Bogleheads.org

I traveling to the Bahamas very soon. I have AT&T service. I have read that using the AT&T plan there and texting/calling is very expensive. The resort will have wifi (not cheap at $20/day). I have kids at home that we want to be able to stay in touch with via text (will call on voip at nigh...

You pay state taxes based on where the work is PERFORMED, not where the company is LOCATED. If I work remotely from my house in NC, but the company I work for is located in GA then I pay NC taxes.

A year ago you said you were 41 years of age, a "high earner", "heavy saver", and had a portfolio of $750k. Something in all of this doesn't quite ring true. Why is your portfolio only $750k? Are you worrying too much about reducing taxes and investing in foolish places such as ...

I am trying to reduce tax burden, not to pay that same burden earlier. So, you're trying to get out of paying the "burden" at all?? How very nice if you. "Tax burden" is a pretty common term describing the amount of taxes one has to pay. It doesn't have a negative connotation. A...

This sounds like a bogus question to me. Surely anyone with 150 posts over the last year and 3 months has been around this site long enough to know the legal and ethical ways to minimize taxes. (or at least the ways to research the issue) You might want to be careful with your responses. Vic Defini...

Owing alot generally means I made alot. Can't complain too much there.

I am trying to reduce tax burden, not to pay that same burden earlier.

Not sure what other information is needed. I am sure there are Bogleheads out there that do things that help them reduce taxes. For example, my CPA said some people invest in offshore drilling rigs which, for whatever reason, makes your investment 100% tax deductible. Invest $200k in 2013 and your i...

Just got my federal and state taxes completed thru my CPA firm and the amounts owed are pretty large. I know that is a good problem to have, but I feel the need to try to reduce them next year. Other than charitable contributions (I already do a bunch of those each year), does anyone have any good w...

Would it be terribly wrong to give the doctor a lump sum in cash, teacher a lump sum in cash and buy the job hopper a lifetime annuity for the same amount as the lump sum the other 2 received?

What are everyone's thoughts on leaving each child heir the same amount of inheritance no matter their personal situation? I know this is an area with many viewpoints and personal opinions, but I am trying to think forward for my end-of-life planning. For arguments sake, say you have 3 grown kids an...

I would get the Nexus 4 (buy straight from google store for $299). Then I would put it on straightalk (uses AT&T network) for unlimited web, text and minutes for $45/month. That way the employer pays for 100% of phone and 100% of monthly services!

I have found business checking/bank accounts very distasteful. My company puts many millions of dollars thru a mega bank every year and they don't treat us well at all. Everything is a battle. Here is big business banking at its worst: A couple of years ago this bank pushed their fraud product reall...

I would rather not go into specifically what my business is, but what I can tell you is that it is decent size now (we have hundreds of clients in 30+ states) and I have managers that can handle all of the day-to-day to increase the business. I have invested most of my time over the years in leaders...

I wouldn't be eliminating risk, just spreading it out over thousands of companies over multiple continents in many different industries. Isn't that the Boglehead way?

The enterprise revenue is much larger than $3M / year. If I could hire someone for $250k to 100% confidently run and grow the business the way I do then I would hire them in a New York minute. Alas, that person is EXTREMELY hard to find. That still wouldn't address my issue of a $3M bird-in-the hand...

To complete the loop I thought I would post back what I have decided to do. I am going to ride it out for 2-3 more years. I will be able to have very high income for a couple more years and very sure that I can increase my personal payout on the business by an additional $1M in that time as the reve...

I already have the kids college paid for. That isn't an issue. My youngest will be in college within 4 years, so I have already incurred most of the costs for the kids. Social security is another issue. I don't want to get political, but I am not counting on any as it very well could be means-tested...

Can you find a buyer that would want to keep you on as an employee for a couple of years and continue leading the business? That is definitely what they would want to do, but not what I would want to do. I never said I didn't like my work or that I needed something less demanding. To tell you the t...

I have about $200k left on the mortgage. I could pay it off in the next month if I wanted (it is dividend time), but for some reason I hesitate to do that.

Here is the real rub of the whole thing.... I only have about $1.5M currently. The other $2.5-$3M (after tax) would come from the sale of my business. I could sell it easily and get that amount right now. It has grown every year for 10 years and based on current conditions I don't see the growth sto...

Currently I am about 75% stock/25% bonds. Although I look at the stock market about once per week, swings up and down don't bother me a bit. The $100k/year includes all of our living expenses. Working a couple of extra years actually could make a large difference to me. I max out all of my retiremen...

Here is the situation that I am confronted with.... Can I retire comfortably at age 44 with $4M? 3.5M is in after-tax accounts. I would not want to go back to work after I retire... instead probably help out with non-profits, etc... If I felt there was a chance I would have to go back to work, I wou...

I am in a similar situation as you if you fast forward your life about 14 years. I have mid 7 figure in assets (not including my house) and am considering retiring at 45. I don't know your personal situation, but a spouse and kids can definitely make a huge dent in your plans. By the time I am 45, m...

I love the Clark Howard radio show and download the podcast everyday and listen to it to and from work. I think it would be awesome if there was a Boglehead radio show/podcast done (even weekly) that allowed people to call in and ask questions. The best part of Clark Howard is that he is product agn...

We started our safe harbor 401k w/ profit sharing when we had less than 10 employees. We are direct with T-Rowe Price. The cost to us is $0 (other than the initial plan set up). They have been great to work with. It is dirt cheap, but you do have to provide some info to them every year for the testi...

I had something like this happen to me as well. Luckily my house was new and still under the builder warranty, so I didn't have to pay for it. I had a structural engineer come out and he told me that it was a foundation issue. As an earlier poster stated, I used Ram jack as well. I felt like they we...

I have to do these employment verification checks for different employees multiple times per year. The latest trend in the last 2 years is that I get a call when the loan process starts, I get a call 1-2 days before closing and also get a call less than a week after closing. They do 3 checks for the...

A small contribution limit might not be the only downside. I heard on Clark Howard the other day that IRAs might not be protected from law suits and creditors, but 401ks are. That is a pretty significant difference if that is in fact true.

Unfortunately deferring income isn't an option. S-Corps have to push all money for the year thru as income to the owners even if it isn't going to be distributed. If your S Corp has a great year, you get an equally not-so-great tax bill. It is a good problem to have, but one that my CPA tries to hel...

I am in good shape financially and am grateful for that. My CPA brought it up due to the looming potential tax issues (fiscal cliff) that could take a serious bite out of my income. It really is a tax minimization issue. I am only looking into the issue b/c the CPA firm brought it up as a way to com...

I know this is probably crazy, but my CPA firm (very well respected firm) told me that many of their clients invest in offshore oil drilling programs. I don't know that much about them, but one of the main advantages is that you can write off 90% of your investment on your taxes in the 1st year. Wit...

When it was offered to military only starting in the 1920's, the membership since has grown to enlisted well over 30 years ago, so all those officers at one time only are all probably dead by now, so that scratches that theory off. I have been a USAA member since college and I am pretty sure it was...

Lightheir: I arranged with my parents that I'd pay them back over a 10 year period, with interest equivalent to a 5% return using an amortization schedule. Your parents helped you when you needed their help. Their financial situation and any tax-ramification are relatively unimportant. At the very ...

great info! thanks Doug!

I know it has been discussed before how companies set up 401ks where you can personally contribute over the max $17k in a 401k. I searched on it but couldn't find what I was looking for. Does anyone know where to point me to how this is done?

Thanks!

Base the price on the profits , not the turnover - 2 to 5 times annual profits is the typical range for a small biz as a very general rule of thumb. +100 on this He needs to look at the financial statements of the stores and get to the EBITA for the TTM (trailing 12 months). I know in my industry v...

Unemployment benefits are pretty bare bones. I choose to self-insure for this type of situation and it is called an emergency fund.

I sure hope there is nothing wrong with you because you've pretty much described me except we don't save $100k/year We only manage 1/3 of what we make and it's nowhere near that much. But yeah, my car just hit 167,000 miles. I buy the store brand sunscreen and the store brand milk. I have no proble...

Car -- I remember how stressful it was when I didn't have a reliable car...dreading driving on hot days, sitting at the stop light, knowing the car would start to overheat if I sat idle too long...yuk. New cars have better safety features and are more comfortable and have less chance of a breakdown...

I have plenty in term insurance. If I died tomorrow she would be instantly set. Guess I am more concerned if I didn't die, I want to be able to provide for the rest of our lives with no issues. I won't have a pension (just 401k, IRA and savings) and with the way social security is going I might not ...

Do you ever have the irrational feeling that any second of any day you can get hit head on by a drunk driver and end up dead? What good does all the money that you have saved do you then? I don't really care about that kind of money for me... I really want it for my wife if I should die early. I wa...

I have found that the more money I make (and the more that I have saved) the more paranoid I am that I don't have enough money and the cheaper I get. I save over $100k per year (401ks+IRAs+HSA+after tax savings) for retirement so I feel like I am doing well in the savings arena, however I am still a...

I would love if there was a boglehead podcast! Maybe some of the smarter folk on here could do something like that. They have a built in following! Take questions from call-ins, etc... Would have to dumb it down some, but I think could really help alot of people.

Wondering what other bogleheads listen to for podcasts. My 2 favorites are Clark Howard and 60 minutes. I listen to them every week and love that there are no commercials! I find most podcasts are not very good and am looking to broaden my podcast horizons, so I was interested to hear (no pun intend...

"TEMP" is a very general term and they aren't necessarily low end jobs that nobody wants. My company employs many "TEMPS" that make $100/hr. I don't think anyone would consider that low end.

I have enough in there to pay for 3.5 years of college. I continue to put in an additional $1k/month until I have the other .5 year funded. I want to thank everyone for the advice. I think I will rebalance the portfolio a little bit to make it more conservative since we will have to start drawing on...

In all honesty, the best job opportunity always has been and always will be in sales.

I was just there for the US open a couple of weeks ago. Check out http://www.comedycellar.com (in Greenwich village) if you like stand up comedy. You had to make a reservation (even on a Tues night) b/c it was completely booked, but you can do that online. One other thing that we really liked.... we...

My child is currently 17 and a senior in high school and will be attending an in-state public 4 year college next year. My question is what is the appropriate 529 investments at this point? Since going to college is less than 1 year away should I take all of it out of the stock market? All of my opt...

i started my company the old fashioned way. Don't make sales = don't eat. Never tried crowd sourcing but have heard alot about http://www.kickstarter.com/.

Good luck!