Search found 1016 matches

by Longdog
Thu Apr 19, 2018 5:12 am
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 679
Views: 54726

Re: To take or not to take delivery of Tesla 3

My continued thinking process from there is that I can wait for the $41K car and not get full or partial federal credit (base model estimated date is next year) or buy the 50K car and get 7.5K federal credit and essentially think of it as a 42.5K car (though i pay taxes on the 7.5k that equals anot...
by Longdog
Mon Apr 16, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-INT Bond Premium Amount for Tax Deduction
Replies: 5
Views: 254

Re: 1099-INT Bond Premium Amount for Tax Deduction

It is for the current year. And only for covered bonds.
by Longdog
Mon Apr 16, 2018 8:49 am
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 679
Views: 54726

Re: To take or not to take delivery of Tesla 3

1. Heard that there is a 1K deliver fee. Is that true? Are there any other surprises? 2. How many days do I have before i make a decision to buy or hold my position? 3. What is the financing deals being offered on Model 3? 4. Based on 2017 taxes, fed tax withhold across both of us was 10K. Our tax ...
by Longdog
Mon Apr 16, 2018 7:38 am
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 679
Views: 54726

Re: To take or not to take delivery of Tesla 3

Of all the criticisms of the Model 3 that are regularly written about (as well as the many praises) the one area I’ve only seen praised is the way it drives. It was meant to be competitive with the Audi A4 and BMW 3 series, both of which are best in class rides. Based on professional as well as amat...
by Longdog
Sat Apr 14, 2018 8:11 am
Forum: Investing - Theory, News & General
Topic: vanguard notice - retiring our old investment platform
Replies: 50
Views: 5681

Re: vanguard notice - retiring our old investment platform

If the new investment platform supported the same features (that I use) as the old one, I would support it. It does not. I do not.
by Longdog
Mon Apr 09, 2018 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Got 1099-R for corrective distribution in individual 401k. Can I avoid double taxation?
Replies: 2
Views: 212

Re: Got 1099-R for corrective distribution in individual 401k. Can I avoid double taxation?

Would it be possible to file an amended return for tax year 2016 with taxable income reduced by the amount of the excess contribution?
by Longdog
Wed Apr 04, 2018 9:27 am
Forum: Investing - Help with Personal Investments
Topic: Wash sale - three for one?
Replies: 3
Views: 167

Re: Wash sale - three for one?

As I interpret it (because it’s literally how it’s written in IRS documents) it’s a one-for-one replacement of one security for another substantially identical one.
by Longdog
Sun Apr 01, 2018 6:35 am
Forum: Personal Finance (Not Investing)
Topic: [Estate tax] on savings accounts?
Replies: 19
Views: 863

Re: death tax on savings accounts?

If the total value of your estate is under $11.2 million, there is no federal estate tax due. Does that answer your question?
by Longdog
Thu Mar 29, 2018 5:02 pm
Forum: Investing - Theory, News & General
Topic: Muni bonds and WSJ article.
Replies: 12
Views: 1479

Re: Muni bonds and WSJ article.

They are low, but not zero risk, and the risks are different than the risks for equities. Diversification among issuers within a fund mitigates some of those risks and having some of your portfolio in bonds and some in equities mitigates risks between asset classes.
by Longdog
Tue Mar 27, 2018 6:22 am
Forum: Personal Finance (Not Investing)
Topic: Purchasing previous years of service. Use tax deferred or taxable funds
Replies: 5
Views: 487

Re: Purchasing previous years of service. Use tax deferred or taxable funds

I would think (without too much analysis) that if the pension is all treated as taxable income, then using after-tax money to beef it up would effectively mean that the after-tax money gets taxed a second time. With that reasoning, it would be better to use pre-tax money, as long as the purchase its...
by Longdog
Thu Mar 22, 2018 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Notice Help
Replies: 11
Views: 750

Re: IRS Notice Help

I just got a notice from the IRS stating that think there's unreported income from 2016. It lists out security transactions that were not listed on my return but were Reported to IRS by Others. For example, on 2/14/16 I tax loss harvested from All-World Ex-US to Total International. Vanguard shows ...
by Longdog
Tue Mar 20, 2018 7:33 pm
Forum: Investing - Help with Personal Investments
Topic: How to Determine Actual Muni Bond Return?
Replies: 71
Views: 4696

Re: How to Determine Actual Muni Bond Return?

Realize that while 1% or so might seem like a very low return, if you are just starting investing then you will one day experience a stock market drop of 20% or more, in which case you might feel good not having some of your assets in low yielding bonds. I'm not suggesting that you should have a lot...
by Longdog
Sun Mar 18, 2018 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning: No friends, no family - no executor
Replies: 30
Views: 2333

Re: Estate planning: No friends, no family - no executor

Slight exaggeration, but that's my problem in a nutshell. I don't know whom to name as executor of my will. Looks like a business opportunity for someone... There are lots of us in this situation. In the last few months I've had five people ask if I'd be the executor of their Wills. In each case I ...
by Longdog
Sun Mar 18, 2018 7:28 am
Forum: Personal Finance (Not Investing)
Topic: no health insurance as an early retirement strategy
Replies: 30
Views: 2071

Re: no health insurance as an early retirement strategy

I think your understanding of the pre-existing condition coverage is incomplete. As part of the ACA, you can only purchase health insurance during the open enrollment period, and for certain life events such as losing your job. Simply getting sick is not an event that allows you to purchase health i...
by Longdog
Thu Mar 15, 2018 11:55 am
Forum: Personal Consumer Issues
Topic: Geico insurance rate increase: 26.24% APY?
Replies: 75
Views: 11179

Re: Geico insurance rate increase: 26.24% APY?

With no changes in personal situation (other than turning 25yo), my policy with Geico in the state of California increased 12.35% over the prior 6 month period, which is 26.24% APY. A call to a GEICO agent suggested that there was nothing personal (just business!) about my rate increase: it was acr...
by Longdog
Wed Mar 14, 2018 6:12 pm
Forum: Investing - Help with Personal Investments
Topic: Liquidity/Sale of Brokered CD
Replies: 13
Views: 988

Re: Liquidity/Sale of Brokered CD

You’ll be able to sell it, but there is no guarantee that you’ll get par. It depends on market conditions (primarily interest rates) at the time you sell, if you don’t hold to maturity. Buy it if you intend to hold to maturity, but realize that you can sell it early if you absolutely need to, or if ...
by Longdog
Wed Mar 14, 2018 4:50 am
Forum: Investing - Help with Personal Investments
Topic: Help with how to respond to CP2000.
Replies: 26
Views: 2680

Re: Help with how to respond to CP2000.

Talk to a tax attorney NOW. Before you do anything. $10k is just on the borderline of being worth hiring an attorney, but you can get advice for a small fraction of the $10k. I am 99% sure there is no issue. In fact, they have exactly mentioned my case in one of the "potential issues". They receive...
by Longdog
Tue Mar 13, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Any reasons not to donate shares from taxable?
Replies: 42
Views: 1900

Re: Any reasons not to donate shares from taxable?

It's much easier to donate to a DAF from within the same brokerage as the post-tax account, especially if you want donate shares from specific lots. For example, if your post-tax account is with Schwab, use Schwab's DAF ("Schwab Charitable"). Similarly for Fidelity and Vanguard. (If I recall correc...
by Longdog
Tue Mar 13, 2018 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Any reasons not to donate shares from taxable?
Replies: 42
Views: 1900

Re: Any reasons not to donate shares from taxable?

It's much easier to donate to a DAF from within the same brokerage as the post-tax account, especially if you want donate shares from specific lots. For example, if your post-tax account is with Schwab, use Schwab's DAF ("Schwab Charitable"). Similarly for Fidelity and Vanguard. (If I recall correc...
by Longdog
Sat Mar 10, 2018 9:58 am
Forum: Investing - Help with Personal Investments
Topic: Amount saved by age
Replies: 58
Views: 8199

Re: Amount saved by age

One of my favorite pieces of advice early in my career was to save $1,000 by the time you're 20; $10,000 by the time you're 30; $100,000 by the time you're 40, $1,000,000 by the time you're 50; and $10,000,000 by the time you're 60. The person who gave me the advise is now just over 70, and when I r...
by Longdog
Wed Mar 07, 2018 8:06 am
Forum: Investing - Theory, News & General
Topic: Looking for an example of a fund which has beat its index for 30 years
Replies: 93
Views: 9075

Re: Looking for an example of a fund which has beat its index for 30 years

Without doing the research, and with the caveat that it most likely hasn't beaten its index regularly for years, Fidelity Magellan, in its heyday and under the management of Peter Lynch, very likely did beat its index for a decade or more in the 80s/90s. Since this is your research project, not mine...
by Longdog
Mon Mar 05, 2018 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Should I agree to have my driving monitored in exchange for lower rates?
Replies: 65
Views: 4967

Re: Should I agree to have my driving monitored in exchange for lower rates?

I did it a few years ago. I racked up a 21% discount, which was fine, and made it cheaper than the other insurers I checked with. After two years, at renewal time I decided to shop around and found lower rates at a different (highly rated) insurance company that didn’t use the device. I switched for...
by Longdog
Sun Mar 04, 2018 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Hit by AMT due to 1 year RSU vesting cliff
Replies: 29
Views: 2454

Re: Hit by AMT due to 1 year RSU vesting cliff

Changes in the tax reform law make it much less likely you’ll be hit by AMT going forward.
by Longdog
Thu Mar 01, 2018 6:40 pm
Forum: Investing - Theory, News & General
Topic: Double tax on IRA accounts to heirs
Replies: 14
Views: 1534

Re: Double tax on IRA accounts to heirs

I’d rather inherit an appreciated security in a taxable account than the same security at the same value in a tax-deferred account. Even better, I’d like to inherit it in a Roth IRA!

Does that answer your question?
by Longdog
Thu Mar 01, 2018 7:32 am
Forum: Investing - Help with Personal Investments
Topic: What should I know to open a Roth for my graduating granddaughter
Replies: 9
Views: 925

Re: What should I know to open a Roth for my graduating granddaughter

You should know that the amount that can go into her Roth is the lesser of how much she earned at a job and $5500.
by Longdog
Tue Feb 27, 2018 11:47 am
Forum: Personal Finance (Not Investing)
Topic: TaxAct mishandles tax-exempt OID
Replies: 12
Views: 558

Re: TaxAct mishandles tax-exempt OID

I’m not surprised. I have found that both TurboTax and H&R Block tax software don’t handle state returns correctly when it comes to municipal bond interest. I use the software to create and print out a return, but I use my state’s online web-based tax filing tool to submit mine, using the software’s...
by Longdog
Tue Feb 27, 2018 11:41 am
Forum: Personal Finance (Not Investing)
Topic: "FREE" Employer Group Life - Really Costs You !
Replies: 52
Views: 4252

Re: "FREE" Employer Group Life - Really Costs You !

Wow, I never really thought about that. I saw it as a free non-optional benefit. Mine is about $600, which translates to roughly $200 in extra taxes for the “free” benefit. Thanks for pointing this out.
by Longdog
Tue Feb 27, 2018 5:10 am
Forum: Personal Finance (Not Investing)
Topic: 1st year I have to pay AMT - Legitimate or an Error?
Replies: 14
Views: 1397

Re: 1st year I have to pay AMT - Legitimate or an Error?

Don’t look at just the AMT portion. Look at total taxes owed = regular taxes plus AMT. What is the difference between the two? But yes, this is how AMT works. Everyone I know who pays it is always surprised the first year it happens, including myself the first time it happened. Going forward in tax ...
by Longdog
Mon Feb 26, 2018 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Searching for Back-up Trustee
Replies: 6
Views: 515

Re: Searching for Back-up Trustee

I have a revocable trust and am looking for a back-up trustee. A family friend is my current trustee - attorney and CPA. She is having health issues, and I have been reviewing trust departments which generally want to manage your funds while you are living - with a 1% or more fee. Currently, I mana...
by Longdog
Mon Feb 26, 2018 6:56 pm
Forum: Personal Consumer Issues
Topic: Strategies for getting out of a car dealership quickly?
Replies: 78
Views: 6944

Re: Strategies for getting out of a car dealership quickly?

You do not need to explain your reasons to them. You do not need to convince them of anything.
by Longdog
Mon Feb 26, 2018 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Help with GIANT interest car loan (28%)
Replies: 44
Views: 5356

Re: Help with GIANT interest car loan (28%)

How does a car that cost $30k new 2 years ago depreciate to $4k-5k after 2 years? Doesn’t make sense.
by Longdog
Thu Feb 22, 2018 10:12 am
Forum: Investing - Theory, News & General
Topic: Bond Fund Interest as QDI?
Replies: 12
Views: 867

Re: Bond Fund Interest as QDI?

I think your question was misunderstood because the term "fixed income" is commonly used equivalently to mean bond funds. What you are basically asking is whether high dividend stock funds can have better yields compared to bond funds? Is this your question? Uh oh. I feel a “dividend versus total r...
by Longdog
Thu Feb 22, 2018 4:57 am
Forum: Investing - Help with Personal Investments
Topic: Owe IRS $33K, need help with tax planning for 2018
Replies: 24
Views: 4023

Re: OWE IRS $33K, NEED HELP WITH TAX PLANNING FOR 2018

While it won’t have a significant impact this or even next year, making backdoor Roth IRA contributions will, over time, allow a portion of your portfolio to grow without any future tax consequences, reducing what you otherwise might have in a taxable account that contributes to your tax burden. Jus...
by Longdog
Wed Feb 21, 2018 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Safe to file taxes now?
Replies: 57
Views: 4914

Re: Safe to file taxes now?

3dream3 wrote:
Tue Feb 20, 2018 10:52 pm
What do the 1099 forms really provide if you are tracking what you are doing financially over the year? Any mistake should be caught mid-year / as the transaction happens, yes?
A minor item would be whether the cost basis is reported to the IRS or not on sold shares.
by Longdog
Mon Feb 19, 2018 10:53 am
Forum: Investing - Help with Personal Investments
Topic: How to choose tax exempt bonds
Replies: 3
Views: 376

Re: How to choose tax exempt bonds

With the tax reform law just passed taking effect in 2018, it is unlikely that you will be impacted by AMT from tax year 2018 and beyond, unless another tax reform law gets passed that reverts back.
by Longdog
Sun Feb 18, 2018 7:33 pm
Forum: Investing - Help with Personal Investments
Topic: I reduced my exposure to US stocks before the correction.
Replies: 39
Views: 4226

Re: I reduced my exposure to US stocks before the correction.

So I did something unorthodox which was to reduce my exposure to US stocks **before** the recent correction. I take no particular pride in that. It was just a matter of feeling more confortable. For now, I am glad I did because I don't see much room for the US bull market given current valuations. ...
by Longdog
Fri Feb 16, 2018 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: Tax loss harvesting MUB
Replies: 11
Views: 1018

Re: Tax loss harvesting MUB

Just thought it worth pointing out that that ETF did not go down because of the recent stock market decline. It went down because of rising interest rates. It doesn’t hold stocks.
by Longdog
Thu Feb 15, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: I think I filed my back door roth incorrectly in Turbo tax
Replies: 8
Views: 723

Re: I think I filed my back door roth incorrectly in Turbo tax

I am preparing my taxes for 2017 using Turbo tax. I made a back door roth contribution for 2017. I filed the 5500 under the income section via the 1099 R provided by Vanguard. I then went to deductions and claimed it as a non deductible transfer from a TIRA to a RIRA. it applied this 5500 as income...
by Longdog
Wed Feb 14, 2018 10:34 am
Forum: Investing - Help with Personal Investments
Topic: Incorrect cost basis on Fidelity tax statements
Replies: 12
Views: 1037

Re: Incorrect cost basis on Fidelity tax statements

It seems like there must be some sort of problem at Fido if the OP has short term losses on a stock with no basis information available since brokers have been required to track that on purchases made since 2011. Some stocks are still not covered, for example MLPs which report tax info on a K1 and ...
by Longdog
Tue Feb 13, 2018 11:02 am
Forum: Investing - Theory, News & General
Topic: What if you only live off dividends?
Replies: 316
Views: 33859

Re: What if you only live off dividends?

Yes, you can do that. It basically means being very conservative with your expenses relative to your assets. Some would say being more conservative than necessary, but I think it all depends on your values: whether you have a goal to leave money to heirs and/or charities, and what you want your stan...
by Longdog
Mon Feb 12, 2018 10:34 am
Forum: Investing - Help with Personal Investments
Topic: Ally Bank no penalty CD withdrawal
Replies: 5
Views: 1139

Re: Ally Bank no penalty CD withdrawal

For an 11-month no penalty CD at Ally, the "current balance" is the purchase price of the CD. Interest accumulates but is not distributed until the CD is closed early or it matures.
by Longdog
Sat Feb 10, 2018 7:56 am
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 679
Views: 54726

Re: To take or not to take delivery of Tesla 3

At the reveal the original date was 19/20. Then when they got the nearly 400K reservations he moved it up which started this whole OMG we have do it now and spend $1B a year to do it. Yeah by July 17 he was expecting more but oh well can't always be right. :D Of course not. Nobody is always right. ...
by Longdog
Fri Feb 09, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Successor Trustee questions
Replies: 5
Views: 427

Re: Successor Trustee questions

Is there any chance you can distribute the assets you expect to pay dividends to the beneficiaries before their ex-dividend dates? If so, it could simplify your record keeping. Perhaps it’s too late, but if the dividend amount paid so far is below the filing threshold for trusts and estates, and you...
by Longdog
Fri Feb 09, 2018 7:48 am
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 679
Views: 54726

Re: To take or not to take delivery of Tesla 3

Anyone else have a delivery estimate that is teetering on the edge of the phaseout (presumably end of Q3 based on most estimates, credit cuts in half beginning Q4) and and getting cold feet as a result? My projected delivery date was pushed to Mar-May, if I choose the LR RWD premium upgrades versio...
by Longdog
Thu Feb 08, 2018 5:18 am
Forum: Investing - Theory, News & General
Topic: The mechanics of exercising Stock Appreciate Rights
Replies: 5
Views: 462

Re: The mechanics of exercising Stock Appreciate Rights

As part of my compensation, my publicly traded MegaCo employer grants me Stock Appreciation Rights annually that vest over time. They are similar to, but not exactly the same as, stock options. Their value is equal to the current market price of the stock less the grant price, so if the stock goes ...
by Longdog
Wed Feb 07, 2018 8:12 pm
Forum: Investing - Theory, News & General
Topic: The mechanics of exercising Stock Appreciate Rights
Replies: 5
Views: 462

Re: The mechanics of exercising Stock Appreciate Rights

Pajamas wrote:
Wed Feb 07, 2018 3:07 pm
Generally, from treasury stock.

https://www.investopedia.com/terms/t/treasurystock.asp
Thanks. That makes sense. I was unaware of that term.
by Longdog
Wed Feb 07, 2018 2:53 pm
Forum: Investing - Theory, News & General
Topic: The mechanics of exercising Stock Appreciate Rights
Replies: 5
Views: 462

The mechanics of exercising Stock Appreciate Rights

As part of my compensation, my publicly traded MegaCo employer grants me Stock Appreciation Rights annually that vest over time. They are similar to, but not exactly the same as, stock options. Their value is equal to the current market price of the stock less the grant price, so if the stock goes u...
by Longdog
Wed Feb 07, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: would this be considered a wash sale?
Replies: 6
Views: 351

Re: would this be considered a wash sale?

so i'm looking at the wash sale rules, and scottrade has the following example: Example#3 - Wash sale May 10 buy 50 shares of XYZ for $500.00 May 10 buy 50 shares of XYZ for $500.00 May 11 sell 50 shares of XYZ for $450.00 Example#3 is a wash sale because it met both requirements for the wash sale ...
by Longdog
Tue Feb 06, 2018 12:51 pm
Forum: Investing - Help with Personal Investments
Topic: sell and wait for further drop on Tax-Advantaged accounts?
Replies: 8
Views: 562

Re: sell and wait for further drop on Tax-Advantaged accounts?

Just so I understand, you are saying that while you know it's not a great idea to time the market, you are asking if it is a good idea to time the market?
by Longdog
Tue Feb 06, 2018 12:45 pm
Forum: Investing - Help with Personal Investments
Topic: Where would you tell a 12 year old to park his money
Replies: 32
Views: 1935

Re: Where would you tell a 12 year old to park his money

My son is 12 and has 1500 to invest (years of savings allowance and holiday money). He opened an etrade account years ago (in my name) and has some shares of Apple, iRobot and ShakeShack. He is ready to move onto index funds -- I just opened an account for him at Vanguard. Where would you suggest a...