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Re: using MS Excel for tracking personal finances ?

There are so many corporate "legacy apps" using Excel and Word and VBA that I think they'll be around for a long time. You may want to eventually upgrade the software to newer versions and perhaps tweak your code a bit though.
by pshonore
Thu Apr 16, 2015 2:11 pm
 
Forum: Personal Consumer Issues
Topic: using MS Excel for tracking personal finances ?
Replies: 5
Views: 1217

Re: Vehicle for tall people/Spouse wants 50k car help!

Side note, Subaru Outbacks have a huge amount of headroom and good backseat legroom, but I've not been in a Forrester. I'd agree with two additional comments. Getting in out of an Outback can be a real chore if you're over 6 ft and I find the seats to be on the small side. Why do those darned conso...
by pshonore
Wed Apr 15, 2015 9:23 am
 
Forum: Personal Consumer Issues
Topic: Vehicle for tall people/Spouse wants 50k car help!
Replies: 74
Views: 5058

Re: Tax Preparer Guarantees

POMG is Peace of Mind Guarantee - a Block product. They normally cover any penalties and interest resulting from their mistake. For an extra $40-$50, they will cover any additional tax up to $5500. If you do collect on it, you'll get a 1099 for that amount.
by pshonore
Tue Apr 14, 2015 3:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Preparer Guarantees
Replies: 11
Views: 1097

Re: Tax Preparer Guarantees

Here's what the IRS says: To be deductible, your expenses must be for education that (1) maintains or improves your job skills or (2) that your employer or a law requires to keep your salary, status or job. However, even if the education meets either of these tests, the education cannot be part of a...
by pshonore
Tue Apr 14, 2015 2:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Preparer Guarantees
Replies: 11
Views: 1097

Re: MFs needs better way of reporting performance/returns

For example, here it is for the five years ending 12/31/2014 based on the cumulative, yearly, and quarterly historical returns from the performance tab for Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX): Thanks Cruncher. Still cumulative performance based on investing Jan 1st of ever...
by pshonore
Tue Apr 14, 2015 12:38 pm
 
Forum: Investing - Help with Personal Investments
Topic: MFs needs better way of reporting performance/returns
Replies: 22
Views: 1208

Re: Help in this tragic time(unexpected windfall)

Collecting Disability and survivors benefits at the same time is confusing but it appears you cannot collect both benefits in full: According to http://www.pbs.org/newshour/making-sense/can-you-take-more-than-one-soc/ Denise — Palm Bay, Fla.: I am receiving Social Security disability for myself, but...
by pshonore
Tue Apr 14, 2015 11:19 am
 
Forum: Investing - Help with Personal Investments
Topic: Help in this tragic time(unexpected windfall)
Replies: 20
Views: 2013

Re: Help with Landlord Insurance for NC investment property

DP2 appears to cover named perils only; DP3 is all risk except for perils excluded (generally much broader coverage) Now let’s take a look at the DP-2 form in NC. We can start with all of the perils insured against in the DP-1 form and then add the following additional perils: Damage Caused by Burgl...
by pshonore
Tue Apr 14, 2015 8:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with Landlord Insurance for NC investment property
Replies: 2
Views: 269

Re: Record keeping with Excel

While on this subject, whats the best way of pulling current prices for stocks, mfs, etfs, etc into a spreadsheet? The Microsoft "method" hasn't worked in months. I'm currently using the PSQ function in Excel but that only pulls last price and doesn't always work.
by pshonore
Mon Apr 13, 2015 11:26 am
 
Forum: Investing - Theory, News & General
Topic: Record keeping with Excel
Replies: 19
Views: 1545

Re: Need help with Form 1041 Schedule K-1

You may want o go into Form view in TT and look at the K1 as input to make sure you did it right.

If the estate is passing through a long term loss carryover, that could certainly account for a decrease in taxes but without seeing your entire return, that's just a guess.
by pshonore
Mon Apr 13, 2015 10:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Need help with Form 1041 Schedule K-1
Replies: 6
Views: 525

Re: Need help with Form 1041 Schedule K-1

I used TurboTax Pro to prepare my takes and already filed my return, so I will have to file a revised one. I opened up TurboTax to try and figure out what to do but it says you need TurboTax Business to complete Form 1041. That is correct but you are not completing Form 1041, you are entering a K1 ...
by pshonore
Sun Apr 12, 2015 7:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help with Form 1041 Schedule K-1
Replies: 6
Views: 525

Re: Incorrect W2 and electronic tax filing

Although some software allows this (TT prompted me for one on a recharacterization), I remain doubtful the IRS will ever read it.
by pshonore
Sun Apr 12, 2015 12:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Incorrect W2 and electronic tax filing
Replies: 5
Views: 466

Re: Would you use your neighbor's son for yard service?

I remember "hiring" myself out to cut a neighbor's lawn when I was about 7 yrs old. I had a push mower, the old reel kind with big cast iron wheels. The lawn was not big but I couldn't finish it and my father had to step in and finish. Valuable lessons were learned by all the parties conce...
by pshonore
Fri Apr 10, 2015 4:44 pm
 
Forum: Personal Consumer Issues
Topic: Would you use your neighbor's son for yard service?
Replies: 33
Views: 2142

Re: Can anyone recommend a good low cost generator?

Running your furnace requires more than just a small portable generator that many have suggested. It needs to have the proper electrical transfer switch installed, otherwise there is a possible danger of shocking utility workers . Furnaces generally are hard wired, so it is not just a manner of plu...
by pshonore
Fri Apr 10, 2015 1:23 pm
 
Forum: Personal Consumer Issues
Topic: Can anyone recommend a good low cost generator?
Replies: 35
Views: 2005

Re: Can anyone recommend a good low cost generator?

Biggest problem for me is when the power goes out, so do the gas pumps. These generators can go through gas quickly and I'm don't like the idea of storing a lot of gas around the house waiting for the next outage. So, even though I'd like to get one, it's not very practical unless you can find a ga...
by pshonore
Fri Apr 10, 2015 12:57 pm
 
Forum: Personal Consumer Issues
Topic: Can anyone recommend a good low cost generator?
Replies: 35
Views: 2005

Re: Placing brokerage account into a living trust

And just a reminder that depending on where you live, the may be no probate saving from an RLT. For example in Connecticut. all estates are subject to the same probate fees whether you have a conventional will or a revocable living trust. The Probate Court does not get involved in asset distribution...
by pshonore
Fri Apr 10, 2015 11:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Placing brokerage account into a living trust
Replies: 14
Views: 1168

Re: Cheapest way to get Credit Card cash advance.

Oh, I know the cash advance rates are higher. But what I like about "Jack FFR1846"'s method is that it gets around that problem by coding the cash transfer to my checking account as a purchase. Actually, if I can get a 0% Intro APR Credit Card, I could even earn interest on money pulled f...
by pshonore
Thu Apr 09, 2015 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Cheapest way to get Credit Card cash advance.
Replies: 24
Views: 1803

Re: Becoming a real estate agent to save commissions $

You might save 25% of the total commission but it would be taxable income to you.
by pshonore
Wed Apr 08, 2015 5:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Becoming a real estate agent to save commissions $
Replies: 12
Views: 1350

Re: 3 Vanguard ETFs & market glitch

Along the same line: viewtopic.php?f=10&t=162572. VO paid the price the next day.
by pshonore
Wed Apr 08, 2015 5:31 pm
 
Forum: Investing - Theory, News & General
Topic: 3 Vanguard ETFs & market glitch
Replies: 3
Views: 611

Re: Cheapest way to get Credit Card cash advance.

I get blank "checks" a couple of times a month from various credit card accounts inviting me to take a cash advance. Sometimes there's no fee and sometimes 0% interest for 12 months but rarely both. I always rip them up but its easy to write a check, deposit in your bank and withdraw the c...
by pshonore
Wed Apr 08, 2015 12:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cheapest way to get Credit Card cash advance.
Replies: 24
Views: 1803

Re: Does your CPA/Tax Person help with reducing your taxes?

You could ask your CPA how much he would charge to go over your financial affairs to see if he could find a way to lower your tax burden. Unless they are specifically being hired to find ways to reduce your tax liability they are most likely not going to provide the service. I would also make sure ...
by pshonore
Wed Apr 08, 2015 12:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does your CPA/Tax Person help with reducing your taxes?
Replies: 66
Views: 5698

Re: trading cars with parents

The correct way to do this (assuming you don't re-register the cars) is to add all drivers to all policies (probably not an ideal situation). I think in most states the only way to "update" the titles is to re-register the vehicles.
by pshonore
Wed Apr 08, 2015 10:42 am
 
Forum: Personal Consumer Issues
Topic: trading cars with parents
Replies: 13
Views: 1331

Re: Advantages? - Child's own Form 1040 v. filing Form 8615

One of the rules for being able to report the income on the parents return is: 3.The child had income only from interest and dividends, which includes Alaska Permanent Fund dividends and capital gain distributions I don't believe inherited IRA RMDs are considered to be any of those, so assuming he m...
by pshonore
Tue Apr 07, 2015 12:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advantages? - Child's own Form 1040 v. filing Form 8814
Replies: 3
Views: 240

Re: Charity-RMD or appreciated stock

Waiting until December is very frustrating, but hopefully they will get around to the QCD again this year. Agreed: don't QCDs have to be withdrawn first to count toward an RMD? If so that means no RMDs and for that matter, Roth conversions as well, can be done until Congress does something about QC...
by pshonore
Tue Apr 07, 2015 8:01 am
 
Forum: Investing - Theory, News & General
Topic: Charity-RMD or appreciated stock
Replies: 7
Views: 503

Re: IRS Identity Theft Tax Fraud

Not really since HRB would NEVER mail a check and also would not do a RAC for an office prepared return without positive ID. AFAIK no tax software package (HRB, Turbo Tax, Tax Act) issues refund checks when you prepare the return yourself. There are lots of regulations about where refunds can go an...
by pshonore
Mon Apr 06, 2015 6:47 pm
 
Forum: Personal Consumer Issues
Topic: IRS Identity Theft Tax Fraud
Replies: 47
Views: 4073

Re: Estate Sale

In most states, an employer is required to buy Workers Comp/Employers Liability to provide coverage for accidents to his employees. Failure to do so can result in financial penalties and even financial ruin if an employee has a catastrophic accident. And in most states it makes no difference if they...
by pshonore
Mon Apr 06, 2015 5:28 pm
 
Forum: Personal Consumer Issues
Topic: Estate Sale
Replies: 3
Views: 723

Re: Turbotax - single member LLC but never asked for LLC nam

Are you reporting business income? Schedule C certainly has a place for business name (which is optional). You can always go into "Form view" and enter it.
by pshonore
Mon Apr 06, 2015 11:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Turbotax - single member LLC but never asked for LLC name...
Replies: 7
Views: 780

Re: IRS Identity Theft Tax Fraud

HRB has not "fronted" refund money (RAL) for the last couple of years. After processing, the IRS gives Block the refund, they subtract their fees, and either deposit the balance in your bank account, load it on your HRB debit card or print a check which must be picked up at their office. ...
by pshonore
Mon Apr 06, 2015 11:07 am
 
Forum: Personal Consumer Issues
Topic: IRS Identity Theft Tax Fraud
Replies: 47
Views: 4073

Re: siding advice

My choice would be Hardie plank or cedar clapboards (if you like to paint) but I live in the New England where those are common (as is Vinyl). I'm not sure what stucco boards are so can't help with that . If I were staying in the house I'd replace the wood trim with something like AZEK. Quite pricy ...
by pshonore
Mon Apr 06, 2015 10:58 am
 
Forum: Personal Consumer Issues
Topic: siding advice
Replies: 2
Views: 280

Re: Best way to lower tax refund?

No Savers Credit for students but the Roth contribution is probably a good idea.
by pshonore
Mon Apr 06, 2015 7:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Best way to lower tax refund?
Replies: 7
Views: 1283

Re: IRS Identity Theft Tax Fraud

HRB has not "fronted" refund money (RAL) for the last couple of years. After processing, the IRS gives Block the refund, they subtract their fees, and either deposit the balance in your bank account, load it on your HRB debit card or print a check which must be picked up at their office.
by pshonore
Mon Apr 06, 2015 7:50 am
 
Forum: Personal Consumer Issues
Topic: IRS Identity Theft Tax Fraud
Replies: 47
Views: 4073

Re: IRS Identity Theft Tax Fraud

I also just learned my taxes were rejected because they'd already been filed. I went on the IRS website last night and learned the thief filed taxes with income $1 greater than last year and using a short form claimed higher deductions and higher tax payments than I filed last year. Where the refun...
by pshonore
Sun Apr 05, 2015 1:43 pm
 
Forum: Personal Consumer Issues
Topic: IRS Identity Theft Tax Fraud
Replies: 47
Views: 4073

Re: Adventures in Self-Employment SEP-IRA vs Self-Employed 4

Let me explain the SEP rules a little more. Let's say you have $100,000 in revenue from self employment after deducting business expenses. You then exclude half of the self-employment tax (this is equivalent to the employer's contribution if you were working for someone else, and doesn't count towa...
by pshonore
Sat Apr 04, 2015 6:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Adventures in Self-Employment SEP-IRA vs Self-Employed 401k
Replies: 16
Views: 777

Re: Retirement Statement Wording Question

Hard to say without seeing plan details but my guess is $200 at age 65 is correct but think the $100 at 58 would probably be reduced for early retirement. Are there any early retirement factors listed on the benefit statement?
by pshonore
Sat Apr 04, 2015 7:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Retirement Statement Wording Question
Replies: 6
Views: 503

HELOC woes

I have an HELOC with a small balance (less than 20K). Unbeknownst to me this bank rewrites the loan every 5 years and if you're still a good credit risk, the loan is renewed and you can continue to draw on it, etc. Otherwise it goes to repayment status and you have 15 years to pay it off with no mor...
by pshonore
Fri Apr 03, 2015 1:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: HELOC woes
Replies: 6
Views: 1070

Re: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge

Thanks everyone for the advice. I requested an in force illustration, but will have to wait up to two weeks for the company to email it to me. My dad was fairly meticulous with the record keeping, and I think I recall seeing the original illustrations at one point, printed out from a dot matrix pri...
by pshonore
Fri Apr 03, 2015 11:55 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge
Replies: 16
Views: 1348

Re: Gearing up for big replacement windows project

Did Pella give you a quote? Because I also have a 1920s-era house with many many windows, and Pella's quote to replace my windows in just two rooms was around $15,000. That was only for about 7 windows. My situation was somewhat complicated by the fact that my house is in an historic district and a...
by pshonore
Fri Apr 03, 2015 11:27 am
 
Forum: Personal Consumer Issues
Topic: Gearing up for big replacement windows project
Replies: 35
Views: 2561

Re: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge

I generally do my own illustrations. You have to estimate COI but that's not too difficult as long as you have history and can live with the estimate (no pun intended :happy ).
by pshonore
Fri Apr 03, 2015 10:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge
Replies: 16
Views: 1348

Re: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge

The in force illustration will have all that and the projected values in years to come both guaranteed and illustrated. It contains much more information than the yearly statement. Frankly all statements i have seen say on the bottom you should consider requesting the in force illustration. In forc...
by pshonore
Fri Apr 03, 2015 10:02 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge
Replies: 16
Views: 1348

Re: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge

Almost all insurance companies send an annual statement for UL policies which basically shows beginning cash balance, premiums paid, interest or earnings credited, cost of insurance and ending cash balance. If Dad saved any of those statements, they would certainly answer some of your questions. If ...
by pshonore
Fri Apr 03, 2015 9:26 am
 
Forum: Investing - Help with Personal Investments
Topic: Advice for a 17 Year Old VUL Nearing 0 Surrender Charge
Replies: 16
Views: 1348

Re: MLP holdings in Roth IRA

The reference to the NAPTP site is a good place to start. UBTI is a very complicated subject; most MLPs generate negative operating earnings which means negative UBTI. There are exceptions though. And there's also a school of thought that believes UBTI is generated on a sale due to depreciation reca...
by pshonore
Fri Apr 03, 2015 9:02 am
 
Forum: Investing - Help with Personal Investments
Topic: MLP holdings in Roth IRA
Replies: 4
Views: 426

Re: Tax Question

How hard is it to amend taxes on your own? Even if it dropped me into the 25% bracket it would still be $1500 federal and like $150 state is that correct? So in essence we would get $1650 back just for amending our taxes? Its not hard but the 1040X form can be confusing if you've never worked with ...
by pshonore
Fri Apr 03, 2015 8:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax Question
Replies: 5
Views: 512

Re: How does home office tax deduction work?

We are in your situation, although we use 33% as our business space. You deduct 30% on your Business Use of the Home (don't forget 30% of utilities, security costs, cleaning and gardening expenses etc.). You then deduct the remainder 70% on Schedule A. I'm sure you're referring to mtg interest and ...
by pshonore
Fri Apr 03, 2015 7:13 am
 
Forum: Personal Finance (Not Investing)
Topic: How does home office tax deduction work?
Replies: 14
Views: 1275

Re: How does home office tax deduction work?

We are in your situation, although we use 33% as our business space. You deduct 30% on your Business Use of the Home (don't forget 30% of utilities, security costs, cleaning and gardening expenses etc.). You then deduct the remainder 70% on Schedule A. I'm sure you're referring to mtg interest and ...
by pshonore
Thu Apr 02, 2015 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: How does home office tax deduction work?
Replies: 14
Views: 1275

Re: Quarterly taxes; do I need to do April?

There's only one problem - Uncle Sam will assume your income was earned equally throughout the year. If most of it is earned later in the year, and your quarterly payments reflect that, you'll still have to file Form 2210 to justify why your earlier payments were not larger assuming you don't hit sa...
by pshonore
Thu Apr 02, 2015 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Quarterly taxes; do I need to do April?
Replies: 17
Views: 1191

Re: Which brokers do hassle-free Roth cnvrsn recharacterizat

No problem at Fido but I do believe you have to mail in the form. And the 1099R you receive for the recharacterization is not as straightforward as one might think.
by pshonore
Thu Apr 02, 2015 4:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which brokers do hassle-free Roth cnvrsn recharacterizations
Replies: 22
Views: 1464

Re: Quarterly taxes; do I need to do April?

If I were you I would take the advice of JDDS and read up on "safe harbor", assuming your income will be roughly equal to or greater than last year. That's a relatively simple approach, requiring four equal installments. Well, my income from last year and my income from this year are EXTR...
by pshonore
Thu Apr 02, 2015 3:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Quarterly taxes; do I need to do April?
Replies: 17
Views: 1191

Re: SEP Mistake

See if your custodian can allocate the $329 to a 2015 contribution for you (assuming you will be eligible to contribute at least that much in 2015) And then send in an extra $329 for your wife for 2014.
by pshonore
Thu Apr 02, 2015 2:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP Mistake
Replies: 1
Views: 173

Re: Quarterly taxes; do I need to do April?

If I were you I would take the advice of JDDS and read up on "safe harbor", assuming your income will be roughly equal to or greater than last year. That's a relatively simple approach, requiring four equal installments.
by pshonore
Thu Apr 02, 2015 2:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Quarterly taxes; do I need to do April?
Replies: 17
Views: 1191

Re: IRS makes Tax Error - Wrong Invoice - How to Fix?

Don't forget the Medicare Tax and the Net Investmt Income tax which show up on Line 61M and 61N respectively. (although the difference seems too large for that)
by pshonore
Thu Apr 02, 2015 10:01 am
 
Forum: Personal Finance (Not Investing)
Topic: IRS makes Tax Error - Wrong Invoice - How to Fix?
Replies: 15
Views: 1426

Re: Vanguard Mid-Cap ETF (VO) sudden dive

Strange quotes on VB and VBK as well. Fido shows their change as -.49% and +1.27% VG shows -.21% and -.40%
by pshonore
Wed Apr 01, 2015 9:22 pm
 
Forum: Investing - Theory, News & General
Topic: Vanguard Mid-Cap ETF (VO) sudden dive
Replies: 13
Views: 1360
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