Bogleheads.org

Here's an honest (perhaps too blunt) suggestion. Try another CPA. If you have a similar experience, probably you're the problem... i.e., you may not be organized enough in the way you present your data (which will cause anybody you work with to have trouble.) Note: People sometimes tell me things i...

Is it $300 per hour or a $500 fixed fee? Based upon the information you provided, that is definitely more than a 2 hour tax return. I don't think it is an excuse but it sounds like maybe they rushed through your return in order to do it for the $500 fee quote. His personal rate is $300/hr for consu...

After using TurboTax for many years, I decided to use a CPA for my personal income taxes this year because I needed a CPA for an S Corp I had started, and because I was trying to spend more time with my family. But the results were terrible, and I'm wondering what to do. The CPA came highly recommen...

Read page 3 of form 4868. http://www.irs.gov/pub/irs-pdf/f4868.pdf Making Payments Electronically For information on paying your taxes electronically, including by credit card, debit card, or EFTPS, go to http://www.irs.gov/e-pay. You must enroll in EFTPS before you can use it. Go to http://www.eft...

When one makes payment for an extension through EFTPS, is it necessary to file form 4868, or does simply making the EFTPS payment for the extension suffice? The instructions for form 4868 state that making an EFTPS payment is one way to get an extension. "Do not file a paper 4868," it says...

Possibilities for you: A. LLC taxed as a partnership, or LLP if permitted in your state. This allows unequal distribution of earnings, according to whatever the parties agree. If permitted in your state, you could then form an LLC taxed as an S-corp to hold your share of the main LLC/LLP. Your LLC t...

Steve Nelson (SeattleCPA on this forum) in Redmond is knowledgeable, fair, and conscientious. His verbal communication is concise and complete. And FWIW, he's a strong believer in index funds.

http://www.stephenlnelson.com/

Thanks for the replies. The collective opinions reflect what I've been struggling with ... Paying off the mortgage yields a risk-free return of 1.92% post tax. Not anything exciting, but higher than the closest comparable risk-free asset, 10 yr Treasury at 1.88% (1.35% post tax). I could not find an...

hand wrote:Not state in your post, but important - do you have an emergency fund?

Yes, good question. I do have an emergency fund and will edit OP to reflect that.
Thank you.

I'm trying to decide whether to prepay my mortgage. Here's my situation: Mortgage balance : $175K, 10 yr fixed at 3% Tax brackets : 28% federal, 8% state, MFJ. Would still itemize deductions if mortgage paid off. Desired asset allocation : 60/40 equity/fixed Taxable portfolio : $55K cash $350K stock...

If you have a PNC bank in your area, they do have a guarantee against fraudulent losses: https://www.pnc.com/webapp/unsec/ProductsAndService.do?siteArea=/pnccorp/PNC/Home/Personal/Online+Banking/Online+Banking+Guarantee Another solution is to open a business account with Schwab or Fidelity, both of ...

I have not tried the "business" grade laptops from Dell or Lenovo. However, they are usually not available in stores. Any other suggestions?

Title says it all. I'm looking for a Windows laptop with a high quality touchpad. I have tried multiple Windows laptops (Dell, HP, Lenovo, Samsung, Acer, Asus, Toshiba), and the touchpad functionality was far less than that of a Mac laptop. This tech writer describes my experience perfectly: http://...

@SGM: I own the car as an individual. Curious that your accountant said mileage reimbursement from an S corp is reportable as personal income. These sources suggest the mileage reimbursement for business use is only taxable to the extent that it exceeds the IRS standard rate: http://smallbusiness.ch...

I bought a car in Nov 2012 and used it for ~50% business use for a partnership I was a member of. The partnership does not reimburse car expenses, so each partner writes off their own car expenses on their personal tax returns. On 1/1/13, I left the partnership and started a single-member S corp. Th...

You often want to amend because the penalties the IRS assesses if they do the numbers are often a big chunk higher. The math on this all gets pretty tedious but basically the only penalty you really need to watch out for is the 5% per month penalty that gets assessed the first five months. That pro...

OP here. To clarify:

I am not suggesting to avoid paying taxes. Rather, I was trying to see how quickly the IRS would catch this and send me a bill, to avoid the hassle. But it looks like I should go ahead and amend.

In 2011 the IRS refund my wife taxes that were incorrectly withheld, plus interest of about $650. I forgot about the refund when I filed the return because the IRS never sent us a 1099-INT. Obviously, the refunded taxes are not taxable, but the IRS website clearly states that the interest is taxable...

Vanguard's corporate structure is such that the funds are owned by the shareholders, so that in the unlikely event of Vanguard itself failing, the funds are still yours. The site has many, many thread on this topic. If you are concerned about fraud (eg, a hacker drains your account and Vanguard does...

I've started an LLC recently and was alarmed to learn that business bank accounts are not protected from fraudulent transfers. If hackers steal money from a personal account, the bank is responsible to cover the loss, but this is not true for business accounts: http://articles.latimes.com/2010/mar/2...

For dealers in my area, they are trying to make sure the check is good. Most dealers where I live check credit if you're giving a personal check, but do not require a credit check if you present a cashiers or certified check.

For a small business I'm starting next year, my accountant wants me to use the Windows version of Quickbooks. (Mac version doesn't fully support the accountant modifying the QBooks file.) My only computer is a 2008 iMac with 4GB RAM and a 2.4 GHz Intel Core 2 Duo processor. Which option would be bes...

bsteiner wrote:Where is local for you?

Bsteiner
PM sent.

epilnk Like you, I have been very disappointed with many CPAs, no matter how highly recommended. I did have an excellent experience with a phone consultation with Steve Nelson, who posts here occasionally as SeattleCPA, http://www.stephenlnelson.com/. I can honestly say that the fee for 1 hour of hi...

Larry
In my 401k, there are only two bond fund options: TBM and Fidelity TIPS.
With current interest rates, what do you see as the lesser of the two evils?
Thanks,
Mark

Can anyone recommend a good CPA, EA, or other tax preparer in Maryland or Northern Virginia? I have done my own taxes using TurboTax for over 15 years, but this year I plan to set up an LLC with S corporation status. I would be the only employee and owner. I'm sure I could handle my personal return,...

Larry Not to threadjack but what are your thoughts on the new momentum funds be Bridgeway and AQR? I seem to remember reading someone quoting your favorable thoughts on them. Are you recommending them for clients, especially if high value tilt (high negative correlation)? If so, what about asset loc...

NOTE: The great 3% cashback on gas on the Costco Amex does not apply to gas bought at Costco. Their story they told us is that people were scamming them by lining up multiple cars and purchasing all the gas on 1 card. Are you speaking from personal experience with your Costco Amex? The Amex website...

Title says it all. I know this topic comes up frequently, and I have searched the forums and wiki. My focus is on credit cards that provide maximum rebate with a minimum amount of work on my part. Best: Automatic monthly rebates as a statement credit or swept as cash into financial account. Next bes...

Larry Thanks so much for your helpful and concise response. At your firm, what are the higher equity percentages in clients using the highly tilted portfolio? I was thinking 60% equity for myself (young, stable income, high ability/willingness to accept TE & other risks, etc.), but didn't know i...

Larry What is the role if any of adding CCF and/or RE to the Larry portfolio? Suppose you have an investor whose job, labor capital, understanding of markets, lack of TE regret, etc. allow him/her to do the Larry portfolio of USV, ISV, EMV, and high quality bonds. How much extra diversification bene...

My line of business is suffering from escalating competition, and I anticipate that in that next 3-5 yrs, my income, which is currently in the low $100s, will be cut in half. I believe the business will stay solvent, just that the income will be less than before. In this situation, what are the pros...

With Apple, you generally pay full price, because that is what the market will bear.

An acquaintance recently ordered ~50,000 iPads for his business. Apple would not give him a discount.

To Starwood Amex holders: What rebate percentage are you getting for your Starwood points from Amex charges? Last year I obtained a Starwood Amex card. Based on the enthusiastic reviews here, I expected a 2.5-4% rebate toward stays at Starwood hotels, which is pretty good and justifies the $65 annua...

markfaix That is why you do the math, and the "right" answer changes as risk premiums change, in this case for liquidity, unexpected inflation and also what banks are willing to pay relative to Treasuries We have been buying a load of CDs for even high bracket investors as the AT yields o...

Thanks, Larry, for the update.

What do you think about 4-5 yr CDs? Virtually no default risk, and yield ~1% greater than similar maturity Treasuries.

Fastmail.fm Better than Gmail in many ways. Can you give us some specifics? I have used fastmail. It is much faster than gmail. More customization with sieve scripts and aliases are nice. But the search function is woeful (can only search one folder at a time), and storage space is quite limited.

I am debating between a Mac vs Windows-based PC for our next computer. I have carefully read the many Mac vs PC threads in this forum, but I would like to ask for a courteous and specific exchange of information about the two systems. Specifically: What are 3-5 specific features that you like best a...

SmallHi wrote:28% US LV
42% US SV
12% Int LV
18% Int SV

SH:

Do you mind describing your bond allocation and your equity-fixed ratios? Thanks.

Magnetar wrote:Does anyone know if TurboTax is appropriate for more complex returns? I have multiple LLCs and receive K-1s for partnerships. This is mostly why I use my accountant.

I am a member in both an LLC and partnership. Turbo Tax Deluxe handles K-1s without problem.

I recommend using certified mail. Several years ago, the IRS lost my tax return and check. To abate penalties, they requested: 1. Proof of mailing with certified mail receipt 2. Copy of my stop payment request on the original check. If I had been unable to produce these, I would have had to pay hund...

For Maryland residents who use Turbotax and pay estimated taxes: Turbotax does not calculate the correct amount of estimated tax for the following year's taxes. For 2011, Maryland law requires either estimated tax payments totaling 90% of 2011 tax, or 110% of 2010 tax, paid in 4 equal installments. ...

Edited above post to add example for better clarity

I have a question about asset location as it relates to qualified plans, compared with Roth IRAs. My current asset allocation is 50/50, with nearly all bonds in qualified plans (401k and trad IRA) and all stocks in taxable. I do not have a Roth currently. I plan to convert my traditional IRA into mu...

Bad idea. Value may lose relative to the overall market long term. It may even lose very badly in your investing timeframe. But if its just play money to you, and you want to go heavy bonds, and 100 stock SV, then sure, do it. Expectation versus outcome two different things of course, you are givin...

May I ask how you define a 100% tilt to value and how you will accomplish it? The reason I ask is that even if you only had 100% Vanguard Value Index fund, that would not be a 100% tilt to value. I would define 100% tilt to value as using only ETFs or mutual funds that would be considered "val...

Has Larry Swedroe truly suggested this as something real investors should actually do ? Or was it part of a thought experiment illustrating something or other about risk characteristics? Yes, he posted his personal equity portfolio several times: about 50% US SV, 33% intl SV, 17% EMV, but total equ...

To S&Ders: do any of you tilt your equity to 100% value? If so, how long have you done it, and what benefits/pitfalls do you see with this approach? I am thinking about tilting equity to 100% value and then reducing my total equity allocation, as Larry Swedroe has suggested, to achieve a similar...

To meet due date for estimated taxes, do you need it postmarked by the due date, received by the IRS, or "processed" by the IRS (who knows how long that takes) ? If you pay on a certain date with the online system, is the payment effective that day or the next banking day ? I sure wish Va...

@ttcbj – To clarify, the main business 401k is not a solo 401k; it is a traditional 401k w/profit sharing plan for the other partners and employees of the business. However, the investment options for the main business 401k are limited compared with my solo 401k for the side business, so I'm trying ...