Search found 73 matches

by Ace1
Sat Nov 26, 2016 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Reducing federal withholding
Replies: 9
Views: 956

Re: Reducing federal withholding

No disrespect intended .... just a point of clarification...
It's actually Publication 15, which is also known as Circular E
by Ace1
Sat Nov 26, 2016 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Reducing federal withholding
Replies: 9
Views: 956

Re: Reducing federal withholding

Should be no issues.
A number of years ago, there was a requirement to report allowances greater than 9,
but that was eliminated. You can claim 99 if you want to.
I increased my fed allowances to 30 prior to retiring because it fit my situation.
by Ace1
Thu Oct 27, 2016 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Probate Frustrations: Father's Penny Stock
Replies: 14
Views: 1825

Re: Probate Frustrations: Father's Penny Stock

Leigh I am administering an estate here in Ohio that is larger than the "gross" value of your estate. The law in Ohio is VERY clear as to executor fee calculation. Gross value of inventory (assets) plus/minus net income (interest, divs, cap gains/losses). 1st 100,000 x 4% Next 300,000 x 3%...
by Ace1
Wed Oct 26, 2016 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Probate Frustrations: Father's Penny Stock
Replies: 14
Views: 1825

Re: Probate Frustrations: Father's Penny Stock

Check with the court... depending on the state, it is possible the date of death valuation is adjusted by the net income or loss incurred by the estate assets subsequent to the date of death valuations and the executor fees are based on the reduced valuation. Further, 7% of the gross estate seems hi...
by Ace1
Tue Oct 25, 2016 10:23 pm
Forum: Investing - Help with Personal Investments
Topic: Windfall and New to Investing
Replies: 11
Views: 1156

Re: Windfall and New to Investing

Aardvark, Regarding the coins, the most important element with collectible coins is condition. NEVER clean a coin and always handle it by the edges if it is not in a holder. I would recommend interviewing at least 2 reputable coin dealers in your area. If you inherited the collection, perhaps an inv...
by Ace1
Mon Sep 26, 2016 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes [withholding vs. estimated payments]
Replies: 20
Views: 1570

Re: Taxes [withholding vs. estimated payments]

I believe that estimated payments are due Apr 15, Jun 15, Sep 15, and Jan 15. (Coincides with long form calculations on the 2210 underpayment schedule -3, 5, 8, 12 months.) Depending on employer, withholding taxes from paychecks are remitted either weekly or monthly, and reported quarterly. It is po...
by Ace1
Thu Sep 01, 2016 10:27 pm
Forum: Investing - Theory, News & General
Topic: Social Security Consulting?
Replies: 26
Views: 2441

Re: Social Security Consulting?

Deleted
by Ace1
Thu Sep 01, 2016 9:34 pm
Forum: Investing - Help with Personal Investments
Topic: HSA Question - New Employer and Now Paying Monthly Fees
Replies: 3
Views: 368

Re: HSA Question - New Employer and Now Paying Monthly Fees

I don't believe TDA offers an HSA account.
I suspect you will need to keep the HSA bank account.
by Ace1
Wed Aug 31, 2016 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: IRA--Joint Acct---Tax loss
Replies: 7
Views: 535

Re: IRA--Joint Acct---Tax loss

Not sure that you can do this ... I believe the distribution from tIRA should be cash, not stock, etc. Unless it is a non deductible IRA, you do not have any basis in the IRA. The only way a loss in a tIRA can be written off, is if it is a non deductible ( you have basis) IRA, and you are making a f...
by Ace1
Sat Aug 27, 2016 10:03 pm
Forum: Personal Consumer Issues
Topic: What is your system for dealing with coins?
Replies: 123
Views: 8182

Re: What is your system for dealing with coins?

Coins go into a sorting bank on the dresser, get rolled and deposited when sufficient. Canada eliminated pennies several years ago, and round to nearest nickel when making change on purchases. However Canada also eliminated paper $1 and $2 bills back in the 80's and replaced them with coins .. a hea...
by Ace1
Mon Aug 15, 2016 12:29 pm
Forum: Investing - Help with Personal Investments
Topic: Living in US - What to do with CAD / Canadian $ inheritance?
Replies: 24
Views: 1559

Re: Living in US - What to do with CAD / Canadian $ inheritance?

Quantum..... One additional thought... If the amount is substantial enough, you might be able to negotiate a slightly better exchange rate than the "street" rate, perhaps from the bank the check is drawn on. We did this with Scotia bank for a large check when we sold Canadian real estate w...
by Ace1
Sun Aug 14, 2016 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: Living in US - What to do with CAD / Canadian $ inheritance?
Replies: 24
Views: 1559

Re: Living in US - What to do with CAD / Canadian $ inheritance?

First, sorry for your loss. If the inheritance is sizable, I would suggest opening a Canadian account and consider leaving it there for future travel and / or dollar cost averaging it into USD. The " investment " depends on what portion of your overall asset base this is. There is nothing ...
by Ace1
Fri Aug 05, 2016 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Switching to Medicare -- cost vs health insurance
Replies: 22
Views: 1169

Re: Switching to Medicare -- cost vs health insurance

Just started the Medicare maze in June... and not subject to IRMAA Medicare part A ...free Medicare part B ... $121.80 per month billed quarterly (not taking social security yet) Medicare part B supplement ... Plan F $149.62 per month .. from UHC thru AARP Medicare part D ... $19.60 per month .. fro...
by Ace1
Thu Jun 02, 2016 10:23 am
Forum: Personal Finance (Not Investing)
Topic: 2016 HSA limit calculation
Replies: 3
Views: 668

Re: 2016 HSA limit calculation

AD
Thanks for the feedback :happy
Interesting that the catchup is not restricted in this situation.
by Ace1
Thu Jun 02, 2016 9:26 am
Forum: Investing - Help with Personal Investments
Topic: GE Stock: Letter to stockholders Re:GEID
Replies: 1
Views: 476

Re: GE Stock: Letter to stockholders Re:GEID

DPD I am a shareholder of both GE shares and GE mutual funds. These accounts were managed by GEID and were only available to GE employees. I received that letter but only for my mutual fund shares. My GE shares are at the transfer agent, Computershare and there is no change in these. I suspect your ...
by Ace1
Wed Jun 01, 2016 8:25 am
Forum: Personal Finance (Not Investing)
Topic: 2016 HSA limit calculation
Replies: 3
Views: 668

Re: 2016 HSA limit calculation

Seattlecpa ... Would you review and comment please?
by Ace1
Mon May 30, 2016 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: 2016 HSA limit calculation
Replies: 3
Views: 668

2016 HSA limit calculation

I'm trying to determine correct HSA limits for 2016 for my specific situation. I retired earlier this year and will go on medicare June 1. Before retiring, I contributed to the employer HDHP HSA what I believe to be the max ... $7750/12*5=$3229 for family coverage, up to the month I go on Medicare. ...
by Ace1
Sat Feb 27, 2016 11:23 pm
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2016!
Replies: 218
Views: 24341

Re: Roll Call for the Retirement Class of 2016!

Victoria Please add me to the class of 2016. I was planning on joining the " every day is Saturday " club later this year, however the company I work for sprung a voluntary retirement package on a small group with certain qualifications and it is an offer I just couldn't refuse. So my last...
by Ace1
Sat Aug 29, 2015 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare and HSA question
Replies: 3
Views: 463

Medicare and HSA question

In the year one turns 65, and still working and covered by employers HDHP with HSA, is it advisable to delay filing for Medicare part A, so as to be able to continue contributing to and maxing one more years contribution to the HSA ? Employer plan does NOT require an employee to have Medicare part A...
by Ace1
Thu Aug 13, 2015 7:07 am
Forum: Investing - Help with Personal Investments
Topic: A retiree's Investment Policy Statement
Replies: 32
Views: 4140

Re: A retiree's Investment Policy Statement

Bertilak
Thanks much for sharing.
Insightful and very informative.
And thanks to the other posters for the contributions.
Most helpful.
by Ace1
Sun Aug 09, 2015 5:04 am
Forum: Personal Finance (Not Investing)
Topic: Got laid off last Friday
Replies: 68
Views: 12661

Re: Got laid off last Friday

JohnBDB I agree with other responses ... You should NOT if at all possible withdraw 401k to pay off mortgage. IF you take the entire 125k, you increase your taxable income and easily push your taxable income into the 25% or higher tax bracket. Add in the 10% early withdrawal penalty, and you will pa...
by Ace1
Sat Jul 26, 2014 9:08 am
Forum: Investing - Help with Personal Investments
Topic: is this ( simple) retirement calculation correct?
Replies: 11
Views: 1528

Re: is this ( simple) retirement calculation correct?

#cruncher ...
Awesome spreadsheet ...
Love it for its simplicity :thumbsup
by Ace1
Mon Apr 21, 2014 12:03 pm
Forum: Personal Consumer Issues
Topic: Turbo Tax Accuracy Guarantee Experience
Replies: 4
Views: 950

Re: Turbo Tax Accuracy Guarantee Experience

Would you divulge which state ?
by Ace1
Wed Jan 01, 2014 11:43 pm
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST
Replies: 537
Views: 23092

Re: REGISTRATION FOR THE 2014 BOGLEHEAD CONTEST

My guess is 2050.
The mid term election in Nov will have a lot to say about where things end up IMO.
by Ace1
Mon Dec 02, 2013 1:22 pm
Forum: Personal Consumer Issues
Topic: Home office printer
Replies: 19
Views: 1901

Re: Home office printer

Had an old HP 4L for over 20 years ... A turtle but a tank. Finally had to replace it and decided to switch to a Brother based on similar commentary on this forum. Acquired the 5470DW this past January on sale about $200. I am quite happy with it so far, it is VERY fast, and love the wireless printi...
by Ace1
Thu Sep 05, 2013 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: 2009 Schedule D-1
Replies: 9
Views: 828

Re: 2009 Schedule D-1

Description. Sold date sold amt. acq date cost amt. gain/loss 2500s Zale corp 6/24/09 $8255. 6/22/09 $7748.17. $507 1000s Zale corp 6/22/09 $3067. 6/22/09 $3100.83. ($34) Curious why you would buy and sell on the same day ..... And at a loss ? SALE DATE SALE AMOUNT STOCK QTY 6/24/2009 $8,255.00 ZALE...
by Ace1
Sun Aug 04, 2013 10:54 pm
Forum: Personal Consumer Issues
Topic: High handicap golf nut
Replies: 18
Views: 2222

Re: High handicap golf nut

How far you hit it doesn't matter ... Where (direction) does ! The game is played from 150 yards and in. Practice on the short game 150 yards in produces the best chances for scoring improvement. A 6 inch putt counts the same as a 300 yard drive. A "perfect" par round of golf is typically ...
by Ace1
Tue Jun 25, 2013 6:45 am
Forum: Investing - Help with Personal Investments
Topic: Tax Harvest - Replacement or Wait 60 days.
Replies: 11
Views: 1044

Re: Tax Harvest - Replacement or Wait 60 days.

From a tax perspective, the 60 days is the 30 days BEFORE and 30 days AFTER part of the wash sale rule.
The " re- purchase " can be executed on the 31st day after the sale.
by Ace1
Fri Mar 29, 2013 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Deductions on Rental Property
Replies: 11
Views: 975

Re: Tax Deductions on Rental Property

Regarding depreciation, you are correct in that only the building should be depreciated ( land does not usually wear out), however the first year the asset is placed in service, it is a different percentage based on month placed in service. All years thereafter it is 27 1/2 years life calculation. T...
by Ace1
Mon Mar 11, 2013 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Prime Money Market Fund (VMMXX) Question?
Replies: 33
Views: 10901

Re: Vanguard Prime Money Market Fund (VMMXX) Question?

Exactly ... I believe that's what I said with different numbers.
My point was the earnings, as little as they are the past few years, have covered the ER.
The op seemed to imply he would see a deduction of his principal.
by Ace1
Mon Mar 11, 2013 5:32 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Prime Money Market Fund (VMMXX) Question?
Replies: 33
Views: 10901

Re: Vanguard Prime Money Market Fund (VMMXX) Question?

I'm pretty sure that the er is deducted from the earnings, ie managers earn .25, deduct the .16 er,
and credit the account with what's left, in this example .09.
I have had prime money fund since the 90's and I believe I have NEVER seen a deduction.
by Ace1
Sat Mar 09, 2013 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 estimates
Replies: 2
Views: 330

Re: 1099 estimates

TT has a form called " what if worksheet". There is a check box to use next year (2013) rates and it starts with 2012 data from your return. You can modify / add data as needed. Periodically you can review your 1099 income and adjust either your withholding or make estimated payments. And ...
by Ace1
Sun Mar 03, 2013 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp W2 + Full time W2 : SS Tax overpayment
Replies: 2
Views: 334

Re: S Corp W2 + Full time W2 : SS Tax overpayment

Corporate payments are required and they are usually not refundable. You already paid yourself, deposited the federal taxes and filed the 941. Don't think there is anyway you can recharacterize the wages you paid yourself. The "excess" FICA will / should be on your 1040 on line 69 and are ...
by Ace1
Sat Mar 02, 2013 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Cash out or annual payments...........kind of long
Replies: 14
Views: 1893

Re: Cash out or annual payments...........kind of long

Sl The net present value of this series of cash flows depends on the discount rate. If one uses 2%, today's value would be over $ 760,000 to equal the over 1 million dollars you are scheduled to receive. To get a present value around $320,0000 one would use an interest rate of 10%. The lawyers appea...
by Ace1
Thu Feb 28, 2013 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Requesting help with a Federal Withholding question
Replies: 6
Views: 515

Re: Requesting help with a Federal Withholding question

Increasing the contribution to the 401k in the paycheck reduces the amount of FIT withholding accordingly. The only solution is either increase withholding regardless of what is done with the 401k or make quarterly estimated payments. Since the incremental investment income is causing the tax shortf...
by Ace1
Thu Feb 07, 2013 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: Income tax withheld for wrong state, how to file?
Replies: 20
Views: 3967

Re: Income tax withheld for wrong state, how to file?

HouseStark I think you missed the point of my post. I don't believe it is possible for the sum of the two state incomes on the w2 to exceed the total income in your example. In your example the w2 would show $65000 of total state income .... not possible if the total earned was only $60000. There is...
by Ace1
Wed Feb 06, 2013 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Income tax withheld for wrong state, how to file?
Replies: 20
Views: 3967

Re: Income tax withheld for wrong state, how to file?

I don't think it is possible for someone to be in two states at the same time.
In the Sven example, the $5k was earned in IL, not in MN.
The MN income earned in that state is $55k.
If the employer issued an incorrect w2, the employer needs to issue a corrected w2 (w2c).
by Ace1
Sat Jan 26, 2013 11:24 am
Forum: Personal Finance (Not Investing)
Topic: W2 question
Replies: 25
Views: 2066

Re: W2 question

Pretax medical deductions are referred to as section 125 deductions. If your plan literature includes the dental coverage as part of the medical plan, it would seem the monthly premiums for dental should be excluded from your taxable income, presuming your entire plan is qualified as a section 125 p...
by Ace1
Tue Jan 15, 2013 1:09 pm
Forum: Investing - Help with Personal Investments
Topic: Mutual Fund Sale, tax question
Replies: 8
Views: 444

Re: Mutual Fund Sale, tax question

You appear to have two questions.... 1) First you must determine if you have a gain. The fund record keeper should provide the average cost of the shares you sold or the actual cost of the shares/lot you sold. The difference between the value for the shares sold and the cost of the shares sold is yo...
by Ace1
Sun Jan 13, 2013 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Filing jointly on taxes
Replies: 19
Views: 1094

Re: Filing jointly on taxes

Your federal filing status has nothing to do with home ownership.
by Ace1
Fri Jan 11, 2013 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Canadian $
Replies: 30
Views: 1497

Re: Getting Canadian $

You will get the best exchange rate at a bank in Canada, especially for that small amount. The rate is usually a couple cents less than the financial rate from Bloomberg or what you see on yahoo finance. The casino is another cent less. The only place Ive found that is better is the duty free shop i...
by Ace1
Tue Jan 08, 2013 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: salary allocation advice
Replies: 12
Views: 1487

Re: salary allocation advice

Caution .... If you take out a 401 k loan and subsequently leave employment with that employer for any reason ( quit, terminated etc.), the loan must be repaid fully or it is deemed to be a distribution, and subject to the rules for that, ie taxable and potentially subject to the early distribution ...
by Ace1
Fri Jan 04, 2013 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Any change to your 2013 paycheck?
Replies: 68
Views: 5645

Re: Any change to your 2013 paycheck?

On 12/31 the IRS released the withholding tables based on the premise Congress would not act in "time", and the tables reflect the end of the Bush tax cuts. Since the president signed the Congress new bill on 1/2, the IRS released the "new" withholding tables that reflect the new...
by Ace1
Tue Jan 01, 2013 10:54 am
Forum: Investing - Help with Personal Investments
Topic: I owe my wife $5,000.00
Replies: 10
Views: 2681

Re: I owe my wife $5,000.00

"Load and unload dishwasher for a year and call it even."


+1 ...... Excellent !
by Ace1
Thu Dec 27, 2012 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k
Replies: 9
Views: 839

Re: Solo 401k

Thanks again to all who have responded ... sincerely appreciate your thoughful and informative responses. To answer a couple points .... Yes I am self employed - have two unrelated S corps - no other employees, and many years away from the over 50 catchup opportunity. My thinking regarding the in se...
by Ace1
Wed Dec 26, 2012 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k
Replies: 9
Views: 839

Solo 401k

I have 2 solo 401k questions ...
1) What is the maximum amount allowed for company contribution/match to a solo401k for 2012 ?
2) Does Vanguard permit in service withdrawals rolled out of a solo401k (at Vanguard) and
into a (rollover) IRA (in Vanguard brokerage service) ?

Thanks for your responses !
by Ace1
Sun Dec 23, 2012 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: 1040X forms to file
Replies: 5
Views: 724

Re: 1040X forms to file

It's likely the other schedules printed because something on them changed. For example if your AGI changed it would change the threshold amounts for medical and miscellaneous. That may not have had an impact on your total deductions. If it just this type of cosmetic change, IRS will not want the sch...
by Ace1
Fri Dec 14, 2012 4:29 pm
Forum: Personal Consumer Issues
Topic: 12 year old dryer is squeeking loudly. What to do?
Replies: 35
Views: 4250

Re: 12 year old dryer is squeeking loudly. What to do?

Taylor Although my make of dryer is a Maytag also about 10-12 years old, mine developed a squeal which disappeared as the dryer warmed up. Ultimate cause is the rollers, the "wheels" the drum sits/rolls on. I am mostly all thumbs for stuff like this, but tackled it anyway. I replaced the i...
by Ace1
Mon Dec 10, 2012 6:33 pm
Forum: Personal Consumer Issues
Topic: GasBuddy.com
Replies: 26
Views: 7916

Re: GasBuddy.com

I have used Gas Buddy, but did not know about the points ... Will check into that. I have used the msn auto gas prices site/map more however. The interactive map allows the user to drag the map and the prices move accordingly. This is most helpful if you are traveling some distance and wish to plan ...
by Ace1
Thu Nov 29, 2012 11:31 am
Forum: Investing - Help with Personal Investments
Topic: Potential windfall in 2013. Anything to prepare for now?
Replies: 7
Views: 943

Re: Potential windfall in 2013. Anything to prepare for now?

Losses on personal assets ( residence for example) are generally NOT deductible.

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