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Re: Overcontribution to 401k, how to reflect that on my taxe

Sounds like you did it wrong. Self employed person's SEP goes on 1040 as an income adjustment. Only employees' contribution goes on sch. c. IRS might pick up on the mistake if the contribution is more than 25 percent of w-2 total wages(if any at all). And you should not go ahead with showing a dedu...
by anonenigma
Mon Apr 14, 2014 6:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Overcontribution to 401k, how to reflect that on my taxes
Replies: 14
Views: 571

Re: Overcontribution to 401k, how to reflect that on my taxe

I just did something similar with my wife's SEP, and it was hard to figure out. If there were earnings associated with the money you withdrew, those earnings will be taxed as regular income in 2014, BUT there will be a 10% penalty on those earnings on your 2013 return. In TurboTax, I had to create ...
by anonenigma
Mon Apr 14, 2014 5:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Overcontribution to 401k, how to reflect that on my taxes
Replies: 14
Views: 571

Getting Out of Contract w/ATT Uverse

We have the misfortune of having our internet and home phone service with ATT Uverse. For the past six days, since they had a national outage, we have had neither internet nor home phone service. I have spent nearly three hours on the phone with them, and while the customer service reps are nice, no...
by anonenigma
Mon Apr 14, 2014 5:28 pm
 
Forum: Personal Consumer Issues
Topic: Getting Out of Contract w/ATT Uverse
Replies: 3
Views: 514

Re: Overcontribution to 401k, how to reflect that on my taxe

I just did something similar with my wife's SEP, and it was hard to figure out. If there were earnings associated with the money you withdrew, those earnings will be taxed as regular income in 2014, BUT there will be a 10% penalty on those earnings on your 2013 return. In TurboTax, I had to create a...
by anonenigma
Mon Apr 14, 2014 5:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Overcontribution to 401k, how to reflect that on my taxes
Replies: 14
Views: 571

Re: Can you Max out 2 457b plans during the same year?

Yes, my old job has both, 457b and 401k plans now. I've only used the 457b, but I could open a 401K and put the max $23,000 in it. I'll put $17,500 into my 457b and open a 401K and max it out with $23,000. I could then rollover the 401K to Vanguard IRA. But because of my income, I can not add any m...
by anonenigma
Fri Apr 11, 2014 2:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Can you Max out 2 457b plans during the same year?
Replies: 12
Views: 735

Re: Can you Max out 2 457b plans during the same year?

You can't max out both - that's for sure.

Does your current job have a 403(b) or 401(k) to which you can contribute?
by anonenigma
Wed Apr 09, 2014 11:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can you Max out 2 457b plans during the same year?
Replies: 12
Views: 735

Re: New TV or Sound bar?

I'm happy with the Sony 660 sound bar. Lists for $399 but Amazon is selling it for about $290.
by anonenigma
Wed Apr 09, 2014 9:33 pm
 
Forum: Personal Consumer Issues
Topic: New TV or Sound bar?
Replies: 38
Views: 2049

Re: Tax Question: Overcontribution to SEP

Confusing stuff. I think I have figured out the substitute 1099-R, since Vanguard won't send one until 2015 even though this is for 2013 taxes. Final question: Since the 1099-R shows the return of the contribution, do a keep the full original contribution amount on the Schedule C or reduce it to the...
by anonenigma
Sat Apr 05, 2014 4:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Question: Overcontribution to SEP
Replies: 9
Views: 391

Tax Question: Overcontribution to SEP

In my wife's first year as a consultant, I was a little too aggressive with the employer contribution to her SEP. I had Vanguard return $2,500, which yielded a check for $2,601. Am I correct that the contribution returned just becomes income for 2013 and the dividends the contribution earned will be...
by anonenigma
Sat Apr 05, 2014 12:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Question: Overcontribution to SEP
Replies: 9
Views: 391

Re: California getaway

Fly into L.A. Drive to Back Bay Inn just south of Morro Bay via Santa Ynez Valley, stopping at the Los Olivos Grocery for lunch and Beckmen and Brander wineries for tastings (maybe free tickets from Los Olivos Grocery). Back Bay Inn is nice, relaxed, reasonably priced - Noi's Thai food in town. Driv...
by anonenigma
Wed Mar 05, 2014 9:19 pm
 
Forum: Personal Consumer Issues
Topic: California getaway
Replies: 42
Views: 1401

Re: Move to California means what $ ?

If wine is a big motivator, consider Central California as a less expensive alternative. There are great wineries in Paso Robles.
by anonenigma
Tue Mar 04, 2014 2:14 am
 
Forum: Personal Consumer Issues
Topic: Move to California means what $ ?
Replies: 55
Views: 4335

Re: The Great 100 thousand dollar pension question.

Double check whether the five years of airtime count toward the 25 year service requirement. I bought five year of airtime in my state teachers retirement system (before it was no longer permitted) but it did not count toward any of the longevity incentives. Otherwise, as long as your pension is gua...
by anonenigma
Sun Mar 02, 2014 12:35 am
 
Forum: Personal Finance (Not Investing)
Topic: The Great 100 thousand dollar pension question.
Replies: 65
Views: 6155

Group Term Life Via Employer

I know nothing about life insurance but just received an offer from my school district (vendor is ING) for supplemental group term life. I'd like to know if it's a good deal or not. Cost per month per thousand dollars of benefit is $0.222 for ages 55-59 and $0.317 for ages 60-64. For five times my s...
by anonenigma
Sat Mar 01, 2014 5:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Group Term Life Via Employer
Replies: 20
Views: 1168

Re: Nice couches are pricey, where I can get them for less?

There's a whole universe of knockoffs. We recently bought a Baxton Studio club chair that was clearly "inspired" by a chair at Crate and Barrel. Both original and knockoff were very comfortable, but the knockoff was about $360 compared to $1199 at Crate and Barrel. I purchased from Oversto...
by anonenigma
Sun Feb 16, 2014 11:23 pm
 
Forum: Personal Consumer Issues
Topic: Nice couches are pricey, where I can get them for less?
Replies: 43
Views: 3103

Re: Net Worth Survey 2014 Interactive Dashboard

I didn't do the survey, but I'm curious as to what multiplier was used to assess the value of a pension with (and without) COLA.
by anonenigma
Mon Feb 10, 2014 11:15 am
 
Forum: Investing - Theory, News & General
Topic: Net Worth Survey 2014 Interactive Dashboard
Replies: 27
Views: 4150

Re: Cost Analysis: Living in CA vs the South

I live in a 2 br. apt in the City of Los Angeles, so electric is with muni DWP. Allow $50 a month w/o any AC. If the city picks up your trash, add another $5 a month. For gas, figure $130 in a very cold month and $15 in a month in which the heat is never used. Average it at $60-70. Figure total util...
by anonenigma
Thu Jan 30, 2014 4:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Cost Analysis: Living in CA vs the South
Replies: 79
Views: 5500

Re: good coffee grinder and roaster

I use a Capresso 560 burr grinder - around $90 at Amazon. It doesn't burner the coffee, which fast grinders do.
by anonenigma
Sun Jan 26, 2014 1:05 am
 
Forum: Personal Consumer Issues
Topic: good coffee grinder and roaster
Replies: 19
Views: 1178

Re: TIAA Traditional in IRA - PAYING just 1%

Of course, they won't have many new deposits offering that rate, so all they're doing is driving away customers. I just opened a Roth with Vanguard and will direct my 2014 contribution there. What's troubling to me is that a 3% minimum was promised when I opened the account. They're sticking to that...
by anonenigma
Mon Jan 20, 2014 6:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional in IRA - PAYING just 1%
Replies: 15
Views: 950

Re: Constructive Criticism and Tough Love

Who is John Galt? “There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged . One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, un...
by anonenigma
Sun Jan 19, 2014 3:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Constructive Criticism and Tough Love
Replies: 45
Views: 4249

Re: My wife's 403(b) doesn't seem too great.

Of course in reality, he's an employee of the company administering her plan, which is one of several vendors her employer offers. Probably not. He's likely an independent salesman who is "appointed" to several companies. The quarterly fee is not unusual - $15 per year for plan administra...
by anonenigma
Sat Jan 18, 2014 11:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: My wife's 403(b) doesn't seem too great.
Replies: 18
Views: 1265

Re: Do you Invest in a 457 and a 403, at the same time?

jwillis77373 wrote:
After 50, or in the same year you turn 50, with catch-up that's 17,500 per account or 35,000 and then 6,500 for your choice of IRA for a total of $41,500 per year.

Not quite. After age 50, it's 23,000 in 403(b) and 457(b) plus $6,500 in IRA - a total of $52,500.
by anonenigma
Sat Jan 11, 2014 1:05 am
 
Forum: Investing - Theory, News & General
Topic: Do you Invest in a 457 and a 403, at the same time?
Replies: 24
Views: 1696

Re: TIAA Traditional in IRA - PAYING just 1%

My 457(b) has a guarantee of 1% but currently pays 3.35%. That's why it was a surprise that the IRA delivers no more than the 1% it guarantees.
by anonenigma
Fri Jan 10, 2014 9:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional in IRA - PAYING just 1%
Replies: 15
Views: 950

TIAA Traditional in IRA - PAYING just 1%

Several months ago TIAA-CREF announced that it would no longer guarantee a 3% minimum return on new IRA funds (rollovers and deposits) invested in the TIAA Traditional Annuity. The new guaranteed would be 1%. Apparently, 1% is not just the minimum. It's also what TIAA-CREF will pay on new money. My ...
by anonenigma
Fri Jan 10, 2014 7:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: TIAA Traditional in IRA - PAYING just 1%
Replies: 15
Views: 950

Re: The Funniest Movie Ever

Tootsie Groundhog Day Splash Sullivan's Travels The Palm Beach Story Some Like It Hot You Can't Take It With You The Philadelphia Story Moulin Rouge (Luhrmann) Singin' In the Rain Ball of Fire My Favorite Year Modern Times The Gods Must Be Crazy Morgan! The Ruling Class Beverly Hills Cop Trading Pla...
by anonenigma
Sat Jan 04, 2014 3:58 pm
 
Forum: Personal Consumer Issues
Topic: The Funniest Movie Ever
Replies: 201
Views: 10536

Re: What does a Bogle TV look like?

We just replaced a 32" tube tv (use a handtruck to get it downstairs!) with a 55" Samsung LED (model 6003) television. I decided not to get a smart tv - that the smarts could come via the bluray player (Sony 3100). I got the television at Costco when it came down $90 for Black Friday week ...
by anonenigma
Sat Jan 04, 2014 2:09 pm
 
Forum: Personal Consumer Issues
Topic: What does a Bogle TV look like?
Replies: 78
Views: 3933

Re: School District Not Allowing me To Invest

"'m looking at this in terms of the overall retirement provision for employees, and I'm seeing a minor frustration, not the catastrophe that everybody else seems to see. You're evidently not a school employee being ripped off by the 403(b) industry. You presumably do not understand the scope o...
by anonenigma
Fri Jan 03, 2014 11:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: School District Not Allowing me To Invest
Replies: 82
Views: 6057

Re: School District Not Allowing me To Invest

Suggest that your district look at other third party administrators (TPA) for the 403(b). I don't know what their pricing would be for a small district, but TSA Consulting Group is highly competent. As for paying the admin fee for its plan participants, I believe that TIAA-CREF will do that. Use htt...
by anonenigma
Fri Jan 03, 2014 7:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: School District Not Allowing me To Invest
Replies: 82
Views: 6057

Re: School District Not Allowing me To Invest

Ideally, your district will soon permit participation in the state's 457(b) plan and your district's 403(b) plan document permits transfers from the 403(b) to the 457(b) while you're still employed. New York has had a sad history with 403(b), with New York State United Teachers having received tidy ...
by anonenigma
Fri Jan 03, 2014 4:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: School District Not Allowing me To Invest
Replies: 82
Views: 6057

Re: School District Not Allowing me To Invest

You need to provide the names of the vendors.

To some degree, it depends on the state in which you reside. In California, the Insurance Code requires access for any willing vendor.

www.403bwise is a good place to look.

CalSTRS's www.403bcompare may also be helpful.
by anonenigma
Fri Jan 03, 2014 2:57 am
 
Forum: Investing - Help with Personal Investments
Topic: School District Not Allowing me To Invest
Replies: 82
Views: 6057

TIAA Direct

I received a letter yesterday that instructed me to call them if I did not want restrictions placed on my account or have it closed. The letter indicated that they needed to collect certain information from me under the Patriot Act. Does anyone know what this is about, as they were "experiencin...
by anonenigma
Tue Dec 10, 2013 11:14 am
 
Forum: Personal Finance (Not Investing)
Topic: TIAA Direct
Replies: 2
Views: 398

Re: Wireless Blu-Ray Players

Thanks for all the help. Amazon's price on the Sony 3100 (non 3D) just dropped from $85 to $55, so I went for it.

Will report on whether the wifi works well.

Thanks, again, and have a great Thanksgiving.
by anonenigma
Thu Nov 28, 2013 2:24 am
 
Forum: Personal Consumer Issues
Topic: Wireless Blu-Ray Players
Replies: 24
Views: 1375

Re: Wireless Blu-Ray Players

I was just in Costco today and noticed they had quite a few makes and models -- all well below $100. Was almost tempted to get one, but mine is still working fine. They come with more and more built-in apps, but just about the only one I use is Netflix. Unfortunately, the devices Costco has at the ...
by anonenigma
Tue Nov 26, 2013 12:57 am
 
Forum: Personal Consumer Issues
Topic: Wireless Blu-Ray Players
Replies: 24
Views: 1375

Re: Wireless Blu-Ray Players

I'd been looking at the Sony 3100, which seems to have good reviews. Samsung apparently has the BD-F5900 at the same price. It does 3D, which I don't care about at this point. Two questions: 1) Are their wifi signal reception capabilities likely to be the same? 2) Is there an interface advantage to ...
by anonenigma
Mon Nov 25, 2013 1:30 pm
 
Forum: Personal Consumer Issues
Topic: Wireless Blu-Ray Players
Replies: 24
Views: 1375

Re: Wireless Blu-Ray Players

Roku is interesting, but I need to be able to play dvds.
by anonenigma
Mon Nov 25, 2013 12:32 pm
 
Forum: Personal Consumer Issues
Topic: Wireless Blu-Ray Players
Replies: 24
Views: 1375

Wireless Blu-Ray Players

I finally pulled the trigger and purchased a 55" Samsung 6003 LED television - basic, non-smart, only two HDMI connectors (not a gamer). Costco reduced prices by $90, so it came down to $689. The next question is a blu-ray player that, in addition to playing standard dvds really well, will allo...
by anonenigma
Mon Nov 25, 2013 12:20 pm
 
Forum: Personal Consumer Issues
Topic: Wireless Blu-Ray Players
Replies: 24
Views: 1375

Re: Converting to Safety Razors

Do be careful. I switched a few years ago but would occasionally use too much pressure and once did significant damage near my Adam's Apple. I got some Shick Quattro disposables really cheap and have been using them. Will probably switch back to safety razor when I'm done, because I'm not inclined t...
by anonenigma
Tue Nov 19, 2013 4:00 am
 
Forum: Personal Consumer Issues
Topic: Converting to Safety Razors
Replies: 50
Views: 3785

Re: Best website for travel deals?

I like quikbook.com for hotels. For most of their offers, one's credit card isn't charged when the reservation is made. If you want to cancel, you can with no charge within the cancellation policy of the hotel. That means you can book a hotel and, if something better comes up, cancel the reservation...
by anonenigma
Fri Nov 01, 2013 7:43 pm
 
Forum: Personal Consumer Issues
Topic: Best website for travel deals?
Replies: 17
Views: 1749

Is 3D tv better for Non-3D viewing?

Wandered into a Best Buy this morning (next to Costco) to do a little pre-Black Friday research. We still have a tube tv and will want to upgrade eventually. I looked at Samsung LED tvs, and the salesguy stated that, even if I wasn't interested in watching 3D, the 3D television (6400) had a better p...
by anonenigma
Sat Oct 05, 2013 3:51 pm
 
Forum: Personal Consumer Issues
Topic: Is 3D tv better for Non-3D viewing?
Replies: 9
Views: 819

Re: 403b Investment Allocation and Choice

littlebit wrote:
jjustice wrote:
I think the Traditional doesn't allow for thhis rebalancing so I opted out.



I believe that it does.
by anonenigma
Sun Sep 22, 2013 2:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: 403b Investment Allocation and Choice
Replies: 14
Views: 556

Re: Speaker Jumper Cables

Jack wrote:I've got another idea for you. Send me the $25 and I will send you a pack of Wrigley's Spearmint gum.


Is there a sugarless option?
by anonenigma
Sat Sep 14, 2013 7:55 pm
 
Forum: Personal Consumer Issues
Topic: Speaker Jumper Cables
Replies: 19
Views: 1283

Re: Speaker Jumper Cables

I decided to puzzle over the gold vs. silver and just used some decent speaker wire I had around. The sound is much better, They didn't come with the jumper, and whatever I had done shook loose during a recent move. The speakers are a wonder: http://www.soundstage.com/revequip/silverline_sonatina.ht...
by anonenigma
Sat Sep 14, 2013 12:20 am
 
Forum: Personal Consumer Issues
Topic: Speaker Jumper Cables
Replies: 19
Views: 1283

Speaker Jumper Cables

My speakers have four binding posts, so I've connected the speaker wire to the bottom two per the manufacturer. I now need to connect the lower and upper binding posts to each other to get the full range of sound. Some say that speaker wire (of same quality as from amp to speakers) will suffice. Oth...
by anonenigma
Fri Sep 13, 2013 9:27 am
 
Forum: Personal Consumer Issues
Topic: Speaker Jumper Cables
Replies: 19
Views: 1283

Re: 401(k) or 457? supplemental retirement (govt employer)

Access to 457(b) funds is upon separation from employer. If you work past 59.5, that means you wouldn't have access until you leave. With 403(b) and 401(k), access is at 59.5 regardless of whether you remain with the employer. Take a look at the plan documents as well as IRS rule, as plan documents ...
by anonenigma
Fri Sep 13, 2013 9:18 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) or 457? supplemental retirement (govt employer)
Replies: 6
Views: 536

Re: Brand new Teacher - 403b help/advice - Only thing offere

Unfortunately, those are all high expense providers. Avoid annuities. Watch out forfront end loads, wrap fees, advisory fees and high expense ratios on mutual fund platforms.

Also, look to 403bwise.com for guidance. CalSTRS' http://www.403bcompare.com will also be helpful.

Probably Roth IRA.
by anonenigma
Wed Sep 04, 2013 9:36 am
 
Forum: Investing - Help with Personal Investments
Topic: Brand new Teacher - 403b help/advice - Only thing offered
Replies: 33
Views: 2241

Re: Bookshelves

Ended up going Boglehead. My local IKEA had the brown 31 x 72 Billy on sale for $65 - down from $80. The Hemnes was nice, but none of the salespeople thought it would hold up significantly better than the Billy. The 8 Billies with delivery came to about $625. 8 Hemneses with delivery would have cost...
by anonenigma
Tue Jul 23, 2013 4:48 pm
 
Forum: Personal Consumer Issues
Topic: Bookshelves
Replies: 26
Views: 2373

Re: Community college a better option to start college?

Unless a student isn't prepared or the finances just don't work, I recommend going direct to a four-year college. The professors have deeper knowledge and classmates were better students in high school. With cutbacks in community colleges, it's far from certain that a student can complete requiremen...
by anonenigma
Sun Jul 21, 2013 3:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Community college a better option to start college?
Replies: 122
Views: 6056

Re: Bookshelves

Going back and forth on what to do. I currently have solid pine shelves that used to be in a shoe store - 48" x 84" x 12". I cross braced them, added L brackets at the corners, and lacquered them. They're ugly, made of rough boards, but they sure hold a lot of books and could work in ...
by anonenigma
Sat Jul 20, 2013 4:02 pm
 
Forum: Personal Consumer Issues
Topic: Bookshelves
Replies: 26
Views: 2373

Re: Solo 401(k) Question

Both Duckie and mah001 helpfully point out that my 403(b) contribution will cancel out my employee 401(k) contribution and lower the total limit. I understand. Will the 457(b) contribution lower the limit again, or does this not come into play at all? There's no employer contribution on either the 4...
by anonenigma
Thu Jul 18, 2013 12:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Solo 401(k) Question
Replies: 6
Views: 768

Re: Bookshelves

I don't have the Billy bookshelves, but I have Ikea's Hemnes shelves. I purposely got these because it is one of Ikea's only solid wood (albeit only pine) line. They feel pretty solid, and I don't expect the shelves to warp the way particleboard inevitably does over time. Naturally, they are more e...
by anonenigma
Thu Jul 18, 2013 2:11 am
 
Forum: Personal Consumer Issues
Topic: Bookshelves
Replies: 26
Views: 2373

Solo 401(k) Question

At my day job I max out my 403(b) and 457(b). I also max out my Roth IRA. I have a prospect for some substantial consulting work and understand that the Solo 401(k) would allow the greatest deferral - the annual employee amount plus an employer contribution of 25% of net income. Would any of these S...
by anonenigma
Wed Jul 17, 2013 8:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Solo 401(k) Question
Replies: 6
Views: 768
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