Search found 10356 matches

by DSInvestor
Thu Apr 27, 2017 7:22 pm
Forum: Investing - Help with Personal Investments
Topic: sell stocks to fund individual 401K and Roth IRA?
Replies: 10
Views: 403

Re: sell stocks to fund individual 401K and Roth IRA?

If any of those stocks pay dividends, stop reinvestment of dividends and use them to contribute to retirement accounts.
by DSInvestor
Wed Apr 26, 2017 6:51 pm
Forum: Personal Consumer Issues
Topic: car portable refrigerator
Replies: 12
Views: 790

Re: car portable refrigerator

I'm thinking of buying a portable car refrigerator. Mostly, we use coolers with freezer packs. But lately I've been contemplating upgrading to car frig. I was thinking of buying grass fed meats at a farm but it's a few hours drive. I've been looking at a couple of different models. I think a good c...
by DSInvestor
Wed Apr 26, 2017 10:54 am
Forum: Investing - Help with Personal Investments
Topic: Questions regarding Fidelity Solo401k
Replies: 3
Views: 162

Re: Questions regarding Fidelity Solo401k

If you're doing any Roth conversions in calendar 2017, then form 8606 looks at non-Roth IRA account balances as of 12/31/2017. It is OK to have a SEP-IRA now. If you transfer all of your SEP-IRA assets into the Solo 401k before 12/31/2017, your SEP-IRA will have ZERO balance and you will have no iss...
by DSInvestor
Tue Apr 25, 2017 11:23 pm
Forum: Investing - Help with Personal Investments
Topic: Investor --> Admiral shares in VG
Replies: 2
Views: 419

Re: Investor --> Admiral shares in VG

Just finally crossed the $10,000 threshold in my Vanguard Roth IRA, all invested in VGTSX (Vanguard Total International Stock Index). Will Vanguard automatically convert my account from Investor class to Admiral class? What is the equivalent of VGTSX in Admiral shares? Thanks! :sharebeer You may se...
by DSInvestor
Tue Apr 25, 2017 10:54 pm
Forum: Investing - Help with Personal Investments
Topic: $1m capital gains, worth it to simplify and index?
Replies: 46
Views: 3676

Re: $1m capital gains, worth it to simplify and index?

If you are currently reinvesting dividends in the taxable account, stop that immediately. Collect the dividends and use them to add to low cost index funds. Do you have any holdings with capital losses? If so, sell those to realize capital loss and then sell some other holdings with gains. The capit...
by DSInvestor
Tue Apr 25, 2017 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Using Roth IRA as a savings account?
Replies: 26
Views: 2285

Re: Using Roth IRA as a savings account?

I do not have a problem with using Roth IRA to hold emergency cash reserve in OP's situation. However, OP should make sure to fully understand the rules for Roth IRA distributions which are quite tricky. Here's a link to Fairmark's Roth IRA page where you will find a section on Roth distributions. h...
by DSInvestor
Tue Apr 25, 2017 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Using Roth IRA as a savings account?
Replies: 26
Views: 2285

Re: Using Roth IRA as a savings account?

Roth IRA contributions can be withdrawn tax free and penalty free at any time. If emergency cash need does not arise, they've at least taken advantage of the Roth IRA contribution space.
by DSInvestor
Tue Apr 25, 2017 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Expenses Question
Replies: 14
Views: 1041

Re: Expenses Question

Just move your 401(k) to a better, less expensive financial institution. Also, you did not state your age and whether your 401(k) plan allows for in-service rollovers. I am 64. I will plan to look at the fine print and see if it allows that. Since this is pretty much the only way that the company m...
by DSInvestor
Tue Apr 25, 2017 1:37 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion Question.
Replies: 3
Views: 430

Re: Roth Conversion Question.

If your Roth conversions did not fully consume your IRA basis, perhaps because of proration of basis on partial conversion, you will need to continue to file form 8606 each year as you withdrawal from Traditional IRA, Rollover IRA, SEP-IRA, SIMPLE-IRA. For example, you have 495K Rollover IRA, make a...
by DSInvestor
Tue Apr 25, 2017 9:44 am
Forum: Personal Consumer Issues
Topic: Purchase new, but older model cell phone - Best method?
Replies: 11
Views: 875

Re: Purchase new, but older model cell phone - Best method?

I'm more familiar with iPhones than with Samsung phones. Apple has a refurbished site for many of their products. Perhaps Samsung has something similar. Here's a link to Samsung's phone page where you will find a link for pre-owned:
http://www.samsung.com/us/mobile/phones/
by DSInvestor
Tue Apr 25, 2017 9:25 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor roth tax mistake
Replies: 6
Views: 687

Re: Backdoor roth tax mistake

I was not covered by an employer plan during those years, but my income was too high to deduct the TIRA so it was funded with after tax dollars. My MAGI is also too high to make a direct Roth contribution. Each TIRA contribution was made in the same calendar year as the corresponding Roth conversio...
by DSInvestor
Tue Apr 25, 2017 12:19 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k recommendations?
Replies: 50
Views: 1503

Re: Solo 401k recommendations?

It should be possible to convert to Roth funds and then withdraw tax free provided you have enough exemptions and deductions to convert tax free once retired. I just don't know which accounts would allow this or even what that would be called. If you retire, you can terminate your solo 401k at any ...
by DSInvestor
Mon Apr 24, 2017 9:48 pm
Forum: Investing - Help with Personal Investments
Topic: Tax-sheltering and target retirement fund disadvantages
Replies: 22
Views: 1741

Re: Tax-sheltering and target retirement fund disadvantages

Could someone explain why VTSMX does not appear on this list? https://investor.vanguard.com/mutual-funds/list#/mutual-funds/asset-class/month-end-returns VTSMX is Total Stock Market Investor shares . The fund list probably shows Admiral shares VTSAX. Try adjusting the filter to include Investor sha...
by DSInvestor
Mon Apr 24, 2017 8:24 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor roth tax mistake
Replies: 6
Views: 687

Re: Backdoor roth tax mistake

Thanks you, DSInvestor! I very much appreciate your assistance. I realized that I had mistakenly omitted the TIRA tax basis when entering my tax data. :oops: While preparing my amended tax form (after my original post), I updated the tax basis to 5500, the taxable amount changed to zero and the mis...
by DSInvestor
Mon Apr 24, 2017 1:31 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor roth tax mistake
Replies: 6
Views: 687

Re: Backdoor roth tax mistake

The key is to enter 1) the Traditional IRA contribution and 2) Roth conversion. The 1099-R covers only the Roth conversion step. If your Traditional IRA contribution was deductible then you should see $5500 deduction in line 32 (IRA deduction) of the 1040. In this, you have ZERO IRA basis and the co...
by DSInvestor
Sat Apr 22, 2017 12:30 pm
Forum: Personal Consumer Issues
Topic: Six pack for barbecue?
Replies: 77
Views: 4962

Re: Six pack for barbecue?

If you have a Trader Joes near you, you can build a 6 pack. You can pull beers out of existing 6 packs as you build your own. Each beer costs 1/6th of the six pack price. Nice way to try a bunch of beers without commitment. I think 2 beers per guest is good.
by DSInvestor
Thu Apr 20, 2017 9:56 pm
Forum: Investing - Help with Personal Investments
Topic: 401k employer contribution greater than $36k ok?
Replies: 4
Views: 493

Re: 401k employer contribution greater than $36k ok?

Thanks for the reply! It's for 2017 and for a sole proprietorship (No s corp). So I think you are saying I'll be a okay. Just make sure your net business income by year end will support the 38K employer profit share contribution or more. If your income drops off or you have high expenses to reduce ...
by DSInvestor
Thu Apr 20, 2017 9:30 pm
Forum: Investing - Help with Personal Investments
Topic: 401k employer contribution greater than $36k ok?
Replies: 4
Views: 493

Re: 401k employer contribution greater than $36k ok?

If I assume 2016 tax year, the limit for solo 401k is 53K. If 2017 tax year, it is 54K. The sum of our employee and employer contributions to Solo 401k cannot exceed those limits. If you are age 50+, you have an extra 6K of employee catchup contribution. If your self employed income is sufficient to...
by DSInvestor
Thu Apr 20, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Max out 401K OR Pay off Federal Student Loan
Replies: 11
Views: 1100

Re: Max out 401K OR Pay off Federal Student Loan

I suggest maxing out Traditional 401k, Roth IRA and attacking the student loans.
by DSInvestor
Thu Apr 20, 2017 11:18 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 608

Re: Contribute to SEP IRA and traditional IRA in same tax year?

Ok. I'm self employed, so I should be able to contribute as both. Shouldn't Merrill have been able to distinguish between the two? Yes, as long as you code the SEP-IRA contribution as an employer contribution. If it is mistakenly coded as an employee contribution then that would be a normal Traditi...
by DSInvestor
Thu Apr 20, 2017 11:12 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 608

Re: Contribute to SEP IRA and traditional IRA in same tax year?

Ok. I'm self employed, so I should be able to contribute as both. Shouldn't Merrill have been able to distinguish between the two? Yes, as long as you code the SEP-IRA contribution as an employer contribution. If it is mistakenly coded as an employee contribution then that would be a normal Traditi...
by DSInvestor
Thu Apr 20, 2017 10:47 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 608

Re: Contribute to SEP IRA and traditional IRA in same tax year?

At Vanguard, my SEP-IRA allowed for employer and employee contributions. If employee contributions are made to SEP-IRA, that's the same as the Traditional IRA contribution with limit of $5500. Employer contributions to SEP-IRA have 53K limit (2016). If Merrill's SEP-IRA also allowed for employee con...
by DSInvestor
Thu Apr 20, 2017 10:22 am
Forum: Investing - Help with Personal Investments
Topic: Contribute to SEP IRA and traditional IRA in same tax year?
Replies: 15
Views: 608

Re: Contribute to SEP IRA and traditional IRA in same tax year?

Yes. Traditional IRA contribution limits are separate from SEP-IRA limits. Please be aware that those covered by employer plans (SEP-IRA is an employer plan), are subject to Traditional IRA deduction phase out. See IRA deduction limits for more details: https://www.irs.gov/retirement-plans/ira-deduc...
by DSInvestor
Wed Apr 19, 2017 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: Traditional IRA Withdrawal question
Replies: 6
Views: 410

Re: Traditional IRA Withdrawal question

There is no 5 year clock for Traditional IRA contributions.
by DSInvestor
Wed Apr 19, 2017 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: Help on what to do with travel savings
Replies: 3
Views: 330

Re: Help on what to do with travel savings

CDs. Short term bond fund.
by DSInvestor
Wed Apr 19, 2017 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: Accidently contributed into SEP vs SE 401k
Replies: 8
Views: 502

Re: Accidently contributed into SEP vs SE 401k

Is there an easier way to put money in your SE 401k? When I had a Fidelity SE 401k, I called to make my SE 401k contributions. I would specify that $X was employee contribution for tax year YYYY and $Z was employer contribution for tax year YYYY. Very easy. The rep would transfer the money from my ...
by DSInvestor
Wed Apr 19, 2017 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Best way to save
Replies: 5
Views: 769

Re: Best way to save

During year 2018, I won't be able to contribute to my employer's plan (can start contributing on Jan 1 or July 1 after being there at least a year) so I won't be eligible until Jan 2019 since I start work Aug 1st. Can I still contribute to the Solo 401k despite not having a 1099 in year 2018? Solo ...
by DSInvestor
Wed Apr 19, 2017 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Accidently contributed into SEP vs SE 401k
Replies: 8
Views: 502

Re: Accidently contributed into SEP vs SE 401k

I'd give Fidelity a call and ask them to correct the contribution. It's probably an easy fix for them to do. Ask them if there are any implications for tax filing and if any tax forms like 1099R will be generated by this fix. Keep in mind that Solo 401k may allow for larger contributions than SEP-IR...
by DSInvestor
Tue Apr 18, 2017 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to save
Replies: 5
Views: 769

Re: Best way to save

I do have self employed income (I'm getting a stipend from my future employer via a 1099, that counts right?). Good thought on the Solo 401k. Don't know much about that. If I told you that I have ~180k in student loan debt at 6.8% interest does that change your thinking in how I should "save&q...
by DSInvestor
Tue Apr 18, 2017 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to save
Replies: 5
Views: 769

Re: Best way to save

Roth IRA is a good option as long as you're eligible for direct Roth IRA contribution. I see from another post that you're a medical resident that's about to get a big increase in income. If you suspect that your AGI for 2017 may exceed 186K, you should contribute to Traditional IRA instead and conv...
by DSInvestor
Tue Apr 18, 2017 10:16 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth - How to declare in TaxAct? No 1099-R is not available?
Replies: 2
Views: 200

Re: Backdoor Roth - How to declare in TaxAct? No 1099-R is available?

I'm new to the Backdoor Roth process, so i'm just double-checking in here to make sure I do this correctly: 1. March 2017 - opened a TIRA with $5500 2. March 2017 - converted TIRA to Roth IRA a week later. 3. I had no other retirement account, except for my employer's 401k program. 4. Married filed...
by DSInvestor
Tue Apr 18, 2017 9:22 pm
Forum: Investing - Help with Personal Investments
Topic: TaxAct not calculating capital gain harvesting properly?
Replies: 28
Views: 1673

Re: TaxAct not calculating capital gain harvesting properly?

Are you getting ACA premium tax credit? Higher AGI with capital gain could result in reduction or loss of ACA premium tax credit. BTW, the top of the 15% tax bracket is at Taxable Income of $75,300. Taxable Income = AGI - deductions - exemptions. If taking the std deduction and 2 exemptions, you can...
by DSInvestor
Tue Apr 18, 2017 10:56 am
Forum: Investing - Help with Personal Investments
Topic: Exchanging the S&P 500 for the TSM
Replies: 16
Views: 1973

Re: Exchanging the S&P 500 for the TSM

There are no tax implications for selling or exchanging out of funds in IRA accounts. If you exchange your 500 Index fund for TSM, you will not be out of the market for even a second. The exchange happens at market close at NAV. I'd suggest exchange ALL shares.
by DSInvestor
Tue Apr 18, 2017 9:01 am
Forum: Personal Consumer Issues
Topic: Alternative to Sprint? DW and I pay $156/mo.
Replies: 8
Views: 510

Re: Alternative to Sprint? DW and I pay $156/mo.

You'd have to check on which companies have good network service in your area or where you need to use your phones. T-Mobile unlimited calling, unlimited texting, unlimited data, hotspot and no roaming fees for Canada/Mexico for lines would cost $100/month including fees and taxes. Cricket Wireless ...
by DSInvestor
Tue Apr 18, 2017 12:44 am
Forum: Investing - Help with Personal Investments
Topic: Are there fees for dividend reinvestment?
Replies: 2
Views: 463

Re: Are there fees for dividend reinvestment?

If you want to add to your wellesley held at Fidelity, you'd have to pay $75 transaction fee with each purchase unless you buy with an automatic transaction which costs $5 assuming the fund position has already been established. I don't believe there will be any fees to reinvest dividend and capital...
by DSInvestor
Mon Apr 17, 2017 11:20 am
Forum: Personal Finance (Not Investing)
Topic: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?
Replies: 77
Views: 5023

Re: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?

Thank you so much. I will do a recharacterization. I did not have an employer covered plan for 2016. I already paid my taxes already so when I make an amendment for a recharacterization, I should get back a refund right? When is the deadline for the recharacterization if I made my roth contribution...
by DSInvestor
Mon Apr 17, 2017 12:17 am
Forum: Personal Finance (Not Investing)
Topic: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?
Replies: 77
Views: 5023

Re: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?

I just checked and it is a rollover IRA with a total of $80. If I convert my roth IRA by recharacterization, does the whole $50000 turn into a new IRA? And what happens to the $2300 in earnings or so? And there is no rush to do this before the deadline? And how do I switch this back to a roth IRA??...
by DSInvestor
Sun Apr 16, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: General retirement questions
Replies: 24
Views: 3499

Re: General retirement questions

What is your Adjusted Gross Income (line 37 on your 1040 tax form)? If AGI is under 184K, you and your wife can make full Roth IRA contributions for tax year 2016. You should max out employee contributions your 401k at work. The max is 54K. If you max out employee contribution for 18K, that leaves 3...
by DSInvestor
Sun Apr 16, 2017 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Can a self-employed person utilize direct deposit?
Replies: 17
Views: 1042

Re: Can a self-employed person utilize direct deposit?

When I had my S-Corp, I had a business account and a personal account at the same bank (Chase). Different tax ID numbers for each account. My bank allowed me to link the two accounts and I can transfer money between personal and business accounts without delay. It is instantaneous. I don't know if t...
by DSInvestor
Sat Apr 15, 2017 11:49 pm
Forum: Personal Consumer Issues
Topic: Budget multitool knife
Replies: 24
Views: 2062

Re: Budget multitool knife

I have 3 leatherman multi-tools:
1. Squirt PS4 on my keychain. $27
2. Leatherman Charge. I bought one for my wife and one for me. Mine was stolen from my checked luggage.
3. Leatherman Wingman $33.
by DSInvestor
Sat Apr 15, 2017 7:00 pm
Forum: Investing - Help with Personal Investments
Topic: New contributions after making number, aggressive or conservative?
Replies: 30
Views: 2081

Re: New contributions after making number, aggressive or conservative?

If you have already reached your number, I suspect that the amount of new contributions is going to be very small relative to overall portfolio. If one had $2+ million in portfolio, I think it would make more sense to focus on how that 2+ million is allocated rather than how the 48+K of new money is...
by DSInvestor
Sat Apr 15, 2017 6:14 pm
Forum: Investing - Help with Personal Investments
Topic: How often should I contribute to my taxable account?
Replies: 23
Views: 2719

Re: How often should I contribute to my taxable account?

I used an automatic transaction to add to my taxable account once a month.
by DSInvestor
Sat Apr 15, 2017 1:39 pm
Forum: Investing - Help with Personal Investments
Topic: Quick Help - Your traditional IRA contributions are disallowed due to your AGI...
Replies: 18
Views: 1053

Re: Quick Help - Your traditional IRA contributions are disallowed due to your AGI...

If it hasn't been said, you should do a Roth conversion on the traditional IRA contribution that you have since you are over the AGI for direct Roth contribution. Also known as a backdoor Roth IRA. https://www.bogleheads.org/wiki/Backdoor_Roth_IRA Thanks. I have done the roth conversion for my wife...
by DSInvestor
Fri Apr 14, 2017 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth contribution more than $5500?
Replies: 5
Views: 621

Re: Backdoor Roth contribution more than $5500?

You contributed $5500 to Traditional IRA. You converted 5500.84 (rounded up to $5501) to Roth IRA. There is no limit on how much you can convert to Roth IRA. You do not have an excess contribution to IRA. If you were covered by an employer plan like 401k, 403b, 457b, pension etc, your high income wo...
by DSInvestor
Fri Apr 14, 2017 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?
Replies: 77
Views: 5023

Re: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?

I only contributed once to any IRAs and the reason it was not allowed was because my magi was too high. All of it has been earned income That's great. You're eligible for Traditional IRA contribution. Recharacterization would work well to avoid your Roth IRA excess contribution. If you were covered...
by DSInvestor
Fri Apr 14, 2017 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?
Replies: 77
Views: 5023

Re: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?

I am so confused lol. I'll just withdraw it then If you expect no income for 2017 tax year, why not consider recharacterizing your 2016 Roth IRA contribution to a 2016 Traditional IRA contribution? Once the recharacterization is complete, convert it back to Roth IRA. The conversion is taxable in 20...
by DSInvestor
Fri Apr 14, 2017 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?
Replies: 77
Views: 5023

Re: Should I take 6% penalty for excess Roth IRA contribution since I had significant earnings?

I am so confused lol. I'll just withdraw it then If you expect no income for 2017 tax year, why not consider recharacterizing your 2016 Roth IRA contribution to a 2016 Traditional IRA contribution? Once the recharacterization is complete, convert it back to Roth IRA. The conversion is taxable in 20...
by DSInvestor
Fri Apr 14, 2017 12:13 am
Forum: Personal Consumer Issues
Topic: netflix
Replies: 11
Views: 1278

Re: netflix

Netflix page - Traveling or Relocating With Netflix: https://help.netflix.com/en/node/24853?ba=GSButtonClick&q= If you’re traveling and want to watch Netflix on the go, all you need is a stable Internet connection for your supported device. If we notice you're using Netflix outside of the countr...
by DSInvestor
Thu Apr 13, 2017 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Confusing but short tax question about backdoor roth IRA, I can't figure out. Help??
Replies: 8
Views: 337

Re: Confusing but short tax question about backdoor roth IRA, I can't figure out. Help??

Step 1: Call Vanguard ASAP and add another $5,500 to my traditional IRA for a 2016 contribution. Step 2: Continue doing my taxes after that via TurboTax, and report a 2016 contribution to my traditional IRA (8606) and report that in 2016's tax return all before April 18th the deadline. Step 3: some...
by DSInvestor
Thu Apr 13, 2017 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Confusing but short tax question about backdoor roth IRA, I can't figure out. Help??
Replies: 8
Views: 337

Re: Confusing but short tax question about backdoor roth IRA, I can't figure out. Help??

I think you're good as far as the conversions done in calendar 2016. Based on the info provided in this thread, you have not made TIRA contributions for 2016 tax year yet. You still have time to make those contributions. If you do that, make sure to enter the 2016 contribution to your 2016 tax retur...

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