow in case they decide to squat. Not likely, but that is worst case.
by Rainier
Tue Jul 08, 2014 5:48 am
 
Forum: Personal Consumer Issues
Topic: Offer on home accepted- Sellers want to rent for sometime
Replies: 19
Views: 1664

Re: Dip into IRAs to pay off CC debt?

I read your post again and noticed no property taxes or insurance in your budget. For your house or the rental. There are actually a lot of things left out. I'd definitely research money management and work with your wife to construct a thorough budget. At your young age you probably want to get wi...
by Rainier
Tue Jul 08, 2014 5:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Dip into IRAs to pay off CC debt?
Replies: 28
Views: 2020

Re: Homeowner responsibility for water service line

Doesn't it all depend on what side of the meter the damage happens? They certainly can't charge for leaked water on the street side of the meter. My gas company recently found a leakin my gas line in a routine sweep. It was on the street side of my meter and they fixed it very promptly and for free....
by Rainier
Sun Jul 06, 2014 7:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Homeowner responsibility for water service line
Replies: 45
Views: 2016

Re: Rick Ferri's Emergency Fund

Seems like a savings account would be even better.
by Rainier
Sat Jul 05, 2014 9:17 am
 
Forum: Investing - Theory, News & General
Topic: Rick Ferri's Emergency Fund
Replies: 28
Views: 6259

Re: What to do with old Macbook Pro?

I use my old laptop as a backup server in the basement. My time capsule dumps onto it in the evenings.

I changed the energy settings on the old laptop to only wake between 7-10pm. If I'm on my main computer at that time it will make a backup, if not then I get it the next night.
by Rainier
Sat Jul 05, 2014 7:44 am
 
Forum: Personal Consumer Issues
Topic: What to do with old Macbook Pro?
Replies: 24
Views: 1775

Re: Neighbor's Fireworks

It's mostly cardboard, paper and some wooden sticks. I wouldn't worry about it that much, not worth the hassle.
by Rainier
Sat Jul 05, 2014 7:28 am
 
Forum: Personal Consumer Issues
Topic: Neighbor's Fireworks
Replies: 50
Views: 4327

Re: Combining finances - gift tax?

Aren't student loans like education and medical? I thought they were excluded from gifts.

In any case you're not a billionaire and this isn't a lot of money. Nobody is going to care about this transaction.
by Rainier
Sat Jul 05, 2014 6:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Combining finances - gift tax?
Replies: 15
Views: 742

Re: Am I on the right track at age 34?

I wouldn't keep that much in checking. If you want cash, fine, but keep the excess in a different account.
by Rainier
Fri Jul 04, 2014 1:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Am I on the right track at age 34?
Replies: 19
Views: 2277

Re: taxes on family loan for mortgage downpayment?

No real concerns from me. I'd document everything so there are no misunderstandings.

My only yikes was on the misunderstanding of the IRS looking at your bank statements. Again, they don't really do that unless you are committing massive fraud.
by Rainier
Wed Jul 02, 2014 7:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: taxes on family loan for mortgage downpayment?
Replies: 10
Views: 766

Re: taxes on family loan for mortgage downpayment?

Yikes. Any gift you receive is never taxable to you. IRS doesn't see bank statements. All they get is 1099s and W-2s, and a few other things. If you are paying interest to the family member they must report interest income, that's not your problem though. If they don't charge interest (or you don't ...
by Rainier
Wed Jul 02, 2014 3:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: taxes on family loan for mortgage downpayment?
Replies: 10
Views: 766

Re: Keep ETF or Pay off the Mortgage?

On the gain side, if you sell for a gain you can re-invest right back into the same security. It is not like a loss subject to wash sale rules.
by Rainier
Wed Jul 02, 2014 3:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Keep ETF or Pay off the Mortgage?
Replies: 10
Views: 1044

Re: Anyone Actually Using Quicken on a Mac?

I gave up on Quicken for Mac a few years ago and now use Quickbooks. Obviously, not for everyone, but it works. I really wish there was another option out there. I'd love to make Mint work, but I can't stand not being able to reconcile my checking account. If I can't reconcile I can't trust the bala...
by Rainier
Wed Jul 02, 2014 3:13 pm
 
Forum: Personal Consumer Issues
Topic: Anyone Actually Using Quicken on a Mac?
Replies: 14
Views: 978

Re: Google 2 step verification assistance

What about all the google apps I have on my devices? For example my iphone has: mail (ios grabs mail, calendar, etc) gdrive, sheets, docs and YouTube. Would all of those apps need a one time login?
by Rainier
Thu Jun 19, 2014 10:41 pm
 
Forum: Personal Consumer Issues
Topic: Google 2 step verification assistance
Replies: 14
Views: 1158

Re: NYC for the day… what to do with the car

Where are you staying in CT? If you are along the metro north line the lots are generally free on the weekend (maybe not in the bigger cities)
by Rainier
Tue May 27, 2014 7:04 pm
 
Forum: Personal Consumer Issues
Topic: NYC for the day… what to do with the car
Replies: 18
Views: 1088

Re: Getting Passport without specific travel plans?

I agree with others, that section is just so they can prioritize the processing. I have always received my passports very quickly, much quicker than advertised.

Put anything down, Canada, UK, whatever. An answer in that box is not a condition of receiving a passport.
by Rainier
Fri Apr 11, 2014 2:14 pm
 
Forum: Personal Consumer Issues
Topic: Getting Passport without specific travel plans?
Replies: 29
Views: 2235

Re: Minimizing Taxes

I think adding a CPA to your list of helpers will just raise your expenses and complexity level.

They don't have any magic tricks. Make less money, get out of the AMT....
by Rainier
Sat Apr 05, 2014 2:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Minimizing Taxes
Replies: 17
Views: 1103

Re: is $125 from Toyota economic loss settlement taxable?

What is this for?

Not likely, the $125 is just making you whole.
by Rainier
Fri Apr 04, 2014 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: is $125 from Toyota economic loss settlement taxable?
Replies: 3
Views: 536

Re: Divs & Cap Gains - killing me at taxes

You could buy crappy stocks that only lose money then you wouldn't be stuck paying taxes.
by Rainier
Fri Mar 07, 2014 6:01 pm
 
Forum: Investing - Theory, News & General
Topic: Divs & Cap Gains - killing me at taxes
Replies: 8
Views: 918

Re: Emergency fund tiers?

In a natural disaster you can withdraw I bonds in less than one year. I could have after Sandy. Just saying. A five year ladder of I bonds is too much work for most people. Of course its not for everybody, as nothing is. Just throwing out a thought and an option. I would just boost the amount in ca...
by Rainier
Fri Mar 07, 2014 5:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency fund tiers?
Replies: 24
Views: 1573

Re: Emergency fund tiers?

In a natural disaster you can withdraw I bonds in less than one year. I could have after Sandy. Just saying.

A five year ladder of I bonds is too much work for most people.
by Rainier
Fri Mar 07, 2014 5:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency fund tiers?
Replies: 24
Views: 1573

Re: Emergency fund tiers?

Yes, I would. 9-12 months is well beyond my e-fund. But I have a large taxable account that can be used in emergencies.
by Rainier
Fri Mar 07, 2014 4:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency fund tiers?
Replies: 24
Views: 1573

Re: Emergency fund tiers?

Online bank savings accounts are the best option for cash right now, not brokerage money markets.

Floating rate funds are the latest fads in a long line of failed fads. I have no idea how or when it will end, but watch out for them.
by Rainier
Fri Mar 07, 2014 4:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Emergency fund tiers?
Replies: 24
Views: 1573

Re: Financial Status Review

I could probably guess what company you work for, but I won't. The stock purchase plan seems scary, only a 15% discount and you have to hold for two years. Kind of sucks. Seems like what executives get, not regular employees. I'd try to reduce the risk here, pay the taxes if you must but reduce the ...
by Rainier
Fri Mar 07, 2014 4:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: Financial Status Review
Replies: 8
Views: 860

Re: Paying extra directly onto mortgage

Assuming nothing crazy happens with FILs estate you get this money back tax free.

Nothing illegal here as mortgage interest income is being reported. Biggest issue is that nothing is guaranteed and FIL can do whatever he wants with the account.
by Rainier
Fri Mar 07, 2014 4:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying extra directly onto mortgage
Replies: 17
Views: 1619

Re: Tax Lot Size

Brokerages are obligated to do this for you.
by Rainier
Fri Mar 07, 2014 4:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tax Lot Size
Replies: 7
Views: 309

Re: Paying extra directly onto mortgage

Are you deducting the interest? Is your FIL reporting the income?

Doesn't sound that crazy to me. It's a forced savings plan with an interest rate reduction.

Seems like there are other pitfalls I am missing though.
by Rainier
Fri Mar 07, 2014 3:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying extra directly onto mortgage
Replies: 17
Views: 1619

Re: Question on Sanctions and Asset Seizures

If I was a big company, like Apple for example, I wouldn't be leaving any assets in The banks in R. I'd keep doing business in R so long as I was allowed, but leaving assets there beyond what is needed in daily operations would be nuts. Even if that meant paying taxes on it.
by Rainier
Fri Mar 07, 2014 3:29 pm
 
Forum: Investing - Theory, News & General
Topic: Question on Sanctions and Asset Seizures
Replies: 5
Views: 442

Re: PenFed 5/5 ARM promotion now expired

Its just supply and demand. When they get back logged they just end the deal.

I just closed a HELOC at prime minus 25 bps. Some bank is now prime plus 75 bps on their website...lucky me.
by Rainier
Fri Mar 07, 2014 2:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: PenFed 5/5 ARM promotion now expired
Replies: 6
Views: 799

Re: Help with Paychex 401k funds

Actually, it looks really crappy.

First, he doesn't work at paychex.

Second, there is no match. He said it was discretionary. Sounds odd to me. Need more details on this part.
by Rainier
Fri Mar 07, 2014 12:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with Paychex 401k funds
Replies: 5
Views: 327

Re: Question on Sanctions and Asset Seizures

I typically use country A and R hypothetically.

Assume country R can do anything it wants and that the laws of country R will not protect you. But the price that R pays for doing that far exceeds the benefit financially.
by Rainier
Fri Mar 07, 2014 8:04 am
 
Forum: Investing - Theory, News & General
Topic: Question on Sanctions and Asset Seizures
Replies: 5
Views: 442

Re: TurboTax Underpayment Penalty, is this right?

Did TurboTax know your 2012 information?
by Rainier
Thu Mar 06, 2014 9:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: TurboTax Underpayment Penalty, is this right?
Replies: 8
Views: 786

Re: Recharacterize Roth Contribution

Nope, I split it "just because." I am eligible to get the full $5,500 deduction.

Not sure I want to do an "explanatory statement" for the approximately $175 in tax savings, but I am still tempted.
by Rainier
Thu Mar 06, 2014 2:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Recharacterize Roth Contribution
Replies: 3
Views: 170

Recharacterize Roth Contribution

I see a lot of examples of recharacterizing a Roth to Traditional contribution if you have losses, but what about when you have gains? In 2013 (for tax year 2013) I contributed $500 to my Roth and $5,000 to my Traditional IRAs. I am in the 25% tax bracket plus the child tax credit phaseout (+5%), an...
by Rainier
Thu Mar 06, 2014 11:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Recharacterize Roth Contribution
Replies: 3
Views: 170

Re: More Efficient Emergency Fund

Don't worry about the tax on $5000 of ibonds, it's not much.

Also, don't think of it as a three month penalty on interest. Just think that you don't earn interest for the first three months. True, it is a penalty but the value in your account always shows what you are getting.
by Rainier
Wed Mar 05, 2014 9:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: More Efficient Emergency Fund
Replies: 28
Views: 2429

Re: overcontributed to HSA

Not sure about TaxAct, it may ask you a question somewhere in the process. I had the same thing occur and I withdrew the funds. But for $200 it would have been cheaper to leave in the HSA and pay the 6% rather than the $20 fee my HSA charged me. Neither are very big, but it's another way to look at ...
by Rainier
Wed Mar 05, 2014 7:34 am
 
Forum: Personal Finance (Not Investing)
Topic: overcontributed to HSA
Replies: 27
Views: 2047

Re: Looking for Portfolio Help (26 y/o)

From Vanguard Total Return Investing . Remember that dividends are taxed at normal high income tax rates while capital gains are taxed at the lower rates of 0%, 15%, or 20%. In a retirement account it makes no difference since money removed from a roth is tax free and money removed from a tradition...
by Rainier
Tue Mar 04, 2014 11:01 pm
 
Forum: Investing - Help with Personal Investments
Topic: Looking for Portfolio Help (26 y/o)
Replies: 30
Views: 1407

Re: overcontributed to HSA

Don't change your w-2 numbers, they are correct.

TaxAct should add back that income since it was excluded from your w-2 wages.
by Rainier
Tue Mar 04, 2014 7:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: overcontributed to HSA
Replies: 27
Views: 2047

Re: Removing Escrow from Mortgage

You can get rid of the mortgage.

Some states require them to pay interest on the escrowed funds. CT had a very generous rate, well above market rate.

Pay a fee and get out of the escrow.
by Rainier
Tue Mar 04, 2014 6:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Removing Escrow from Mortgage
Replies: 13
Views: 940

Re: Taxable account bond options

If you are in the top income bracket how do you contribute to a Roth? Backdoor?
by Rainier
Mon Mar 03, 2014 10:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Taxable account bond options
Replies: 7
Views: 493

Re: Moving to Australia - what to do about retirement accoun

Isn't the worst case just cashing out? Pay the penalty and income taxes and never think about this issue again.

Bold move, but if I was your age (and I am) and never coming back to the US I'd want to simplify as much as possible.
by Rainier
Mon Mar 03, 2014 10:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Moving to Australia - what to do about retirement accounts
Replies: 19
Views: 1986

Re: W2 Help -- Student Loan Deduction

Any chance your office is an off shore oil rig?
by Rainier
Mon Mar 03, 2014 8:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: W2 Help -- Student Loan Deduction
Replies: 3
Views: 271
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