Search found 3713 matches

by Spirit Rider
Tue Aug 23, 2016 11:39 am
Forum: Investing - Help with Personal Investments
Topic: No 401k, what are my options for retirement savings?
Replies: 6
Views: 590

Re: No 401k, what are my options for retirement savings?

Use an HSA qualified HDHP for health insurance and make the maximum HSA contribution.

Invest in a total market index fund in taxable.
by Spirit Rider
Mon Aug 22, 2016 8:15 pm
Forum: Investing - Help with Personal Investments
Topic: Second Job: Supercharging a SEP-IRA vs Solo 401k? Establish LLC needed?
Replies: 11
Views: 775

Re: Second Job: Supercharging a SEP-IRA vs Solo 401k? Establish LLC needed?

TFB, line 22 asks for the amount of salary deferral from employer to a 403b but doesn't ask for 401k anywhere. Is that right? Line 22 is for 403b employer contributions, not employee salary deferrals. There is no need to ask for the 401k employer contribution, because it does not impact the Solo 40...
by Spirit Rider
Mon Aug 22, 2016 4:19 pm
Forum: Personal Consumer Issues
Topic: Who is responsible for bank errors
Replies: 16
Views: 1217

Re: Who is responsible for bank errors

With "Check 21", for the last ten years almost all cashed checks are processed automatically. So the most likely cause is an OCR failure. Check OCR is very accurate, but with the high volume of checks failures do occur. Even more unlikely is the check was not read with a high enough confid...
by Spirit Rider
Mon Aug 22, 2016 11:59 am
Forum: Investing - Help with Personal Investments
Topic: Timing for RMD withdrawals?
Replies: 30
Views: 2255

Re: Timing for RMD withdrawals?

In addition, the total value of all the shares remain the same, ie if you don't sell any and you pay the taxes using money from your taxable accounts. Maybe I am not following you, but once you take the RMD the money becomes cash which is fungible with any other cash you have so there is no choice ...
by Spirit Rider
Mon Aug 22, 2016 11:13 am
Forum: Investing - Help with Personal Investments
Topic: inexpensive safe harbor 401k?
Replies: 20
Views: 1261

Re: inexpensive safe harbor 401k?

Not to confuse the issue, but there is an option for professional small business owners (lawayers, doctors, dentists, etc...). A 401k with limited safe harbor general test (ADP only) using the "New Comparability Method" of profit sharing could allow you to maximize your contributions witho...
by Spirit Rider
Sat Aug 20, 2016 9:08 pm
Forum: Investing - Help with Personal Investments
Topic: Timing for RMD withdrawals?
Replies: 30
Views: 2255

Re: Timing for RMD withdrawals?

In addition, the total value of all the shares remain the same, ie if you don't sell any and you pay the taxes using money from your taxable accounts. Maybe I am not following you, but once you take the RMD the money becomes cash which is fungible with any other cash you have so there is no choice ...
by Spirit Rider
Sat Aug 20, 2016 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: 401(k) w/Match + Small Biz SEP IRA = ?
Replies: 5
Views: 285

Re: 401(k) w/Match + Small Biz SEP IRA = ?

As I recall an SEP also has the provision for making contribution as the employee, but this counts toward the limit for 401k. So if you are maxing your 401k, you can't make any employee contributions. Employee contributions are not allowed in a SEP IRA Plan. They are allowed in a SAR SEP IRA. New S...
by Spirit Rider
Sat Aug 20, 2016 12:42 pm
Forum: Personal Consumer Issues
Topic: What is your system for dealing with coins?
Replies: 88
Views: 4435

Re: What is your system for dealing with coins?

I used to do the "empty pockets every day into a big tin." That just got to be a hassle and they started charging for coin counting. Now, I generally only use cash if the amount < $10. The little change I get goes into a recess on the automobile door. It gets used on the occasional times I...
by Spirit Rider
Fri Aug 19, 2016 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement contribution limit [401a / 403b / 457b combined]
Replies: 3
Views: 406

Re: Retirement contribution limit [401a / 403b / 457b combined]

My understanding is that a 401a is separate and distinct plan even with mandatory employee deferrals. Both the employee deferral limit and annual addition limit of a 457B are separate and distinct from other qualified plans A 403b employer deferral limit is only shared with a 401k and SIMPLE IRA. Th...
by Spirit Rider
Fri Aug 19, 2016 5:05 pm
Forum: Investing - Help with Personal Investments
Topic: Any experience with Vanguard 401k?
Replies: 4
Views: 384

Re: Any experience with Vanguard 401k?

Your company isn't willing to come up with $1400/yr to give their employees such a tremendous benefit? A forward looking company would pay the increase and make the following statement to their employees: "We continue our 21st century goal to provide the best possible benefits to the best emplo...
by Spirit Rider
Fri Aug 19, 2016 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Question on Gift Tax
Replies: 5
Views: 395

Re: Question on Gift Tax

You can give $5.45m tax free during life or at death. So if your total assets are likely below that just write a check. You can file a 709 if you want to be extra accurate. It isn't just about accuracy, IRS regulations require the filing of form 709 if you exceed the annual exclusions. In the case ...
by Spirit Rider
Fri Aug 19, 2016 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA basis tracking and rollover into individual 401k
Replies: 4
Views: 243

Re: tIRA basis tracking and rollover into individual 401k

Actually, you rollover the pre-tax first leaving only the basis. Then you can roll the basis to a Roth IRA. Call your i401k provider, they can help you with this.

Note: Vanguard i401k does not allow incoming IRA rollovers.
by Spirit Rider
Fri Aug 19, 2016 4:11 pm
Forum: Investing - Theory, News & General
Topic: 401k plan for a startup
Replies: 2
Views: 215

Re: 401k plan for a startup

With that number of employees why not check out Vanguard. They might not allow you to go directly, but their small business plan administered by Ascensus might be competitive.
by Spirit Rider
Fri Aug 19, 2016 3:58 pm
Forum: Personal Consumer Issues
Topic: Favorite Restaurant Stop on Road Trips
Replies: 103
Views: 5810

Re: Favorite Restaurant Stop on Road Trips

Not exactly on topic, but... I know they were never all that good and they are all probably gone, but I have fond childhood memories of Howard Johnson's. That is because roadtrip travel > 4 or 5 hours was generally the only time the seven of us would eat at restaurants. However, I think the only rea...
by Spirit Rider
Fri Aug 19, 2016 9:59 am
Forum: Investing - Help with Personal Investments
Topic: SIMPLE IRA (5304) Help... Trying to not use employer financial institution..
Replies: 21
Views: 700

Re: SIMPLE IRA (5304) Help... Trying to not use employer financial institution..

The no cost transfer requirement only applies to a 5305 SIMPLE IRA with a Designated Financial Institution (DFI). A 5304 SIMPLE IRA might be able to allow rollovers, but are not required to do so. I say might, because at least with a 401k, in-service rollovers of employee deferrals are not allowed b...
by Spirit Rider
Fri Aug 19, 2016 9:30 am
Forum: Investing - Help with Personal Investments
Topic: inexpensive safe harbor 401k?
Replies: 20
Views: 1261

Re: inexpensive safe harbor 401k?

1. The "eagerness" of the sharebuilder agent to serve as financial adviser seems a conflict of interest. Maybe because he can make more off of the backs of your employees than the safe harbor 401k plan. I would only use the 401k administrator for the plan and let the employees choose an ad...
by Spirit Rider
Thu Aug 18, 2016 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: How do you handle ATM access with checking accounts?
Replies: 21
Views: 1028

Re: How do you handle ATM access with checking accounts?

I use Fidelity's cash management account for ACH payments and online bill pay. Even though it has unlimited free ATM withdrawals, I generally keep the debit/ATM card sock-drawered. I use Ally for the liquid portion of my emergency fund. Even though it has limited free ATM withdrawals, I keep the deb...
by Spirit Rider
Thu Aug 18, 2016 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Rollover IRA asset protection?
Replies: 11
Views: 593

Re: Rollover IRA asset protection?

Thanks SpiritRider! Fascinating, but even more confusing. The difference between 403(b) and 401(k) comes up again, but I still don't get it. The part about 403(B) perhaps unprotected outside if bankruptcy was hard to follow. It sounds like it is still unresolved. Apparently, both 401(k) and 403(b) ...
by Spirit Rider
Thu Aug 18, 2016 7:34 pm
Forum: Investing - Help with Personal Investments
Topic: Can I rollover funds from DB to an Index Fund?
Replies: 3
Views: 267

Re: Can I rollover funds from DB to an Index Fund?

There is a difference between where you rollover your DB assets to and what investment(s) you place it in. You will want to rollover you DB to a rollover IRA. Once it is there you can place it in what ever investment(s) you choose at that IRA provider. Most Bogleheads would suggest you rollover the ...
by Spirit Rider
Thu Aug 18, 2016 7:24 pm
Forum: Personal Consumer Issues
Topic: credit score hit when closing cc accounts?
Replies: 11
Views: 619

Re: credit score hit when closing cc accounts?

I recently closed a credit card that made up 2/3rds of my "available credit". It's not really the percentage of available credit that you're closing. It's the revolving utilization. It's certainly possible to close out cards that account for a significant portion of your total limits with...
by Spirit Rider
Thu Aug 18, 2016 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Rollover IRA asset protection?
Replies: 11
Views: 593

Re: Rollover IRA asset protection?

The reason it is confusing is there are several different levels of asset protection; federal creditor, federal bankruptcy (two levels), state creditor, state bankruptcy. Here is my attempt at a summary. If you want a complete legal analysis, see: Protection of IRA & Qualified Retirement Plan As...
by Spirit Rider
Wed Aug 17, 2016 8:10 pm
Forum: Investing - Help with Personal Investments
Topic: Help on starting a solo 401k or SEP IRA
Replies: 1
Views: 160

Re: Help on starting a solo 401k or SEP IRA

1. These are taxable income regardless whether you receive a 1099 or not. One survey could probably claimed as one-off "other income". You should be able to make a very good case that three surveys constitutes a self-employed business with the intent to make a profit. Therefore, you should...
by Spirit Rider
Wed Aug 17, 2016 8:14 am
Forum: Investing - Help with Personal Investments
Topic: solo 401k with 401k at work? max contribution?
Replies: 17
Views: 1228

Re: solo 401k with 401k at work? max contribution?

Technically, you can,. because there are seperate $53K total limits for your work and solo 401k plans. Practically, it is a challenge, because no mainstream administrator (Fidelity, Vanguard, TD Ameriprise, etc...) allow after-tax contributions. You would need to have a custom plan provided by a Thi...
by Spirit Rider
Tue Aug 16, 2016 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for clarification on IRA Rollover One-Per-Year rule
Replies: 16
Views: 551

Re: Looking for clarification on IRA Rollover One-Per-Year rule

We will have to wait for Alan to clarify this.

I am 95℅ confident that I remember him saying that you can not pick and choose.
by Spirit Rider
Tue Aug 16, 2016 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for clarification on IRA Rollover One-Per-Year rule
Replies: 16
Views: 551

Re: Looking for clarification on IRA Rollover One-Per-Year rule

In my example, this was money that was already distributed from an IRA, and the IRA owner wishes to rollover as much as possible, legally. Not that the reason matters (and I'm not the subject here), but let's say the person made the distributions for short-term emergency needs (real estate closing,...
by Spirit Rider
Tue Aug 16, 2016 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Looking for clarification on IRA Rollover One-Per-Year rule
Replies: 16
Views: 551

Re: Looking for clarification on IRA Rollover One-Per-Year rule

No, only the first rollover would be allowed. The second two would be categorized as withdrawals not eligible for rollover. It is really one withdrawal followed by rollover(s) of the total amount. You could take one $5K withdrawal and rollover $2.5K to each of two destinations, etc... The sixty (60)...
by Spirit Rider
Mon Aug 15, 2016 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Another Basic Health Savings Account Question
Replies: 27
Views: 1873

Re: Another Basic Health Savings Account Question

Now she left a message saying the company is not going to be contributing the $20 (which it reads for age 47, they contribute $338 towards said Health Plan and my health plan cost is actually $208. So I assumed that is where she got the $20 from. And that Kaiser will have an account for me to login...
by Spirit Rider
Sun Aug 14, 2016 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: How many credit cards are too many?
Replies: 57
Views: 3560

Re: How many credit cards are too many?

Having so many credit cards that one can't keep track of credit card debt, even if paid off every month, seems financially dicey to me. First of all, people who have several cards do not use them all in a given period. I seldom use more than 4 or 5 in any given quarter. You haven't heard of the ter...
by Spirit Rider
Sun Aug 14, 2016 11:08 am
Forum: Investing - Theory, News & General
Topic: Bogle's Folly now worth $3,500,000,000,000
Replies: 12
Views: 2446

Re: Bogle's Folly now worth $3,500,000,000,000

GreatOdinsRaven wrote:
Spirit Rider wrote:Actually, as a mutual mutual find company, Vanguard is worth nothing. Rather it has $3.5T dollars under management.

~2.5T of those AUM are indexed, but ~1T of their AUM are actively managed.

I don't understand your point, both index funds and actively managed funds are mutual funds.
by Spirit Rider
Sun Aug 14, 2016 11:05 am
Forum: Investing - Theory, News & General
Topic: Fidelity ERISA lawsuit over 401k brokerage option
Replies: 15
Views: 1112

Re: Fidelity ERISA lawsuit over 401k brokerage option

Imo, the worst thing about the tax-deferred BrokerageLink option is that you're essentially an individual investor again who no longer has access to the low-ER share classes and high-minimum-investment funds that you enjoyed through the "company" plan. Is it really? I was able to invest i...
by Spirit Rider
Sat Aug 13, 2016 11:27 pm
Forum: Investing - Help with Personal Investments
Topic: Need some IRA advice.
Replies: 1
Views: 222

Re: Need some IRA advice.

The redemption period for the CDs is not really the issue. The only factor when doing a Roth conversion is the ratio of non-deductible contributions to the total balance. So it is the fact that you have already deductible contributions and earnings already in the IRA that would require pro-rata taxa...
by Spirit Rider
Sat Aug 13, 2016 4:34 pm
Forum: Personal Consumer Issues
Topic: Blue Cross Legacy Plan C Medigap
Replies: 19
Views: 847

Re: Blue Cross Legacy Plan C Medigap

Underwriting is not needed if you select another plan that has fewer benefits. A particular provider may choose to allow this with another plan with them. However, there is no federal guaranteed issue to voluntarily change plan type. I understood gender is not considered, so something else must be ...
by Spirit Rider
Sat Aug 13, 2016 1:37 pm
Forum: Investing - Theory, News & General
Topic: Bogle's Folly now worth $3,500,000,000,000
Replies: 12
Views: 2446

Re: Bogle's Folly now worth $3,500,000,000,000

Actually, as a mutual mutual find company, Vanguard is worth nothing. Rather it has $3.5T dollars under management.
by Spirit Rider
Sat Aug 13, 2016 1:08 pm
Forum: Investing - Theory, News & General
Topic: Fidelity ERISA lawsuit over 401k brokerage option
Replies: 15
Views: 1112

Re: Fidelity ERISA lawsuit over 401k brokerage option

I read the first link and the link to the lawsuit document. The first link writes about a bunch of things not typically found nor allowed in SDBAs and certainly not discussed in the lawsuit document, so it is practically a non sequitur . I agree, the author does not seem to have a clue about SDBAs ...
by Spirit Rider
Sat Aug 13, 2016 12:54 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on American Century SIMPLE IRA
Replies: 13
Views: 783

Re: Advice on American Century SIMPLE IRA

The frequency is first dependent on American Century, but they must at least allow monthly transfers. Ideally it would be best to transfer coincident with each pay period. However, IRS regulations do not require them to have "set and forget it" electronic transfers. Many expensive plans ma...
by Spirit Rider
Sat Aug 13, 2016 12:07 pm
Forum: Investing - Theory, News & General
Topic: Confession~ I timed the market today
Replies: 31
Views: 3333

Re: Confession~ I timed the market today

My understanding is that you can take an RMD in securities form. For example, stock can be moved from a tax-deferred account to a taxable one. A family member has done this. What advantage does this have? Besides appreciated employer stock in 401k plans under NUA rules. It seems as you can rebuy yo...
by Spirit Rider
Sat Aug 13, 2016 12:05 pm
Forum: Investing - Theory, News & General
Topic: Confession~ I timed the market today
Replies: 31
Views: 3333

Re: Confession~ I timed the market today

itstoomuch wrote:^Because an IRA used to be called a Individual retirement annuity.

This is not true. An Individual Retirement Account is defined in 408(a) and an Individual Retirement Annuity is defined in 408(b). These were both enacted as part of ERISA in 1974 and this has not changed since.
by Spirit Rider
Sat Aug 13, 2016 10:57 am
Forum: Personal Finance (Not Investing)
Topic: How many credit cards are too many?
Replies: 57
Views: 3560

Re: How many credit cards are too many?

For those maximizing rewards, etc, what do you mean? 1. Are you getting rewards from some places that only give you the rewards if you use their card? No, I don't spend enough at any of the places that have single source cards, but I do use various cards that give you cash back: ⋅ 6% on g...
by Spirit Rider
Sat Aug 13, 2016 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Can Noncompete Payments Be Used For Individual 401k?
Replies: 8
Views: 747

Re: Can Noncompete Payments Be Used For Individual 401k?

Thank you for your diligence.

Many applications of the tax code are by inference and it is always great if you can find
a specific cite whether by IRS publication, IRS guidance or in this case a court ruling.

The Boglehead community greatly benefits by the efforts of its members.
by Spirit Rider
Fri Aug 12, 2016 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: How many credit cards are too many?
Replies: 57
Views: 3560

Re: How many credit cards are too many?

Having to many credit cards may not negatively affect your credit score. Having too much unsecured credit relative to your income may impact your ability to get other credit such as a mortgage. You are probably nowhere near that level. Even in this case it will not prevent you from getting the other...
by Spirit Rider
Fri Aug 12, 2016 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Can Noncompete Payments Be Used For Individual 401k?
Replies: 8
Views: 747

Re: Can Noncompete Payments Be Used For Individual 401k?

Abstaining from the performance of services (for example, under a covenant not to compete) is treated as the performance of services for purposes of these rules . https://www.irs.gov/businesses/small-businesses-self-employed/what-is-taxable-and-nontaxable-income Sounds like you're in the clear to m...
by Spirit Rider
Fri Aug 12, 2016 9:03 am
Forum: Personal Finance (Not Investing)
Topic: 529 and S Corp Owner/Employee: Tax Savings/Advantage?
Replies: 5
Views: 276

Re: 529 and S Corp Owner/Employee: Tax Savings/Advantage?

Two 529/S.Corp related questions: 1. is it possible to make employe R contribution to an employeE's (son's) 529? Yes, but it will be taxable to the employee(you) (included in W-2 boxes 1,3,5). So it provides no benefit. 2. is it possible to use Pre-Tax employe E funds to make 529 contributions? No.
by Spirit Rider
Thu Aug 11, 2016 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle taxes on private company sale (after exercising options)
Replies: 2
Views: 174

Re: How to handle taxes on private company sale (after exercising options)

1) Was I supposed to report those taxes in 2010? If I didn't, am I screwed out of not claiming those taxes paid? I'm confused. You said in your first paragraph that you paid the taxes then. Which is reasonable given that the difference between strike price and FMV is considered compensation. 2) Is ...
by Spirit Rider
Thu Aug 11, 2016 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Can Noncompete Payments Be Used For Individual 401k?
Replies: 8
Views: 747

Re: Can Noncompete Payments Be Used For Individual 401k?

In order to contribute to an individual 401k or SEP IRA, you need "self-employed earned income" defined as: (2) Earned income (A) In general The term “earned income” means the net earnings from self-employment (as defined in section 1402(a)), but such net earnings shall be determined— (i) ...
by Spirit Rider
Wed Aug 10, 2016 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Put business name on "personal credit card" / corporate veil ?
Replies: 5
Views: 614

Re: Put business name on "personal credit card" / corporate veil ?

I did not have much trouble finding a business credit card with no annual fee. It is true that personal cards generally have better rewards programs. I don't know whether a credit card issuer would put a business name on a personal card. Even if they did, I doubt it would provide any liability prote...
by Spirit Rider
Wed Aug 10, 2016 10:15 pm
Forum: Investing - Help with Personal Investments
Topic: Advice on American Century SIMPLE IRA
Replies: 13
Views: 783

Re: Advice on American Century SIMPLE IRA

Couple of general questions: 1. Does the annual federal IRA contribution limit ($5500 in my case) include all contributions made by and individual to ANY IRA? Or, could I contribute maximums to both of these (Roth & Simple)? The representative for American Century said my limit for the SIMPLE I...
by Spirit Rider
Wed Aug 10, 2016 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Should an author form an S-corp
Replies: 12
Views: 937

Re: Should an author form an S-corp

I would say "do an S-Corp and pay a somewhere between 1/2 and 2/3 of the net business profit." Is SEP-IRA, Healthcare premium considered for the reasonable compensation range? For example a S-Corp made $150k net profit, pays 60k salary, 15k (25%) SEP, and $5k premium. Is $80k used for com...
by Spirit Rider
Tue Aug 09, 2016 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Social Security for non-resident?
Replies: 4
Views: 303

Re: Social Security for non-resident?

As always when dealing with government benefits, it depends. Normally only non-citizen residents can receive Social Security benefits. There are two exceptions: ⋅ You are residing in the U.S. when applying for benefits. Then after you start receiving benefits, you reside in the U.S. for o...

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