Search found 1464 matches
- Thu Mar 22, 2018 12:35 pm
- Forum: Personal Finance (Not Investing)
- Topic: Employee Fiduciary Update - 15 months in
- Replies: 11
- Views: 1027
Re: Employee Fiduciary Update - 15 months in
To summarize: 1. If it is a small business with the min % contribution to eligible employees, EF was just fine since they don't need to do any testing and just do record keeping. 2. Any business that has profit sharing and/or more complex testing requirements that EF needs to do - EF currently has ...
- Thu Mar 22, 2018 9:47 am
- Forum: Personal Finance (Not Investing)
- Topic: Employee Fiduciary Update - 15 months in
- Replies: 11
- Views: 1027
Re: Employee Fiduciary Update - 15 months in
2, and really unforgivable in my experience - EF gave a 2nd HCE a higher contribution than all other participants other than the owner. EF didn't ask the owner how the other HCE was to be handled. I advised the owner to tell EF to give the HCE only the 3% SH contribution (NO PS contribution. This i...
- Thu Mar 22, 2018 9:28 am
- Forum: Personal Finance (Not Investing)
- Topic: Employee Fiduciary Update - 15 months in
- Replies: 11
- Views: 1027
Re: Employee Fiduciary Update - 15 months in
Can you engage EF as a recordkeeper only and then hire an outside TPA? I doubt it but maybe. Most TPAs might be willing to do testing (we called this wrap services but that term can have several meanings depending on the company you're talking to) and not recordkeeping but I don't know of any who a...
- Wed Mar 21, 2018 8:52 am
- Forum: Personal Finance (Not Investing)
- Topic: Employee Fiduciary Update - 15 months in
- Replies: 11
- Views: 1027
- Wed Mar 21, 2018 12:29 am
- Forum: Personal Finance (Not Investing)
- Topic: Employee Fiduciary Update - 15 months in
- Replies: 11
- Views: 1027
Employee Fiduciary Update - 15 months in
Since I have heaped quite a bit of praise on Employee Fiduciary since I signed up with them in 2017, I feel obligated to update the board on a few issues. I've always tried to understand how EF was able to offer such low rates and a premium service, and I think after this round of administration it'...
- Sun Feb 04, 2018 3:42 pm
- Forum: Investing - Theory, News & General
- Topic: why are people saying there is bond issues. BND only down 2% YTD
- Replies: 29
- Views: 3034
Re: why are people saying there is bond issues. BND only down 2% YTD
b) I thought bonds and stocks are inverse correlated. I'm not sure where this thought came from. There are lots of different types of bonds, treasury bonds, corporate bonds, municipal bonds, and within those categories, there are lot of different bond grades (with the exception of treasuries) and b...
- Sun Feb 04, 2018 11:32 am
- Forum: Personal Finance (Not Investing)
- Topic: 529 for private elementary school?
- Replies: 26
- Views: 1759
Re: 529 for private elementary school?
All it will take is for one state’s 529 plan to allow K-12 tuition, and anybody interested in a state refusing to allow them will head for the exits. Is there a precedent for this comment based on some other tax benefit? If I were in this situation, I would say, "man I wish I lived in that state." ...
- Tue Jan 30, 2018 4:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Reporting i401k contributions on 1120S
- Replies: 29
- Views: 1350
Re: Reporting i401k contributions on 1120S
I'm not sure what you want me to say here. I don't want to be disrespectful but I don't think you are interpreting the words correctly. My "argument" makes complete sense to me. If you want to apply Occam's Razor, have at it, but we are on the opposite sides of what exactly the simplest explanation...
- Tue Jan 30, 2018 11:54 am
- Forum: Personal Finance (Not Investing)
- Topic: Reporting i401k contributions on 1120S
- Replies: 29
- Views: 1350
- Tue Jan 30, 2018 11:09 am
- Forum: Personal Consumer Issues
- Topic: Buying This Week: IPhone X or IPhone 8 Plus
- Replies: 35
- Views: 3110
Re: Buying This Week: IPhone X or IPhone 8 Plus
I'd go with the X. Screen is pretty much the same on both but the actual phone is much larger with plus. As I've said previously on this thread, that might be true in theory (square inches), but in reality X is narrower and harder to read. The real estate is more valuable on the Plus The X is easie...
- Tue Jan 30, 2018 10:50 am
- Forum: Personal Finance (Not Investing)
- Topic: Reporting i401k contributions on 1120S
- Replies: 29
- Views: 1350
Re: Reporting i401k contributions on 1120S
^But the instructions for line 17 does state "or any other deferred compensation plan." It does say "deferred" but your comment ignores the first half of that sentence. I'm finished with this conversation because I feel comfortable in my stance and I don't think I'm going to change anyone's mind wh...
- Tue Jan 30, 2018 2:15 am
- Forum: Personal Finance (Not Investing)
- Topic: Reporting i401k contributions on 1120S
- Replies: 29
- Views: 1350
Re: Reporting i401k contributions on 1120S
Your argument makes no sense, because the part I didn't bold says; "or amounts contributed under a salary reduction SEP agreement or a SIMPLE IRA plan." So you are going to tell me that SARSEP and SIMPLE IRA employee deferrals do not get reported on lines 7&8, but 401k deferrals do? Not to mention ...
- Tue Jan 30, 2018 1:34 am
- Forum: Personal Finance (Not Investing)
- Topic: Reporting i401k contributions on 1120S
- Replies: 29
- Views: 1350
Re: Reporting i401k contributions on 1120S
Deferrals should be included under compensation on line 7 or 8 of the Form 1120. Line 17 is reserved for employER contributions. I understand that technically a salary deferral is an employER contribution made on behalf of the employEE but I can't recall seeing an accountant take this to mean defer...
- Mon Jan 29, 2018 9:33 pm
- Forum: Personal Consumer Issues
- Topic: Buying This Week: IPhone X or IPhone 8 Plus
- Replies: 35
- Views: 3110
Re: Buying This Week: IPhone X or IPhone 8 Plus
7 Plus then? I get the models mixed up.lazydavid wrote: ↑Sat Jan 27, 2018 7:18 amThere's no such thing as a 7s. They released the 8 instead.ERISA Stone wrote: ↑Fri Jan 26, 2018 12:18 amI've had the 6s Plus and the 7s Plus, and now I have the X.
- Mon Jan 29, 2018 9:32 pm
- Forum: Personal Finance (Not Investing)
- Topic: Reporting i401k contributions on 1120S
- Replies: 29
- Views: 1350
Re: Reporting i401k contributions on 1120S
Deferrals should be included under compensation on line 7 or 8 of the Form 1120. Line 17 is reserved for employER contributions. I understand that technically a salary deferral is an employER contribution made on behalf of the employEE but I can't recall seeing an accountant take this to mean deferr...
- Fri Jan 26, 2018 9:14 pm
- Forum: Personal Consumer Issues
- Topic: To take or not to take delivery of Tesla 3
- Replies: 700
- Views: 56498
Re: To take or not to take delivery of Tesla 3
I went through a test drive at Tesla yesterday. The salesman said they're being told the tax credit will start to phase out in May. It could be a ploy to sell me a car, but if so, I would think he would've picked an earlier month. Those guys often don't know what they're talking about from what I'v...
- Fri Jan 26, 2018 9:13 pm
- Forum: Personal Finance (Not Investing)
- Topic: Payoff 401K loan early?
- Replies: 35
- Views: 55159
Re: Payoff 401K loan early?
I never thought this was a good idea, plus the amount is very limiting, $50k, not a big amount to arbitrage one way or the other. But if you need money and has to do it then you have to do it. If you are only going to borrow money because the 401k loan is available, it's a bad idea. If you are goin...
- Fri Jan 26, 2018 1:28 pm
- Forum: Personal Finance (Not Investing)
- Topic: Payoff 401K loan early?
- Replies: 35
- Views: 55159
Re: Payoff 401K loan early?
How has no one pointed out the obvious? Taking loans out of 401(k)'s are extremely detrimental because of double taxation. Because it's not really true. https://thefinancebuff.com/401k-loan-double-taxation-myth.html most plans specify that you can't contribute to your plan while the loan is outstan...
- Fri Jan 26, 2018 11:49 am
- Forum: Personal Finance (Not Investing)
- Topic: Payoff 401K loan early?
- Replies: 35
- Views: 55159
Re: Payoff 401K loan early?
How has no one pointed out the obvious? Taking loans out of 401(k)'s are extremely detrimental because of double taxation. Because it's not really true. https://thefinancebuff.com/401k-loan-double-taxation-myth.html most plans specify that you can't contribute to your plan while the loan is outstan...
- Fri Jan 26, 2018 10:09 am
- Forum: Personal Consumer Issues
- Topic: Travel to Poland, Estonia, Lithuania: is it worth it?
- Replies: 29
- Views: 2487
Re: Travel to Poland, Estonia, Lithuania: is it worth it?
I lived in Poland for a while. At the time, it was a hidden gem. I don't think that's the case anymore. I was about 1.5 hours by train from Krakow and went there every time I had the chance. It's a great city. If you go to Poland, it should be a requirement to go to Auschwitz. It's an emotionally he...
- Fri Jan 26, 2018 12:18 am
- Forum: Personal Consumer Issues
- Topic: Buying This Week: IPhone X or IPhone 8 Plus
- Replies: 35
- Views: 3110
Re: Buying This Week: IPhone X or IPhone 8 Plus
I've had the 6s Plus and the 7s Plus, and now I have the X. I would be a little bummed if I had to go back to one of the plus sizes. I love the size of the X and it seems the screen seems to be crisper than the pluses. Also, I hardly ever use the camera but my wife is constantly getting asked if her...
- Wed Jan 24, 2018 7:09 pm
- Forum: Investing - Help with Personal Investments
- Topic: HCE/mega backdoor Roth risk?
- Replies: 14
- Views: 1026
Re: HCE/mega backdoor Roth risk?
I've mentioned this several times on the website but in practice, I have either seen 1 actual after-tax contribution or none. As time goes by, I really can't remember. I'm guessing I've been involved in reviewing testing on somewhere between 400-600 plans. The reality is after-tax contributions are...
- Wed Jan 24, 2018 10:14 am
- Forum: Investing - Help with Personal Investments
- Topic: HCE/mega backdoor Roth risk?
- Replies: 14
- Views: 1026
Re: HCE/mega backdoor Roth risk?
One observation I'll throw out there is that this ACP testing issue for HCEs hasn't received nearly enough mention in the various articles, blogs, etc. about the virtues of the mega backdoor Roth. Kind of surprising, at least to me, since it often (but not always, of course) suggests a fairly high ...
- Tue Jan 23, 2018 9:40 pm
- Forum: Personal Consumer Issues
- Topic: To take or not to take delivery of Tesla 3
- Replies: 700
- Views: 56498
Re: To take or not to take delivery of Tesla 3
I went through a test drive at Tesla yesterday. The salesman said they're being told the tax credit will start to phase out in May. It could be a ploy to sell me a car, but if so, I would think he would've picked an earlier month.
- Mon Jan 22, 2018 10:54 am
- Forum: Personal Finance (Not Investing)
- Topic: After Tax 401K, 401a Limits
- Replies: 15
- Views: 1344
Re: After Tax 401K, 401a Limits
What does your inclusion of 401k and 401a in the title mean. Are the two plans both 401k plans or a 401k and a 401a plan? 401a pre-tax contributions are considered mandatory contributions and are not included in the employee deferral limit. There is a separate annual addition limit (2018 = $55K) fo...
- Thu Jan 18, 2018 6:04 pm
- Forum: Personal Finance (Not Investing)
- Topic: Take a 401k Loan?
- Replies: 43
- Views: 2240
Re: Take a 401k Loan?
There is also a freeze period (3-6 months) that prevent you contributing to your 401k after you take a loan or distribution. While a plan can suspend 401k contributions when a participant takes a loan, this is not the norm. I believe you're thinking about hardship distributions. in which there is a...
- Wed Jan 17, 2018 12:05 pm
- Forum: Personal Finance (Not Investing)
- Topic: Spousal Solo401K Deposit Deadline Rules Different?
- Replies: 4
- Views: 294
Re: Spousal Solo401K Deposit Deadline Rules Different?
For additional information, please see Spirit Rider's post in the link about a qualified joint venture, assuming your wife isn't a W-2 employee.
viewtopic.php?t=209448
viewtopic.php?t=209448
- Wed Jan 17, 2018 10:55 am
- Forum: Personal Finance (Not Investing)
- Topic: Spousal Solo401K Deposit Deadline Rules Different?
- Replies: 4
- Views: 294
Re: Spousal Solo401K Deposit Deadline Rules Different?
If you are a sole proprietor you can make 401k contributions up to the filing deadline. If your wife was an S-corp, for example, and received W-2 income, the 401k contributions would have to be made through payroll. Since there is no payroll for a sole proprietor, this isn't an issue. For this state...
- Tue Jan 16, 2018 10:48 pm
- Forum: Investing - Help with Personal Investments
- Topic: How exactly is the $55,000 limit on a 401k counted?
- Replies: 1
- Views: 640
Re: How exactly is the $55,000 limit on a 401k counted?
Vesting isn’t considered for the limit. The contribution is considered for the year in which it is attributable. So even though the contribution is deposited in 2018, it’s considered for the 2017 annual additions limit.
- Mon Jan 15, 2018 7:47 pm
- Forum: Investing - Theory, News & General
- Topic: Best 401k Employer Match Structure
- Replies: 115
- Views: 9867
Re: Best 401k Employer Match Structure
I've worked for about a dozen companies in the past 32 years that I've worked as an electrical design engineer. I've made a bit of a study of 401k matching. Many of the startups I've worked for offer zero match. The highest match I've ever received was 8%. My current employer is a Fortune 500 compa...
- Mon Jan 15, 2018 6:43 pm
- Forum: Investing - Theory, News & General
- Topic: Best 401k Employer Match Structure
- Replies: 115
- Views: 9867
Re: Best 401k Employer Match Structure
My company matches 100% on 7% of compensation. 100% Vesting after 1 year. We also have a pension on 3-year vesting. The best I've heard is Saudi Aramco, which matches 9%. Best? Nope. Read the third post above this. TravelforFun I had one client who, IIRC, for anyone who made over $55k who was able ...
- Sun Jan 14, 2018 9:37 pm
- Forum: Personal Finance (Not Investing)
- Topic: Suggestions for Ideal 401k Fund Lineup
- Replies: 11
- Views: 753
Re: Suggestions for Ideal 401k Fund Lineup
total US total INTL total BND Vanguard or Fidelity Index TDF brokerage account for those that want to buy other fancy things anything past that is getting into the weeds. Our plan is with Employee Fiduciary. I selected the lineup above and added a REIT since I like to have approximately 5% of our p...
- Sun Jan 14, 2018 5:49 pm
- Forum: Personal Finance (Not Investing)
- Topic: Very Small Companies and HCE Tests
- Replies: 3
- Views: 380
Re: Very Small Companies and HCE Tests
I am exploring options for retirement savings, and discovered HCE (highly compensated employee) rules for 401(k) plans. In a company with very few employees who ALL own more than 5% of the company (as in every single employee is considered a HCE) does the IRS still expect HCEs to contribute not sig...
- Sun Jan 14, 2018 1:45 pm
- Forum: Personal Finance (Not Investing)
- Topic: Suggestions for Ideal 401k Fund Lineup
- Replies: 11
- Views: 753
Re: Suggestions for Ideal 401k Fund Lineup
total US total INTL total BND Vanguard or Fidelity Index TDF brokerage account for those that want to buy other fancy things anything past that is getting into the weeds. Our plan is with Employee Fiduciary. I selected the lineup above and added a REIT since I like to have approximately 5% of our p...
- Fri Jan 12, 2018 3:16 pm
- Forum: Investing - Help with Personal Investments
- Topic: 401k loan vs selling taxable
- Replies: 9
- Views: 580
Re: 401k loan vs selling taxable
Piggybacking on bberris....Not only would an 11 month loan from your 401k cause you to miss out on whatever gains, but you will be taxed twice. When you repay the 401k loan, you will be repaying with after-tax money. Then many years later when you take a formal distribution, you will be taxed on th...
- Fri Jan 12, 2018 3:12 pm
- Forum: Investing - Help with Personal Investments
- Topic: 401k loan vs selling taxable
- Replies: 9
- Views: 580
Re: 401k loan vs selling taxable
Allowing 401k loans to terminated participants? :shock: I'm glad you have the option but I'm having trouble fathoming a plan sponsor allowing this in a plan. What's the problem? The sponsor is not at risk. Yes, they are if they don't administer the loan properly. I don't know why an employer would ...
- Fri Jan 12, 2018 3:12 pm
- Forum: Investing - Theory, News & General
- Topic: Best 401k Employer Match Structure
- Replies: 115
- Views: 9867
Re: Best 401k Employer Match Structure
This wouldn't work for the average person. Very few people are able to trade in their salary for a 25% retirement benefit.capsaicinguy wrote: ↑Fri Jan 12, 2018 1:16 pm
AKA instead of paying someone 50k/year, offer 40k salary + 10k 401k contribution.
- Thu Jan 11, 2018 10:18 pm
- Forum: Investing - Help with Personal Investments
- Topic: 401k loan vs selling taxable
- Replies: 9
- Views: 580
Re: 401k loan vs selling taxable
Allowing 401k loans to terminated participants?
I'm glad you have the option but I'm having trouble fathoming a plan sponsor allowing this in a plan.

- Wed Jan 10, 2018 7:24 pm
- Forum: Investing - Help with Personal Investments
- Topic: Contribute to an Employer-Sponsored 401k with a Personal Check?
- Replies: 6
- Views: 376
Re: Contribute to an Employer-Sponsored 401k with a Personal Check?
Thank you all for sharing your advice. Sounds like life will go on, but not with this paycheck going toward her 401k. I know it's frustrating but doesn't this just mean your wife will hit the maximum deferral one paycheck later? It shouldn't have any effect on a match. That's the reasons I omitted....
- Wed Jan 10, 2018 7:11 pm
- Forum: Investing - Help with Personal Investments
- Topic: Contribute to an Employer-Sponsored 401k with a Personal Check?
- Replies: 6
- Views: 376
Re: Contribute to an Employer-Sponsored 401k with a Personal Check?
You can't do this. The participant cannot have access to the funds to be contributed to the plan.
I know it's frustrating but doesn't this just mean your wife will hit the maximum deferral one paycheck later? It shouldn't have any effect on a match.
I know it's frustrating but doesn't this just mean your wife will hit the maximum deferral one paycheck later? It shouldn't have any effect on a match.
- Wed Jan 10, 2018 2:13 pm
- Forum: Investing - Help with Personal Investments
- Topic: 401k withdrawl question for a friend...
- Replies: 8
- Views: 601
Re: 401k withdrawl question for a friend...
His plan would have to allow for hardship withdrawals if he is still employed. there are specific uses that qualify, see below. As you note, the money would be added to his income and he'd pay taxes. If he's over 59.5, the 10% extra penalty would not apply His company may also support 401(K) loans,...
- Tue Jan 09, 2018 1:08 am
- Forum: Personal Consumer Issues
- Topic: Car recommendations needed for growing family
- Replies: 34
- Views: 2244
Re: Car recommendations needed for growing family
Yes. Minivans are functional. SUVs are raised station wagons that get worse mileage, handle worse, cost way more, etc. Get a family hauler and then a commuter - maybe even a used Leaf? If you can get by with short range, they are dirt cheap and require little maintenance. Used Prius is a good bet f...
- Mon Jan 08, 2018 12:57 pm
- Forum: Personal Consumer Issues
- Topic: Are Password Managers Really Necessary?
- Replies: 129
- Views: 7704
Re: Are Password Managers Really Necessary?
In practice we know otherwise. Proof? Just google "Password Manager breach" and read about the breaches at OnePass, LastLogin, etc. Some of the most secure banks have been hacked along with one of the big-three credit report agencies - google "breach", "hacked", etc and you can find lots of stories...
- Mon Jan 08, 2018 12:33 pm
- Forum: Personal Consumer Issues
- Topic: Are Password Managers Really Necessary?
- Replies: 129
- Views: 7704
Re: Are Password Managers Really Necessary?
TravelGeek wrote: ↑Mon Jan 08, 2018 12:29 pm
It is not best practice to require (or change voluntarily) passwords periodically.
Is this true? I've always read you should change your passwords every six months or so, especially those related to financial institutions.
- Mon Jan 08, 2018 12:06 pm
- Forum: Personal Consumer Issues
- Topic: New York City Restaurant Week Suggestions
- Replies: 15
- Views: 948
Re: New York City Restaurant Week Suggestions
For pastries, I recommend Veniero's. It's near where I stay and I usually get something from there every day I'm in NYC. And I have the weight progression spreadsheet to prove it. 

- Mon Jan 08, 2018 12:03 pm
- Forum: Personal Consumer Issues
- Topic: Are Password Managers Really Necessary?
- Replies: 129
- Views: 7704
- Mon Jan 08, 2018 11:44 am
- Forum: Personal Consumer Issues
- Topic: Are Password Managers Really Necessary?
- Replies: 129
- Views: 7704
Re: Are Password Managers Really Necessary?
Yes. Absolutely. I have used password managers for over ten years. Absolutely cannot imagine not using one. How do you keep track of dozens (or in my case, > hundred) of credentials (username, password, answers to secret questions, account numbers) in a secure way? I'll answer your question with a ...
- Mon Jan 08, 2018 11:07 am
- Forum: Personal Consumer Issues
- Topic: Teeth Whitening
- Replies: 23
- Views: 2750
Re: Teeth Whitening
does this include hydrogen peroxide as well?
- Mon Jan 08, 2018 11:05 am
- Forum: Personal Consumer Issues
- Topic: Are Password Managers Really Necessary?
- Replies: 129
- Views: 7704
Re: Are Password Managers Really Necessary?
I have 82 credentials currently stored in my password manager between personal and business. It was getting to be quite a chore to keep up with all of those passwords, assuming one takes the time to use different passwords and doesn't use the same one for each site. I think what makes this all the ...
- Mon Jan 08, 2018 11:00 am
- Forum: Forum Issues and Administration
- Topic: Help me understand question-less financial status (e.g. "2 comma club") threads.
- Replies: 175
- Views: 9960
Re: Help me understand question-less financial status (e.g. "2 comma club") threads.
I already think the "actionable" component of the website is arbitrary and frankly infuriating. I can't tell you how many times I've been chugging along a thread that is relevant to me only to have moderators cut it off. Then I see about 20% of the titles in the thread list and know that they can't ...