Search found 22 matches

by yzhang12
Sat May 02, 2015 11:30 am
Forum: Investing - Help with Personal Investments
Topic: Annual Portfolio Update
Replies: 2
Views: 269

Re: Annual Portfolio Update

Phenomenal job paying down debt! You can open your own IRA, unless your income is above the exclusion limits. Is there any other type of retirement account through the fellowship such as a 403b or ? The 18k 401k max is employee contribution only, employer match can raise the amount as high as 53 k ...
by yzhang12
Sat May 02, 2015 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Annual Portfolio Update
Replies: 2
Views: 269

Annual Portfolio Update

Emergency funds: Yes, 6+ months of mandatory expenses. Debt: 2 mortgages (2.875% ARM on $150,000 [$11,500 remaining] and 4.125% 30 year fixed on $205000 [$193,500 remaining]) Tax Filing Status: Single Tax Rate: 28% Federal, 5-5.25% State Age: 27/28 Desired Asset allocation: 93% stocks / 7% bonds Des...
by yzhang12
Tue Apr 21, 2015 9:59 am
Forum: Investing - Help with Personal Investments
Topic: I-Savings Bond vs BND
Replies: 2
Views: 416

I-Savings Bond vs BND

My asset allocation is a little too heavy in stocks and I'm out of tax-advantaged space. I don't want to put bonds in my taxable accounts due to its tax-inefficiency. Are there any disadvantages to buying I-Savings Bonds to increase my bond asset allocation versus rebalancing my tax-advantaged accou...
by yzhang12
Sun Feb 22, 2015 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Safeharbor and Estimated Taxes + Unexpected Capital Gains
Replies: 3
Views: 561

Re: Safeharbor and Estimated Taxes + Unexpected Capital Gain

first, don't panic......the penalty (interest actually) is assessed on your shortfall of the safe harbor....in your case, you fell short of of 2013 by $500 so the interest penalty will be something like 3% on the $500 for some period of time so < $15. A few things though......the tax they are talki...
by yzhang12
Sun Feb 22, 2015 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Safeharbor and Estimated Taxes + Unexpected Capital Gains
Replies: 3
Views: 561

Safeharbor and Estimated Taxes + Unexpected Capital Gains

Hello all, IRS exempts taxpayers from any underpayment penalties if either the taxpayer paid 90% of their 2014 taxes owed, or 100% of the previous year (2013's) taxes owed (exception for those with $150,000 AGI, but it doesn't apply in this case): In general, you may owe a penalty for 2014 if the to...
by yzhang12
Thu Feb 12, 2015 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay Fica for Employee [who is a parent]
Replies: 11
Views: 815

Re: How to pay Fica for Employee

Are you incorporated (e.g., C-CORP, S-CORP) and using that vehicle to hire your parents? If not, I do not believe the wages are reported at all (FICA wages or income wages) since you are not deducting it as a business expense. This is incorrect. If you have an employee, you generally have to report...
by yzhang12
Wed Feb 11, 2015 11:17 am
Forum: Personal Finance (Not Investing)
Topic: How to pay Fica for Employee [who is a parent]
Replies: 11
Views: 815

Re: How to pay Fica for Employee

Are you incorporated (e.g., C-CORP, S-CORP) and using that vehicle to hire your parents? If not, I do not believe the wages are reported at all (FICA wages or income wages) since you are not deducting it as a business expense. I don't know the nature of what your parent does but as a household emplo...
by yzhang12
Tue Jan 27, 2015 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: W-4 Exempt and Estimated Taxes
Replies: 3
Views: 336

W-4 Exempt and Estimated Taxes

Are there any negative consequences to claiming exempt on your W-4 and making quarterly estimated tax payments of 100-110% (depending) of last years tax liability (to avoid penalties/interest)?
by yzhang12
Thu Jan 08, 2015 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: 3-member LLC with a solo 401K?
Replies: 16
Views: 2132

Re: 3-member LLC with a solo 401K?

He can decline it. Just get it in writing or something. You just can't legally deny a partner the opportunity to participate. I use Fidelity so I can speak to my interpretation. I also have a LLC electing SCORP status with 2 other partners (50/25/25 stakes) You can do this so long as you meet the ad...
by yzhang12
Thu Jan 08, 2015 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: 3-member LLC with a solo 401K?
Replies: 16
Views: 2132

Re: 3-member LLC with a solo 401K?

I use Fidelity so I can speak to my interpretation. I also have a LLC electing SCORP status with 2 other partners (50/25/25 stakes) You can do this so long as you meet the adoption agreements definition of ownership: IRS 401(a): (3) Owner-employee The term “owner-employee” means an employee who— (A)...
by yzhang12
Thu Dec 18, 2014 12:36 pm
Forum: Investing - Theory, News & General
Topic: Value/Growth Index Funds?
Replies: 2
Views: 852

Value/Growth Index Funds?

What role would a US domestic value or growth index fund play the tax-deferred space of portfolio? Would it make much of a difference to have a US total market fund in lieu of a value/growth fund? I have some left over Vanguard Growth Index Fund Admiral Shares (VIGAX) and Vanguard Value Index Fund A...
by yzhang12
Mon Dec 01, 2014 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Health Premiums - can count as wages for solo 401k?
Replies: 11
Views: 1157

Re: S Corp Health Premiums - can count as wages for solo 401

The health insurance premiums are included in W2 Box 1, so I would think that they do count as wages for calculating the 401k contribution amount. But, I am not an accountant. Hoping one of the experts here will chime in. Did you ask Vanguard? What did they say? I called them and they said taxable ...
by yzhang12
Mon Dec 01, 2014 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Health Premiums - can count as wages for solo 401k?
Replies: 11
Views: 1157

Re: S Corp Health Premiums - can count as wages for solo 401

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/S-Corporation-Compensation-and-Medical-Insurance-Issues I believe the answer is no. Anything in Box 1 of your W-2 is considered wages but only for income tax purposes. At the same time, insurance premiums are not included as part of ...
by yzhang12
Sun Nov 23, 2014 1:51 pm
Forum: Investing - Help with Personal Investments
Topic: After-tax Solo 401k Custodians
Replies: 7
Views: 738

Re: After-tax Solo 401k Custodians

Sorry if I was not clear. This is my first year on Solo 401k and wouldnt be making in 6 digits. Thus, I can only contribute 17.5K and around 15 to 18K max based on salary that I take. So that totals a max of 35K out of 52k limit. To make the remaining limit, I can only do it through after tax and c...
by yzhang12
Fri Nov 21, 2014 10:42 am
Forum: Investing - Help with Personal Investments
Topic: After-tax Solo 401k Custodians
Replies: 7
Views: 738

After-tax Solo 401k Custodians

I'm not having much luck finding a solo/individual 401k custodian that permits after-tax (non-ROTH) 401k contributions and in service conversions. Do any exist today or is this only offered to large corporations and/or legacy plans?
by yzhang12
Wed Jul 23, 2014 8:09 pm
Forum: Investing - Help with Personal Investments
Topic: HSA Contribution and FICA taxes for S-Corp owner
Replies: 13
Views: 4634

Re: HSA Contribution and FICA taxes for S-Corp owner

You can do a pre-tax payroll HSA deduction and to take advantage of a FICA deduction; the 2% shareholder rule is only against SCORPs contributing and therefore treating it as a business expense. It doesn't prevent the employee from contributing via pre-tax payroll. I take this back..it is not accur...
by yzhang12
Mon May 05, 2014 1:31 pm
Forum: Investing - Help with Personal Investments
Topic: Annual Portfolio Update
Replies: 2
Views: 544

Annual Portfolio Update

Emergency funds: Yes, 6+ months of mandatory expenses. Debt: 2 mortgages (2.875% ARM on $150,000 [$140,100 remaining] and 4.125% 30 year fixed on $205000 [$197,800 remaining]) Tax Filing Status: Single Tax Rate: 28% Federal, 5-5.25% State of Residence: Age: 27 Desired Asset allocation: 93% stocks / ...
by yzhang12
Tue Mar 25, 2014 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: HSA Contribution and FICA taxes for S-Corp owner
Replies: 13
Views: 4634

Re: HSA Contribution and FICA taxes for S-Corp owner

You can do a pre-tax payroll HSA deduction and to take advantage of a FICA deduction; the 2% shareholder rule is only against SCORPs contributing and therefore treating it as a business expense. It doesn't prevent the employee from contributing via pre-tax payroll.
by yzhang12
Thu Jan 02, 2014 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Contribute to HSA without HDHP?
Replies: 4
Views: 578

Contribute to HSA without HDHP?

I have an account with HSABank established when I was with a previous employer who offered a HDHP. I am no longer covered under a HDHP; however, I noticed that I can still make a contribution to my HSABank account. What consequences would I face if I were to make a contribution without being covered...
by yzhang12
Thu Feb 14, 2013 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: 25 y/o Re-evaluating investment positions
Replies: 1
Views: 484

25 y/o Re-evaluating investment positions

Emergency funds: Yes Debt: Aside from 2 mortgages (2.875% ARM on $150,000 and 4.125% 30 year fixed on $205000 - looking to refinance this to around 3%), I have no debts. Tax Filing Status: Single Tax Rate: 28% Federal, 5 or 5.25% MD State of Residence: MD Age: 25 Desired Asset allocation: 90% stocks...
by yzhang12
Wed Feb 13, 2013 10:52 pm
Forum: Investing - Help with Personal Investments
Topic: 401k Roll-In and Backdoor ROTH IRA Timing
Replies: 2
Views: 834

401k Roll-In and Backdoor ROTH IRA Timing

I've made a backdoor of $5500 ROTH IRA contribution for 2013 and I have a ($30,000) tIRA that resulted from a rollover from an old employer (I have not rolled this into my employer's 401k yet..so I've made the backdoor ROTH contribution while my basis included the tIRA). Does timing of the ROTH IRA ...

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