Search found 48 matches

by Kennedy
Wed Apr 19, 2017 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Does Insurance Have to Pay an Out-of-Network Ambulance Bill in Full?
Replies: 46
Views: 3105

Does Insurance Have to Pay an Out-of-Network Ambulance Bill in Full?

A family member was driven to Hospital A in a private car and was then was admitted. They were transferred to Hospital B the next day. The doctor recommended the transfer since Hospital B had a higher-level care that the family member required. The transfer was via an ambulance operated by a small t...
by Kennedy
Wed Apr 19, 2017 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Financial Advisor's Calculations Accurate re: VFINX v their Fund?
Replies: 13
Views: 1161

Financial Advisor's Calculations Accurate re: VFINX v their Fund?

So my father-in-law met recently with a financial advisor in Florida who states he is a fiduciary. The FA gave my FIL a paper that had calculated how much money he would have left the last trading day of 2015 had he invested $1M in VFINX the first trading day of 2000. There was an assumption that $5...
by Kennedy
Wed Nov 25, 2015 12:23 am
Forum: Personal Consumer Issues
Topic: New Dental Insurance Has 12 Month Exclusion for Orthodontics... No Lapse??
Replies: 10
Views: 1812

Re: New Dental Insurance Has 12 Month Exclusion for Orthodontics... No Lapse??

If his teeth are in harm's way, you are probably right to get going now due to his age and possibility of damage if he gets hit. I'm seeing more and more 12 month waiting periods for orthodontic coverage. The reason is most likely due to the Affordable Care Act creating an environment where people ...
by Kennedy
Sat Nov 14, 2015 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: What Documents to Keep for Schudule C Expenses?
Replies: 6
Views: 737

Re: What Documents to Keep for Schudule C Expenses?

You could keep a copy of the credit card statement with the charge on it. You could keep a copy of the cancelled check. However, both of these items should be easily available online as long as you do not cancel your credit card account nor your checking account. Yes, I keep my old credit card stat...
by Kennedy
Sat Nov 14, 2015 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: What Documents to Keep for Schudule C Expenses?
Replies: 6
Views: 737

What Documents to Keep for Schudule C Expenses?

In the past, when deducting the cost of professional associations and other business expenses for 1099 income, I've just kept a copy of the invoice. Should I also be obtaining an actual receipt from the professional associations marked "paid" to staple to the invoice in case we are audited...
by Kennedy
Sat Nov 14, 2015 5:32 pm
Forum: Personal Consumer Issues
Topic: New Dental Insurance Has 12 Month Exclusion for Orthodontics... No Lapse??
Replies: 10
Views: 1812

Re: New Dental Insurance Has 12 Month Exclusion for Orthodontics... No Lapse??

I am an Orthodontist, and can tell you that every dental insurance is run differently. First step is to call new insurance company and make sure there is a 12 month waiting period. If this is the case, the next step would be to talk with your orthodontist. I know that in the majority of cases like ...
by Kennedy
Fri Nov 13, 2015 3:40 pm
Forum: Personal Consumer Issues
Topic: New Dental Insurance Has 12 Month Exclusion for Orthodontics... No Lapse??
Replies: 10
Views: 1812

New Dental Insurance Has 12 Month Exclusion for Orthodontics... No Lapse??

My spouse was employed by Company A, which was recently bought out by Company B. We had dental insurance with orthodontic coverage through Company A. We elected the dental insurance coverage (different insurer) for Company B when they acquired Company A. There was no lapse in coverage between the tw...
by Kennedy
Fri Nov 13, 2015 2:26 pm
Forum: Personal Consumer Issues
Topic: Book recommendation; cleaning up clutter!
Replies: 12
Views: 2017

Re: Book recommendation; cleaning up clutter!

Personally, I found some of the things the author said pretty freaky. The idea of "thanking" shoes, coats, whatever for their service is just plain weird. The other information can basically be summed up in one thought: Keep only things you love, are useful and bring you joy. Lots of repet...
by Kennedy
Tue Nov 10, 2015 11:15 am
Forum: Personal Finance (Not Investing)
Topic: HSA Custodian Question & Benefits of Contributing through Employer
Replies: 8
Views: 808

Re: HSA Custodian Question & Benefits of Contributing through Employer

Thank you all. After re-reading all the responses, it makes sense for us to make our HSA contributions outside of payroll deductions. Although the reasoning seems obvious to me now, it didn't occur to me that we would end up paying more FICA on the 1099 side if his W2 income is reduced by the HSA co...
by Kennedy
Mon Nov 09, 2015 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Custodian Question & Benefits of Contributing through Employer
Replies: 8
Views: 808

Re: HSA Custodian Question & Benefits of Contributing through Employer

Thank you, Spirit. So if I understand correctly, in our scenario, we would save 1.45% (medicare) of the amount contributed to the HSA if my spouse uses payroll deductions, and we would have to pay the 1.45% medicare tax if we make our own contribution outside of payroll deductions. But, there is no ...
by Kennedy
Mon Nov 09, 2015 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Custodian Question & Benefits of Contributing through Employer
Replies: 8
Views: 808

Re: HSA Custodian Question & Benefits of Contributing through Employer

Thank you for that information. I'm wondering if it even matters (at my spouse's income level) whether we have the HSA funded with payroll deductions or if we simply contribute to the HSA account ourselves (via bank transfer or check). The FICA income cap for this year is $118,500. My spouse makes m...
by Kennedy
Mon Nov 09, 2015 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Custodian Question & Benefits of Contributing through Employer
Replies: 8
Views: 808

Re: HSA Custodian Question & Benefits of Contributing through Employer

I should also add that right now we intend to use the HSA more like an FSA because we have some expensive medical expenses coming up. We don't plan to have any money left in the HSA to invest until at least 2016.
by Kennedy
Mon Nov 09, 2015 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Custodian Question & Benefits of Contributing through Employer
Replies: 8
Views: 808

HSA Custodian Question & Benefits of Contributing through Employer

We just signed up for a HDHP that qualifies for an HSA. This is all new to me, and I have several questions. My spouse's employer has sent us a link to OptumBank. I see from the Wiki that there are many different custodians. Optum charges a monthly fee, and I see there is a credit union that doesn't...
by Kennedy
Fri Feb 27, 2015 9:10 pm
Forum: Personal Consumer Issues
Topic: Approaching 50...What to expect?
Replies: 108
Views: 13923

Re: Approaching 50...What to expect?

Fifty is the age at which life stops giving and starts taking away.
by Kennedy
Fri Feb 27, 2015 6:07 pm
Forum: Investing - Help with Personal Investments
Topic: Expense Ratio for Vanguard Prime Money Market Fund is 0.16%?
Replies: 8
Views: 803

Re: Expense Ratio for Vanguard Prime Money Market Fund is 0.

So if I fund a tIRA with plans to roll-over the money to a Roth IRA the next day, it would be advisable to put the money in the Money Market Fund for the one day in which its in a traditional IRA so that there won't be any tax implications?
by Kennedy
Fri Feb 27, 2015 6:03 pm
Forum: Investing - Help with Personal Investments
Topic: Expense Ratio for Vanguard Prime Money Market Fund is 0.16%?
Replies: 8
Views: 803

Re: Expense Ratio for Vanguard Prime Money Market Fund is 0.

drwtsn32 wrote:The 0.01% return is after the 0.16% expense has already been accounted for.

Okay. That makes sense. Thank you all for your helpful replies.
by Kennedy
Fri Feb 27, 2015 5:50 pm
Forum: Investing - Help with Personal Investments
Topic: Expense Ratio for Vanguard Prime Money Market Fund is 0.16%?
Replies: 8
Views: 803

Expense Ratio for Vanguard Prime Money Market Fund is 0.16%?

Am I reading this correctly in that Vanguard's Prime Money Market Fund has an expense ratio of 0.16% yet its return for the past year has only been 0.01%? Why would anyone buy this fund? Also, is there a limit to the number of times per year I can sell/buy funds within my IRA? Perhaps what I'm think...
by Kennedy
Wed Feb 18, 2015 1:38 pm
Forum: Investing - Help with Personal Investments
Topic: Need Help With New Spousal IRA
Replies: 2
Views: 482

Need Help With New Spousal IRA

I am getting ready to open my first spousal IRA. My husband has been contributing to his SEP IRA for many years, but I now want to open a 2014 non-deductible IRA and then quickly roll-over the money to a back-door Roth. (Due to my husband's income, I am not eligible for any deductible contribution.)...
by Kennedy
Tue Jan 27, 2015 11:21 am
Forum: Personal Finance (Not Investing)
Topic: How to Value E-Commerce Business?
Replies: 4
Views: 487

Re: How to Value E-Commerce Business?

Thank you for the feedback, MrTom. After digging around a bit more, I believe I'm putting together more pieces of the puzzle. A big chunk of the current owner's product is being sold on an online community that prohibits the sale of one's "store" in its current form. So, if I were to purch...
by Kennedy
Sat Jan 24, 2015 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: How to Value E-Commerce Business?
Replies: 4
Views: 487

Re: How to Value E-Commerce Business?

I forgot to include the offering price includes $126,500 of inventory and $8000 in fixtures, furniture and equipment.
by Kennedy
Sat Jan 24, 2015 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: How to Value E-Commerce Business?
Replies: 4
Views: 487

How to Value E-Commerce Business?

I have a mild interest (at this point) in purchasing an existing e-commerce business that sells a certain niche product. The offering price is $182,000 with a stated cash flow to current owner of $60,000. Stated gross income is $210,000. The business has a six year successful and growing track recor...
by Kennedy
Sun Jan 04, 2015 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Choice of Retirement Plans for Small Business Owner
Replies: 3
Views: 511

Choice of Retirement Plans for Small Business Owner

If I own a small business netting about $100,000 and the business has two other (non-related) employees, which deductible retirement plans are available to me if I do not want to fund plans for the two employees? Please correct me if I'm wrong, but I believe with a SEP IRA I can't just fund my own p...
by Kennedy
Thu Dec 25, 2014 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: [Getting Sued for] Malpractice
Replies: 46
Views: 6057

Re: [Getting Sued for] Malpractice

Most emergency medicine docs are independent contractors for a group that has a contract with the hospital to staff the emergency department. Malpractice insurance is generally purchased by the group's owner and typically provides $1M in coverage per exposure, although there is the rare group that c...
by Kennedy
Tue Dec 23, 2014 7:03 pm
Forum: Personal Consumer Issues
Topic: Where to go to have a great business website designed?
Replies: 9
Views: 1497

Re: Where to go to have a great business website designed?

OP here: Thanks, everyone, for the great suggestions. Much appreciated!
by Kennedy
Tue Dec 23, 2014 12:04 am
Forum: Personal Consumer Issues
Topic: Where to go to have a great business website designed?
Replies: 9
Views: 1497

Re: Where to go to have a great business website designed?

Thanks, bluejello. I'll look into the places you recommended. As to your other point, I made it pretty clear that I'm looking to hire someone to design the website and optimize it in a google search. I don't see it any differently than hiring an expert for marketing, financial or technical advice. I...
by Kennedy
Mon Dec 22, 2014 11:44 pm
Forum: Personal Consumer Issues
Topic: Where to go to have a great business website designed?
Replies: 9
Views: 1497

Where to go to have a great business website designed?

If all goes as planned, I'll be opening an online business in the near future. Obviously, I will need a great website that is capable of accommodating between 50-100 items for sale. I know absolutely nothing about how to design a website or how to optimize the website for higher traffic from a googl...
by Kennedy
Thu Dec 18, 2014 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Where to find the cheapest mortgage?
Replies: 30
Views: 5147

Re: Where to find the cheapest mortgage?

We used one of the Costco approved lenders. I think it was Bank of the Internet. At the time, I researched many lenders' fees, and the Costco associated lender was the lowest. For Costco Executive members, they have dropped the lending fee even lower than when we used them. You can get a general quo...
by Kennedy
Mon Dec 15, 2014 9:39 pm
Forum: Personal Consumer Issues
Topic: Would you winterize a house for 2 months?
Replies: 15
Views: 1932

Re: Would you winterize a house for 2 months?

I'm not sure what they would do for $500 to de-winterize. There really isn't anything to do except turn the water back on, flush a couple toilets, and let the water run to wash the anti-freeze down the pipes. Sounds like a big rip-off.
by Kennedy
Wed Dec 10, 2014 2:47 pm
Forum: Personal Consumer Issues
Topic: How to Use a Debit Card Like a Debit/Check Card POS
Replies: 4
Views: 839

Re: How to Use a Debit Card Like a Debit/Check Card POS

If you're using it short term to get some promotion from your credit union that might be OK, but I'd highly recommend not getting in the habit of using it for everyday purchases - get a credit card. If a credit card gets compromised you're out nothing but the hassle of getting a new credit card; if...
by Kennedy
Wed Dec 10, 2014 1:04 pm
Forum: Personal Consumer Issues
Topic: How to Use a Debit Card Like a Debit/Check Card POS
Replies: 4
Views: 839

Re: How to Use a Debit Card Like a Debit/Check Card POS

I wanted to update this post... I spoke with the credit union regarding my inability to use my debit card without inputting a PIN. As it turns out, there was an error on the credit union's side whereby my debit card was not linked to my checking account as was necessary to use the card. The agent co...
by Kennedy
Wed Dec 10, 2014 12:41 am
Forum: Personal Finance (Not Investing)
Topic: Advantages of Solo 401K v SEP IRA
Replies: 4
Views: 622

Advantages of Solo 401K v SEP IRA

We have been maxing out our contributions to my spouse's SEP IRA. I recently noted that a Solo 401K allows for a $5500 catch up for those over 50. Correct? I also read that the maximum contribution in 2014 to a Solo 401K for those over 50 is $57,500, adding in the catch up. My spouse is self-employe...
by Kennedy
Tue Dec 09, 2014 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Taxes
Replies: 6
Views: 1171

Re: S Corp Taxes

Thank you, Rob. I have a question regarding what is a "reasonable" salary. You threw out a 25-30% in salary number as perhaps being unreasonable. However, if one is only working a minimum number of hours/week in the business with employees doing the majority of the labor, I would assume a ...
by Kennedy
Tue Dec 09, 2014 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: GEICO vs. USAA auto insurance
Replies: 55
Views: 15210

Re: GEICO vs. USAA auto insurance

It seems odd to me that GEICO could manufacture a discount just to keep your business. Did the agent ask you certain questions to ascertain if you qualified for certain affiliation discounts, such as professional organizations or your status as a Berkshire stockholder? We have GEICO auto insurance a...
by Kennedy
Tue Dec 09, 2014 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Taxes
Replies: 6
Views: 1171

S Corp Taxes

I want to make sure I understand how I would pay tax should I own a business organized as an S Corp. I'm hoping someone will correct me if my understanding is not correct. If I own an S Corp, I pay myself a "reasonable" salary, out of which I pay payroll taxes and ordinary income tax. I ca...
by Kennedy
Wed Dec 03, 2014 8:10 pm
Forum: Personal Consumer Issues
Topic: How to Use a Debit Card Like a Debit/Check Card POS
Replies: 4
Views: 839

How to Use a Debit Card Like a Debit/Check Card POS

I received my new debit card from a credit union I recently joined. To receive their "rewards checking" higher rate, I have to complete 12 Debit/Check Card point-of-sale purchases without using my PIN. I tried to use it in this manner today at Walmart by hitting the "credit" butt...
by Kennedy
Mon Dec 01, 2014 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Selling a rented house
Replies: 39
Views: 3948

Re: Selling a rented house

Long-term landlord here ... ... of course a simple tour inside is a landlord's right (give three days as a courtesy given your history with this tenant). No need to say squat about the purpose, tell the person/family that it is a friend that wants to see the inside, enough said. :happy Kinda surpri...
by Kennedy
Thu Nov 27, 2014 12:12 am
Forum: Personal Finance (Not Investing)
Topic: Physician Assistant - Employee or Independent Contractor?
Replies: 25
Views: 4920

Re: Physician Assistant - Employee or Independent Contractor

It would be helpful if you could tell us in which specialty you work.
by Kennedy
Sat Nov 22, 2014 9:36 pm
Forum: Personal Consumer Issues
Topic: All inclusive resort in Puerto Vallarta
Replies: 11
Views: 2390

Re: All inclusive resort in Puerto Vallarta

I, too, am suggesting you look into Dreams. We have traveled all over the world and stayed in some very nice hotels. With that said, our stay at Dreams was quite memorable and near the top of the list for outstanding service in a resort.
by Kennedy
Sat Nov 22, 2014 3:10 pm
Forum: Personal Consumer Issues
Topic: Unknown grant money and scholarships for college
Replies: 3
Views: 715

Re: Unknown grant money and scholarships for college

Wow, Jack. That doesn't seem quite fair. Is your son attending a private college?
by Kennedy
Sat Nov 22, 2014 12:16 am
Forum: Personal Consumer Issues
Topic: Learning to Type
Replies: 14
Views: 2080

Re: Learning to Type

My kids learned "keyboarding" using a Spongebob computer program. Worked great for them.
by Kennedy
Fri Nov 21, 2014 6:55 pm
Forum: Investing - Help with Personal Investments
Topic: Rolling Over 529 $ from 2 Different States
Replies: 9
Views: 957

Re: Rolling Over 529 $ from 2 Different States

Okay.... one final update: With the gracious help of sscritic, I have come to realize that what the VA agent told me initially WAS correct, and that tax consequences will be triggered should I roll-over funds from more than one 529 plan in a 12 month period, even if they are from different state pla...
by Kennedy
Fri Nov 21, 2014 4:18 pm
Forum: Investing - Help with Personal Investments
Topic: Rolling Over 529 $ from 2 Different States
Replies: 9
Views: 957

Re: Rolling Over 529 $ from 2 Different States

Just an update: I received a call-back from the VA agent. The agent spoke to the department head and they WILL accept the roll-overs (without tax consequences) from the 529 plans from both states A and B "since the money will be coming from different states." Much easier this way than chan...
by Kennedy
Fri Nov 21, 2014 2:18 pm
Forum: Investing - Help with Personal Investments
Topic: Rolling Over 529 $ from 2 Different States
Replies: 9
Views: 957

Re: Rolling Over 529 $ from 2 Different States

That might be a possibility, livesoft and tramper. However, I think the quickest thing to do (without causing a lengthy delay to first move $ from state A to B first) is to change beneficiaries when moving money from one of the states to Virginia. In other words, I will swap the beneficiaries for my...
by Kennedy
Fri Nov 21, 2014 1:53 pm
Forum: Investing - Help with Personal Investments
Topic: Rolling Over 529 $ from 2 Different States
Replies: 9
Views: 957

Rolling Over 529 $ from 2 Different States

I am trying to roll-over money from two different state's 529 plans into a Virginia 529 plan. The Virginia agent called and told me they can only accept money from ONE of the other states and then I have to wait 12 calendar months before they can accept money from the other state, without tax penalt...
by Kennedy
Thu Nov 20, 2014 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: getting umbrella insurance
Replies: 25
Views: 2036

Re: getting umbrella insurance

I was also asked if we have a swimming pool or hot tub and whether they were fenced. They further asked if either of us were on the Board of Directors for any organization.
by Kennedy
Mon Nov 17, 2014 6:46 pm
Forum: Investing - Help with Personal Investments
Topic: Changing Investment Vehicles Within a 529 Plan
Replies: 2
Views: 404

Changing Investment Vehicles Within a 529 Plan

I understand I am allowed to change my investments in a 529 plan (without making an unqualified withdrawal) only once per calendar year. I also read I can change the beneficiary from one sibling to another at any time, and I can change the investment vehicle if I change the beneficiary. So... if I w...
by Kennedy
Sat Nov 15, 2014 12:44 am
Forum: Investing - Help with Personal Investments
Topic: Best CD Inside a 529 College Savings Plan?
Replies: 5
Views: 866

Re: Best CD Inside a 529 College Savings Plan?

Also check out the BB&T College Savings Plan (Va). It is a savings account so rates my fluctuate, but haven't much: http://www.bbt.com/bbtdotcom/banking/savings/college-wealth-529-savings.page Thank you so much! I will call them on Monday to get more information. These rates look amazing for a ...
by Kennedy
Mon Nov 10, 2014 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: Best CD Inside a 529 College Savings Plan?
Replies: 5
Views: 866

Best CD Inside a 529 College Savings Plan?

I am new to this forum and have a question about 529 plans. I have a child that's within a few years of heading off to college. I don't want to risk the principal at this point and was wondering where I could find a plan with a competitive CD rate? Is there any state's plan that's recommended or kno...

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