Search found 792 matches

by Allan
Wed May 30, 2018 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Bank overpaid contractor and wants my daughter to be responsible
Replies: 25
Views: 3567

Re: Bank overpaid contractor and wants my daughter to be responsible

As a long time (40+ years) custom home builder in Texas, I find a couple of things about your story strange. I routinely build new homes for clients with bank loans, although most of my deals are 4 million$ and higher. But same rules apply. You said the bank “handled all of the money and disbursemen...
by Allan
Sun May 13, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Texas Medicaid - questions and Legal help
Replies: 12
Views: 900

Re: Texas Medicaid - questions and Legal help

Asking for a friend.... Looking for someone in Houston that specializes in the area of Medicaid in Texas. Would proceeds from selling the house (primary and only residence) affect Medicaid status or possibly getting penalized by required to pay back past medical expenses paid for by Medicaid? Not s...
by Allan
Sat May 12, 2018 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Texas Medicaid - questions and Legal help
Replies: 12
Views: 900

Re: Texas Medicaid - questions and Legal help

Asking for a friend.... Looking for someone in Houston that specializes in the area of Medicaid in Texas. Would proceeds from selling the house (primary and only residence) affect Medicaid status or possibly getting penalized by required to pay back past medical expenses paid for by Medicaid? Not s...
by Allan
Sat May 12, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Lucrative careers?
Replies: 318
Views: 24287

Re: Lucrative careers?

Home builder.
by Allan
Mon Apr 23, 2018 6:08 am
Forum: Personal Consumer Issues
Topic: Long term care ins John Hancock
Replies: 32
Views: 1698

Re: Long term care ins John Hancock

I purchased a top of the line long-term care policy from John Hancock in 2001. It was a policy that after 10 years would be paid up for life and premiums would cease, which they did. Of course the premium was higher because of this, as I recall it was $3,400 per year and in the 8th year increased t...
by Allan
Sun Apr 22, 2018 6:56 am
Forum: Personal Consumer Issues
Topic: Long term care ins John Hancock
Replies: 32
Views: 1698

Re: Long term care ins John Hancock

I purchased a top of the line long-term care policy from John Hancock in 2001. It was a policy that after 10 years would be paid up for life and premiums would cease, which they did. Of course the premium was higher because of this, as I recall it was $3,400 per year and in the 8th year increased to...
by Allan
Sat Apr 14, 2018 7:48 am
Forum: Personal Consumer Issues
Topic: Anyone Deleting Facebook?
Replies: 338
Views: 24196

Re: Anyone Deleting Facebook?

I'm 67 and use Facebook groups. The regular feed doesn't interest me much but I belong to a few groups that I do find enjoyable. One group is my hometown I grew up in, people post photos and discussions about things that happened 30-50 years ago. I've met up with people I knew in grade school, high ...
by Allan
Sat Feb 10, 2018 7:58 pm
Forum: Personal Consumer Issues
Topic: Good Hotel in DC
Replies: 46
Views: 3568

Re: Good Hotel in DC

My wife and I stayed in the Hay Adams, great view, great location, really good food. Yes, a bit pricey but they made us a deal on the room. We were 7th floor with a clear shot of the White House.
by Allan
Sun Feb 04, 2018 3:36 pm
Forum: Personal Consumer Issues
Topic: Insurance for remodeling project?
Replies: 3
Views: 366

Re: Insurance for remodeling project?

I am a General Contractor in New Jersey and I would suggest that you have the builder provide you with certificates of insurance for liability, workers comp and commercial auto for his firm, as well as any subcontractors hired to work on your home. Then check with your homeowners insurance company ...
by Allan
Sun Jan 28, 2018 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 198
Views: 16237

Re: Stats on When People Take Social Security

I wonder if a lot of people plan to wait until 70, but when they reach full retirement age it is just too enticing to not receive what might feel like "free" money. I have always planned on waiting, I don't need the money and I like the 8% per annual increase in benefits. But as someone about to tur...
by Allan
Wed Jan 24, 2018 9:18 pm
Forum: Investing - Help with Personal Investments
Topic: SPIA with escalator - anyone priced one?
Replies: 9
Views: 832

Re: SPIA with escalator - anyone priced one?

I had a conversation with Stan the Annuity man a few months ago, who I think has been referenced here on Bogleheads. I consider him a real expert on this topic and he is not a big fan of these type of annuities, he says you pay a big premium for inflation-adjusted annuities. You might do a search, h...
by Allan
Sat Jan 20, 2018 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Singing Praises for the Capital One Credit Card
Replies: 7
Views: 1500

Singing Praises for the Capital One Credit Card

I use 2% cash back credit cards for buying items in my business, I spend some serious money on an annual basis buying material. I have the Fidelity VISA and the Capital One Spark, and will occasionally chase a sign-up bonus, I recently did this for the $1,000 cash bonus on an Amegy Bank VISA. The Ca...
by Allan
Sat Jan 20, 2018 6:39 pm
Forum: Investing - Theory, News & General
Topic: Fear of dying with too much money?
Replies: 137
Views: 9284

Re: Fear of dying with too much money?

Sandtrap wrote:
Sat Jan 20, 2018 6:11 pm
I've been blessed with more than enough.
So I invest for the security of an educational "legacy" trust for my hares . . . and the hares of my hares.. . and their hares :shock: .
j :D
You can't have too much money for hares, especially when they are multiplying like rabbits :)
by Allan
Thu Jan 18, 2018 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Homestead question
Replies: 4
Views: 612

Re: Homestead question

If you are 50% owner and you meet all requirements for claiming a homestead exemption, then you can claim 50% of the exemption.

https://comptroller.texas.gov/taxes/pro ... ce-faq.php
by Allan
Thu Jan 18, 2018 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 198
Views: 16237

Re: Stats on When People Take Social Security

Did I read that only something like 2%-4% of those getting SS wait until age 70? But you read that a lot of folks on this forum plan to wait. I am 67 and plan to not start until age 70. I wonder if a lot of younger people say they are going to wait but when they reach age 62, then 66, just can't bri...
by Allan
Mon Dec 25, 2017 7:09 am
Forum: Local Chapters and Bogleheads Community
Topic: My Christmas Present to You
Replies: 90
Views: 9184

Re: My Christmas Present to You

Taylor, I find myself looking forward to your story each Christmas, I was hoping you would post it this holiday. I never get tired of reading about the bravery you and so many other young men exhibited, it makes me thankful for the precious freedoms we have in this country.

Merry Christmas!

Allan
by Allan
Sat Dec 23, 2017 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Do you see a meaningful change in your income with new Tax Bill?
Replies: 266
Views: 23529

Re: Do you see a meaningful change in your income with new Tax Bill?

The company I own is an S-Corp, the last few years have been very good. The Sec 199a replaces Sec 199 that my CPA has used as a deduction, this 20% deduction will save me $44,000 over and above the prior used Sec 199 deduction. On a personal level my earnings have been pretty deep into the 39.6% tax...
by Allan
Sat Dec 23, 2017 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: [Pass-Thru Entities Questions Thread]
Replies: 141
Views: 11101

Re: [Pass-Thru Entities Questions Thread]

Does the 50% of wages metric paid by an S Corp include all employees of the S Corp? So in my case, I own 100% of my S-Corp but I have other employees, if I total all W-2 employee wages in my S Corp it is about $600,000. So in comparing this to the 20% of QBI, I can use all employee wages?

Allan
by Allan
Sat Dec 23, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: [Pass-Thru Entities Questions Thread]
Replies: 141
Views: 11101

Re: Question about pass through income in new tax law

As an example, say you are a sole shareholder business owner of an S-Corp entity, you have employees other than yourself, and you are in a manufacturing (non-service) business. Your S-Corp flow thru income is $900,000 and your W-2 salary from the S-Corp is $400,000, so excluding deductions you repor...
by Allan
Fri Dec 22, 2017 9:21 am
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 58293

Re: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]

One work around I use on the large threads that I'm interested in is to make a note of the last post (by date and time) that I have read. When I log in and pick up reading the thread, I pretty well know where I left off, start from there and move forward.
by Allan
Fri Dec 22, 2017 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 58293

Re: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]

Please note that we are merging duplicate threads here. If something looks out of place, check the post title, it may be from a merged thread. Another thing, we made an exception to our rule that laws must be enacted before they can be discussed in order to give people a chance to figure out if the...
by Allan
Fri Dec 22, 2017 6:29 am
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 58293

Re: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]

For high income earners there were phase outs for certain items in the current tax code, I assume with so called simplification that those no longer apply?
by Allan
Thu Dec 21, 2017 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 58293

Re: Tax Bill Omnibus Thread

I am trying to understand the S-Corp 20% deduction. For example, if an S-Corp has pass thru earnings of $1,000,000 and the sole shareholder has a W-2 salary of $500,000 from the S-Corp, and the other employees of the S-Corp are paid $500,000, how is the 20% deduction calculated. Is there now a $200...
by Allan
Thu Dec 21, 2017 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 58293

Re: Tax Bill Omnibus Thread

I am trying to understand the S-Corp 20% deduction. For example, if an S-Corp has pass thru earnings of $1,000,000 and a sole shareholder has a W-2 salary of $500,000, and the other employees of the S-Corp are paid $500,000, how is the 20% deduction calculated. Is there now a $200,000 deduction (20%...
by Allan
Sun Dec 17, 2017 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Clever use of a "C" Corporation
Replies: 23
Views: 3530

Re: Clever use of a "C" Corporation

Hi, I own all or part of several pass-through entities (S-corporations and LLCs) that collectively throw off a few hundred thousand dollars each year. In some cases the entities perform services (for fees) for each other, and it is plausible to split one of the corporations into two, if it made sen...
by Allan
Sun Dec 17, 2017 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Clever use of a "C" Corporation
Replies: 23
Views: 3530

Re: Clever use of a "C" Corporation

Hi, I own all or part of several pass-through entities (S-corporations and LLCs) that collectively throw off a few hundred thousand dollars each year. In some cases the entities perform services (for fees) for each other, and it is plausible to split one of the corporations into two, if it made sen...
by Allan
Sun Dec 17, 2017 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Buy home with structural issues
Replies: 51
Views: 4227

Re: Buy home with structural issues

As a long time home builder I cannot imagine a builder's warranty that does not transfer. I warranty my work and the house for a period of time, irrespective of who lives in the house. Structural items have the longest warranty, in my state (Texas) that is 10 years as mandated by state code. If and ...
by Allan
Sat Dec 16, 2017 9:21 pm
Forum: Investing - Theory, News & General
Topic: "Creating a Durable Estate Plan"
Replies: 3
Views: 806

Re: "Letter of Final Instructions" format

Bogleheads: Last year I posted the format I use in my "Letter of Final Instructions." I hope that it will be useful for you: Letter of Final Instructions Best wishes. Taylor Thanks Taylor, I was about to copy and paste this list and I realized I did this about a year ago when you previously posted ...
by Allan
Sat Dec 16, 2017 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Buy home with structural issues
Replies: 51
Views: 4227

Re: Buy home with structural issues

Couple of things I would recommend. Sounds like you might be in legal default if you do not close? If a defect has been found and you give the seller the inspection report, even if you do not close they might be legally bound to disclose this to a subsequent buyer. So perhaps you have a bit of lever...
by Allan
Sun Nov 26, 2017 9:49 am
Forum: Personal Finance (Not Investing)
Topic: My Social Security Site not showing my future benefits
Replies: 11
Views: 1176

Re: My Social Security Site not showing my future benefits

Maybe they know something you don't. :D Not sure I understand your response. My full-time "adult" earnings started at age 19, I am 66 and still working. I have a strong earnings record, paying the max in most (not all) of my working years and coming close in the others. I simply want to be able to ...
by Allan
Sun Nov 26, 2017 9:34 am
Forum: Personal Finance (Not Investing)
Topic: My Social Security Site not showing my future benefits
Replies: 11
Views: 1176

My Social Security Site not showing my future benefits

I have been going to the My Social Security site for quite some time, to view my earning history and what my future benefits will. I am 66, I started drawing 1/2 of my wife's Soc Sec 10 months ago and am deferring my full benefits until age 70. For some reason this site no longer shows what my benef...
by Allan
Tue Nov 14, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Amegy Bank $1000 business Card offer
Replies: 19
Views: 2566

Re: Amegy Bank $1000 business Card offer

I applied under this offer and the Amegy Bank VISA card arrived today, it does offer $1,000 cash back for spending $7,500 in the 1st 90 days. Which is easy in my business. Thanks for tip!

Allan
by Allan
Sun Oct 22, 2017 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Amegy Bank $1000 business Card offer
Replies: 19
Views: 2566

Re: Amegy Bank $1000 business Card offer

This seems to good to be true. Be cautious about identity theft. Curious as to why you think someone taking this offer from Amegy Bank might be susceptible to identity theft. Allan It could be a spoofed website or email address. I guess it could be, but I went to the Amegy Bank website and I see th...
by Allan
Sun Oct 22, 2017 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Amegy Bank $1000 business Card offer
Replies: 19
Views: 2566

Re: Amegy Bank $1000 business Card offer

Watty wrote:
Sun Oct 22, 2017 7:23 am
JBTX wrote:
Sat Oct 21, 2017 12:28 am
This seems to good to be true.
Be cautious about identity theft.
Curious as to why you think someone taking this offer from Amegy Bank might be susceptible to identity theft.

Allan
by Allan
Mon Oct 02, 2017 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Is customer service my only talent?
Replies: 7
Views: 1434

Re: Is customer service my only talent?

Why don't you try selling real estate? I know realtors who make 7 figure incomes, some of the traits you have seem a good fit for that field.

Allan
by Allan
Sun Sep 24, 2017 12:23 pm
Forum: Personal Consumer Issues
Topic: Where do you get your news?
Replies: 131
Views: 10608

Re: Where do you get your news?

On my iPhone, CNN.com & Twitter.
by Allan
Fri Sep 22, 2017 5:36 am
Forum: Personal Consumer Issues
Topic: Gaps in new hardwood flooring
Replies: 52
Views: 4013

Re: Gaps in new hardwood flooring

Did you use a moisture meter to check moisture content before installing? That is what I see the best hardwood flooring contractors do. Needs to be in the 9% range. Did you check this?

Allan
by Allan
Wed Sep 13, 2017 9:30 pm
Forum: Personal Consumer Issues
Topic: Iphone X is $1000
Replies: 385
Views: 31222

Re: Iphone X is $1000

I use my iPhone so much each day, primarily in my business, if I could get it today I would gladly pay the $1,000.

Allan
by Allan
Sat Sep 09, 2017 11:45 am
Forum: Personal Consumer Issues
Topic: New home: 30% increase in construction supplies due to hurricane -- [frustrated]
Replies: 10
Views: 1974

Re: New home: 30% increase in construction supplies due to hurricane -- [frustrated]

I am a very active builder in Houston, we were hit hard by Harvey. I am not hearing about excessive price increases nor have I seen them on materials I am estimating for future construction. Typically a new home breaks down (approx) 40% labor, 40% material, 20% builder profit. Some material will pro...
by Allan
Tue Sep 05, 2017 7:08 pm
Forum: Personal Consumer Issues
Topic: Question for swimmers: Do Swim Jets work?
Replies: 12
Views: 2164

Re: Question for swimmers: Do Swim Jets work?

Thanks for the replies, nice to hear from actual users.

Allan
by Allan
Sun Sep 03, 2017 8:28 am
Forum: Local Chapters and Bogleheads Community
Topic: Where is Livesoft? Was The Woodlands Flooded
Replies: 36
Views: 6999

Re: Where is Livesoft? Was The Woodlands Flooded

For those of us who have lived in Houston for a long time (me, since my birth in 1951), there was a lot of news in the 60's and 70's about subsidence of the region because of groundwater (underground) consumption from the aquifers. The area has dropped 10'-12' in sea level in the last 100 years. htt...
by Allan
Sat Sep 02, 2017 8:52 am
Forum: Personal Consumer Issues
Topic: Question for swimmers: Do Swim Jets work?
Replies: 12
Views: 2164

Question for swimmers: Do Swim Jets work?

My wife and I are building a new home next year with a swimming pool that is small to medium in size (lot size constraints). Swim jets can be installed to create a "current" to swim against for exercise, I've seen them but never used one before. Any serious swimmers who have used them, if so what is...
by Allan
Thu Aug 31, 2017 6:10 am
Forum: Personal Consumer Issues
Topic: Hurricane Harvey has me rethinking my approach to disaster preparations
Replies: 72
Views: 7727

Re: Hurricane Harvey has me rethinking my approach to disaster preparations

I also live just outside of downtown Houston (2 miles west), and I've lived here all of my life (66 yrs). My wife and I have a weekend house in Chappell Hill just northwest of Houston 70 miles, and we had no thoughts of evacuating. We did fine. Since I have lived here for so long I know the areas th...
by Allan
Tue Aug 29, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: What does Medicare REALLY Cost Wealthy Seniors
Replies: 24
Views: 2734

Re: What does Medicare REALLY Cost Wealthy Seniors

I am 66 and still working, in top bracket. My Medicare, Drug plan, and high deductible supplement cost my wife and I about $665 a month each.

Allan
by Allan
Fri Jul 14, 2017 5:22 am
Forum: Personal Finance (Not Investing)
Topic: S Corp - minimize taxes, maximize deductions
Replies: 29
Views: 2989

Re: S Corp - minimize taxes, maximize deductions

This is why in an S corp, generally you take out as little as possible as salary. This reduces your payroll taxes and you can still take tax free distributions(from the S corp earnings). I agree on the salary part, even though my CPA advises me to take a "reasonable" salary. Which I do. Regarding "...
by Allan
Fri Jun 30, 2017 6:26 am
Forum: Personal Consumer Issues
Topic: Contractor took deposit but never did any work. What next?
Replies: 57
Views: 15593

Re: Contractor took deposit but never did any work. What next?

It appears the contractor has no property in the state this occurred. I have contacted a lawyer who will for $150 write him a letter. The unfortunate part is that I have no idea where he lives at this time. If this was for a few thousand I would forget about it, but for 5 figures I want this guy in...
by Allan
Tue Jun 27, 2017 5:51 am
Forum: Personal Finance (Not Investing)
Topic: Realtor fee negotiations
Replies: 27
Views: 3277

Re: Realtor fee negotiations

I am not a realtor but in the development business. Most people who go the FSBO route do save commissions, but they sell for a lesser price than a full service realtor and thus actually ending up netting less. In my business of buying and selling real estate I've found a good realtor is invaluable.
by Allan
Mon Jun 26, 2017 7:58 am
Forum: Personal Consumer Issues
Topic: Stupid Security Questions
Replies: 46
Views: 5305

Stupid Security Questions

I was locked out of my bank account because I could not answer the security questions. I had to call the 1-800 #, and after being on wait for several minutes and resetting, I was able to log in. I went into my account to redo my security questions, and couldn't believe some of them. 1st of all, I wa...