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Re: "FREE" H&R Block Tax Software. Catch?

Scratching my head over a DVD I just got in the mail. The jacket blares the following, pretty much verbatim: GET EVERYTHING PAY NOTHING FREE Deluxe and State (44.95 value) FREE State E-File (19.95 value) FREE Audit Support (35.00 value) FULL 2013 Tax Software A 99.99 Value FREE Same Software as sol...
by pshonore
Sat Dec 20, 2014 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: "FREE" H&R Block Tax Software. Catch?
Replies: 23
Views: 4198

Re: questions about my Roth IRA & the IRS

Not interested in the balance; just if it went up by the amount of the conversions
by pshonore
Sat Dec 20, 2014 3:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: questions about my Roth IRA & the IRS
Replies: 8
Views: 494

Re: questions about my Roth IRA & the IRS

What's your Roth IRA balance today compared to 1/1/14? If you've been doing conversions, it should have increased by roughly the amount of the conversions + any growth.
by pshonore
Sat Dec 20, 2014 2:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: questions about my Roth IRA & the IRS
Replies: 8
Views: 494

Re: Don't be tempted to buy your teen a cheap (old) car, par

That's great if you stay in the car. Unfortunately there seems to still be a lot of "ejections" in the accidents around here, particularly with young adults. I can't believe that people still fail to use seat belts. Even a seat beat will not prevent all fatalities but it sure improves your...
by pshonore
Sat Dec 20, 2014 12:33 pm
 
Forum: Personal Consumer Issues
Topic: Don't be tempted to buy your teen a cheap (old) car, parents
Replies: 52
Views: 3172

Re: Stolen car recovered, need a plan

I would donate the car, and bunch up deduction this year. (prop tax and charitable deductions) Is using Kelley Blue Book or NADA value for such a car acceptable to the IRS for Fair market value on a stolen car? If you're talking about charitable donations, the charity is usually required to give yo...
by pshonore
Sat Dec 20, 2014 12:04 pm
 
Forum: Personal Consumer Issues
Topic: Stolen car recovered, need a plan
Replies: 21
Views: 1906

Re: S-Corp or LLC - Software Consulting Part Time

So you're a Sole Prop filing with Sched C?
by pshonore
Sat Dec 20, 2014 11:48 am
 
Forum: Personal Finance (Not Investing)
Topic: S-Corp or LLC - Software Consulting Part Time
Replies: 9
Views: 1031

Re: S-Corp or LLC - Software Consulting Part Time

Again, LLCs are disregarded entities for Federal taxes. You can elect to be taxed as a Sole proprietor, an S-Corp, a C-Corp or as a Partnership.
by pshonore
Sat Dec 20, 2014 11:33 am
 
Forum: Personal Finance (Not Investing)
Topic: S-Corp or LLC - Software Consulting Part Time
Replies: 9
Views: 1031

Re: Theoretical maximum tax deduction

If you made enough "profit" to put $106K into two Self-401Ks, can you still do deductible T-IRAs? Think it starts phasing out at 96K and is gone at 116K (both parties covered by a retirement plan at work)
by pshonore
Sat Dec 20, 2014 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Theoretical maximum tax deduction
Replies: 3
Views: 427

Re: Charitable Contribution from IRA

Note this from Fido's website for2013 QCDs How to do I request a QCD from my Fidelity IRA? If you qualify, you have two choices for requesting a QCD from your Fidelity IRA. 1.Use the Withdrawals—IRA One-Time form (PDF) to request a QCD from your account. In section 4, please select the first checkbo...
by pshonore
Fri Dec 19, 2014 3:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Charitable Contribution from IRA
Replies: 39
Views: 1360

Re: Disappointed with sale items

Orvis has good quality stuff with frequent online sales. I almost certain it is the exact same merchandise carried in their retail stores and the very few clearance stores they run. Probably not a place to buy a suit though and dress shirts are limited.
by pshonore
Fri Dec 19, 2014 2:59 pm
 
Forum: Personal Consumer Issues
Topic: Disappointed with sale items
Replies: 20
Views: 1953

Re: Charitable Contribution from IRA

Don't forget you can also use QCDs to satisfy your RMD per this thread:
http://www.bogleheads.org/forum/viewtop ... &p=1856188

(Kind of late but still doable)
by pshonore
Fri Dec 19, 2014 10:25 am
 
Forum: Personal Finance (Not Investing)
Topic: Charitable Contribution from IRA
Replies: 39
Views: 1360

Re: Stolen car recovered, need a plan

Note that casualty losses must exceed 10% of your AGI in order to take a deduction Individuals are required to claim their casualty and theft losses as an itemized deduction on Form 1040, Schedule A (PDF) (or Form 1040NR, Schedule A (PDF), if you are a nonresident alien). For property held by you fo...
by pshonore
Fri Dec 19, 2014 8:56 am
 
Forum: Personal Consumer Issues
Topic: Stolen car recovered, need a plan
Replies: 21
Views: 1906

Re: S-Corp or LLC - Software Consulting Part Time

LLC is a disregarded entity for Federal tax purposes. If you form one, you will taxed as a sole proprietor or S-Corp (or more rarely as a C-Corp) Sole prop is the simplest and cheapest (it all goes on Sched C). Equal deductibility for most expenses. S-Corp may allow you to shield some profit from FI...
by pshonore
Thu Dec 18, 2014 2:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: S-Corp or LLC - Software Consulting Part Time
Replies: 9
Views: 1031

Re: Planning next year Roth conversion (child tax credit)

Epsilon Delta wrote:I believe EITC is also in play in your situation. One child MFJ, the AGI limit is ~$44k. Sorry can't help with the details.

Probably not; Investment income limit is $3300 for EITC - he has 4K in dividends.
by pshonore
Wed Dec 17, 2014 9:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Planning next year Roth conversion (child tax credit)
Replies: 10
Views: 700

Re: Long term care insurance?

The problem is that 5 years is the most coverage one can buy today with a new policy. So if >5 years is 10 years, LTCi won't help you. Well, it will cover 5 years worth. For some, that is indeed "help". I agree; and if you bought a "Partnership policy" (sold in most states), it ...
by pshonore
Tue Dec 16, 2014 4:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance?
Replies: 23
Views: 1867

Re: No wash sale when you sell all shares?

When you incur a wash sale, any disallowed portion of the loss increases the basis of the "replacement" shares. As long as you dispose of all shares including the replacement shares before year end, the wash sale should cancel out
by pshonore
Mon Dec 15, 2014 1:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: No wash sale when you sell all shares?
Replies: 8
Views: 543

Re: Spousal social security benefit

In order for wife to collect spousal benefit, the husband must be collecting OR he did a file and suspend
by pshonore
Sun Dec 14, 2014 2:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spousal social security benefit
Replies: 2
Views: 434

Re: Outdoor HDTV Antenna and DVR Setup

Does Tivo still require a monthly "subscription"?
by pshonore
Mon Dec 08, 2014 9:43 am
 
Forum: Personal Consumer Issues
Topic: Outdoor HDTV Antenna and DVR Setup
Replies: 40
Views: 3297

Re: How long do grilles last?

Just "retired" my Weber Genesis after 20 years. All the parts are replaceable (flavor bars, grilles, etc) but the frame was starting to disintegrate after 20 years in New England weather. Also the lid appeared to peeling paint on the inside but as I understand it, that is smoke that adhere...
by pshonore
Mon Dec 08, 2014 9:09 am
 
Forum: Personal Consumer Issues
Topic: How long do grilles last?
Replies: 26
Views: 2465

Re: MLP ETFs

I bought Enterprise Product Partners (EPD) on 3/1/06. Since then the average annual return through today (using the XIRR function) has been 20.2% Only wish some of my other MLPs had done as well.
by pshonore
Fri Dec 05, 2014 4:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: MLP ETFs
Replies: 14
Views: 1245

Re: shedding cap gains liability

Just a reminder that it is taxable income that counts. A married couple will usually have a little over 20K in standard deduction and personal exemption so if your total income (AGI) was $93K, then your taxable income would be roughly $73K and any LTCG that falls in the bucket below $73K will be tax...
by pshonore
Fri Dec 05, 2014 12:35 pm
 
Forum: Investing - Help with Personal Investments
Topic: shedding cap gains liability
Replies: 7
Views: 491

Re: Capital Gains, But for Which State?

Suppose you sold rental property in Maryland; do you think you would owe cap gains tax to Maryland?
by pshonore
Thu Dec 04, 2014 2:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Capital Gains, But for Which State?
Replies: 5
Views: 646

Re: database software for personal checking account?

If you can do VBA in Excel, you'll certainly have no problem using VBA in MS Access. (Objects are different of course but methods, properties, etc are almost identical. Keep all accounts in the DB and export data to Excel for quick viewing, etc. or build a S/S on the fly using VBA or design custom r...
by pshonore
Thu Dec 04, 2014 12:11 pm
 
Forum: Personal Consumer Issues
Topic: database software for personal checking account?
Replies: 4
Views: 404

Re: myRA Beta Web Page is up and running

If you are interested in myRA account, I assume that you dont have retirement plan at work. Is that right? I thought myRA is for those low income workers that dont have retirement plan options at work. Also, there is not going to be any employer plan. It is an individual retirement plan That may be...
by pshonore
Thu Dec 04, 2014 11:32 am
 
Forum: Investing - Theory, News & General
Topic: myRA Beta Web Page is up and running
Replies: 11
Views: 793

Re: Receiving Inheritance Distribution, Move to Avoid Tax?

The penalty for a missed distribution is 50% of the distribution, but the IRS will usually waive that if you have a good reason and ask them (via Form 5329) to do so.
by pshonore
Mon Dec 01, 2014 5:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Receiving Inheritance Distribution, Move to Avoid Tax?
Replies: 22
Views: 2084

Re: MLP ETFs

I think you're going to have to read some of the documents on the Alerian website link in my post. They definately report on 1099 and its possible that some of it is regarded as ROC,meaning its not taxed when received, but lowers your basis and become Cap Gain/loss
by pshonore
Mon Dec 01, 2014 5:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: MLP ETFs
Replies: 14
Views: 1245

Re: MLP ETFs

That really represents a deferred tax liability - AMLP is taxed as a corporation (not a RIC like typical mutual funds) from http://www.alerianetfs.com/amlp/amlp-disclosure.php The Fund is taxed as a regular corporation for federal income tax purposes. This differs from most investment companies, whi...
by pshonore
Mon Dec 01, 2014 5:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: MLP ETFs
Replies: 14
Views: 1245

Re: Can I get tax credits for my brother college fees?

Here's the criteria for the AOC (American Opportunities Credit: (From Pub 970) Who Can Claim the Credit Generally, you can claim the American opportunity credit if all three of the following requirements are met. · You pay qualified education expenses of higher education. · You pay the education exp...
by pshonore
Fri Nov 28, 2014 7:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I get tax credits for my brother college fees?
Replies: 13
Views: 1456

Re: Do it yourself tax solutions? Should I just try turbotax

Agree that turbotax is fine for most non-complex tax situation, with one note of caution - In addition to doing your turbotax return and letting turbotax search for deductions, spend some time reading IRS literature about rules, deductions, credits etc. which may pertain to your situation. I know, ...
by pshonore
Thu Nov 27, 2014 8:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do it yourself tax solutions? Should I just try turbotax?
Replies: 53
Views: 3996

Re: Engineered Hardwood Floors

What is the subfloor? If you replace carpet with hardwood, you need to rip up the underlayment underneath. (OSB or plywood is OK). Underlayment does not hold nails/staples well. Also go out and read the customer reviews at Lumber Liquidators. After reading them myself, I went with Bruce/Armstrong (I...
by pshonore
Thu Nov 27, 2014 9:48 am
 
Forum: Personal Consumer Issues
Topic: Engineered Hardwood Floors
Replies: 14
Views: 2398

Re: HSA - must contributions be through employer?

Generally you can contribute directly, but that money will be subject to FICA unlike when employer withholds your contribution. Also, as long as you are eligible on 12/1, you can usually make an entire years contribution in that year. If you do, and do not stay eligible for the entire next year, the...
by pshonore
Wed Nov 26, 2014 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: HSA - must contributions be through employer?
Replies: 9
Views: 1221

Re: Definition of "have a retirement plan at work"

I recall after I retired, an exercise of NQ stock options would produce a W2 with the "profit" shown as wages in Box 1 with the required withholding, and the Retmt Plan box NOT checked. Also seem to recall the HR folks saying if that caused a problem with SSA because a person was collectin...
by pshonore
Tue Nov 25, 2014 1:52 pm
 
Forum: Investing - Help with Personal Investments
Topic: Definition of "have a retirement plan at work"
Replies: 12
Views: 1324

Re: Dog food - how cheap is too cheap?

I've had good luck with Costco no-grain dog food (about $1/lb for either Salmon or Beef based). I've fed Eukanuba for years as it was always on sale for about 60 cents/lb + a free bag for every six bought (from their breeder program. Those days are long gone though and its now around $1.30/lb
by pshonore
Tue Nov 25, 2014 11:51 am
 
Forum: Personal Consumer Issues
Topic: Dog food - how cheap is too cheap?
Replies: 64
Views: 5857

Re: Turbo Tax - Returns for different people & different sta

I could be mistaken but I though you had to list individual sales unless you attach a Broker Statement with summaries (via a separate mail in for e-filed returns with IRS transmittal Form 8453, also used with POA, Release of Exemption, etc)
by pshonore
Tue Nov 25, 2014 11:45 am
 
Forum: Personal Consumer Issues
Topic: Turbo Tax - Returns for different people & different states
Replies: 6
Views: 670

Re: Homeowner's Insurance

In the case of joists, modern materials are probably better. (Oak was very seldom used for frames, etc because it is way too heavy and not terribly easy to work with hand tools). Rather a lot of Chestnut, pine, hemlock, etc was used. I'd go with modern lumber and LVLs as necessary
by pshonore
Tue Nov 25, 2014 10:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Homeowner's Insurance
Replies: 10
Views: 771

Re: Homeowner's Insurance

Many (most?) policies simply cover replacement value of the home (structure) and then separate contents coverage for lost articles (your clothing and furniture, for example). In essence, what it would cost you to rebuild the home from scratch if it burns down. It's unlikely they would niggle over a...
by pshonore
Tue Nov 25, 2014 9:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Homeowner's Insurance
Replies: 10
Views: 771

Re: Create new account in case mom outlives assets--How to?

It seems some folks got caught up on the dependent part. Don't forget that's a technical tax term for getting an exemption on one's tax return. One can still pay for all the support of someone (it is not illegal to do so) who is not your dependent in the eyes of the IRS. How many folks have unemplo...
by pshonore
Tue Nov 25, 2014 9:20 am
 
Forum: Personal Finance (Not Investing)
Topic: Create new account in case mom outlives assets--How to?
Replies: 15
Views: 1377

Re: TurboTax '14 Deluxe (Desktop) Excludes Schedule D

Remember if you use Deluxe in Form mode, you cannot efile but have to mail in your return.
by pshonore
Sun Nov 23, 2014 1:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: TurboTax '14 Deluxe (Desktop) Excludes Schedule D
Replies: 140
Views: 16750

Re: File and Suspend timing mechanics for max benefit

I read somewhere that the least crowded day to go to an SSA office is the day after Thanksgiving. A relative just received her spousal benefit. She also received a check for the few months since she turned 66 her FRA. I think they will go back for up to the last 6 months. I plan on filing and suspe...
by pshonore
Sun Nov 23, 2014 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: File and Suspend timing mechanics for max benefit
Replies: 12
Views: 1236

Re: File and Suspend timing mechanics for max benefit

Sure, The husband can claim a Spousal benefit as long as he is FRA (otherwise he is deemed to be filing for his own benefit as well) and the wife is collecting her own benefit.
by pshonore
Sun Nov 23, 2014 12:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: File and Suspend timing mechanics for max benefit
Replies: 12
Views: 1236

Re: One person LLC, Solo 401k, 1 Employee - Question

You could pay the employee on a 1099 (rather than a W2) , assuming they meet the test for an independent contractor. The IRS does not really care about LLCs, but they do care about owners not extending the same retirement benefit to employees that the owner has.
by pshonore
Sun Nov 23, 2014 11:59 am
 
Forum: Investing - Help with Personal Investments
Topic: One person LLC, Solo 401k, 1 Employee - Question
Replies: 26
Views: 984

Re: One person LLC, Solo 401k, 1 Employee - Question

Is the one employee the same person as the LLC owner?
by pshonore
Sun Nov 23, 2014 9:37 am
 
Forum: Investing - Help with Personal Investments
Topic: One person LLC, Solo 401k, 1 Employee - Question
Replies: 26
Views: 984

Re: File and Suspend timing mechanics for max benefit

Do I even have to file and suspend at all for her to get the spousal benefits? I do understand that if I file and suspend that I can go back in a year or two if I have a financial emergency and retroactively get the back benefits from when I filed and suspended, but this is really something that do...
by pshonore
Sat Nov 22, 2014 5:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: File and Suspend timing mechanics for max benefit
Replies: 12
Views: 1236

Re: ACA subsidy and income calculation

Do any of you know the reason Healthcare.Gov isn't straight forward on how to calculate income for a subsidy. If I took them at face value I would think my only deduction is for an IRA. A self employed person unless I am wrong gets to deduct 50% of Social Security tax, SEP IRA @ 25%, Traditional IR...
by pshonore
Sat Nov 22, 2014 5:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy and income calculation
Replies: 5
Views: 662

Re: Standard questions on found stock certificate

ARCO merged with BP, Sunoco and Disney are still in business. Was your late husband still receiving dividends from those companies? As the ARCO shares were probably not tendered, that may not be the case. You may to check with whoever in your state of residence receives escheated (unclaimed) propert...
by pshonore
Fri Nov 21, 2014 11:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Standard questions on found stock certificate
Replies: 10
Views: 578

Re: Can Non-Tax Filers Contribute to IRA?

If she does a Roth, she should probably file a tax return documenting her income. Then it cannot be questioned at a future date. She can file a Form 1040EZ quite easily and almost certainly will owe no tax.
by pshonore
Thu Nov 20, 2014 8:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can Non-Tax Filers Contribute to IRA?
Replies: 12
Views: 1258

Re: ACA subsidy question

Remember that in addition to premium subsidies that are reconciled at tax time, there also can be cost-sharing subsidies that are not reconciled. (explained at http://www.healthinsurance.org/obamacare/the-acas-cost-sharing-subsidies) Its probably not a good idea to deliberately misstate your income ...
by pshonore
Thu Nov 20, 2014 10:51 am
 
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy question
Replies: 8
Views: 875

Re: Healthcare FSA - expecting, due in July

The last child birth bill we had cost $28,800 so I would suggest maxing out from the first of the year. How times have changed! My kids were born in the mid 70s. At that time, pregnancy was not treated the same as other illness for insurance purposes. And for that matter, pregnancy leave was not el...
by pshonore
Wed Nov 19, 2014 1:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Healthcare FSA - expecting, due in July
Replies: 17
Views: 1518
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