Search found 653 matches

by Hayden
Thu Jan 28, 2016 8:48 pm
Forum: Personal Consumer Issues
Topic: Should I forward mail to Spain
Replies: 10
Views: 894

Re: Should I forward mail to Spain

For two months, I think I would just find someone to empty my mailbox once a week and set up any bills that will occur during that time to be paid automatically or send you notification via email so you can pay them online. It takes me three weeks at times to send a letter to England from here so a...
by Hayden
Thu Jan 28, 2016 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Ordinary loss or Section 1231 loss on company car
Replies: 3
Views: 261

Re: Ordinary loss or Section 1231 loss on company car

It could be both. The rule is that if your section 1231 loses exceed your section 1231 gains then the net loss is ordinary. If gains exceed losses, then the net gain is capital. Congress intended this to be a best of both worlds type result (net gains capital, net losses ordinary) as a sop to the l...
by Hayden
Thu Jan 28, 2016 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Ordinary loss or Section 1231 loss on company car
Replies: 3
Views: 261

Ordinary loss or Section 1231 loss on company car

My S Corp sold a car this year. The CPA prepared the 1120S. The sale of the car is reported on the K-1, Box 17 Code K.

When i enter the K-1 in Turbotax, it records the loss on the sale of the car as a Section 1231 loss. I expected it to be an ordinary loss.

Is this correct?
by Hayden
Thu Jan 28, 2016 12:35 pm
Forum: Personal Consumer Issues
Topic: Should I forward mail to Spain
Replies: 10
Views: 894

Should I forward mail to Spain

Now that I am semi-retired, I am getting ready to go to Spain for two months. I have set up my mail to all go to a UPS commercial mail box. They say they will forward mail to me anywhere. Should I forward the mail to Spain? Is mail shipment to Spain fast and reliable? If it takes a long time to arri...
by Hayden
Tue Jan 26, 2016 11:31 am
Forum: Personal Consumer Issues
Topic: Do you pay for exercise?
Replies: 216
Views: 11513

Re: Do you pay for exercise?

No. Walking is free. You can walk slowly or quickly. For a more vigorous workout, walk up a hill. Treadmills are dreadfully boring without a workout partner, and the air is stale. Outside, the air smells fresher (except at rush hour on a humid summer day). The scenery is stimulating too. I can walk...
by Hayden
Fri Jan 22, 2016 8:26 pm
Forum: Personal Consumer Issues
Topic: TurboTax / Tax Audit.com <<<WARNING>>>
Replies: 9
Views: 1694

Re: TurboTax / Tax Audit.com <<<WARNING>>>

Thanks for posting. I buy it every year through TT. It hadn't occurred to me to buy it direct.
by Hayden
Tue Jan 19, 2016 12:23 pm
Forum: Personal Consumer Issues
Topic: Business Insurance Estimates?
Replies: 3
Views: 175

Re: Business Insurance Estimates?

The workers comp cost is State dependent.
by Hayden
Sun Jan 17, 2016 1:00 pm
Forum: Investing - Theory, News & General
Topic: I'm Calling an Emerging Markets Bottom
Replies: 127
Views: 12463

Re: I'm Calling an Emerging Markets Bottom

I don't tilt. My nominal allocation to EM is market weights as shown by the Vanguard Portfolio Watch tool. Vanguard and Morningstar have different definitions of the countries that they say have EM stock markets, so take that into account, too. Thanks. The difference between M* and Vanguard is what...
by Hayden
Sun Jan 17, 2016 11:49 am
Forum: Investing - Theory, News & General
Topic: I'm Calling an Emerging Markets Bottom
Replies: 127
Views: 12463

Re: I'm Calling an Emerging Markets Bottom

I'm trying to figure out what my EM target weight should be. From looking at M*, it looks like EM is about 7% of world stock. About 14% of international stock. My AA calls for 30% US stock, 20% International stock. That would suggest about a 3% allocation to EM. For those who tilt, what allocation t...
by Hayden
Fri Jan 15, 2016 11:34 am
Forum: Investing - Theory, News & General
Topic: I'm Calling an Emerging Markets Bottom
Replies: 127
Views: 12463

Re: I'm Calling an Emerging Markets Bottom

OK, I will ask my spouse to invest her 2016 Roth IRA contribution 100% into emerging markets. Which ETF should she choose: VWO, DGS, or EWX? She intends to invest today. :-) DGS, it's a nice RBD today too! OK, transaction completed. Thanks! I'm planning on following you today, buying emerging marke...
by Hayden
Thu Jan 14, 2016 10:34 am
Forum: Personal Finance (Not Investing)
Topic: IRS IP PIN Received Today but for Tax Year 2014?
Replies: 28
Views: 2616

Re: Finally got my IRS IP PIN and .....

How did you get the PIN?

I received a letter telling me they had placed an identity theft indicator on my account, and instructing me to go to a website to request a PIN. But, the website was down, so I could not request the PiN.
by Hayden
Sun Jan 10, 2016 1:38 pm
Forum: Investing - Help with Personal Investments
Topic: TLH in 15% bracket--ever worth it?
Replies: 19
Views: 1160

Re: TLH in 15% bracket--ever worth it?

I've been fiddling with Taxcaster to predict my 2016 taxes. It says I'm in the 15% bracket. Then i play with adding or subtracting capital gains. It changes the outcome by 20% - 30%, depending on the numbers. E.g., I add $1000 in capital gain and the tax owed goes up by $310. Not at all what I expe...
by Hayden
Sun Jan 10, 2016 12:46 pm
Forum: Investing - Help with Personal Investments
Topic: TLH in 15% bracket--ever worth it?
Replies: 19
Views: 1160

Re: TLH in 15% bracket--ever worth it?

I've been fiddling with Taxcaster to predict my 2016 taxes. It says I'm in the 15% bracket. Then i play with adding or subtracting capital gains. It changes the outcome by 20% - 30%, depending on the numbers. E.g., I add $1000 in capital gain and the tax owed goes up by $310. Not at all what I expec...
by Hayden
Thu Jan 07, 2016 4:08 pm
Forum: Investing - Help with Personal Investments
Topic: I chose to reinvest to fund, but received a check for the dividend
Replies: 9
Views: 533

Re: I chose to reinvest to fund, but received a check for the dividend

This happened to me at Vanguard a few years back. I called them, and they said they would fix it. It happened again the following quarter. I called them again. It hasn't happened since. Vanguard seems to have a subtle bug in their system where this occasionally happens. Call them each time it occur...
by Hayden
Thu Jan 07, 2016 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Existing LLC filing as an S-corp for the first time
Replies: 11
Views: 374

Re: Existing LLC filing as an S-corp for the first time

We have been a business for a number of years as an LLC filing as a partnership. We are looking to change this year to an LLC filing as an S-Corp. We are doing so because we realize there is some savings in declaring some portion of what we receive as distributions. We are finding it difficult to f...
by Hayden
Tue Jan 05, 2016 12:29 pm
Forum: Personal Consumer Issues
Topic: How often does your credit card # get stolen?
Replies: 57
Views: 2167

Re: How often does your credit card # get stolen?

Never happened to me
by Hayden
Tue Jan 05, 2016 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance for millionaires?
Replies: 61
Views: 5219

Re: Insurance for millionaires?

An interesting question is at well level of net worth can someone self-insure for LTC. That depends on how much long term care would cost and what other expenses you would have if you were in LTC. It should be possible to determine how much that would be today. You can then make a guess as to futur...
by Hayden
Tue Jan 05, 2016 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning for Person who has no dependents
Replies: 3
Views: 337

Re: Estate Planning for Person who has no dependents

I keep very precise records. BTW, I worry less about your "kick the bucket" scenario than a case where I am suddenly incapacitated (car accident, stroke, etc) and someone needs to step in and manage things for me.
by Hayden
Mon Jan 04, 2016 12:11 am
Forum: Personal Finance (Not Investing)
Topic: Simplifying SMLLC-Taxed-As-SCorp: Payroll, 1040-ES
Replies: 5
Views: 309

Re: Simplifying SMLLC-Taxed-As-SCorp: Payroll, 1040-ES

I don't see how your plan helps you. You still have to submit payroll taxes and file the 941 each quarter. Since you're doing that, why wouldn't you just do withholding?

If you want to save yourself effort, withhold enough that you don't need to do the 1040ES.
by Hayden
Thu Dec 31, 2015 3:38 pm
Forum: Investing - Help with Personal Investments
Topic: Roll Call for Tax-Loss Harvesting Class of 2015
Replies: 62
Views: 2379

Re: Roll Call for Tax-Loss Harvesting Class of 2015

Me too. TLH total international, and then later in the year, TLH again to get back to total international.
by Hayden
Thu Dec 31, 2015 3:35 pm
Forum: Personal Consumer Issues
Topic: Overcharged by car dealership
Replies: 6
Views: 1068

Overcharged by car dealership

Bought a new car earlier this year. Today i'm doing taxes, so went through the retail purchase agreement to get the sales tax amount. I noticed that the number for the sales tax wasn't right. So, I added up the column of numbers on the form. It turns out, the bottom line number (the amount we paid) ...
by Hayden
Thu Dec 31, 2015 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Role of CPA
Replies: 25
Views: 1845

Re: Role of CPA

I used to be frustrated with my CPA for not suggesting things that could help me, even though I asked for his advice. For example, in 2008/2009 I had large capital losses. He did not suggest TLH. I did not do any tax loss harvesting, which is now costing me :oops: I finally decided that I am better ...
by Hayden
Tue Dec 29, 2015 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Using professional help vs DIY for small business corp
Replies: 12
Views: 1335

Re: Using professional help vs DIY for small business corp

The first 2 months (and first cycle for each tax filing requirement) will take you longer, but after that, processing payroll for an solo owner-employee is a breeze! Especially if you have a fixed salary! How do you do the 941/940? Do you do electronic submittal, or fill out a paper form and mail i...
by Hayden
Tue Dec 29, 2015 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Using professional help vs DIY for small business corp
Replies: 12
Views: 1335

Re: Using professional help vs DIY for small business corp

1. Single member & not planning on taking any other employees. 2. ... payroll, ... 2. For payroll and bookkeeping, for those of you who have gone through this process, are there downsides of going the DIY route with online tools (quickbook, free payroll services provided by banks). I am in the ...
by Hayden
Tue Dec 29, 2015 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Business: tax basis and distributions
Replies: 13
Views: 1055

Re: Business: tax basis and distributions

So basically even if individual A took out (distribution) $40,000 and individual B took out (distribution) $30,000, just because they are unequal does not mean that there are different classes of stock, only that their LLC agreement stated that inividual A can take out more up to his initial contri...
by Hayden
Fri Dec 25, 2015 2:11 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 1438
Views: 276567

Re: What Movie Have You Recently Watched?

I saw Star Wars on IMAX in 3D. I recommend seeing it that way if it's available to you.
by Hayden
Wed Dec 23, 2015 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Should I switch to Quickbooks?
Replies: 11
Views: 757

Re: Should I switch to Quickbooks?

Are they always this difficult to deal with? I rely on their users forum: https://community.intuit.com/quickbooks-online/ An an independent (I think) forum: http://forums.quickbooksusers.com/ I have not had to use either of these in a long time. Once you go through all the things you will come up a...
by Hayden
Tue Dec 22, 2015 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: Business: tax basis and distributions
Replies: 13
Views: 1055

Re: Business: tax basis and distributions

How could any business distribute more than what the stock basis is to a share holder (with the assumption that the business doesn't have any outside investors/loans/debt)? You mentioned anything distributed BEYOND the stock basis would become a capital gain for that partner, but how would that hap...
by Hayden
Tue Dec 22, 2015 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Should I switch to Quickbooks?
Replies: 11
Views: 757

Re: Should I switch to Quickbooks?

I’ve just been on the phone with Intuit for over an hour trying to purchase Quickbooks Online. I had some simple questions. Each question required that I be put on hold while they researched the question. While on hold, I researched the question on the internet. When they came back, they gave me an ...
by Hayden
Mon Dec 21, 2015 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should I switch to Quickbooks?
Replies: 11
Views: 757

Should I switch to Quickbooks?

Over a decade ago, when my company had many employees/contracts/revenue, I purchased a big, expensive, complicated accounting package (Deltek). Now, I am semi-retired. My company is small (annual revenues about $250,000) and no employees. I’m trying to decide whether to keep using my big, complicate...
by Hayden
Sat Dec 19, 2015 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 consulting job
Replies: 7
Views: 558

Re: 1099 consulting job

Unemployment and workers compensation are state specific. You should contact your specific state to understand the rules.

Also, ask your state about licensing requirements, taxes, etc. In my state, I have to file and pay taxes monthly.
by Hayden
Sun Dec 13, 2015 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 and K-1 income tax question
Replies: 3
Views: 269

Re: 1099 and K-1 income tax question

I think an investment (capital you put into this company) is not an expense, and is not deducted as an expense on your tax return.
by Hayden
Fri Dec 11, 2015 1:21 pm
Forum: Investing - Help with Personal Investments
Topic: TLH International ETF - please advise
Replies: 2
Views: 160

Re: TLH International ETF - please advise

Let's see you have either selling for short-term gain of $1170 and no dividends (none of short-term gain is taxed favorably) or Don't sell and get less money $1089 of dividends and some qualified. It looks like "Don't sell" wins to me. How did you get that selling is better? because i mes...
by Hayden
Fri Dec 11, 2015 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: TLH International ETF - please advise
Replies: 2
Views: 160

TLH International ETF - please advise

Apologies for posting another TLH question, but i need help with this particular situation. I am on the cusp of AMT this year, so I am paying more attention to taxes this month than I normally would. Don’t want to lose my property tax deduction by going into AMT territory. I purchased 900 shares of ...
by Hayden
Thu Dec 10, 2015 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Small/solo biz - cash vs accrual accounting - pros/cons
Replies: 13
Views: 767

Re: Small/solo biz - cash vs accrual accounting - pros/cons

My books are on the accrual basis, but my tax returns are on the cash basis.

It's pretty easy to convert from accrual to cash for preparation of the tax returns.
by Hayden
Wed Dec 09, 2015 12:25 pm
Forum: Personal Consumer Issues
Topic: Gift for your boss
Replies: 54
Views: 3304

Re: Gift for your boss

I think a gift for a boss is inappropriate. On the rare occasions when a employee gave me a gift, I explained to them that it was inappropriate.
by Hayden
Sat Dec 05, 2015 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for A Young Entreprenuer
Replies: 12
Views: 1326

Re: Advice for A Young Entreprenuer

You've gotten excellent advice here. I'll add a very small item based in my own experience. My company is over 15 years old, and it has changed several times over that period. Had I named it Ted's T-shirts, or some such thing, it could have been a problem. Fortinately, I gave my company a non specif...
by Hayden
Sat Dec 05, 2015 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard TurboTax - Not Available 2015?
Replies: 320
Views: 31130

Re: Vanguard TurboTax - Not Available 2015?

Last year, I used TT Home and Business. It looks like Deluxe does everything I need. Does anyone know what the "additional help" promised by Premium is? I don't mind paying the extra cost if it provides value, but I can't tell from the website what it includes (other than the ability to ca...
by Hayden
Fri Dec 04, 2015 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Year End Financial Checklist
Replies: 5
Views: 719

Re: Year End Financial Checklist

That's a good list. Yesterday I did the following:

I did a dummy tax return and determined that I am in AMT this year. So I will delay paying my property taxes until January 1.

Also, I calculated my 4th quarter estimated tax payment.
by Hayden
Tue Nov 24, 2015 11:08 am
Forum: Personal Consumer Issues
Topic: Suggestions for purchasing a Samsung Galaxy Tablet for wife for Christmas
Replies: 8
Views: 775

Re: Suggestions for purchasing a Samsung Galaxy Tablet for wife for Christmas

I am using the 10" Table A and am very pleased with it. I went to Best Buy to look at all the options and decide what I needed. My Best Buy has a very helpful Samsung rep to explain the differences between all of the Samsung products.
by Hayden
Sat Nov 21, 2015 11:48 am
Forum: Personal Consumer Issues
Topic: Costco and Amex Cards - got Blue Amex
Replies: 18
Views: 2710

Re: Costco and Amex Cards - got Blue Amex

AMEX told me I was "pre-approved" for a new card to replace the Costco card. When I accepted the offer, they told me they needed to run a credit check. I did not want to pay to unfreeze/re-freeze my credit, so that ended that. What a bother! My AMEX credit dates back over 30 years, never a...
by Hayden
Sat Nov 21, 2015 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Need to overcome our frugal habits and splurge a little in retirement
Replies: 63
Views: 7161

Re: Need to overcome our frugal habits and splurge a little in retirement

I think you are doing fabulously. Congratulations! I've been wrestling with the same issue. I've found i enjoy paying a hard working young person to help around the house, giving a large tip to a hard working waiter, etc. I get more pleasure helping an individual that I know, rather than writing a c...
by Hayden
Thu Nov 19, 2015 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k limits and K-1 distribution from S-corporation
Replies: 7
Views: 223

Re: Solo 401k limits and K-1 distribution from S-corporation

I have an S Corp and I've always been told it is based on the W2 wages.
by Hayden
Wed Nov 18, 2015 7:35 pm
Forum: Personal Consumer Issues
Topic: Roof damage due to windstorm
Replies: 7
Views: 632

Re: Roof damage due to windstorm

We are in the midst of one of the worst windstorms on record in the area. +70mph gusts. Many of my neighbors' roofs have slopes with over half the shingles gone. I went out to look at mine and sure enough, I've got quite a few missing on slopes and apexes, exposing the underlying wood beams and she...
by Hayden
Wed Nov 18, 2015 4:14 pm
Forum: Personal Consumer Issues
Topic: Notifying Auto Insurance Agent about added/changed vehicles?
Replies: 11
Views: 628

Re: Notifying Auto Insurance Agent about added/changed vehicles?

I call my agent all the time. In fact, we had storm damage last night, and the first thing I did this morning was call my agent. Why the reluctance to call your agent?
by Hayden
Wed Nov 18, 2015 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Business: tax basis and distributions
Replies: 13
Views: 1055

Re: Business: tax basis and distributions

I have an LLC taxed as an S Corp, and my accountant told me that distributions MUST be done proportionate to ownership share. So if the ownership is 50/50, then distributions to the two owners must be the same. My CPA said there was no way around this. How did you do it? Are distributions of the ow...
by Hayden
Tue Nov 17, 2015 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Business: tax basis and distributions
Replies: 13
Views: 1055

Re: Business: tax basis and distributions

I have an LLC taxed as an S Corp, and my accountant told me that distributions MUST be done proportionate to ownership share. So if the ownership is 50/50, then distributions to the two owners must be the same. My CPA said there was no way around this. How did you do it?
by Hayden
Mon Nov 16, 2015 11:03 am
Forum: Personal Finance (Not Investing)
Topic: What steps are you taking to prepare your spouse?
Replies: 32
Views: 3817

Re: What steps are you taking to prepare your spouse?

1) I have written our Investment Policy Statement with more detail than usual, intended for reading by my spouse and/or a 3rd party helping. 2) I wrote a letter for my spouse and update it every few years, tucked in a sealed envelope with the house copy of our wills. 3) I TRY to sit my spouse down ...
by Hayden
Mon Nov 16, 2015 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Year-End tax planning
Replies: 5
Views: 486

Re: Year-End tax planning

LeeMKE wrote:I don't know. Try it and report back. Others will want to know.


I should have been clearer. I tried to do it using TurboTax Online but couldn't get in to the software. The online software seems to be unavailable. The TurboTax website says to "Check back in December".

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