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All About Asset Allocation Interpretation

For any reader that may have a copy of Rick Ferri's second edition of "All About Asset Allocation" handy, I could use some assistance in my interpretation of the model "Mature Retiree Allocation Range presented in Table 12-7 on page 265. Regarding the allocation to real estate at 5%, ...
by tomd37
Sun Apr 19, 2015 7:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: All About Asset Allocation Interpretation
Replies: 1
Views: 367

Re: Property Tax Deduction cut-off date

When you amend the 2013 tax return you will have to attach a copy of Schedule A because that schedule is affected by the amendment. You also will have to mail the 1040X to the appropriate IRS facility as shown in the instructions for the form. Electronic filing is not available for 1040X. Tom D.
by tomd37
Mon Apr 06, 2015 4:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Property Tax Deduction cut-off date
Replies: 4
Views: 391

Re: Home Air Filters

I use the 20 x 25 x 1 inch 3M Filtrete Allergen Defense 1000/1085 MPR filter sold at Lowes or Home Depot locally. I have been cautioned by my HVAC company to consider not going to a higher level filter because it tends to reduce the air flow which can impact the proper operation of my HVAC units and...
by tomd37
Sun Apr 05, 2015 10:02 am
 
Forum: Personal Consumer Issues
Topic: Home Air Filters
Replies: 36
Views: 2613

Re: Paying federal taxes on social security benefits??

Retired 13 years ago, set my federal withholding amounts or percentages on my military pension and my SS benefits and have not changed them in all those years. I take my RMD late in the year and have a specific percentage withheld then to arrive at what I think is my federal tax liability. Got a $10...
by tomd37
Sat Apr 04, 2015 12:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying federal taxes on social security benefits??
Replies: 7
Views: 963

Re: Paying federal taxes on social security benefits??

FYI, if you do end up taking federal tax out of SS benefits in the future, the withholding of federal tax is in percentages, not specific dollar amounts. Those percentages are 7, 10, 15, and 25. IRS Form W4-V applies and is submitted to the local SS office.
by tomd37
Sat Apr 04, 2015 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Paying federal taxes on social security benefits??
Replies: 7
Views: 963

Re: Occasional big expenses after retirement

Fortunately I am in a retirement situation where my RMD exceeds my budget needs by a certain amount. I keep about two or three years of budget needs in various types of cash accounts where they are readily available if needed and that is what I have used when those "special needs" arise. I...
by tomd37
Fri Apr 03, 2015 4:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Occasional big expenses after retirement
Replies: 32
Views: 2684

Re: Gearing up for big replacement windows project

OP - I am willing to wager that once you get some estimates for the brand(s) of windows you desire you will at least double your pricing as Rupert alludes to. :dollar :moneybag
by tomd37
Fri Apr 03, 2015 11:03 am
 
Forum: Personal Consumer Issues
Topic: Gearing up for big replacement windows project
Replies: 35
Views: 2567

Re: IRS Identity Theft Tax Fraud

Epsilon Delta, Thanks for your comments. I was trying to point out that tens of millions of returns are processed by the IRS before they even have the data from employers etc. There is no way for them to compare data until much later in the regular tax season. I had my IRS refund direct deposited an...
by tomd37
Fri Apr 03, 2015 10:56 am
 
Forum: Personal Consumer Issues
Topic: IRS Identity Theft Tax Fraud
Replies: 47
Views: 4079

Re: IRS Identity Theft Tax Fraud

Question for those who know the correct answer; Does the IRS even have W-2, 1099-R, etc., information by the April 15th filing deadline to make computer checks against when a return in processed in the normal filing period? I have heard unofficially that information is not even available to them and...
by tomd37
Fri Apr 03, 2015 9:44 am
 
Forum: Personal Consumer Issues
Topic: IRS Identity Theft Tax Fraud
Replies: 47
Views: 4079

Re: Change W-4 after paying off mortgage

An allowance on the W-4 is not equivalent to a personal or dependent exemption amount of $4,000. Go the additional withholding amount route, as suggested by other posters, for the remaining pay periods for the year and make sure you adjust that again for the first pay period starting in 2016.
by tomd37
Sat Mar 28, 2015 9:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Change W-4 after paying off mortgage
Replies: 11
Views: 895

Re: Removing an asset from a living trust: Taxable event ??

I view a RLT as nothing more than a suitcase holding my possessions and I have the ability to add items to or remove items from that suitcase as I so desire. However, it would be interesting to know what exactly you have titled in the name of the trust that you might want to remove. Some people make...
by tomd37
Tue Mar 24, 2015 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Removing an asset from a living trust: Taxable event ??
Replies: 12
Views: 1074

Re: Have you used VITA or TCE?

Agree Jim and we do the same. Tom
by tomd37
Sun Mar 22, 2015 3:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you used VITA or TCE?
Replies: 22
Views: 1485

Re: Have you used VITA or TCE?

It sounds as if there might be a lot of variations between VITA sites around the country. In my area there is no "requirement" for all volunteers to certify at the advanced level as there is in the TCE program. Here the United Way works in conjunction with the IRS and sponsors most of the ...
by tomd37
Sun Mar 22, 2015 1:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you used VITA or TCE?
Replies: 22
Views: 1485

Re: Have you used VITA or TCE?

KYBlue,
Am very surprised to hear that VITA can do Sch E with depreciation. I always understood that was out-of-scope for both programs. Has been so in TCE for the twelve years I have been in the program in the US Central Region.
by tomd37
Sat Mar 21, 2015 8:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Have you used VITA or TCE?
Replies: 22
Views: 1485

Re: Newly retired teacher - tax questions

Depending on your sister's age, qualified medical expenses in excess of either 7.5% or 10% of AGI could be in effect for tax years 2015 and 2016. 7.5% if she is age 65 or older in either of those years and 10% if she is under age 65 in either of those years. Note that the percentage is 10% for all a...
by tomd37
Sat Mar 21, 2015 4:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Newly retired teacher - tax questions
Replies: 5
Views: 641

Re: Provia Legacy Steel Entry Door Experience?

Leonard, The two firms I had provide bids were my local privately owned windows and doors company (mostly windows) and a what I believe is a nationwide chain company (American Home Design). The latter was the high bidder. Check out http://www.proviaproducts.com website for dealers. Many companies ca...
by tomd37
Thu Mar 19, 2015 9:37 pm
 
Forum: Personal Consumer Issues
Topic: Provia Legacy Steel Entry Door Experience?
Replies: 9
Views: 568

Re: Provia Legacy Steel Entry Door Experience?

Leonard, In July 2010 I had three Provia replacement doors installed in my home. The front door is the Legacy 009 style steel door with the 160 sidelite containing clear lowE/argon glass. The second door is the 460 steel French door with clear lowE/argon glass with retractable screen door. The third...
by tomd37
Thu Mar 19, 2015 7:42 pm
 
Forum: Personal Consumer Issues
Topic: Provia Legacy Steel Entry Door Experience?
Replies: 9
Views: 568

Re: Vinyl or wood fence

For those of you who have or have had vinyl fences, are they available in lower heights (e.g., 36 to 48 inch high picket or similar types) that might be used to surround a yard, but not necessarily block the view from or into the yard from a common area in a subdivision?
by tomd37
Thu Mar 19, 2015 4:48 pm
 
Forum: Personal Consumer Issues
Topic: Vinyl or wood fence
Replies: 36
Views: 2025

Re: Do you buy "off-brand" gasoline?

100% pure gasoline - I believe it has been mentioned on this forum before, but if you would like to find 100% pure gasoline for your small engines (or even your car) there is a website that lists gas stations that sell 100% pure gasoline. The website is http://www.pure-gas.org and you can look up by...
by tomd37
Sun Mar 15, 2015 2:25 pm
 
Forum: Personal Consumer Issues
Topic: Do you buy "off-brand" gasoline?
Replies: 81
Views: 9554

Re: Do you buy "off-brand" gasoline?

I have been told that all gasoline starts the same. For instance here in middle Tennessee all gasoline flows through a major pipeline that comes up from the Gulf coast and goes somewhere up into the Indiana/Ohio area before terminating. All companies purchase their gasoline from storage areas off th...
by tomd37
Sun Mar 15, 2015 2:17 pm
 
Forum: Personal Consumer Issues
Topic: Do you buy "off-brand" gasoline?
Replies: 81
Views: 9554

Re: Automobile protectants

I am not sure about the comments on waxing a car once or twice a year. My wife has a 2001 Lexus ES300 with 68,000 miles on it. The car has always been garaged when not in use and the exterior has never been waxed. It is washed at least monthly by hand and I can count on one hand the number of times ...
by tomd37
Fri Mar 13, 2015 11:43 am
 
Forum: Personal Consumer Issues
Topic: Automobile protectants
Replies: 15
Views: 1020

Re: Charitable donations - tax question

If you are going to claim more than $500 non-cash contributions you will need to file IRS Form 8283. If you are going to claim more than $5,000 non-cash contributions you will also need the Form 8283, but you will also need written appraisals for some items. The rules get more complex as you go abov...
by tomd37
Fri Mar 13, 2015 9:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Charitable donations - tax question
Replies: 4
Views: 554

Re: Long Term Care and Taxes

Just a reminder that the current limitation on claiming medical expenses for those of us 65 or over changes from 7.5% to 10.0% starting with tax year 2017. We currently can claim qualified medical expenses that exceed 7.5% of our AGI as long as one of a MFJ couple or a single person is 65 or over, b...
by tomd37
Mon Mar 09, 2015 11:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Long Term Care and Taxes
Replies: 8
Views: 1029

Re: Annual Free Credit Report

JapanFan, You can also call 1-877-322-8228 to get your free annual credit report from any or all of the credit reporting companies (Equifax, Experian, Transunion). Takes about six minutes to complete. By calling it will be mailed to you. Being married I call every two months; every other month reque...
by tomd37
Sun Mar 08, 2015 8:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Annual Free Credit Report
Replies: 16
Views: 1245

Re: Credit Card Refund Not Posted

In my experiences with credit cards and credits applied to them, the big box stores are always faster in submitting credits to the credit card company bank. I suspect it has something to do with their method of transmission to the credit card company bank. The larger businesses probably have a much ...
by tomd37
Fri Feb 27, 2015 3:11 pm
 
Forum: Personal Consumer Issues
Topic: Credit Card Refund Not Posted
Replies: 14
Views: 877

Re: REITs

Not unusual for REITS to lose or gain 2% or more on a daily basis. They are volatile but I invest 10% of my total retired portfolio in REITS and have done so for 12 years. I think the VG REIT fund was up about 32% last year (2014) overall.
by tomd37
Tue Feb 24, 2015 9:23 pm
 
Forum: Investing - Theory, News & General
Topic: REITs [Why did Vanguard's REIT lose 2% today?]
Replies: 33
Views: 3576

Re: On line product reviews vs Consumers Reports

Last month I started my 51st year as a continuous subscriber to Consumer Reports magazine. My current five-year subscription expires in July 2015 and I am hesitant about renewing it. I definitely do not like the new format and I feel the reporting is no longer as detailed as it once was. :annoyed
by tomd37
Sat Feb 21, 2015 9:05 pm
 
Forum: Personal Consumer Issues
Topic: On line product reviews vs Consumers Reports
Replies: 37
Views: 2800

Re: College tax credit ?

Mom and Dad with only $13,000 income and one dependent daughter. The standard deduction and three exemptions would result in no taxable income. With no federal tax withheld on income, no refund. With no taxable income, no education credit to offset any tax and probably no refundable education credit...
by tomd37
Sat Feb 21, 2015 10:58 am
 
Forum: Personal Finance (Not Investing)
Topic: College tax credit ?
Replies: 11
Views: 836

Re: Advice dealing with heating contractor please

I would ask the person coming out with the contractor next week to identify himself and ask him to give you his company business card. It should fully identify his position in the company. I have had district and regional representatives from various companies come to my home at my request and they ...
by tomd37
Fri Feb 20, 2015 8:36 am
 
Forum: Personal Consumer Issues
Topic: Advice dealing with heating contractor please
Replies: 8
Views: 707

Re: Online Bill Pay question

Why not just have automatic payments of $1 each paid to AMEX on a given day each week (e.g. Monday) and then have the balance of your AMEX bill automatically paid as it becomes due. I would think Santander will automatically pay whatever the monthly billed amount is. I did exactly that, only $10 eac...
by tomd37
Thu Feb 19, 2015 8:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Online Bill Pay question
Replies: 4
Views: 451

Re: Dave Ramsey Lashes Out at His Financial Critics

Not sure I could accept investment advice from someone who has been in bankruptcy. Sounds like a conflict to me.
by tomd37
Tue Feb 17, 2015 4:50 pm
 
Forum: Investing - Theory, News & General
Topic: Dave Ramsey Lashes Out at His Financial Critics
Replies: 89
Views: 10108

Re: Making a substantial donation

The first document you want to look at is IRS Form 8283 and its instructions. You can pull it up and print it from the IRS website at http://www.irs.gov. There are special procedures for a non-cash contribution at that level. Then you have to determine if your itemized deductions will exceed the sta...
by tomd37
Tue Feb 17, 2015 2:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Making a substantial donation
Replies: 11
Views: 578

Re: Power Vent Gas Hot Water Tank - Thoughts?

We purchased our present home 19 years ago and our 50 gallon natural gas hot water is located in a closet inside the garage. It has about a twenty foot horizontal run out to the wall at the entrance of the garage. The water heater has a power vent on top and we replaced the vent about four years ago...
by tomd37
Tue Feb 17, 2015 8:52 am
 
Forum: Personal Consumer Issues
Topic: Power Vent Gas Hot Water Tank - Thoughts?
Replies: 7
Views: 475

Re: Filing Amended Tax Return

LateStarted,
I failed to mention that you will also have to attach the Schedule C and Schedule SE to the 1040-X as they are new forms created as a result of the amendment. Sorry I missed that in my first reply.
by tomd37
Mon Feb 16, 2015 4:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Filing Amended Tax Return
Replies: 8
Views: 600

Re: donation receipts

It is up to you to value the donations. The IRS allows you to take the "fair market value" of such items. They define the FMV as the value a willing buyer would pay to a willing seller. The FMV is normally the value that you would pay for a similar item in a thrift shop. If the total value...
by tomd37
Mon Feb 16, 2015 4:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: donation receipts
Replies: 8
Views: 457

Re: Filing Amended Tax Return

You have plenty of time (until April 15th) to file an amended return. Cool it for a while to ensure you have not forgotten something else. In our volunteer tax preparation services we won't even consider doing an amended return until about mid-March when things calm down with the early filers and ju...
by tomd37
Mon Feb 16, 2015 3:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Filing Amended Tax Return
Replies: 8
Views: 600

Re: Does anyone like the new Toyota/Lexus grilles?

I own both an older Lexus and Toyota and definitely would not consider either, specifically because of the grille. On the other hand my wife says there is no way in he.. that she is going to give up her 2001 ES300 with only 63K miles on it!
by tomd37
Sun Feb 15, 2015 12:00 am
 
Forum: Personal Consumer Issues
Topic: Does anyone like the new Toyota/Lexus grilles?
Replies: 61
Views: 4115

Re: Costco/AmEx relationship ending. New Costco MasterCard?

I have been using my original Blue Cash AMEX card for years now and will miss using it at Costco. It is the one that after the first $6500 tier is reached gives me 5% at grocery stores (no limit), drugstores, and gasoline and 1.25% on all other purchases. No annual fee for this Blue Cash card. Of co...
by tomd37
Thu Feb 12, 2015 5:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Costco/AmEx relationship ending. New Costco MasterCard?
Replies: 85
Views: 113076

Re: Father passed away/Getting taking advantaged of by inves

What you have been told and what has been suggested to you in every previous post is absolutely true. Stay away from this salesman and do everything yourself at your own pace. There is no urgency to the situation.
by tomd37
Tue Feb 10, 2015 7:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Father passed away/Getting taking advantaged of by investor?
Replies: 17
Views: 1976

Re: Amica burned me, now what...

If Amica was my insurance company I would be proud of them for weeding out potential insurance problems. I used them about twenty years ago and was very pleased with their service, including a claim (two deer jumped out of the woods onto the road directly in front of me). See what you can do with ot...
by tomd37
Mon Feb 09, 2015 10:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Amica burned me, now what...
Replies: 43
Views: 4943

Re: Identity Theft Risk when You Don't Get A Tax Refund

Spoken just like a great volunteer tax preparer :)
by tomd37
Sun Feb 08, 2015 11:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Identity Theft Risk when You Don't Get A Tax Refund
Replies: 13
Views: 1342

Re: Glasses turn around time and cost

My experiences with my local Costco has never been over ten calendar days from drop off to pick up.
by tomd37
Sun Feb 08, 2015 9:55 am
 
Forum: Personal Consumer Issues
Topic: Glasses turn around time and cost
Replies: 19
Views: 1626

Re: Identity Theft Risk when You Don't Get A Tax Refund

IMO, I think some fraudulent tax activity by another person involves the use of your SS number on a tax return that contains false (made up) data such as income and tax withheld. The person submits the return early in the tax season so that the possibility of a duplicate use of the same SS number is...
by tomd37
Sun Feb 08, 2015 9:53 am
 
Forum: Personal Finance (Not Investing)
Topic: Identity Theft Risk when You Don't Get A Tax Refund
Replies: 13
Views: 1342

Re: This CPA is advocating snail-mail over e-file for taxes

Not sure about the identity theft portion of the initial post. My understanding is that if someone can get your SSN somehow they can use it to submit a return with bogus (made up) income and tax withheld numbers and get their return accepted. Then when you submit your return the SSN has already been...
by tomd37
Sat Feb 07, 2015 7:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: This CPA is advocating snail-mail over e-file for taxes
Replies: 55
Views: 4132

Re: How much was your Tax Refund (or amount DUE)

I have a $10 federal refund and owe $35 state tax. I called it pretty close last year in my federal withholding. State was messed up a bit because of retiree first time investments in taxable funds.
by tomd37
Fri Feb 06, 2015 9:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much was your Tax Refund (or amount DUE)
Replies: 110
Views: 7654

Re: Tax help for new Boglehead

Puna, Dependent upon your income types and amounts, there may be free tax preparation sites available to you such as Tax Counseling for the Elderly (TCE) sponsored by the AARP Foundation and IRS and the Volunteer Income Tax Assistance (VITA) sponsored by the IRS and United Way. I have worked in both...
by tomd37
Fri Feb 06, 2015 10:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax help for new Boglehead
Replies: 4
Views: 439

Re: Replacing a reliable Toyota

Wannaretire, Toyota offers a 4 and 6-cyl SUV in the form of its Venza. It can be had in an AWD version. I own a 4-cyl 2010 Venza and the only two issues I have with it (at the age of 78) is the reduced window visibility when backing and the very, very small backup screen on the dashboard under the r...
by tomd37
Mon Feb 02, 2015 4:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Replacing a reliable Toyota
Replies: 43
Views: 4196

Re: Best ways to save on electricity bill

The on-off switch ! :wink:
by tomd37
Sun Feb 01, 2015 10:32 pm
 
Forum: Personal Consumer Issues
Topic: Best ways to save on electricity bill
Replies: 58
Views: 7182

Re: Need a new vacuum

I have two Miele @ $500 each, one upright (Jazz) and one canister (Titan). Bought both from a local vacuum dealer/repair shop, the first three years ago and the second three months ago. Could not be happier with them. Local dealer will probably match any online price.
by tomd37
Sun Feb 01, 2015 9:33 pm
 
Forum: Personal Consumer Issues
Topic: Need a new vacuum
Replies: 22
Views: 1533

Re: Semi-annual Furnace/AC Inspection

I live in middle Tennessee and have my two units inspected annually; a/c portion in spring and heating portion in fall. For the past 17 years the same company did it and the same highly qualified and thorough technician did all the inspections and any necessary repairs. The owner of the firm sold ou...
by tomd37
Sat Jan 31, 2015 5:32 pm
 
Forum: Personal Consumer Issues
Topic: Semi-annual Furnace/AC Inspection
Replies: 17
Views: 1260
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