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Re: Expensive hobbies and possessions? (B/c you can...)

International travel. I'm still young and no kids so primarily to 3rd world countries and places with physical activities (suck as treks). It is really not that expensive in the scheme of things. $2-5K for two people for two weeks for all the costs. That is the annual car payment on that new car I w...
by billern
Tue Apr 01, 2014 1:30 pm
 
Forum: Personal Consumer Issues
Topic: Expensive hobbies and possessions? (B/c you can...)
Replies: 126
Views: 9182

Re: (Lack of) Emergency Fund - Are We Crazy?

I do this but don't have a mortgage or dependents. I'd like to think I'd have a less aggressive position if I had large fixed monthly costs and/or people who rely on me. It would lower the stress and potential issues substantially which is worth something.
by billern
Mon Mar 31, 2014 10:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: (Lack of) Emergency Fund - Are We Crazy?
Replies: 44
Views: 3444

Re: S corp doing business in multiple states and taxes

SeattleCPA, Thank you so very kindly for answering my question. Looking through your guide, I was then able to find the apportionment guidelines in most of the other states so it looks like I should advise her to register as a foreign entity in the other states and then file both entity returns and...
by billern
Mon Mar 31, 2014 8:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: S corp doing business in multiple states and taxes
Replies: 3
Views: 241

Re: Buying a house with a partner, not married

Simple. Don't buy a property with someone you are not married to.

It sounds like one spouse has the cash for the down-payment. That person can buy the house if it makes sense for him/her and the other spouse can pay rent if they live together if they really want to buy now. Otherwise, wait.
by billern
Fri Mar 28, 2014 6:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a partner, not married
Replies: 23
Views: 1289

Re: FutureAdvisor reducing exposure to US equities

there's only so many ways you can tell people to "pick an allocation and stay the course." if you want to churn out books, blog posts and newsletters, you have to have something new and interesting to talk about, ad nauseam . If you stay the course, all you can talk about is the folly of ...
by billern
Sat Mar 22, 2014 9:56 pm
 
Forum: Investing - Theory, News & General
Topic: FutureAdvisor reducing exposure to US equities
Replies: 10
Views: 1113

Re: Doing my Taxes Myself(for now) but Need a Good Tax Forum

Tax is a very complicated area and there are nuances based upon both tax law and each individual's particular circumstances. That makes the value of online discussions limited unless you know enough to verify what you read. I'm a CPA that works solely on income tax related matters. I don't even trus...
by billern
Wed Mar 19, 2014 9:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Doing my Taxes Myself(for now) but Need a Good Tax Forum
Replies: 4
Views: 543

Re: Should you discuss your wages with your peers?

I just don’t see any upside to sharing it. If you’re overpaid, then people are going to look at your differently and possibly with resentment. If you’re underpaid, not sure what you’re going to do with that information. Not like you can say to your manager “Joe makes $2k more than me, I’d like to b...
by billern
Fri Mar 14, 2014 4:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should you discuss your wages with your peers?
Replies: 82
Views: 6614

Re: Curious outcome, donations and cost basis, 8000%marginal

Print both versions of returns (either paper or pdf) and look at them side by side. You should be able to figure out what is going on with them when you do this.
by billern
Mon Mar 03, 2014 2:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Curious outcome, donations and cost basis, 8000%marginal rat
Replies: 4
Views: 285

Re: $16 BILLION for WhatsApp?!?!?!

At least WhatsApp had the intelligence to accept the offer. That is stupid money! :D
by billern
Wed Feb 19, 2014 7:34 pm
 
Forum: Investing - Theory, News & General
Topic: $16 Billion for WhatsApp?!?!?!
Replies: 51
Views: 3707

Re: Stay for pay, or leave for growth? Seeking opinions.

My immediate instinct at this point is to ride out another 18-24 months where I currently am, finishing my Master's completely this year and then letting my exit tax fall some before revisiting the job hunting process again. On the other hand, at this point I feel like every month\year I spend here...
by billern
Mon Feb 17, 2014 5:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Stay for pay, or leave for growth? Seeking opinions.
Replies: 14
Views: 1196

Re: Jim Cramer thinks I'm an Idiot

Go look at what I've accomplished and what our viewers have accomplished. Stop insulting them with your nonsense and shut up." [/i] I'd love nothing more than to see what his "viewers have accomplished". Since he appears to present no data to bolster the implication that they've done...
by billern
Wed Feb 12, 2014 1:54 pm
 
Forum: Investing - Theory, News & General
Topic: Jim Cramer thinks I'm an Idiot
Replies: 19
Views: 2081

Re: Wells Fargo or Fidelity brokerage?

If the basis is stepped up, I suggest selling it and reinvesting the proceeds.
by billern
Tue Feb 11, 2014 12:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Wells Fargo or Fidelity brokerage?
Replies: 16
Views: 1222

Re: 100% Stocks?

I am a 32 yo newbie to investing and just finished reading BHs Guide to investing and retirement... My question is, for a young person like myself who is not going to retire for some 30-40 years, why not allocate all to stocks? Say 70 total stock market index fund and 30 international stock market ...
by billern
Fri Feb 07, 2014 5:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: 100% Stocks?
Replies: 32
Views: 2105

Re: Report this income?

Report income in the year in which it is received, since you are a cash-basis taxpayer. This is other income, not S/E income. Not reported on Schedule C, not earned income so no SEP and no S/E tax.
by billern
Fri Feb 07, 2014 12:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Report this income?
Replies: 2
Views: 536

Re: Donating Appreciated Securities

As long as the holding period is more than 1 year and you meet the other conditions, you can donate the FMV of the securities donated. The only difference between #1 and #2 is that #2 requires you to pay income tax on the gain on sale while #1 does not. Both should result in the same charitable cont...
by billern
Wed Feb 05, 2014 5:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Donating Appreciated Securities
Replies: 11
Views: 460

Re: $10+ M, age 49, seeking wisdom regarding retirement

Some concern about role model for son (Why is Daddy retired at age 49?). This question seems to indicate that being retired is inferior to working. Turn it around. In retirement, you will be working, but you will be working on the things you want to do, the things you will have defined for yourself...
by billern
Wed Feb 05, 2014 3:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: $10+ M, age 49, seeking wisdom regarding retirement
Replies: 58
Views: 7086

Re: Missed 1099-INT on 2012 Taxes...need help!

They are hard to read by the IRS 1099 matching notices have a table that includes the 1099 income that the IRS has as reported to them. You should be able to compare those to your as filed return and source documents to identify the variance.
by billern
Mon Feb 03, 2014 9:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Missed 1099-INT on 2012 Taxes...need help!
Replies: 6
Views: 581

Re: Doing a new job at work at not getting paid for it

My vote is to find a new job that will pay you what you are worth. I very recently left a previous employer because my responsibilities had gone far beyond the scope of my job description without a pay raise, however I had accepted the increase in responsibility because it was great exposure (I was...
by billern
Mon Feb 03, 2014 2:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Doing a new job at work at not getting paid for it
Replies: 27
Views: 2093

Re: Why Correlation Doesn’t Matter Much

It seems like the main benefit to most investors is that holding low correlation asset classes is that it is less likely that all holdings drop in value significantly at the same time. It is a lot easier to stomach a 20% drop in one holding when another is up 5% when compared to a 15% drop in a one ...
by billern
Tue Jan 28, 2014 7:17 pm
 
Forum: Investing - Theory, News & General
Topic: Why Correlation Doesn’t Matter Much
Replies: 48
Views: 3798

Re: Most expensive [coverdca.com plan] & no doctors accept i

My guess many Dr offices did not accept the contracts being offered for the new plans. I'd guess that they are still negotiating and that more Drs will get in network soon.

OP, why don't you call up your new insurance carrier and ask for their help locating a Dr in your area who does what you need?
by billern
Mon Jan 27, 2014 7:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Need help finding health insurance in CA]
Replies: 54
Views: 1948

Re: Help an old dude

12% - hmmm, seems you would be selling to very high risk customers and you need to remember that risk and reward are related. What is the default rate on these? I bet it is really high. Laura There are people who make a killing doing self-finance sales of cheap houses to deadbeats. The terms of the...
by billern
Sat Jan 25, 2014 2:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help an old dude
Replies: 15
Views: 1668

Re: Schwab Making It Difficult to Switch to Vanguard

This is common practice for custodians transferring accounts. Every firm I have dealt with locks you out of the web-based access to avoid letting you initiate transactions that cause problems with the account transfer process. Sit back and wait for the account transfer process to be completed. You w...
by billern
Mon Jan 20, 2014 7:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Schwab Making It Difficult to Switch to Vanguard
Replies: 23
Views: 2629

Re: Seems odd that tax documents aren't available sooner

As a CPA, I have seen multiple corrected 1099s on one account. The records I've seen are: 1) one account with four corrected 1099s in one tax year and 2) a corrected 1099 issued after October 15th, 2013 for the 2012 tax year. :shock: Giving the brokers a little extra time to get it right the first t...
by billern
Mon Jan 20, 2014 6:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Seems odd that tax documents aren't available sooner
Replies: 39
Views: 2870

Re: HSA - Fidelity - UMB - Arrrrgh!!!!

You will likely receive a payroll tax savings by going with your employer supported custodian and doing pre-tax payroll deferrals. Later, when you build up a substantial balance, you can roll part of the funds over to another HSA provider that offers better investment choices. I use HSABank.com but ...
by billern
Fri Jan 17, 2014 1:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: HSA - Fidelity - UMB - Arrrrgh!!!!
Replies: 11
Views: 486

Re: Truly high earners (>$1M/year) how'd you do it?

You either need very in-demand skills or you need to be a business owner with a substantial equity investment to generate those types of returns.
by billern
Mon Jan 13, 2014 10:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Truly high earners (>$1M/year) how'd you do it?
Replies: 64
Views: 6915

Re: Where to funnel extra money

However, I'm not convinced putting this money into my taxable account will be great either - my portfolio is at a size where I will be fine for retirement if I just let what it's in there grow - which is what I will do. I'd suggest adding it to your taxable account. If you need the money later, you...
by billern
Fri Jan 10, 2014 1:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Where to funnel extra money
Replies: 5
Views: 757

Re: Advice needed on trust tax situation

If it were me I was be raising a heck of a row with that cpa about getting not just the trust but the step-mother's returns wrong. Of course, there is the issue that part of that is up to her, and it doesn't sound like she is that bothered. I bet the cpa is going to come around when contemplating t...
by billern
Fri Jan 10, 2014 12:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice needed on trust tax situation
Replies: 23
Views: 841

Re: Time for a new dentist?

If the dentist is not too pushy, I don't know if I would change unless you can get a personal recommendation of another dentist in town that provides a similar level of service and is either less expensive or does not push extras. I am lucky to have a dentist that does not push extra services. I thi...
by billern
Thu Jan 09, 2014 8:58 pm
 
Forum: Personal Consumer Issues
Topic: Time for a new dentist?
Replies: 8
Views: 883

Re: Good tax man?

I see your point but I'm not sure a CPA designation necessarily bestows those qualities either. The CPA designation tells you two things: 1) This person made it through the various hurdles to get licensed. Most people find the CPA tests extremely challenging so this filters out a lot of people that...
by billern
Thu Jan 09, 2014 6:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good tax man?
Replies: 42
Views: 2192

Re: Good tax man?

I started doing my own taxes years ago. Every year I learn something new as I need to know it. This year it will be a Solo 401K. Last year it was an HSA. The year before it was a Schedule C. The year before that Schedule B or D. I did SE for the first time the year before that. When it is only one ...
by billern
Thu Jan 09, 2014 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good tax man?
Replies: 42
Views: 2192

Re: Good tax man?

Working2, I'd be curious to know what type of federal tax energy credits you might be looking for. There aren't too many available at the federal tax level in the past couple of years. More state tax or local energy company credits might be available, but not knowing what you did or are thinking ab...
by billern
Wed Jan 08, 2014 9:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Good tax man?
Replies: 42
Views: 2192

Re: Take tax hit to move to lower cost fund?

What is your present value factor for looking at the cashflows (taxes paid now versus the future)? What are your assumptions regarding future tax rates? Is your other case holding the fund until death (avoid capital gains) or are you assuming the appreciation will be subject to income tax in a futur...
by billern
Tue Jan 07, 2014 6:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Take tax hit to move to lower cost fund?
Replies: 12
Views: 835

Re: Another HSA Question

As I understand it, you can take the itemized deduction but then you won't be able to use the same expenses to "qualify" a distribution at any time in the future Thanks for the reply, that makes sense. The general feeling is that there will be plenty of qualifying expenses the older we ge...
by billern
Tue Jan 07, 2014 2:13 pm
 
Forum: Personal Consumer Issues
Topic: Another HSA Question
Replies: 3
Views: 294

Re: $1M in debt

Based upon your AGI, I'd suggest you max your retirement accounts then pay as much as humanly possible towards your student loan debt. The student loan debt is not tax deductible at that income level so it is an expensive way to borrow.
by billern
Mon Jan 06, 2014 8:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: $1M in debt
Replies: 49
Views: 6475

Re: CA state capital gains taxes

Is CA a state that does not tax LT gains at a separate rate from ordinary income? This makes the highest CG tax rate the same as the highest ordinary income tax rate while technically there is no cap gains tax rate in that state, gains being ordinary income in such a case. I don't know this but it ...
by billern
Mon Jan 06, 2014 5:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: CA state capital gains taxes
Replies: 18
Views: 3928

Re: Fidelity HSA- $48/year

it sounds like you'll need to check with your employer (or call Fidelity directly?) for true fee details, but the $48 is probably worth it just to skip FICA. the HSA market is still annoyingly opaque and expensive compared to IRAs. and while I sympathize, because these are spending accounts (unlike...
by billern
Thu Jan 02, 2014 7:39 pm
 
Forum: Investing - Theory, News & General
Topic: Fidelity HSA- $48/year
Replies: 15
Views: 1378

Re: Do you ever feel you are being too frugal?

For us it is about being mindful and intentional with our choices. For the OP, I think you know the path that you should explore next; and remember that if whatever you choose doesn't fit quite right for you then you can modify your behaviors going forward. Experiment a bit. Our choices are not nec...
by billern
Mon Dec 30, 2013 9:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you ever feel you are being too frugal?
Replies: 65
Views: 5087

Re: commision free broker

is that a referral link!?!
by billern
Tue Dec 24, 2013 1:05 pm
 
Forum: Investing - Theory, News & General
Topic: commision free broker
Replies: 7
Views: 322

Re: The stereotypes credit card companies use to target us

The whole business of lenders is to minimize risk and, when needed, to price risk into the rate they charge. I think what we are seeing here is the lenders are trying to do what all businesses do -make the most profit possible on a risk adjusted basis. They find certain profiles that look like they...
by billern
Mon Dec 23, 2013 1:57 pm
 
Forum: Personal Consumer Issues
Topic: The stereotypes credit card companies use to target us
Replies: 11
Views: 1071

Re: How to fight work place bullying

While I'm generally all for honesty, I'm not sure that even disclosing this issue on an exit interview is a good idea. It might come back to bite you next time you need a referral. From the actions of this person, it seems clear to me that HR and management are aware of this situation. Why put your ...
by billern
Fri Dec 20, 2013 3:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to fight work place bullying
Replies: 76
Views: 4735

Re: How much should you give for a wedding gift when...

I think the idea that you would give back the value previously given to you is weird. What was it, a loan you are repaying? Give the amount you want to give.
by billern
Fri Nov 22, 2013 8:43 pm
 
Forum: Personal Consumer Issues
Topic: How much should you give for a wedding gift when...
Replies: 55
Views: 3519

Re: How to deal with the temptation to pullback on stocks

Have your IPS define your re-balancing threshold and how frequently you evaluate and re-balance. Stick to it regardless of recent market performance or your emotions.
by billern
Thu Nov 21, 2013 7:39 pm
 
Forum: Investing - Theory, News & General
Topic: How to deal with the temptation to pullback on stocks
Replies: 35
Views: 2188

Re: TIF files vs pdf files

Get a better scanner and check your settings. A good scanner, properly configured, can make a much clearer scan with a smaller file size. A lower quality scanner or one poorly configured can make large scan documents that are harder to read. Also, consider whether you need to turn on all the options...
by billern
Thu Nov 21, 2013 5:11 pm
 
Forum: Personal Consumer Issues
Topic: TIF files vs pdf files
Replies: 14
Views: 953

Re: Massive end of year dump into 401K

The only downside I see is that you may not get match on all your contributions if your employer matches per pay period. Since you can't travel back in time to rectify that, that is water under the bridge and should not be a consideration now.
by billern
Tue Nov 05, 2013 4:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Massive end of year dump into 401K
Replies: 5
Views: 1073

Re: Men's Leather Belt: Recommendations?

I recommend the Mission Belt Company. I have two and absolutely love them. The Mission belt is adjustable with no pre-set holes. http://missionbelt.com/ Ed I remember seeing the owners give a pitch on Shark Tank. It looked like an interesting product. After reading the reviews on Amazon, I'm going ...
by billern
Fri Nov 01, 2013 11:18 am
 
Forum: Personal Consumer Issues
Topic: Men's Leather Belt: Recommendations?
Replies: 45
Views: 4591

Re: Do I lose my 401k employer match when changing jobs?

It depends on the plan and also the choices your former employer makes regarding elective contributions.
by billern
Mon Oct 28, 2013 10:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Do I lose my 401k employer match when changing jobs?
Replies: 15
Views: 1508

Re: When NOT to deduct business expenses, for solo 401K purp

If you have valid business expenses, you have to factor them into your calculation of the allowable retirement plan contribution. Technically, just choosing not to claim an expense on your tax return does not mean your allowable retirement account contribution is increased. It is a similar issue to ...
by billern
Sat Oct 26, 2013 4:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: When NOT to deduct business expenses, for solo 401K purposes
Replies: 8
Views: 851

Re: How to prosyletize to a lazy friend

Since this is one of my closest friends I'm not that worried about alienating him. He knows that I've got his best interests at heart. It's just that he's content in his expensive managed setup and so I need some kind of killer argument to help him realize that he's actually getting ripped off. As ...
by billern
Wed Oct 16, 2013 7:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to prosyletize to a lazy friend
Replies: 27
Views: 2362

Re: Recasting a Mortgage- My situation

Our goal is to pay the house off as soon as possible so I can buy the property I currently rent for my business. If this is your goal, shouldn't you be saving up for a downpayment on the business property so you can finance it? It doesn't seem like having your home paid off will help you buy a busi...
by billern
Tue Oct 15, 2013 11:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Recasting a Mortgage- My situation
Replies: 7
Views: 595

Re: Hedge funds disappoint again

If not this, what can I brag about at cocktail parties!?!
by billern
Mon Oct 14, 2013 11:14 am
 
Forum: Investing - Theory, News & General
Topic: Hedge funds disappoint again
Replies: 2
Views: 321
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