Search found 115 matches

by MP123
Sun Sep 10, 2017 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Am I overinsured on my autos?
Replies: 20
Views: 1510

Re: Am I overinsured on my autos?

I would say you are underinsured on your limits and overinsured on the deductible. +1 Increase your deductible, increase your limits and shop around. 50/100 is low - I would have 100/300 as a bare minimum and go higher if you can. Also do a full review of your coverage. Do you need comprehensive/co...
by MP123
Sat Sep 09, 2017 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Thought on including this in net equity calculations
Replies: 7
Views: 491

Re: Thought on including this in net equity calculations

That's a bit like buying a lottery ticket and counting the potential multi-million dollar jackpot in your NW ahead of time. I wouldn't but I guess if it makes you feel better to do so then go ahead, lots of people fudge their net worth to themselves. It really depends on how you're planning to use y...
by MP123
Fri Sep 08, 2017 4:13 pm
Forum: Personal Consumer Issues
Topic: Do I need an Amazon Echo??.....
Replies: 68
Views: 4664

Re: Do I need an Amazon Echo??.....

Sending every word said in my house to Amazon to be analyzed? :shock:

No thanks.
by MP123
Fri Sep 08, 2017 12:25 pm
Forum: Investing - Theory, News & General
Topic: [Bitcoin] question
Replies: 125
Views: 8396

Re: If Ethereum was hacked then the creators edited the ledger, doesnt that mean...

So if 51% of the miners (by computer power) decide they'd rather see a different ledger and account balances they are free to create it?

Frankly that doesn't sound very secure. At all...
by MP123
Tue Aug 22, 2017 1:38 pm
Forum: Personal Consumer Issues
Topic: "Forget Tough Passwords: New Guidelines Make It Simple"
Replies: 43
Views: 5430

Re: "Forget Tough Passwords: New Guidelines Make It Simple"

The main risk is that the hackers will get a hold of the password file from the web site, and then throw heavy compute resources at it (e.g. purchased from Amazon cloud computing) to break all the easy passwords. That's why a website should never store your password but rather a hashed value that c...
by MP123
Thu Aug 17, 2017 12:51 pm
Forum: Personal Consumer Issues
Topic: popcorn ceiling, removal or drywall over it?
Replies: 41
Views: 2779

Re: popcorn ceiling, removal or drywall over it?

I've had good luck with wetting down and scraping the popcorn off. Much will depend on how the sheetrock itself looks, the popcorn was sprayed there to help cover up imperfections, lumps over joists, mismatched joints, and so on that may be revealed when you scrape it off. If your house was built in...
by MP123
Thu Aug 17, 2017 12:39 pm
Forum: Personal Consumer Issues
Topic: Postal Service -- "informed delivery"
Replies: 115
Views: 7331

Re: Postal Service -- "informed delivery"

This service is pretty handy but it does make me wonder about who else might be getting scanned images of the outside of my mail. Government agencies? advertisers? I guess they're getting it already though so I might as well too...
by MP123
Wed Aug 09, 2017 2:26 pm
Forum: Investing - Help with Personal Investments
Topic: Muni Bonds and Taxes.
Replies: 24
Views: 1628

Re: Muni Bonds and Taxes.

Correct assuming you live in California and are buying a CA bond fund. I don't think any states tax interest from their own muni bonds but many do tax interest from other states bonds which is why they have state specific funds. Muni bond interest isn't taxed at a Federal level either. If you live i...
by MP123
Tue Aug 08, 2017 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowner's Insurance Coverage
Replies: 14
Views: 1506

Re: Homeowner's Insurance Coverage

If you have a mortgage on the property your lender may require a certain amount of coverage.

Or maybe construction costs in your area have gone up a great deal? In many areas this is the case.
by MP123
Mon Aug 07, 2017 1:05 pm
Forum: Investing - Help with Personal Investments
Topic: Gift for children in 25 years in taxable account or UGMA/UTMA?
Replies: 13
Views: 999

Re: Gift for children in 25 years in taxable account or UGMA/UTMA?

UGMA/UTMA accounts are taxable accounts for which the owner (child) would need to file taxes, should the capital gains and dividends, combined with other income, meet the threshold for needing to file. The threshold for dependents is lower than for other taxpayers. In addition the child may be subj...
by MP123
Thu Aug 03, 2017 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 23781

Re: A poll: How much money do you need to retire?

"I am shocked by the amounts that people are listing. I assume either a) they want to live fairly lavishly or b) they are listing the amount they "want"." I am 52. My NW is over $30mm and I am not convinced I have enough to retire. $22mm stocks, bonds cash, $9mm real estate. No debt. 6 kids. Lots o...
by MP123
Fri Jul 21, 2017 12:28 pm
Forum: Personal Consumer Issues
Topic: car rental at OGG, any opinions?
Replies: 30
Views: 1748

Re: car rental at OGG, any opinions?

Picking up a car at Kahului (OGG) is pretty much always bad no matter which company you use. They get swamped when all the flights from the mainland arrive at about the same time. You just have to be patient. If you don't need a car (and you likely do) on Maui you might try Roberts for airport trans...
by MP123
Wed Jul 19, 2017 11:47 am
Forum: Personal Finance (Not Investing)
Topic: State Farm - Insurance checkup
Replies: 8
Views: 851

Re: State Farm - Insurance checkup

I got a similar call from my State Farm agent and took him up on it. The "review" seemed to mostly be an opportunity to try to sell me various flavors of Whole Life insurance. It was a good time to increase some deductibles and limits though. Probably worth sitting down with your agent but you might...
by MP123
Tue Jul 04, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Help with choosing health insurance
Replies: 9
Views: 980

Re: Help with choosing health insurance

Its worth checking the websites of the various plans to see what providers are in- and out- of network in your area. If essentially all of the hospitals and Drs. are in network then chances are you won't end up with out of network billings anyway. Also, the HSA plan likely allows you (and/or your em...
by MP123
Mon Jul 03, 2017 6:14 pm
Forum: Investing - Theory, News & General
Topic: What's the ideal safe retirement net worth target?
Replies: 225
Views: 33857

Re: What's the ideal safe retirement net worth target?

An eye opener :happy "A June 2015 Government Accountability Office analysis found that that average Americans between the ages of 55 and 64 have accrued about $104,000 in retirement savings" http://www.investopedia.com/articles/personal-finance/011216/average-retirement-savings-age-2016.asp This ma...
by MP123
Mon Jul 03, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance form regarding stacking of limits
Replies: 6
Views: 775

Re: Insurance form regarding stacking of limits

It might also be referring to the Umbrella policy limit with respect to the underlying policy limits.
by MP123
Wed Jun 28, 2017 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: what would you do? considering relocating and visiting area first
Replies: 10
Views: 925

Re: what would you do? considering relocating and visiting area first

Most realtors would be happy to orient you to the area, take you on a tour, maybe show you a few places. Maybe you can get a recommendation of one and set something up before you go.
by MP123
Sun Jun 11, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Tax gain harvesting for kids' UTMA accts
Replies: 17
Views: 1497

Re: Tax gain harvesting for kids' UTMA accts

aristotelian wrote:Just wait til they inherit the money and teach them to do it. Odds are they will still be in 15% bracket at 18 or 21 and then they will learn something from it.


Just remember they may be subject to kiddie tax up until age 24 if they're a full time student even after the UTMA is turned over to them.
by MP123
Fri Jun 09, 2017 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Check made out to me, not S-Corp
Replies: 8
Views: 1055

Re: Check made out to me, not S-Corp

At year end they may send you personally a 1099 rather than your S-Corp so watch for that assuming they have your SSN instead of the S-Corp's EIN.
by MP123
Fri Jun 09, 2017 2:42 pm
Forum: Investing - Help with Personal Investments
Topic: Son's UTMA account
Replies: 46
Views: 3255

Re: Son's UTMA account

^Well, one reason to use a UTMA account is that grandparents don't want the parents (or son-in-law or daughter-in-law or ...) to have any control of the money. Right, a lot of these accounts are money that comes from someone other than the parent. Also, I think before the kiddie tax caught up with ...
by MP123
Fri May 19, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Carryover Losses and Tax Gain Harvesting
Replies: 4
Views: 521

Re: Carryover Losses and Tax Gain Harvesting

$400k in carryover losses? Ouch. Hard to say what the future holds for tax legislation but they could certainly use it today to offset their capital gains (if any) which would reduce their taxes and thus increase the estate size potentially. I would imagine that in their mid-70s the value of the $3,...
by MP123
Fri May 19, 2017 1:21 pm
Forum: Personal Consumer Issues
Topic: Few days in Portland in July
Replies: 36
Views: 2797

Re: Few days in Portland in July

In addition to the Japanese garden there's a Chinese garden right in downtown and easier to get to. It's a pleasant oasis in the city and doesn't take nearly the time that the Japanese garden does. The Saturday market on the river is a good time if you're a shopper, there's also a Farmers market at ...
by MP123
Wed May 17, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need a LLC to Do Consulting Work
Replies: 20
Views: 2521

Re: Do I need a LLC to Do Consulting Work

In some industries, the companies only want to contract with an LLC or Corporation for consulting services to ease the risks on their end. This was the case for a friend of mine that did consulting for several years. That has been my experience too. Organizing as a Corp or LLC will make things much...
by MP123
Thu May 11, 2017 1:53 pm
Forum: Investing - Theory, News & General
Topic: Did you buy SNAP?
Replies: 116
Views: 10989

Re: Did you buy SNAP?

chicagoan23 wrote:Not a bad report today, only a $2.2 billion loss on $150 million in revenue.


Ha! No problem, they'll make it up on volume! :)
by MP123
Thu May 11, 2017 11:52 am
Forum: Personal Finance (Not Investing)
Topic: any concern about keeping large amount of cash at Vanguard
Replies: 24
Views: 3270

Re: any concern about keeping large amount of cash at Vanguard

In addition to the $5 million dollar minimum the Prime fund is subject to liquidity fees and redemption gates as well as a floating NAV. It's not at all the same thing as the Federal MM. In the Prime fund they are telling you upfront that in a meltdown you will only have access to a portion of your ...
by MP123
Mon May 08, 2017 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Will or Trust?
Replies: 13
Views: 1524

Re: Will or Trust?

Do you have a relative or close friend that you would feel comfortable serving as Trustee? There are significant ongoing costs if you need to have a professional corporate trustee administer the trust. It's not really an either/or question though and you should have a Will even if you also have a Tr...
by MP123
Sat Apr 29, 2017 5:03 pm
Forum: Personal Consumer Issues
Topic: Pressure relief valve on hot water heater issue
Replies: 55
Views: 3755

Re: Pressure relief valve on hot water heater issue

How old is the tank? You may have fixed the leak by flushing the valve. On the other hand they're cheap and easy to replace. The PRV is there so that if the tank's thermostat fails and runs away the whole thing won't explode from the steam pressure. That would be very very bad. The tank is 3 years ...
by MP123
Sat Apr 29, 2017 4:43 pm
Forum: Personal Consumer Issues
Topic: Pressure relief valve on hot water heater issue
Replies: 55
Views: 3755

Re: Pressure relief valve on hot water heater issue

How old is the tank?

You may have fixed the leak by flushing the valve. On the other hand they're cheap and easy to replace. The PRV is there so that if the tank's thermostat fails and runs away the whole thing won't explode from the steam pressure. That would be very very bad.
by MP123
Sat Apr 29, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: When to consider Long Term Care Insurance
Replies: 38
Views: 3211

Re: When to concider Long Term Care Insurance

These days it's very hard to get a good LTCI policy. Companies have been cutting back quite a bit since they've lost a bundle on them. If you're lucky enough to be grandfathered into an existing policy with good terms then I'd keep it otherwise I'm not sure that you'll find any policy that's worth p...
by MP123
Fri Apr 28, 2017 11:26 am
Forum: Investing - Help with Personal Investments
Topic: Need to pull money out of my brokerage account. Anything to watch out for?
Replies: 17
Views: 1447

Re: Need to pull money out of my brokerage account. Anything to watch out for?

The transaction itself is routine but you may want to be sure the mortgage company is expecting it. They can be quite particular about the source of funds used as a downpayment. You may need to document how it suddenly showed up in your checking account for example. It's not a major problem but you ...
by MP123
Mon Apr 03, 2017 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Please check my AMT understanding
Replies: 9
Views: 1212

Re: Please check my AMT understanding

Hmmm... If they deducted their state income tax on Schedule A it wouldn't come directly off their federal tax, it would reduce their AGI. But for the bonus point: they'd need to make estimated payments of at least 100% of their prior years taxes for a "safe harbor" from penalties. That goe...
by MP123
Mon Apr 03, 2017 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: What's the flaw in this strategy:
Replies: 27
Views: 2292

Re: What's the flaw in this strategy:

It seems to me that you're talking about two different things both of which are useful but not related: 1) You can recognize a capital loss and deduct it up to $3,000. and/or 2) You can contribute to a Roth. The dollars don't really care where they "came from". They're all the same anyway,...
by MP123
Mon Apr 03, 2017 2:02 pm
Forum: Investing - Help with Personal Investments
Topic: What's the flaw in this strategy:
Replies: 27
Views: 2292

Re: What's the flaw in this strategy:

you gain the deduction right away for the loss and actually don't pay on the upswing ever , because the asset is now shielded. Generally you will pay taxes when it comes back out of the tax sheltered account (IRA, 401k). And it will be taxed at your regular income tax rate not at the preferred rate...
by MP123
Tue Mar 28, 2017 6:41 pm
Forum: Investing - Help with Personal Investments
Topic: Should I open a Taxable Account?
Replies: 7
Views: 1082

Re: Should I open a Taxable Account?

Sounds like a good idea to me, you've got the other bases covered. :sharebeer
by MP123
Tue Mar 28, 2017 2:01 pm
Forum: Personal Consumer Issues
Topic: Buying a home in a seller's market - how to decide how much to pay
Replies: 8
Views: 964

Re: Buying a home in a seller's market - how to decide how much to pay

I wouldn't overthink the assessed value of a property. It's only very loosely linked to the real market value and mostly just gives you an idea of how much your property tax bill will be. Many municipalities have limits on how much they can raise assessments each year for example. Others tend to kee...
by MP123
Tue Mar 28, 2017 11:35 am
Forum: Investing - Help with Personal Investments
Topic: Is it time to stop investing in the 529?
Replies: 12
Views: 2332

Re: Is it time to stop investing in the 529?

$15-21k for Private College tuition? Maybe in 1983. Are you sure that isn't per semester? Seriously, speaking as the parent of a college student you could very easily double that. And be aware that most all of the "financial aid" being offered are student loans. Sounds like you're doing a ...
by MP123
Mon Mar 27, 2017 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: TLH Noob Question
Replies: 5
Views: 421

Re: TLH Noob Question

Remember you can't write off the whole $25,000 unless you also have over $22,000 of gains this year. Your max deduction is $3,000 but you can carry forward the rest and use it against future gains.
by MP123
Mon Mar 27, 2017 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Sell our house in hot market?
Replies: 14
Views: 1669

Re: Sell our house in hot market?

RegDunlopCPA wrote:
Our current home needs too much work...

Let alone it needs a lot of maintenance/upgrades (built in 1967).



Even in a "hot market" those issues will likely affect your sale price.
by MP123
Sun Mar 26, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: S-Corp: Does Net Investment Income Tax Roughly Neutralize Employment Tax Saving?
Replies: 9
Views: 867

Re: S-Corp: Does Net Investment Income Tax Roughly Neutralize Employment Tax Saving?

so, if the S Corp is engaged in trade or business that is a non passive activity, then the entire amount in 4a is entered (as a negative number) in 4b, correct?! if so, I will retract my OP... Yes, that's correct. At least that's the way it worked out on my 8960 with the profits from our S corp wit...
by MP123
Sun Mar 26, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: S-Corp: Does Net Investment Income Tax Roughly Neutralize Employment Tax Saving?
Replies: 9
Views: 867

Re: S-Corp: Does Net Investment Income Tax Roughly Neutralize Employment Tax Saving?

You pay NIIT on 4c not 4a. 4b is where the magic happens. so, if the S Corp is engaged in trade or business that is a non passive activity, then the entire amount in 4a is entered (as a negative number) in 4b, correct?! if so, I will retract my OP... Yes, that's correct. At least that's the way it ...
by MP123
Fri Mar 24, 2017 4:22 pm
Forum: Personal Consumer Issues
Topic: Car Dealer Forgot to Charge Sales Tax - Ouch
Replies: 39
Views: 4705

Re: Car Dealer Forgot to Charge Sales Tax - Ouch

Your state may be different, but I know in my state if sales tax is due on the transaction, either the merchant collects the tax from the customer or the customer pays the tax directly to the state. It's much like paying income tax. You could have your employer withhold the income tax from your pay...
by MP123
Thu Mar 23, 2017 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly Tax Payments Planning to Avoid Refund and Penalties
Replies: 22
Views: 1584

Re: Quarterly Tax Payments Planning to Avoid Refund and Penalties

The due dates above are correct. Note that they are staggered a bit with respect to the "normal" quarters.

I usually reevaluate over the year by changing the numbers in TurboTax to see what I'd owe and fine tune the last payment. But at least 110% of last year will avoid a penalty.
by MP123
Thu Mar 23, 2017 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Quarterly Tax Payments Planning to Avoid Refund and Penalties
Replies: 22
Views: 1584

Re: Quarterly Tax Payments Planning to Avoid Refund and Penalties

whaleknives wrote:The IRS only requires 100% of last year's tax for the safe harbor. The "quarterly" payments are equal:



That's if your AGI is under $150,000. It's 110% if over that amount.
by MP123
Wed Mar 22, 2017 1:44 pm
Forum: Personal Consumer Issues
Topic: Do I need title insurance?
Replies: 37
Views: 2981

Re: Do I need title insurance?

Not sure what your local custom is but in many places the seller often pays for the policy. It's certainly negotiable.
by MP123
Wed Mar 22, 2017 1:25 pm
Forum: Personal Consumer Issues
Topic: Do I need title insurance?
Replies: 37
Views: 2981

Re: Do I need title insurance?

You're being too cheap :happy

Get title insurance. What if the builder didn't pay all his tradesmen? Or the prior owners ex-wife really owns it? Or.... You get the point.
by MP123
Sun Mar 19, 2017 5:34 pm
Forum: Investing - Help with Personal Investments
Topic: Thinking About Tax Loss Harvesting - Advice?
Replies: 5
Views: 433

Re: Thinking About Tax Loss Harvesting - Advice?

Also, consider that TLH is really just deferring taxes since you'll end up with a lower cost basis on whatever asset class you harvest. If you sell the international fund, realize the $15k loss, and buy another international fund tracking the same index you'll be buying it roughly $15k cheaper than ...
by MP123
Sun Mar 19, 2017 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard bank account authorization for joint brokerage account
Replies: 9
Views: 681

Re: Vanguard bank account authorization for joint brokerage account

As I recall my wife had to login with her account and then go to My Accounts/Messages and there was a link to approve my bank account as the transfer account for our joint account . It's been a little while but you can do it for sure. May have to call them. We didn't have to do micro deposits again ...
by MP123
Fri Mar 17, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Increase W4 withholdings or make estimated tax payments
Replies: 18
Views: 1467

Re: Increase W4 withholdings or make estimated tax payments

Another question: am I correct that as long as my 2017 withholdings equal at least 100% of my prior year tax, I won't be subject to underpayment penalties? For example: 2016 total tax: $10,000 2017 total tax: $20,000 In the situation above, if my 2017 withholdings total $10,001, I wouldn't be subje...
by MP123
Thu Mar 16, 2017 4:01 pm
Forum: Investing - Help with Personal Investments
Topic: Taxes in Death
Replies: 14
Views: 1523

Re: Taxes in Death

You shouldn't have to pay taxes on a small or medium-sized inheritance. Only six states have such taxes and a base amount is excluded. As best I understand, in those few states with an "inheritance" tax, the imposition of such a tax may depend on the closeness (or specific) relationship o...
by MP123
Thu Mar 16, 2017 3:24 pm
Forum: Investing - Help with Personal Investments
Topic: Taxes in Death
Replies: 14
Views: 1523

Re: Taxes in Death

It really depends on what form your inheritance takes: cash, stock, real estate, IRA account, and so on. In general it wouldn't be directly taxable to you until you sold it. Then you'd owe capital gains tax on the stepped up basis. So you could manage that to keep your income where you want it to so...