Search found 8828 matches

by DSInvestor
Thu Feb 11, 2016 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion Tax Question
Replies: 4
Views: 256

Re: Backdoor Roth Conversion Tax Question

Traditional IRA contributions can be deductible, non-deductible or a little of both depending on your tax situation. Your IRA custodian (Vanguard) does not have any access to your tax situation so they do not know whether you took the IRA deduction or not. What is clear is that $5500 taken out of yo...
by DSInvestor
Thu Feb 11, 2016 4:05 pm
Forum: Personal Consumer Issues
Topic: $50 Amazon tablet
Replies: 33
Views: 2434

Re: $50 Amazon tablet

For the money, it's actually a pretty good tablet. fyi, it's on sale at amazon right now for $40 They are also available at your local BestBuystore for the same price as Amazon. $39.99. Good option if you don't want to wait for shipping. For those who prefer iPads, Bestbuy is currently selling iPad...
by DSInvestor
Thu Feb 11, 2016 3:39 pm
Forum: Personal Consumer Issues
Topic: $50 Amazon tablet
Replies: 33
Views: 2434

Re: $50 Amazon tablet

For the money, it's actually a pretty good tablet. fyi, it's on sale at amazon right now for $40 They are also available at your local BestBuystore for the same price as Amazon. $39.99. Good option if you don't want to wait for shipping. For those who prefer iPads, Bestbuy is currently selling iPad...
by DSInvestor
Thu Feb 11, 2016 12:56 pm
Forum: Personal Consumer Issues
Topic: Is Canada on sale? [Currency exchange rate vs. USD]
Replies: 21
Views: 1944

Re: Is Canada on sale?

As an Audubon member who enjoys bird watching trips wonder which states qualify? :happy According to this wikipedia page on Enchanced Drivers License, Michigan, Minnesota, New York, Vermont and Washington. https://en.wikipedia.org/wiki/Enhanced_Drivers_License If your state does not offer an enhanc...
by DSInvestor
Wed Feb 10, 2016 6:33 pm
Forum: Personal Consumer Issues
Topic: Is Canada on sale? [Currency exchange rate vs. USD]
Replies: 21
Views: 1944

Re: Is Canada on sale?

One other hint, if you live in a birder state you might be able to get an Enhanced License which allows passport-free crossings. As an Audubon member who enjoys bird watching trips wonder which states qualify? :happy According to this wikipedia page on Enchanced Drivers License, Michigan, Minnesota...
by DSInvestor
Mon Feb 08, 2016 11:57 pm
Forum: Investing - Help with Personal Investments
Topic: How is Roth Conversion Taxed?
Replies: 4
Views: 405

Re: How is Roth Conversion Taxed?

Let us know if you have IRA basis.
by DSInvestor
Mon Feb 08, 2016 11:18 pm
Forum: Investing - Help with Personal Investments
Topic: How is Roth Conversion Taxed?
Replies: 4
Views: 405

Re: How is Roth Conversion Taxed?

Conversion of assets in Traditional to Roth accounts does not have a concept of short term or long term capital gains. There is something called IRA basis which is what you have if you made non-deductible Traditional IRA contributions. Assuming no IRA basis, every dollar converted from Traditional I...
by DSInvestor
Sun Feb 07, 2016 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: Could be in Roth IRA phase out this year. Safer just to do back door?
Replies: 7
Views: 312

Re: Could be in Roth IRA phase out this year. Safer just to do back door?

Traditional 401k/403b/457b contributions will reduce the amount of W2 box 1 income which flows into line 7 of the 1040 to be part of AGI. AGI is the starting point of MAGI for Roth IRA purposes. Traditional 401k/403b/457b contributions reduce your AGI and MAGI for Roth IRA purposes. Roth 401k/403b/...
by DSInvestor
Sat Feb 06, 2016 12:05 am
Forum: Investing - Help with Personal Investments
Topic: when is the right time to do a planned shift in AA
Replies: 8
Views: 668

Re: when is the right time to do a planned shift in AA

If you're still accumulating, simply direct all new money to bonds. No need to sell. You can also direct dividends from your stock funds to your bond funds.
by DSInvestor
Fri Feb 05, 2016 7:31 pm
Forum: Personal Consumer Issues
Topic: $50 Amazon tablet
Replies: 33
Views: 2434

Re: $50 Amazon tablet

I would suggest not tracking your investments daily.
by DSInvestor
Fri Feb 05, 2016 6:44 pm
Forum: Investing - Help with Personal Investments
Topic: Best IRA account for Self Employed?
Replies: 8
Views: 376

Re: Best IRA account for Self Employed?

If you're an S-Corp and pay yourself 140K W-2 salary, that would be sufficient to max out a Solo 401k for 53K where 18K is employee salary deferral and 35K is employer profit share (25% of 140K). On that same 140K salary, SEP-IRA would be limited to 35K. SIMPLE-IRA would be limited to about 12.5K. ...
by DSInvestor
Fri Feb 05, 2016 5:24 pm
Forum: Investing - Help with Personal Investments
Topic: Best IRA account for Self Employed?
Replies: 8
Views: 376

Re: Best IRA account for Self Employed?

Just because a plan allows for 53K contribution, it doesn't mean you have to use it all. You have to set your priorities to balance your cash needs. Somethings are easy to prioritize (e.g. no 529 contributions until all tax advantaged plans are maxed out). If you're aggressively saving 250K as a dow...
by DSInvestor
Fri Feb 05, 2016 3:01 pm
Forum: Investing - Help with Personal Investments
Topic: Best IRA account for Self Employed?
Replies: 8
Views: 376

Re: Best IRA account for Self Employed?

Solo 401k is my favorite if you are eligible. This plan cannot be used if the business has employees other than owners and spouses of owners. Very large contributions allowed even on modest incomes. SEP-IRA can be used if there are employees but if you contribute 25% of salary for yourself, the busi...
by DSInvestor
Fri Feb 05, 2016 2:55 am
Forum: Investing - Help with Personal Investments
Topic: Help with Cost Basis for Vanguard REIT Shares
Replies: 5
Views: 247

Re: Help with Cost Basis for Vanguard REIT Shares

Here's a link to a page on Tax Information for Vanguard funds:
https://personal.vanguard.com/us/insigh ... guardfunds

On that page, you will find links to prior data as well.
by DSInvestor
Thu Feb 04, 2016 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-Misc: earned income?
Replies: 2
Views: 228

Re: 1099-Misc: earned income?

1099-MISC non-employee compensation can be counted as compensation for Roth IRA purposes. That income should be handled by Schedules C and SE.
by DSInvestor
Thu Feb 04, 2016 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA withdrawls of contributions - how to account/track?
Replies: 14
Views: 833

Re: Roth IRA withdrawls of contributions - how to account/track?

See Fairmark's Roth distribution page: http://fairmark.com/retirement/roth-accounts/roth-distributions/ See Alan S post on Roth IRA Basis: https://www.bogleheads.org/forum/viewtopic.php?p=1478231#p1478231 No, don't use the 8606 form by itself. I recommend a cumulative tally sheet as well as retainin...
by DSInvestor
Thu Feb 04, 2016 9:58 pm
Forum: Investing - Help with Personal Investments
Topic: 401K, Roth, then what
Replies: 13
Views: 690

Re: 401K, Roth, then what

We are maxing out the Roths and putting about 5k into 401ks which is no where near our max on 401ks. You should be working on increasing the 401k contributions. Assuming you have adequate emergency cash reserves, I would hold off on taxable investing or 529 plans until you have maxed out all tax ad...
by DSInvestor
Thu Feb 04, 2016 9:31 pm
Forum: Investing - Help with Personal Investments
Topic: 401K, Roth, then what
Replies: 13
Views: 690

Re: 401K, Roth, then what

We are maxing out the Roths and putting about 5k into 401ks which is no where near our max on 401ks. You should be working on increasing the 401k contributions. Assuming you have adequate emergency cash reserves, I would hold off on taxable investing or 529 plans until you have maxed out all tax ad...
by DSInvestor
Thu Feb 04, 2016 9:22 pm
Forum: Investing - Help with Personal Investments
Topic: 401K, Roth, then what
Replies: 13
Views: 690

Re: 401K, Roth, then what

Contribute more to the 401ks than what is required to max out the match. Once you each max out 401k for 18K each and IRA for 5.5K each, consider adding to taxable accounts. 401k contributions beyond the match still make sense because they are pre-tax and will reduce your fed and state income tax lia...
by DSInvestor
Thu Feb 04, 2016 8:16 pm
Forum: Investing - Help with Personal Investments
Topic: Full 401k annual contribution from bonus this year?
Replies: 6
Views: 502

Re: Full 401k annual contribution from bonus this year?

Sure. One thing to watch out for is whether your 401k plan has an employer match and whether you need to contribute every pay period to get the full match. Don't front load the contributions now if it means you will lose out on some match. Do you have an asset allocation of stocks and bonds? If yes,...
by DSInvestor
Thu Feb 04, 2016 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: IRA Basis After Roth Conversion following TIRA loss
Replies: 21
Views: 950

Re: IRA Basis After Roth Conversion following TIRA loss

The OP said total balance of $6450. 2014 IRA basis was $6500. Conversion amount 6450 leaving zero balance. Does this leave $50 basis or ZERO basis? This is why I asked OP to check his 2014 8606 to see what number shows on line 14. If line 14 shows $50, then that $50 will carry forward to line 2 on ...
by DSInvestor
Thu Feb 04, 2016 1:03 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA Question
Replies: 1
Views: 125

Re: Backdoor Roth IRA Question

Yes, she can convert as much as she wants to Roth IRA. There are no limits on how much you can convert. Since the 2015 TIRA contribution was non-deductible, make sure your 2015 tax return is aware of the TIRA contribution and adds a form 8606 for her to track that IRA basis. That $5500 IRA basis wil...
by DSInvestor
Thu Feb 04, 2016 11:58 am
Forum: Personal Finance (Not Investing)
Topic: IRA Basis After Roth Conversion following TIRA loss
Replies: 21
Views: 950

Re: IRA Basis After Roth Conversion following TIRA loss

The OP said total balance of $6450. 2014 IRA basis was $6500. Conversion amount 6450 leaving zero balance. Does this leave $50 basis or ZERO basis? This is why I asked OP to check his 2014 8606 to see what number shows on line 14. If line 14 shows $50, then that $50 will carry forward to line 2 on ...
by DSInvestor
Thu Feb 04, 2016 11:47 am
Forum: Personal Consumer Issues
Topic: Purchasing Business Class Tickets
Replies: 37
Views: 3330

Re: Purchasing Business Class Tickets

When my boss decided to open an office in Athens, Greece, he used his Amex Platinum card to buy his business class ticket which gave him a free companion business class ticket for his wife. Not sure if this feature is still available. However, the Amex Platinum card has a $450 annual fee and also gr...
by DSInvestor
Thu Feb 04, 2016 11:38 am
Forum: Personal Finance (Not Investing)
Topic: IRA Basis After Roth Conversion following TIRA loss
Replies: 21
Views: 950

Re: IRA Basis After Roth Conversion following TIRA loss

I think I agree with retiredjg. What is the number on your 2014 8606 form line 14? That would be the IRA basis left over after your conversion from 2014. It may be that you started with $6500 basis, converted $6450 leaving you with $50 basis on line 14 which would carry over to line 2 on the 8606 fo...
by DSInvestor
Thu Feb 04, 2016 1:28 am
Forum: Personal Finance (Not Investing)
Topic: How to plan for 1099 income
Replies: 2
Views: 392

Re: How to plan for 1099 income

Welcome to the forum. The 1099 income will be reported on Schedules C and SE on your personal tax return. I assume your salary at your main job exceeds the Social security max. In this case, your self employment tax on the 1099 income will need to cover medicare taxes only which is about 2.9%. Sched...
by DSInvestor
Thu Feb 04, 2016 12:13 am
Forum: Personal Consumer Issues
Topic: Xfinity X1 Remote Question
Replies: 19
Views: 1273

Re: Xfinity X1 Remote Question

My mom switched to Comcast from ATT on Dec 24, 2015. I believe she has the comcast voice remote. The batteries in her remote died after 3 weeks. Not sure if comcast gave her a used system with old batteries or if the remote is defective. She just installed new batteries and we will see how long thes...
by DSInvestor
Wed Feb 03, 2016 11:36 pm
Forum: Investing - Help with Personal Investments
Topic: IRA/backdoor muckup - how to fix?
Replies: 3
Views: 220

Re: IRA/backdoor muckup - how to fix?

Assuming you have your 8606 forms filed with IRS, you're good to go with conversion. You can choose to convert an amount equal to IRA basis ($5000 in this case) and then rollover all remaining IRA assets into TSP before Dec 31, 2016. If form 8606 sees a non-zero balance on Dec 31, 2016, it will pro...
by DSInvestor
Wed Feb 03, 2016 11:31 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth with pro-rata tax issue
Replies: 8
Views: 468

Re: Backdoor Roth with pro-rata tax issue

I have a tIRA with $500 of deductible contributions in it from 1993 :D. Please clarify how much you have in the TIRA now before you add new contributions. Is your current TIRA balance a) $500 or b) is $500 the amount you contributed to TIRA in 1993 which may have grown to a larger amount? a) If $50...
by DSInvestor
Wed Feb 03, 2016 11:11 pm
Forum: Investing - Help with Personal Investments
Topic: IRA/backdoor muckup - how to fix?
Replies: 3
Views: 220

Re: IRA/backdoor muckup - how to fix?

File the 8606 for 2009 showing $5000 of basis added. Here's a link to a page at IRS.GOV where you can find prior year forms. https://www.irs.gov/Forms-&-Pubs#prior On that page, you will see a link for "List of Prior Year forms and pubs". Click on that link and you will be brought to a...
by DSInvestor
Wed Feb 03, 2016 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Return and Trad IRA Deductions
Replies: 3
Views: 225

Re: Tax Return and Trad IRA Deductions

When determining MAGI for Traditional IRA purposes , TIRA deduction is backed out of the Adjusted Gross Income. The spouse who is covered by employer plan is subject to the lower MAGI phase numbers of 98K- 118K. Let's start with no TIRA contributions for either of you and all other tax info entered....
by DSInvestor
Wed Feb 03, 2016 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: S. Corp Salary Amount and Retirement Contributions
Replies: 53
Views: 4541

Re: S. Corp Salary Amount and Retirement Contributions

Assuming a W-2 salary of $180K, is there a clear reason to have SEP-IRA instead Individual 401k, or the other way around? 180K W-2 Salary would allow you to max out a Solo 401k for 53K but it would not allow you to max out a SEP-IRA for 53K. SEP-IRA contributions can be up to 25% of W-2 salary whic...
by DSInvestor
Wed Feb 03, 2016 12:16 pm
Forum: Personal Consumer Issues
Topic: Xfinity X1 Remote Question
Replies: 19
Views: 1273

Re: Xfinity X1 Remote Question

In my experience from 2 years ago, the smart TV features/apps are inferior to what you get with a Roku, Apple TV or other streaming device. Poor user interface, sluggish performance etc. How well do the smart TV features work on your new TV? MUUUUUUUCH easier/integrated than switching the TV HDMI, ...
by DSInvestor
Wed Feb 03, 2016 12:33 am
Forum: Personal Finance (Not Investing)
Topic: Confused about income limits for traditional IRA deductions
Replies: 9
Views: 690

Re: Confused about income limits for traditional IRA deductions

For married filing jointly, combined MAGI is considered. See IRS page on IRA deduction limits. Not that there are different MAGI limits for a spouse who is covered by employer plan and spouse who is not covered. https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits Tax year 2015: For a spouse wh...
by DSInvestor
Tue Feb 02, 2016 9:12 pm
Forum: Personal Consumer Issues
Topic: Xfinity X1 Remote Question
Replies: 19
Views: 1273

Re: Xfinity X1 Remote Question

In my experience from 2 years ago, the smart TV features/apps are inferior to what you get with a Roku, Apple TV or other streaming device. Poor user interface, sluggish performance etc. How well do the smart TV features work on your new TV?
by DSInvestor
Tue Feb 02, 2016 3:25 pm
Forum: Investing - Help with Personal Investments
Topic: TLH timing question
Replies: 15
Views: 929

Re: TLH timing question

The 2016 tax return will handle any capital gains and losses realized in calendar 2016.
by DSInvestor
Sun Jan 31, 2016 10:14 pm
Forum: Investing - Help with Personal Investments
Topic: Fund/ETF's to use for tax loss harvesting from Vanguard funds
Replies: 8
Views: 319

Re: Fund/ETF's to use for tax loss harvesting from Vanguard funds

You TLH and exchange into your vanguard replacement funds without friction and time out of market. If you decide to go with ETFs or the Fidelity fund, you'd have have some time out of market a) when you first TLH and b) again when you switch back to your original holding. I'd keep it with Vanguard ...
by DSInvestor
Sun Jan 31, 2016 9:12 pm
Forum: Investing - Help with Personal Investments
Topic: Fund/ETF's to use for tax loss harvesting from Vanguard funds
Replies: 8
Views: 319

Re: Fund/ETF's to use for tax loss harvesting from Vanguard funds

VWIUX Intermediate term tax exempt -> VMLUX Limited Term tax exempt VTIAX Total International -> VFWAX FTSE All World ex-US VTSAX Total Stock Market -> VLCAX Large Cap Index -> VFIAX 500 Index Thanks for the excellent suggestions which keeps it all in the Vanguard funds. From a tax risk perspective...
by DSInvestor
Sun Jan 31, 2016 8:52 pm
Forum: Investing - Help with Personal Investments
Topic: Fund/ETF's to use for tax loss harvesting from Vanguard funds
Replies: 8
Views: 319

Re: Fund/ETF's to use for tax loss harvesting from Vanguard funds

VWIUX Intermediate term tax exempt -> VMLUX Limited Term tax exempt
VTIAX Total International -> VFWAX FTSE All World ex-US
VTSAX Total Stock Market -> VLCAX Large Cap Index -> VFIAX 500 Index
by DSInvestor
Sat Jan 30, 2016 3:38 am
Forum: Investing - Help with Personal Investments
Topic: Bonds in Roth not making sense
Replies: 9
Views: 952

Re: Bonds in Roth not making sense

You asked about Solo 401k in another thread. If you open a Solo 401k, use some of that space to hold your entire bond allocation.
by DSInvestor
Fri Jan 29, 2016 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Very simple IRA/401k question
Replies: 8
Views: 268

Re: Very simple IRA/401k question

Our MAGI is over $118k. Are you both covered by an employer plan? If not covered by employer plan but married to someone who is covered, the MAGI limit is 183-193K. Full deduction allowed if MAGI<183K for the non-covered spouse. If MAGI falls between 118K and 183K, one spouse (not covered) may be a...
by DSInvestor
Fri Jan 29, 2016 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Very simple IRA/401k question
Replies: 8
Views: 268

Re: Very simple IRA/401k question

at 118k and married you are eligible for only a "partial" deduction. https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/2016-IRA-Contribution-and-Deduction-Limits-Effect-of-Modified-AGI-on-Deductible-Contributions-If-You-ARE-Covered-by-a-Retirement-Plan-at-Work Why would you ...
by DSInvestor
Fri Jan 29, 2016 1:22 pm
Forum: Personal Consumer Issues
Topic: Utah Spring Break Planning
Replies: 6
Views: 418

Re: Utah Spring Break Planning

We are coming in from the North so Moab is a good option. Is it practical to stay in one place and do day trips to the parks or would it be better to stay right in the parks? The distances don't seem too excessive but I'd like to limit the car time to the extent possible. We stayed in Moab and did ...
by DSInvestor
Thu Jan 28, 2016 11:39 pm
Forum: Investing - Help with Personal Investments
Topic: Complete Backdoor Roth IRA Correctly?
Replies: 5
Views: 379

Re: Complete Backdoor Roth IRA Correctly?

SEP-IRA contributions are typically pre-tax which means IRA basis = zero for line 2. 8606 line 2 for IRA basis carried forward from prior years. Do you have IRA basis from prior years?
by DSInvestor
Thu Jan 28, 2016 9:46 pm
Forum: Personal Consumer Issues
Topic: Manual can opener recommendation
Replies: 45
Views: 2655

Re: Manual can opener recommendation

The America's Test Kitchen cookbook for 2016 recommends Fissler Magic Smooth-Edge Can Opener.
by DSInvestor
Thu Jan 28, 2016 9:39 pm
Forum: Investing - Help with Personal Investments
Topic: went over income limit for deductible ira, now what?
Replies: 5
Views: 438

Re: went over income limit for deductible ira, now what?

Thank you all. I just converted everything to my Roth to save any confusion. Vanguard rep walked me through steps on the website, very easy. I have an employer 401k and exceeded the income limits. Thanks for that update. Employer plan means you're subject to Traditional IRA deduction phase out. The...
by DSInvestor
Thu Jan 28, 2016 3:36 pm
Forum: Investing - Help with Personal Investments
Topic: went over income limit for deductible ira, now what?
Replies: 5
Views: 438

Re: went over income limit for deductible ira, now what?

Are you or your spouse covered by an employer plan at work? If not covered by employer plan, be aware that the income limits for the TIRA deduction do not apply and you'd be eligible to take the TIRA deduction no matter how high your income. Assuming your income allows Roth IRA contributions, you ca...
by DSInvestor
Thu Jan 28, 2016 12:05 am
Forum: Investing - Theory, News & General
Topic: Entire Portfolio Expense Ratio
Replies: 41
Views: 2031

Re: Entire Portfolio Expense Ratio

My portfolio's expense ratio is about 0.07%. I hold TSM er=0.05%, TISM er=0.14%, TBM er=0.07%.
by DSInvestor
Wed Jan 27, 2016 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA at different brokerage firms
Replies: 5
Views: 283

Re: SEP IRA at different brokerage firms

Thanks everyone for reply. Challenge is contribution is made each year on ongoing basis. In order to do rollover, I will have to keep Schwab account which doesn't have any assets after rollover. I am afraid that at some point, Schwab is going to notice that and close the account altogether. I have ...

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