Search found 17 matches

by LFrugal
Sun Mar 05, 2017 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should federal employee communicate 18 months to retirement?
Replies: 44
Views: 3763

Re: Should federal employee communicate 18 months to retirement?

I see no need to telegraph your intentions 18 months advance. I would wait to see if you are directed to transfer. You may not and instead may be offered a buyout as part of the reorganization. If you announce you're retiring, you won't get a buyout if they know you are leaving. If you are directed ...
by LFrugal
Mon Feb 13, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Legal Expenses Taken Against Settlement
Replies: 8
Views: 1228

Re: Legal Expenses Taken Against Settlement

I have no legal basis on which to base this other than guidance from an accountant who is an acquaintance. I was not sure that guidance was correct, that's why I posed the question on the forum. If anyone can provide support for accruing legal expenses in a case taking a few years and then deducting...
by LFrugal
Sun Feb 12, 2017 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Legal Expenses Taken Against Settlement
Replies: 8
Views: 1228

Re: Legal Expenses Taken Against Settlement

The legal fees were paid periodically over the three-year course of the case right up to the settlement in mid-2016. According to the IRS, IRC Ā§ 62(a)(21) specifies an above the line-deduction for attorney fees and court costs associated with suits involving discrimination and whistleblower claims. ...
by LFrugal
Sun Feb 12, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Legal Expenses Taken Against Settlement
Replies: 8
Views: 1228

Legal Expenses Taken Against Settlement

In 2016 I received a large settlement from the federal government for a discrimination lawsuit. The lawsuit was filed in 2013 and took three years to settle. Over these three years I accumulated approximately $50,000 in legal expenses. I will be accounting for the settlement as miscellaneous income ...
by LFrugal
Sat Dec 24, 2016 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Taxes
Replies: 4
Views: 603

Taxes

Two questions: 1) I cannot seem to figure out if this year's TurboTax Deluxe CD does indeed include schedules C, D and E or if Intuit is forcing me to, again, buy the more expensive Premier version to get these schedules. Anyone know? 2) Last year I was forced to file federal taxes by paper since so...
by LFrugal
Tue Sep 13, 2016 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: LTC Quandary
Replies: 32
Views: 3414

Re: LTC Quandary

Joyanni: If you haven't read it, get a copy of the "Millionaire Next Door" by Thomas Stanley. Over the past 40 years, I've adopted the habits outlined in his book. It requires discipline, discipline, discipline and being frugal, frugal, frugal.

https://www.amazon.com/dp/1589795474/ref=rdr_ext_tmb
by LFrugal
Thu Sep 08, 2016 9:58 am
Forum: Personal Finance (Not Investing)
Topic: LTC Quandary
Replies: 32
Views: 3414

LTC Quandary

I am looking for some thoughts and guidance on what to do about my Long-Term Care (LTC) policy. I am sure there are other current federal employees or retirees out there faced with a similar circumstance. A little background: I am a recently retired (April 2016) federal employee who signed up for th...
by LFrugal
Thu Dec 03, 2015 2:52 pm
Forum: Investing - Help with Personal Investments
Topic: Creating a 1099-Misc
Replies: 1
Views: 293

Creating a 1099-Misc

In January, this will be the first year I need to generate a 1099-Misc for a contractor since I paid him more than $600 for repairs to a rental property in 2015. From what I gather after a little online research, I can go one of two ways: 1) TurboTax Home and Business allows you to generate the form...
by LFrugal
Wed Jun 17, 2015 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Taxpayer ID Number?
Replies: 3
Views: 608

Taxpayer ID Number?

This year, I paid a contractor more than $600 for repair work on a rental house. As I understand the IRS rules, I must send this contractor a 1099 next year to account for the amount I paid him. I do not want to use my social security number when I send the 1099 to the contractor, so I'm applying to...
by LFrugal
Tue Mar 25, 2014 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Retrieving Post-Tax Contribuitions from IRA
Replies: 6
Views: 388

Re: Retrieving Post-Tax Contribuitions from IRA

Alan S., thanks good catch. Typo there...I started in 1984 but left the organization in 2003.
by LFrugal
Tue Mar 25, 2014 10:19 am
Forum: Investing - Help with Personal Investments
Topic: Retrieving Post-Tax Contribuitions from IRA
Replies: 6
Views: 388

Retrieving Post-Tax Contribuitions from IRA

Bogleheads, Just turned 65 and will retire in the next 6 months. I'm in the process of examing my IRA portfolio withdrawal strategy. I have a question I could use some guidance on. Thirty years ago I was able to contribute an additional $6600 in post-tax contributions to my employer's 401-k plan. Up...
by LFrugal
Fri Dec 06, 2013 2:08 pm
Forum: Personal Consumer Issues
Topic: What do early retirees actually do in Florida?
Replies: 238
Views: 19286

Re: What do early retirees actually do in Florida?

they go out to dinner at 5 pm

Don't all good Bogleheads hit the half-price early birds in Florida?
by LFrugal
Thu Apr 25, 2013 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Fee only advisor?
Replies: 3
Views: 481

Fee only advisor?

I'm looking to retire at the end of the year and am contemplating buying an hour or two of time from a fee only advisor for a review of my situation and to reassure me I'm ready to go. My objective is to make sure I've thought of everything, got answers to basic questions and everything lined up pro...
by LFrugal
Wed Mar 13, 2013 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Municipal Bond Rules Changing?
Replies: 3
Views: 614

Re: Municipal Bond Rules Changing?

I'm guessing what would likely happen here is investors will simply demand a higher yield and state and local governments would suffer and would be forced to raise state and local taxes. So one may be free and clear on their federal return if under the income thresholds, yet hit right where they liv...
by LFrugal
Wed Mar 13, 2013 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Municipal Bond Rules Changing?
Replies: 3
Views: 614

Municipal Bond Rules Changing?

Anyone else as concerned as I am that the federal tax exemption for municipal bonds may be in jeopardy as Washington seeks yet another source of revenue? A recent budget request would eliminate or cap the exemption on tax-exempt bonds at 28 percent, making all or a portion of the interest on municip...
by LFrugal
Thu Mar 07, 2013 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Hitting Your Number and Reducing Your Risk
Replies: 16
Views: 1460

Hitting Your Number and Reducing Your Risk

A recent post by a Boglehead who had hit his number and Rick Ferri's suggestion to now reduce risk got me searching for articles on taking money off the table once you've won the game. I cannot seem to find them. Anyone have links to them? Thanks.
by LFrugal
Sat Feb 09, 2013 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Ready to Retire/Pay off mortgage?
Replies: 3
Views: 901

Ready to Retire/Pay off mortgage?

Bogelheads, Been a frequent lurker for quite a while, view the site daily, but this is the first post I've made. Looking for some advice from forum followers whose expertise I am in awe of: I'm considering retiring now or in a year. Work for the federal government and am getting tired of the bureauc...