Search found 492 matches

by MP123
Thu Apr 19, 2018 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Applying for ACA ?
Replies: 9
Views: 562

Re: Applying for ACA ?

Manage your taxable income… If you go a dollar over the subsidy income limit, you are not eligible for a subsidy. This is very true. Also, if there's no way to keep your income under the subsidy limit you should price plans directly from the insurance companies too. There may not be any advantage t...
by MP123
Wed Apr 18, 2018 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating Future College Costs
Replies: 18
Views: 1086

Re: Estimating Future College Costs

As with many things: it depends.

But I can report that our recent grad cost roughly $45k/yr including tuition/r&b/books/car/phone and so on.

I can't imagine what college will cost in 15 years but you're smart to start funding the 529 plans early and well...
by MP123
Wed Apr 18, 2018 3:54 pm
Forum: Personal Consumer Issues
Topic: Best places to find discontinued appliance parts?
Replies: 7
Views: 535

Re: Best places to find discontinued appliance parts?

I've used https://www.repairclinic.com/ for appliance parts several times. It's worth check to see if they have it.
by MP123
Fri Apr 13, 2018 10:24 pm
Forum: Personal Consumer Issues
Topic: Alaska - 8 nights in May
Replies: 10
Views: 839

Re: Alaska - 8 nights in May

We did a similar road trip and found Denali a bit disappointing and a long haul. Girdwood/Alyeska, Kenai, Seward area more interesting but that depends on where you're coming from and what you're looking for. Don't underestimate distances and times, those roads are slow. Beautiful area though and a ...
by MP123
Thu Apr 05, 2018 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: My first CP2000 letter from IRS! Am I missing something?
Replies: 14
Views: 1224

Re: My first CP2000 letter from IRS! Am I missing something?

If you reported this on your return, no tax impact notwithstanding then it appears that they are in error. Yes. I reported it as part of my "Total Distribution" (Line 15a), but did not include it in "taxable distributions" (Line 15b). I believe that is the right way to report such rollovers. My und...
by MP123
Thu Apr 05, 2018 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Used a Healthcare Broker--and I liked it!
Replies: 15
Views: 2109

Re: Used a Healthcare Broker--and I liked it!

How does one get a group plan if not employed or a business owner? You don't, or you start a business and deal with payroll, benefits, etc. I think the assumption is that if you're able to work/run a business, you aren't seriously ill, so you can get decent rates. Generally your business needs to e...
by MP123
Wed Apr 04, 2018 4:17 pm
Forum: Investing - Theory, News & General
Topic: EverBank Novel CD Product
Replies: 18
Views: 1802

Re: EverBank Novel CD Product

Aren't their rates still fairly competitive for basic products? They are still using the term "Yield Pledge" for checking, money market, CDs, etc. and promising to be in the top 5% for interest rates. Yes, they're pretty good but you do have to watch out for the initial "teaser" rate (3 months or s...
by MP123
Wed Apr 04, 2018 4:05 pm
Forum: Investing - Help with Personal Investments
Topic: Any Limits to number of transactions with ETFs?
Replies: 4
Views: 363

Re: Any Limits to number of transactions with ETFs?

stocknoob4111 wrote:
Wed Apr 04, 2018 4:01 pm
well, I know day traders buy and sell multiple times a day, do they use different accounts? how do they do it?
They don't use Vanguard as their broker.
by MP123
Wed Apr 04, 2018 12:46 pm
Forum: Investing - Theory, News & General
Topic: EverBank Novel CD Product
Replies: 18
Views: 1802

Re: EverBank Novel CD Product

EverBank has had a number of very creative CD products over the years. Including one with returns tied to the Icelandic Krona that completely blew up a few years back.

I like them for money market but not really tempted by their CDs.
by MP123
Wed Apr 04, 2018 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this condo?
Replies: 37
Views: 2499

Re: Can I afford this condo?

$185,000 is probably ten times what I would consider "limited income". Even in the wacky world of bogleheads that's a pretty good income. As long as we're digging into this further, how much is your current primary residence worth? And what's the mortgage balance? $15,500 annual property tax suggest...
by MP123
Tue Apr 03, 2018 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this condo?
Replies: 37
Views: 2499

Re: Can I afford this condo?

delamer wrote:
Tue Apr 03, 2018 10:12 pm


Now if you wanted to sell your current home and relocate to the Florida condo, that could be a good move.
Third this.

What's your approximate income to put the rest in perspective?
by MP123
Tue Apr 03, 2018 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: ACA/tIRA question
Replies: 14
Views: 685

Re: ACA/tIRA question

Yes, and with an HSA account (assuming eligible) they could fine tune their MAGI even lower if needed. Don't want to make it too low for ACA though especially in states that didn't expand Medicaid. A fine point for my example is that cost sharing plans by definition can not be HSA qualified plans. ...
by MP123
Tue Apr 03, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: ACA/tIRA question
Replies: 14
Views: 685

Re: ACA/tIRA question

Yes, and with an HSA account (assuming eligible) they could fine tune their MAGI even lower if needed. Don't want to make it too low for ACA though especially in states that didn't expand Medicaid. A fine point for my example is that cost sharing plans by definition can not be HSA qualified plans. ...
by MP123
Tue Apr 03, 2018 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Profit Sharing Contribution
Replies: 2
Views: 188

Re: S Corp Profit Sharing Contribution

Gross.

And remember that can include your HSA and Health Insurance if you pay them through the S-Corp and they are box 1 of your W2.
by MP123
Tue Apr 03, 2018 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: ACA/tIRA question
Replies: 14
Views: 685

Re: ACA/tIRA question

For example, for 2017 a self-employed individual could have: $60,000 Line 12 Business Profit $ 3,500 Line 7 - 21 ex-Line 12 $63,500 Line 22 Total Income $ 4,239 Line 27 1/2 SE Tax $35,152 Line 28 One-participant 401k ($18K employee + $6K catch-up + $11,152 employer) $ 300 Line 29 Self-employed heal...
by MP123
Tue Apr 03, 2018 12:01 pm
Forum: Investing - Theory, News & General
Topic: Best longevity calculator?
Replies: 32
Views: 2688

Re: Best longevity calculator?

For the vast majority of couples there will only be one long term survivor. This has serious implications for spending patterns. Does one person need only half as much as two? Well, no. But there is a lower need. This is very true. And it also has implications for income: half the SS, survivor bene...
by MP123
Mon Apr 02, 2018 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida
Replies: 11
Views: 909

Re: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida

Might be good to run it by your malpractice insurer too to make sure it works OK with that. what exactly are you suggesting I ask? Something like "is a medical malpractice claim towards either my spouse or myself able/likely to result in a judgment against the LLC we both own?' Or does the malpract...
by MP123
Mon Apr 02, 2018 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida
Replies: 11
Views: 909

Re: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida

Might be good to run it by your malpractice insurer too to make sure it works OK with that.
by MP123
Mon Apr 02, 2018 4:33 pm
Forum: Investing - Help with Personal Investments
Topic: Did I just screw up my first attempt at tax loss harvesting?
Replies: 12
Views: 724

Re: Did I just screw up my first attempt at tax loss harvesting?

veindoc wrote:
Mon Apr 02, 2018 4:28 pm
I thought the fund I was purchasing into (the prime money market fund) was not supposed to have any transactions for 30 days as well. That's not the case?
Did you sell any of the PMMF at a loss in the last 30 days? That would be almost impossible to do.
by MP123
Mon Apr 02, 2018 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: Did I just screw up my first attempt at tax loss harvesting?
Replies: 12
Views: 724

Re: Did I just screw up my first attempt at tax loss harvesting?

I don't see a wash sale from what you've described. But I may not understand it completely either.

Sounds like you sold a portion of your dividend growth fund at a loss and didn't buy any replacement shares? Where do you think the wash sale is?
by MP123
Mon Apr 02, 2018 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Harvest losses of Muni funds in taxable..are these similar?
Replies: 11
Views: 401

Re: Harvest losses of Muni funds in taxable..are these similar?

I see no way those funds are " substantially identical " which is the test. IMO they are "somewhat similar" at best. But since you own them both already I don't see how you can "swap" them without rebuying the same fund which would be a wash sale unless you sold them both and then waited the 30 day...
by MP123
Mon Apr 02, 2018 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: Harvest losses of Muni funds in taxable..are these similar?
Replies: 11
Views: 401

Re: Harvest losses of Muni funds in taxable..are these similar?

I see no way those funds are " substantially identical " which is the test. IMO they are "somewhat similar" at best. But since you own them both already I don't see how you can "swap" them without rebuying the same fund which would be a wash sale unless you sold them both and then waited the 30 days...
by MP123
Sun Apr 01, 2018 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawing from a Roth Account for ACA Subsidy Reasons
Replies: 7
Views: 772

Re: Withdrawing from a Roth Account for ACA Subsidy Reasons

How do you plan to avoid the 10% early withdrawal penalty? The OP said the plan was to withdraw Roth contributions. Contributions to a Roth can be withdrawn without tax or penalty at any time. As long as they avoid withdrawing the growth rather than the original amounts contributed, no penalties ap...
by MP123
Sun Apr 01, 2018 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Withdrawing from a Roth Account for ACA Subsidy Reasons
Replies: 7
Views: 772

Re: Withdrawing from a Roth Account for ACA Subsidy Reasons

How do you plan to avoid the 10% early withdrawal penalty? The "substantially equal periodic payments" method might work but might just cause more issues down the road. Without speculating about the future of ACA I'll just say that you might not want to be locked into having to take Roth withdrawals...
by MP123
Sat Mar 31, 2018 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 287
Views: 19658

Re: Got my Ruth's Chris seminar invitation, "Surviving Retirement"

Equity indexed, to be precise. You know the kind...where you get "the stock market return with none of the risk". Don't get too excited when they show you the chart comparing their equity indexed annuity's performance with the S&P500...spoiler alert: the chart they show you of the S&P500 index fund...
by MP123
Sat Mar 31, 2018 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Profit Contribution to Solo 401k
Replies: 11
Views: 505

Re: S Corp Profit Contribution to Solo 401k

A Solo or Individual 401k is a "one participant" plan. It's only for businesses (including S-Corps) that don't have employees other than the owner and spouse.

ETA: I'm trying to say there wouldn't be any employees who weren't shareholders that would be eligible for the i401k in the first place...
by MP123
Sat Mar 31, 2018 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Profit Contribution to Solo 401k
Replies: 11
Views: 505

Re: S Corp Profit Contribution to Solo 401k

Good point on your sentence above that I highlighted. Can employees who aren't shareholders of the S-Corp... 1. ...receive full Family HSA contribution from employER? 2. ...have health insurance premiums paid by employER? Yes, but I believe those would be reported in box 12 rather than in box 1 as ...
by MP123
Sat Mar 31, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Profit Contribution to Solo 401k
Replies: 11
Views: 505

Re: S Corp Profit Contribution to Solo 401k

in case like the original poster's where one spouse's W-2 salary is higher than the other's, does it make sense to apply to the lower-paid spouse Both the employER's full Family HSA contribution Plus the health insurance premiums paid by employER, so as to increase the W-2 Box 2 of said spouse, all...
by MP123
Sat Mar 31, 2018 11:09 am
Forum: Personal Finance (Not Investing)
Topic: state tax to Washigton or not
Replies: 4
Views: 515

Re: state tax to Washigton or not

quantAndHold wrote:
Sat Mar 31, 2018 10:03 am
Washington doesn’t have state income tax. So....no. Even if you lived in Washington, you wouldn’t do this.
However, Washington does have a Business and Occupation tax (B&O) that does tax royalties.

So if the OP lived in WA he would owe B&O tax but not state income tax.
by MP123
Fri Mar 30, 2018 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: HSA contribution
Replies: 10
Views: 1263

Re: HSA contribution

Get married. And old... Then you can do $7850! :happy
by MP123
Fri Mar 30, 2018 4:25 pm
Forum: Investing - Help with Personal Investments
Topic: Opened i401k last year, any reason to keep SEP?
Replies: 3
Views: 265

Re: Opened i401k last year, any reason to keep SEP?

Rolling it into the i401k would set you up for backdoor Roths but it sounds like that's not an issue. If/when your i401k gets over $250k you need to file a 5500EZ form annually. That doesn't apply to SEPs. It's an easy form to file but you don't want to forget. If the funds in your SEP would bump yo...
by MP123
Fri Mar 30, 2018 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: Opening an individual 401k to complement my SEP IRA
Replies: 8
Views: 408

Re: Opening an individual 401k to complement my SEP IRA

I wonder why Vanguard wouldn't allow the SEP rollover into the solo 401k? I'll have to look into that. I'm not sure, it does seem limiting. My understanding is that they also don't let you buy Admiral class shares of their funds or ETFs in their i401k as well but I don't know that for sure. Schwab ...
by MP123
Thu Mar 29, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: As a standard employee, I owe a TON this tax season... why?
Replies: 16
Views: 3477

Re: As a standard employee, I owe a TON this tax season... why?

My W2 was about $393k, a large bulk of that income came in one month where I made about $130k in one month mostly all on one paycheck mid way through the year. Given that the average household income is around 60k, less than half of what you made in one month, you are anything but a standard W-2 em...
by MP123
Thu Mar 29, 2018 5:11 pm
Forum: Investing - Help with Personal Investments
Topic: Wash sale question- are ITOT and VTI Substantially Identical?
Replies: 60
Views: 3376

Re: Wash sale question- are ITOT and VTI Substantially Identical?

Worth mentioning that if you do have a disallowed loss due to wash sale in a taxable account it gets added to the cost basis of the replacement security. In other words you still get the loss, you just have to wait to realize it when you sell the replacement stock outside of the wash sale window. No...
by MP123
Thu Mar 29, 2018 4:30 pm
Forum: Investing - Theory, News & General
Topic: Mutual funds that invest in physical gold?
Replies: 27
Views: 1581

Re: Mutual funds that invest in physical gold?

The Merk Fund. It invest in physical gold that is held in Perth Australia. But that's an ETF, right? OP needs a Mutual Fund. I don't think you are going to get a mutual fund. I don't think it would meet the diversification test that a mutual fund has to meet by law. Yes, that may very well be why t...
by MP123
Thu Mar 29, 2018 4:19 pm
Forum: Investing - Theory, News & General
Topic: Mutual funds that invest in physical gold?
Replies: 27
Views: 1581

Re: Mutual funds that invest in physical gold?

bearcub wrote:
Thu Mar 29, 2018 4:09 pm
The Merk Fund. It invest in physical gold that is held in Perth Australia.
But that's an ETF, right? OP needs a Mutual Fund.
by MP123
Thu Mar 29, 2018 3:44 pm
Forum: Investing - Help with Personal Investments
Topic: Wash sale question- are ITOT and VTI Substantially Identical?
Replies: 60
Views: 3376

Re: Wash sale question- are ITOT and VTI Substantially Identical?

Your broker won't report them as a wash sale. Whether you should or not is not clear.

I think they're pretty close but not "substantially identical". Others would disagree with that.
by MP123
Thu Mar 29, 2018 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: If I got money from the ACA and my income drops below 12k in Missouri would I have to pay back the money at tax time?
Replies: 15
Views: 961

Re: If I got money from the ACA and my income drops below 12k in Missouri would I have to pay back the money at tax time

Or Roth conversions to boost income over the 100% of FPL might help. Assuming you have enough assets that you won't qualify for Medicaid in your state.
by MP123
Thu Mar 29, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: If I got money from the ACA and my income drops below 12k in Missouri would I have to pay back the money at tax time?
Replies: 15
Views: 961

Re: If I got money from the ACA and my income drops below 12k in Missouri would I have to pay back the money at tax time

If your MAGI goes under 100% of FPL I don't think you need to repay subsidies but you will likely go on Medicaid rather than ACA plans. Even if you do have to repay that repayment amount is capped. Assuming good faith and the Marketplace estimated your income as 100-400% of FPL. Missouri's state go...
by MP123
Thu Mar 29, 2018 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: If I got money from the ACA and my income drops below 12k in Missouri would I have to pay back the money at tax time?
Replies: 15
Views: 961

Re: If I got money from the ACA and my income drops below 12k in Missouri would I have to pay back the money at tax time

If your MAGI goes under 100% of FPL I don't think you need to repay subsidies but you will likely go on Medicaid rather than ACA plans. Even if you do have to repay that repayment amount is capped. Assuming good faith and the Marketplace estimated your income as 100-400% of FPL.
by MP123
Thu Mar 29, 2018 12:52 pm
Forum: Investing - Help with Personal Investments
Topic: Opening an individual 401k to complement my SEP IRA
Replies: 8
Views: 408

Re: Opening an individual 401k to complement my SEP IRA

MP123, thanks for the valuable info. Currently I don't have my LLC set up to pay me a salary to I don't get a W-2. Would I need to set that up to take advantage of your Solo 401K scenario? No, you don't need to. If you're taxed as a solo proprietor then your "employer" contribution is up to 20% of ...
by MP123
Thu Mar 29, 2018 11:58 am
Forum: Investing - Help with Personal Investments
Topic: Opening an individual 401k to complement my SEP IRA
Replies: 8
Views: 408

Re: Opening an individual 401k to complement my SEP IRA

The solo 401k will allow you to put away a lot more money since it allows you to defer part of your salary as well as making the same employer contribution that you can with the SEP. You can put away an additional $18,500 or $24,500 if over 50 on top of the 25% of wages. As mentioned above it's too ...
by MP123
Thu Mar 29, 2018 11:26 am
Forum: Investing - Help with Personal Investments
Topic: Any holes in my TLH logic?
Replies: 1
Views: 170

Re: Any holes in my TLH logic?

ibhhvc wrote:
Thu Mar 29, 2018 11:04 am
I think I'm fine, and the exchange on 3/23 has no bearing because it's an exchange between three other stocks that are all not substantially identical to VTIAX. Are there any holes in my logic?
I agree. The intermediate transactions aren't a wash sale.
by MP123
Wed Mar 28, 2018 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Profit Contribution to Solo 401k
Replies: 11
Views: 505

Re: S Corp Profit Contribution to Solo 401k

The employER 25% contribution shows up on line 17 of your 1120S (and reduces your K1). It doesn't go through payroll the way that your employEE salary deferral portion does. Be careful that you don't over contribute if you divide the expected contribution throughout the year and end up with less W2 ...
by MP123
Wed Mar 28, 2018 3:45 pm
Forum: Investing - Theory, News & General
Topic: Mutual funds that invest in physical gold?
Replies: 27
Views: 1581

Re: Mutual funds that invest in physical gold?

The "gold" or "precious metals" mutual funds typically hold mining stocks and maybe a token amount of bullion, generally with a high ER and/or loads. IIRC funds either invest in gold (physical or synthetic) or mining stocks, rarely both. Agreed, most gold mutual funds just hold mining company stock...
by MP123
Wed Mar 28, 2018 12:00 pm
Forum: Investing - Theory, News & General
Topic: Mutual funds that invest in physical gold?
Replies: 27
Views: 1581

Re: Mutual funds that invest in physical gold?

I don't think there are any MFs that hold 100% physical gold in the way that the gold ETFs (IUA, GLD) do. The "gold" or "precious metals" mutual funds typically hold mining stocks and maybe a token amount of bullion, generally with a high ER and/or loads. Leaving aside the wisdom of investing in gol...
by MP123
Tue Mar 27, 2018 9:54 pm
Forum: Personal Consumer Issues
Topic: Checklist for Parents of Incoming Freshmen/To-Be Adult
Replies: 67
Views: 3926

Re: Checklist for Parents of Incoming Freshmen/To-Be Adult

livesoft wrote:
Tue Mar 27, 2018 6:38 pm

Put her parents on her cell phone plan and pay everybody's cell phone bills.

Same for netflix and amazon prime.
LOL, yes! And maybe the car and health insurance too. :D
by MP123
Tue Mar 27, 2018 1:48 pm
Forum: Personal Consumer Issues
Topic: Underrated places to visit in U.S.?
Replies: 126
Views: 11137

Re: Underrated places to visit in U.S.?

Methow, WA and the surrounding area always looked like a quiet and beautiful place. I've never been there, however. Any thoughts on that area? The Methow valley is indeed a quiet and beautiful place. It's surrounded by some of the best scenery and hiking in the lower 48 states in the North Cascades...
by MP123
Mon Mar 26, 2018 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: Contribute more than $55K/year as self-employed?
Replies: 8
Views: 966

Re: Contribute more than $55K/year as self-employed?

I assume you're taking the self employed health insurance deduction and maxing out your HSA contributions?
by MP123
Mon Mar 26, 2018 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: When to Take Social Security (again...)
Replies: 62
Views: 5118

Re: When to Take Social Security (again...)

But spending down my own nest egg more than normal from 63-70, because I assume nothing will change with Social Security, is also a risk. Of course you're also assuming that nothing is going to change regarding the taxation of your nest egg. That's a risk too. The good news is you can change your m...