Search found 271 matches

by boglerocks
Tue Jun 23, 2015 11:13 am
Forum: Personal Finance (Not Investing)
Topic: My funds are frozen
Replies: 25
Views: 4615

Re: My funds are frozen

Thanks for all the info and advice guys. I was able to get this escalated to another rep who allowed me to submit a scan of my passport to complete the verification. Glad that's over.
by boglerocks
Tue Jun 23, 2015 1:54 am
Forum: Personal Finance (Not Investing)
Topic: My funds are frozen
Replies: 25
Views: 4615

Re: My funds are frozen

I'm just on vacation for the summer guys. I rent and live in the US. No conspiracy. :( I had considered living outside of the US a few years ago. There's probably mention of that in these forums somewhere.
by boglerocks
Mon Jun 22, 2015 1:26 am
Forum: Personal Finance (Not Investing)
Topic: My funds are frozen
Replies: 25
Views: 4615

Re: My funds are frozen

I don't think the OP has come clean with all pertinent information. Here is a previous thread: https://www.bogleheads.org/forum/viewtopic.php?f=2&t=131340 What information am I withholding? If you have a theory, feel free to post it. There are actually no dots to connect here but I'm not sure w...
by boglerocks
Sat Jun 20, 2015 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: My funds are frozen
Replies: 25
Views: 4615

Re: My funds are frozen

They're refusing to accept my mailing address since it's a mailbox service company. Should they be accepting it? Every bank I deal with does.
by boglerocks
Sat Jun 20, 2015 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: My funds are frozen
Replies: 25
Views: 4615

Re: My funds are frozen

Spain... they're next....
by boglerocks
Sat Jun 20, 2015 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: My funds are frozen
Replies: 25
Views: 4615

Re: My funds are frozen

I'm a US citizen on vacation. But seriously that's the best I can do?
by boglerocks
Sat Jun 20, 2015 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: My funds are frozen
Replies: 25
Views: 4615

My funds are frozen

A very small US financial institution I do business with has frozen my funds because I'm out of the country right now and can't verify my address by responding to a letter sent there. I've provided them with my full name, address, SSN, DOB, and a photo of my driver's license. Is this legal? Do I hav...
by boglerocks
Wed Apr 15, 2015 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Last-minute tax advice?
Replies: 11
Views: 638

Re: Last-minute tax advice?

I have 7 employees, does that mean the 401k won't be effective in saving money? Should I open a 401k for myself? The first quarterly estimated payment is not included in these numbers. It's ~$14K. By the way, what are my options for making these payments today? Checks in envelopes postmarked today, ...
by boglerocks
Wed Apr 15, 2015 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Last-minute tax advice?
Replies: 11
Views: 638

Re: Last-minute tax advice?

Smooth operation terran, thanks.
by boglerocks
Wed Apr 15, 2015 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Last-minute tax advice?
Replies: 11
Views: 638

Re: Last-minute tax advice?

I should get out of business and into long-term investing then. :) My wife is actually a legitimate W2 employee of mine and has been for years. I will look into a defined contribution plan. Is that something I need to kick into action right away or can I wait until the last minute like I did this ye...
by boglerocks
Wed Apr 15, 2015 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Last-minute tax advice?
Replies: 11
Views: 638

Re: Last-minute tax advice?

He's a CPA.

I should also mention that I'm married and we had our first child this year. We don't own any real estate.
by boglerocks
Wed Apr 15, 2015 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Last-minute tax advice?
Replies: 11
Views: 638

Last-minute tax advice?

My business has been growing fast and this year I find myself with an unbelievable (to me) tax bill. My total income is ~$240K (line 22), I'm making ~$50K in SEP contributions, I already paid ~$30K in estimated payments, and now my (understandably very busy) tax guy says I owe ~$20K to the feds and ...
by boglerocks
Sat Dec 20, 2014 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Happy with Barclays savings account?
Replies: 24
Views: 11883

Re: Happy with Barclays savings account?

joe8d wrote:Barclays just raised the Online Savings Account rate from 0.9% to 1.0%.


And more importantly, they gave the new rate to current account holders. :) I love Barclays.
by boglerocks
Fri Nov 21, 2014 7:30 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

LOL! I mentioned that this would be applicable only as a "very special circumstance". Yes, very special. You defined the very special circumstance this way: That VSC is when the total loss of all one's IRAs exceeds 2% of one's adjusted gross income and then one can put the loss as an misc...
by boglerocks
Fri Nov 21, 2014 12:35 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

529 for starters which then points to 590. Google found that for me. I found this in Publication 590: Recognizing Losses on Traditional IRA Investments If you have a loss on your traditional IRA investment, you can recognize (include) the loss on your income tax return, but only when all the amount...
by boglerocks
Tue Nov 18, 2014 6:00 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

Are you going to read the IRS publication and rules for all this, or are you going to go by what an anonymous internet poster writes? I brought this up with my tax guy. I said: I read that I can actually liquidate and withdraw all of my IRA holdings if doing so would amount to a loss equal to 2% or...
by boglerocks
Tue Nov 18, 2014 5:17 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

Are you going to read the IRS publication and rules for all this, or are you going to go by what an anonymous internet poster writes? Well I like to kick it off with a little help from my anonymous friends before I check with a pro and then finally take the plunge. No good? What did you invest in t...
by boglerocks
Mon Nov 17, 2014 2:01 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

It looks like I would have an $18K loss if I liquidated all three of my IRA accounts which is about the same amount as the value of my current holdings there. So if I liquidate them, I would be allowed to pull all funds out of my IRAs without penalty, write off $15K against regular income (if 2% of ...
by boglerocks
Mon Nov 17, 2014 12:09 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

That VSC doesn't seem all that special. :) If my adjusted gross income is $150K, I only need an unrealized loss of $3K in all of my IRAs combined in order to be allowed to liquidate all of them and and write the entire loss off against my regular income if I itemize? Sounds too good to be true.
by boglerocks
Sun Nov 16, 2014 10:52 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

What about IRA accounts? I have a Traditional, Roth, and SEP. Which of those should I harvest losses from?
by boglerocks
Sat Nov 15, 2014 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

4. What is the total amount of realized losses that you have now? The total amount of unrealized losses that you can realize now? 5. If you are in the 0% LT capital gain tax bracket this year or plan to be next year, let us know. My total realized gain/loss in 2014 is a $90K gain. Unrealized gain/l...
by boglerocks
Sat Nov 15, 2014 12:24 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Re: Tax Loss Harvesting -- go for it?

Sidney wrote:I always harvest unrealized losses. There normally is no cost and usually an upside. I don't stay out of the position though; I move to a similar fund -- but one that I'd be comfortable holding forever if things bounce back quickly.


Good point. I could buy similar stuff without waiting 31 days.
by boglerocks
Sat Nov 15, 2014 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting -- go for it?
Replies: 20
Views: 3673

Tax Loss Harvesting -- go for it?

Tough year in the stock market for me. I started with $250K in holdings, realized gains of $160K ($40K of them long-term) and realized losses of $70K and my current holdings are $90K due to unrealized losses. I want to stick with most of my stocks long-term but maybe selling now to harvest the losse...
by boglerocks
Fri May 30, 2014 6:43 am
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14964

Re: Bitcoins as investment

It's back everyone. I'll get this out of the way in advance: I told you so. EDIT: Up ~30% in the last ~3 days. Did you tell us so? Which one of your posts contain the advance prediction that is specific enough that its accuracy can be verified? I'm telling you so now and I'm saying "I told you...
by boglerocks
Sun May 25, 2014 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14964

Re: Bitcoins as investment

Bitcoins haven't imploded yet? What's taking so long? Oh well, I guess they're down 50% YTD. That seems to validate my opinion of them pretty well. I bought in September for $100 and now they're $570 even after coming down 50% YTD. It's my opinion that is validated. You made a random guess on a lot...
by boglerocks
Sun May 25, 2014 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14964

Re: Bitcoins as investment

EmergDoc wrote:Bitcoins haven't imploded yet? What's taking so long?

Oh well, I guess they're down 50% YTD. That seems to validate my opinion of them pretty well.


I bought in September for $100 and now they're $570 even after coming down 50% YTD. It's my opinion that is validated.
by boglerocks
Sun May 25, 2014 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14964

Re: Bitcoins as investment

It's back everyone. I'll get this out of the way in advance: I told you so. EDIT: Up ~30% in the last ~3 days. Bitcoin is still way below it's peak value, and so is far too volatile to be considered a stable store of value. Stable store of value? I don't think anyone has accused it of that. A lot o...
by boglerocks
Sun May 25, 2014 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14964

Re: Bitcoins as investment

cowboysFan wrote:
boglerocks wrote:It's back everyone. I'll get this out of the way in advance: I told you so.

EDIT: Up ~30% in the last ~3 days.


Bitcoin is still way below it's peak value, and so is far too volatile to be considered a stable store of value.


Stable store of value? I don't think anyone has accused it of that.
by boglerocks
Sun May 25, 2014 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14964

Re: Bitcoins as investment

chaz wrote:Some ATMs are being set up to convert bitcoins into legal currency, at least one in a casino.


There are more every day:

http://bitcoinatmmap.com/loc/north-america/
by boglerocks
Sun May 25, 2014 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14964

Re: Bitcoins as investment

It's back everyone. I'll get this out of the way in advance: I told you so.

EDIT: Up ~30% in the last ~3 days.
by boglerocks
Fri Apr 25, 2014 4:56 pm
Forum: Investing - Help with Personal Investments
Topic: Wash Sales
Replies: 8
Views: 899

Re: Wash Sales

Maybe I'm doing it wrong. Right now, my strategy with stocks is not to sell until my average basis in the shares I currently hold is below the stock's current price. I don't know when that happens (and by how much) if the average basis displayed to me is affected by wash sale rules. For example, let...
by boglerocks
Thu Apr 24, 2014 6:15 pm
Forum: Investing - Help with Personal Investments
Topic: Wash Sales
Replies: 8
Views: 899

Re: Wash Sales

Well understood guys, thank you. It seems like "real" statistics are at odds with "tax" statistics. Has anyone optimized their tax strategies ("current sell method" in Scottrade) to give them more control over how statistics like Avg Unit Cost and Total Gain/Loss are di...
by boglerocks
Thu Apr 24, 2014 1:54 pm
Forum: Investing - Help with Personal Investments
Topic: Wash Sales
Replies: 8
Views: 899

Re: Wash Sales

Thank you sscritic, that makes sense. I'd like to know the real average cost per share of the shares I currently own as well as my current gain/loss from those shares. But the wash sale rules stand in the way of that since Scottrade displays those values as if they were being reported to the IRS for...
by boglerocks
Thu Apr 24, 2014 11:02 am
Forum: Investing - Help with Personal Investments
Topic: Wash Sales
Replies: 8
Views: 899

Wash Sales

Recently I noticed the Avg Unit Cost and Total Gain/Loss columns in my Scottrade account weren't accurate. I called them and it turns out it's due to wash sale rules. Please tell me if I understand this correctly. I buy 1 share at $10 and sell it at $5. Then, less than 30 days later, I buy it again ...
by boglerocks
Wed Apr 16, 2014 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 3135

Re: Let's compare 2013 effective tax rates

I agree, but I think the problem is that those with a W2 don't have an easy way to find out how much they paid for social security and medicare taxes.

Edit: Unless they look at their W2 I guess. I'm all for it if people are willing to put in the effort. It would paint the most complete picture.
by boglerocks
Wed Apr 16, 2014 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 3135

Re: Let's compare 2013 effective tax rates

The 16th is a good day for this thread.
by boglerocks
Wed Apr 16, 2014 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 3135

Re: Let's compare 2013 effective tax rates

What if you calculated your effective tax rate after backing out the self employment tax (1040 line 56)? Effective tax rate = Gross Income / (total tax - self employment tax) That sounds good. How about 1040 line 55 divided by line 37 with state taxes and payments included in the numerator in a sep...
by boglerocks
Wed Apr 16, 2014 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 3135

Re: Let's compare 2013 effective tax rates

I'm sorry everyone. I didn't realize I had opened yet another can of worms. From form 1040, how about line 61 divided by line 37. Then a second number which includes in the numerator any state income tax (and payments already made there). In California that's line 64. I get: 25% rate, 30% including ...
by boglerocks
Wed Apr 16, 2014 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 3135

Re: Let's compare 2013 effective tax rates

Isn't "effective rate" well-defined? What am I missing?

http://www.investopedia.com/terms/e/eff ... axrate.asp
by boglerocks
Wed Apr 16, 2014 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 3135

Let's compare 2013 effective tax rates

I thought it would be interesting to compare 2013 effective tax rates along with federal tax brackets and any interesting tidbits. Here's mine:

30% effective rate
25% bracket
SEP deduction
by boglerocks
Wed Apr 16, 2014 10:11 am
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1326

Re: SEP instead of IRA?

Does this mean that since I just contributed to my SEP and deducted that contribution from my 2013 return, I can't make a Traditional IRA deduction on my 2014 return even if I don't contribute to SEP in 2014? Or since I did not make a Traditional IRA deduction on my 2013 return, I can make such a de...
by boglerocks
Tue Apr 15, 2014 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1326

Re: SEP instead of IRA?

DSInvestor, my tax guy appears to be under the same impression.
by boglerocks
Tue Apr 15, 2014 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1326

Re: SEP instead of IRA?

So if I start a SEP IRA today and contribute to it today and my wife (who is also an employee) starts a SEP IRA today and I contribute to it today and I deduct both of those contributions on our joint 2013 tax return, we can also deduct $11K in Traditional IRA contributions on our 2013 tax return, b...
by boglerocks
Tue Apr 15, 2014 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1326

Re: SEP instead of IRA?

I (stupidly) didn't realize that the tax bracket income levels change when moving from joint to separate returns so it looks like we're filing jointly since I would stay in the 25% bracket anyway. If I contribute to my SEP and to my wife's SEP on our joint return, is it correct that we aren't able t...
by boglerocks
Tue Apr 15, 2014 8:57 am
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1326

Re: SEP instead of IRA?

I'm taking another look at this and I think a SEP might actually work really nicely in my situation. My wife is the only employee who has been working for me in 3 of the last 5 years. My contribution to myself would be $20K and my contribution to her would be $7K. $27K in deductions would drop me fr...
by boglerocks
Mon Apr 14, 2014 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1429

Re: 40% tax rate???

I'm OK with looking foolish.

Is a 40% *effective* rate typical on $125K?
by boglerocks
Mon Apr 14, 2014 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1429

Re: 40% tax rate???

Learn more? You mean like start a discussion on the finest internet forum in existence? Alright.
by boglerocks
Mon Apr 14, 2014 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1429

Re: 40% tax rate???

What is the difference between the marginal rate and effective rate in a case like that?
by boglerocks
Mon Apr 14, 2014 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1429

Re: 40% tax rate???

So maybe the answer is to get out of business and into long-term investments for the 15% tax rate? :) I'm only half kidding.
by boglerocks
Mon Apr 14, 2014 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1429

Re: 40% tax rate???

Since when is social security tax income tax? Social security tax is social security tax. Since when is medicare tax income tax? Medicare tax is medicare tax. If everything is income tax, don't forget your 9% use tax. That must be income tax as well (it goes on your CA 540). Just because something ...

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