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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
Fri May 30, 2014 7:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

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 7:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

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 6:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

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 6:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

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 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

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 2:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

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
Sun May 25, 2014 1:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

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
Fri Apr 25, 2014 5:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: Wash Sales
Replies: 8
Views: 800

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 7:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: Wash Sales
Replies: 8
Views: 800

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 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Wash Sales
Replies: 8
Views: 800

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
Thu Apr 24, 2014 12:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Wash Sales
Replies: 8
Views: 800

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 6:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 2856

Re: Let's compare 2013 effective tax rates

The 16th is a good day for this thread.
by boglerocks
Wed Apr 16, 2014 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 2856

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 6:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 2856

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 5:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 2856

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 12:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 2856

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 12:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Let's compare 2013 effective tax rates
Replies: 46
Views: 2856

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
Wed Apr 16, 2014 11:11 am
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

Re: SEP instead of IRA?

DSInvestor, my tax guy appears to be under the same impression.
by boglerocks
Tue Apr 15, 2014 5:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

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 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

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 2:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

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
Tue Apr 15, 2014 9:57 am
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

Re: 40% tax rate???

I'm OK with looking foolish.

Is a 40% *effective* rate typical on $125K?
by boglerocks
Mon Apr 14, 2014 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1358

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 7:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1358

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 7:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1358

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 7:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1358

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 ...
by boglerocks
Mon Apr 14, 2014 7:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1358

Re: 40% tax rate???

So everybody making $72,501 or more is paying 40% or more in income tax?
by boglerocks
Mon Apr 14, 2014 7:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1358

Re: 40% tax rate???

Yeah, I don't mean to make it political. I'm genuinely looking for an unemotional answer to those two questions.
by boglerocks
Mon Apr 14, 2014 7:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1358

40% tax rate???

My business made a lot more money this year than it has before and I'm astonished to find out I'm paying about 40% of my profits to income tax. This seems to be due to being in the 25% federal tax bracket, plus California state income tax, plus self-employment tax. This really feels outrageous to me...
by boglerocks
Mon Apr 14, 2014 7:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: 40% tax rate???
Replies: 26
Views: 1358

Re: SEP instead of IRA?

Thanks everyone. I'm amazed my tax guy would recommend I switch from an IRA to a SEP since it sounds like it would be more expensive.
by boglerocks
Sun Apr 13, 2014 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

Re: SEP instead of IRA?

I have 3 employees. How does that affect things?
by boglerocks
Sun Apr 13, 2014 6:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

Re: SEP instead of IRA?

Thanks, I've actually been running a business for almost 15 years. Any other considerations?
by boglerocks
Sun Apr 13, 2014 5:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

SEP instead of IRA?

I've been contributing ~$5K to my IRA each year but this year my tax guy is telling me to contribute ~$20K to a SEP IRA instead. Is there anything I should consider before making this change?
by boglerocks
Sun Apr 13, 2014 5:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP instead of IRA?
Replies: 28
Views: 1250

Re: Is brokerage money protected?

I'm also curious about the margin question darrellr brought up if anyone know about that.
by boglerocks
Mon Mar 17, 2014 11:33 am
 
Forum: Investing - Help with Personal Investments
Topic: Is brokerage money protected?
Replies: 18
Views: 1611

Re: Is brokerage money protected?

Very cool, thank you for the info.
by boglerocks
Thu Mar 13, 2014 2:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is brokerage money protected?
Replies: 18
Views: 1611

Re: Is brokerage money protected?

That's a pleasant surprise. So I would be covered up to $500K of which up to $250K could be cash.
by boglerocks
Thu Mar 13, 2014 2:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is brokerage money protected?
Replies: 18
Views: 1611

Is brokerage money protected?

Hypothetically, if Scottrade were to go bankrupt, would I lose the cash in my account there? What about the stock?
by boglerocks
Thu Mar 13, 2014 2:07 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is brokerage money protected?
Replies: 18
Views: 1611

Re: Bitcoins as investment

UPDATE: Mt. Gox loses customers' bitcoins, files for bankruptcy


As I said above:

No one should keep a substantial amount of money in an exchange.
by boglerocks
Fri Feb 28, 2014 1:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

Re: Bitcoins as investment

It's been in circulation for over 5 years. How long does it take to not be a flash in the pan?
by boglerocks
Fri Feb 28, 2014 10:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

Re: Bitcoins as investment

If not exchanges where can bit coins be stored? Since they don't exist in the physical world, bitcoins aren't actually stored anywhere. What they are is recorded, and they're recorded in what's called the bitcoin blockchain which works exactly like a ledger. The blockchain is public and by looking ...
by boglerocks
Thu Feb 27, 2014 10:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

Re: Bitcoins as investment

Any change in assessment since November?


For me, the short answer is 'no'. The price is down 50% since the new year but it's up 500% since September when I started buying. No one should keep a substantial amount of money in an exchange (ie MTGOX).
by boglerocks
Wed Feb 26, 2014 11:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Bitcoins as investment
Replies: 210
Views: 14253

Re: Leased a new car -- now what?

Is the tax deduction just simpler and easier with a lease or do you actually come out ahead compared to buying?
by boglerocks
Tue Feb 18, 2014 1:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Leased a new car -- now what?
Replies: 20
Views: 2681

Re: Leased a new car -- now what?

One of the pros of leasing which I find really attractive is that you don't have to pay sales tax on the entire value of the car.

Why do people say leasing is most beneficial if you can deduct the lease payments from your business expenses? Wouldn't the same apply if you were to buy the car?
by boglerocks
Mon Feb 17, 2014 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Leased a new car -- now what?
Replies: 20
Views: 2681

Re: Leased a new car -- now what?

Thanks guys, I'll put the lease contract in the glovebox.
by boglerocks
Sun Feb 16, 2014 12:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Leased a new car -- now what?
Replies: 20
Views: 2681

Re: Leased a new car -- now what?

But the day you go to the dealer to sign papers and pick up your car you will get a "receipt" of sorts that is the "lease contract" This contract will show what you paid, your payment and details. This contract will act as your car registration until your get the official regist...
by boglerocks
Sat Feb 15, 2014 10:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Leased a new car -- now what?
Replies: 20
Views: 2681

Re: Leased a new car -- now what?

Thank you 123!
by boglerocks
Thu Feb 13, 2014 1:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Leased a new car -- now what?
Replies: 20
Views: 2681

Leased a new car -- now what?

My wife and I just leased a new car and we're pretty excited. We've been out of the country for a while and without a vehicle so I'm hoping to double-check with you guys to be sure I'm not forgetting anything. 1. I'm sure I need to contact the CA DMV and do something. I need license plates and proof...
by boglerocks
Wed Feb 12, 2014 9:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Leased a new car -- now what?
Replies: 20
Views: 2681

Re: [Need help finding health insurance in CA]

There is no Kaiser in my area unfortunately. I've read a lot of good things about them.

Has anyone dealt with a health insurance company that they would recommend?
by boglerocks
Wed Jan 29, 2014 11:58 am
 
Forum: Personal Finance (Not Investing)
Topic: [Need help finding health insurance in CA]
Replies: 54
Views: 2261

Re: [Need help finding health insurance in CA]

Is there any essential difference between exchange policies and non-exchange policies besides price and reimbursement rates and therefore acceptance by doctors?
by boglerocks
Mon Jan 27, 2014 8:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Need help finding health insurance in CA]
Replies: 54
Views: 2261
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