Search found 37 matches

by 3spots
Fri May 26, 2017 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Can I really pay no capital gains on $100k?
Replies: 21
Views: 3258

Re: Can I really pay no capital gains on $100k?

Yes I am trying for a similar cap gains strategy this year. State tax will be one tax you probably can't get out of. I do use TurboTax to test the cases. One thing I did last year was reverse some IRA withdrawals within 60 days to help keep other income low. Also if you have some earned income, you...
by 3spots
Fri May 26, 2017 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: Can I really pay no capital gains on $100k?
Replies: 21
Views: 3258

Re: Can I really pay no capital gains on $100k?

With $40,000 of ordinary income, you'd pay 0% federal tax on about $8,000 of the Long Term Capital Gain (LTCG) and 15% on the rest if you're single. On a joint return you'd pay 0% tax on about $57,000 of the LTCG and 15% on the rest. The marginal tax rate is 13.75% on the single return and 6.5% on ...
by 3spots
Fri May 26, 2017 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Can I really pay no capital gains on $100k?
Replies: 21
Views: 3258

Re: Can I really pay no capital gains on $100k?

How much stock would you be selling that has $100k in capital gains? What is the cost basis? You could potentially sell $100k in stocks where $50k was your cost, and $50k in gains would be taxed at 0% You'd need to speak with a tax professional, but I'm guesstimating $100k - $50k basis = $50k of ca...
by 3spots
Fri May 26, 2017 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: Can I really pay no capital gains on $100k?
Replies: 21
Views: 3258

Re: Can I really pay no capital gains on $100k?

This is my first year of retirement and thus likely my lowest income year so I wanted to take advantage of NUA and anything else that made sense. First year of retirement, you say? This may be the best time to start Roth conversions if you have significant savings in tax-deferred accounts and are n...
by 3spots
Thu May 25, 2017 11:37 pm
Forum: Investing - Help with Personal Investments
Topic: Can I really pay no capital gains on $100k?
Replies: 21
Views: 3258

Re: Can I really pay no capital gains on $100k?

I knew it was too good to be true.. lol. Excellent Kitces article, and I will check out TaxCaster, thanks! I am finally getting all my accounts over to Fidelity and understanding AA. Once that is done, figuring out withdrawals and tax mgmt is next to learn! This is my first year of retirement and th...
by 3spots
Thu May 25, 2017 9:22 pm
Forum: Investing - Help with Personal Investments
Topic: Can I really pay no capital gains on $100k?
Replies: 21
Views: 3258

Can I really pay no capital gains on $100k?

For the life of me, this doesn't seem real, so I must be missing something. I will have less than $40,000 income this year. That puts me in the 15% tax bracket. If you are in the 0-15% tax bracket, it says the capital gains tax is zero. Could I really sell my stock with $100K in long term capital ga...
by 3spots
Thu May 25, 2017 9:15 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with divorce settlement
Replies: 23
Views: 2946

Re: What to do with divorce settlement

NUA: you only have one chance to take an NUA and that is when you rollover to an IRA. If you rollover to an IRA without taking an NUA, you have lost the opportunity. The NUA option takes the MS stock out of the retirement account and puts it in a stock account. She would have to pay ordinary income ...
by 3spots
Wed May 24, 2017 10:55 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with divorce settlement
Replies: 23
Views: 2946

Re: What to do with divorce settlement

Not an expert here, but I am finalizing some stock issues post-divorce, too, and this may help. 1. She likely has to notify the custodian of the 401K that the MS stock that is probably in Joint Tenancy needs to be renamed to her as an Individual. Perhaps her ex is doing this? I didn't have to split ...
by 3spots
Wed May 24, 2017 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Division of Assets A/B trust: am I entitled to see POD proof?
Replies: 26
Views: 2257

Re: Division of Assets A/B trust: am I entitled to see POD proof?

Everyone's insight and questions certainly made me look like a star client to my new estate attorney -- thank you. My step-dad, his daughter and I are all co-agents for power of attorney. I hope that means that any major asset move would have required my signature. My attorney agrees that the suppor...
by 3spots
Wed May 24, 2017 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Division of Assets A/B trust: am I entitled to see POD proof?
Replies: 26
Views: 2257

Re: Division of Assets A/B trust: am I entitled to see POD proof?

It sounds to me like the couple set up everything to be split between the kids and Dad is now taking advantage of the personal accounts not being in the trust to block those assets from one or both kids. One the one hand, that could be reasonable, he could live another 7 years and need that money f...
by 3spots
Wed May 24, 2017 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Division of Assets A/B trust: am I entitled to see POD proof?
Replies: 26
Views: 2257

Re: Division of Assets A/B trust: am I entitled to see POD proof?

I hope some of the lawyers will chime in, but I would not sign off without being sure I knew the size of the estate and how it was to be distributed. Without that you cannot know whether you have fulfilled your responsibilities. With an income property there is also the risk that the IRS will not a...
by 3spots
Mon May 22, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Division of Assets A/B trust: am I entitled to see POD proof?
Replies: 26
Views: 2257

Re: Division of Assets A/B trust: am I entitled to see POD proof?

afan wrote:If, as is common, the step dad was trustee of mom's trust and had a durable power of attorney, then he could have perfectly legally transferred money from her trust to the POD accounts.


I''m okay with that! I just want to know that if transfers happened, it was legit!
by 3spots
Mon May 22, 2017 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Division of Assets A/B trust: am I entitled to see POD proof?
Replies: 26
Views: 2257

Re: Division of Assets A/B trust: am I entitled to see POD proof?

Thanks all! Dang, I wrote a long response and poof, I lost it! Good input from everyone, thank you! My parents trust has not been divided yet, we are in that process and my step-dad has submitted a division of assets. My step-dad, his daughter, and myself are all co-trustees and PR for the estate. U...
by 3spots
Thu May 18, 2017 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: How to dispose of household effects (estate sale?)
Replies: 21
Views: 2650

Re: How to dispose of household effects (estate sale?)

FWIW,my mom passed in January and my dad asked that I photo each article of clothing as documentation for the IRS. She had 900 articles of clothing: sweaters, pants, shoes, purses. I dutifully photographed them in groups, and then using the Salvation Army guidelines made a spreadsheet. i didn't eval...
by 3spots
Wed May 17, 2017 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: Division of Assets A/B trust: am I entitled to see POD proof?
Replies: 26
Views: 2257

Re: Division of Assets A/B trust: am I entitled to see POD proof?

Hi everyone - Thanks for the considered feedback, I must not have had it set to receive notifications of postings, or I would have chimed in earlier! I have checked the trust documentation and I, my step-dad, and his daughter are all Personal Representatives and Trustees of the trust. His daughter a...
by 3spots
Fri May 12, 2017 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: Division of Assets A/B trust: am I entitled to see POD proof?
Replies: 26
Views: 2257

Re: Division of Assets A/B trust: am I entitled to see POD proof?

I am a co-trustee with my stepdad and his daughter. I just want to verify the value of assets and that they are divided fairly. The only way I know how to do this is to take the Division of Assets his trust atty submitted and ensure there is a backup statement for the value. As a trustee i believe i...
by 3spots
Fri May 12, 2017 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Division of Assets A/B trust: am I entitled to see POD proof?
Replies: 26
Views: 2257

Division of Assets A/B trust: am I entitled to see POD proof?

Hi guys - We are dividing my mother and stepfather's estate upon her passing. The division of assets lists two bank accounts as separate property "POD" which I presume means payment on death. As a trustee, I assume I am entitled to verify that the $$ amount is matched by a statement and th...
by 3spots
Tue May 02, 2017 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Crazy - but can a CFP get paid on their own assets?
Replies: 15
Views: 1797

Re: Crazy - but can a CFP get paid on their own assets?

Meg77 -- I wish there were a Like Button.

That explains why it is crazy perfectly. I didn't think of the conflicts of interest on being the manager of your own account -- SOX violations in my old world!

3spots
by 3spots
Tue May 02, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Crazy - but can a CFP get paid on their own assets?
Replies: 15
Views: 1797

Re: Crazy - but can a CFP get paid on their own assets?

Can a parent get paid for babysitting their own kids -- love that, lol But seriously, if you worked as a CFP for a company (Schwab?) that compensated you based upon the number of client dollars you were supporting (not with an AUM, but just as a client-facing rep), and you brought over your own doll...
by 3spots
Tue May 02, 2017 10:36 am
Forum: Investing - Help with Personal Investments
Topic: Ready to consolidate at Fidelity -- any gotchas about transfers?
Replies: 23
Views: 2078

Re: Ready to consolidate at Fidelity -- any gotchas about transfers?

Thank you all for your comments and perspectives -- I've got a list now, and will definitely do a pull if I can. One comment about not having one custodian as they would know total assets -- is that a big concern? I figured that as long as the total amount was insured, then there would be no issues ...
by 3spots
Fri Apr 28, 2017 9:28 am
Forum: Investing - Help with Personal Investments
Topic: Ready to consolidate at Fidelity -- any gotchas about transfers?
Replies: 23
Views: 2078

Ready to consolidate at Fidelity -- any gotchas about transfers?

I have $1M in individual stocks and $1M in 401k/IRA that I want to consolidate. The stocks are all at eTrade. The 401k/IRA are at 5 different custodians. Are there any gotchas about making this happen? 1. Is it better to change asset allocation/funds before the transfer or after? 2. Does custodian-t...
by 3spots
Fri Apr 28, 2017 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Co-trustee B trust rights to asset documentation?
Replies: 6
Views: 425

Re: Co-trustee B trust rights to asset documentation?

Thank you for your responses and perspectives -- I think it confirms what I would rather not have to face. "Going into a gunfight without a gun" is how I feel, lol. I like the "good faith" question to the trust atty if they would represent me -- just because I would be curious of...
by 3spots
Thu Apr 27, 2017 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Co-trustee B trust rights to asset documentation?
Replies: 6
Views: 425

Co-trustee B trust rights to asset documentation?

My mother passed away in January from ALZ and we are in the process of funding the B trust. I am a trustee of both A and B trust, as is my mother's husband. He is 93 and very sharp. They were married 45 years, long after I moved out and turned 18. He has a daughter my age from a prior marriage who i...
by 3spots
Wed Apr 26, 2017 2:27 pm
Forum: Investing - Theory, News & General
Topic: Are ER for mutual funds < ER for ETF?
Replies: 11
Views: 1200

Re: Are ER for mutual funds < ER for ETF?

Oldcomputerguy, I can't post any specific funds or indexes, I was really just looking at the Vanguard information that showed a table -- and likely I am reading that table incorrectly -- because it didn't make sense to me. It is on this link (assuming my linking skills work....) about halfway down &...
by 3spots
Tue Apr 25, 2017 12:23 am
Forum: Personal Consumer Issues
Topic: New job and offer - recruiter sent a wrong $$
Replies: 43
Views: 4971

Re: New job and offer - recruiter sent a wrong $$

what Jabberwock said. I have hired many. I want the new person to feel good about coming and some salary/signing $$ increase would always be included, as would ample time to make a good decision -- I don't want you to make it in haste and then quit before you start. )Outside recruiters are motivated...
by 3spots
Tue Apr 25, 2017 12:07 am
Forum: Investing - Theory, News & General
Topic: Are ER for mutual funds < ER for ETF?
Replies: 11
Views: 1200

Re: Are ER for mutual funds < ER for ETF?

I tired using the image tags - no go. I am trying to paste the jpg snip from my personal computer -- I read that some images/URL need to be posted to a public site to work? Or maybe I need my 10th post. Thanks for confirming that I am at least trying the right thing!
by 3spots
Tue Apr 25, 2017 12:05 am
Forum: Investing - Help with Personal Investments
Topic: Why is Real-Estate so Bad?
Replies: 113
Views: 8981

Re: Why is Real-Estate so Bad?

Oldzey, what an enlightening perspective on home ownership, thanks! My pleasure! Home ownership is a lifestyle choice, one that I have chosen (so far) not to partake in. Of course, I'm an expert on home ownership (never having owned a home before). Going along with the home, I'm also an expert on m...
by 3spots
Tue Apr 25, 2017 12:02 am
Forum: Personal Consumer Issues
Topic: Cost of Estate Planning
Replies: 33
Views: 4017

Re: Cost of Estate Planning

In greater Los Angeles area, $2500 for complete package for simple estate <$5M by experienced trust atty. I had a second quote for $2000.
by 3spots
Mon Apr 24, 2017 4:20 pm
Forum: Investing - Theory, News & General
Topic: Are ER for mutual funds < ER for ETF?
Replies: 11
Views: 1200

Re: Are ER for mutual funds < ER for ETF?

Actually, I haven't figured out how to insert an image (jpg). I click Reply/Img and then try to paste the image between the BBCodes and "paste" is greyed out.

I looked at the FAQ and it just says "use Img BBCode.."

What's the secret -- or where is there more help?
by 3spots
Mon Apr 24, 2017 4:06 pm
Forum: Investing - Help with Personal Investments
Topic: Why is Real-Estate so Bad?
Replies: 113
Views: 8981

Re: Why is Real-Estate so Bad?

Oldzey, what an enlightening perspective on home ownership, thanks!
by 3spots
Sun Apr 23, 2017 6:18 pm
Forum: Investing - Help with Personal Investments
Topic: How to migrate to better retirement plan?
Replies: 8
Views: 1030

Re: How to migrate to better retirement plan?

Happy to answer, but I don't know much about my 401K investments yet. I have primarily been head-down working and not paying attention until now. I interviewed Schwab and Fidelity and have follow up next week. I feel l need a local CFP to help me, and I understand I can get their help and still be ...
by 3spots
Sat Apr 22, 2017 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Crazy - but can a CFP get paid on their own assets?
Replies: 15
Views: 1797

Crazy - but can a CFP get paid on their own assets?

Just wondering:

If you are a CFP, can you get hired by a firm, (or start your own), bring over your own assets, and get paid for essentially managing your own money?
by 3spots
Sat Apr 22, 2017 11:49 am
Forum: Investing - Help with Personal Investments
Topic: How to migrate to better retirement plan?
Replies: 8
Views: 1030

Re: How to migrate to better retirement plan?

Thank you, all.

I am definitely learning from reading others' threads. Like drinking from a fire hose.. :D

Still pulling my data together, but I am likely in the 25% tax bracket as I would like to live on $100K+/year. (I still have a mortgage, and I am in expensive So Cal housing.)
by 3spots
Sat Apr 22, 2017 11:37 am
Forum: Investing - Theory, News & General
Topic: Are ER for mutual funds < ER for ETF?
Replies: 11
Views: 1200

Are ER for mutual funds < ER for ETF?

I was reading the cost examples on the Vanguard site and a chart showed relative expense ratios for Active Managed, Index Funds and ETFs. I was surprised to learn that ETF ERs were greater than Index Funds (which I presumed to be mutual funds). Did I interpret that correctly? And if so, why would th...
by 3spots
Tue Apr 18, 2017 9:29 pm
Forum: Personal Consumer Issues
Topic: New phone..any advantages to buying at Costco?
Replies: 24
Views: 3284

Re: New phone..any advantages to buying at Costco?

One plus for Costco is that if you don't like your phone, you can return it without a "restocking fee" You are still obligated to the contractual agreement with the carrier, but you can select another phone without penalty.
by 3spots
Mon Apr 17, 2017 7:16 pm
Forum: Investing - Help with Personal Investments
Topic: How to migrate to better retirement plan?
Replies: 8
Views: 1030

Re: How to migrate to better retirement plan?

Thank you, Rainmaker!

I will be posting as soon as I get it all together. In the meantime I do have meetings scheduled this week with Schwab/TDA/Fidelity to see what they offer. I am willing to pay for advice, just not an ongoing AUM...
by 3spots
Mon Apr 17, 2017 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: How to migrate to better retirement plan?
Replies: 8
Views: 1030

How to migrate to better retirement plan?

Newcomer here, and first post. I read the wiki and know folks need more information to suggest an appropriate retirement plan -- but my question is "how do you get there?" I am 62 and newly retired - not by choice, but I think I can do it. Half my retirement in single stocks and half in co...

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