Search found 1454 matches

Return to advanced search

Re: Selling Vehicle of Deceased

This is entirely subject to Iowa state law. I am not familiar with the estate laws and probate procedure in IA and IANAL. Think about it. The purpose of estate law and probate procedures are to resolve the issue of assets, liabilities, and the distribution of net assets if any. If you could just dis...
by Spirit Rider
Wed Dec 17, 2014 12:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Selling Vehicle of Deceased
Replies: 26
Views: 2061

SEP IRA and Solo 401k in the same plan year

What is clear is that you can not open a 5305 SEP IRA if you already have a Solo 401k. Every mainstream provider I am aware of uses prototype 5305 SEP IRA plan documents. Yes, you could go to the significant expense to have a TPA develop a custom 5304 SEP IRA plan, but as a practical matter you can ...
by Spirit Rider
Tue Dec 16, 2014 11:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: My first non fee advisor meeting..confused
Replies: 35
Views: 4617

Re: Do you get collision insurance for your car?

For those of you that dropped collision coverage due to driving clunkers, what do you do when you rent a car? Does paying with credit card ensure that credit card will cover collision damage to rental cars? Credit card coverage is secondary coverage when one has personal auto insurance, but does it...
by Spirit Rider
Fri Dec 12, 2014 6:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you get collision insurance for your car?
Replies: 43
Views: 3517

Re: HDHP under deductible: out-of-pocket or through insuranc

As I mentioned, some providers will offer a discount when billing patients directly in an out-of-pocket situation, as opposed to billing insurance. Since it eventually all comes out of pocket, wouldn't that be cheaper? I wouldn't think the provider would offer you a discount greater than the one th...
by Spirit Rider
Thu Dec 11, 2014 11:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: HDHP under deductible: out-of-pocket or through insurance?
Replies: 8
Views: 570

Re: Employee Stock Purchase Plans - What are your thoughts?

I agree with the others that 5% is a stingy discount. I wouldn't do it for less than 15% with a 6-month lockup. It is just to risky. You really have a cheap company to offer this kind of lame discount.
by Spirit Rider
Thu Dec 11, 2014 11:13 am
 
Forum: Investing - Help with Personal Investments
Topic: Employee Stock Purchase Plans - What are your thoughts?
Replies: 23
Views: 1558

Re: "Why Retirement at 65 is a Fairy Tale"

Most people will be OK with social security and medicare, they do not need to take cruises every year to be retirees. +1 Who are these people living comfortably on $20,000 a year? I don't know about their comfort level, but I don't think they're living in NJ. They're not in Westchester or Long Isla...
by Spirit Rider
Thu Dec 11, 2014 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: "Why Retirement at 65 is a Fairy Tale"
Replies: 117
Views: 11503

Re: Have you ever been let go?

We should combine all the recent threads into one theme. We have had; "what is a job hopper?", why did you quit your job?", and now "have you ever been let go?" I can answer yes to all three. All we need now is "have you ever been fired for cause?", Yup, to that on...
by Spirit Rider
Tue Dec 09, 2014 9:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you ever been let go?
Replies: 74
Views: 5471

Re: Uneven Home Heating. Can I Adjust Furnace Valves?

While you can certainly bleed the individual baseboard units yourself, this may not be the source of the problem. If this does not correct the problem there are other items of consideration. You should probably hire a professional to investigate. You could have a problem with the circulation. Do you...
by Spirit Rider
Tue Dec 09, 2014 10:44 am
 
Forum: Personal Consumer Issues
Topic: Uneven Home Heating. Can I Adjust Furnace Valves?
Replies: 22
Views: 1911

Re: Unauthorized charge on corp. card

One thing to keep in mind is that there are TWO types of company cards. Type ONE is where the company actually obtains the card on their liability and you are effectively an authorized user. Type Two is where the company provides you with a link where you apply for their corporate card. Don't be mis...
by Spirit Rider
Mon Dec 08, 2014 8:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Unauthorized charge on corp. card
Replies: 9
Views: 770

Re: Anyone have Bank pay incorrect RMD?

Just a thought, what divisor are you/the bank using. There are two ways to use the uniform lifetime table. The owner uses a new divisor each year from the table for an owned IRA. A beneficiary uses the table for the first year divisor and decrements it by one each year for an Inherited IRA. Might t...
by Spirit Rider
Sun Dec 07, 2014 8:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anyone have Bank pay incorrect RMD?
Replies: 12
Views: 1101

Re: Just found old small IRA! Are we in Backdoor trouble?

This is not tax advice , only what I would do in such a situation. The proper way to handle this would be to go back and reconstitute all Form 8086s and do amended tax returns for the years you could. However, the small amount of this in comparison with two backdoor Roth IRAs would have meant ~= $1...
by Spirit Rider
Sun Dec 07, 2014 11:44 am
 
Forum: Investing - Help with Personal Investments
Topic: Just found old small IRA! Are we in Backdoor trouble?
Replies: 8
Views: 858

Re: Why do target date funds get so bond heavy?

All of which are really good reasons not to invest in target date funds. For this reason target date funds are susceptible to the same marketing driven composition pressures as active mutual funds. For example, actively managed short term bond funds and TIPS funds added risky investments to their p...
by Spirit Rider
Sun Dec 07, 2014 11:24 am
 
Forum: Investing - Theory, News & General
Topic: Why do target date funds get so bond heavy?
Replies: 39
Views: 2698

Re: Can I contribute to a HSA

The minimum deductible for 2014 is $1250-single/$2500-family, 2015 is $1300-single/$2600-family. There is more than just a high deductible to be an HSA qualified HDHP. As has been stated by others, there are specific rules about how deductibles can be applied and how any other payments can be applie...
by Spirit Rider
Sun Dec 07, 2014 11:03 am
 
Forum: Investing - Theory, News & General
Topic: Can I contribute to a HSA
Replies: 8
Views: 640

Re: Who Paid for the wedding?

I was 28 and she was 23. Both mothers were widows. Her mother was working, maybe making a median income. My mom was on Social security with a modest amount of retirement savings. We refused any contribution from our mothers and paid for our modest wedding ourselves. Although our moms got together an...
by Spirit Rider
Sun Dec 07, 2014 10:50 am
 
Forum: Personal Consumer Issues
Topic: Who Paid for the wedding?
Replies: 94
Views: 6495

Re: HSA Contribution Questions

The testing period penalty is 10%.
by Spirit Rider
Sat Dec 06, 2014 4:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA Contribution Questions
Replies: 2
Views: 395

Re: Anyone have Bank pay incorrect RMD?

Just a thought, what divisor are you/the bank using. There are two ways to use the uniform lifetime table. The owner uses a new divisor each year from the table for an owned IRA. A beneficiary uses the table for the first year divisor and decrements it by one each year for an Inherited IRA. Might th...
by Spirit Rider
Sat Dec 06, 2014 4:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anyone have Bank pay incorrect RMD?
Replies: 12
Views: 1101

Re: Break-even point for an HSA plan

The value of the HSA deduction to FICA taxes is dependent on whether your income is subject to the SS portion of FICA. If your 2014 income <= $117k, your savings will be 7.65% of $6550 or ~= $500. If your income >= ($117K+$6650), your savings will be 1.45% of $6550 or ~= $100. If your income between...
by Spirit Rider
Sat Dec 06, 2014 12:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Break-even point for an HSA plan
Replies: 3
Views: 578

Re: [Why did my fund suddenly drop in value?]

LadyGeek wrote:For balance in perspective, here's Fidelity's version: Fidelity Fund Distributions

Expect questions starting on Tuesday (12/9).

That is the list of ones that have already gone Ex. Here is the full list. Year-End Distributions by Fidelity Mutual Funds
by Spirit Rider
Sat Dec 06, 2014 12:16 am
 
Forum: Investing - Theory, News & General
Topic: [Why did my fund suddenly drop in value?]
Replies: 125
Views: 10321

Re: Joint emergency fund for a single person ?

I do something similar. I have $2-3K in a joint account at my local credit union that pays almost as much as Ally. I figured having some B&M access was a good thing. And I do exactly that. I have a joint account at Ally with a little more. If I remember correctly, it was very easy to set up onli...
by Spirit Rider
Fri Dec 05, 2014 9:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Joint emergency fund for a single person ?
Replies: 14
Views: 1396

Re: Where do you shop for groceries?

90% of our shopping is at Market Basket (a large low price grocery store in northern New England), their prices and service is unbeatable. The other 10% is Hannaford or Fresh Market (organic stuff), with a farmers market thrown in here and there. +1, with some higher priced shopping for quality cut...
by Spirit Rider
Thu Dec 04, 2014 11:18 pm
 
Forum: Personal Consumer Issues
Topic: Where do you shop for groceries?
Replies: 82
Views: 6031

Re: Buying home without a buyer's agent

Just because a professional person who gets paid for working is an agent, doesn't necessarily mean they are your agent. In the typical case with respect to realtors, both agents are the sellers agent. They have fiduciary duties to the seller, not to you. Both of them do. That's actually illegal in ...
by Spirit Rider
Wed Dec 03, 2014 6:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying home without a buyer's agent
Replies: 41
Views: 1915

Re: Am I a job hopper?

You call that job hopping. I had 4 jobs in 8 years at the beginning of my career. It certainly didn't hurt, because I then had 3 offers for my next permanent job. I turned them all down to start consulting (boy was that recruiter pissed). Now, on the other hand, I have had the same number (4) jobs i...
by Spirit Rider
Tue Dec 02, 2014 8:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Am I a job hopper?
Replies: 50
Views: 4586

Re: Loss of IRA Value Due Transfer/Close out fee

I have had multiple roth IRA accounts of which I have been consolidating into Vanguard. I made the move from Northwestern Mutual Financial Network (NMFN) to Vanguard for my roth IRA. NMFN charged a $145 account close out fee that was taken out of my vanguard ira account. I want to understand if the...
by Spirit Rider
Tue Dec 02, 2014 1:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Loss of IRA Value Due Transfer/Close out fee
Replies: 7
Views: 622

Re: S Corp Health Premiums - can count as wages for solo 401

If someone doesn't respond with a definitive cite, you might try posting at http://www.fairmark.com or http://www.benefitslink.com.
by Spirit Rider
Mon Dec 01, 2014 1:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: S Corp Health Premiums - can count as wages for solo 401k?
Replies: 11
Views: 986

Re: What is like a bond but is only taxed at long term gains

I can't think of anything. For example, savings bonds are tax deferred but subject to ordinary income tax at maturity, Treasury Bills are subject to ordinary income tax at maturity, and longer term zero coupon bonds while not receiving interest payments are subject to OID reporting and ordinary inco...
by Spirit Rider
Mon Dec 01, 2014 1:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: What is like a bond but is only taxed at long term gains.
Replies: 11
Views: 1325

Re: Struggling with SEP IRA vs Solo 401K

Knowing that I will hopefully max out my main job 401K each year going forward, does it make more sense for me to go with a SEP IRA for the second income stream? I realize 25% of the net income I'll show isn't a huge amount, but I'd rather be as tax efficient with as much money as I can with this. ...
by Spirit Rider
Fri Nov 28, 2014 4:39 pm
 
Forum: Investing - Help with Personal Investments
Topic: Struggling with SEP IRA vs Solo 401K
Replies: 6
Views: 711

Re: Self-employment retirement accounts w/o profit?

I believe you are correct. Partners are not employees. Any "salary" payments are draws against partnership net profits. It should be just like a sole proprietor (Schedule E instead of Schedule C). No net profit, no base for retirement contributions (business or personal). However, she woul...
by Spirit Rider
Thu Nov 27, 2014 11:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Self-employment retirement accounts w/o profit?
Replies: 3
Views: 714

Re: Frontloading IRA/401k

I believe the short answer is no. From a sometimes faulty recollection, a CPA told me these are your options for a sole proprietor. 1. If you have a reasonable expectation of a given self-employment income for the current tax year, you can make proportional contributions on that projection. For exam...
by Spirit Rider
Thu Nov 27, 2014 11:07 am
 
Forum: Investing - Theory, News & General
Topic: Frontloading IRA/401k
Replies: 1
Views: 504

Re: Valuation of EE Savings Bonds

Mutual funds value at the market price. For the EE bond there is no open market and thus no market price. It does not matter that they are not "marketable" securities available to be sold to someone else. A market price is not the only means of valuation. The purpose of a market price is ...
by Spirit Rider
Tue Nov 25, 2014 7:38 pm
 
Forum: Investing - Theory, News & General
Topic: Valuation of EE Savings Bonds
Replies: 48
Views: 3716

Re: IRA Contribution Question and Age

I used to worry about the SS taxation, but the more I understand and project, I am going to get hit with it no matter what. One thing to be aware of is that the income limits are not indexed to inflation. They are the same amounts that were applied the first year. If you consider that 1/2 of your so...
by Spirit Rider
Sun Nov 23, 2014 3:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA Contribution Question and Age
Replies: 18
Views: 1779

Re: Possible to exchange one Amex card for another?

Just be aware that getting a human review of your available unsecured debt can result in an adverse action. For example, if you really don't have the income or can't justify the need for that many cards or that much unsecured debt from one issuer. Especially with AMEX, this could trigger the dreaded...
by Spirit Rider
Sun Nov 23, 2014 3:13 pm
 
Forum: Personal Consumer Issues
Topic: Possible to exchange one Amex card for another?
Replies: 9
Views: 1117

Re: Need help to maximize my tax deductions (SEP/IRA)

I'm not sure if you just addressed a point I've been trying to figure out with all of this. Can I open a solo 401k by December 31, and contribute to both it and my sep-Ira this tax year? Or can you only contribute to one or the other? From the IRS, SEP Plan FAQs - Establishing a SEP If I have a SEP...
by Spirit Rider
Sun Nov 23, 2014 12:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help to maximize my tax deductions (SEP/IRA)
Replies: 7
Views: 891

Re: Need help to maximize my tax deductions (SEP/IRA)

Technically, a SEP IRA is a contribution not an account. So called SEP IRA accounts at various custodians are an administrative convenience. They allow contributions up to the 415 limit, where traditional IRA accounts typically limit you to the IRA contribution limits. There is nothing in IRS regula...
by Spirit Rider
Sat Nov 22, 2014 10:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need help to maximize my tax deductions (SEP/IRA)
Replies: 7
Views: 891

Re: New Refrig with Icemaker. Filter?

Also, refrigerator filters have become a racket like printer cartridges. Over their life, you can spend more on the filters than you did on the refrigerator. An in-line filter can cost less than half as much and last up to ten times longer.
by Spirit Rider
Sat Nov 22, 2014 5:56 pm
 
Forum: Personal Consumer Issues
Topic: New Refrig with Icemaker. Filter?
Replies: 7
Views: 761

Re: Carrying alternatives for phone, credit cards, money

I don't have any solution for the phone. However, for everything else (misleading term), I use a combined money clip/CR80 card holder. I carry two credit cards, one debit card, and my drivers license (the limit is four).
by Spirit Rider
Fri Nov 21, 2014 3:17 pm
 
Forum: Personal Consumer Issues
Topic: Carrying alternatives for phone, credit cards, money
Replies: 25
Views: 2207

Re: After-tax Solo 401k Custodians

If you find a mainstream custodian let us know. Many of us have just even hoped for in-service rollovers.

Your only option at this point is a custom plan through a TPA.
by Spirit Rider
Fri Nov 21, 2014 11:39 am
 
Forum: Investing - Help with Personal Investments
Topic: After-tax Solo 401k Custodians
Replies: 7
Views: 656

Re: GAO Concerned your IRA may be too big!

What I found amazing is just how few IRA accounts are >= $5M. The GAO reported that there were just a little over 9K. Assume a 4% withdrawal rate which many people consider in today's environment to be aggressive. That would yield an initial withdrawal amount of $200K. If we also allow for the retir...
by Spirit Rider
Fri Nov 21, 2014 10:17 am
 
Forum: Personal Finance (Not Investing)
Topic: GAO Concerned your IRA may be too big!
Replies: 25
Views: 3592

Re: Can Non-Tax Filers Contribute to IRA?

Most of the mainstream tax software will not file a return if there is no taxable income and there is no withholding to be refunded (or met any of the other requirements). Even the IRS free file system will not accept returns with those features. Ask me how I know. I attempted to help someone else d...
by Spirit Rider
Thu Nov 20, 2014 10:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can Non-Tax Filers Contribute to IRA?
Replies: 12
Views: 1258

Re: Funding Solo 401k

Assuming you use a cash method an not an accrual method of accounting. You can not use the $16K until constructively received. However, it is not an all or nothing choice between your W2 401k and your Solo 401k. You should be using your W2 401k up to any company match. Also, there is a little known ...
by Spirit Rider
Thu Nov 20, 2014 1:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Funding Solo 401k
Replies: 2
Views: 227

Re: Light Bulb Question

For the past 2 weeks our Costco had Feit 60w equivalent LED's 3 for $6 with a utility rebate at the front so no mail fuss. I would not bother with the florescent lamps in the OP unless you really have a good reason. CFL's are brighter than LED's and I am not paying 15 dollars per bulb (vs $2) unles...
by Spirit Rider
Wed Nov 19, 2014 8:05 pm
 
Forum: Personal Consumer Issues
Topic: Light Bulb Question
Replies: 66
Views: 5269

Re: in-service rollovers from Roth Solo 401(k)s?

No, there is not any time provision for Roth 401k contributions to be removed before 59 1/2 penalty free. Even if in-service rollovers were allowed, by IRS regulations, employee deferrals can not be withdrawn prior to 59 1/2. Also, I am unaware of any mainstream Solo 401k provider who allows in-serv...
by Spirit Rider
Wed Nov 19, 2014 7:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: in-service rollovers from Roth Solo 401(k)s?
Replies: 2
Views: 441

Re: Does Fidelity allow Real Estate investments?

Investing in rental real estate is not something any of the fund companies or brokers are going to allow. For that matter, you are not going to be able to invest in anything that is not fund shares or marketable securities. Personally, I think all of this search for illiquid alternate investments is...
by Spirit Rider
Wed Nov 19, 2014 7:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does Fidelity allow Real Estate investments?
Replies: 9
Views: 1151

Re: Actual experience with California probate court?

I do not have any experience in CA, only in NH a small low regulation state. Since this is Bogleheads.org, I will borrow an economic term to describe the probate process as Laissez-faire. Unfortunately, I have been an executor several times now. Do a good job once that nobody wants to do and everybo...
by Spirit Rider
Tue Nov 18, 2014 11:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Actual experience with California probate court?
Replies: 11
Views: 1442

Re: New teenage driver - which car for insurance

A large SUV is a lot of vehicle for a new teenage driver. I would choose one of the other vehicles.
by Spirit Rider
Tue Nov 18, 2014 9:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: New teenage driver - which car for insurance
Replies: 31
Views: 2680

Re: HSA and FICA Taxes

So unless it is specifically a cafeteria plan as defined by the IRS, you pay FICA on it. I know that my employer allows me to adjust my contributions at any time which would not fit the bill for a cafeteria plan. For it to be a salary reduction type arrangement, whatever elections you make toward y...
by Spirit Rider
Tue Nov 18, 2014 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA and FICA Taxes
Replies: 11
Views: 1010

Re: Self Employed Retirement options

If I don't own a small business is the 401k an option? Would I need to start an LLC? I plan on doing that for 2015, but wanted to make sure I didn't need it prior If you are self-employed, you have a business as determined by the IRS. A Sole Proprietor using their name, DBA, or a default single mem...
by Spirit Rider
Tue Nov 18, 2014 2:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Self Employed Retirement options
Replies: 9
Views: 903

Re: Solo-401k, tax questions

First of all, you need to determine your net profit ($73K - business expenses) 1) Yes 2.9% on the net profit, plus as alluded to by BolderBoy, the 0.9% Medicare surtax added as part of the ACA. This is on the amount > $200k if filing single and > $250k if filing married jointly. So in your case all ...
by Spirit Rider
Tue Nov 18, 2014 9:02 am
 
Forum: Investing - Help with Personal Investments
Topic: Solo-401k, tax questions
Replies: 5
Views: 731

Re: Self Employed Retirement options

Depends on how much money you wish to put away. SEP IRA is one of the easiest to use. probably around 20k. which would be about 20% of my gross SEP IRA is limited to a profit sharing contribution of 20% of your net profit - 1/2 SE tax. You already appear to be running up in to the limit. A Solo 401...
by Spirit Rider
Mon Nov 17, 2014 11:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Self Employed Retirement options
Replies: 9
Views: 903

Re: FSA gains $500 rollover feature

I was talking to HR at my company. The way the end company implemented it, the 500$ rollover is only for 1 year. So if I do not use the money at all, it doesn't rollover again. Just thought people might mistake the way rollover happens. I agree with davegreen10, they are either mistaken or it is si...
by Spirit Rider
Mon Nov 17, 2014 10:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: FSA gains $500 rollover feature
Replies: 42
Views: 3742
Next

Return to advanced search