Search found 670 matches

by Katietsu
Sun Aug 20, 2017 3:52 pm
Forum: Personal Consumer Issues
Topic: HVAC scam?
Replies: 8
Views: 748

Re: HVAC scam?

It is just using fanciful language, that does not make it a scam. They proposed changing the blower and the capacitor and then making sure it worked. The work they proposed is the work that was needed. They described that work accurately even if they did their best to bury you in language. I was amu...
by Katietsu
Sun Aug 20, 2017 11:06 am
Forum: Investing - Help with Personal Investments
Topic: Introduction and a Question: IRA vs 401k Tax benefits
Replies: 12
Views: 790

Re: Introduction and a Question: IRA vs 401k Tax benefits

It just means that there are no penalties or interest for owing money next spring if you have already had withheld in 2017 either: 1) 90% of your 2017 tax liability OR 2) 100% of your 2016 tax liability if your income is $150,000 or less or 110% of your 2016 tax liability if your income is over $150...
by Katietsu
Sun Aug 20, 2017 12:29 am
Forum: Investing - Help with Personal Investments
Topic: Introduction and a Question: IRA vs 401k Tax benefits
Replies: 12
Views: 790

Re: Introduction and a Question: IRA vs 401k Tax benefits

Yes, you can just increase your withholding and not make an estimated payment. Also, it could be helpful to review the safe harbor rules. Per IRS: "General rule. In most cases, you must pay estimated tax for 2017 if both of the following apply. You expect to owe at least $1,000 in tax for 2017, afte...
by Katietsu
Sun Aug 20, 2017 12:06 am
Forum: Investing - Help with Personal Investments
Topic: Timing of Converting Taxable Stock Fund to Bond Fund for Retirement
Replies: 8
Views: 635

Re: Timing of Converting Taxable Stock Fund to Bond Fund for Retirement

Just to reiterate, any capital gains ARE included in your adjusted gross income. So if you have $150,000 in pension and salary plus $500,000 in capital gains, then you have an AGI of $650,000. For purposes of itemized deduction reductions, credits and other such things, you have a $650,000 income. T...
by Katietsu
Fri Aug 18, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Did Chase Apply My "Additional Principal" Payment Legally?
Replies: 41
Views: 1909

Re: Did Chase Apply My "Additional Principal" Payment Legally?

You got it right. Both scenarios are correct. In fact, the difference in calculations is one of the important reasons that you must specifically specify extra payments as principal if you want it credited that way. My auto loan payment works the same way though I do not know that they all do.
by Katietsu
Thu Aug 17, 2017 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 vs W2 without 401K vs W2
Replies: 4
Views: 316

Re: 1099 vs W2 without 401K vs W2

For one,

You have neglected to account for the Employee portion of the FICA taxes which is 7.65%.
by Katietsu
Thu Aug 17, 2017 4:17 pm
Forum: Personal Consumer Issues
Topic: Paying directly for damage caused to someone else's car
Replies: 17
Views: 1251

Re: Paying directly for damage caused to someone else's car

Call your insurance, they will explain to you more and more skillfully. I think you are not the first one to fall into this situation. When I did this, 20 yeas ago, I was given the same advice as on this board. Go ahead and pay the other party directly but have them sign a release of liability at t...
by Katietsu
Thu Aug 17, 2017 10:04 am
Forum: Personal Consumer Issues
Topic: Other people's perception of your finances
Replies: 73
Views: 3482

Re: Other people's perception of your finances

I understand that there were alot of days with guests over a small time frame. However, I am not sure anything drastic like providing a list of hotels is needed at this point. Don't have alcohol available when the guests come next time. If they want alcohol, they can pick it up. Ask for separate che...
by Katietsu
Thu Aug 17, 2017 9:10 am
Forum: Investing - Help with Personal Investments
Topic: Tax question about selling my house
Replies: 17
Views: 1308

Re: Tax question about selling my house

Someone here at work that is generally pretty knowledgeable told me that it's only tax exempt if you buy something more expensive

There was a time when something like this was true. However, the law was changed in 1997 so your co-workers information is two decades out of date.
by Katietsu
Thu Aug 17, 2017 8:41 am
Forum: Personal Consumer Issues
Topic: Anyone have a personal chef?
Replies: 48
Views: 4142

Re: Anyone have a personal chef?

I have known a few people to have an arrangement related to your question. There used to be a woman in my town who had about 5 clients, two were acquaintances of mine. She would do most of food preparation at her house then she would deliver to your house before "dinner time". The warm stuff, she wo...
by Katietsu
Wed Aug 16, 2017 7:52 pm
Forum: Investing - Help with Personal Investments
Topic: Tax question about selling my house
Replies: 17
Views: 1308

Re: Tax question about selling my house

I agree that you should be able to exempt any gain. Just curious, who told who that was incorrect and did they tell you why?
by Katietsu
Wed Aug 16, 2017 7:49 pm
Forum: Personal Consumer Issues
Topic: ABS light, and OBD II scanners.....
Replies: 25
Views: 991

Re: ABS light, and OBD II scanners..... have

I only know that in the case of my last car that had an ABS light on, the cheapest scanner that would give details was several hundred dollars.
by Katietsu
Wed Aug 16, 2017 7:40 pm
Forum: Personal Consumer Issues
Topic: Credit score dropped 100 points overnight
Replies: 31
Views: 2702

Re: Credit score dropped 100 points overnight

I would reconsider opening more credit cards at this time if you are looking towards getting a mortgage.
by Katietsu
Wed Aug 16, 2017 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Travelers Checks Question
Replies: 6
Views: 779

Re: Travelers Checks Question

The American Express website gives the following: What should be done with a deceased person's unused Gift Cheques? The estate beneficiary or executor should take the Gift Cheques, the death certificate, and any other estate papers designating the beneficiary to their, or the estates, bank, and inst...
by Katietsu
Wed Aug 16, 2017 2:24 pm
Forum: Personal Consumer Issues
Topic: Car Rental on Current Car Insurance Policy?
Replies: 16
Views: 1160

Re: Car Rental on Current Car Insurance Policy?

I have it now as we would need a rental. This is probably an emotional decision more than anything. At one point, I had dropped it as we could have gotten by on one car. I did this even though the cost was $22 a year at the time. Wouldn't you know that our life situation changed and we required two ...
by Katietsu
Mon Aug 14, 2017 3:40 pm
Forum: Personal Consumer Issues
Topic: ipad or tablet for hospital?
Replies: 31
Views: 2041

Re: ipad or tablet for hospital?

If the caregiver is used to the iphone, then an ipad is going to be the easiest transistion. If the caregiver/patient is older, smaller tablet might not be very pleasant for to look at. The dexterity and physical condition of the patient and the set up of the hospital can make a big difference as to...
by Katietsu
Mon Aug 14, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: tax consequences of "windfall"
Replies: 2
Views: 773

Re: tax consequences of "windfall"

Too much to answer on a phone. But, I will get this started. 1. Filing jointly almost always is the same or better. You have not mentioned anything that would make you an exception to this. Her business expenses are independent of your standard or itemized deduction. 2. You might already know this, ...
by Katietsu
Mon Aug 14, 2017 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: When to pay estimated taxes on mutual fund distributions in December 2018?
Replies: 32
Views: 1808

Re: When to pay estimated taxes on mutual fund distributions in December 2018?

These points have already been mentioned by others but to suumarize:...Paying in January 2019 for a December 2018 distribution is allowed. However, if you do not meet the previously outlined safe harbor, then you will need a 2210 to avoid interest and penalty. Completing a 2210 in this situation can...
by Katietsu
Sat Aug 12, 2017 10:31 am
Forum: Personal Consumer Issues
Topic: What the best identity theft co.?
Replies: 21
Views: 1191

Re: What the best identity theft co.?

When evaluating coverage be careful about the wording. Usually the monetary coverage is only to reimburse you for the costs of correcting the identity theft and does not reimburse for the actual losses. I have been told that this coverage does not do anything that you can not do yourself. However, l...
by Katietsu
Fri Aug 11, 2017 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax: Interpreting 2017 Publication 505
Replies: 10
Views: 594

Re: Estimated Tax: Interpreting 2017 Publication 505

No, normal social security earnings are not included. You should increase your federal income tax withholding. I am not familiar with CA. I would guess it would work the same you and would increase my state withholding as well.
by Katietsu
Fri Aug 11, 2017 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Can a salaried employee be docked pay...
Replies: 33
Views: 3262

Re: Can a salaried employee be docked pay...

Yes. If your friend missed a day of work at a company that uses earned sick days then he would not be paid if he had no days available. I think for most situations, being salaried is about working extra without overtime not about getting any normal workdays off.
by Katietsu
Fri Aug 11, 2017 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house as a student
Replies: 27
Views: 1323

Re: Buying a house as a student

I am gaining zero equity in and have zero chance of ever gaining back in the future You also have zero chance of being upside down in the home, zero chance of a tenant causing thousands in damages, zero chance of needing a $10,000 repair for which you are responsible, and zero chance of feeling lik...
by Katietsu
Thu Aug 10, 2017 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for my Wife - Introductory Post & First Question
Replies: 23
Views: 2948

Re: Planning for my Wife - Introductory Post & First Question

I agree that the first choice for your needs might be the right enrolled agent. Some are very good with planning and others not so much. I would call around and tell them up front that you are most interested in someone who can help with withdrawal strategies to reach a target income level. If you n...
by Katietsu
Thu Aug 10, 2017 12:07 pm
Forum: Personal Consumer Issues
Topic: Long term car rental vs buying a used car vs leasing
Replies: 22
Views: 1324

Re: Long term car rental vs buying a used car vs leasing

I do not think there is an obvious answer. For most people, buying and selling a car also includes a couple thousand dollars to the car salesman in addition to the transaction costs already mentioned. So if this project ends up being on the short end then not so good of a deal. I would look into the...
by Katietsu
Wed Aug 09, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Should we sell a home to a friend's daughter?
Replies: 31
Views: 2963

Re: Should we sell a home to a friend's daughter?

Do not pay a real estate commsion for this but do keep everything professional. Homes in the area I grew up in are probably sold to friends and relatives more than half of the time. Things only go sideways when people try to skip the normal steps of home purchases (those that still apply to a one on...
by Katietsu
Wed Aug 09, 2017 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: tax questions - how to gift my sons' annual IRA
Replies: 18
Views: 1301

Re: tax questions - how to gift my sons' annual IRA

The best answer to your questions could only be determined if we know everyone's income and filng status.
by Katietsu
Wed Aug 09, 2017 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: What's the deal with AMICA???
Replies: 21
Views: 1995

Re: What's the deal with AMICA???

Have you had an accident or moving violation in the last 3 years or so? If you stay with the same company, they might have accident forgiveness. Also, they might not know about any moving violations. On the other hand, a new company will be checking all those things out and incuding it in their quot...
by Katietsu
Wed Aug 09, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Recently Married - should we file jointly or separately?
Replies: 18
Views: 1251

Re: Recently Married - should we file jointly or separately?

I think this deserves actual calculations. I know that there is a lot of gambling and guesswork since you need to project 6 years into the future. However, you are talking about a difference of $600 a month in her student loan payments. If the PSLF does happen in 6 years on schedule, that is a lot o...
by Katietsu
Wed Aug 09, 2017 10:41 am
Forum: Personal Consumer Issues
Topic: Obtaining Bachelors in Accounting @ 30
Replies: 40
Views: 3049

Re: Obtaining Bachelors in Accounting @ 30

I do think it would be helpful to figure out what you disliked about your first two jobs. Have you worked with a career counselor? I agree that spending time and money on a degree that qualifies you for a job that you are equally unhappy with is a bad idea. It is also a bad idea to choose based on a...
by Katietsu
Mon Aug 07, 2017 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: kids think lazy if retire?
Replies: 70
Views: 7759

Re: kids think lazy if retire?

. Will they continue to respect me if I’m not working---just minding my own business, catching up on shows, books, reestablishing friendships etc.)?? I think part of the response is to this. How many stay at home parents would describe their day this way. I would think you are sending a certain mes...
by Katietsu
Mon Aug 07, 2017 11:23 am
Forum: Investing - Help with Personal Investments
Topic: Forced Early Retirement - Advice Sought
Replies: 32
Views: 4444

Re: Forced Early Retirement - Advice Sought

I agree with your original analysis that you can retire now just without a nice margin of comfort that many aim for on this forum. Some comments: 1) Roll over the pension payout to a traditional IRA to start with. You can then withdraw at will if you decide to use it to pay off debt. 2) Seek profess...
by Katietsu
Sat Aug 05, 2017 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Accidentally signed up for Part B Medicare, tried to correct via Medicare and Social Security.Still got bill
Replies: 8
Views: 919

Re: Accidentally signed up for Part B Medicare, tried to correct via Medicare and Social Security.Still got bill

Here is the link for Part B premiums: https://www.medicare.gov/your-medicare-costs/costs-at-a-glance/costs-at-glance.html#collapse-4809 In order to be over $400 in a single month, a couple who filed a joint tax return would need an income of over $428,000. So, your part B premium once you need it, i...
by Katietsu
Sat Aug 05, 2017 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Dad as Investment Advisor for Kids
Replies: 28
Views: 1845

Re: Dad as Investment Advisor for Kids

Tough crowd. I have a few questions and comments. First of all, I think giving them 6 months when they would essentially be starting from scratch in the middle of otherwise busy lives is harsh. Secondly, would you prefer that you continue to manage it if the alternative would be a 1% AUM financial a...
by Katietsu
Fri Aug 04, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: ETFs v. Mutual Funds
Replies: 11
Views: 808

Re: ETFs v. Mutual Funds

The articles you linked are not a simple comparison of an low cost ETF based on a given index vs a similar low cost mutual fund based on the same index. It is unlikely that anyone here will tell you that all ETF's are better than all mutual funds or visa versa. Consider reviewing some of the referen...
by Katietsu
Fri Aug 04, 2017 10:11 am
Forum: Personal Consumer Issues
Topic: Fence Boundary Issue
Replies: 24
Views: 1662

Re: Fence Boundary Issue

You made the mistake. It is annoying but pretty minor in the course of new home construction. Relying on the guys who put down the sod to assess your property line is not defensible. Move the fence and move on.
by Katietsu
Fri Aug 04, 2017 1:35 am
Forum: Investing - Help with Personal Investments
Topic: Strategy for getting out of Northwestern Mutual
Replies: 19
Views: 1605

Re: Strategy for getting out of Northwestern Mutual

Do you still have student loans? Even if you are in the camp that believes whole life can be an OK choice for higher income earners, it makes no sense to do this before paying off student loans. You may want to consider Vanguard Personal Advisor Services. For a 0.3% fee, they will manage your invest...
by Katietsu
Fri Aug 04, 2017 1:22 am
Forum: Personal Finance (Not Investing)
Topic: Losing confidence in Ally Bank - what would you do
Replies: 58
Views: 6584

Re: Losing confidence in Ally Bank - what would you do

I have not had any problems with Ally. I do very few transactions but have found their website excellent to use. I have had glitches like you have described with other banks. Actually, the frequency of these type of issues has seemed to increase over the last few years. I do not think switching to a...
by Katietsu
Thu Aug 03, 2017 9:45 pm
Forum: Personal Consumer Issues
Topic: Worker's compensation insurance
Replies: 15
Views: 1017

Re: Worker's compensation insurance

most health insurance policies do not cover work related injuries. On more than one occasion I gotten a request from an insurer asking if my "accident" was work related (ER treatment for slivers, scratched cornea, etc). I think this about who is primary and who is secondary. The same thing happens ...
by Katietsu
Thu Aug 03, 2017 9:03 pm
Forum: Personal Consumer Issues
Topic: Retire early, live abroad until 65 and come back
Replies: 72
Views: 7933

Re: Retire early, live abroad until 65 and come back

Katietsu wrote: I would think that moving each year would make healthcare insurance very challenging. You may be able to self insure for a broken ankle. However, how would you handle catastrophic coverage? For instance. at age 62, my seemingly very healthy FIL was diagnosed with a condition that re...
by Katietsu
Thu Aug 03, 2017 8:53 pm
Forum: Personal Consumer Issues
Topic: Buy EZ Pass transponder for road trip?
Replies: 45
Views: 2643

Re: Buy EZ Pass transponder for road trip?

The EZ Pass transponder is meant to be mounted on your windshield. Mine came with Velcro mounting strips. If the transponder is just sitting in the car, e.g. In the cup holder, it will randomly read or not read. If it is on the dashboard, it usually works though not 100%. Having the passenger hold i...
by Katietsu
Thu Aug 03, 2017 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance Advice Needed -- does this make sense?
Replies: 2
Views: 282

Re: Insurance Advice Needed -- does this make sense?

Google Homeowners claim. You will find many reputable sources who agree that you should never make a claim for $750. I have seen suggestions from $1000 to $5000 having been listed as the point where the benefit outweighs the risk. I do not believe you will find expert articles that would suggest a $...
by Katietsu
Thu Aug 03, 2017 6:56 pm
Forum: Personal Consumer Issues
Topic: Retire early, live abroad until 65 and come back
Replies: 72
Views: 7933

Re: Retire early, live abroad until 65 and come back

I would think that moving each year would make healthcare insurance very challenging. You may be able to self insure for a broken ankle. However, how would you handle catastrophic coverage? For instance. at age 62, my seemingly very healthy FIL was diagnosed with a condition that required what, at t...
by Katietsu
Wed Aug 02, 2017 11:05 am
Forum: Investing - Help with Personal Investments
Topic: Will my older self thank me?
Replies: 38
Views: 3014

Re: Will my older self thank me?

I hope your older self will thank you. The key is moderation. I think too much of the population is not saving enough. Too many people find themselves staying in jobs they hate or scared when health reasons keep them from working "until they die." On the other hand, I do believe that some of us have...
by Katietsu
Tue Aug 01, 2017 11:43 am
Forum: Personal Finance (Not Investing)
Topic: When is transfer of ownership of 529 plan a taxable event?
Replies: 7
Views: 692

Re: When is transfer of ownership of 529 plan a taxable event?

I believe the 10% penalty is waived if the beneficiary is disabled. The earnings would still be taxed so this does not address your original question.
by Katietsu
Tue Aug 01, 2017 7:26 am
Forum: Personal Finance (Not Investing)
Topic: How to protect preowned individual assets when not married and own home together
Replies: 11
Views: 943

Re: How to protect preowned individual assets when not married and own home together

I think she might be talking about opening herself up to a palimony claim. I only know of these through news stories. But it is an issue a divorce attorney in CA would be able to advise on.
by Katietsu
Tue Aug 01, 2017 7:11 am
Forum: Personal Consumer Issues
Topic: Who's Responsible?
Replies: 23
Views: 1501

Re: Who's Responsible?

I do not see how this is the seller's problem even if Amazon had not given you your money back. The seller has proof of delivery. If you say you are without the book, it is now your problem. I understand this is a small purchase and you still want the item. But, look at it the other way. Consider th...
by Katietsu
Mon Jul 31, 2017 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Someone else applied for a friend's social security
Replies: 9
Views: 1352

Re: Someone else applied for a friend's social security

Yes, this is very upsetting. But it is also easily dealt with. I would find out where the closest social security office is located and if they accept walk in appointments. Showing up tomorrow morning with photo ID would be bes option if possible. If not, follow the suggestions to make an appointmen...
by Katietsu
Sun Jul 30, 2017 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Cost Basis Method
Replies: 18
Views: 1274

Re: Cost Basis Method

You have not given us much background such as your age, income, etc. But since you identify yourself as a novice, I will give a couple follow up comments. If these investments are in a retirement account, then there is no cost basis type decision involved. Since these investments have been identifie...
by Katietsu
Sun Jul 30, 2017 12:10 am
Forum: Investing - Help with Personal Investments
Topic: target retirement in taxable?
Replies: 25
Views: 1709

Re: target retirement in taxable?

Have you investigated the possibilities for setting up more options for tax deferred accounts? Do both you and your wife have businesses that do not lend themselves to any type of retirement accounts, solo 401k, SEP IRA, etc?
by Katietsu
Fri Jul 28, 2017 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: My life so far, my student loan refinancing, and my next steps
Replies: 8
Views: 891

Re: My life so far, my student loan refinancing, and my next steps

Great list of goals for next decade. But, it is tooeasy to get off track if you are not more focused. Since you have refinanced your student loans, you have eliminated some of the flexibility of deferrals, forgiveness, or just a change in payments. Therefore, I would student loans up on the list. My...