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Re: Friend not filed taxes for years but owes no money

Filing makes it difficult for someone else to file with your SSN. I am coming around to the conclusion that people should file whether or not they are required to file.
by Sidney
Thu Apr 16, 2015 10:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Friend not filed taxes for years but owes no money
Replies: 15
Views: 1602

Re: How Many Credit Cards Do You Have Open?

We have three. Each of us carries one that is not carried by the other in case a wallet is stolen, we would have one good card.
by Sidney
Wed Apr 15, 2015 9:08 am
 
Forum: Personal Finance (Not Investing)
Topic: How Many Credit Cards Do You Have Open?
Replies: 25
Views: 1480

Re: How does this site make money?

The real story behind all this is the selflessness of the owners of this site. This is a million dollar a year site they have simply decided not to monetize. The beauty of capitalism is that you can make money and at the same time serve your purpose better. If the site chooses to monetize, it can h...
by Sidney
Tue Apr 14, 2015 8:28 am
 
Forum: Forum Issues and Administration
Topic: How does this site make money?
Replies: 39
Views: 5341

Re: Experience with Apple Pay?

I'd much rather see more rapid intro of Chip and PIN and elimination/vast reduction in check transactions.
by Sidney
Tue Apr 14, 2015 8:02 am
 
Forum: Personal Consumer Issues
Topic: Experience with Apple Pay?
Replies: 32
Views: 2370

Re: Does your family know about your net worth (ball park)?

From looking at the recent annual income poll result, I think most BHs are already millionaires or will become one. Q1. Does your family (parents, siblings) know about your net worth (ball park figure)? I have never asked them, so I really don't know. Q2. Do you know their net worth? No Q3. How doe...
by Sidney
Tue Apr 14, 2015 7:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Does your family know about your net worth (ball park)?
Replies: 80
Views: 7805

Re: Finally some good news on retirement

TwoByFour wrote:This is silly. Nobody should plan a retirement budget on income, past, present, or future.

That is why I stopped reading the article after the first sentence.
by Sidney
Tue Apr 14, 2015 7:13 am
 
Forum: Investing - Theory, News & General
Topic: WSJ: You may need less than 80% in retirement
Replies: 98
Views: 8862

Re: Donating old books and getting tax writeoff?

My library sells used books (which have been donated to them) for $.25 for paperbacks and $.50 for most hardbacks. Some go for a $1. So I don't bother with keeping track for taxes since the market value in our area is so low.
by Sidney
Mon Apr 13, 2015 7:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Donating old books and getting tax writeoff?
Replies: 17
Views: 1996

Re: Your homeowner and auto insurance annual rate increases?

My homeowners bill just came. It went down $6 this year. Umbrella is flat.
by Sidney
Wed Apr 08, 2015 5:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Your homeowner and auto insurance annual rate increases?
Replies: 23
Views: 2515

Re: FSA contributions incorrectly coded as HSA on W2

If you are using software, isn't there a place where you can enter the 1099 as you believe it should be? Seems like I saw that a few times over the years. I've never had to use it though. It is a W2; you normally match the inputs on your software to the paper form. If the paper form is incorrect, i...
by Sidney
Mon Apr 06, 2015 4:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: FSA contributions incorrectly coded as HSA on W2
Replies: 8
Views: 518

Re: FSA contributions incorrectly coded as HSA on W2

File when you want to. The matching process takes place later in the year. On the other hand, you could file for an extension and enjoy your summer and file in September like I do.
by Sidney
Mon Apr 06, 2015 4:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: FSA contributions incorrectly coded as HSA on W2
Replies: 8
Views: 518

Re: Capital gain on primary residence

trueblueky wrote:You can always get married and double your exclusion :D


Right, Kite is looking for someone to marry to fix his tax issues. Sounds like a perfect match.
by Sidney
Mon Apr 06, 2015 4:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Capital gain on primary residence
Replies: 20
Views: 1659

Re: Capital gain on primary residence

Keep in mind that the capital gain tax only applies to the excess of the gain over the $250,000 exclusion. When you go to sell, you will pay real estate commission on the entire selling price.
by Sidney
Mon Apr 06, 2015 2:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: Capital gain on primary residence
Replies: 20
Views: 1659

Re: If long-term, why not just go really high risk?

One of the big risks is when 50 years becomes 20 years, in year 19.
by Sidney
Thu Apr 02, 2015 4:54 pm
 
Forum: Investing - Theory, News & General
Topic: If long-term, why not just go really high risk?
Replies: 49
Views: 4911

Re: My Strategy For A Market Crash

I'm curious why dividends are relevant to your strategy at all. The distinction between dividends and capital gains has always seemed arbitrary to me. I think all that matters is total return. The OP frames the strategy in terms of dividends, but it is really a variant of Taylor's belt-tightening s...
by Sidney
Tue Mar 31, 2015 4:56 pm
 
Forum: Investing - Theory, News & General
Topic: My Strategy For A Market Crash
Replies: 54
Views: 9130

Re: Retirement AA

I'd probably just go with a Target Retirement Fund. Pick an allocation you are comfortable with 40/60 ... 50/50 ish.

When you say "gross" you are saying that the $60K will cover income taxes.
by Sidney
Tue Mar 31, 2015 3:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retirement AA
Replies: 5
Views: 444

Re: Newly retired investment advice needed

Julieta wrote:The pensions and social security payments cover his monthly expenses and allow him to fund his IRA annually.


I don't understand this statement. In order to contribute to an IRA you need to have "compensation" as defined by the IRS. Pensions and SS do not qualify.
by Sidney
Tue Mar 31, 2015 2:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Newly retired investment advice needed
Replies: 12
Views: 1161

Re: TurboTax Import Error from Vanguard: Who's Fault?

It is 5 figures of additional tax (plus the $5K penalty + interest). You have to really not pay attention to miss the income on your return to generate this kind of a hit on the bottom.
by Sidney
Sun Mar 29, 2015 8:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: TurboTax Import Error from Vanguard: Who's Fault?
Replies: 16
Views: 1383

Re: Just completed my taxes... have some questions.

It may depend on the nature of the partnership. If it is passive, I doubt it would be eligible for SS credit. What is your role in the partnership? I would suggest reading the instructions for Schedule SE http://www.irs.gov/pub/irs-pdf/i1040sse.pdf See page 4 Partnership Income or Loss If you were a...
by Sidney
Sun Mar 29, 2015 4:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Just completed my taxes... have some questions.
Replies: 14
Views: 1373

Re: pension lump sum rollover to Roth IRA

Leeraar wrote:Call Vanguard and get them involved. They need to speak to Hewitt. What you need is a trustee to trustee rollover.

L.

With no withholding. Tax paid from other source.
by Sidney
Sun Mar 29, 2015 3:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: pension lump sum rollover to Roth IRA
Replies: 13
Views: 1085

Re: Just completed my taxes... have some questions.

furwut wrote:Read this:
If You Are Self-Employed

According to this, earnings from a limited partnership do not qualify for SS. I guess we don't have enough info from the OP to really diagnose his situation.
by Sidney
Sun Mar 29, 2015 3:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Just completed my taxes... have some questions.
Replies: 14
Views: 1373

Re: How many of you invest in individual stocks?

I have a handful of individual stocks from much earlier in my investing life. Over time, these are being donated away.
by Sidney
Sun Mar 29, 2015 10:29 am
 
Forum: Investing - Theory, News & General
Topic: How many of you invest in individual stocks?
Replies: 70
Views: 4746

Re: MRD and charitable contributions

I think it depends on your overall tax situation. It keeps the RMD out of the AGI calculations. This could impact the proportion of social security which is taxable.

Also, depending on the amount, a comparable direct charitable donation might not be fully tax-deductible on Schedule A.
by Sidney
Sun Mar 29, 2015 10:28 am
 
Forum: Investing - Theory, News & General
Topic: MRD and charitable contributions
Replies: 10
Views: 668

Re: My Strategy For A Market Crash

Isn't this basically living off withdrawals from fixed income side and re-balancing to equity via reinvestment of dividends? Directionally this is the standard approach for many.
by Sidney
Sat Mar 28, 2015 7:59 pm
 
Forum: Investing - Theory, News & General
Topic: My Strategy For A Market Crash
Replies: 54
Views: 9130

Re: Can you really know your AA until you've hit a bear mark

For the people who were invested in both the recessions in the 2000's, how do you compare them psychologically? I think the first one would have been more difficult for me because it was 3 straight years of increasingly negative returns. But the second one was a bigger sudden drop, and people may h...
by Sidney
Sat Mar 28, 2015 4:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can you really know your AA until you've hit a bear market?
Replies: 74
Views: 5424

Re: K-1 tax question

If it isn't refundable, you may be able to claim a credit against your MD tax for the tax paid in DC. Since you are a resident of MD you will include it on your 502.
by Sidney
Sat Mar 28, 2015 4:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: K-1 tax question
Replies: 8
Views: 897

Re: Merging HSA accounts?

I believe that her funds need to remain in an account titled to her.
by Sidney
Thu Mar 26, 2015 4:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Merging HSA accounts?
Replies: 4
Views: 308

Re: TurboTax does not recognize 1099-S

Just enter the sale on 8949.
by Sidney
Thu Mar 26, 2015 3:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: TurboTax does not recognize 1099-S
Replies: 4
Views: 640

Re: Total Intl Dividends

Those of us who prefer not to get dividends wrote a letter to Vanguard and asked them to cut it out.
by Sidney
Thu Mar 26, 2015 2:27 pm
 
Forum: Investing - Theory, News & General
Topic: International stock "dividend variability" Why?
Replies: 37
Views: 3047

Re: Ad Valorem tax on new car

[OT comment removed by admin LadyGeek]
by Sidney
Thu Mar 26, 2015 9:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Ad Valorem tax on new car
Replies: 8
Views: 906

Re: HSA deadline for tax deduction eligibility

My understanding is as long as you had a HDHP for the entire year of 2014, you can designate the full contribution (up to the limits) for tax year 2014 (similar to an IRA contribution). If you weren't covered by that plan for the whole year, you need to pro-rate your contribution for the months tha...
by Sidney
Wed Mar 25, 2015 5:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA deadline for tax deduction eligibility
Replies: 10
Views: 685

Re: International stock dividend cut. Why?

Uncle Pennybags wrote:No return is real until it is realized.


I sold shares in 2014 to pay bills. None of the payees asked where the money came from. Because of losses harvested in 20009 I won't pay taxes on the income. But even if I did, half the value was return of capital and not taxed.
by Sidney
Wed Mar 25, 2015 4:10 pm
 
Forum: Investing - Theory, News & General
Topic: International stock "dividend variability" Why?
Replies: 37
Views: 3047

Re: International stock dividend cut. Why?

And less of a hit on US tax.
by Sidney
Wed Mar 25, 2015 7:20 am
 
Forum: Investing - Theory, News & General
Topic: International stock "dividend variability" Why?
Replies: 37
Views: 3047

Re: Calculator to determine tax owed on selling mutual fund?

There are several calculators that will do what you want. Turbotax, TaxAct or H&RBlock should do the trick.
by Sidney
Sun Mar 22, 2015 8:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Calculator to determine tax owed on selling mutual fund?
Replies: 7
Views: 634

Re: Tax implications on cashing out a Lump Sum Pension?

I've got a new Vanguard traditional Ira set up to receive the rollover. I was just doing the math to make sure I understand how it works. The only reason I even considered it was a) it is "free" money just given to me as opposed to investments I'd made and b) the immediate cash flow help ...
by Sidney
Sun Mar 22, 2015 2:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax implications on cashing out a Lump Sum Pension?
Replies: 7
Views: 499

Re: Do I have to mail in all my personal info again !!!

Check to see if you can upload PDFs to VG through the secure email that is part of your account access (when you are logged in to your account). I'm not certain but I think you can attach files to a secure message to your VG rep.
by Sidney
Thu Mar 19, 2015 4:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I have to mail in all my personal info again !!!
Replies: 12
Views: 1201

Re: Anyone concerned about their bond holdings?

Michael_Fisher1 wrote:seems like an interest hike may be on the near horizon. some are saying June perhaps

I have hear this rumor since 2008.
by Sidney
Thu Mar 19, 2015 4:36 pm
 
Forum: Investing - Theory, News & General
Topic: Anyone concerned about their bond holdings?
Replies: 58
Views: 5829

Re: Do I have to mail in all my personal info again !!!

Why not FEDEX them to their offices? Maybe I misread the OP; I read it as you wanting to add her to an account, thereby making it a joint account. This wouldn't be an IRA in that case. Did I miss something? If she wants an IRA at VG and the deadline is short, open an IRA at a local bank, deposit th...
by Sidney
Thu Mar 19, 2015 4:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I have to mail in all my personal info again !!!
Replies: 12
Views: 1201

Re: Do I have to mail in all my personal info again !!!

Why not FEDEX them to their offices?
by Sidney
Thu Mar 19, 2015 3:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I have to mail in all my personal info again !!!
Replies: 12
Views: 1201

Re: Tax Loss Accounting & Calculating Returns Accurately

I agree with you on ROI, and it's not really relevant to this conversation; just a metric I use annually among others. What decisions have you made going forward based on this metric? Sydney, it's as I've said. Why do you ask? -- Tet Just curious. I rarely look at historical returns since they don'...
by Sidney
Wed Mar 18, 2015 4:06 pm
 
Forum: Investing - Theory, News & General
Topic: Tax Loss Accounting & Calculating Returns Accurately
Replies: 20
Views: 579

Re: Interest rate hike signaled

powermega wrote:
billyt wrote:More interestingly, bond funds are also increasing in value in response to the news.

I thought that was odd too. Oh well. Ignore the noise and stay the course.

Investors dumped > $6B of bond ETFs prior to the meeting. Oops.
by Sidney
Wed Mar 18, 2015 3:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Interest rate hike signaled
Replies: 25
Views: 2261

Re: Tax Loss Accounting & Calculating Returns Accurately

tetractys wrote:I agree with you on ROI, and it's not really relevant to this conversation; just a metric I use annually among others.


What decisions have you made going forward based on this metric?
by Sidney
Wed Mar 18, 2015 3:18 pm
 
Forum: Investing - Theory, News & General
Topic: Tax Loss Accounting & Calculating Returns Accurately
Replies: 20
Views: 579

Re: Save on capital gain tax

You can open a DAF and donate share to that account.
by Sidney
Wed Mar 18, 2015 2:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Save on capital gain tax
Replies: 5
Views: 619

Re: Tax Loss Accounting & Calculating Returns Accurately

For example, a rollover occurs on a specific date. But should the tax on the rollover be accounted for on that date, or in the next year when the tax return is filed, or at the end of the year or the beginning of the next year? The same question comes up for just about every tax event. And many mak...
by Sidney
Wed Mar 18, 2015 2:54 pm
 
Forum: Investing - Theory, News & General
Topic: Tax Loss Accounting & Calculating Returns Accurately
Replies: 20
Views: 579

Re: Too good to be true? vgenx or vgpmx

Crude approaching $40 again. I suppose we could just as easily see $20 as $80. There seems to be nowhere to store the stuff anymore.
by Sidney
Wed Mar 18, 2015 10:35 am
 
Forum: Investing - Help with Personal Investments
Topic: Too good to be true? vgenx or vgpmx
Replies: 25
Views: 2876

Re: Tax question I forgot to include the $7 dividends my IRA

rec7 wrote:I know they are not taxable but do you report them each year?


No
by Sidney
Tue Mar 17, 2015 4:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax question I forgot to include the $7 dividends my IRA ear
Replies: 3
Views: 488

Re: Tax question I forgot to include the $7 dividends my IRA

Earnings in an IRA are not taxable until you withdraw money from the IRA.
by Sidney
Tue Mar 17, 2015 4:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax question I forgot to include the $7 dividends my IRA ear
Replies: 3
Views: 488

Re: how often do you check performance?

Timon0201 wrote:checking performance on my portfolio's daily against other funds

Never
by Sidney
Tue Mar 17, 2015 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: how often do you check performance?
Replies: 70
Views: 4807
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