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Re: reputable fee only financial advisor in SoCal

You say you are looking for a financial advisor but if all you need is someone to help with your investments I strongly encourage you to contact Cardiff Park Advisors in Carlsbad. They provide excellent, low cost fixed fee investment management.
by earlyout
Sun Apr 19, 2015 9:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: reputable fee only financial advisor in SoCal
Replies: 4
Views: 249

Re: Single best piece of personal finance advice ever receiv

"Do you realize that paying your advisor 1% is the same as taking a 25% paycut in your retirement income?
"
by earlyout
Sun Apr 19, 2015 7:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Single best piece of personal finance advice ever received?
Replies: 90
Views: 6777

Re: long term capital gain tax vs. roth conversions

What is your objective in taking the capital gain now? Keep in mind that you can donate the stock to charity or pass it on to your heirs with a stepped up basis and the capital gain will never be taxed. My suggestions would be to create detailed scenarios for 1) taking the capital gain now and 2) fo...
by earlyout
Sat Apr 18, 2015 8:58 am
 
Forum: Investing - Help with Personal Investments
Topic: long term capital gain tax vs. roth conversions
Replies: 41
Views: 2338

Re: question about penalty for lack of health insurance

Looking through Form 8962 for the Premium Tax Credit in Turbo Tax Premium, I see that it has a place to enter the month of marriage in Part 2 of the form and also Part 5 which is an alternate calculation for the year of marriage. My guess is that this is only for calculation of the Premium Tax Credi...
by earlyout
Sun Apr 12, 2015 5:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: question about penalty for lack of health insurance
Replies: 7
Views: 898

Re: question about penalty for lack of health insurance

The maximum penalty is 1% or your income above the ACA threshold up to a maximum of $204 per month ($2448 per year). This is the average cost of a bronze plan and agrees with the TT calculation. I did a quick look but did not find whether or not she would be exempt for the first 7 months when she wa...
by earlyout
Sun Apr 12, 2015 12:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: question about penalty for lack of health insurance
Replies: 7
Views: 898

Re: Rent vs Buy (in retirement)

Good recent discussion of same topic here:
viewtopic.php?f=2&t=162803
by earlyout
Sun Apr 12, 2015 12:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rent vs Buy
Replies: 11
Views: 1450

Re: Roth Conversion and Taxes

If the total of your schedule A with the Roth conversion is close to the to the standard deduction, it's possible that w/o the $30,000 of Roth conversion, enough of your medical expenses exceed the 7.5% limitation to make your itemized deductions larger than the standard deduction.
by earlyout
Tue Apr 07, 2015 10:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion and Taxes
Replies: 10
Views: 628

Re: Tax Extension Question: Please help!

IIRC the 330 of 365 days applies to the calendar year. An extension of your filing date will not change the number of days either of you spent in Australia in 2014.
by earlyout
Mon Apr 06, 2015 6:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Tax Extension Question: Please help!
Replies: 9
Views: 525

Re: Keep getting document expired notice

You are not alone with this problem. I think it is a consequence of the switch of the forum to https: For an https: site that is password protected, I think Firefox only allows access to the previous page for a finite period of time. When we try to return to that page, Firefox generates a warning. I...
by earlyout
Sat Apr 04, 2015 12:37 pm
 
Forum: Forum Issues and Administration
Topic: Keep getting document expired notice
Replies: 5
Views: 685

Re: Taxable savings to Roth IRAs?

Don't know what tax bracket you are in but remember that long term capital gain in the 15% bracket has a tax rate of 0%. Moving the money to the Roth accounts may be almost cost free and would be a very good move.
by earlyout
Sat Apr 04, 2015 7:56 am
 
Forum: Investing - Help with Personal Investments
Topic: Taxable savings to Roth IRAs?
Replies: 8
Views: 1068

Re: purchase from Guatemala?

If you do decide to give them your credit card number, call your card issuer first and tell them to expect the charge from Guatemala. Otherwise fraud detection may reject the charge.
by earlyout
Fri Apr 03, 2015 8:31 pm
 
Forum: Personal Consumer Issues
Topic: [how to handle a $100] purchase from Guatemala?
Replies: 24
Views: 1621

Re: Occasional big expenses after retirement

I like your number 1 and we have used that approach now for 15 years. In normal years when there are none of these big expenses we stay at 2.5% or less of the retirement accounts. In years when we have a large expense like a car or special travel expense, the withdrawal may be 3 or 3.5%. Over the ye...
by earlyout
Fri Apr 03, 2015 5:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Occasional big expenses after retirement
Replies: 32
Views: 2692

Re: early retiree, ACA "obamacare" MAGI ? but which numbers

Yes, your AGI (and therefore your MAGI) will be lower because of a capital loss carryover. If you have a capital loss carryover and no capital gain, then the capital loss carryover (limited to -$3000) will appear on line 13 of your 1040 and will lower your AGI.
by earlyout
Fri Apr 03, 2015 8:07 am
 
Forum: Personal Finance (Not Investing)
Topic: early retiree, ACA "obamacare" MAGI ? but which numbers ??
Replies: 25
Views: 3082

Re: early retiree, ACA "obamacare" MAGI ? but which numbers

AGI, line 37/38 of Form 1040, includes traditional IRA distributions (RMDs) and dividends and taxable interest. What did you mean by AGI? MAGI for purposes of the ACA includes your AGI (line 38 Form 1040) plus any untaxed Social Security, tax-exempt interest and foreign income. There may be addition...
by earlyout
Fri Apr 03, 2015 6:33 am
 
Forum: Personal Finance (Not Investing)
Topic: early retiree, ACA "obamacare" MAGI ? but which numbers ??
Replies: 25
Views: 3082

Re: Which brokers do hassle-free Roth cnvrsn recharacterizat

I have had good experience with Schwab over the past 10 years -- both creating new Roth accounts and recharacterizing all or part of a conversion. Never any hassle and never an error on the part of Schwab. I've also found it easy to combine Roth accounts once I know that I will not be recharacterizi...
by earlyout
Thu Apr 02, 2015 3:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which brokers do hassle-free Roth cnvrsn recharacterizations
Replies: 25
Views: 1747

Re: K-1 tax question

File a DC tax return to get your $881 back as a refund.
by earlyout
Sat Mar 28, 2015 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: K-1 tax question
Replies: 8
Views: 902

Re: Ad Valorem tax on new car

The TAVT for Georgia is not a valid federal deduction since it is not assessed annually. Please see the following: http://www.taxact.com/support/1569/georgia---auto-registration-and-ad-valorem-tax-/ http://dor.georgia.gov/general-questions#field_related_links-486-6 https://ttlc.intuit.com/questions/...
by earlyout
Thu Mar 26, 2015 6:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ad Valorem tax on new car
Replies: 8
Views: 909

Re: IRA owner's health declined. Should beneficiaries change

Although many nursing home will accept Medicaid most assisted living facilities that provide care for dementia/Alzheimer's disease sufferers do not accept Medicaid. Furthermore, most nursing homes are not where someone in the early or middle stage of dementia would care to be and not where their car...
by earlyout
Thu Mar 19, 2015 4:12 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA owner's health declined. Should beneficiaries change?
Replies: 27
Views: 1451

Re: IRA owner's health declined. Should beneficiaries change

Peter's question about dementia is another strong reason for your mother to remain as the beneficiary. Long term care expenses are oftentimes completely deductible by the patient and it would be much better for your mother to pay for this with money from her IRA than for you to pay these expenses wi...
by earlyout
Thu Mar 19, 2015 3:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: IRA owner's health declined. Should beneficiaries change?
Replies: 27
Views: 1451

Re: Do I have this right? Cost basis question.

Capital gains taxes and dividend taxes are two distinctly different taxes. Yes, you've paid every year on your dividend taxes. But, the part that confuses me is a fund that distributes LT and ST capital gains regularly that you've paid taxes on already and how that fits into calculating your own ca...
by earlyout
Thu Mar 19, 2015 2:54 pm
 
Forum: Investing - Help with Personal Investments
Topic: Do I have this right? Cost basis question.
Replies: 20
Views: 959

Re: Underpriced house recently sold

It's my house and I can give it away if I want to. If I give it to a charity I get a nice deduction, if I give it to my neighbor, I'll report it on a gift tax return. Zillow will not know until the transfer is recorded with the county. A lot of real estate is "sold" for $1.00 when it is tr...
by earlyout
Thu Mar 19, 2015 8:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Underpriced house recently sold
Replies: 13
Views: 1543

Re: Best approach for transferring mutual fund shares

If the shares are gifted and then sold, there will be a long term gain but the son is below the max of the 15% tax bracket so the long term gain would be taxed at 0%.
by earlyout
Sun Mar 15, 2015 10:01 am
 
Forum: Investing - Help with Personal Investments
Topic: Best approach for transferring mutual fund shares
Replies: 5
Views: 650

Re: Value of Capital Gains Tax Deferral

Is there anything in the U.S. that is taxed on a change in current market value? Paying taxes each year on the change in the market value of investments would certainly complicate tax planning.
by earlyout
Sat Mar 14, 2015 8:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Value of Capital Gains Tax Deferral
Replies: 9
Views: 799

Re: An arm and a leg ... for a middle finger?

Maybe you can be glad it didn't require surgery. Even if your insurance company doesn't get the amount changed, it is a lot less than hand surgery. Your HDHP is still saving you money.
by earlyout
Thu Mar 12, 2015 8:00 pm
 
Forum: Personal Consumer Issues
Topic: An arm and a leg ... for a middle finger?
Replies: 32
Views: 3534

Re: Lower AGI via TIRA to lower health premium?

Certainly, earnings in a traditional IRA are taxed as regular income and we now start to see why modeling this exactly becomes impossible. Let's stay with your 6% growth and look only at this year's IRA contribution of $5000. That $5000 would grow to about $6700. Instead of $500, they would have to ...
by earlyout
Wed Mar 11, 2015 9:38 am
 
Forum: Investing - Help with Personal Investments
Topic: Lower AGI via TIRA to lower health premium?
Replies: 16
Views: 990

Re: Adding Central Air Conditioning to very old home.

Poster wageoghe mentioned the Unico system. We installed a Unico AC system in a 1905 house about 15 years ago. It was a world of difference from having window ACs in the kitchen and bedrooms and made the whole house very livable in the summers. To help smooth out the lag time in the radiator system ...
by earlyout
Tue Mar 10, 2015 8:01 pm
 
Forum: Personal Consumer Issues
Topic: Adding Central Air Conditioning to very old home.
Replies: 20
Views: 1584

Re: Lower AGI via TIRA to lower health premium?

If their tax rate when they use the traditional IRAs will be the same as it is now, you are probably better off maximizing the 2014 ACA premium credit by contributing to traditional IRAs. If you think they will be in a higher tax bracket at retirement than they are now, then you may have to make a g...
by earlyout
Tue Mar 10, 2015 7:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lower AGI via TIRA to lower health premium?
Replies: 16
Views: 990

Re: Lower AGI via TIRA to lower health premium?

Were they in the Federal Exchange for 2014 or just for 2015. TIRA contributions for 2014 will not effect thier ACA premiums for 2015.
by earlyout
Tue Mar 10, 2015 2:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lower AGI via TIRA to lower health premium?
Replies: 16
Views: 990

Re: Lowing Taxable Income / IRA deduction question

I did not work through your numbers but let's assume you are correct and that you can just barely stay out of the 25% marginal tax bracket by making IRA contributions. If you convert this traditional IRA to a Roth, the amount you convert is taxable income so you will be right back where you started ...
by earlyout
Sun Mar 08, 2015 8:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lowering Taxable Income / IRA deduction question
Replies: 9
Views: 447

Re: SS # on check to pay Fed & State taxes?

Is your SSN on your tax return or did you leave that off too?
by earlyout
Sun Mar 08, 2015 5:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: SS # on check to pay Fed & State taxes?
Replies: 8
Views: 863

Re: Is this ethical?

If your friend values his job he should get clearance for this arrangement from his boss. My guess is his boss will put an end to the giveaway.
by earlyout
Sat Mar 07, 2015 5:55 pm
 
Forum: Personal Consumer Issues
Topic: Is this ethical? [Selling company equipment to be disposed]
Replies: 41
Views: 2064

Re: Rapid amending of tax return

If the additional 1099 will create a tax liability on your part, you'll want to get the payment in before April 15. An easy way to do that would be send the payment with the 1040X.
by earlyout
Thu Mar 05, 2015 3:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rapid amending of tax return
Replies: 14
Views: 817

Re: Traditional or Roth IRA? (Saver's Credit available)

Remember that the I in IRA stands for Individual.

You might want to you look at IRS form 8880 and the instructions. The maximum amount that will qualify for the saver's credit for an individual, even if filing jointly, is $2000.
by earlyout
Thu Mar 05, 2015 2:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA account options
Replies: 14
Views: 872

Re: Traditional or Roth IRA? (Saver's Credit available)

I think you're right, the saver's credit should be $800 and $400 if you contribute to IRAs for both parents. The accountant assumed you were only contributing to 1 IRA. It is a tossup on which is the better since they have a low tax rate now and, unless they have large pensions, won't pay a very hig...
by earlyout
Thu Mar 05, 2015 2:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: IRA account options
Replies: 14
Views: 872

Re: Tax payment for interest on joint accounts if unmarried?

I think your first suggestion is best. When you open the account, make it a joint account and make certain that the person in the lower tax bracket provides the ssn for the account. Keep in mind that money is fungible, it doesn't make any difference to the IRS or anyone else if your s.o. puts all th...
by earlyout
Thu Mar 05, 2015 12:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax payment for interest on joint accounts if unmarried?
Replies: 6
Views: 337

Re: Chicago Meatball becoming a Georgia Peach (Relocation)

No, the tax shock will come if the company withholds the extra taxes from your paycheck. Think of just one part of the total move -- the company pays the movers $10,000 to pack and move your household goods. If they withhold 20% of that amount for income taxes that $2000 will come out of your next p...
by earlyout
Wed Mar 04, 2015 9:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Chicago Meatball becoming a Georgia Peach (Relocation)
Replies: 21
Views: 1450

Re: Method for repayment of long term care expenses

There is another consideration you may want to consider in your tax planning for these LTC expenses. Since your Mother's medical deductions and exemptions may be larger than her AGI, this is a good opportunity to convert some of her traditional IRA to a Roth and pay very little, if any, income taxes...
by earlyout
Mon Mar 02, 2015 5:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Method for repayment of long term care expenses
Replies: 18
Views: 836

Re: Form 1099-D - Block 2A Total Cap Gains Distribution

The number reported in Box 2A of the Form 1099-DIV is the total of the capital gain distributions during the year from the mutual funds/etfs held in the account and they are all long term gains. Your tax software will create the appropriate entry for these in Schedule D. This number has nothing to d...
by earlyout
Mon Mar 02, 2015 5:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Form 1099-D - Block 2A Total Cap Gains Distribution
Replies: 3
Views: 288

Re: Where's your Will?

I have copies in a file cabinet at home, copies in our safe deposit box and the attorney that created our estate plan has copies. The original wills and trust documents are with the trustee/executor. Siblings and children have the contact information for the trustee/executor.
by earlyout
Mon Mar 02, 2015 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Where's your Will?
Replies: 46
Views: 3073

Re: Social Security Taxation

The portion of your Social Security that is taxed is based on your income for the entire year.
by earlyout
Sat Feb 28, 2015 3:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security Taxation
Replies: 4
Views: 676

Re: Turbotax 2014: Buyer Beware

That would be very frustrating. I had no problem this year with TurboTax. With a PC there were no issues with saving PDF files, printing, or getting $25 back from my "extorted" upgrade to Premier. There were very sorry about messing up and they were gracious in making things right. Just s...
by earlyout
Fri Feb 27, 2015 7:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Turbotax 2014: Buyer Beware
Replies: 74
Views: 8414

Re: Automatic refresh

The solution suggested by Angst works very well for me --use http://www.bogleheads.org as your starting page and after that all of the pages displayas https://www... Is there some inherent danger to doing it this way?
by earlyout
Fri Feb 20, 2015 8:21 pm
 
Forum: Forum Issues and Administration
Topic: Automatic refresh
Replies: 22
Views: 1566

Re: Music / Song Help

"Seven Spanish Angles" by Ray Charles and Willie Nelson
by earlyout
Thu Feb 19, 2015 10:18 am
 
Forum: Personal Consumer Issues
Topic: Music / Song Help
Replies: 52
Views: 2454

Re: Should I amend last year's 2013 tax return?

Filing an amended return is an easy process so my suggestion is amend your 2013 return so that it is correct and then you 2014 return can also be correct. If you don't amend the incorrect return, you will have two returns that could raise flags and greatly increase you chance of having to explain wh...
by earlyout
Wed Feb 18, 2015 8:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I amend last year's 2013 tax return?
Replies: 5
Views: 680

Re: Health Insurance Debacle, need advice...

The only provider that I have on autopay is my supplementary health insurer. When they pull the premium from my checking account they send an email stating that the premium has been paid. If I ever not receive that email I will first go online and check my bank account and then start making phone ca...
by earlyout
Wed Feb 18, 2015 4:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Debacle, need advice...
Replies: 35
Views: 2743

Re: Automatic refresh

Thank you!

I removed the https:// from the bogleheads.org URL and the site no longer refreshes when I exit an open topic with the "go back" icon. I should note that I do have the "HTTPS-Everywhere" extension installed and did not create a rule for bogleheads.org.
by earlyout
Wed Feb 18, 2015 4:05 pm
 
Forum: Forum Issues and Administration
Topic: Automatic refresh
Replies: 22
Views: 1566

Re: Social Security - collecting portion of husband's

My wife is older than I am and started to receive SS at 62. I filed a restricted application at my FRA and received 1/2 of her FRA benefit, not 1/2 of her reduced benefit, until I was 70. Her FRA benefit was just a little more than 1/2 of my FRA benefit so file and suspend was not necessary. At 70 I...
by earlyout
Wed Feb 18, 2015 12:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security - collecting portion of husband's
Replies: 11
Views: 899

Re: Social Security - collecting portion of husband's

If you wait until your FRA and your spouse is already collecting their retirement benefit, you can file a resitricted application and receive 1/2 of your spouse's FRA benefit. At 70 you can switch to your own benefit which will have increased due to the delayed retirement credits.
by earlyout
Wed Feb 18, 2015 12:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Social Security - collecting portion of husband's
Replies: 11
Views: 899

Re: Converting to a Roth

It depends on your current tax rate. What is your marginal tax rate today and what do you project it to be in the future? Can you save taxes by converting? Usually, conversion only makes sense if you can convert at a tax rate lower than what your tax rate would be for a future distribution from the ...
by earlyout
Wed Feb 18, 2015 12:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Converting to a Roth
Replies: 4
Views: 407
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