Search found 4564 matches

by HueyLD
Tue Jan 17, 2017 7:47 am
Forum: Investing - Theory, News & General
Topic: Flagship Reps
Replies: 59
Views: 4088

Re: Flagship Reps

Come on, folks! If you are flagship, you can afford any version of any tax software. I think the best part about flagship is that one gets experienced reps to assist in more complicated situations. In an ideal world, one would never have to talk to a human, but stuff happens and human intervention m...
by HueyLD
Mon Jan 16, 2017 6:34 pm
Forum: Personal Consumer Issues
Topic: Medicare insurance premium AND payroll tax ?
Replies: 7
Views: 328

Re: Medicare insurance premium AND payroll tax ?

I think an employer requires an employee eligible for Medicare to sign up for Part A to reduce its insurance cost. The Medicare rule says: "If you are 65 or older, have group health plan based on you or your spouse's current employment and the employer has fewer than 20 employees, Medicare pays...
by HueyLD
Mon Jan 16, 2017 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: New startup business: Tax Deductions?
Replies: 3
Views: 157

Re: New startup business: Tax Deductions?

From the IRS (Pub 535): Business Start-Up and Organizational Costs Business start-up and organizational costs are generally capital expenditures. However, you can elect to deduct up to $5,000 of business start-up and $5,000 of organizational costs paid or incurred after October 22, 2004. The $5,000 ...
by HueyLD
Mon Jan 16, 2017 12:04 pm
Forum: Personal Consumer Issues
Topic: Treasury Direct Account Locked
Replies: 8
Views: 682

Re: Treasury Direct Account Locked

I was certain that I answered the security question correctly but got locked out.

Well, I discovered in talking with the Treasury employee that I didn't know how to spell a well known phrase correctly.

It is usually the "operator error." :-)
by HueyLD
Mon Jan 16, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: IRA for spouse treated as US resident for tax purposes
Replies: 9
Views: 416

Re: IRA for spouse treated as US resident for tax purposes

I don't know if I am just being too nit-picky, but my question is re the specific wording that we are treating my spouse as a "U.S. resident" rather than a "resident alien." To me, resident alien implies a green card holder, etc. while "U.S. resident" implies someone w...
by HueyLD
Sun Jan 15, 2017 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Obamacare question.
Replies: 18
Views: 1420

Re: Obamacare question.

Miles,

Unless you have no assets to protect and can file for bankruptcy to get out of paying unexpectedly large medical bills, you probably should just pay for the better coverage especially for such a short period.

Best of luck to you.
by HueyLD
Sun Jan 15, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Obamacare question.
Replies: 18
Views: 1420

Re: Obamacare question.

Considering the hassle involved in changing health care providers, I suggest that you pay the price outside of the ACA network because you only have to do so for five months.

Better safe then sorry.
by HueyLD
Sun Jan 15, 2017 1:16 pm
Forum: Investing - Theory, News & General
Topic: Flagship Reps
Replies: 59
Views: 4088

Re: Flagship Reps

For those who use the appointment method currently to access dedicated reps: you will likely lose that privilege once you no longer have one specifically assigned to you. Of course the new system does not apply to Flagship Select customers.
by HueyLD
Sun Jan 15, 2017 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 122
Views: 15742

Re: Fidelity free Turbotax

No more speculations. He is what fidelity says: "Fidelity Private Client Group® program membership is generally available to investors whose eligible retail household relationship assets are over $1 million, of which at least $500,000 is registered under the same Social Security number (SSN) or...
by HueyLD
Sun Jan 15, 2017 6:39 am
Forum: Investing - Theory, News & General
Topic: Flagship Reps
Replies: 59
Views: 4088

Re: Flagship Reps

I think Vanguard is getting so BIG now that it no longer cares about any customer with asset levels below $5 million. Maybe Vanguard just wants to run off all such pathetic small investors because they are nothing but money losers and pain in the neck.

Where is Saint Bogle when we need him?
by HueyLD
Sat Jan 14, 2017 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Out of pocket health care costs - how to pay when traveling overseas?
Replies: 12
Views: 792

Re: Out of pocket health care costs - how to pay when traveling overseas?

Do foreign doctors/hospitals usually accept credit cards? With an ATM card, there are usually daily limits that wouldn't go far toward a hospital bill. I don't think so. I heard from a few folks who worked in health care facilities that they stopped accepting credit cards from foreigners because a ...
by HueyLD
Fri Jan 13, 2017 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: House downpayment and cashing in index funds?
Replies: 16
Views: 906

Re: House downpayment and cashing in index funds?

In that case, 50/50 is a very equitable way of splitting the purchase.

Make sure there is a very solid contract to preserve each partner's share, including how to deal with the "unthinkable" breakup and the possibility of one buying out the other's interest in the jointly owned property.
by HueyLD
Fri Jan 13, 2017 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: residential energy tax credit question
Replies: 1
Views: 178

Re: residential energy tax credit question

The form instructions do address such a situation. Joint ownership of qualified property. Married taxpayers with more than one home. If both you and your spouse owned and lived apart in separate main homes, the limit on the amount of the credit applies to each of you separately. If you are filing se...
by HueyLD
Fri Jan 13, 2017 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Integrating American Opportunity Tax Credit and 529 Withdrawals
Replies: 16
Views: 652

Re: Integrating American Opportunity Tax Credit and 529 Withdrawals

Mike, Your thought process is on the right track. However, there is a different definition of QHEE for each flavor of tax advantaged program. For example, the definition for QHEE for the AOTC includes in addition to "tuition and required enrollment fees," course related books supplies and ...
by HueyLD
Fri Jan 13, 2017 12:26 pm
Forum: Investing - Theory, News & General
Topic: I bond strategy
Replies: 37
Views: 2416

Re: I bond strategy

I am not a fan of paper savings bonds for a variety of reasons. When I tried to cash my paper bonds a year ago, my bank (a well known major regional bank) wouldn't cash them because the bank's limit was $1,000 and my bonds were in $5k denomination. I called two other well known mega banks and they e...
by HueyLD
Fri Jan 13, 2017 10:02 am
Forum: Investing - Theory, News & General
Topic: I bond strategy
Replies: 37
Views: 2416

Re: I bond strategy

The TD says: Purchase Limits Savings Bonds Different purchase limits apply for electronic savings bonds and paper savings bonds. Electronic (TreasuryDirect) Through your TreasuryDirect account - which is established using your name and social security number, bank information, driver’s license and e...
by HueyLD
Fri Jan 13, 2017 2:12 am
Forum: Personal Finance (Not Investing)
Topic: 529 non-qualified withdrawal earnings: Is this trust income?
Replies: 2
Views: 246

Re: 529 non-qualified withdrawal earnings: Is this trust income?

My question is this: Will the $3700 be considered distributable net income (DNI) to the trust, in the same way that dividends are DNI, or will that $3700 be treated separately? What about the 10% penalty? Does anyone know how that will be treated? Include $3,700 on Line 8 - Other Income and identif...
by HueyLD
Thu Jan 12, 2017 4:42 pm
Forum: Investing - Help with Personal Investments
Topic: Year-end statement is missing my December bond fund and money market fund dividends and showing incorrect Year to Date i
Replies: 29
Views: 2077

Re: Year-end statement is missing my December bond fund and money market fund dividends and showing incorrect Year to Da

Vanguard's IT system definitely needs improvement. It is not acceptable for the largest investment company to not capable of producing "correct" year end statements. This is a basic function, not any kind of fancy stuff. Thank goodness I still have the mutual funds only accounts as I have ...
by HueyLD
Thu Jan 12, 2017 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: File taxes with $0 income with a dependent?
Replies: 29
Views: 1978

Re: File taxes with $0 income with a dependent?

They don't have any medical coverage (unwise, I know) and I've been encouraging her to apply for Medicaid. Ouch. This could actually make them subject to the ACA penalty for not having health insurance. There are a number of exceptions for things like bankruptcy and homelessness, and the penalty is...
by HueyLD
Thu Jan 12, 2017 1:48 pm
Forum: Investing - Theory, News & General
Topic: I bond strategy
Replies: 37
Views: 2416

Re: I bond strategy

No, you must get it in paper. However, you can immediately send it to Treasury and make it electronic in your TD account. Not true. Here is what IRS says in the instructions for form 8888: TreasuryDirect® Account You can request a deposit of your refund (or part of it) to a TreasuryDirect® online a...
by HueyLD
Thu Jan 12, 2017 6:22 am
Forum: Personal Finance (Not Investing)
Topic: Credit report errors
Replies: 16
Views: 706

Re: Credit report errors

you can file a complaint with the Consumer Financial Protection Bureau. You can file a complaint online or via phone or mail: Online: http://www.consumerfinance.gov/complaint Phone: (855) 411-CFPB (2372) Mail: Consumer Financial Protection Bureau P.O. Box 4503 Iowa City, Iowa 52244 You should also ...
by HueyLD
Tue Jan 10, 2017 3:10 pm
Forum: Investing - Help with Personal Investments
Topic: How to politely fire my financial advisor
Replies: 66
Views: 6198

Re: How to politely fire my financial advisor

Contact your new provide (Fidelity or Vanguard, which is getting too big...), give them a copy of your most recent statements with all your accounts, and they will transfer it over. Then send your former Financial Adviser a nice hand written thank you note for his assistance; no reason required. Ne...
by HueyLD
Tue Jan 10, 2017 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: AMT and taxable portion of state tax refund
Replies: 8
Views: 470

Re: AMT and taxable portion of state tax refund

I want to make sure I understand this.. It has been my understanding that, since the state tax is a disallowed deduction for AMT purposes, the refund from the state for overpayment of state taxes is not taxed. Since my AMT amount has always been larger than my state tax refund, I never bothered to ...
by HueyLD
Tue Jan 10, 2017 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: File taxes with $0 income with a dependent?
Replies: 29
Views: 1978

Re: File taxes with $0 income with a dependent?

verbose wrote:Your friend may be eligible for the additional child tax credit and receive a "refund" even though she paid no taxes. She should definitely file if this is the case.

She will not qualify for ACTC because one must have more than $3,000 in earned income to qualify for such a credit.
by HueyLD
Tue Jan 10, 2017 11:26 am
Forum: Personal Finance (Not Investing)
Topic: File taxes with $0 income with a dependent?
Replies: 29
Views: 1978

Re: File taxes with $0 income with a dependent?

TIAX wrote:
RudyS wrote:I agree. File anyhow - put $1 in interest to make it efile-able. Or just file paper. That's to deter ID theft.

This is bad advice. Please don't make up numbers just to be able to e-file.

The above is what the IRS advises volunteer tax preparers to do to deter ID theft.

It is a GREAT advice.
by HueyLD
Mon Jan 09, 2017 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Is a charitable donation from an IRA regarded as taxable income?
Replies: 17
Views: 628

Re: Is a charitable donation from an IRA regarded as taxable income?

Yes, you have misunderstood the rules. Here is what the IRS says: "Q-37. Is the exclusion for qualified charitable distributions available for distributions from an IRA maintained for a beneficiary if the beneficiary has attained age 701⁄2 before the distribution is made? A-37. Yes. The exclusi...
by HueyLD
Mon Jan 09, 2017 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Is a charitable donation from an IRA regarded as taxable income?
Replies: 17
Views: 628

Re: Is a charitable donation from an IRA regarded as taxable income?

That's right, but you are the owner now. As the owner, you must meet the age requirement.
by HueyLD
Mon Jan 09, 2017 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Is a charitable donation from an IRA regarded as taxable income?
Replies: 17
Views: 628

Re: Is a charitable donation from an IRA regarded as taxable income?

In order to take advantage of the QCD, you must be at least 70 1/2.
by HueyLD
Mon Jan 09, 2017 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Is CreditKarma legit?
Replies: 11
Views: 1359

Re: Is CreditKarma legit?

Credit Karma says: How can you afford to offer Credit Karma Tax for free? Our mission is to make financial progress possible for everyone. By understanding your credit and your taxes, Credit Karma can better assist you with your finances. We can monitor your finances, help you make good financial de...
by HueyLD
Sun Jan 08, 2017 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 122
Views: 15742

Re: Fidelity free Turbotax

Congrats, Retire14.
by HueyLD
Sat Jan 07, 2017 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax 2016 purchase source
Replies: 80
Views: 9647

Re: Turbo Tax 2016 purchase source

Home address and Costco store are in the same jurisdiction.

I guess Costco.com needs to update its database. :)
by HueyLD
Sat Jan 07, 2017 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax 2016 purchase source
Replies: 80
Views: 9647

Re: Turbo Tax 2016 purchase source

I think it adds 8.1% on 69.86, the pre-discount price.
by HueyLD
Sat Jan 07, 2017 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax 2016 purchase source
Replies: 80
Views: 9647

Re: Turbo Tax 2016 purchase source

Bigfoot,

Did you purchase it in store or online?

I just learned that Costco.com charges 0.5% less in sales tax. :)
by HueyLD
Sat Jan 07, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to find out if a foreign dividend is qualified?
Replies: 15
Views: 471

Re: How to find out if a foreign dividend is qualified?

In that case, I think you should just wait for the 1099-DIV.

If you met the holding period for TD Bank stocks, the dividends should be qualified because Canadian corporations are qualified foreign corporations per the treaty.

Be patient.
by HueyLD
Sat Jan 07, 2017 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: How to find out if a foreign dividend is qualified?
Replies: 15
Views: 471

Re: How to find out if a foreign dividend is qualified?

Did you meet the holding period requirement?
by HueyLD
Sat Jan 07, 2017 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: How to find out if a foreign dividend is qualified?
Replies: 15
Views: 471

Re: How to find out if a foreign dividend is qualified?

I hold some TD bank stocks at my Fidelity taxable account. I just found out today that my TD dividend is not considered "qualified" dividend by the IRS. :oops: https://www.fidelity.com/tax-information/tax-topics/qualified-dividends I emailed TD investor relations today to confirm that Fid...
by HueyLD
Fri Jan 06, 2017 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Problem: Electronic transfer limits. Also: portfolio advice.
Replies: 17
Views: 759

Re: Problem: Electronic transfer limits. Also: portfolio advice.

BOH? FHB? Can you spell out their names? Ally Bank allows up to $150k transfer out per day and $600k per month. If the amount is larger, a wire transfer will work better. Ally charges a very modest amount of $20 per outgoing wire transfer and nothing for incoming wires. If you can get wire transfer ...
by HueyLD
Fri Jan 06, 2017 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax and Form 1116 date paid
Replies: 8
Views: 372

Re: Turbotax and Form 1116 date paid

The IRS instructions say: enter "1099 taxes in col. j;" however, the field in TT is a "date" field.

The workaround is to enter 12/31/2016 for foreign taxes paid in 2016 and enter only the USD amount. There is no need to translate the USD into a foreign currency.
by HueyLD
Fri Jan 06, 2017 9:04 am
Forum: Investing - Help with Personal Investments
Topic: Year-end statement is missing my December bond fund and money market fund dividends and showing incorrect Year to Date i
Replies: 29
Views: 2077

Re: Year-end statement is missing my December bond fund and money market fund dividends and showing incorrect Year to Da

Biloxi,

You need to call Vanguard because the December income should be included in 2016 statement.

Maybe Vanguard's IT system struck again. Only Vanguard can fix this issue.
by HueyLD
Thu Jan 05, 2017 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Qualified Distributions and COA
Replies: 2
Views: 129

Re: 529 Qualified Distributions and COA

Whenever one takes advantage of a tax break/deduction, it is always a good idea to keep documentation to support the deduction.
by HueyLD
Thu Jan 05, 2017 6:03 pm
Forum: Investing - Help with Personal Investments
Topic: When is 59 1/2 for those born August 29, 30, 31?
Replies: 20
Views: 1838

Re: When is 59 1/2 for those born August 29, 30, 31?

I think it is a fun numbers game to play.

Hey, relax and have fun!
by HueyLD
Thu Jan 05, 2017 5:53 pm
Forum: Investing - Help with Personal Investments
Topic: When is 59 1/2 for those born August 29, 30, 31?
Replies: 20
Views: 1838

Re: When is 59 1/2 for those born August 29, 30, 31?

If you look at the language, it says 59 years and six months. It goes by the number of months, not the number of days. With that in mind, I would consider those born August 29, 30 or 31 1957 to reach age 59 1/2 on 2/28/2017. However, there appears to be a lack of clear guidance from the IRS. So, I w...
by HueyLD
Thu Jan 05, 2017 10:01 am
Forum: Personal Finance (Not Investing)
Topic: How to approach getting new wills, trusts, with a blended family
Replies: 51
Views: 2465

Re: How to approach getting new wills, trusts, with a blended family

Having faced similar issues, I think it is essential that the first thing you need to do is reach an understanding with your wife on what you want to accomplish with your estate(s). Do the two of you want to consider it as a single estate or do you want to separate it into three parts -- yours, min...
by HueyLD
Thu Jan 05, 2017 5:06 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 122
Views: 15742

Re: Fidelity free Turbotax

I agree with Madbrain that the requirement as written is very confusing.

Do we have an English teacher who can decipher the above statement? Or can somebody call Fidelity again for clarification? :confused
by HueyLD
Wed Jan 04, 2017 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 1.25% 11 month with no EWP
Replies: 76
Views: 8445

Re: Ally Bank 1.25% 11 month with no EWP

pasadena wrote:This CD is now down to 0.87% APY.

I was told by Ally staff that they were opening lots of no penalty CDs back in December. Many thanks for the early bird post.
by HueyLD
Tue Jan 03, 2017 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: FOUND Vanguard household statements!!
Replies: 5
Views: 682

Re: Vanguard household statements

Did you convert to the new brokerage account?

I still have my mutual funds only accounts and nothing has changed, i.e. still shows household statement, historical statements, etc.
by HueyLD
Tue Jan 03, 2017 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct Estates and Trusts only prepares one return
Replies: 5
Views: 275

Re: TaxAct Estates and Trusts only prepares one return

One return per copy? That's not good.

Can you do it the old fashion way, that is: pen and paper?

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