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Re: Vanguard's Website - Bad, or just me?

There are many things that can be improved on Vanguard's website and IT departments, but it's a small price to pay to get funds at 0.05-0.15% instead of 1-2%. You get what you pay for.
by southerndoc
Wed Sep 17, 2014 12:06 am
 
Forum: Personal Consumer Issues
Topic: Vanguard's Website - Bad, or just me?
Replies: 36
Views: 2310

Re: IPhone 6 and AT&T Contract Extension

Call AT&T BEFORE you set up your phone. They will have you set it up while they're on the phone and get you on the right plan. There are some serious kinks in AT&T's automatic computer systems.
by southerndoc
Tue Sep 16, 2014 10:46 pm
 
Forum: Personal Consumer Issues
Topic: IPhone 6 and AT&T Contract Extension
Replies: 14
Views: 1105

Re: Air Purifier for Allergies

We have Honeywell HEPA filters with charcoal prefilters. Love them. The prefilter removes odors and the HEPA filter does very well at removing allergens. Living in Georgia, we have some hefty allergy seasons. I would stay away from ionic filters. There's a lot of controversy over the free radicals p...
by southerndoc
Tue Sep 16, 2014 10:43 pm
 
Forum: Personal Consumer Issues
Topic: Air Purifier for Allergies
Replies: 25
Views: 1284

Re: Opening Solo 401(k) and Closing SEP-IRA

I think he's saying that if I make contributions in 2014 (even for TY2013), then it is active. I will need to not make any SEP contributions in the year which I open the solo 401(k). I have a 5305-SEP.
by southerndoc
Tue Sep 16, 2014 12:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Opening Solo 401(k) and Closing SEP-IRA
Replies: 10
Views: 825

Re: Trouble Accessing Vanguard SBS Online

toto238 wrote:So it sounds like the bookmark/favorite seems to be the issue?


No, it has nothing to do with that since it happens on multiple computers (including my computer at work) even when not using a bookmark.
by southerndoc
Tue Sep 16, 2014 12:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Trouble Accessing Vanguard SBS Online
Replies: 5
Views: 435

Re: Trouble Accessing Vanguard SBS Online

I think it's a bug with the SBS website. I can enter my username, enter my password, and then it kicks me back to the username page. If I then go to smallbiz.vanguard.com and click the "log on to vanguard SBS" link, it takes me to my main page (already logged in).
by southerndoc
Mon Sep 15, 2014 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Trouble Accessing Vanguard SBS Online
Replies: 5
Views: 435

Re: Opening Solo 401(k) and Closing SEP-IRA

Not what you asked, but I think you might reconsider converting the SEP IRA to Roth. The exception would be if the SEP is small or if you are still in a low tax bracket. If the SEP is large and/or if you are in a higher bracket, you might consider opening your Solo 401k at Fidelity and rolling the ...
by southerndoc
Mon Sep 15, 2014 11:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Opening Solo 401(k) and Closing SEP-IRA
Replies: 10
Views: 825

Re: Opening Solo 401(k) and Closing SEP-IRA

Thanks Spirit. That's what I was thinking. I will wait until 2015 to open it.
by southerndoc
Mon Sep 15, 2014 1:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Opening Solo 401(k) and Closing SEP-IRA
Replies: 10
Views: 825

Trouble Accessing Vanguard SBS Online

Is anyone else having trouble accessing Vanguard's small business services online? I enter my user name, click submit, it shows my password image, but when I type my password and hit submit, it returns me to the screen to enter my user ID.
by southerndoc
Sun Sep 14, 2014 12:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Trouble Accessing Vanguard SBS Online
Replies: 5
Views: 435

Re: Tax Deduction for Charitable Contributions at Businesses

You're kidding right? You are really going to keep (or scan) 100 receipts for $1 each? Considering I'm in the top tax bracket, this could save me enough in taxes to buy a decent dinner. It all adds up. Southern doc, if you are in the 39.6% federal bracket,, it is likely more important that you give...
by southerndoc
Sat Sep 13, 2014 2:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Deduction for Charitable Contributions at Businesses
Replies: 15
Views: 828

Re: Tax Deduction for Charitable Contributions at Businesses

Calm Man wrote:You're kidding right?
You are really going to keep (or scan) 100 receipts for $1 each?


Considering I'm in the top tax bracket, this could save me enough in taxes to buy a decent dinner. It all adds up.
by southerndoc
Sat Sep 13, 2014 3:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax Deduction for Charitable Contributions at Businesses
Replies: 15
Views: 828

Re: What should be Shredded

If you have a large amount to shred at one time, just take it to Staples, Office Depot, etc. They charge by the pound, but rates are reasonable.
by southerndoc
Fri Sep 12, 2014 1:07 pm
 
Forum: Personal Consumer Issues
Topic: What should be Shredded
Replies: 18
Views: 1413

Tax Deduction for Charitable Contributions at Businesses

Frequently my wife and I will add $1 to our restaurant, business, etc. bills for various charities. Today I realized a fast food restaurant where I donated $1 to a kids hunger fund was listed on the receipt. Is this type of receipt of enough quality to satisfy IRS documentation to deduct the donatio...
by southerndoc
Fri Sep 12, 2014 1:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax Deduction for Charitable Contributions at Businesses
Replies: 15
Views: 828

Re: chip credit cards

It'll take a few years to eliminate the magnetic strips. This is just a step in the process. The chip cards are scanned differently.
by southerndoc
Thu Sep 04, 2014 6:45 am
 
Forum: Personal Finance (Not Investing)
Topic: chip credit cards
Replies: 25
Views: 1546

Stock Grant

I was granted stock from my company (100,000 shares with a PAR value of 0.01/share). In 2 years this will mature and will be worth a minimum of $1 per share or actual market value, whichever is greater. When will I need to pay taxes on this? Do I need to pay taxes on the $1,000 value I received this...
by southerndoc
Wed Aug 27, 2014 7:03 am
 
Forum: Investing - Help with Personal Investments
Topic: Stock Grant
Replies: 4
Views: 245

Re: Question on spousal ROTH IRA backdoor

See this thread for a lot of helpful information: viewtopic.php?f=2&t=129704
by southerndoc
Fri Aug 22, 2014 1:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Question on spousal ROTH IRA backdoor
Replies: 7
Views: 686

Re: Spousal IRA and Backdoor Roth Conversion with High AGI

So Vanguard won't charge a fee for the traditional IRA with $0 balance? I'm not incorporated. 100% of my independent contractor reimbursement is my salary. I do write business expenses out of a business checking account, but sometimes do make personal payments with the business account. I was told b...
by southerndoc
Wed Aug 20, 2014 12:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Spousal IRA and Backdoor Roth Conversion with High AGI
Replies: 12
Views: 1058

Re: Spousal IRA and Backdoor Roth Conversion with High AGI

My plan is to contribute the max around October/November and do a full conversion a week or so later. So there should be no remaining IRA assets (she currently has no retirement funds -- either 401(k), 403(b), or IRA). Next year I will repeat it, so I will need to file another form for next year. My...
by southerndoc
Tue Aug 19, 2014 11:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spousal IRA and Backdoor Roth Conversion with High AGI
Replies: 12
Views: 1058

Re: Spousal IRA and Backdoor Roth Conversion with High AGI

If we file 8606 this year, do a complete Roth conversion, and don't contribute again in 2015, must we still file 8606 annually (until we retire)?
by southerndoc
Tue Aug 19, 2014 11:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spousal IRA and Backdoor Roth Conversion with High AGI
Replies: 12
Views: 1058

Re: Spousal IRA and Backdoor Roth Conversion with High AGI

Individual means individual. So her IRA accounts must be considered but not yours. The transferring of your account applies to your Backdoor Roth, not hers. I just caught this while searching for an older post I made. So if I contribute $5,500 (I think that's the IRA limit for 2014) to her spousal ...
by southerndoc
Tue Aug 19, 2014 10:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spousal IRA and Backdoor Roth Conversion with High AGI
Replies: 12
Views: 1058

Re: B&H Photo - NY City Experience

Another happy customer here. They even took back a $1000 UPS unit that I ordered not knowing it required a special high amp plug. Completely my fault for not reading the specs, and they issued a full refund (I had to ship the 70 pound unit myself). Highly recommend B&H. We order photo and comput...
by southerndoc
Tue Aug 19, 2014 10:36 pm
 
Forum: Personal Consumer Issues
Topic: B&H Photo - NY City Experience
Replies: 35
Views: 2377

Opening Solo 401(k) and Closing SEP-IRA

I'm wanting to take advantage of the backdoor Roth IRA option for both me and my wife (through a spousal IRA). I currently have a SEP, and I plan to convert that as well in a one-time conversion. For future backdoor Roth IRA conversions (after paying taxes on the SEP), I would like to not worry abou...
by southerndoc
Mon Aug 18, 2014 10:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Opening Solo 401(k) and Closing SEP-IRA
Replies: 10
Views: 825

Re: Cost of Medical Records

Most hospitals charge these fees to individuals and to attorneys because usually they are requesting records for possible lawsuits (either against the health system or another individual if it was an accident type situation). Health systems rarely charge other health systems/physicians for medical r...
by southerndoc
Sun Aug 17, 2014 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cost of Medical Records
Replies: 16
Views: 1079

Re: SEP and Sole Proprietor Max Compensation

If you want to save more pretax, you can start an S Corp, and then set up a single person Defined Benefit plan. The allowable contributions to this are MUCH greater than for any defined contribution plan. The accounting/actuarial expenses are also significantly greater, but you may come out way ahe...
by southerndoc
Mon Jun 23, 2014 12:08 am
 
Forum: Personal Finance (Not Investing)
Topic: SEP and Sole Proprietor Max Compensation
Replies: 13
Views: 759

Re: SEP and Sole Proprietor Max Compensation

I don't have any employees. My income is above $318k, so it looks like I can contribute the max $51k. That's what I thought initially, but I started second-guessing myself after reading into the IRS documentation.
by southerndoc
Sun Jun 22, 2014 11:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: SEP and Sole Proprietor Max Compensation
Replies: 13
Views: 759

SEP and Sole Proprietor Max Compensation

I am trying to figure out how much I can contribute to my SEP for 2013 (filed a tax extension). I am confused by the self-employment deduction situation. I understand the absolute maximum is $51,000 per year or 25% of compensation, whichever is less. With self-employment, it's 20% of your net earnin...
by southerndoc
Sun Jun 22, 2014 1:30 am
 
Forum: Personal Finance (Not Investing)
Topic: SEP and Sole Proprietor Max Compensation
Replies: 13
Views: 759

ACA/ObamaCare Problems - HSA-Compatible Plans

Prior to implementation of ACA, my wife and I had individual policies that were great. I had an HSA-compatible plan and she had a traditional plan. On 31 December, these plans ended because Blue Cross/Blue Shield of Georgia no longer offered them. I was forced to select a new plan. In doing so, I co...
by southerndoc
Mon May 12, 2014 10:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: ACA/ObamaCare Problems - HSA-Compatible Plans
Replies: 18
Views: 1325

Georgia 529 Tax Deductions

Does anyone know if the 529 tax deduction for Georgia is per taxpayer? My wife and I file married filing jointly. Are we allowed to contribute and deduct $2,000 (per beneficiary) or $2,000 per taxpayer (total of $4,000 for both of us)?

Thanks!
by southerndoc
Sun May 04, 2014 11:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Georgia 529 Tax Deductions
Replies: 5
Views: 281

Re: If you have ACA health insurance, what is your experien

If it is an HIE plan, I would strongly reconsider it. It's a huge hassle as many hospitals aren't participants. The few patients I've had who were under HIE plans that needed admission required 3-5 hours before setting up a transfer to a participating hospital.
by southerndoc
Sun Apr 20, 2014 6:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: If you have ACA health insurance, what is your experience?
Replies: 222
Views: 16505

Donating Clothing (with Previous Business Deduction)

If I were to donate professional clothing (scrubs) that were previously claimed as a business deduction in the prior year's taxes (but are no longer used), can I also claim a deduction for the donation? I'm assuming no, but I'm not sure if donating in subsequent years changes the rules any. Also, do...
by southerndoc
Mon Apr 14, 2014 1:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Donating Clothing (with Previous Business Deduction)
Replies: 2
Views: 367

Vanguard SEP Contribution with Tax Extension

I will be filing an extension for our 2013 taxes.

Does anyone know if Vanguard started allowing prior-year contributions through its small business website for contributions after April 15? Previously the prior year contribution option disappeared on April 15.

Thanks!
by southerndoc
Mon Feb 24, 2014 11:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard SEP Contribution with Tax Extension
Replies: 2
Views: 160

Re: Physician FICA return tax implications

Was the 1099-INT attached with the payment? I was expecting to get a 1099-INT but haven't received one yet. Guess I need to dig through the original paperwork to see if it's there.
by southerndoc
Fri Feb 21, 2014 1:17 pm
 
Forum: Personal Consumer Issues
Topic: Physician FICA return tax implications
Replies: 7
Views: 742

Re: Solo 401k -Vanguard's reason for not accepting IRA rollo

When I sent a letter to McNabb asking this, someone from his office stated it wasn't possible because of the way the plan is set up with the IRS. In order to allow rollovers/transfers, it would cost Vanguard a lot of time and money to redo the plan structure with the IRS.
by southerndoc
Tue Feb 11, 2014 10:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo 401k -Vanguard's reason for not accepting IRA rollovers
Replies: 15
Views: 1058

Re: Spousal IRA contribution

Does IRS require an 8606 be filed each year for a single contribution? I realize you have to file it each year a contribution is made, but what if you make $5500 contribution in 2014 but no other years? Must you file a form 8606 each year thereafter? What if you convert it to a Roth?
by southerndoc
Sun Jan 12, 2014 1:39 am
 
Forum: Investing - Help with Personal Investments
Topic: Spousal IRA contribution
Replies: 9
Views: 731

Re: Saving more than Sep IRA

I don't believe you can have both a SEP and individual 401(k) from the same business entity.
by southerndoc
Sun Jan 05, 2014 8:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Saving more than Sep IRA
Replies: 15
Views: 757

Spousal IRA and Backdoor Roth Conversion with High AGI

I've just realized a short while ago (through this forum) that I can contribute to a spousal IRA since my wife stays at home to take care of our child. My AGI is too high to allow for deductions of any contributions for her. I currently contribute to a SEP-IRA for my retirement. We both file married...
by southerndoc
Fri Jan 03, 2014 8:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Spousal IRA and Backdoor Roth Conversion with High AGI
Replies: 12
Views: 1058

Re: ER visit Qualified Medical Expense?

As others have said, you won't be able to negotiate a rate if your insurer has already negotiated a rate. You may, however, be able to talk with financial about lowering your out of pocket expenses after your copay has been paid. The copay cannot be reduced under most insurance contracts. Most urgen...
by southerndoc
Mon Dec 16, 2013 9:41 am
 
Forum: Personal Finance (Not Investing)
Topic: ER visit Qualified Medical Expense?
Replies: 11
Views: 696

Re: Spousal IRA contributions

How does one establish a spousal IRA? I cannot deduct anything for doing so because of AGI, but would be interested in contributing just for tax deferred earnings and possible Roth conversion later after I change my SEP to an individual 401(k).
by southerndoc
Thu Dec 12, 2013 9:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Spousal IRA contributions
Replies: 13
Views: 1424

Brokerage Account in Vanguard SEP-IRA

I set up a brokerage account in my Vanguard Roth IRA. Was pretty easy to do it online.

I don't see an option to do so in my SEP-IRA, but on Vanguard's website description of SEP-IRA plans, it states that it allows a brokerage account.

Does anyone know if this is possible?
by southerndoc
Tue Nov 26, 2013 11:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Brokerage Account in Vanguard SEP-IRA
Replies: 0
Views: 143

Re: Solo 401K and ROTH 401K

Can you change contributions year-to-year between Roth and traditional in a Solo 401(k)? Ex: This year contribute $10k to Roth portion and $7k to traditional, but next year do all Roth or all traditional?
by southerndoc
Mon Nov 25, 2013 12:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Solo 401K and ROTH 401K
Replies: 14
Views: 485

Re: Quicken Replacement

I think the iPad app can function independently.
by southerndoc
Sun Nov 24, 2013 2:00 pm
 
Forum: Personal Consumer Issues
Topic: Quicken Replacement
Replies: 20
Views: 2982

Re: Quicken Replacement

Highly, highly recommend iBank. You can get an iPad version as well and sync both.

In order to fully experience it, you'll need to purchase iBank for iPad and Mac and then subscribe to DirectAccess from IGG Soft (the developer). It'll allow you to better utilize everything.
by southerndoc
Sun Nov 24, 2013 1:26 pm
 
Forum: Personal Consumer Issues
Topic: Quicken Replacement
Replies: 20
Views: 2982

Re: Alternatives to TIVO

Highly recommend the TiVo Roamio. Hands down the best DVR ever made. I have a Roamio Pro with 6 Minis connected, all of them with lifetime subscriptions. It's expensive, but Comcast wants $9.95/month for each additional outlet. Without the Minis, I would be paying $60/month extra in just additional ...
by southerndoc
Thu Nov 21, 2013 8:49 am
 
Forum: Personal Consumer Issues
Topic: Alternatives to TIVO
Replies: 10
Views: 7227

Re: Switch from SEP IRA to Individual 401k

I didn't know you could have employees with an individual 401(k).

I'm not sure if I can employ my wife to do things. I'm a physician, and I don't think paying her for doing errands would qualify.
by southerndoc
Sat Aug 31, 2013 6:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Switch from SEP IRA to Individual 401k
Replies: 14
Views: 938

Re: Schwab Personal DB Plan [Defined Benefit]

This can be a good solution for someone with high current taxable income and the ability to put a lot of money away and is possibly behind in saving (haven't used it myself). The downsides that I've seen are that you have to continue funding it, so if something happens in the future and you can't y...
by southerndoc
Sun May 05, 2013 7:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Schwab Personal DB Plan [Defined Benefit]
Replies: 4
Views: 635

Imdividual to Family HSA - Contribution Limit and Account

I'm planning to convert our individual insurance policies to a family policy later this year (after the exchanges open). Currently my wife has an individual traditional PPO with our daughter on it. My policy is an HSA-compatible HDHP and I've contributed money yearly for the past few years except th...
by southerndoc
Thu May 02, 2013 3:03 am
 
Forum: Personal Finance (Not Investing)
Topic: Imdividual to Family HSA - Contribution Limit and Account
Replies: 2
Views: 348

Re: Any experience with Sonos sound system?

Another Sonos fan here.
by southerndoc
Wed Apr 17, 2013 1:29 pm
 
Forum: Personal Consumer Issues
Topic: Any experience with Sonos sound system?
Replies: 24
Views: 3040

Re: HSA Strategy Question

Larry, is there a time limit on the withdrawals? I never thought about this. If I withdraw in 30 years when I'm retired, can I use a receipt for today to get everything tax free? My wife and daughter are on one individual plan (non-HSA) and I'm on another individual plan (HSA). If I convert her plan...
by southerndoc
Sat Apr 13, 2013 10:20 am
 
Forum: Investing - Theory, News & General
Topic: HSA Strategy Question
Replies: 11
Views: 884

Multiple HSA's in the Family

I have an individual HDHP for myself. My wife, who is unemployed, has an individual policy. I plan to add our daughter to her plan as soon as she is born in a few weeks. I've thought about switching my wife's plan to a HDHP family plan so I can contribute to an HSA. If I do this, can I contribute th...
by southerndoc
Thu Mar 28, 2013 10:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Multiple HSA's in the Family
Replies: 1
Views: 318
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