Search found 3567 matches

by pshonore
Tue Jul 28, 2015 8:51 am
Forum: Investing - Help with Personal Investments
Topic: Taxable income computation by Vanguard
Replies: 21
Views: 842

Re: Taxable income computation by Vanguard

I checked Form 8949 with which I was not familiar. Page-2 of the form (long term gains) asks to list all purchases of the fund with the corresponding costs. If I don't want to go through all purchases, is there a way to aggregate them and use the average cost? Form 8949 includes a note: Note. You m...
by pshonore
Tue Jul 28, 2015 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Can I reject a medical exam during insurance application without consequences?
Replies: 48
Views: 2561

Re: Can I reject a medical exam during insurance application without consequences?

Why not get a physical to check your health. Then based on the result of the physical, you apply for insurance. Because once you know something, you have to disclose it if they ask. Right now they will only learn about what they test for. Exactly. You do know that not disclosing a known medical con...
by pshonore
Tue Jul 28, 2015 8:21 am
Forum: Investing - Help with Personal Investments
Topic: Taxable income computation by Vanguard
Replies: 21
Views: 842

Re: Taxable income computation by Vanguard

Since these are non-covered shares, VG will only report the gross proceeds to the IRS. You're responsible for the rest (which VG will probably report to you).
by pshonore
Tue Jul 28, 2015 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Closing Costs with No Bank Loan
Replies: 7
Views: 974

Re: Closing Costs with No Bank Loan

...you'll have to prepay a year's hazard insurance (you usually pay that prior to closing). Thanks for the comments, especially for clarifying the hazard insurance cost. Certainly true if you have a mortgage. Not always true if you don't. Lots of insurance carriers allow periodic payments for a sli...
by pshonore
Mon Jul 27, 2015 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting For 2016 Medicare Part B Increase
Replies: 14
Views: 1444

Re: Budgeting For 2016 Medicare Part B Increase

Considering that we're now paying less than we were in 2010 and not much more than 2008, premiums are probably going to increase substantially one of these days. But no one knows the timetable for that.
by pshonore
Mon Jul 27, 2015 8:48 am
Forum: Personal Finance (Not Investing)
Topic: HSA Bank reporting income in 2013 that is not income, need help
Replies: 8
Views: 605

Re: HSA Bank reporting income in 2013 that is not income, need help

If you take a distribution, you have to let the IRS know that you had qualified medical expenses for that. Line 15 of form 8889 is where you do that. Otherwise the IRS assumes the withdrawal is taxable income to you.
by pshonore
Mon Jul 27, 2015 8:32 am
Forum: Personal Consumer Issues
Topic: Is your home owner insurance going up 27% this year?
Replies: 22
Views: 2795

Re: Is your home owner insurance going up 27% this year?

My renewal time was in May so it had nothing to do with recent flooding. Mine also went up about 25% and had been with them 10 years. I called and they said they couldn't do anything about it, it was a statewide adjustment. I was really mad because we have home/car/life ins with them and they would...
by pshonore
Sun Jul 26, 2015 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: How much does Property Tax factor in home purchase?
Replies: 36
Views: 2524

Re: How much does Property Tax factor in home purchase?

Property taxes are important because if you cannot afford to pay them, then your life will be miserable in the new house. And sometimes property taxes may seem to be "unfair". I know in my neighborhood, we pay about 10% to 20% less than comparable neighbors because we protest the tax auth...
by pshonore
Sun Jul 26, 2015 9:43 am
Forum: Personal Finance (Not Investing)
Topic: How much does Property Tax factor in home purchase?
Replies: 36
Views: 2524

Re: How much does Property Tax factor in home purchase?

At near $1000 per month I would say they absolutely matter. As far as budgeting, what possible reason would they not matter in deciding whether to purchase? That money has to come from the same place your mortgage does. I have family in the chicago area and I know they pay a lot for PT. We are some...
by pshonore
Sun Jul 26, 2015 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Unequal estimated tax payments
Replies: 25
Views: 1767

Re: Unequal estimated tax payments

As has been suggested, the underpayment penalties are often small enough that it is more expensive in time and headache to try to figure out the rules than to just pay it. I believe my penalty two years ago was around $45 because I did not meet safe harbors and did not bother to pay any estimated t...
by pshonore
Sun Jul 26, 2015 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Tax question- One time Consulting 1099 payment
Replies: 10
Views: 571

Re: Tax question- One time Consulting 1099 payment

desiderium wrote:You can also put 25% of your business income (after expenses) into a SEP-IRA.
Actually for a Sole Prop, the contribution is limited to 20% of net profit after deducting 1/2 of any SE taxes paid.
by pshonore
Sun Jul 26, 2015 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Beneficiaries for taxable and non-taxable accounts
Replies: 9
Views: 880

Re: Beneficiaries for taxable and non-taxable accounts

Typically there is no benefit to naming a living trust as beneficiary of a tax-advantaged account--it just complicates things. It still may be possible to stretch distributions for the inherited IRA(s), but there are restrictions, and it has to be set up correctly. Some attorneys recommend naming a...
by pshonore
Sat Jul 25, 2015 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Unequal estimated tax payments
Replies: 25
Views: 1767

Re: Unequal estimated tax payments

This is surprisingly complex. A full answer requires detailed knowledge of the rules or details of your situation you did not give. There are at least some circumstances where making a small payment immediately will reduce the penalty. First of all check which safe harbor you used to calculate your...
by pshonore
Fri Jul 24, 2015 12:43 pm
Forum: Personal Consumer Issues
Topic: OTR Microwave [Over The Range]
Replies: 19
Views: 1263

Re: OTR Microwave

There are some few OTR microwaves that vent outside. Most are not real vents, that is they only have a small cheap filter for odors, recycling the "vented" air back into the kitchen. I think the whole idea of OTR microwaves is flawed. Powerful electronic devices prefer cool, dry condition...
by pshonore
Fri Jul 24, 2015 9:20 am
Forum: Investing - Help with Personal Investments
Topic: Roth IRA for children?
Replies: 23
Views: 1879

Re: Roth IRA for children?

You also want to avoid the child paying SS taxes on the "earnings". The IRS website states that's ok as long as you run a business organized as a Sole Prop or husband and wife partnership. No S-Corps, no C-Corps. But just paying "wages" for household chores wouldn't make the cut.
by pshonore
Thu Jul 23, 2015 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: Help Parents set up Investments
Replies: 6
Views: 470

Re: Help Parents set up Investments

You can contribute to a Roth after 70, but only with earned income.
by pshonore
Thu Jul 23, 2015 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA for children?
Replies: 23
Views: 1879

Re: Roth IRA for children?

I pay my teenage grandson about $50 a week to mow my yard and work around the house. I also deposit into his Roth IRA account an amount that matches his earning (about $2K a year). He would receive a Form 1099-Misc from me every year and he has to pay taxes on his earning. Pretty simple process. Yo...
by pshonore
Thu Jul 23, 2015 8:18 am
Forum: Personal Consumer Issues
Topic: Ground cover alternatives for large, sloping areas
Replies: 5
Views: 755

Re: Ground cover alternatives for large, sloping areas

Whats the sun/shade situation? In New England, Pachysandra makes a great cover in a shady area and spreads like wildfire. English Ivy is good for a sunny spot, as well as several varieties of low growing Juniper, Catoneaster, etc. Most of those will not tolerate heavy foot traffic though but should ...
by pshonore
Wed Jul 22, 2015 2:44 pm
Forum: Personal Consumer Issues
Topic: How to pay taxes on blog income?
Replies: 53
Views: 3679

Re: How to pay taxes on blog income?

How about folks who want to maximize a retirement plan contribution so they don't report expenses and increase their profit. Might pay a little more SS is the downside or perhaps that's what they want so they get SS quarters they need. There are lots of angles. That's why filing a Sched C with no e...
by pshonore
Wed Jul 22, 2015 1:30 pm
Forum: Personal Consumer Issues
Topic: How to pay taxes on blog income?
Replies: 53
Views: 3679

Re: How to pay taxes on blog income?

How about folks who want to maximize a retirement plan contribution so they don't report expenses and increase their profit. Might pay a little more SS is the downside or perhaps that's what they want so they get SS quarters they need. There are lots of angles. That's why filing a Sched C with no ex...
by pshonore
Wed Jul 22, 2015 12:46 pm
Forum: Personal Consumer Issues
Topic: How to pay taxes on blog income?
Replies: 53
Views: 3679

Re: How to pay taxes on blog income?

Not reporting all your expenses is tax fraud just as much as not reporting all your income.
by pshonore
Wed Jul 22, 2015 12:14 pm
Forum: Investing - Theory, News & General
Topic: Stock Tax Reporting?
Replies: 8
Views: 684

Re: Stock Tax Reporting?

You can also use high level summary totals from a Brokers 1099B statement under certain conditions. You can still efile and send in a copy of the statement using a document transmittal form.
by pshonore
Wed Jul 22, 2015 9:27 am
Forum: Personal Consumer Issues
Topic: How to pay taxes on blog income?
Replies: 53
Views: 3679

Re: How to pay taxes on blog income?

I'm self employed and some of my clients send a 1099, and some don't. I report it all. The IRS doesn't care about proving you have income (who would over report after all) -- the problems would arise if you under report what you were 1099'd for. Just track and report it all, fill out schedule c, an...
by pshonore
Wed Jul 22, 2015 9:17 am
Forum: Personal Consumer Issues
Topic: Recommendations for gas grill
Replies: 63
Views: 4902

Re: Recommendations for gas grill

My Weber recently died after more than 20 years of 52 week a year use in New England. (Bottom 6 inches of one of the legs rusted and fell off). Bought a Char-Broil to replace it. No comparison on quality. I was in HD last week and noted the lid on the Weber E330 probably weighs more than the entire ...
by pshonore
Wed Jul 22, 2015 6:47 am
Forum: Personal Consumer Issues
Topic: Deregulated New Jersey PSEG Region: Reputable Methods for Purchasing Eletricity?
Replies: 2
Views: 344

Re: Deregulated New Jersey PSEG Region: Reputable Methods for Purchasing Eletricity?

Good evening. Today, I reviewed the energy bill for my parents, and noticed rates of approximately 19.9 cents per kWh from Energy Plus Holdings. Per the other side of the document, had they been purchasing from PSE&G, they would have paid 12.5 cents per kWh. I checked a couple surviving bills f...
by pshonore
Tue Jul 21, 2015 6:49 pm
Forum: Investing - Help with Personal Investments
Topic: Liquidating [funds in UTMA account]
Replies: 15
Views: 1165

Re: Liquidating [funds in UTMA account]

VTI is considered a long term core holding by most people on this web site. It has a rock bottom expense ratio and is a broad index fund. If you have any earned income you might consider a sale of one of the other two holdings and starting a Roth IRA. If your other income is low enough you might qu...
by pshonore
Tue Jul 21, 2015 8:26 am
Forum: Investing - Help with Personal Investments
Topic: Liquidating [funds in UTMA account]
Replies: 15
Views: 1165

Re: Liquidating [funds in UTMA account]

VTI is considered a long term core holding by most people on this web site. It has a rock bottom expense ratio and is a broad index fund. If you have any earned income you might consider a sale of one of the other two holdings and starting a Roth IRA. If your other income is low enough you might qu...
by pshonore
Mon Jul 20, 2015 9:43 am
Forum: Personal Consumer Issues
Topic: How do I fix a hole in this wooden door?
Replies: 42
Views: 2320

Re: How do I fix a hole in this wooden door?

You can buy just a plain door but routing out the hinge mortises and drilling for a new handle is not a beginner's job if you've never done it and also requires tools you'll never use again. Funny, I did not find this difficult. I used a cheap set of wood chisel hand tools ($10) and just scraped ou...
by pshonore
Mon Jul 20, 2015 6:52 am
Forum: Personal Consumer Issues
Topic: How do I fix a hole in this wooden door?
Replies: 42
Views: 2320

Re: How do I fix a hole in this wooden door?

Looks like a standard Luan interior door. Go to the big box store and buy a pre-hung replacement which includes the jambs and sometimes even with a new handle/lockset installed. Probably less than $75. If you're lucky, the hinge placement will be identical and you can simply unscrew the door from th...
by pshonore
Thu Jul 16, 2015 9:37 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 466
Views: 65804

Re: What are you up YTD? [Year To Date]

Now at 2.14% YTD. This is total return on entire 7 figure portfolio. I have significant holding in EMs and Total international. But also a big chunk in Stable value to smooth things up. As of today, VWO is my only holding with negative total return YTD -0.42%. But my VEMAX stands at +1.04% YTD. I d...
by pshonore
Wed Jul 15, 2015 4:17 pm
Forum: Personal Consumer Issues
Topic: Getting rid of moles & voles (rodents)
Replies: 28
Views: 1682

Re: Getting rid of moles & voles (rodents)

When I was in undergrad we rigged up a simple motion sensor in one of the tunnels that would detonate a shaped charge, annihilating the critters in their tunnels. Might look into if you can use shaped charges in your area, and if so, what licenses are required. Perhaps that's what caused the beach ...
by pshonore
Wed Jul 15, 2015 2:55 pm
Forum: Personal Consumer Issues
Topic: Fed up with ATT
Replies: 66
Views: 6684

Re: Fed up with ATT

I don't really need a land line but I like having it so I have a number to give out to people I don't really want to talk to (banks, insurance people, etc.). I just have an answering machine hooked up to it and return legitimate (non-marketing) calls. That keeps most of the irritation calls segrega...
by pshonore
Wed Jul 15, 2015 2:44 pm
Forum: Personal Consumer Issues
Topic: Getting rid of moles & voles (rodents)
Replies: 28
Views: 1682

Re: Getting rid of moles & voles (rodents)

So are my dogs. But that's almost worse. Imagine a little trench about 4" wide , 3" deep and 2 feet long. And you can never get the dirt back into it or the grass on top. I've also tried the solar powered things that beep without much success. And then there was the time I was trying to te...
by pshonore
Wed Jul 15, 2015 11:28 am
Forum: Personal Consumer Issues
Topic: Updated - Propane Oven Makes Me Sick - Repair or Buy New?
Replies: 35
Views: 2136

Re: Updated - Propane Oven Makes Me Sick - Repair or Buy New?

CO detectors are a good addition to a house burning any type of fuel (NG, propane, fuel oil, kerosene and even wood) be it in a stove, furnace water heater, etc.
by pshonore
Wed Jul 15, 2015 11:23 am
Forum: Personal Consumer Issues
Topic: HomeDepot hardwood flooring issue
Replies: 9
Views: 1088

Re: HomeDepot hardwood flooring issue

I think you have to read the Warranty to answer those questions. What are the problems and what was the brand? I've bought a fair amount of Bruce flooring from HD and never had a problem. (I installed it myself)
by pshonore
Wed Jul 15, 2015 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Leasing vs buying
Replies: 10
Views: 978

Re: Leasing vs buying

Or if you're not sure a given vehicle is right for you, a lease is a way to find out. If you don't like it, you can give it back. Obviously you would want a lease where the total cost to purchase at lease termination is not much different than an outright purchase. Take the lease down payment, sum o...
by pshonore
Wed Jul 15, 2015 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Renegotiating Contract, selling our house
Replies: 18
Views: 1494

Re: Renegotiating Contract, selling our house

I've never dealt with obtaining a selling agent. (I've always FSBO'ed my homes.) But, I am an owner of a website development firm and we use sales agreements with clients. My agreement states that if either party is not living up to expectations, that the offended party can communicate in writing a...
by pshonore
Wed Jul 15, 2015 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Renegotiating Contract, selling our house
Replies: 18
Views: 1494

Re: Renegotiating Contract, selling our house

You'll never know if you don't bring it up with the agent. If you do, be sure to tell the whole story; otherwise you may be looking at a lawsuit when the agent becomes aware the property was sold.
by pshonore
Wed Jul 15, 2015 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Social Security estimated benefits accuracy with 'spotty' earnings
Replies: 27
Views: 2158

Re: Social Security estimated benefits accuracy with 'spotty' earnings

Use ANYPIA (downloadable from SS website). It is a bit of work, but you can then simulate any scenario you want and get accurate results.
by pshonore
Tue Jul 14, 2015 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: My Dad Opened A HELOC Out of Nowhere: What Do I Need To Watch Out For?
Replies: 12
Views: 1615

Re: My Dad Opened A HELOC Out of Nowhere: What Do I Need To Watch Out For?

I'm quite surprised your folks got an HELOC with no income. I have substantial income and an excellent re-payment record on my existing HELOC as well as a high FICO score. I had to jump through hoops to "renew" this loan recently. What's the interest rate? Was there an appraisal of their h...
by pshonore
Tue Jul 14, 2015 9:55 am
Forum: Personal Consumer Issues
Topic: VRBO illegal rental [Vacation Rentals by Owner]
Replies: 53
Views: 5054

Re: VRBO illegal rental [Vacation Rentals by Owner]

"VRBO, AirBnB, Uber, are all wholly illegal businesses." REALLY? I don't know specifics about AirBnB or Uber, but as for VRBO... how in the world are you determining that their entire business is "illegal"? Indeed...in my state, Uber is completely legal. http://www.washingtonpos...
by pshonore
Tue Jul 14, 2015 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Drop collision and/or comprehensive insurance?
Replies: 32
Views: 2712

Re: Drop collision and/or comprehensive insurance?

I keep full coverage on my only vehicle. If you drop comprehensive/collision on your primary vehicle, you will have no coverage when you rent a vehicle and will have to pay the ultra-expensive insurance sold by rental companies. Also, on an older car, comprehensive and collision is pretty inexpensi...
by pshonore
Sat Jul 11, 2015 12:53 pm
Forum: Investing - Help with Personal Investments
Topic: Is there any benefit to a Roth IRA if I don't make enough to pay capital gains taxes?
Replies: 20
Views: 1513

Re: Is there any benefit to a Roth IRA if I don't make enough to pay capital gains taxes?

I think he means when he "earns" the funds (unlike say a Traditional IRA deduction) .
by pshonore
Wed Jul 08, 2015 9:51 am
Forum: Personal Consumer Issues
Topic: kitchenaid vs. bosch dishwasher
Replies: 61
Views: 3209

Re: kitchenaid vs. bosch dishwasher

Latest Consumer Reports rates a KitchenAid the highest but a Bosch is the "Best Buy". The top 10 are quite close and include Kenmore Elite, and Miele as well. They do note the repair rate for Bosch is 9% compared to KitchenAid's 18%
by pshonore
Tue Jul 07, 2015 12:44 pm
Forum: Personal Consumer Issues
Topic: Affordable sheets, 100% guarantee?
Replies: 17
Views: 1332

Re: Affordable sheets, 100% guarantee?

Boll and Branch - http://www.bollandbranch.com ; some may not consider them affordable though.
by pshonore
Tue Jul 07, 2015 12:40 pm
Forum: Investing - Help with Personal Investments
Topic: Best way to invest in OIL
Replies: 58
Views: 3696

Re: Best way to invest in OIL

The best way to invest in oil is to invest in broad market indexes that happen to contain oil companies, although investing in Oil COMPANIES isn't really the same thing as investing in OIL. A few posters here will occasionally advocate investing a small (no more than 10% max) portion of your portfo...
by pshonore
Tue Jul 07, 2015 12:31 pm
Forum: Investing - Theory, News & General
Topic: Does An All ETF Portfolio Make Sense?
Replies: 40
Views: 3261

Re: Does An All ETF Portfolio Make Sense?

I am too busy at work during the day (typically) to sit down and purchase ETFs. I love the automatic investment option of mutual funds and can place trades for them anytime (i.e. at night) and have them executed at the end of the next day. But to each their own - we (as investors) are lucky to have...
by pshonore
Tue Jul 07, 2015 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Need help calculating Estimated Quarterly Tax for Contractor
Replies: 21
Views: 837

Re: Need help calculating Estimated Quarterly Tax for Contractor

Again you should figure total tax due (including SE tax) for your MFJ return and then subtract your withholding for any W2 or other income withholding to get the net balance divided by 4 to get what you normally need to send in quarterly.
by pshonore
Tue Jul 07, 2015 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Tax Penalty?
Replies: 5
Views: 590

Re: Roth IRA Tax Penalty?

Did you report the 1099R distribution on your tax return? If not, the IRS has no way of knowing it is not taxable. You're correct that its non-taxable (as stated) but it still has to be reported
by pshonore
Tue Jul 07, 2015 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Need help calculating Estimated Quarterly Tax for Contractor
Replies: 21
Views: 837

Re: Need help calculating Estimated Quarterly Tax for Contractor

Simulate a return in Taxcaster using all your income, deductions (and withholding). If you owe more than 1K, pay the difference in 4 quarterly installments. Note that the first two are past due. You can also increase any other W2 type withholding to make up the difference. Does your wife have anythi...

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