Search found 1474 matches

by snowman
Sun May 07, 2023 1:47 pm
Forum: Personal Consumer Issues
Topic: Early retired global traveler, best states to domicile from
Replies: 30
Views: 3487

Re: Early retired global traveler, best states to domicile from

Top 3 choices are TX, SD and FL. Since you already are FL resident, there is no benefit I can think of for you to consider other 2. It would make a difference if you were looking to get health insurance on state's exchange, or if you were going to register your vehicle/boat/RV. From your post it appears none of that is the case. I second the recommendation for escapees in FL.
by snowman
Sun May 07, 2023 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: <Money Management - Travel to France>
Replies: 38
Views: 2734

Re: <Money Management - Travel to France>

I agree about Amex, not as widely used as Visa/MC. Quick question for frequent travelers: I used to use Visa/MC with no FTF and 1% cash back for foreign travel. Now that I use Fidelity Visa as my main card with 2% cash back and 1% FTF, is it safe to assume it's a wash? Based purely on math, it appears both options will offer 1% cash back net after FTF. I was just wondering if the fees/cash back calculations are somehow different, and one card is better than the other for foreign travel. Thank you. There are always ways to improve your CC rewards by 1-2% I just stopped caring. I use my fidelity visa so pay 1% foreign fee but get 2% back. If I’m abroad I spend what, $100 per day, 7 days? Twice a year? That’s like $14 per year, which is less ...
by snowman
Sun May 07, 2023 9:46 am
Forum: Personal Finance (Not Investing)
Topic: <Money Management - Travel to France>
Replies: 38
Views: 2734

Re: <Money Management - Travel to France>

I agree about Amex, not as widely used as Visa/MC.

Quick question for frequent travelers: I used to use Visa/MC with no FTF and 1% cash back for foreign travel. Now that I use Fidelity Visa as my main card with 2% cash back and 1% FTF, is it safe to assume it's a wash? Based purely on math, it appears both options will offer 1% cash back net after FTF. I was just wondering if the fees/cash back calculations are somehow different, and one card is better than the other for foreign travel. Thank you.
by snowman
Thu May 04, 2023 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: [Same-day or fast ACH transfers]
Replies: 42
Views: 3301

Re: Savings accounts with fast ACH transfers

lazyday wrote: Thu May 04, 2023 12:53 pm
snowman wrote: Thu May 04, 2023 10:10 am Marcus to Fidelity ACH is same day.
Pushed from Marcus?
Push from Marcus in the morning arrives at Fidelity later same day. Push from Fidelity in the morning arrives at Marcus later same day.

If you want to buy MMF at Fidelity, you can pull from Fidelity and immediately purchase MMF as those funds are available to trade immediately. Then you don't care how long the transfer takes.

As I said I have had many banks, Marcus is consistently super fast, Capitol One is consistently super slow, and the rest is in between.
by snowman
Thu May 04, 2023 10:10 am
Forum: Personal Finance (Not Investing)
Topic: [Same-day or fast ACH transfers]
Replies: 42
Views: 3301

Re: Savings accounts with fast ACH transfers

Marcus to Fidelity ACH is same day. Don't know anything about CDs. Not sure what you are trying to accomplish, but here is my setup that works very well for me. Fidelity is my hub. You can have as many accounts as you want, and you can also link as many external accounts as you want. I have several accounts for different purposes, but one is designated solely to interact with other banks, and one is for bill pay only. With that setup, I can move money around to take advantage of changing interest rates or MMF yields. I don't have to worry if the bank has good bill pay feature or ATM (free at Fidelity). All I care about is interest. I have many banks linked. Security is not an issue since the 'hub" account is just the revolving door wit...
by snowman
Fri Apr 28, 2023 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Dad was just laid off (61 years old)
Replies: 206
Views: 22900

Re: Dad was just laid off (61 years old)

Very thought provoking thread, and I appreciate OP coming back with answers and explanations. In many/most similar threads, OP gives up after being piled upon with facts or math that disagree with their opinion or emotions. There has been good advise given already, but what baffles my mind is the cultural/immigration background that just doesn't make any sense to me. I feel like key piece of info is missing here, and I would really love to get more info from OP. I too came here little over 30 years ago. I had nothing, I owned nothing, I didn't speak the language. Oversees, I grew up hand to mouth, never getting anything from anyone for free. Similar story to millions of other immigrants, counting your dad probably. My first roughly 3 years ...
by snowman
Thu Apr 27, 2023 10:25 am
Forum: Personal Finance (Not Investing)
Topic: About to travel full-time for the next years without any strong ties to a location in the US. Tax-related questions ...
Replies: 59
Views: 4254

Re: About to travel full-time for the next years without any strong ties to a location in the US. Tax-related questions

As someone already said, it's not that complicated, assuming you are not dual citizen, and you tend to stay in any given country for a month or so. You need US domicile (assuming you are US citizen). If all your income is from interest/dividends/stock sales/IRA withdrawals etc. pick any place you want. Not sure how old you are and what your plan for health insurance is - that may play a large role in selecting US domicile. Yes, picking SD is as easy as described, however, even CA maybe a good choice for you taking ALL expenses/taxes/registrations/fees into account. There is no one size fits all. You will get better advise if you provide more details - health insurance coverage, size and type of planned income, assets owned (house, car), ci...
by snowman
Wed Apr 26, 2023 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: College Financial Aid - 529 and FIRE question.
Replies: 39
Views: 3829

Re: College Financial Aid - 529 and FIRE question.

Ah OK. I know many states are into it now just wasn't sure if you meant CO which I am familiar with. It's actually fairly easy in CO to qualify when applying - at least a $1 in Pell like you described, plus questions about home equity and taxable interest/dividends. In subsequent years, there are no additional questions, just FAFSA and income verification form (standard process for most state schools). Additionally, there are many academic scholarships specifically targeted at low income/Pell grant recipients. So that $1 in Pell grant can be worth $16K-$25K/year! The only downside is that if one loses Pell grant eligibility in any of the subsequent years, all that aid goes away for good, there is no coming back to it. Of course, the field o...
by snowman
Wed Apr 26, 2023 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: College Financial Aid - 529 and FIRE question.
Replies: 39
Views: 3829

Re: College Financial Aid - 529 and FIRE question.

queenofthemadhouse wrote: Wed Apr 26, 2023 1:25 pm And again, even if the Pell Grant is $1, the fact that it triggers the wrap around scholarship means it's worth $15K at the state flagship (assuming they don't change that).
Are you talking about University of Colorado - Boulder?
by snowman
Wed Apr 26, 2023 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: About to travel full-time for the next years without any strong ties to a location in the US. Tax-related questions ...
Replies: 59
Views: 4254

Re: About to travel full-time for the next years without any strong ties to a location in the US. Tax-related questions

As someone already said, it's not that complicated, assuming you are not dual citizen, and you tend to stay in any given country for a month or so. You need US domicile (assuming you are US citizen). If all your income is from interest/dividends/stock sales/IRA withdrawals etc. pick any place you want. Not sure how old you are and what your plan for health insurance is - that may play a large role in selecting US domicile. Yes, picking SD is as easy as described, however, even CA maybe a good choice for you taking ALL expenses/taxes/registrations/fees into account. There is no one size fits all. You will get better advise if you provide more details - health insurance coverage, size and type of planned income, assets owned (house, car), cit...
by snowman
Mon Oct 10, 2022 5:12 pm
Forum: Personal Consumer Issues
Topic: Streaming while RVing: Options?
Replies: 12
Views: 1273

Re: Streaming while RVing: Options?

We fulltime in our RV and stream Netflix and Amazon Prime with no issues at all. Have cheap setup that works perfectly: Roku stick and Visible phone with hotspot on. $25/month for unlimited data and hotspot usage. There is the issue of deprioritization, but it happens very infrequently to us, mostly in crowded campgrounds which we try to avoid. Could not be more happy!
by snowman
Fri Jul 22, 2022 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Evansville Teachers Federal Credit Union
Replies: 22
Views: 2367

Re: Evansville Teachers Federal Credit Union

OP, You are on the right track with ETFCU for your personal situation. I have it, as well as LMCU. Had them for years. I only use it to earn 3.3%, so I cannot comment on other banking products/features, not sure why you would want it. It takes a few days to open from what I remember. Once you receive debit card, you are good to go. Meeting requirements is super easy, and website shows you your status on all 4 categories. Of the 4, 2 will be met automatically: digital access (you login and that's it) and estatements. You only need to worry about direct deposit and 15 debit card purchases. Direct deposit is a joke - I schedule $1 transfer for the first of the month from one of my banks. So when I login on the 2nd of the month, 3 of the 4 cate...
by snowman
Thu Apr 28, 2022 7:32 am
Forum: Personal Finance (Not Investing)
Topic: College Decision
Replies: 225
Views: 21246

Re: College Decision

Thanks for update, and congrats on your decision.
by snowman
Tue Apr 26, 2022 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Applying to CS colleges the Boglehead way
Replies: 163
Views: 14703

Re: Applying to CS colleges the Boglehead way

OOS tuition seems to have skyrocketed at most schools in the past few years. Oldest went to U of Minnesota (OOS) and paid 25K/year in tuition. That is 35K/year now ! She had admission at UIUC too, and I recall OOS tuition at UIUC being about 30K/year (50K now !). My oldest one just made it under the wire there - the last year UMN offered free tuition to OOS NMFs. The very next year UMN eliminated that scholarship, and started steady OOS tuition increases. Hard to believe it's $35K now. Yet, our flagship - Colorado - is now at $44K OOS tuition for College of Engineering! And there is intense competition for those OOS full pay slots, mostly from well-off parents in CA, TX and IL. I don't mind as those parents paid for my younger one's educat...
by snowman
Mon Apr 25, 2022 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Applying to CS colleges the Boglehead way
Replies: 163
Views: 14703

Re: Applying to CS colleges the Boglehead way

realclemsongrad wrote: Mon Apr 25, 2022 4:48 pm Why not UT Austin? Austin is booming tech town with plenty of opportunities and a very good computer science department. They even have honors programs such Turing Scholars. As a bonus weather is decent.
For the same reason as Michigan or Wisconsin or Colorado - cost. OP stated that his budget is $40K/year, and COA at UT Austin is over $60K/year for OOS students.
by snowman
Sun Apr 24, 2022 3:59 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7771
Views: 1352175

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

mangorunner wrote: Sun Apr 24, 2022 3:49 pm
snowman wrote: Sun Apr 24, 2022 3:43 pm I left deposit and subsequent bonus sit there for over 90 days, then transferred money to CMA. I didn't close the account, just unchecked it from available to view.
Was your transfer to CMA in all cash (no investments)? Any fee from Fidelity? Thanks! :sharebeer
Correct, $150 cash transfer from account A to account B. Takes about 10 seconds, same as any other transfer at Fidelity, no fee. Why would there be any fee anyway?
by snowman
Sun Apr 24, 2022 3:43 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 7771
Views: 1352175

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

I am thinking of utilizing the Fidelity $100 offer - https://www.fidelity.com/go/starter-pack I already have an individual and joint brokerage account with Fidelity. Is it advisable to open a second individual account just for the offer ? :greedy Can I close the account later ? I read on Reddit that the $100 bonus needs to be kept in the account for 90 days. Yes, that's the easiest bonus out there. Takes about 30 seconds to open, link this new account to one of your outside banks (takes 15 seconds since you are utilizing already established link), then pull money in. Done. I left deposit and subsequent bonus sit there for over 90 days, then transferred money to CMA. I didn't close the account, just unchecked it from available to view.
by snowman
Sun Apr 24, 2022 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Applying to CS colleges the Boglehead way
Replies: 163
Views: 14703

Re: Applying to CS colleges the Boglehead way

Good on you for doing your research early and setting up realistic budget expectations with your kid! I would not give up on NMF status, even with a C. There used to be updated list of schools with NMF scholarships on collegeconfidential. I would apply to one, maybe 2 on that list. Of the schools mentioned so far, I would skip University of Colorado. COA for OOS students is little over $60K, and even with $5K-$10K potential scholarship, that school is outside of your budget. Same goes for UMich. Purdue is a steal if you are in-state, but is still very reasonable for OOS students at $41K. So yes, definitely apply there as well. Minnesota COA for OOS is just above $50K, but if your son manages to be named NMF, he will get automatic $10K NMF p...
by snowman
Sun Apr 24, 2022 9:33 am
Forum: Personal Finance (Not Investing)
Topic: College Decision
Replies: 225
Views: 21246

Re: College Decision

I'm not trying to debate whether GW is the best school in DC, or even the best among the other choices. Let the girl live her dream and take out the loans if she thinks it worth it. I happen to agree with her. Again, nobody is stopping her. I'm not sure why you keep saying she can take out loans on her own if she thinks it's worth it, parents have to co-sign. Parents are apparently unwilling to cosign because "WE" don't think its worth it, and don't want to allow her to take on the additional debt with the (seemingly remote) potential for default. Frankly, at their level of wealth, above, I wouldn't be that worried about it and would just gift her the additional $88K she needs from the $350K emergency fund. Its not like we're tal...
by snowman
Thu Apr 21, 2022 5:44 pm
Forum: Personal Consumer Issues
Topic: Dual citizenship?
Replies: 76
Views: 6326

Re: Dual citizenship?

I immigrated on a German passport. When the time came for me to be naturalized, I had to renounce any and all other citizenships or allegiances, in writing and taking an oath. But based on what I am reading here, I guess that I could now accept citizenship in another country, if I were to qualify for such, without losing my US citizenship (unless I renounce it). Yeah, that's how the system works. You keep your German passport plus you get American passport. [snip] You can also apply for another citizenship if you wish. While that’s right from a US perspective (and for RudyS going out and getting a new citizenship now), I don’t think it’s quite right as phrased, because as I understand it, Germany has not completely eliminated restrictions ...
by snowman
Thu Apr 21, 2022 5:10 pm
Forum: Personal Investments
Topic: Is it prudent to ride things out in VBTLX?
Replies: 107
Views: 12005

Re: Is it prudent to ride things out in VBTLX?

Having lost so much already... .... But I'm sure you also made money in equities! It reminds of the (inexact) quote, "being diversified means at least one part of your portfolio is always doing terribly". Well, not necessarily. Looking at yesterday's closing prices, YTD: VTI -7.0%, VXUS -7.6%, BND -9.0%. I think that's what people are looking at, and that's where their concern is coming from. All 3 parts are doing badly, bonds being the worst of the 3. We are not making money in equities, just losing slightly less than in bonds. To the OP - stay the course, this too shall pass. I have never seen a year like this before, but it was somewhat expected. By the end of 2021, every asset class was priced to perfection - houses, stocks, ...
by snowman
Thu Apr 21, 2022 4:42 pm
Forum: Personal Consumer Issues
Topic: Dual citizenship?
Replies: 76
Views: 6326

Re: Dual citizenship?

RudyS wrote: Thu Apr 21, 2022 3:51 pm I immigrated on a German passport. When the time came for me to be naturalized, I had to renounce any and all other citizenships or allegiances, in writing and taking an oath. But based on what I am reading here, I guess that I could now accept citizenship in another country, if I were to qualify for such, without losing my US citizenship (unless I renounce it).
Yeah, that's how the system works. You keep your German passport plus you get American passport. You enter and exit US with your American passport, once abroad nobody cares. I presume you enter EU on your German passport. You can use either passport in third country. You can also apply for another citizenship if you wish.
by snowman
Thu Apr 21, 2022 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA Income Questions
Replies: 55
Views: 4753

Re: FAFSA Income Questions

One extremely helpful tool not mentioned yet is HELOC - make sure you have one available! As you try to keep your income at a certain level (remember, you are threading the needle here), it will allow you to supplement your living expenses above AGI. That "income" will never show on FAFSA or your tax return. Thanks so much for the response. I want to focus on the part above as I really like this suggestion. I'm wondering if I could do something like this: During my mid-50s, use up our taxable savings and perhaps take out some Roth contributions and essentially "stock the pantry" for a couple of years. Just brainstorming but this could be things like making a series of mortgage payments in advance, doing house maintenanc...
by snowman
Thu Apr 21, 2022 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: 50% Marginal Tax Rate in 2021 when ACA income limit is exceeded, not 8.5% confused
Replies: 54
Views: 4681

Re: 50% Marginal Tax Rate in 2021 when ACA income limit is exceeded, not 8.5% confused

I have to admit that I find OP's posts very confusing. For simplicity sake, I always recommend people use both tools - subsidy calculator, as well as tax software.

The subsidy calculator https://www.kff.org/interactive/subsidy-calculator/ will spit out PTC if applicable. Really quick and easy to use. OP should definitely try it.

Tax software ties that with all other income, deductions, credits etc. Certain assumptions will have to be made when modelling with tax software, like APTC that goes into made-up 1095-A. You increase APTC, you increase taxes due, and vice versa (with certain exceptions as already discussed).
by snowman
Thu Apr 21, 2022 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: College Decision
Replies: 225
Views: 21246

Re: College Decision

As Dave Ramsey likes to say - "we don't have a student loan crisis in this country, we have parental crisis". I hope for OP's sake he is going to be a good parent. His daughter will thank him later. I’d argue we have a huge issue with the massive inflation in costs in the education sector partially driven by the fact that the US government backs loans that no bank would offer. Tuition has tripled or quadrupled in real terms since the eighties and State U even at in state rates is not nearly as attractive as it once was. I think you’d have a hard time finding much data to support your arguments (although I agree this is a view that many people have). Net costs in real terms have been relatively stable for the past ten years or so ...
by snowman
Thu Apr 21, 2022 11:28 am
Forum: Personal Finance (Not Investing)
Topic: FAFSA Income Questions
Replies: 55
Views: 4753

Re: FAFSA Income Questions

You've got great suggestions so far. I am confident you will be well prepared when the time comes. I would be watching for any changes in the coming years. In my experience (filed FAFSA 7 years in a row), most changes happen at the state level. Lots of states have special grants, scholarships, discounts etc. for their residents, and those tend to change more often compared to FAFSA. If you plan to remain in CA, stay on top of those changes. One extremely helpful tool not mentioned yet is HELOC - make sure you have one available! As you try to keep your income at a certain level (remember, you are threading the needle here), it will allow you to supplement your living expenses above AGI. That "income" will never show on FAFSA or yo...
by snowman
Tue Apr 19, 2022 8:49 am
Forum: Personal Finance (Not Investing)
Topic: College Decision
Replies: 225
Views: 21246

Re: College Decision

As Dave Ramsey likes to say - "we don't have a student loan crisis in this country, we have parental crisis". I hope for OP's sake he is going to be a good parent. His daughter will thank him later.
by snowman
Sun Apr 17, 2022 2:27 pm
Forum: Personal Consumer Issues
Topic: Daughter visiting from UK hit with Uninsured Hospitalization for $62K: Any suggestions to negotiate bills down?
Replies: 132
Views: 15321

Re: Daughter visiting from UK hit with Uninsured Hospitalization for $62K: Any suggestions to negotiate bills down?

randomguy wrote: Sun Apr 17, 2022 12:10 pm I don't think the OP ever said they were the point of contact. They said they want to help the daughter out with a course of action. Everyone has then been assuming Dad is doing all the work rather than advising the daughter. I also don't think the daughters financial situation has been said other than her not owning some property. If she is making 200k/year or 20k/year does change the situation a bit.
I believe OP said earlier that he provided contact info to the hospital, and that he already received phone call. My apologies if I misunderstood.
by snowman
Sun Apr 17, 2022 11:18 am
Forum: Personal Consumer Issues
Topic: Daughter visiting from UK hit with Uninsured Hospitalization for $62K: Any suggestions to negotiate bills down?
Replies: 132
Views: 15321

Re: Daughter visiting from UK hit with Uninsured Hospitalization for $62K: Any suggestions to negotiate bills down?

I read the whole thread, but I may have missed the key point: how and when did OP become the point of contact for hospital billing? Was there some sort of verbal agreement to pay the bill between OP and the hospital as a condition of treatment? I apologize if it was stated somewhere already. Latest post from OP is asking for best negotiating tactic. Assuming no agreement was made, and assuming OP's contact info indicates he is only a relative of the patient admitted for treatment, not the responsible party, the first thing I would do is diverge all billing communications to my daughter's address and phone number in the UK. She is the patient, not the OP. Then, I would advise her to wait and just collect all of the written communication. Tim...
by snowman
Sat Apr 16, 2022 2:45 pm
Forum: Personal Investments
Topic: Using Heloc to buy Ibonds (check my math)
Replies: 25
Views: 4290

Re: Using Heloc to buy Ibonds (check my math)

I would do it. I would also second another poster's suggestion to buy $40K between you and your spouse. Calculate your profit using #Cruncher's math, not yours. Your profit will be exempt from state taxes so that could be additional benefit depending on where you are.
by snowman
Fri Apr 15, 2022 11:38 am
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1241527

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

1 Comment / 1 Question Comment - I had been avoiding IBonds and the Treasury Direct website for ages because I heard horror stories and didn't want to add complexity to my financial life by having another account. I finally gave in and opened an account and funded it with 10k this week. It couldn't have been simpler, so I'm kicking myself for waiting. If you are on the fence, I say go for it. Question - If I want to set up an account for my wife under her SSN, Does it need to be a total separate account, or can I somehow add her to my account just under her SSN? Does each SSN need it's own account? She needs her own account. If your wife is like mine - i.e. completely uninterested in financial management - then just open new account in her...
by snowman
Fri Apr 15, 2022 11:23 am
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1241527

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

But are people getting nastygrams from TD for multiple gifts in the gift box? I assume that would happen if I tried to make multiple purchases above $10,000 for myself. The question is what do they do if anything with gift box activity that exceeds $10,000 for anyone recipient? My impression from reading much of this thread is that TD lets it slide. My wife and I have our multiple gifts to one another scheduled for later this month....so we will just coast into 2024. Back to the gifts per person language....Has anyone ever seen the process through to its conclusion of actually delivering gifts in different years to the same person when the original purchase of the gifts, purchased in one year, exceeded $10,000? The reasons I ask is because...
by snowman
Thu Apr 14, 2022 7:32 pm
Forum: Personal Investments
Topic: Roth 5 year holding period (>59.5)
Replies: 11
Views: 1490

Re: Roth 5 year holding period (>59.5)

OP didn't say when he opened his first Roth IRA. Assuming it's been open for more than 5 years, he can access funds immediately after conversion, no waiting necessary. Would that be correct assumption looking at the chart above?
by snowman
Thu Apr 14, 2022 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: 50% Marginal Tax Rate in 2021 when ACA income limit is exceeded, not 8.5% confused
Replies: 54
Views: 4681

Re: 50% Marginal Tax Rate in 2021 when ACA income limit is exceeded, not 8.5% confused

As someone already pointed out, your answer is in the form 8962. What is likely happening is that you are taking larger APTC compared to MAGI, and your excess APTC repayment may be limited (look at lines 24-29). There are 3 repayment limits tied to FPL levels. If you go just above the next level, repayment limit goes up and so do your taxes. I would strongly recommend using realistic numbers for 1095-A scenarios. I would also think that once you move above 400% FPL, your additional MAGI 10K increases will be more closely aligned with the number you are looking for (try 83K and 93K, for example). However, as has been pointed out, the numbers will differ based on mix of income you have - SS, dividends, capital gains, IRA conversions etc. It's...
by snowman
Thu Apr 14, 2022 10:16 am
Forum: Investing - Theory, News & General
Topic: I Bonds Mega Thread (I Bond Heads Rejoice!)
Replies: 6658
Views: 1241527

Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Just discovered the Treasury Direct Gift Box this morning. Wife and I trying to figure out how far out to extend $10,000 gifts to one another to take advantage of these rates (8.37 blended for bonds bought before end of April). 2023 and even 2024 seems like a no brainer. Anyone going beyond that? My wife and I have just done gift purchases for each other for 2023 and 2024 and decided to stop there for now. We are undecided on make gifts purchases by the end of the month for 2025 delivery. We funded gift boxes for each other for 2023 and 2024. I'm tempted to go for it for the 2025 year as well to capture the guaranteed return. DW would rather keep the cash at the "HYSA" to preserve liquidity. I wonder how angry she would be if an ...
by snowman
Thu Apr 07, 2022 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Tastyworks 1099
Replies: 63
Views: 6148

Re: Tastyworks 1099

veggivet wrote: Thu Apr 07, 2022 8:17 am I asked my CPA about this yesterday and he said the bonus would be recognized as income in the year it was available for withdrawal. He also said a 1099 'may or may not' be issued, since the amount is less than $600.
Thanks for posting this.
by snowman
Tue Apr 05, 2022 9:20 am
Forum: Personal Consumer Issues
Topic: College Selection - Which one
Replies: 79
Views: 7496

Re: College Selection - Which one

We have visited all schools on the list. She has been waitlisted at a Georgia Tech. We are from Delaware. She also has admission to University of Maryland. She is also considering Computer Engineering not computer science. She was ok with all campuses. She is a kid that can adapt and mold herself to any environment. She loves tennis and that added a plus to Orlando. She is interested in graduate school. I also live in Delaware and my daughter recently graduated from UD. I feel like anyone would be half-crazy to send their kid out of state if UD is an option since the value is impossible to beat, plus it’s one of the top rated major state universities in the east. My daughter absolutely loved her time there, and is so glad she didn’t attend...
by snowman
Mon Apr 04, 2022 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Tastyworks 1099
Replies: 63
Views: 6148

Re: Tastyworks 1099

...last thing I want is to declare it in 2021, and then receive 1099 from TW in 2022, in which case I am looking at amending 2 tax returns with all the back and forth. I am thinking to not add it to 2021 income, and just wait till this time next year. If nothing comes, add it to 2022 MISC income. What do you guys think? Reasonable strategy? Seems perfectly reasonable to me. Guarantee others will disagree. It's reasonable. I also think it's reasonable to add it to 2021 income :) For us, adding it to 2021 is the most reasonable thing to do, especially since our tax rate in 2022 is going to be higher than in 2021. But I do not want to pay taxes twice, or try to amend 2 intertwined tax returns in the future. So is my strategy reasonable in tha...
by snowman
Mon Apr 04, 2022 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Tastyworks 1099
Replies: 63
Views: 6148

Re: Tastyworks 1099

yobery wrote: Mon Apr 04, 2022 4:43 pm
snowman wrote: Mon Apr 04, 2022 4:38 pm ...last thing I want is to declare it in 2021, and then receive 1099 from TW in 2022, in which case I am looking at amending 2 tax returns with all the back and forth.

I am thinking to not add it to 2021 income, and just wait till this time next year. If nothing comes, add it to 2022 MISC income. What do you guys think? Reasonable strategy?
Seems perfectly reasonable to me. Guarantee others will disagree.
Thanks for quick response, yobery. Your answer reminds me why I got a sense there was no consensus. Let's see if other members chime in.
by snowman
Mon Apr 04, 2022 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Tastyworks 1099
Replies: 63
Views: 6148

Re: Tastyworks 1099

I have postponed filing taxes hoping 1099 will magically appear in online account. It didn't. What did people that received the $500 bonus in Q3 2021 but couldn't touch it till 2022 end up doing? I read the thread but missed any kind of consensus. Problem I have is that 2021 is the last year we have dependent on our return, and it's little complicated in that it involves back and forth between the 2 returns due to ACA, AOTC and kiddie tax. I wanted to declare income in 2021 like any other bonus, but the last thing I want is to declare it in 2021, and then receive 1099 from TW in 2022, in which case I am looking at amending 2 tax returns with all the back and forth. I am thinking to not add it to 2021 income, and just wait till this time nex...
by snowman
Sun Apr 03, 2022 12:28 pm
Forum: Personal Consumer Issues
Topic: College Selection - Which one
Replies: 79
Views: 7496

Re: College Selection - Which one

I knew when I saw colleges listed with expected costs that your daughter is NMF. Thanks for confirming that and congratulations to you and your daughter! Unless something changed in the last 4 years, UCF will fully fund cost of attendance for your daughter, which means she is going to make money while going to school (and will have taxable scholarships on her tax return). The only money out of your pocket will be travel to/from home, but even that will be optional as her scholarship will cover that (she will get a refund into her checking account in the amount of full COA minus T&F and R&B). It's an outstanding deal! Just remember, the State of FL expanded that scholarship to OOS students about 4-5 years ago for one reason - to attr...
by snowman
Tue Mar 29, 2022 10:53 am
Forum: Personal Investments
Topic: Have I been inefficient with my cash holdings?
Replies: 34
Views: 3915

Re: Have I been inefficient with my cash holdings?

What we have: $30K in HYCA earning 3% $40K in HYCA earning 3.3% Where are you getting those rates? LMCU and ETFCU: lmcu.org etfcu.org I am surprised more people here don't take advantage of it, it's been going on for years. OTOH, most people here seem to be wealthy, so jumping through some hoops to get these rates is too much trouble to be worth it. To each their own. LMCU has a limit of $15K/account, hence $30K for married couple. ETFCU has a limit of $20K/account, hence $40K per married couple. Hoops are miniscule - monthly ACH transfer of $1 into the account counts as direct deposit. You have to make 10 debit card transactions at LMCU at 15 at ETFCU. We do Amazon reloads of $.50 each, so it takes me about 5 minutes per account per month...
by snowman
Tue Mar 29, 2022 9:31 am
Forum: Personal Investments
Topic: Have I been inefficient with my cash holdings?
Replies: 34
Views: 3915

Re: Have I been inefficient with my cash holdings?

What we have: $30K in HYCA earning 3% $40K in HYCA earning 3.3% Where are you getting those rates? LMCU and ETFCU: lmcu.org etfcu.org I am surprised more people here don't take advantage of it, it's been going on for years. OTOH, most people here seem to be wealthy, so jumping through some hoops to get these rates is too much trouble to be worth it. To each their own. LMCU has a limit of $15K/account, hence $30K for married couple. ETFCU has a limit of $20K/account, hence $40K per married couple. Hoops are miniscule - monthly ACH transfer of $1 into the account counts as direct deposit. You have to make 10 debit card transactions at LMCU at 15 at ETFCU. We do Amazon reloads of $.50 each, so it takes me about 5 minutes per account per month...
by snowman
Mon Mar 28, 2022 12:21 pm
Forum: Personal Investments
Topic: Have I been inefficient with my cash holdings?
Replies: 34
Views: 3915

Re: Have I been inefficient with my cash holdings?

What we have:

$30K in HYCA earning 3%
$40K in HYCA earning 3.3%

Also purchased I Bond gifts to each other. These are not 100% liquid (12 month minimum holding period, longer if purchasing multiple $10K gifts), but something to consider.
by snowman
Sat Mar 19, 2022 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: 1095-A -> 8962, question about part I, line 1 - tax family size
Replies: 8
Views: 956

Re: 1095-A -> 8962, question about part I, line 1 - tax family size

Q1 - correct number is 3
Q2 - it's a mistake, 1095-A is incorrect. When you receive 1095-A from your exchange, instructions say to contact them if you notice any mistake. They need to correct it before filing tax return.

Hope this helps.
by snowman
Sat Mar 19, 2022 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Key Bank $500 Bonus
Replies: 30
Views: 4033

Re: Key Bank $500 Bonus

candb wrote: Sat Mar 19, 2022 9:20 am
snowman wrote: Fri Mar 18, 2022 7:23 pm Link please? I have done many Key Bank bonuses in the past, never a problem. I don't see anything available now.

Thanks.
There's no link. This offer came in the regular mail.
Thanks for reply, appreciate it.
by snowman
Sat Mar 19, 2022 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Key Bank $500 Bonus
Replies: 30
Views: 4033

Re: Key Bank $500 Bonus

Ron Ronnerson wrote: Sat Mar 19, 2022 10:39 am Seems like a great offer. Does anyone know if this is available nationally or just in the states that they have a branch?
Click on the link, then click on checking account you want to open, and the following appears:

Applying online is right for you if you’re:
18 years old or older
A U.S. citizen
A resident of Alaska, Colorado, Connecticut, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont, or Washington
Opening an individual account
by snowman
Sat Mar 19, 2022 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Key Bank $500 Bonus
Replies: 30
Views: 4033

Re: Key Bank $500 Bonus

Soon2BXProgrammer wrote: Sat Mar 19, 2022 10:10 am https://key.com/e2get500
Thanks!!!
by snowman
Fri Mar 18, 2022 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Key Bank $500 Bonus
Replies: 30
Views: 4033

Re: Key Bank $500 Bonus

Link please? I have done many Key Bank bonuses in the past, never a problem. I don't see anything available now.

Thanks.
by snowman
Thu Mar 17, 2022 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Accepted an offer and another company made a better offer the next day
Replies: 149
Views: 12683

Re: Accepted an offer and another company made a better offer the next day

You just never know what future holds. Be honest with your boss, I would even go as far as telling him not to bother with counter offer, that both options are much better than status quo. He might even offer his advise on which option is better for you professionally. If he is out of office at 2 week mark, talk before then. Congrats and good luck! If I tell him, he might tell others. Of course maybe that is not all bad? Maybe they all end up looking and the company decides to pay more competitively. I was never interested in my boss's job because the pay increase never seemed to be worth it for the amount of hassle involved. Thanks! [/quote] Don't worry about who says what. Focus on what's important and what's within your control. People a...