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Re: windfall legal settlement - tax treatment?

Sorry, I just the right terms would be:

1) settlement (privately agreed by the parties to pay to make a deal one party didn't like end)

2) judgement (handed down by the court concerning damages for income lost as a result of improper breach)
by Sublime8700
Mon Jul 07, 2014 12:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: windfall legal settlement - tax treatment?
Replies: 13
Views: 1742

Re: windfall legal settlement - tax treatment?

The settlement would be business related. It would be for "damages" for a company terminating a contract without cause, and the damages would be for whatever the court decides would "make me whole" for the act of taking away the contract without any reason. I don't know where tha...
by Sublime8700
Mon Jul 07, 2014 12:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: windfall legal settlement - tax treatment?
Replies: 13
Views: 1742

Re: windfall legal settlement - tax treatment?

I'm really not sure I understand the Pain and Suffering joke.

I assume you just mean I'm going to get taxed and there's no good way around it? Or something else.
by Sublime8700
Thu Jul 03, 2014 6:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: windfall legal settlement - tax treatment?
Replies: 13
Views: 1742

windfall legal settlement - tax treatment?

Let's say believed you were likely to receive a windfall legal settlement. For the purposes of discussion: Scenario 1: Let's assume the settlement was some combination of past owed debt that had not been taxed in the previous tax year due to uncertainty regarding the amount and being on extension. S...
by Sublime8700
Wed Jul 02, 2014 11:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: windfall legal settlement - tax treatment?
Replies: 13
Views: 1742

Re: Making a Will (Young Couple)

Any good links on the forum? I'd love to read them.

Was thinking specifically about online services people really like.

The wisdom is invaluable.
by Sublime8700
Fri Apr 11, 2014 8:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Making a Will (Young Couple)
Replies: 16
Views: 1394

Making a Will (Young Couple)

My wife and I are around 30. We have some money, and a 6-month old son.

We'd like to make a simple will. We would rather not involve lawyers.

Anyone have good suggestions/experiences/cautionary tales?

Thank you.
by Sublime8700
Fri Apr 11, 2014 8:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Making a Will (Young Couple)
Replies: 16
Views: 1394

Re: Saving more than Sep IRA

Hm, anyone else? I wouldn't think so either but I read it in an old thread so I was curious.
by Sublime8700
Sun Jan 05, 2014 8:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Saving more than Sep IRA
Replies: 15
Views: 755

Saving more than Sep IRA

In an old bogleheads thread I read this: "If you're maxing out a SEP-IRA and want to save more, you can open a Solo 401k (free at Vanguard or Fidelity) and save another $17K tax deferred. The 20% employer contribution is the same in both accounts, but in the 401k you also get the employee flat ...
by Sublime8700
Sun Jan 05, 2014 7:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Saving more than Sep IRA
Replies: 15
Views: 755

Re: wife and I have baby son! gifting!

shockingly, I never understood the following: Your first dollar is taxed at one rate, your XXXth dollar is taxed at a higher rate, your YYYth dollar is taxed at a still higher rate, etc. That's how your own income is taxed. If you are in the 25% bracket, you don't pay 25% on all your income, just th...
by Sublime8700
Sat Dec 21, 2013 4:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: wife and I have baby son! gifting!
Replies: 7
Views: 579

Re: wife and I have baby son! gifting!

so more or less as I understand it if he received the gift and then sold it at age 2 with no other income he would be in the lowest tax bracket. I suppose that's 10% - I didn't know. So instead of my parents paying 20% cap gains when they sold, he would end up (if he sold) paying 10%. And of course ...
by Sublime8700
Sat Dec 21, 2013 3:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: wife and I have baby son! gifting!
Replies: 7
Views: 579

wife and I have baby son! gifting!

So my wife and I are each going to gift $14,000 to our son this year. Eventually it will go into a 529. My question is: my parents (his grand-parents) are well-off but had a poor year of "earned income" but a fantastic year of investment income. Actually a fantastic many years. I would spe...
by Sublime8700
Sat Dec 21, 2013 2:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: wife and I have baby son! gifting!
Replies: 7
Views: 579

end of the year. do not forget list?

It's the end of the year. What are the common things that bogleheads should be doing as far as retirement plans, tax-planning, etc? The one that comes to mind for me is tax-loss harvesting which there isn't a ton of this year for most people in index funds I would imagine. Are there specific retirem...
by Sublime8700
Thu Dec 12, 2013 2:04 am
 
Forum: Investing - Help with Personal Investments
Topic: end of the year. do not forget list?
Replies: 5
Views: 846

Off-Shore Tax Planning - Two Businesses

Curious if any Bogleheads have any ideas about this... a bit random, but there a bunch of smart people in here, so why not: I've got two businesses: 1) A software business where the profits are generated by licensing software to people around the world who use the software to trade and profit. (It d...
by Sublime8700
Thu Dec 12, 2013 2:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Off-Shore Tax Planning - Two Businesses
Replies: 1
Views: 223

international corporate structure question

I'm an American living abroad. I have a German partner with whom we have a 50/50 informal partnership where we make software. We'd like to establish a solid and tax efficient corporate structure that makes sense for both of us. For what it's worth, I will be moving back to the US in the next 12 mont...
by Sublime8700
Fri May 31, 2013 12:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: international corporate structure question
Replies: 1
Views: 269

Re: 403b Bad Choices!

interesting! so districts, and not schools, have a list of providers that are acceptable. Is there a way to cross check whether my district has anything besides what the HR woman who doesn't know much about this says? Some database or something?
by Sublime8700
Wed Feb 13, 2013 5:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

Re: 403b Bad Choices!

I just spoke with Vanguard at length. They basically told me that the school had to offer Vanguard as a provider or I was out of luck. I'm definitely curious how and what year those of you who got around this did so (without mobilizing the entire school to petition the HR office to add Vanguard beca...
by Sublime8700
Wed Feb 13, 2013 3:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

Re: 403b Bad Choices!

ok. Ill call VG and report back!
by Sublime8700
Tue Feb 12, 2013 10:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

Re: 403b Bad Choices!

so basically if the school offers a 403b or a 457 I should be able to do it through Vanguard, not Mutual of America, regardless of what the HR person tells me about it being a group plan etc. And in order to make this happen, I should call Vanguard if that's what I'm understanding?
by Sublime8700
Tue Feb 12, 2013 4:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

Re: 403b Bad Choices!

and any teacher in a public school is eligible for both 403b and 457?
by Sublime8700
Tue Feb 12, 2013 1:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

Re: 403b Bad Choices!

And presumably he could diversify his tax risk by making the 403b Roth and the 457 traditional...
by Sublime8700
Tue Feb 12, 2013 12:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

Re: 403b Bad Choices!

Wow! Great advice! Can he legally do a 403b and a 457? Meaning 17.5k in each + a 529?
by Sublime8700
Tue Feb 12, 2013 12:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

Re: 403b Bad Choices!

What do you mean by "strong asset protection?"

Would you do a ROTH or normal?

And how might you phrase an e-mail to the HR dept asking for different funds? Just asking for a self-directed option? Or... what's worked for you?
by Sublime8700
Tue Feb 12, 2013 8:02 am
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

403b Bad Choices!

I'm trying to help a friend who is a 26 year old school teacher. He's contributing the max to a roth IRA in a standard Vanguard Retirement Fund (roughly 80/20). In addition to having ~ $17,000 in the Roth at this point. He's accumulated around $100,000 and has minimal expenses. He wants to begin inv...
by Sublime8700
Tue Feb 12, 2013 7:27 am
 
Forum: Investing - Help with Personal Investments
Topic: 403b Bad Choices!
Replies: 25
Views: 1458

Re: target retirement in taxable

How big of a concern is this? Assume a top tax bracket, and a roughly 75-25 target retirement fund.
by Sublime8700
Sat Feb 02, 2013 5:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: target retirement in taxable
Replies: 8
Views: 866

target retirement in taxable

Hi All - Quick Q -- assuming a high-income (high tax) investor who has maxed out tax advantaged space, is there anything wrong with holding a Vanguard Target Retirement fund in a personal account (taxable) from a tax perspective? I was planning on just using it for simplicity and making automatic mo...
by Sublime8700
Sat Feb 02, 2013 4:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: target retirement in taxable
Replies: 8
Views: 866

Re: tax vehicles for 23 year old unemployed with inheritance

also, it occurred to me that this individual has income (short term cap gains) coming from a hedge fund he's invested in from 2012. Could he offset that income with investments into a tax deferred vehicle like a Roth?
by Sublime8700
Wed Jan 23, 2013 9:39 am
 
Forum: Investing - Help with Personal Investments
Topic: tax vehicles for 23 year old unemployed with inheritance
Replies: 8
Views: 1069

Re: tax vehicles for 23 year old unemployed with inheritance

so as long as there's any income, one can have a ROTH. And then beyond that, depending on employer, potentially a 403b or 401k. And he could contribute to both. And in the absence of that, perhaps a 529 plan for a future child...?
by Sublime8700
Wed Jan 23, 2013 9:19 am
 
Forum: Investing - Help with Personal Investments
Topic: tax vehicles for 23 year old unemployed with inheritance
Replies: 8
Views: 1069

Re: tax vehicles for 23 year old unemployed with inheritance

Fair enough.

Is the only way to get access to the tax vehicles for him to have a job/income? Presumable he'd be able to at least do a ROTH at that point... and what else?
by Sublime8700
Wed Jan 23, 2013 8:43 am
 
Forum: Investing - Help with Personal Investments
Topic: tax vehicles for 23 year old unemployed with inheritance
Replies: 8
Views: 1069

tax vehicles for 23 year old unemployed with inheritance

Hi - I've got a 23 year old cousin who has come to me asking for a bit of investment advice for an inheritance of approx. $50,000 USD. For simplicity, let's say he's got another $300,000 USD in funds bogleheads wouldn't like (more family money)-- but that's not the point of my post, and for variance...
by Sublime8700
Tue Jan 22, 2013 2:43 am
 
Forum: Investing - Help with Personal Investments
Topic: tax vehicles for 23 year old unemployed with inheritance
Replies: 8
Views: 1069

Re: new business checking

I should add that the approx. 1st deposit would be between $75,000 and $100,000 and the approx. normal balance would be $20,000
by Sublime8700
Wed Jul 11, 2012 3:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: new business checking
Replies: 6
Views: 523

new business checking

I have to move my business account from Smith Barney because since they merged with Morgan Stanley and they no longer support QuickBooks (pretty bone headed). So, where would you suggest that I go? I don’t really need anything except a checking account (no credit card, no brokerage account) but rewa...
by Sublime8700
Wed Jul 11, 2012 2:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: new business checking
Replies: 6
Views: 523

Re: end of year tax question

Bob -

The question I had was when the contributions had to be made by. In other words, if I want to contribute to my HSA, does it have to be done by 12/31 or 4/15. Ditto for SEP-IRA/529...
by Sublime8700
Wed Dec 14, 2011 3:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: end of year tax question
Replies: 4
Views: 643

end of year tax question

Quickly: I make the maximum use of tax-sheltered accounts like a SEP-IRA, HSA, 529 etc. Are there any tax-shelters that have the end of the calender year (Jan 1) as the cut-off date for contributions, ratehr than the end of the tax-year? Also, can someone provide me with the specific rules regarding...
by Sublime8700
Wed Dec 14, 2011 3:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: end of year tax question
Replies: 4
Views: 643

2% cash back tax forms?

I know that interest from a cash back credit card is counted as bank interest. I've got the Schwab 2%, but when I log into my account and print my 1099 including DIV, INT, and MISC, it doesn't show any of those deposits that are made monthly. Do I have to call Schwab up on this?
by Sublime8700
Tue Feb 15, 2011 12:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2% cash back tax forms?
Replies: 3
Views: 656

Sublime8700? Why not BRK? I think it's a far question. I guess I don't feel like BRK offers any of the benefits of diversification/playing in other markets that may be more inefficient than the stock market. BRK isn't diversified? And hasn't demonstrated informational advantage and the ability to m...
by Sublime8700
Tue Feb 15, 2011 8:40 am
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

You don't invest in the "average hedge fund", so averages are nice but not particularly meaningful given the very wide dispersion of outcomes. You invest in this particular hedge fund , based on the management, their track record, their strategies, their risk controls, their fees, how muc...
by Sublime8700
Mon Feb 14, 2011 4:12 pm
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

Hmmm.. Citadel, according to my favorite insider trading site "Ken Griffin’s Citadel returned about 10 percent in 2010, according to a person who has seen the numbers but wasn’t authorized to share them publicly. Citadel’s flagship Wellington and Kensington funds gained around 10 percent, but ...
by Sublime8700
Mon Feb 14, 2011 4:10 pm
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

james22 wrote:Sublime8700? Why not BRK?


I think it's a far question. I guess I don't feel like BRK offers any of the benefits of diversification/playing in other markets that may be more inefficient than the stock market.
by Sublime8700
Mon Feb 14, 2011 4:07 pm
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

Re: Hedge Funds

I think most Hedge fund investments are driven by people trying to do the right thing, not ego. But most people, even rich ones, are financially ignorant. Most high net worth investors got there through inheriting wealth or growing and selling a business. Neither of which makes you at all knowledge...
by Sublime8700
Sat Feb 12, 2011 5:18 pm
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

Re: the data

From 2003-2010 the HFRX global hedge fund index returned 2.8 percent per annum, underperforming every single major equity asset class and the only safe bond asset class it beat is one-year Treasuries or shorter (and just barely) Why do people invest in hedge funds? Ego driven investing Larry -- I t...
by Sublime8700
Fri Feb 11, 2011 10:27 pm
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

Hmmm.. Citadel, according to my favorite insider trading site "Ken Griffin’s Citadel returned about 10 percent in 2010, according to a person who has seen the numbers but wasn’t authorized to share them publicly. Citadel’s flagship Wellington and Kensington funds gained around 10 percent, but s...
by Sublime8700
Fri Feb 11, 2011 12:32 pm
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

Re: few thoughts

RE zero sum--here is example. Say one buys Euros betting dollar goes down. The other side must be a seller betting the opposite. Both cannot win, so it is zero sum game on gross basis. But both are incurring expenses (the costs of running the operation). So it must be a negative sum game after expe...
by Sublime8700
Fri Feb 11, 2011 12:27 pm
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

I don't doubt that most hedge funds are poor investments, but I don't think it's wise to lump all funds into the same category. I invest about 20% of my portfolio in Citadel, which is a $13b dollar fund run by Ken Griffin, by piggybacking onto a wealthy relative. I count my investment it as equity r...
by Sublime8700
Thu Feb 10, 2011 2:18 am
 
Forum: Investing - Theory, News & General
Topic: Why do people invest in hedge funds?
Replies: 107
Views: 11112

Total International versus FTSE All World Ex US

Probably a fairly easy question here: I currently hold FTSE All World-Ex US for my international equities, but I don't have enough for admiral shares, which means I'm paying .40% ER. There doesn't seem to be a substantive difference between this fund and the Total International Fund, which has a low...
by Sublime8700
Wed Feb 02, 2011 2:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: Total International versus FTSE All World Ex US
Replies: 4
Views: 877

403.B Deadline / directly from payroll?

I am helping a friend with a 403.B plan through Mutual of America. To date, he hasn't contributed anything, but was planning on enrolling and making a one time contribution before December 31st. Today I was told that the money had to removed from his payroll checks in order for it to be put into the...
by Sublime8700
Tue Dec 21, 2010 3:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403.B Deadline / directly from payroll?
Replies: 1
Views: 389

Just to be clear here... We have already done 5k into a Roth IRA for 2010. IN THE ABSENCE OF DEBT and with an emergency fund, Is the advice to max out the $16,500 (far above the match, of course) and then wait a year or two until we are no longer working at this school with this program, and then tr...
by Sublime8700
Thu Nov 04, 2010 2:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: help with 403.b decision
Replies: 6
Views: 1162

Re: help with 403.b decision

Essentially, for the cost of 1.2%, my friend should be able to get $16,500 of tax advantaged (Roth, in his case) space for life (if he wanted to max it out). So it's a Roth 403b? Then, yes, you're right, he can contribute enough to the 403b to get the full match, then max out a Roth IRA, then max o...
by Sublime8700
Thu Nov 04, 2010 1:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: help with 403.b decision
Replies: 6
Views: 1162

Re: help with 403.b decision

Essentially, for the cost of 1.2%, my friend should be able to get $16,500 of tax advantaged (Roth, in his case) space for life (if he wanted to max it out). So it's a Roth 403b? Then, yes, you're right, he can contribute enough to the 403b to get the full match, then max out a Roth IRA, then max o...
by Sublime8700
Thu Nov 04, 2010 1:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: help with 403.b decision
Replies: 6
Views: 1162

Thanks very much -- I will call them up and see what the situation is.
by Sublime8700
Thu Nov 04, 2010 10:58 am
 
Forum: Personal Finance (Not Investing)
Topic: schwab 2% now FIA still 2%?
Replies: 40
Views: 6171
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