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Re: AAPL

Beat earnings, and up 40+ after hours. Back on the gravy train?
by airahcaz
Wed Apr 23, 2014 10:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: AAPL
Replies: 112
Views: 12877

IRA for LLC

My cousin has a ‘Single Member LLC’ as her sole business and is asking what are her retirement investment options. I’m a Roth IRA fan, but is a SEP IRA or other also an option for her to save more than $5500?
by airahcaz
Tue Apr 08, 2014 10:18 am
 
Forum: Investing - Theory, News & General
Topic: IRA for LLC
Replies: 3
Views: 178

Re: Roth IRA Conversion deemed taxable

So that's probably why TT left 8606 lines 1-15 blank as well? Yes, I think so. Lines 1-15 are Part I of form 8606. Here are the notes at the top of Part I: Part I Nondeductible Contributions to Traditional IRAs and Distributions From Traditional, SEP, and SIMPLE IRAs Complete this part only if one ...
by airahcaz
Mon Apr 07, 2014 8:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

For some (hopefully correct) reason my 8606 lines 1-15 are blank, line 16 is $550, and line 17 is 0, and line 18 (taxable amount) is $5500. This differs from last year where 16 & 17 were $5000 each and line 18 (taxable amount) was 0! Related, last year's 1040 showed 15a (IRA distributions) as $...
by airahcaz
Mon Apr 07, 2014 7:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

Well, if that was what he did I completely don't understand what his problem with it was. JW I think he has been using backdoor into Roth IRA for several years and was accustomed to seeing the Roth conversion be non-taxable and the TIRA contribution as non-deductible. For 2013, it seems he had a bi...
by airahcaz
Mon Apr 07, 2014 6:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

AND NJ line 19a is also treating it as taxable, I don't see any deduction line that would cancel this out like on fed... I suppose I will have to pay NJ tax on the $5500 NJ doesn't allow deductions for traditional IRA contributions, so your NJ basis in the IRA is 5500; you have to tell your tax sof...
by airahcaz
Sun Apr 06, 2014 9:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

There is a TurboTax question that asks if this $5500 was already taxed by NJ. I answered No. If I simply answer yes, the $5500 is not taxed. Should I simply answer yes? on what basis?
by airahcaz
Sat Apr 05, 2014 9:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

AND NJ line 19a is also treating it as taxable, I don't see any deduction line that would cancel this out like on fed... I suppose I will have to pay NJ tax on the $5500 NJ doesn't allow deductions for traditional IRA contributions, so your NJ basis in the IRA is 5500; you have to tell your tax sof...
by airahcaz
Sat Apr 05, 2014 12:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

AND NJ line 19a is also treating it as taxable, I don't see any deduction line that would cancel this out like on fed... I suppose I will have to pay NJ tax on the $5500 NJ doesn't allow deductions for traditional IRA contributions, so your NJ basis in the IRA is 5500; you have to tell your tax sof...
by airahcaz
Sat Apr 05, 2014 12:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

If TIRA tax deduction was taken, then it would show up on form 1040 line 32. Your subsequent conversion of $5,500 would be taxable essentially offsetting the TIRA tax deduction. Pls check form 1040 line 32 and your 8606 form lines 1-15. 1040: Income section: Line 15a (IRA distributions) is $5500, s...
by airahcaz
Fri Apr 04, 2014 6:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

Well, if that was what he did I completely don't understand what his problem with it was. JW I think he has been using backdoor into Roth IRA for several years and was accustomed to seeing the Roth conversion be non-taxable and the TIRA contribution as non-deductible. For 2013, it seems he had a bi...
by airahcaz
Thu Apr 03, 2014 6:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

Sorry you are correct. Covered by an employer 401K, with high income, was originally ineligible for the TIRA deduction. With now negative AGI, I can see where it is now deductible, as this is saying I had zero income. I have a zero balance in TIRA, would contribute annually in Jan and immediately c...
by airahcaz
Thu Apr 03, 2014 5:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

If TIRA tax deduction was taken, then it would show up on form 1040 line 32. Your subsequent conversion of $5,500 would be taxable essentially offsetting the TIRA tax deduction. Pls check form 1040 line 32 and your 8606 form lines 1-15. 1040: Income section: Line 15a (IRA distributions) is $5500, s...
by airahcaz
Thu Apr 03, 2014 4:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

Agree however was ineligible for TIRA tax deduction, and thus back door into Roth annually. This contradicts what you wrote in your opening post. With negative AGI, seems a Roth IRA conversion ($5500) is now taxable? Suppose this is accurate as the contributed money is pre-tax , with negative AGI a...
by airahcaz
Thu Apr 03, 2014 4:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

Having a negative AGI is good for Roth conversion. The Roth conversion is taxable but will be taxed at 0% because the AGI and taxable income are negative. If you knew that your AGI was going to be negative, wouldn't it make sense to convert as much to Roth IRA as possible tax free? Example: Without...
by airahcaz
Thu Apr 03, 2014 1:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

Taxable and being taxed are different concepts. My children get $500 of interest. Interest is taxable. My children have a standard deduction of $1000. $500 minus $1000 is negative $500. Their taxable income is $0. They pay $0 tax. To repeat: $500 of taxable income; tax equals $0. What does your tax...
by airahcaz
Thu Apr 03, 2014 12:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

Taxable and being taxed are different concepts. My children get $500 of interest. Interest is taxable. My children have a standard deduction of $1000. $500 minus $1000 is negative $500. Their taxable income is $0. They pay $0 tax. To repeat: $500 of taxable income; tax equals $0. What does your tax...
by airahcaz
Thu Apr 03, 2014 12:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Roth IRA Conversion deemed taxable

With negative AGI, seems a Roth IRA conversion ($5500) is now taxable? Yes a conversion from TIRA to ROTH is always a taxable event. If you have a negative AGI, the standard deduction mean that even with $5500 more included in income, you would still have a negative (0) taxable income. It is to the...
by airahcaz
Thu Apr 03, 2014 12:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Re: Tax Filing Extension

Sidney wrote:almost always file for an extension


Why?
by airahcaz
Thu Apr 03, 2014 12:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Filing Extension
Replies: 11
Views: 342

Roth IRA Conversion deemed taxable

With negative AGI, seems a Roth IRA conversion ($5500) is now taxable? Suppose this is accurate as the contributed money is pre-tax, with negative AGI all tax withheld is being refunded, so earned income would not have been taxed. Should the Roth coversion be recharacterized (canceled?) for any reas...
by airahcaz
Thu Apr 03, 2014 12:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Conversion deemed taxable
Replies: 35
Views: 2099

Tax Filing Extension

Do you folks file extensions to file taxes? Apparently 7% do. Supposedly there is also less risk of audit?
by airahcaz
Thu Apr 03, 2014 11:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax Filing Extension
Replies: 11
Views: 342

Re: The Boglehead Car -- What is It?

.. I really enjoy my Lexus LS 460, and the impact on my portfolio was minimal given my Boglehead approach to investing. Life is too short not to enjoy it :oops: +1 Love my 2010 Lexus LS460 AWD. Best car that I have ever driven. Rated 99 points out of 100 by Consumer Reports - at the time, the only ...
by airahcaz
Sat Mar 29, 2014 11:15 am
 
Forum: Personal Consumer Issues
Topic: The Boglehead Car -- What is It?
Replies: 150
Views: 10516

Re: The Boglehead Car -- What is It?

.. I really enjoy my Lexus LS 460, and the impact on my portfolio was minimal given my Boglehead approach to investing. Life is too short not to enjoy it :oops: +1 Love my 2010 Lexus LS460 AWD. Best car that I have ever driven. Rated 99 points out of 100 by Consumer Reports - at the time, the only ...
by airahcaz
Sat Mar 29, 2014 8:33 am
 
Forum: Personal Consumer Issues
Topic: The Boglehead Car -- What is It?
Replies: 150
Views: 10516

Re: The Boglehead Car -- What is It?

Elios is a lightweight three-wheeler, meaning it's really a motorcyle and won't have to meet the same safety requirements as a car. I'm more curious if places like California, which have mandatory helmet laws, will require you to wear a helmet while inside the cockpit. Other than that, you still ne...
by airahcaz
Fri Mar 28, 2014 12:26 pm
 
Forum: Personal Consumer Issues
Topic: The Boglehead Car -- What is It?
Replies: 150
Views: 10516

Re: The Boglehead Car -- What is It?

by airahcaz
Fri Mar 28, 2014 12:07 pm
 
Forum: Personal Consumer Issues
Topic: The Boglehead Car -- What is It?
Replies: 150
Views: 10516

Buying a house

Although no one can really predict interest rates, we feel a bit of pressure to buy sooner than later, as of course if they increase rapidly then we'd afford less house.

How much emphasis should we put on buying a house this year versus next?
by airahcaz
Sun Mar 23, 2014 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house
Replies: 3
Views: 579

Re: Leaving Fidelity

On the topic of diversifying institutional risk, any risk of either of these institutions not being around in the future? Any risk of having (and trusting) a fidelity fund vs a vanguard one (assuming the auditors do a proper job each year, but what about potential errors or accounting issues, etc.?)...
by airahcaz
Thu Mar 20, 2014 8:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Leaving Fidelity
Replies: 35
Views: 3033

Re: Leaving Fidelity

Fidelity has treated me well, and I love their online chat feature. Having said that, our family is serviced by their PCG group. Sounds like you would qualify and you should ask for a rep.
by airahcaz
Thu Mar 20, 2014 12:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Leaving Fidelity
Replies: 35
Views: 3033

Re: Short Sale

Seems too good to be true? Reduce income to zero? "Rental Property When you sell a rental property for a loss, you could be eligible for an even-more generous tax benefit. If you owned your rental property for more than one year, your loss is considered a 1231 loss by the IRS. You can use your ...
by airahcaz
Tue Mar 18, 2014 6:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Short Sale
Replies: 4
Views: 538

Short Sale

Excuse the line of questioning, but it is tax time :( NJ resident Is there a 1099-S for all real estate transactions? Don't recall getting one for a rental Short Sale. Is any part of a rental property short sale deductible? (the depreciation in that year, or fees on the HUD for instance?) I know the...
by airahcaz
Tue Mar 18, 2014 11:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Short Sale
Replies: 4
Views: 538

Re: SPY vs BND yields

I will begin by saying that these are extremely different assets and you are comparing apples with oranges. Just because it's called "yield" it doesn't mean it's the same thing. The yield on BND is backed by pieces of paper that get paid on certain dates with almost 100% certainty. The yi...
by airahcaz
Mon Mar 17, 2014 11:45 am
 
Forum: Investing - Theory, News & General
Topic: SPY vs BND yields
Replies: 3
Views: 451

Re: SPY vs BND yields

Any thoughts?
by airahcaz
Mon Mar 17, 2014 10:37 am
 
Forum: Investing - Theory, News & General
Topic: SPY vs BND yields
Replies: 3
Views: 451

SPY vs BND yields

Hi

Strictly from an income perspective, can someone help explain (calculate) the diffeence in yields between SPY and BND? Currently one would receive more income from SPY?

Secondly, when interest rates rise, BND yield (income) should rise, but what about SPY?

Thanks
by airahcaz
Sun Mar 16, 2014 9:50 pm
 
Forum: Investing - Theory, News & General
Topic: SPY vs BND yields
Replies: 3
Views: 451

Re: After tax rollover to Roth 401K to Roth IRA?

I believe the OP means there is the choice of in plan conversion of the after tax contributions (which do NOT count towards the 17.5k limit) or taking an in service rollover to a Roth IRA which is what I would probably do. Right, in-plan rollover to Roth 401K or Roth IRA. I've rolled over to Roth 4...
by airahcaz
Tue Feb 25, 2014 3:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: After tax rollover to Roth 401K to Roth IRA?
Replies: 5
Views: 210

Re: After tax rollover to Roth 401K to Roth IRA?

Many posts on these two comments and both are confirmed allowable (Steve - many are contributing beyond the $17,500 as am I - search these boards, as well as what are called "in-service" rollovers spaddlewit. Question is whether to further rollover from Roth 401 to Roth IRA or not and does...
by airahcaz
Tue Feb 25, 2014 11:30 am
 
Forum: Investing - Help with Personal Investments
Topic: After tax rollover to Roth 401K to Roth IRA?
Replies: 5
Views: 210

Re: 28 Year Old Windfall Advice

When I look up Vanguard Total Stock Market Index Ret Acct VTSMX 0.80% (which is where I'd personally put 100% of it) I see the expense ratio as .17 vs. the .8.

What gives?
by airahcaz
Tue Feb 25, 2014 11:12 am
 
Forum: Investing - Help with Personal Investments
Topic: 28 Year Old Windfall Advice
Replies: 9
Views: 1848

After tax rollover to Roth 401K to Roth IRA?

My 401K plan allows: 1. After tax contributions after meeting the pretax limit of $17,500 2. Rollover of the after tax dollars to a Roth 401K in the same plan 3. Rollover from Roth 401K to Roth IRA The third point is the most interesting. Any disadvantages in performing #3 other than comparing inves...
by airahcaz
Tue Feb 25, 2014 10:58 am
 
Forum: Investing - Help with Personal Investments
Topic: After tax rollover to Roth 401K to Roth IRA?
Replies: 5
Views: 210

Re: Mint Vs Ibank Vs Quicken for mac

I am a long-time Mac user, and I had been running Quicken since 1999 or so. Upgraded regularly through Quicken 2006 and then I finally switched to iBank about a month ago. So far I like it. It took a little getting used to, but so far, so good. The reports have been awesome. Stability seems very go...
by airahcaz
Wed Feb 19, 2014 12:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Mint Vs Ibank Vs Quicken for mac
Replies: 40
Views: 5397

Re: 2013 TurboTax: Which Product? New Rules?

Yeas ago i recall asking TT yrs ago about the difference, and if one is doing more than one return, say a couple each are filing separately, then it makes sense to purchase the desktop version as more than one return can be filed for the same $, unless the online version also offers that ability the...
by airahcaz
Mon Feb 17, 2014 11:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2013 TurboTax: Which Product? New Rules?
Replies: 302
Views: 28941

Re: Where to invest after maxing out 401k, IRA, and HSA?

We are currently in the 28% tax bracket. We don't have any kids yet so I have not started a 529 plan yet, though I plan to start when we do have kids. I am not sure if my 401k plan allows for the after-tax employee contributions above and beyond the $17,500 limit/person, but this does seem to be an...
by airahcaz
Fri Feb 14, 2014 12:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Where to invest after maxing out 401k, IRA, and HSA?
Replies: 18
Views: 2067

Re: Losses in Roth IRA

There are all kinds of options, but none of them may be beneficial enough to pursue. Remember, if your Roth takes a loss after converting, eventually it should recoup the losses and all gains up to the amount of the conversion are not Roth gains, they are just restorations of the converted amount. ...
by airahcaz
Thu Feb 06, 2014 11:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Losses in Roth IRA
Replies: 4
Views: 605

Losses in Roth IRA

If a person has funded their Roth IRA through back door conversion, and suffers losses, nothing really can be done, correct?
by airahcaz
Thu Feb 06, 2014 11:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Losses in Roth IRA
Replies: 4
Views: 605

Re: AAPL

boroc7 wrote:
The fact that they are playing sooth your nerves classical piano on the wait tells you everything you need to know.


eh?
by airahcaz
Mon Jan 27, 2014 6:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: AAPL
Replies: 112
Views: 12877

Re: AAPL

Predictions of what happens in an hour?
by airahcaz
Mon Jan 27, 2014 4:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: AAPL
Replies: 112
Views: 12877

Re: What's your dream car?

One that never needs maintenance, never breaks, and keeps itself pristinely clean on the inside and the outside. Quiet on the inside and with a decent sound system. The Lexus LS460? Lease a big (quiet ride) BMW - no cost maintenance, don't get the big engine version - less likely to have mechanical...
by airahcaz
Mon Jan 27, 2014 2:52 pm
 
Forum: Personal Consumer Issues
Topic: What's your dream car?
Replies: 177
Views: 8956

Re: What's your dream car?

livesoft wrote:One that never needs maintenance, never breaks, and keeps itself pristinely clean on the inside and the outside. Quiet on the inside and with a decent sound system.


The Lexus LS460?
by airahcaz
Mon Jan 27, 2014 12:14 pm
 
Forum: Personal Consumer Issues
Topic: What's your dream car?
Replies: 177
Views: 8956

Re: John Bogle on International Investing

Putting all of ones equity eggs in one country basket seems counterintuitive to the diversification theme. Especially since today's market offers many low-cost index/passive products that are relatively tax efficient. RM The argument is that one is already diversifying across at least (depending wh...
by airahcaz
Tue Jan 21, 2014 3:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: John Bogle on International Investing
Replies: 73
Views: 9359

Re: Canadian RRSP

Your last paragraph is the scenario. I suppose if Canada has no early withdrawal penalty other than the taxes which would be due anyway, and the hassle of the forms annually, it may make the case to cash out - and might outweigh any real advantages (don't seem many) in keeping it there? Really appre...
by airahcaz
Fri Jan 17, 2014 5:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Canadian RRSP
Replies: 16
Views: 765

Re: Canadian RRSP

RRSP. Income is higher.
by airahcaz
Fri Jan 17, 2014 2:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Canadian RRSP
Replies: 16
Views: 765

Re: Canadian RRSP

She has been in the US for about ten years but has not formally declared non resident of CAD. It's unnecessary to file an NR73 and in some cases filing can create a problem. The tax treaty will take care of you. I'll need to check if she has diligently filed those other forms you mention. It's the ...
by airahcaz
Thu Jan 16, 2014 1:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Canadian RRSP
Replies: 16
Views: 765
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