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Re: Does a home mortgage use Simple or Compund Interest?

Can someone explain how a home mortgage loan, fixed rate, works please? Is it simple interest or compund and if its compund would that be daily compound or something else? Thank you Someone bumped my blog post on this topic. I just noticed after 100+ replies there didn't seem to be a clear conclusi...
by tfb
Mon Apr 27, 2015 12:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does a home mortgage use Simple or Compund Interest?
Replies: 136
Views: 11466

Re: TD Ameritrade Solo 401k Questions

I am a sole proprietor, and I've been told on several occasions that TDA doesn't track employer/employee contributions; that is up to me. I separate the two by having a ROTH 401k as well, where all of my employee contributions go. Employer contributions get shunted to the regular 401k. I think this...
by tfb
Mon Apr 27, 2015 12:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: TD Ameritrade Solo 401k Questions
Replies: 23
Views: 722

Re: TD Ameritrade Solo 401k Questions

At fidelity, the transaction history showed the contributions and whether they were employee or employer contributions. TD must have similar features. We don't know whether this is true or not at TDA. It's possible TDA asks you to track it yourself, as reported by the previous post below. That's wh...
by tfb
Sun Apr 26, 2015 4:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: TD Ameritrade Solo 401k Questions
Replies: 23
Views: 722

Re: How hard is it to set up a solo 401k?

So here's the scheme: I claim a trivial amount of self-employment income, set up a solo 401k, clear up my traditional IRA, and then use my now-empty traditional IRA to do backdoor roth contributions. You can't just claim a trivial amount of self-employment income. You have to actually make the inco...
by tfb
Sun Apr 26, 2015 4:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: How hard is it to set up a solo 401k?
Replies: 15
Views: 1248

Re: How does this site make money?

Name one "monetized" website that you think better serves its audience than this one. Too many. Google serves its audience (search for most relevant information) better than this one does its audience (share investing knowledge). Facebook serves its audience (connect people with their fri...
by tfb
Tue Apr 14, 2015 8:51 pm
 
Forum: Forum Issues and Administration
Topic: How does this site make money?
Replies: 39
Views: 5410

Re: 401k conversion tax when moving

iverson3504 wrote:Any other ideas on how to limit the income to one state without having to wait until 2016?

What's the rush? Waiting is the safest bet. Otherwise do a mock return as a part-year resident in state A with and without this extra income and compare.
by tfb
Mon Apr 13, 2015 7:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k conversion tax when moving
Replies: 15
Views: 846

Re: ESPP Worth It?

The numbers I used for my analysis are below, with numbers rounded/estimated for ease of math: Funds for purchase every three months: $1200 Share price: $30 - 5% = $28.50 Shares purchased = 42.1 Sale proceeds = $1263 - $25 = $1238 Pre-tax return = $38 Post-tax return = $38 * 66.5% = $25.27 Return p...
by tfb
Mon Apr 13, 2015 6:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: ESPP Worth It?
Replies: 17
Views: 1201

Re: Help with 8949 cost basis

The tax software shows my basis as $11,425 and my gain/loss as $8,567 and then it continues on to show me my cost basis again is $11,425 and my sales price as $19,992. When I enter this in the software it change my tax due to the federal gov't by $2,587.00 which seems very high so I don't think the...
by tfb
Mon Apr 13, 2015 5:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with 8949 cost basis
Replies: 4
Views: 354

Re: How does this site make money?

The real story behind all this is the selflessness of the owners of this site. This is a million dollar a year site they have simply decided not to monetize. The beauty of capitalism is that you can make money and at the same time serve your purpose better. If the site chooses to monetize, it can h...
by tfb
Sun Apr 12, 2015 10:50 pm
 
Forum: Forum Issues and Administration
Topic: How does this site make money?
Replies: 39
Views: 5410

Re: TurboTax Flagship Pricing for Tax Year 2014?

From Vanguard site: *Flagship Desktop download Premier is free for the 2014 tax year only. TurboTax Premier Desktop Download $^^.^^ Free, including state filing* --- As a Flagship client at Vanguard, I was able to download Turbo Tax Premier for free, which supposedly includes "state filing&quo...
by tfb
Sun Apr 12, 2015 9:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: TurboTax Flagship Pricing for Tax Year 2014?
Replies: 4
Views: 462

Re: How does this site make money?

A note on Payal. Larry and I have kept Bogleheads.org non-commercial, but it is not a charity. So Paypal takes its standard cut of 2.9% and a 30 cent transaction fee from every transaction, regardless of whether you do it by balance transfer or credit card. Which, incidentally, is why Paypal pushes...
by tfb
Sat Apr 11, 2015 5:17 pm
 
Forum: Forum Issues and Administration
Topic: How does this site make money?
Replies: 39
Views: 5410

Re: Backdoor Roth after Rollover

Based on what you've described, and if I understand things correctly, if you make a non-deductible contribution to a tIRA now, before April 15, for tax year 2014, the pro-rata rule will apply when you do the conversion. It will not apply because you are not converting in 2014. The important end-of-...
by tfb
Sat Apr 11, 2015 3:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth after Rollover
Replies: 10
Views: 896

Re: Health Insurance Premium Deduction and Credit

This is ACA coverage through the Exchange. I am self employed. When you qualify for both the deduction and the credit make sure your accountant or his/her software handles the iterative calculation that allocates the gross premium between the deduction and the credit. Send Rev. Proc. 2014-41 to you...
by tfb
Fri Apr 10, 2015 9:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Premium Deduction and Credit
Replies: 2
Views: 265

Re: Backdoor Roth and a 401k rollover in the same year tax f

Is it possible to do a Backdoor Roth and a 401k rollover into a traditional IRA in the same year without paying taxes? It's possible if you roll the pre-tax money from the traditional IRA to an employer plan in the same year, before December 31. what are savvy people doing who are in this situation...
by tfb
Fri Apr 10, 2015 9:41 am
 
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth and a 401k rollover in the same year tax free?
Replies: 6
Views: 330

Re: The $1 Million Goal: Source of Motivation or Discouragem

EmergDoc wrote:I'm not saying you've got to build a website that'll pay you $200K a year. I'm saying that $30K just isn't that much money.

It actually is for a website. I have years of proof.
by tfb
Thu Apr 09, 2015 5:54 pm
 
Forum: Investing - Theory, News & General
Topic: The $1 Million Goal: Source of Motivation or Discouragement?
Replies: 172
Views: 15884

Re: Withdrawing from balanced funds when stocks are down

Christine Benz at Morningstar says she avoids balanced funds in her bucket portfolios because you don't want to sell stocks in a downturn. But then I've read posters here saying you're not really doing that; you're selling the bond portion and then the fund is automatically rebalancing by buying st...
by tfb
Wed Apr 08, 2015 2:33 pm
 
Forum: Investing - Theory, News & General
Topic: Withdrawing from balanced funds when stocks are down
Replies: 30
Views: 1660

Re: Small Value is not tax inefficient!

The ETF share class has helped the tax management considerably, by allowing shares with low basis costs to be disposed of in ETF redemptions. This is of course unique to Vanguard for the next several years. The small value iShares S&P 600 Value ETF (IJS) is more tax efficient than VTI. IJS: tot...
by tfb
Sun Apr 05, 2015 6:01 pm
 
Forum: Investing - Theory, News & General
Topic: Small Value is not tax inefficient!
Replies: 13
Views: 1584

Re: Very Complex Backdoor Roth IRA Conversion

Me: 1. Open a solo 401k through Fidelity before 4/15/15 and contribute a small amount from my side income of $2k. 2. Roll the $35k in my SEP IRA (which is with vanguard) into the solo 401k at Fidelity before 4/15/15 to avoid the pro-rata rule Too late to contribute 2014 poker income to solo 401k no...
by tfb
Fri Apr 03, 2015 8:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Very Complex Backdoor Roth IRA Conversion
Replies: 10
Views: 832

Re: Vanguard Turbo Tax prices anounced

If anybody is still monitoring this topic (or I'm the only one who hasn't done their taxes?), can you clear up the TT pricing for me? I have 3 Federal and four -2 different states- State Returns. I'm Flagship and downloaded Federal (seems to have automatically downloaded 1 state). I read that I can...
by tfb
Thu Apr 02, 2015 5:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Vanguard Turbo Tax prices anounced
Replies: 92
Views: 15723

Re: Great ESPP not for "ME"?

frisbee wrote:I just read through the prospectus, and wonder whether the language contained within is generic tax code or specific to my company.

Just generic tax code. The company can't say what's ordinary income what's capital gains.
by tfb
Wed Apr 01, 2015 7:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: Great ESPP not for "ME"?
Replies: 20
Views: 1808

Re: Why does Vanguard require snail mail for new application

Just curious why I need to print out a 9 page document they already have the info for? Seems like a waste and most other banks/brokerages can do everything online. Is Vanguard still really behind? I recall hearing about having to call in and wait 60 days and stuff like that. Hoping this isn't a for...
by tfb
Wed Apr 01, 2015 7:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why does Vanguard require snail mail for new applications?
Replies: 7
Views: 904

Re: Comparing tax software vs. my accountant?

Can one do a trial run of the software without having to purchase? How best to do a trial run of turbo tax vs HR block without having to pay for the software? Just buy the actual software (don't use online). They are very inexpensive relative to what you pay to your accountant. Both offer money-bac...
by tfb
Wed Apr 01, 2015 7:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Comparing tax software vs. my accountant?
Replies: 15
Views: 1265

Re: Turbo Tax Estimated Tax Coupons in *.pdf

Anyone have an idea what I could have done this, or is a known TT bug or something? I have not yet tried to contact TT, but I'm concerned about filing if there's something in there that's going to lead the IRS into expecting estimated tax payments from me. It always did that when I used TT several ...
by tfb
Sun Mar 29, 2015 11:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax Estimated Tax Coupons in *.pdf
Replies: 5
Views: 352

Re: 529 CO Stable Value Plus vs. EE Savings Bond

So EE Bond has higher 20-year rate, but CO 529 SV+ has much cheaper put option (get decent return if withdraw early and spend on non-qualified expenses). EE bond can only be used tax-free for educational expenses if income limitations are met. I won't meet them, so EE bond earnings will be federall...
by tfb
Sun Mar 29, 2015 11:17 am
 
Forum: Investing - Theory, News & General
Topic: 529 CO Stable Value Plus vs. EE Savings Bond
Replies: 3
Views: 452

Re: Direct-Indexing?

ETF's have some advantages and disadvantages that offset their usefulness to me in some situations. Distributions (retired, they go to my bank) have to be paid to a settlement account and then manually triggered to my bank while find distributions go direct, hands off. That depends on the broker. S...
by tfb
Sun Mar 29, 2015 11:13 am
 
Forum: Investing - Theory, News & General
Topic: Direct-Indexing?
Replies: 13
Views: 1244

Re: Additional Medicare Tax form 8959 deduction?

This year I made a high contribution % to my 401k. Thus the box 1 amount is considerably less than the amount in box 5. My tax preparer has included a form 8959 to my federal return and deducted additional medicare tax on Medicare wages. Is this correct? The amount is fairly substantial. It could b...
by tfb
Sun Mar 29, 2015 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Additional Medicare Tax form 8959 deduction?
Replies: 3
Views: 321

Re: Introducing the Next Level of Direct Indexing: The Wealt

I must admit I would also be a bit scared to leave wealthfront. Can you imagine them transfering those 500 stocks over to your new broker:) Actually that begs an interesting question: Do you own the individual stocks or is it a "basket", The Wealthfront 100, which would make it look and f...
by tfb
Sat Mar 28, 2015 10:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Introducing the Next Level of Direct Indexing: The Wealthfro
Replies: 17
Views: 2273

Re: Schwab Intelligent Portfolios [now live]

I was checking out Wealthfront's blog about their new direct indexing Wealthfront 100, and I noticed a separate blog about how Wealthfront has no minimums for TLH now. https://blog.wealthfront.com/tax-loss-harvesting-for-everyone/ I would assume this is in direct response to Schwab Intelligent Port...
by tfb
Sat Mar 28, 2015 8:36 pm
 
Forum: Investing - Theory, News & General
Topic: Schwab Intelligent Portfolios [now live]
Replies: 374
Views: 33796

Re: "Employees Forgo Wellness Cash Incentives Worth Millions

Many employers offer base contributions to health savings accounts and some are even offering matching contributions. My wife's employer contributes $804 for a family plan with an additional $0.33 match for every dollar contributed up to the IRS limits. In 2014 she received more employer contributi...
by tfb
Sat Mar 28, 2015 5:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Employees Forgo Wellness Cash Incentives Worth Millions"
Replies: 30
Views: 2872

Re: CRR Boston College: "Why I Dropped My Financial Adviser

$40k over 10 years is "quite small"? That's $4k a year. For what? And, by the way, $4k is 1% of $400,000. With a starting balance of $130k, her future value in 10 years will be $40k less if she gets 4% vs 6%. With a starting balance of $90k, her future value in 20 years will be $90k less ...
by tfb
Fri Mar 27, 2015 11:05 am
 
Forum: Investing - Theory, News & General
Topic: CRR Boston College: "Why I Dropped My Financial Adviser"
Replies: 21
Views: 2598

Re: CRR Boston College: "Why I Dropped My Financial Adviser

ShiftF5 wrote:2% haircut on $1MM = $20,000 Each Year.

Where are the customer's yachts? :annoyed

Her cost savings projection looked quite small: $40k over 10 years, $90k over 20 years. Not sure she was using extra 2% or just extra 1%. Her starting balancing isn't $1 million for sure.
by tfb
Fri Mar 27, 2015 10:21 am
 
Forum: Investing - Theory, News & General
Topic: CRR Boston College: "Why I Dropped My Financial Adviser"
Replies: 21
Views: 2598

Re: Apps for an individual CRM

Jimmy Mac 33 wrote:Basically a CRM system but this is just for me, and am hoping to stay away from a monthly fee service.

Check out Zoho CRM, which is online and on mobile. It's free for just you (and a few more users if desired).

https://www.zoho.com/crm/
by tfb
Fri Mar 27, 2015 10:16 am
 
Forum: Personal Consumer Issues
Topic: Apps for an individual CRM
Replies: 4
Views: 592

Re: Great ESPP not for "ME"?

Right, i've thought of using my savings to cover expenses throughout the 6 month period, but when I sell(assumming i sell in 2015) - this will still increase my AGI by ~5k, Then I will not able to get any of a 1600 itemized deduction or all of the lifetime learning credit, so it makes my tax go up ...
by tfb
Thu Mar 26, 2015 2:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Great ESPP not for "ME"?
Replies: 20
Views: 1808

Re: My 30-day trial experience with Betterment

Something interesting I've learned is to not expect a switchback after 30 days. In all of these TLH events the market has recovered by then, and Betterment won't switch back at a gain. So the TLH'ed funds tend to get "stuck" in the secondary ETFs until a bigger downturn occurs. At some po...
by tfb
Mon Mar 23, 2015 5:16 pm
 
Forum: Investing - Theory, News & General
Topic: My 30-day trial experience with Betterment
Replies: 84
Views: 13664

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

As a CPA who does a small amount of tax work, I enjoy reading the comments on this discussion. The reality is that taxes are most likely your biggest expense each month (most people don’t think of taxes in this way as there is a perception that they are not controllable), and you need to be proacti...
by tfb
Mon Mar 23, 2015 4:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does your CPA/Tax Person help with reducing your taxes?
Replies: 66
Views: 5807

Re: Merrill Edge Question

breadman wrote:I am wondering if this has been the experience here.

Just put 'Merrill Edge' in the search box on the top right.
by tfb
Sat Mar 21, 2015 3:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge Question
Replies: 21
Views: 1722

Re: 2013 tax year: Morgan Stanley 1099-B questions

Using my 2013 1040 form available from TT - is there a smart way to figure out (sleuthing) if I've managed cost basis correctly in 2013, or not? Print out Schedule D and Form 8949. With the knowledge you have now, figure out the correct basis and see if you had the same on Form 8949. The basis on M...
by tfb
Sat Mar 21, 2015 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2013 tax year: Morgan Stanley 1099-B questions
Replies: 2
Views: 301

Re: Tax programs default to no insurance coverage

It was the first set of questions asked in H&R Block software. Very hard to miss.
by tfb
Sat Mar 21, 2015 11:15 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax programs default to no insurance coverage
Replies: 1
Views: 212

Re: What Behavior Gap?

Dalbar's calculation method might result in losses being overstated, but there is no question that behavior is the major contributor to lower returns. You don't have to look at returns, just look at fund flows. The problem with fund flows data (at least the aggregate fund flows, not fund flows to a...
by tfb
Sat Mar 21, 2015 11:11 am
 
Forum: Investing - Theory, News & General
Topic: What Behavior Gap?
Replies: 23
Views: 1932

Re: Schwab Intelligent Portfolios [now live]

Nobody else doing these robo-advisor type services (which are priced right around 0.20-0.30%) creates a cash allocation. Schwab is claiming this is free but it is not an apples-to-apples comparison. On a like-to-like basis, Schwab is charging a hidden fee. A point I tried to make in my article was ...
by tfb
Wed Mar 18, 2015 1:10 pm
 
Forum: Investing - Theory, News & General
Topic: Schwab Intelligent Portfolios [now live]
Replies: 374
Views: 33796

Re: Setting up a Small Business 401(k) / Mega Backdoor Roth

If the company provides the 3% safe harbor nonelective contribution, the ACP Test automatically passes, assuming the plan stays within acceptable limits for the matching contribution. I thought the safe harbor doesn't cover after-tax contributions. Anyway, since the OP is using Employee Fiduciary, ...
by tfb
Mon Mar 16, 2015 11:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Setting up a Small Business 401(k) / Mega Backdoor Roth
Replies: 8
Views: 692

Re: Setting up a Small Business 401(k) / Mega Backdoor Roth

Questions: 1) Do any of these conditions disqualify her from Mega Backdoor Roth at my company? a) She is the spouse of the highly compensated Owner b) She is sometimes a HCE at the other company. c) Combined earnings from both companies will push her into HCE range every year. (b) and (c) don't mat...
by tfb
Mon Mar 16, 2015 9:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Setting up a Small Business 401(k) / Mega Backdoor Roth
Replies: 8
Views: 692

Re: RSU Cost Basis (Etrade and Turbo Tax) - Help!!

Also, do you have a similar RSU demo with TT for adjusting cost basis? Yes, it's linked in the first paragraph in the ESPP article. Restricted Stock Units (RSU) and TurboTax: Net Issuance What difference does it make whether you do an adjustment, or just update the cost basis directly? At least on ...
by tfb
Sun Mar 15, 2015 1:20 am
 
Forum: Personal Finance (Not Investing)
Topic: RSU Cost Basis (Etrade and Turbo Tax) - Help!!
Replies: 30
Views: 3920

Re: RSU Cost Basis (Etrade and Turbo Tax) - Help!!

Wannaretireearly wrote:Should I be updating the TT cost basis to include the ordinary income recognized ($1539.56) given that is my 'Total adjusted cost basis'?

Don't change it directly. Add an adjustment. Here's how:

Adjust Cost Basis for ESPP Sale In TurboTax
by tfb
Sat Mar 14, 2015 12:45 am
 
Forum: Personal Finance (Not Investing)
Topic: RSU Cost Basis (Etrade and Turbo Tax) - Help!!
Replies: 30
Views: 3920

Re: Mango prepaid card - 4.8% (effective) APY

My CU does not have free ACH push. Do you think the following automation will work fine for each month using Ally and Mango after establishing 5k: Ally pulls $10 from CU (source of funding) Ally pushes $10 to Mango as 'direct deposit' Ally pulls $10+$25-$5 (monthly 5%interest-fees) from Mango 5 day...
by tfb
Wed Mar 11, 2015 12:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Mango prepaid card - 4.8% (effective) APY
Replies: 202
Views: 96033

Re: What's your definition on Working and Retired?

To me you are only "retired" if you meet all three of the following criteria: a) you're not currently working as a salaried employee (or as the sole owner/operator of a small business who may or may not receive a salary) b) you do not intend to work as a salaried employee again (or to sta...
by tfb
Tue Mar 10, 2015 11:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's your definition on Working and Retired?
Replies: 24
Views: 1823

Re: Schwab Intelligent Portfolios

engineerartist wrote:Just read this article - which could perhaps be dismissed as "sour grapes" - from a WealthFront member: https://medium.com/@adamnash/broken-val ... d550a27629

Not just a member. The CEO.
by tfb
Tue Mar 10, 2015 1:29 pm
 
Forum: Investing - Theory, News & General
Topic: Schwab Intelligent Portfolios [now live]
Replies: 374
Views: 33796

Re: Slate Article: Dream on Babyboomers-Semiretirement is a

This is just more retirement porn from Helaine Olen who certainly has an axe to grind. ... ... She always quotes Teresa Ghilarducci, too. Anyways, one has to take with a huge grain of salt, if not an entire salt mine, anything that these two conjure up. Some of it is true, but much of it is hyperbo...
by tfb
Tue Mar 10, 2015 1:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Slate Article: Dream on Babyboomers-Semiretirement is a Myth
Replies: 20
Views: 3059

Re: 5500 Filings for Solo/Individual 401(k)s; public informa

There are companies such as "free erisa" (http://freeerisa.benefitspro.com/) which will allow you to do 5500 searches.Their FAQ page says, however "...filed a 5500-EZ (which we do not disclose on FreeERISA.com)." This implies that the firm has access to 5500-EZ information, but ...
by tfb
Tue Mar 10, 2015 11:29 am
 
Forum: Personal Finance (Not Investing)
Topic: 5500 Filings for Solo/Individual 401(k)s; public information
Replies: 10
Views: 546

Re: Schwab Intelligent Portfolios is live

Given that I can get FDIC insured rates more than 10x what they are paying, it seems like an odd choice. Cash/ultra-short bonds are reasonable in the abstract. The specific investment seems to mostly benefit them vs. me. That's the opportunity cost being considered. Therefore the opportunity cost a...
by tfb
Tue Mar 10, 2015 11:12 am
 
Forum: Investing - Theory, News & General
Topic: Schwab Intelligent Portfolios [now live]
Replies: 374
Views: 33796
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