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Re: Distributions from a trust & taxes

Trustees have the option to make distributions from trusts for 65 days after December 31 and include that income on the K1 for the previous year. That does not mean they have to. If the trustee includes the income on the 2014 K1, then the beneficiary would include it in his or her income in 2014. pl...
by plannerman
Tue Dec 16, 2014 5:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Distributions from a trust & taxes
Replies: 1
Views: 368

Re: Vanguard and Turbo Tax

For the desktop version
Login to your Vanguard account.
Click on the "TurboTax" link
Do not sign in to your TurboTax account.
Scroll down and click on the "Download" link
The correct price will come up
by plannerman
Tue Dec 16, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard and Turbo Tax
Replies: 11
Views: 1085

Re: Poll: Dividend income to match annual salary?

I have no idea what my income from dividends is.

plannerman
by plannerman
Wed Dec 10, 2014 11:38 am
 
Forum: Investing - Theory, News & General
Topic: Poll: Dividend income to match annual salary?
Replies: 39
Views: 3581

Re: What % of your fixed-income is TIPs?

About 75% of my fixed income is in TIPs. I'm 15 years into retirement and maintain a rolling 10-year TIPs ladder for expected retirement cash flow needs. I forecast my expected future annual cash needs, subtract my other sources of retirement cash flow (SS, company pension) and then purchase individ...
by plannerman
Thu Dec 04, 2014 3:17 pm
 
Forum: Investing - Theory, News & General
Topic: What % of your fixed-income is TIPs?
Replies: 71
Views: 3500

Re: Question about taking Required Minimum Distribution from

Have you considered taking your IRA RMD "in kind"? You would simply transfer a TIP security that satisfied the RMD from your IRA to a taxable brokerage account--you don't have to sell it. Some people don't like TIPs in taxable accounts, but give the interest rates on most TIPs these days, ...
by plannerman
Wed Nov 26, 2014 1:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question about taking Required Minimum Distribution from IRA
Replies: 18
Views: 1843

Re: Advice on Certified Financial Planning Certificate

If all you want to do is pass the certification test, I think online courses would work fine. If you want to learn about personal finance as well as pass the test, I would recommend finding a class. Maybe I was just lucky, but I learned a lot more about personal finances from my classmates than I di...
by plannerman
Tue Nov 25, 2014 1:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advice on Certified Financial Planning Certificate
Replies: 5
Views: 868

Re: What financial tools/software do you use?

I use very comprehensive cash flow software program called Golden Years from Moneytree software.

plannerman
by plannerman
Wed Nov 19, 2014 9:19 am
 
Forum: Personal Finance (Not Investing)
Topic: What financial tools/software do you use?
Replies: 35
Views: 2427

Re: Low cost trust or equivalent?

There could be other "cost frictions" as well. One might be the cost of preparing the federal 1041 trust income tax form and the respective state form. Another could be the higher income tax rates for trusts if all the income is not distributed to the beneficiaries.

planneman
by plannerman
Tue Nov 18, 2014 1:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Low cost trust or equivalent?
Replies: 8
Views: 1135

Re: Traditional Medicare vs Medicare Advantage

Everyone of these Medicare vs Medicare Advantage Plans discussion is fraught with incomplete information, anecdotal information, misinformation and just plain wrong information. There is no such thing as a Medicare Advantage Plan. There are several maybe even hundreds of Medicare Advantage Plans. Th...
by plannerman
Tue Oct 28, 2014 1:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Traditional Medicare vs Medicare Advantage
Replies: 30
Views: 2233

Re: POLL: Gross Annual Retirement Income Before Taxes

My response included RMDs, which are income, but we don't necessarily spend all of the proceeds.

plannerman
by plannerman
Tue Oct 28, 2014 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Gross Annual Retirement Income Before Taxes
Replies: 25
Views: 2028

Re: Vanguard, TIPs, Accrued Interest & RMDs

Thanks Alan, I am still waiting, somewhat impatiently, for Vanguard's response. I will post it if and when I get it. I really doubt they made an error in reporting the balance without accrued interest, but as I said before, I have been unsuccessful find anything that authorizes it. The thing that se...
by plannerman
Mon Oct 27, 2014 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 1815

Re: Vanguard, TIPs, Accrued Interest & RMDs

Vanguard computes my RMD amount for me. They computed my wife's for her and it was incorrect--that's what started this discussion. plannerman OK, I'll bite. Are you saying that Mrs. Plannerman's RMD was understated by the amount of accrued interest on TIPs held in her IRA? Christine, Actually no. V...
by plannerman
Sun Oct 26, 2014 5:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 1815

Re: Vanguard, TIPs, Accrued Interest & RMDs

chaz wrote:Vanguard computes my RMD amount for me.


They computed my wife's for her and it was incorrect--that's what started this discussion.

plannerman
by plannerman
Sun Oct 26, 2014 2:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 1815

Re: Vanguard, TIPs, Accrued Interest & RMDs

Wow, more heat than light in this discussion. What Pub 590 says is “ IRA account balance. The IRA account balance is the amount in the IRA at the end of the year preceding the year for which the required minimum distribution is being figured.” That is the question we are talking about--what is that ...
by plannerman
Sat Oct 25, 2014 3:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 1815

Re: Vanguard, TIPs, Accrued Interest & RMDs

I think I found the answer to my question in Pub 550 The following paragraph covers the treatment of TIPs in a taxable account, but I think it is reasonable to apply it to when interest is constructively received for valuing a retirement account. "Inflation-Indexed Debt Instruments If you hold ...
by plannerman
Sat Oct 25, 2014 5:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 1815

Re: Vanguard, TIPs, Accrued Interest & RMDs

Let me be clear here--I'm talking about individual TIPs bonds, not bond mutual funds.

plannerman
by plannerman
Fri Oct 24, 2014 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 1815

Vanguard, TIPs, Accrued Interest & RMDs

Vanguard reports the value of TIPs ( and I suspect all bonds) less accrued interest. I believe they also use this value to calculate your RMD. I’m certainly no tax expert, but it seems to me ones RMD should be based on the market value of the securities held in your retirement accounts at the end of...
by plannerman
Fri Oct 24, 2014 8:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard, TIPs, Accrued Interest & RMDs
Replies: 22
Views: 1815

Re: [Confused with Medigap Options]

I have been going through the exercise to see if it would be better for me to get the hi-ded plan F or plan G. I took a look at my records for last year to see how I would have fared had I had to pay the $2,180.00 deductible for plan F. It is impossible to figure out what is what. As an example, I ...
by plannerman
Mon Oct 20, 2014 11:39 am
 
Forum: Personal Finance (Not Investing)
Topic: [Confused with Medigap Options]
Replies: 39
Views: 1934

Re: POLL: How fulfilling is your retirement?

It has been the best period of our lives.

plannerman
by plannerman
Sun Oct 19, 2014 9:10 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: How fulfilling is your retirement?
Replies: 34
Views: 3071

Re: "I've had it" at work - how often

That's why they call it work.

plannerman
by plannerman
Sat Oct 18, 2014 3:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: "I've had it" at work - how often
Replies: 151
Views: 12719

Re: What Do You Keep In Your Bank Safe Deposit Box?

I gave up my safe deposit box several years ago after they kept raising the annual fee. Went out and bought a fire resistant (nothing is truly fire proof) lock box for the cost of less than a 2 year safe deposit fee. I use it for important papers. No jewels or precious metals. +1 plus it's a lot mo...
by plannerman
Mon Oct 13, 2014 8:06 am
 
Forum: Personal Finance (Not Investing)
Topic: What Do You Keep In Your Bank Safe Deposit Box?
Replies: 39
Views: 2673

Re: Order TurboTax Now: How to forecast W-2?

I'm thinking about purchasing TurboTax now instead of after the new year like I always do. Reason being is that I want to figure out how much more I need to save to my 401k in order to lower my MAGI enough so that I can contribute to a Roth IRA. If you have the 2013 desktop version of Turbotax it h...
by plannerman
Sat Oct 11, 2014 6:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Order TurboTax Now: How to forecast W-2?
Replies: 4
Views: 607

Re: Medicare Advantage to T Medicare plus supplement

Are you sure you have a "Medicare Advantage" plan, and not a "Medicare Cost" plan? I have a Kaiser Medicare Cost plan (very much like a Medicare Advantage plan - but lightly different) - and, although I have no plans to do so (and have never done so), I can see any provider that...
by plannerman
Fri Oct 10, 2014 6:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage to T Medicare plus supplement
Replies: 17
Views: 1100

Re: Medicare Advantage to T Medicare plus supplement

That sounds like a great Medicare Advantage plan! What does it cost above regular Medicare?


Here are two available in NC https://www.bcbsnc.com/content/medicare ... lueppo.htm

I chose the $57.40/month one for 2015

plannerman
by plannerman
Thu Oct 09, 2014 8:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage to T Medicare plus supplement
Replies: 17
Views: 1100

Re: Medicare Advantage to T Medicare plus supplement

" I choose what docs to go to and when, with no-ones permission required.


With My Medicare Advantage plan I can go to any doctor that accepts Medicare with no referrals. How is that different than yours?

plannerman
by plannerman
Thu Oct 09, 2014 5:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage to T Medicare plus supplement
Replies: 17
Views: 1100

Medicare Advantage to T Medicare plus supplement

There have been a number of threads on this board discussing that once you select a Medicare Advantage Plan that there are only a few instances where if you want to go back to Traditional Medicare that you have a guaranteed issue right to buy a Medigap supplement. Without that right, Medigap insurer...
by plannerman
Thu Oct 09, 2014 1:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare Advantage to T Medicare plus supplement
Replies: 17
Views: 1100

Re: My 2015 Medicare Costs/benefit changes

Could you explain/elaborate how, apparantly, the same medical service is paid more by Medicare, if the practice iw owned by the hospital? For one thing, they charge for both the doctor and the facility--just like if you wert to the ER--even though it's in the same doctors office you have always vis...
by plannerman
Sun Oct 05, 2014 3:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: My 2015 Medicare Costs/benefit changes
Replies: 13
Views: 1622

Re: My 2015 Medicare Costs/benefit changes

My group Medicare Advantage Plan (PPO) went up from $43 to $52--i'm happy. Where we live, many of the specialist's practices have been bought up by the local hospitals (because they can charge Medicare more). The upside for consumers is that because these hospitals are all in network so are these sp...
by plannerman
Sat Oct 04, 2014 10:34 am
 
Forum: Personal Finance (Not Investing)
Topic: My 2015 Medicare Costs/benefit changes
Replies: 13
Views: 1622

Re: Medicare question

I'm not sure OP has an HSA since you can't be 65 (or have Medicare) and an HSA. In our case, it is an HRA (reimbursement account) , and reimburses us only for health care premiums (Medicare pt B, medigap, Rx plan, or advantage plan) but not copays/coinsurance. You are correct HRA not HSA old and co...
by plannerman
Fri Oct 03, 2014 9:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare question
Replies: 8
Views: 929

Re: Medicare question

I have no clue. I think these exchanges may get "commissions" from the from the plans they sell. So maybe mega corp is just unloading benefit plan administration costs to the exchange. I am suspicious, however, that after the first transition year the contributions to the HSAs will decline...
by plannerman
Fri Oct 03, 2014 7:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare question
Replies: 8
Views: 929

Re: Medicare question

Thanks for the replys.

plannerman
by plannerman
Fri Oct 03, 2014 6:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Medicare question
Replies: 8
Views: 929

Medicare question

My wife is on Traditional Medicare and has secondary medical coverage and drug coverage from her former employer. This former employer has decided to get out of the business of providing their Medicare eligible retirees with medical or drug coverage. However, if she purchases either a Medicare Advan...
by plannerman
Thu Oct 02, 2014 6:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Medicare question
Replies: 8
Views: 929

Re: Should I get an Estate Planner?

With a wife and kids, you most certainly need an estate plan. Since you say you are financially naive, I don't think this is an area where you want to try to do something yourself, so yes, you need an estate planner. Find a good estate planning attorney and pay them to create the appropriate wills/t...
by plannerman
Mon Sep 15, 2014 11:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I get an Estate Planner?
Replies: 9
Views: 814

Re: Retiree Poll: Do you own your primary residence?

We currently own our home. However, our next step in retirement is to relocate to a cottage in a Continuing Care Retirement Community. The cottage is owned by the nonprofit corporation that runs the community, but we will get lifetime use of it. All maintenance will be provided for the cottage by th...
by plannerman
Sun Sep 14, 2014 7:52 am
 
Forum: Personal Consumer Issues
Topic: Retiree Poll: Do you own your primary residence?
Replies: 18
Views: 1655

Re: contingent beneficiary for life insurance

Have you considered establishing an Irrevocable Life Insurance Trust to get any proceeds from the insurance out of your estate? The trust could be drafted so that if your spouse predeceases you, the trustee could use the insurance proceeds for the benefit of your minor children. This is a pretty sta...
by plannerman
Tue Sep 09, 2014 7:16 am
 
Forum: Personal Finance (Not Investing)
Topic: contingent beneficiary for life insurance
Replies: 9
Views: 777

Re: POLL: Has a financial firm made a mistake with your mone

40 or so years ago, I had a new car loan from a local bank. Toward the end of the loan, they sent me a notice the the loan was satisfied. I checked my records, and I had only made 35 of the required 36 payments. I notified the bank manager who said something to the effect that they didn't make mista...
by plannerman
Mon Sep 08, 2014 9:39 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Has a financial firm made a mistake with your money?
Replies: 52
Views: 2930

Re: Which generator do you have?

Just replaced a 5.5 KW gasoline portable with a Generac 11 KW natural gas standby generator. First unit cost about $500 15 years ago. Generac was $6000 installed with a transfer switch. The portable unit did the job of providing our essential power needs, but required someone to be home to pull it ...
by plannerman
Mon Sep 01, 2014 8:09 am
 
Forum: Personal Consumer Issues
Topic: Which generator do you have?
Replies: 127
Views: 9343

Re: Which generator do you have?

Just replaced a 5.5 KW gasoline portable with a Generac 11 KW natural gas standby generator. First unit cost about $500 15 years ago. Generac was $6000 installed with a transfer switch. The portable unit did the job of providing our essential power needs, but required someone to be home to pull it o...
by plannerman
Mon Sep 01, 2014 7:26 am
 
Forum: Personal Consumer Issues
Topic: Which generator do you have?
Replies: 127
Views: 9343

Re: Deck - Best Method of Treatment

Do you get snow & full sun on your deck? There were some aweful youtube reviews where this product peeled off after a year. Glad to hear you had a good experience. I like the look of this product. We are in Western NC and the deck faces north. Some, but not much, snow and about half of the deck...
by plannerman
Mon Aug 18, 2014 11:42 am
 
Forum: Personal Consumer Issues
Topic: Deck - Best Method of Treatment
Replies: 15
Views: 1113

Re: Deck - Best Method of Treatment

I can't speak to the durability yet, but I applied Behr's DeckOver (Home Depot) to a 17-year old, very weathered, pressure-treated, southern yellow pine deck last year. The result was an astounding improvement. And a year later it still looks great. I have a two level deck. I removed a spa from the ...
by plannerman
Mon Aug 18, 2014 9:13 am
 
Forum: Personal Consumer Issues
Topic: Deck - Best Method of Treatment
Replies: 15
Views: 1113

Re: change from trustee/successor trustee to CO-trustees

I have been through this twice in the last few months. The first case involved a testamentary trust. The trustee wanted to resign and there were no provisions in the trust for a successor trustee. An estate planning attorney suggested that the trust be amended. He prepared an amendment that added pr...
by plannerman
Mon Aug 18, 2014 8:52 am
 
Forum: Personal Finance (Not Investing)
Topic: change from trustee/successor trustee to CO-trustees
Replies: 9
Views: 934

Re: How important is my insurance agent?

I have never had an insurance agent and don't know why I would want one. If I need insurance, I pick up the phone or go online and get it. To me, it's like having a broker manage my investments--I don't need that.

plannerman
by plannerman
Mon Aug 11, 2014 7:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: How important is my insurance agent?
Replies: 37
Views: 2329

Re: Telephone Calls! Help!

FYI--nomorerobo does not work on an AT&T land line or on Verizon wireless. That leaves us out.

plannerman
by plannerman
Fri Aug 08, 2014 10:34 am
 
Forum: Personal Consumer Issues
Topic: Telephone Calls! Help! [Stopping telemarketing calls]
Replies: 107
Views: 8875

Re: your eye doctor; your eyes....

I see a retinal specialist (ophthalmologist) on a regular basis. While he has one of his technicians refract my eyes, he will not write a prescription for correction. To get a correction prescription, I have to go to an optometrist and get refracted again. The optometrist’s refraction is more comple...
by plannerman
Fri Aug 08, 2014 7:59 am
 
Forum: Personal Consumer Issues
Topic: your eye doctor; your eyes....
Replies: 41
Views: 3439

Re: Visiting Japan

by plannerman
Sat Jul 19, 2014 12:02 pm
 
Forum: Personal Consumer Issues
Topic: Visiting Japan
Replies: 16
Views: 1424

Re: It is time to retire when you .......

In my case...

When I was having chest pains from the job stress, I had made my number and mega corp made me an offer I couldn't refuse.

Retirement has been the best period of my life.

plannerman
by plannerman
Thu Jul 17, 2014 4:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: It is time to retire when you .......
Replies: 104
Views: 10309

Re: Any Experts on Corporate Law? (Was "LPs")

Not all partnerships have general partners and limited partners. Are you asking about acive and passive participation?

I'm confused.

plannerman
by plannerman
Thu Jul 17, 2014 4:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any Experts on Corporate Law? (Was "LPs")
Replies: 10
Views: 1054

Re: How much do you spend on your hobby annually?

Golf including Country Club dues, lessons, equipment, guest fees, tournament fees, etc.--about $10k/yr
Shotgun sports including gun club dues, targets, ammo, guns, etc.--about $6k/yr
Beekeeping--net about $500/yr

plannerman
by plannerman
Sun Jul 13, 2014 11:49 am
 
Forum: Personal Consumer Issues
Topic: How much do you spend on your hobby annually?
Replies: 77
Views: 7613

Re: In retirement you expect your standard of living to?

Before I retired, I expected and planned for our standard of living to be about the same. 15 years into retirement, it is much higher--gated retirement community, country club, expensive hobbies, grand kid's tuition help, nicer cars, etc. I have even stopped changing my own oil. Retirement life is g...
by plannerman
Fri Jul 04, 2014 8:53 am
 
Forum: Personal Finance (Not Investing)
Topic: In retirement you expect your standard of living to?
Replies: 55
Views: 4779

Re: accountant fees

The first thing i would do is explore an online payroll provider like Surepayroll. In my experience, they will be much cheaper than paying an accountant to run your payroll.

plannerman
by plannerman
Fri Jul 04, 2014 7:25 am
 
Forum: Personal Finance (Not Investing)
Topic: accountant fees
Replies: 5
Views: 735
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