Search found 3055 matches

by Gill
Mon Apr 24, 2017 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Looking For Advice - Move NY -> Tampa?
Replies: 13
Views: 946

Re: Looking For Advice - Move NY -> Tampa?

2Birds1Stone wrote:If I am making $120k on Long Island, vs. $100-110k in Tampa. Would the COL and lack of state taxes close the gap to make this a wash?

I relocated from Western New York to Southwest Florida many years ago and it more than closed the gap. Coming from NYC it certainly would.
Gill
by Gill
Mon Apr 24, 2017 11:57 am
Forum: Personal Consumer Issues
Topic: Cost of Estate Planning
Replies: 8
Views: 526

Re: Cost of Estate Planning

I don't see how people on Bogleheads can help you with this. So much depends on your skill level, experience and geographical location. I would think the prevailing hourly rate for estate planning in your location would be the controlling factor. Are you planning to acquire the requisite skills your...
by Gill
Mon Apr 24, 2017 9:41 am
Forum: Investing - Help with Personal Investments
Topic: Best Place to Park Over $1m in Cash
Replies: 28
Views: 2028

Re: Best Place to Park Over $1m in Cash

TheodoreMonit wrote:
Gill wrote:US Treasury Bills.
Gill


Thanks Gill. Do you invest in T-bills directly or use some sort of fund?

I'd buy them direct and then sell them off as you need funds. Complete safety and liquidity.
Gill
by Gill
Mon Apr 24, 2017 9:37 am
Forum: Personal Consumer Issues
Topic: Becoming a homeowner/landlord in a college town?
Replies: 28
Views: 2026

Re: Becoming a homeowner/landlord in a college town?

Your description of the town sounds like Ithaca where I once rented as a Cornell law student. There is no way I would consider being an owner of such a place. Gill You mean you never aspired to be a Collegetown slumlord? :wink: Spent two years in an apartment at the top of Williams Street back in t...
by Gill
Mon Apr 24, 2017 9:29 am
Forum: Investing - Help with Personal Investments
Topic: Best Place to Park Over $1m in Cash
Replies: 28
Views: 2028

Re: Best Place to Park Over $1m in Cash

US Treasury Bills.
Gill
by Gill
Mon Apr 24, 2017 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage at 75 ?
Replies: 15
Views: 1578

Re: Mortgage at 75 ?

The good thing about a big mortgage at that age is that you when you go to the great beyond you will leave the bank with your debt, and in the meantime enjoy a better house. This sounds like a plan to me. Oh really? What makes you think the lien on the property is extinguished and the estate is not...
by Gill
Sun Apr 23, 2017 8:22 pm
Forum: Personal Consumer Issues
Topic: interesting things to see/do in Victoria and Vancouver, Canada
Replies: 17
Views: 724

Re: interesting things to see/do in Victoria and Vancouver, Canada

We enjoyed a hop-on hop-off bus tour of Vancouver. There's much to see and you can come and go as you please the entire day. The Empress Hotel in Victoria is worth seeing.
Gill
by Gill
Sun Apr 23, 2017 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Is this tax deductible?
Replies: 19
Views: 1080

Re: Is this tax deductible?

LadyGeek wrote:FYI - I fixed the thread title spelling from "deductable" to "deductible".

Thanks, it was bugging me. :happy
Gill
by Gill
Sun Apr 23, 2017 7:36 pm
Forum: Personal Consumer Issues
Topic: Becoming a homeowner/landlord in a college town?
Replies: 28
Views: 2026

Re: Becoming a homeowner/landlord in a college town?

Your description of the town sounds like Ithaca where I once rented as a Cornell law student. There is no way I would consider being an owner of such a place.
Gill
by Gill
Sun Apr 23, 2017 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Before Tax Donations to a Donor Advised Fund?
Replies: 6
Views: 435

Re: Before Tax Donations to a Donor Advised Fund?

No, not until you're required to take RMD and even then you can't contribute to a DAF.
Gill
by Gill
Sun Apr 23, 2017 4:06 pm
Forum: Personal Consumer Issues
Topic: Buying weekend home: suburbs or rural? (yard privacy important)
Replies: 24
Views: 1869

Re: Buying weekend home: suburbs or rural? (yard privacy important)

Watty's description sounds exactly like what we experienced with a mountain cabin in North Georgia, about 100 miles from Atlanta. Medical care can be a major problem in rural areas because the specialists congregate in the big cities.
Gill
by Gill
Sun Apr 23, 2017 3:34 pm
Forum: Investing - Theory, News & General
Topic: Is $20K I-Bonds considered cash or bond?
Replies: 44
Views: 2418

Re: Is $20K I-Bonds considered cash or bond?

Leif wrote:The answer can be found after the "I-".

:happy :happy :happy :sharebeer
by Gill
Sun Apr 23, 2017 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Lowering service price for charity, tax writeoff?
Replies: 7
Views: 439

Re: Lowering service price for charity, tax writeoff?

No, the difference is not deductible. You can't deduct the value of personal services.
Gill
by Gill
Sun Apr 23, 2017 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage at 75 ?
Replies: 15
Views: 1578

Re: Mortgage at 75 ?

I got a 30 year mortgage at age 73 but have since paid it off. The loan made tax sense to me at the time. Very few 30 year mortgages go to maturity.
Gill
by Gill
Sun Apr 23, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Is this tax deductible?
Replies: 19
Views: 1080

Re: Is this tax deductible?

island wrote:
Artsdoctor wrote:No. You cannot deduct being nice from your taxes.

Hmmm, something you shouldn't have to worry about. Thanks for the snarky response. :twisted:

I don't think he was being snarky. Just a clever way of describing the tax law.
Gill
by Gill
Sun Apr 23, 2017 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust
Replies: 24
Views: 1070

Re: Irrevocable Trust

Thanks bsteiner, We are in process of trying to get a copy of the trust. Getting all 5 beneficiaries to agree and sign off may be tricky, we have a minor child involved of the deceased brother. Yes, the minor child could be a problem but it is quite likely the instrument doesn't require the consent...
by Gill
Sat Apr 22, 2017 8:49 pm
Forum: Investing - Theory, News & General
Topic: How would tax bracket changes affect the value of munis?
Replies: 7
Views: 629

Re: How would tax bracket changes affect the value of munis?

Your point is correct assuming nothing else changes. Municipalities are able to issue bonds at lower rates because of the tax advantage to bond holders.
Gill
by Gill
Sat Apr 22, 2017 8:36 pm
Forum: Investing - Theory, News & General
Topic: Location of SPIAs, which account?
Replies: 49
Views: 1948

Re: Location of SPIAs, which account?

A little more of 3.5% in total fees. Includes death benefit, option to exit this annuity for another annuity, fund fees, guaranty fees,GLWB fee, and Guaranteed income option fee. Currently appears to be worth the expense. Whether we will leave more to our heirs using this method is TBD :annoyed :oo...
by Gill
Sat Apr 22, 2017 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust
Replies: 24
Views: 1070

Re: Irrevocable Trust

Your wife is not entitled to know what this says until both of the trustors die. You don't know this for sure, Celia. Depends on state law, the terms of the trust and the nature of the remainder interest. Gill Is there really such a thing as a trust where the beneficiaries are entitled to know what...
by Gill
Sat Apr 22, 2017 5:43 pm
Forum: Investing - Theory, News & General
Topic: Location of SPIAs, which account?
Replies: 49
Views: 1948

Re: Location of SPIAs, which account?

We did our deferred annuities in qualified IRA accounts :D :mrgreen: :greedy :greedy :greedy The OP is talking about SPIA's, not deferred annuities. By the way, why would you put a deferred annuity in an IRA wrapper when the taxation in the IRA is already tax deferred? Gill It's still an annuity. T...
by Gill
Sat Apr 22, 2017 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust
Replies: 24
Views: 1070

Re: Irrevocable Trust

celia wrote:Your wife is not entitled to know what this says until both of the trustors die.

You don't know this for sure, Celia. Depends on state law, the terms of the trust and the nature of the remainder interest.
Gill
by Gill
Sat Apr 22, 2017 4:01 pm
Forum: Investing - Theory, News & General
Topic: Location of SPIAs, which account?
Replies: 49
Views: 1948

Re: Location of SPIAs, which account?

itstoomuch wrote:We did our deferred annuities in qualified IRA accounts :D :mrgreen: :greedy :greedy :greedy

The OP is talking about SPIA's, not deferred annuities. By the way, why would you put a deferred annuity in an IRA wrapper when the taxation in the IRA is already tax deferred?
Gill
by Gill
Sat Apr 22, 2017 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust
Replies: 24
Views: 1070

Re: Irrevocable Trust

My sister inlaw is the trustee, I got a bad feeling the 150 year old family farm will need to be sold to settle the assest distribution. Sad Thanks Gill She should be willing to share the language of the trust with your wife who is also a beneficiary. Yes, I'm sure it would be sad to have to sell i...
by Gill
Sat Apr 22, 2017 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust
Replies: 24
Views: 1070

Re: Irrevocable Trust

Who is the trustee? Are you sure the trust is irrevocable now or does it become irrevocable at their deaths? I agree with your guess, however, that it is very likely the trust provides for the grandchildren in the even one of the children predeceases.
Gill
by Gill
Sat Apr 22, 2017 3:42 pm
Forum: Personal Consumer Issues
Topic: Recommendation for Adults-only All-Inclusive resort/hotel?
Replies: 21
Views: 2101

Re: Recommendation for Adults-only All-Inclusive resort/hotel?

Are you locked into the Caribbean or Mexico? For a July vacation there is the the entire North American continent to choose from, many places which I would consider more desirable and cheaper than the Caribbean.
Gill
by Gill
Sat Apr 22, 2017 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable Trust
Replies: 24
Views: 1070

Re: Irrevocable Trust

Yes, irrevocable normally means the trust can't be amended by the creator of the trust, or anyone for that matter. The answer to your question depends on the language of the trust. In most instances trusts of this type provide for a per stirpes distribution, which means the children of the deceased ...
by Gill
Sat Apr 22, 2017 9:23 am
Forum: Investing - Help with Personal Investments
Topic: Taxation of Treasury Bills (Question)
Replies: 8
Views: 533

Re: Taxation of Treasury Bills (Question)

It would seem that it is all capital gain or loss. For example, say I buy a TBill at a price of 99.5 and sell the day before maturity at 99.9. Is this a capital gain? Now, if instead I hold it another day and it matures at 100, is it (the price gain) now ordinary income? No, there is an interest co...
by Gill
Thu Apr 20, 2017 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: How to Handle Taxes on One Time Windfall (sale)
Replies: 13
Views: 926

Re: How to Handle Taxes on One Time Windfall (sale)

Some misleading answers above. Yes, pay in 110% of your 2016 tax in four installments. You can still mail your first quarter payment due two days ago and there shouldn't be a problem. At the worst you might be charged two days penalty on the one quarter payment.
Gill
by Gill
Thu Apr 20, 2017 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 4855

Re: Bill received after Estate is closed

carolinaman wrote:Nothing about attorneys ever surprises me.

Me either, even though I "is" one. :happy
Gill
by Gill
Wed Apr 19, 2017 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 4855

Re: Bill received after Estate is closed

Then why not say the estate hired. The no contract part is what could open up the can of worms. The personal representative retains the attorney to represent the estate. The client is the personal representative in that capacity, not individually. Accordingly, the estate is liable for the fees, not...
by Gill
Wed Apr 19, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 4855

Re: Bill received after Estate is closed

"I hired my Attorney (no contract signed)" I think this is where your problem starts. He was working for you personally not the estate. I disagree respectfully. The attorney was working for the estate on behalf of the executor. The estate pays the attorney not the executor. I believe what...
by Gill
Wed Apr 19, 2017 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 4855

Re: Bill received after Estate is closed

My thoughts are... If they calculated the distribution and failed to account for the probate expenses they are at fault. The estate is now closed with the courts and no longer exists and you have no further obligation. Had any other creditor failed to file in a timely fashion according to the rules...
by Gill
Wed Apr 19, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 4855

Re: Bill received after Estate is closed

Unfortunately I think you will have to pay the guy. This is what lawyers love about probate. They get paid even for low cost estates where there should be no probate. People don't know what is needed so lawyers just file everything and bill the hours. I got scr**ed just like this for my Dads' estat...
by Gill
Wed Apr 19, 2017 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Bill received after Estate is closed
Replies: 55
Views: 4855

Re: Bill received after Estate is closed

When the associate calculated the distribution, didn't he keep a reserve for final expenses including attorney fees? If not, his work was awfully sloppy. I assume the estate is closed and the executor has been discharged. There are others with more experience in this, but my thought would be the att...
by Gill
Tue Apr 18, 2017 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Taxes- okay to just drop in the mail today??
Replies: 29
Views: 3050

Re: Taxes- okay to just drop in the mail today??

rotorhead wrote:As long as the envelope is postmarked not later than April 17th, you're OK. It's up to you to make sure it gets marked.

April 18th this year.
Gill
by Gill
Mon Apr 17, 2017 8:05 pm
Forum: Personal Consumer Issues
Topic: Is my electric bill high?
Replies: 58
Views: 4661

Re: Is my electric bill high?

I don't think pool pumps use all that much power based on 40 years of having several in Florida. Air conditioning is the big factor in Southern areas.
Gill
by Gill
Mon Apr 17, 2017 7:58 pm
Forum: Personal Consumer Issues
Topic: Is my electric bill high?
Replies: 58
Views: 4661

Re: Is my electric bill high?

I think the key is the price you pay per kWh which seems to be 20 cents. This is about double the price in this part of Florida which is about 10 cents per kWh. My high bills for the year are about $300 which is with a 4,200 square foot house, two A/C units, two water heaters, four refrigerators and...
by Gill
Mon Apr 17, 2017 7:39 pm
Forum: Personal Consumer Issues
Topic: Best cruise
Replies: 50
Views: 3604

Re: Best cruise

Unless you enjoy hundreds of kids, of all ages, you might want to avoid sailings during Christmas break.
Gill
by Gill
Mon Apr 17, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Trust Services
Replies: 52
Views: 3744

Re: Trust Services

I spent my career in the trust business but I won't attempt to answer all your questions other than to urge you to have a professional trustee manage your assets separate from the guardian of your children. Any of the options you mention could be good depending on your needs and the size of the trus...
by Gill
Mon Apr 17, 2017 3:25 pm
Forum: Investing - Help with Personal Investments
Topic: Donor advised fund - Fidelity or Schwab?
Replies: 8
Views: 544

Re: Donor advised fund - Fidelity or Schwab?

Likewise as above with Fidelity. I have no other accounts with them other than the DAF which I've had for seven years. Very pleased with the overall ease of use and service. Have made three gifts from Vanguard to the Fidelity DAF and each took a week or so to complete. Making grants from the DAF can...
by Gill
Mon Apr 17, 2017 11:24 am
Forum: Personal Consumer Issues
Topic: helping parent sell their car
Replies: 16
Views: 1190

Re: helping parent sell their car

You don't have to go through the charade of using nominal consideration. Just have her transfer it to you or, better yet, endorse the title in blank which you can then deliver to a buyer. Gill Please clarify - she would sign the title over, leaving the purchaser blank? It would be nice to not have ...
by Gill
Mon Apr 17, 2017 11:18 am
Forum: Personal Consumer Issues
Topic: helping parent sell their car
Replies: 16
Views: 1190

Re: helping parent sell their car

You don't have to go through the charade of using nominal consideration. Just have her transfer it to you or, better yet, endorse the title in blank which you can then deliver to a buyer.
Gill
by Gill
Sun Apr 16, 2017 7:30 pm
Forum: Personal Consumer Issues
Topic: how much is reasonable amount to spend [on gymnastics]
Replies: 42
Views: 3016

Re: how much is reasonable amount to spend

Much to my surprise, the OP appears to be the mother based on earlier posts.
Gill
by Gill
Sun Apr 16, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Is spending 15K to furnish home too much?
Replies: 39
Views: 4253

Re: Is spending 15K to furnish home too much?

I really don't know how you can get away with $15,000 furnishing an entire house and do it well. If you can, congratulations to you. It's not hard to spend that much on one room.
Gill
by Gill
Sun Apr 16, 2017 10:08 am
Forum: Personal Consumer Issues
Topic: New phone..any advantages to buying at Costco?
Replies: 24
Views: 2939

Re: New phone..any advantages to buying at Costco?

I bought my last IPhone from Costco. The price seems to be fixed by Apple and they don't allow discounts. However, Costco threw in a portable charger worth, I think, about fifty bucks which seems to be their way of discounting.
Gill
by Gill
Sat Apr 15, 2017 8:03 pm
Forum: Investing - Help with Personal Investments
Topic: 1-Million Dollar Question
Replies: 11
Views: 3036

Re: 1-Million Dollar Question

Advice is to review this plan with his CPA or an estate planning attorney who understands taxation. Review the maximum gift amount each year (without taxation), it's $14,000 per individual for 2017. You don't want to make a mistake in this year with moving this account. Once it is set up, hopefully...
by Gill
Sat Apr 15, 2017 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: How to Avoid Tax Refund Being Seized
Replies: 37
Views: 4232

Re: How to Avoid Tax Refund Being Seized

Designate your 2016 over payment to go to next year's estimated tax and then reduce your withholding by an appropriate amount. :idea: This sounds like the best idea so far, to me. Nice try, but it will not work. Refund offsets are on the 2016 Form 1040 line 75 the amount you overpaid . This is befo...
by Gill
Sat Apr 15, 2017 5:27 pm
Forum: Investing - Help with Personal Investments
Topic: Capital Gains on Real Estate Sale
Replies: 6
Views: 750

Re: Capital Gains on Real Estate Sale

Are you sure of your basis? I see you've owned it for over 25 years.
Gill
by Gill
Sat Apr 15, 2017 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to Avoid Tax Refund Being Seized
Replies: 37
Views: 4232

Re: How to Avoid Tax Refund Being Seized

Seems to me the solution is very simple; Adjust your withholding so there is no refund and you owe a bit.
Gill
by Gill
Wed Apr 12, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: tax strategy for side income
Replies: 6
Views: 618

Re: tax strategy for side income

livesoft wrote: A "sole proprietorship" is not a company.

It's not a corporation but it can certainly fall within the definition of a company.
Gill

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