Search found 358 matches

by Hub
Mon Feb 06, 2017 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: HSA mistaken distribution issue (2014 taxes)
Replies: 5
Views: 536

Re: HSA mistaken distribution issue (2014 taxes)

That's good to know. Thanks for the follow up. Payflex is now agreeing with me that the 1099 was sent by error somewhere along the line since it was a trustee to trustee direct transfer. I'm trying to get a corrected one sent, but if that doesn't work out then I'll lean toward doing what you ended u...
by Hub
Mon Feb 06, 2017 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws Estate Planning - Wisdom Wanted
Replies: 50
Views: 2159

Re: In-Laws Estate Planning - Wisdom Wanted

This is sounding like an episode of Dallas ... More like Dallas... Des Moines Edition. OP, the clause about the RE wouldn't bother me much. So long as you can sell for market value it doesn't matter other than adding some complexity. I get your frustration, but I don't see what can be done here oth...
by Hub
Mon Feb 06, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: HSA mistaken distribution issue (2014 taxes)
Replies: 5
Views: 536

Re: HSA mistaken distribution issue (2014 taxes)

Payflex is saying that when the 5498-SA form comes out it will show that distribution as a contribution to the other plan. But that form doesn't come out until May. Odd. Feel like I'm missing something here. Other oddity is that I had the aforementioned $9k transfer and then also a final account clo...
by Hub
Mon Feb 06, 2017 11:21 am
Forum: Personal Finance (Not Investing)
Topic: HSA mistaken distribution issue (2014 taxes)
Replies: 5
Views: 536

Re: HSA mistaken distribution issue (2014 taxes)

I just received a 1099-SA from Payflex Systems and I appear to have the exact same problem in that they're reporting it as a regular HSA distribution. I initiated a trustee to trustee transfer from Payflex to Elements for $9k that they are referring to. Please tell me I don't have to do what the OP ...
by Hub
Tue Jan 24, 2017 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Possbile career moves without college degree
Replies: 39
Views: 3384

Re: Possbile career moves without college degree

There is a local domino's pizza franchise that lets its best long term managers buy and take over groups of 4 stores. Maybe find a "local" business that is similar in that they are just entrepreneurial individuals but they own 20-30 franchises and really appreciate hiring good help.
by Hub
Fri Jan 20, 2017 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Where to get $100k for home remodel?
Replies: 34
Views: 3702

Re: Where to get $100k for home remodel?

The HELOC seems simplest to me. I had an easy experience getting mine done with no fees at PenFed.

Another option would be a cash-out refinance of your home, but the odds are your current mortgage interest rate is better than a new one would be.
by Hub
Wed Jan 11, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: How Severe is an HSA Audit?
Replies: 29
Views: 3532

Re: How Severe is an HSA Audit?

I had an "audit" of my HSA (and Schedule A) one year. They asked for all documents supporting all entries on Form 8889 and Schedule A. It was a letter request, not an in-person audit. What did you send them? Then what happened? I sent them copies of forms 5498-SA, 1099-SA and W-2 (code W,...
by Hub
Tue Jan 10, 2017 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: How Severe is an HSA Audit?
Replies: 29
Views: 3532

Re: How Severe is an HSA Audit?

jebmke wrote:I had an "audit" of my HSA (and Schedule A) one year. They asked for all documents supporting all entries on Form 8889 and Schedule A. It was a letter request, not an in-person audit.
What did you send them? Then what happened?
by Hub
Tue Dec 20, 2016 10:36 am
Forum: Personal Consumer Issues
Topic: The True Cost of Owning a Dog
Replies: 176
Views: 13531

Re: Cost of dog ownership.

I've always liked having dogs and want my kids to grow up with them, but the cost is hard to reconcile. Our 13 yr old dog just died and it's certainly a burden lifted at this point. Of course she had been an old dog that wasn't the best roommate for the past 3-4 years so my memories of doggy joy are...
by Hub
Mon Dec 19, 2016 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Is Personal Injury Protection Necessary?
Replies: 7
Views: 1053

Re: Is Personal Injury Protection Necessary?

From what I understand it pays for things that your insurance will also pay for so you may even get paid double time on stuff. Plus at a minimum it would get me back my deductible in my HDHP, so I added it back on to our policies after watching a friend successfully use his PIP coverage no problem.
by Hub
Mon Dec 19, 2016 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of person buys a franchise?
Replies: 49
Views: 5427

Re: What kind of person buys a franchise?

The people that I know that have done well with them own more than a few and were never scared to get their hands dirty managing them. They also all took some lumps along the way. It's never looked appealing to me, but obviously lots of people do well with them. I assume the appeal is that it doesn'...
by Hub
Wed Dec 07, 2016 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: HELP: salary negotiation
Replies: 17
Views: 2322

Re: HELP: salary negotiation

Hey there, Congrats on the new job offer! Regardless of outcome, that should feel good. I do think that you can, and probably should negotiate a higher salary. Here's how I would suggest doing so: 1: Always lead, and close with affirmations that you want the job, and are excited about the job. The ...
by Hub
Wed Nov 30, 2016 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Feeling like you've "made it"
Replies: 107
Views: 10743

Re: Feeling like you've "made it"

I can relate to always peeking my head up at that next tier even after reaching one that I thought would be an achievement for the long haul. I don't feel inadequate along the way, but that higher rung up keeps looking interesting. I couldn't agree more with the previous poster about an aggressive s...
by Hub
Wed Nov 30, 2016 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Does your employer pay for continuing education?
Replies: 27
Views: 1432

Re: Does your employer pay for continuing education?

Both of my employers paid for it at manager cost center discretion and neither had a formal policy. (Neither are megacorp, one publically traded with 1000 employees and the other one only 100 employees). I got my MBA paid for which is nice.
by Hub
Wed Nov 30, 2016 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Last day for solo 401k contribution?
Replies: 10
Views: 797

Re: Last day for solo 401k contribution?

... but IRS regulations require the deposit of the contributions by the 15th of the following month (January 15th). I just opened my wife's sole proprietor solo 401k yesterday at TD Ameritrade. They told me the employee contribution was due by 1/15/17. I wasn't sure they were right, but I'm happy t...
by Hub
Tue Nov 29, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Would You Move For A Promotion?
Replies: 22
Views: 3189

Re: Would You Move For A Promotion?

Remember to account for any increased risk associated with the move. For instance if you get paid more, but lose job stability, then is it really a better pay over the long term? (sort of an analysis that is analagous to the stocks vs bonds tradeoff) From my situation this is the largest considerat...
by Hub
Mon Nov 28, 2016 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: How to discuss salary offer as a manager?
Replies: 29
Views: 2716

Re: How to discuss salary offer as a manager?

I think the $75k figure is something you can work with and be honest about. BUT you better be certain HR will support that for an internal candidate that already got a big raise recently. I've seen managers incorrectly assume they can get HR to not classify an internal move as lateral.
by Hub
Tue Nov 08, 2016 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401K- options and advise
Replies: 12
Views: 658

Re: Individual 401K- options and advise

This thread is relevant to my interests. Thanks for all the helpful info.
by Hub
Mon Nov 07, 2016 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: What 529 plan are TX residents using?
Replies: 46
Views: 2179

Re: What 529 plan are TX residents using?

I don't use one. Potential tax savings on this don't really motivate me to mess with it since it's only on gains. Would rather just have it in my own taxable account.
by Hub
Fri Nov 04, 2016 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: HSA contribution max per pay period
Replies: 23
Views: 2109

Re: HSA contribution max per pay period

My wife's employer had the monthly contribution maxed at the annual maximum divided by 12 no matter what month you started contributing to it. Particularly annoying.
by Hub
Fri Nov 04, 2016 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA vs Dependent Care Tax Credit?
Replies: 14
Views: 1129

Re: Dependent Care FSA vs Dependent Care Tax Credit?

Excellent point regarding the phase-out range of AGI. I hadn't considered that, but it could affect me also.
by Hub
Thu Nov 03, 2016 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA vs Dependent Care Tax Credit?
Replies: 14
Views: 1129

Re: Dependent Care FSA vs Dependent Care Tax Credit?

mikep wrote:
The credit caps at $3000, where the FSA is $5000, so you have to include that in your comparison.
6k cap for 2+ kids.
by Hub
Thu Nov 03, 2016 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA vs Dependent Care Tax Credit?
Replies: 14
Views: 1129

Re: Dependent Care FSA vs Dependent Care Tax Credit?

Thank you everyone!! I totally misunderstood it. Time to max out the FSA! I'm suprised more people don't max it out. It's such a sweet deal! I chose not to when I was in the 15% marginal tax bracket with 2 kids. Just wasn't worth the extra hassle for what I think amounted to about a 2.65% advantage...
by Hub
Wed Oct 26, 2016 11:54 am
Forum: Personal Finance (Not Investing)
Topic: What would you do? Payoff...
Replies: 12
Views: 1394

Re: What would you do? Payoff...

Are you maxing out your 401k this year? You could adjust your paycheck to get that done by the end of the year while using this money to cover the monthly shortage that may cause. I agree that you want an emergency fund more like $20k than $5k. Maybe you just put a bunch in taxable investments plann...
by Hub
Wed Oct 26, 2016 11:48 am
Forum: Personal Finance (Not Investing)
Topic: 2017 ACA plan previews
Replies: 172
Views: 11897

Re: 2017 ACA plan previews

While companies seem to have heavily shifted toward HDHPs, the ACA exchange has fewer HDHP options for me than "normal" plans and fewer than a year ago.
by Hub
Wed Oct 26, 2016 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Count pension as a form of retirement savings.
Replies: 56
Views: 5541

Re: Count pension as a form of retirement savings.

For my wife's pension: While she contributed (6.75%) I counted that as part of our savings rate. Now that she is separated from employment I count the cash value of the pension as part of our portfolio. I do not include it in my asset allocation at all. Some day I'll either liquidate it or receive i...
by Hub
Wed Oct 26, 2016 10:19 am
Forum: Personal Finance (Not Investing)
Topic: 2017 ACA plan previews
Replies: 172
Views: 11897

Re: 2017 ACA plan previews

RE: Provider networks - I have a number of clients in Houston. None of the plans available on the individual market allow access to Texas Children's Hospital, MD Anderson, or Houston Methodist, which are the three major hospitals in the city. I am seeing this more and more every year. The networks ...
by Hub
Tue Oct 04, 2016 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: What you guys do with the bonus
Replies: 59
Views: 5324

Re: What you guys do with the bonus

Mine doesn't have a particular designation; it's just like a regular month where I get paid more. This means it goes to my excess cash account which gets invested periodically in taxable when it gets big enough.
by Hub
Mon Sep 12, 2016 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Banks not honoring bank bonuses on time
Replies: 30
Views: 2415

Re: Banks not honoring bank bonuses on time

Interesting thread. I've only ever done the Chase checking account bonuses ($300 for 6 months) and they paid immediately at the promised date. Though it was mildly annoying to have to keep track of.
by Hub
Wed May 18, 2016 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Planning to purchase Term life policy, do I need to get in shape?
Replies: 16
Views: 1650

Re: Planning to purchase Term life policy, do I need to get in shape?

I'm in the process of trying to drop 10 pounds in advance of getting an updated policy. I already have one in place so there's not a huge rush. Otherwise one may never get a policy.
by Hub
Tue May 17, 2016 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Withhold $0 income taxes for 2nd half of year?
Replies: 5
Views: 625

Re: Withhold $0 income taxes for 2nd half of year?

No fed taxes come out of my paycheck now for 2 years running. The mandatory 25% they take out of my bonus covers me for the year.
by Hub
Fri May 13, 2016 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Retire Early -or- Not At All
Replies: 31
Views: 4059

Re: Retire Early -or- Not At All

Just get that egg going as soon as possible. If you need to "retire" before it hits 25x then you could always just work enough each year for 1x expenses until your savings grow to 25x.
by Hub
Fri Apr 29, 2016 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Inherited property and family issues
Replies: 39
Views: 3818

Re: Inherited property and family issues

Let Mary stay in the house, but take whatever rent you agree is reasonable out of her share of the equity, and pay property taxes and other expenses out of the other two siblings' cash? That (a) doesn't impose (as much) on the other two siblings, (b) doesn't give Mary a big pile of money that she s...
by Hub
Wed Apr 27, 2016 9:38 am
Forum: Personal Finance (Not Investing)
Topic: How do HSA accounts pass if the owner dies?
Replies: 14
Views: 1739

Re: How do HSA accounts pass if the owner dies?

I assume you say that just because of the cleaner tax treatment of the Roth upon death? Also I would love to hear a quick and dirty of how you track your unreimbursed HSA expenses in such a way that they are easy for you and others to decipher over the long haul. I have all of mine saved in one mann...
by Hub
Tue Apr 26, 2016 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: How do HSA accounts pass if the owner dies?
Replies: 14
Views: 1739

Re: How do HSA accounts pass if the owner dies?

Great info Spirit Rider. Thank you.
by Hub
Tue Apr 26, 2016 11:01 am
Forum: Personal Finance (Not Investing)
Topic: How do HSA accounts pass if the owner dies?
Replies: 14
Views: 1739

Re: How do HSA accounts pass if the owner dies?

So if my wife and I both go down at the same time then my HSA is going to get the living hell taxed out of it at the rate of income for that year. Unless I guess we happen to go down early in the year and it happens before my HSA balance gets all that large. Any remedies to this that one can account...
by Hub
Tue Apr 26, 2016 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Why have a formal budget?
Replies: 106
Views: 10590

Re: Why have a formal budget?

...snip... Great post bluejello. I have a wife that does most of our spending. She has the same financial priorities as me, but doesn't have a bone in her body that wants to track expenses. So a budget helps her feel comfortable when she does spend money. We have aggressive savings goals that would...
by Hub
Thu Apr 21, 2016 11:00 am
Forum: Personal Finance (Not Investing)
Topic: disability insurance: do I really need it?
Replies: 53
Views: 5011

Re: disability insurance: do I really need it?

I dropped my coverage once our family annual expenses fit into what SSDI would pay if we both became disabled. This coincided with our retirement nest egg growing to a good size for a couple in their 30s and the fact that we could live our current lifestyle on either single income. I'm under no delu...
by Hub
Thu May 14, 2015 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Conundrum: Can do my own books but banks require CPA statement
Replies: 23
Views: 2766

Re: Conundrum: Can do my own books but banks require CPA statement

It sounds like your initial financing needs will be small enough to get away with quickbooks financials if you know your banker. Meg is right about going with a smaller bank. They are accustomed to seeing statements like yours.
by Hub
Fri Apr 24, 2015 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Help with letter from IRS about 2013 529 distribution
Replies: 32
Views: 5485

Re: Help with letter from IRS about 2013 529 distribution

Interesting discussion. Also good consideration on maximizing the AOTC by livesoft even if it means penalties on the 529. Also thanks for the KPMG letter.
by Hub
Wed Apr 22, 2015 9:30 am
Forum: Personal Finance (Not Investing)
Topic: HSA account with the lowest cost: HSA bank or Vanguard?
Replies: 28
Views: 18989

Re: HSA account with the lowest cost: HSA bank or Vanguard?

I'm using Elements. I have over $2500 account balance so zero fees and earn 1% on my balance. My last transfer to TD Ameritrade was before they instituted their new $25 wire transfer fee but even with the fee which I will only be paying once a year, Elements still comes out ahead of all the other o...
by Hub
Tue Apr 21, 2015 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: TX, MT, CO, and NM Comparative Tax Burden
Replies: 37
Views: 3539

Re: TX, MT, CO, and NM Comparative Tax Burden

Thanks for the interesting tax analysis and I appreciate your plans to not work. I figure for a 2 hr drive to family Lubbock probably has more to offer. Interesting how expensive TX is to those other places. I live here and feel like the property taxes are a huge burden. Obviously this evens out qui...
by Hub
Thu Feb 12, 2015 5:33 pm
Forum: Investing - Theory, News & General
Topic: Mr. Money Mustache: Hero or Foolish?
Replies: 452
Views: 92632

Re: Mr. Money Mustache: Hero or Foolish?

What people really need to do is go read some tight wad gazettes from the 90s. Until you doing things like only going #2 when your out (to save on TP costs) and realizing that a trip to McDonalds pays for it self in napkins and condiments you take home, your not really trying to save money:) Now yo...
by Hub
Wed Jan 28, 2015 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Moving up a tax bracket - when to avoid, when to give up
Replies: 26
Views: 3187

Re: Moving up a tax bracket - when to avoid, when to give up

No matter what, make sure your tax deferred contributions keep you below the 25% if possible (by "if possible" I mean if it's at all possible to get down there without running out of room for pretax contributions then make yourself save more to get there.) From there, fill roth then switch...
by Hub
Wed Jan 28, 2015 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Amazon Prime - good deal or calculated conditioning
Replies: 50
Views: 4206

Re: Amazon Prime - good deal or calculated conditioning

For me its less about saving money and more about not having to go to stores in person. We are same. I simply do not spend any time in retail stores beyond the grocery store. The "free" 2-day shipping thing is much more about the speed than the cost to me. 2 days means I can afford to wai...
by Hub
Mon Jan 26, 2015 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Success stories of NOT buying more/too much house
Replies: 65
Views: 8106

Re: Success stories of NOT buying more/too much house

My wife and I still live in the same home we bought 9 years ago in our 20's. She is quitting work next month to stay home with the kids for a couple years. It's 2000 square feet and 4 bedrooms so plenty of room. We almost upgraded about 3 different times, but resisted each. There is zero chance she ...
by Hub
Mon Jan 26, 2015 11:23 am
Forum: Personal Finance (Not Investing)
Topic: When to take a HSA distribution for past medical costs
Replies: 25
Views: 2286

Re: When to take a HSA distribution for past medical costs

Yes to minimize the trouble I keep all the documents in a folder. At years end I tally them up, insert the schedule of expenses in the front, seal them in an big envelope, and write HSA reimbursable and the amount on the outside. So that when I or anybody else gets ready to reimburse they just need...
by Hub
Tue Jan 20, 2015 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Loss Harvesting Form ?
Replies: 7
Views: 671

Re: Tax Loss Harvesting Form ?

On a related note, I sold some taxable stock on 12/31, but it didn't "settle" in my account until January 2. Will my 1099-B be for 2014?
by Hub
Tue Jan 20, 2015 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: How to Know You're Saving Enough?
Replies: 24
Views: 3652

Re: How to Know You're Saving Enough?

I don't think your current net worth has much to do with whether you are saving "enough." It's all about income vs expenses at your age. My honest opinion is that saving 50% of gross after taxes is "enough" by any measure and will keep lifestyle inflation firmly in check. Side ef...
by Hub
Tue Jan 20, 2015 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Will I be able to retire at 55?
Replies: 13
Views: 2642

Re: Will I be able to retire at 55?

Regarding the educational expenses, it seems to me either OP will already be retired and thusly will be eligible for a solid amount of financial aid, or he won't and will be able to cash flow them for the most part and just forgo all other saving those years.

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