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Re: Misleading information on tax loss harvesting wiki artic

Wash-Sale Rule - Investopedia The key is “substantially identical” - different share classes of TSM are “substantially identical”, so your example above would be a wash sale if performed within 31 days of the original sale. Going from Vanguard TSM to, say, Schwab Total Stock Market Index would also...
by Spirit Rider
Thu Jul 31, 2014 11:11 am
 
Forum: Investing - Theory, News & General
Topic: Misleading information on tax loss harvesting wiki article
Replies: 34
Views: 1176

Re: Question: Inheritance and Financial Aid

I believe that for FASFA, if the mother's income is low enough to qualify for certain needs based programs, then the EFC-FM is an automatic $0. In this case under normal circumstances there was no student contribution to the EFC-FM. Now whether this applies to substantial assets, I do not know. In t...
by Spirit Rider
Tue Jul 29, 2014 1:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Question: Inheritance and Financial Aid
Replies: 12
Views: 528

Re: Question: Inheritance and Financial Aid

Assets held by the student have the greatest detrimental effect on the Expected Family Contribution (EFC). There are three EFC methodologies; Federal Methodology (FM), Institutional Methodology (IM) and Consensus Methodology (CM). There are two account types could possibly help one or more of the me...
by Spirit Rider
Mon Jul 28, 2014 11:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Question: Inheritance and Financial Aid
Replies: 12
Views: 528

Re: Inherited accounts

Can the beneficiary change the beneficiaries if the will stipulates something different? (So that a beneficiary wouldn't have to redistribute funds after receiving the inheritance) If the beneficiary has not taken any distributions, the beneficiary can disclaim within 9 months of the death of the d...
by Spirit Rider
Mon Jul 28, 2014 1:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Inherited accounts
Replies: 24
Views: 1342

Re: Is tax deferment overvalued?

I don't know how to quantify this, but there is a significant benefit that there are no transactional tax costs. This allows you to rebalance and adjust asset allocations without cost.
by Spirit Rider
Sun Jul 27, 2014 12:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Is tax deferment overvalued?
Replies: 20
Views: 2434

Re: 401k Failed Discrimination Testing- What Do I Do?

I had this happen to me before several years ago. Unless things have changed, I thought the were required to do this by March 15th
by Spirit Rider
Sat Jul 26, 2014 9:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k Failed Discrimination Testing- What Do I Do?
Replies: 6
Views: 1074

Re: $250K reporting question for multiple Solo 401k plans

Spirit Rider wrote:NOTE: Since the self-employed is by definition both employee and employer, this would be a controlled group and the 415c annual addition limits (2014 = $52K) would apply across all elf-employed plans.

I should correct this and state that this applies to human plans also.
by Spirit Rider
Sat Jul 26, 2014 8:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: $250K reporting question for multiple Solo 401k plans
Replies: 7
Views: 767

Re: $250K reporting question for multiple Solo 401k plans

Yes, an individual can have more than one Solo 401k plan, but not more than one Solo 401k plan per employer. If you have more than one self-employed employer, you would need separate plans to use that compensation as a basis for contributions. NOTE: Since the self-employed is by definition both empl...
by Spirit Rider
Sat Jul 26, 2014 3:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: $250K reporting question for multiple Solo 401k plans
Replies: 7
Views: 767

Re: Verizon Issue advice

Sorry to hear about your mother. The billing sounds correct to me. Verizon, like most communications companies 'bills in advance'. The bill for 3/20-4/20 was probably issued on 3/20 with and payment due approx 30 days later hence the ACH withdrawal on 4/16. The bill for 4/20-5/20 would have been is...
by Spirit Rider
Fri Jul 25, 2014 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Verizon Issue advice
Replies: 16
Views: 1256

Re: Treasury Direct--just blowing off steam

It is NOT that mistake that set me off. What steamed me is 1) an online form that offers to let you enter a message, but --doesn't let you use three perfectly good punctuation characters in the message, --doesn't warn you in advance when you are entering the message, which is when you need to know ...
by Spirit Rider
Fri Jul 25, 2014 5:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct--just blowing off steam
Replies: 58
Views: 4099

Re: Where should I open a Solo 401k account?

It really depends what is important to you. For Example: Vanguard: Roth, no inbound rollovers, diverse low cost index funds, no loans. Fidelity: no Roth, inbound rollovers, core low cost index funds, no loans. TD Ameritrade: Roth, inbound rollovers, no native funds, loans Other options include Schwa...
by Spirit Rider
Fri Jul 25, 2014 1:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Where should I open a Solo 401k account?
Replies: 18
Views: 1198

Re: Estate Trustee requests I "waive presentation of account

I agree will all of the above posts. I also suggest an alternative. There is a difference between the formal accounting presented to the probate court and an informal accounting to the beneficiaries. If there is reasonable trust with the parties you could ask for an informal statement of assets and ...
by Spirit Rider
Thu Jul 24, 2014 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Trustee requests I "waive presentation of accounting"
Replies: 10
Views: 1309

Re: Does a 401k plan cost an employer money?

Well the true question, that I didn't actually express in my original post, is what is the marginal cost of adding graduate students to the plan, when there are already many employees in the plans already. There is no employer match for either the 457b or the 403b available at my school. livesoft h...
by Spirit Rider
Thu Jul 24, 2014 6:10 pm
 
Forum: Investing - Theory, News & General
Topic: Does a 401k plan cost an employer money?
Replies: 32
Views: 1747

Re: Does a 401k plan cost an employer money?

My understanding is that a myRA is just going to be a special kind of IRA. It would not increase an individual's contribution limits, unlike a 401k, 403b, or 457b To add a little more detail. The myRA is going to be a special kind of Roth IRA investing in a special Savings Bond based on the same in...
by Spirit Rider
Thu Jul 24, 2014 5:53 pm
 
Forum: Investing - Theory, News & General
Topic: Does a 401k plan cost an employer money?
Replies: 32
Views: 1747

Re: If Argentina Defaults

It's also arguable that given these bonds are held by 'vulture' funds these are not the people who lent Argentina money in the first place. So there's not the same moral obligation to repay (again different from the 1970-80s situation). How is it arguable that there is not the same moral obligation...
by Spirit Rider
Wed Jul 23, 2014 12:24 pm
 
Forum: Investing - Theory, News & General
Topic: If Argentina Defaults
Replies: 21
Views: 1997

Re: If Argentina Defaults

Do you really understand the Argentine economy. With all due respect and love for the Argentine people, the business community and government is one big Mafia-like environment. How do I know? I spent several years including >50% 1999-2001 living and working in Buenos Aires. My Porteno friends say it...
by Spirit Rider
Tue Jul 22, 2014 11:04 pm
 
Forum: Investing - Theory, News & General
Topic: If Argentina Defaults
Replies: 21
Views: 1997

Re: Small Business owner w/employees can I have SEP-IRA and

Unless you specifically adopted a non-SEP-5305 plan you are most probably a 5305 plan. Fidelity, Vanguard and most large providers are all SEP-5305 plans. Your provider can certainly tell you.
by Spirit Rider
Tue Jul 22, 2014 10:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Small Business owner w/employees can I have SEP-IRA and 401k
Replies: 6
Views: 474

Re: Small Business owner w/employees can I have SEP-IRA and

Yes, I exempted the employees from the SEP-IRA (all joined the company after me and have not been employed for 3 years). I left those details out so it was less confusing. I actually messed up my years too (!) I meant can I do all of this in 2014... I think you got the general idea though anyway, I...
by Spirit Rider
Tue Jul 22, 2014 9:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Small Business owner w/employees can I have SEP-IRA and 401k
Replies: 6
Views: 474

Re: Small Business owner w/employees can I have SEP-IRA and

In years 2012 and 2013 did you also have eligible employees? You stated that you put the maximum in both those years. You were required to contribute the same exact percentage to those eligible employees as you did for yourself. If not, you have a serious non-compliance issue with serious IRS liabil...
by Spirit Rider
Mon Jul 21, 2014 9:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Small Business owner w/employees can I have SEP-IRA and 401k
Replies: 6
Views: 474

Re: Should I open a solo 401k?

Wouldn't this affect my ability to do a backdoor Roth contribution? Exactly. I don't understand this hesitancy against using a Solo 401k. There is a trivial difference in the level of effort between a Solo401k and a SEP IRA. Yes, you might have one time Solo 401K paperwork vs. online enrollment for...
by Spirit Rider
Mon Jul 21, 2014 6:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Should I open a solo 401k?
Replies: 9
Views: 686

Re: Hearing Aids

I have a service connected disability rating for tinnitus and also have high frequency hearing loss. I always felt it was rather ironic that I have a disability rating for a subjective condition that cannot be proved. However, a 60db loss at 3KHz and 80db loss at 4Khz+ has no rating. I'm sure my hea...
by Spirit Rider
Sun Jul 20, 2014 11:14 pm
 
Forum: Personal Consumer Issues
Topic: Hearing Aids
Replies: 82
Views: 6193

Re: Business structure - Self employed software engineer

Good point, thank you. I'm planning on having a separate bank account. Any specific accounting software you would recommend for the LLC accounting/record keeping? Personally, I never felt the need for accounting software. As an hourly independent software contractor with minimal expenses I just kep...
by Spirit Rider
Sun Jul 20, 2014 9:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Business structure - Self employed software engineer
Replies: 18
Views: 1937

Re: Business structure - Self employed software engineer

Given the current market rates for my skillset, the net profits from my consulting business will generally be well under $200k; in some very good years it may reach 250K - but I think that would be the max for the next 5-7 years. One of my goal is to maximize the contributions to the retirement acc...
by Spirit Rider
Sun Jul 20, 2014 3:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Business structure - Self employed software engineer
Replies: 18
Views: 1937

Re: Need help w/self-employed 401(k) questions (and others!)

It is that the health insurance policy not just the coverage that needs to be in the name of the business. Note: It is ok if the policy is in the name of a self-employed individual, because the business is the individual. A group policy whether through other employment, COBRA, etc... do not qualify....
by Spirit Rider
Fri Jul 18, 2014 11:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help w/self-employed 401(k) questions (and others!)
Replies: 9
Views: 502

Re: Need help w/self-employed 401(k) questions (and others!)

In step 21 of the Deduction Worksheet for Self-Employed, Chapter 5, page 22 of IRS Publication 560, Roth contributions are subtracted from total contributions, leaving only the deductible contribution on step 22 to be entered on Form 1040 line 28.
by Spirit Rider
Fri Jul 18, 2014 9:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help w/self-employed 401(k) questions (and others!)
Replies: 9
Views: 502

Re: was Bogle right about ETFs?

ETFs have certainly terrorized the retail financial advisory industry, as they've taken the middle man out of investing. No more do we have to pay loads, or go through advisors, to own diversified portfolios. And we can move from one fund family to another (for example to TLH) without being held ca...
by Spirit Rider
Thu Jul 17, 2014 2:30 pm
 
Forum: Investing - Theory, News & General
Topic: was Bogle right about ETFs?
Replies: 26
Views: 2894

Re: was Bogle right about ETFs?

ETFs have certainly terrorized the retail financial advisory industry, as they've taken the middle man out of investing. No more do we have to pay loads, or go through advisors, to own diversified portfolios. And we can move from one fund family to another (for example to TLH) without being held ca...
by Spirit Rider
Thu Jul 17, 2014 1:13 am
 
Forum: Investing - Theory, News & General
Topic: was Bogle right about ETFs?
Replies: 26
Views: 2894

Re: Inherited a promissory note--what to do?

In only a small number of states could an acknowledgement of the debt or offer to pay reset the SOL. In fact in about 20 states even partial payments do not reset the SOL. In the majority of states only a new written signed formal agreement will reset the SOL. An "I will start sending somethin...
by Spirit Rider
Wed Jul 16, 2014 1:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Inherited a promissory note--what to do?
Replies: 22
Views: 2422

Re: Inherited a promissory note--what to do?

From what I can see, the statute of limitations (which is what you're probably thinking of) on promissory notes in my state is 10 years, which is longer than I thought; it may also have been reset during the conversations with the lawyer if he acknowledged the debt. In only a small number of states...
by Spirit Rider
Tue Jul 15, 2014 7:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Inherited a promissory note--what to do?
Replies: 22
Views: 2422

Re: Why does anyone use American Express?

Is it normal for American Express to not mail a paper statement if there was no activity that month? Yes, and it is true of every other credit card I have. They generally will only mail you a statement if you either have charges/credits or payments in a billing cycle. Some cards will not even gener...
by Spirit Rider
Tue Jul 15, 2014 1:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why does anyone use American Express?
Replies: 146
Views: 22039

Re: HSA and Medicare

This seems like a pretty obscure Social Security/Medicare regulation with significant impact. There should be Wiki entries on this mandatory up-to six-month retroactive Medicare enrollment in both the Social Security and HSA sections. Also, as far as I can tell, this is applicable to file and suspen...
by Spirit Rider
Tue Jul 15, 2014 11:08 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA and Medicare
Replies: 19
Views: 1424

Re: HSA and Medicare

So the way I read this all, I need to reverse my contributions to the HSA for the past 6 months, as I need to go on Medicare. If I don't go on Medicare, I dont have Medical coverage. Am I missing something? Funny thing is, called my HR and called HSA administrator. Neither had ever heard of this si...
by Spirit Rider
Tue Jul 15, 2014 8:18 am
 
Forum: Personal Finance (Not Investing)
Topic: HSA and Medicare
Replies: 19
Views: 1424

Re: HSA and Medicare

I had never heard of this before. Did you just enroll in Medicare or did you also apply for social security. The following link references it in conjunction with enrolling for Social Securty. Tax Penalty—with Medicare and HSA! If you choose to take Social Security and continue to work and if you are...
by Spirit Rider
Mon Jul 14, 2014 7:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA and Medicare
Replies: 19
Views: 1424

Re: 401k options as W2 employee without benefits

You will need to check with a CPA or maybe SeattleCPA or Alan S. will respond or you can PM them. I believe you can do the following to maximize your solo 401k contributions. You can follow niceguy7376's suggestion to take the full employee deferral ($17.5K). Then if you have sufficient net profit a...
by Spirit Rider
Mon Jul 14, 2014 6:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k options as W2 employee without benefits
Replies: 2
Views: 459

Re: New vehicle...GMC Acadia, Chevy Traverse, or Buick Encla

You should check with your insurance agent. Having a third vehicle that is categorized as a non-commuting pleasure vehicle is likely a minimal increase in your total policy cost. No that doesn't include what your yearly registration/tax costs are. Still, you might be surprised.
by Spirit Rider
Mon Jul 14, 2014 4:54 pm
 
Forum: Personal Consumer Issues
Topic: New vehicle...GMC Acadia, Chevy Traverse, or Buick Enclave?
Replies: 64
Views: 5316

Re: New vehicle...GMC Acadia, Chevy Traverse, or Buick Encla

I am looking for a replacement vehicle for our 2004 Honda CRV. The CRV has been great, but at 179K miles, it is showing its age and we need some more growing room for our 1 year old twins. I have been researching replacement vehicles such as the GMC Acadia, Chevy Traverse, Buick Enclave , Dodge Dur...
by Spirit Rider
Mon Jul 14, 2014 1:59 pm
 
Forum: Personal Consumer Issues
Topic: New vehicle...GMC Acadia, Chevy Traverse, or Buick Enclave?
Replies: 64
Views: 5316

Re: solo 401k

This idea of funding the solo 401k from retained earnings is very interesting to me. So, if I can't do solo 401k this year because I have employees this year, I can just leave the $ in the company, and use the retained earnings to fund the solo 401k for next year. I just ran tax caster and it worke...
by Spirit Rider
Mon Jul 14, 2014 1:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: solo 401k
Replies: 23
Views: 1737

Re: Who else hates choosing a car?

I also very much enjoy choosing a new vehicle. I have bought one every 8-10 years over the last 40 years or so. I'm on vehicle number 5. Each time I make a determination based on my needs and wants. First, I determine what type of vehicle and class I am looking for. In that time, I have purchased on...
by Spirit Rider
Mon Jul 14, 2014 12:37 am
 
Forum: Personal Consumer Issues
Topic: Who else hates choosing a car?
Replies: 75
Views: 6422

Re: solo 401k

The identified 200% match does not exist. A solo 401k does not have an employer elective match. It has an employee elective deferral and a employer non-elective profit sharing. The profit sharing max is 25% of compensation, but is calculated differently for a sole proprietor than an S-Corp. I am lo...
by Spirit Rider
Sun Jul 13, 2014 11:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: solo 401k
Replies: 23
Views: 1737

Re: New Sole Proprietorship Retirement Questions

What if the total income from the self employment is insufficient to reach the $17,500 individual max and/or you wish to contribute less than that? For example, for $5k of income gross income: 5,000 adjusted income: $4,646 (gross - 1/2 SE tax, per fidelity calculator) s401k contribution $4,646 prof...
by Spirit Rider
Sun Jul 13, 2014 6:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Sole Proprietorship Retirement Questions
Replies: 13
Views: 1120

Re: New Sole Proprietorship Retirement Questions

I stand corrected. But, now I wonder why my accountant recommended a SEP and never mentioned a solo 401k for me. ... Why would my accountant have recommended the SEP? I will ask her. I was incorrect and thought the solo 401k max was $17500. Just when I think I have things figured out, I figure out ...
by Spirit Rider
Sun Jul 13, 2014 6:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Sole Proprietorship Retirement Questions
Replies: 13
Views: 1120

Re: Anyone use Fido as your bank?

Both of the Fidelity Investor Centers nearest me do not accept cash deposits. They also do not accept money orders. I keep my B&M credit union for such issues. Also, be aware that while ACH deposits are immediately available for investment, there is a 4-5 day hold for withdrawals (they do not wa...
by Spirit Rider
Sun Jul 13, 2014 5:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anyone use Fido as your bank?
Replies: 11
Views: 1470

Re: Birthday gift for a 10 year old girl


+1

IPOD Touch is essentially an IPhone minus the cellular support. It even runs the same operating system (matching generations) and thus all the same apps.
by Spirit Rider
Sun Jul 13, 2014 5:24 pm
 
Forum: Personal Consumer Issues
Topic: Birthday gift for a 10 year old girl
Replies: 28
Views: 1490

Re: Insurance premiums for renewals versus current

Insurance rate regulation is a situation that varies greatly state to state. This varies from states that do not regulate rates at all, to states that have directives and require rate submissions for review and approval, and finally states that set rates based submissions of insurance company data. ...
by Spirit Rider
Sun Jul 13, 2014 4:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Insurance premiums for renewals versus current
Replies: 11
Views: 1053

Re: Full time vs IT contract

Not sure how many folks have mentioned that FTE salary should be equal to 2 times contracting income. I been in IT and in a few cases I been able to find the rate Client was paying the vendor. Even if I work directly work for Client I will not make double the FTE salary. For example in my current g...
by Spirit Rider
Fri Jul 11, 2014 9:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Full time vs IT contract
Replies: 29
Views: 3488

Re: SIMPLE IRA Question

Not to diminish the high expense ratios and 12b-1 fees, but very often loads are waived in retirement plans. Are you sure you are subject to the loads?
by Spirit Rider
Fri Jul 11, 2014 11:06 am
 
Forum: Investing - Help with Personal Investments
Topic: SIMPLE IRA Question
Replies: 2
Views: 480

Re: Munchies ?

wasabi, Wasabi, WASABI

peas, soybeans, nuts.

Of course, it really isn't wasabi, it is green colored horseradish.

They kind of have a built-in quantity limiter.
by Spirit Rider
Wed Jul 09, 2014 4:35 pm
 
Forum: Personal Consumer Issues
Topic: Munchies ?
Replies: 22
Views: 2099

Re: Need Fidelity alternatives to Vanguard

Sorry, I couldn't resist. Actually it is more like almost, and almost. You really need to give the name of the funds too. With the exception of the core equity/bond index funds, many people don't have the symbols memorized. FSIQX Fidelity Spartan Inflation-Protected Bond Index Fund - Investor Class,...
by Spirit Rider
Wed Jul 09, 2014 4:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need Fidelity alternatives to Vanguard
Replies: 5
Views: 1108

Re: How to w/d from taxable until SS/RMD time gets here?

You don't mention what your emergency fund status is. Most retirement income planners would move some to cash or laddered CDs. Certainly not all of it, but maybe so you have in the range of 2-4 years of expenses. Generally, you should draw down in proportion to maintain your desired asset allocatio...
by Spirit Rider
Tue Jul 08, 2014 9:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to w/d from taxable until SS/RMD time gets here?
Replies: 29
Views: 2065
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