Search found 529 matches

by boglerocks
Sun Feb 12, 2017 4:59 am
Forum: Investing - Theory, News & General
Topic: Interactive Brokers: closing out non-base currencies
Replies: 2
Views: 358

Re: Interactive Brokers: closing out non-base currencies

I actually don't use TWS, I use Webtrader. I'm afraid of running a big java app like TWS. I should have specified that. I'm looking for a way to do this in Account Management I suppose. If I can't do that, should I just hold a big chunk of foreign currency in Positions forever in order to zero out a...
by boglerocks
Fri Feb 10, 2017 4:33 pm
Forum: Investing - Theory, News & General
Topic: Interactive Brokers: closing out non-base currencies
Replies: 2
Views: 358

Interactive Brokers: closing out non-base currencies

Does anyone know how to get rid of non-base currency positions in Interactive Brokers without borrowing? I somehow have a negative AUD balance in my account unless I buy AUD to zero it, but then those AUD holdings show up under my Positions. I don't have any AUD stock so I shouldn't have to have AUD...
by boglerocks
Fri Jan 13, 2017 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Anthem Blue Cross "primary care physician matching" for PPO
Replies: 0
Views: 181

Anthem Blue Cross "primary care physician matching" for PPO

Did anyone else receive the notice from Anthem about primary care physician matching for PPO plans? I'm suspicious. It sounds like they're moving PPO plans in an HMO direction even though they say they aren't.
by boglerocks
Thu Jan 05, 2017 4:51 pm
Forum: Investing - Help with Personal Investments
Topic: Moving an IRA to another brokerage
Replies: 16
Views: 1362

Re: Moving an IRA to another brokerage

I'm told this is because borrowing (foreign currencies for example) is not allowed in IRA accounts.
by boglerocks
Mon Jan 02, 2017 7:13 am
Forum: Investing - Theory, News & General
Topic: Case study Broker trade executions
Replies: 112
Views: 9070

Re: Case study Broker trade executions

FWIW I love Interactive Brokers. Just started rolling my IRAs over there too. First one went off without a hitch. Been with them about a year and execution quality still sometimes surprises me.
by boglerocks
Sat Dec 31, 2016 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Re: Convert to LLC in the middle of 2017?

oktax, thank you for that info. I saw on the news last night that the Trump administration will propose to change the top tax bracket for corporations to 20% from 35%. If that comes to pass, every small business owner like me would benefit from a SMLLC with C Corp election for the reasons I've outli...
by boglerocks
Fri Dec 30, 2016 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Re: Convert to LLC in the middle of 2017?

It does feel like overkill. Can I convert the sole prop to an LLC now and elect for C corp tax treatment at some point down the road?
by boglerocks
Fri Dec 30, 2016 5:54 am
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Re: Convert to LLC in the middle of 2017?

That's what I need to ask my CPA about. I want to understand how much control it is permissible to exert over when business income is realized personally from a C corp. It's likely that I don't go the C corp route but I want to make an informed decision.
by boglerocks
Thu Dec 29, 2016 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Re: Convert to LLC in the middle of 2017?

The point is to gain flexibility. If I don't want to be taxed at obscene corporate levels then I can realize all of the company's profits in the form of salary and bonuses and the corporation will not be taxed at all.
by boglerocks
Thu Dec 29, 2016 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Re: Convert to LLC in the middle of 2017?

Any profits paid to me in the form of salary or bonus are not taxed at the corporate level. Ideally I would be able to realize profits in that form when it is advantageous to do so and not realize those profits in other situations such as when I realize long-term capital gains. Profits left in the c...
by boglerocks
Thu Dec 29, 2016 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Re: Convert to LLC in the middle of 2017?

Dividends are taxed at 0% if you're in the 15% tax bracket.
by boglerocks
Wed Dec 28, 2016 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: IRA instead of disability insurance?
Replies: 13
Views: 1046

Re: IRA instead of disability insurance?

You guys have convinced me. I need it. Thank you. I will try to find something relatively inexpensive for long-term disability only.
by boglerocks
Wed Dec 28, 2016 7:43 pm
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Re: Convert to LLC in the middle of 2017?

Taxation as a C corp should allow me better control over when I personally realize business income so that I can minimize my tax liability. I'm not clear on how much exerted control is too much as far as the IRS is concerned. I don't want to push the envelope so I'm planning to ask my CPA.
by boglerocks
Wed Dec 28, 2016 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance applications (the agony of)
Replies: 3
Views: 449

Insurance applications (the agony of)

Insurance applications have become incredibly daunting for me and that's caused me to put off life insurance and disability insurance for at least a year now. I always feel like I need to make sure I'm filling them out perfectly or a future claim could be rejected due to my error. This causes me to ...
by boglerocks
Tue Dec 27, 2016 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Re: Convert to LLC in the middle of 2017?

Thanks Mule. I'm planning to talk to my CPA about whether this could be advantageous for me.
by boglerocks
Tue Dec 27, 2016 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Convert to LLC in the middle of 2017?
Replies: 19
Views: 1272

Convert to LLC in the middle of 2017?

If I convert my sole proprietorship to a single member LLC with a C corp election in the middle of 2017, how is it handled as far as income tax? Maybe I would just include the sole prop in my tax return as if it ceased operations when it was converted, and include the LLC as if it were a new busines...
by boglerocks
Fri Dec 23, 2016 10:41 am
Forum: Investing - Help with Personal Investments
Topic: Moving an IRA to another brokerage
Replies: 16
Views: 1362

Re: Moving an IRA to another brokerage

The funds transfer seems to have worked but I wasn't able to buy a Canadian ticker and I got this response from customer service: In an IRA account you cannot trade products denominated in currencies that you do not hold in this account. You can view the currency cash balance in the 'Account' Window...
by boglerocks
Thu Dec 22, 2016 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Big 2016 income drop
Replies: 28
Views: 4151

Re: Big 2016 income drop

Withdraw $20k from my TIRA penalty-free since we are shopping for a house. I understand that I will need to deposit the funds back into the IRA within 120 days if we don't buy a house within that time. I think I misunderstood this. I think the funds must be used for a house within 120 days to avoid...
by boglerocks
Wed Dec 21, 2016 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Big 2016 income drop
Replies: 28
Views: 4151

Re: Big 2016 income drop

My CPA says I can withdraw any amount of money from an IRA without penalty as long as I return it within 60 days and this can be done once per year. If I withdraw it in 2016 and return it in 2017 then it still isn't income, correct?
by boglerocks
Thu Dec 15, 2016 5:05 pm
Forum: Investing - Help with Personal Investments
Topic: Moving an IRA to another brokerage
Replies: 16
Views: 1362

Re: Moving an IRA to another brokerage

The new account is approved and Interactive Brokers says I can just submit an ACATS form online with them and the money will be pulled from Scottrade to them. It's under their "Position Transfer" menu item. Let's see how this goes....
by boglerocks
Thu Dec 15, 2016 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: IRA instead of disability insurance?
Replies: 13
Views: 1046

IRA instead of disability insurance?

Disability insurance is really expensive. I'm 35 and I have about $350k in my IRA accounts. Should I consider saving the money on disability insurance and relying on penalty-free IRA withdrawals if I become disabled?
by boglerocks
Wed Dec 14, 2016 3:19 pm
Forum: Investing - Help with Personal Investments
Topic: Moving an IRA to another brokerage
Replies: 16
Views: 1362

Re: Moving an IRA to another brokerage

Glad to hear I can pull the funds that way. Maybe I will be given an option like that once the new account is approved.
by boglerocks
Wed Dec 14, 2016 2:34 pm
Forum: Investing - Help with Personal Investments
Topic: Moving an IRA to another brokerage
Replies: 16
Views: 1362

Re: Moving an IRA to another brokerage

I opened a new Roth IRA account in Interactive Brokers but how do I do the trustee-to-trustee transfer of funds from my old Roth IRA? Can I have Interactive Brokers pull it or do I need to push it from my old brokerage?
by boglerocks
Tue Dec 13, 2016 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

Here's the problem:

http://hbex.coveredca.com/toolkit/renew ... elines.pdf

Children under 19 are automatically enrolled for Medi-cal if your income is less than 266% FPL. I had to overestimate my income up to $55k (family of 3) to avoid that.
by boglerocks
Tue Dec 13, 2016 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

I just signed up online to have a Certified Enroller call me. I found this which may explain what happened: "Medi-Cal covers prenatal care, labor and delivery, and postpartum care. Women who are pregnant should be sure to answer “yes" to the application question, “Are you pregnant?" F...
by boglerocks
Mon Dec 12, 2016 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

Just got off the phone with my broker. She ran into some trouble. :) She used $40k for my income as we decided and it gave me a policy but it put my wife and child on medi-cal. We couldn't figure out why this happened based on the published income table. She thinks it might have to do with my wife b...
by boglerocks
Mon Dec 12, 2016 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

Maybe you misunderstood what I was trying to say. Let me put it another way. Agents representing Covered California must be trained and certified in order to sell Covered California Health Insurance Plans in the individual and small business markets. Your agent will have to go through CoveredCa, ju...
by boglerocks
Mon Dec 12, 2016 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

EyeYield you're saying brokers can't sell an on-exchange ACA plan but donall you're saying they can. Can anyone confirm this one way or the other?
by boglerocks
Mon Dec 12, 2016 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Should I SEPP?
Replies: 18
Views: 1326

Re: Should I SEPP?

So you could convert, wait 5 years, and withdraw the whole Roth at 10% regardless of age?
by boglerocks
Mon Dec 12, 2016 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Should I SEPP?
Replies: 18
Views: 1326

Re: Should I SEPP?

Can anyone confirm? That wasn't my understanding of it.
by boglerocks
Mon Dec 12, 2016 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Should I SEPP?
Replies: 18
Views: 1326

Re: Should I SEPP?

You know, paying 10% on earnings that have grown tax-free is not bad....
by boglerocks
Sun Dec 11, 2016 4:11 pm
Forum: Investing - Help with Personal Investments
Topic: Move IRA to private shares?
Replies: 20
Views: 1615

Re: Move IRA to private shares?

Ouch, check out these Pensco reviews: https://www.yelp.com/biz/pensco-trust-company-san-francisco Does anyone know of another self-directed IRA custodian? I decided against opening a self-directed IRA for private equity shares for a few reasons. For one, private equity investment is almost always h...
by boglerocks
Sat Dec 10, 2016 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

OP, I'm wondering why you are going to a broker when you live in California and may quality for a subsidy? I've never used a broker - too expensive. Am I paying more for insurance through a broker than I would buying directly on coveredca.com? I like the service a broker provides but I was under th...
by boglerocks
Sat Dec 10, 2016 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

Also note that when the baby arrives your family will be 4 not 3. You need to go back (or call the Marketplace) into your application to include the baby. Your premium, deductible, etc will change. You will be eligible for cost sharing if you are a family of 4 at $50K, so stick with a silver plan (...
by boglerocks
Sat Dec 10, 2016 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

bogglizer wrote:My solution for several years of self employment was to ditch Obamacare and go commando. It may sound odd that not knowing my income was a major factor in my decision, but it was. Worked out really well, though.

No insurance and pay the fine?
by boglerocks
Sat Dec 10, 2016 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Investment control in a 529 plan
Replies: 18
Views: 703

Re: Investment control in a 529 plan

livesoft, you make a good point and I will probably jump on that once the market cools way off.
by boglerocks
Sat Dec 10, 2016 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Investment control in a 529 plan
Replies: 18
Views: 703

Re: Investment control in a 529 plan

Incendiary wrote:I think Virginia has a 529 option where you can choose your own stocks.

I dug around here but I don't see anything like that:

http://www.virginia529.com/programs/
by boglerocks
Sat Dec 10, 2016 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Investment control in a 529 plan
Replies: 18
Views: 703

Re: Investment control in a 529 plan

Spirit Rider, you're right, I'm a risk taker. I've taken some licks but I extract at least as much value in knowledge and experience from each of my failures as they cost me in dollars. It's a feedback loop.
by boglerocks
Sat Dec 10, 2016 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

Thanks J295. I'll be sure to get a Silver plan. I understand that Bronze plans are excluded and I'll assume that Gold plans are excluded too. My broker did ask if the estimated income is from self-employment and I told her it is. A 401k or Solo 401k would be too expensive because I've had a couple f...
by boglerocks
Sat Dec 10, 2016 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Investment control in a 529 plan
Replies: 18
Views: 703

Re: Investment control in a 529 plan

Thanks imabeliever. Yeah the stock picking thing is pretty well tolerated in the investment sections of this forum but the personal finance section can get a little dicey. :)

It sounds like I should skip the 529 and rely on my IRAs for college when the time comes.
by boglerocks
Sat Dec 10, 2016 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Investment control in a 529 plan
Replies: 18
Views: 703

Re: Investment control in a 529 plan

Can I contribute to a 529 and choose individual stocks to invest in within the 529?
by boglerocks
Sat Dec 10, 2016 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Investment control in a 529 plan
Replies: 18
Views: 703

Re: Investment control in a 529 plan

I'd like to have the same control that I have in a brokerage account. In a 529 plan it sounds like I would only be able to choose between mutual funds. Buying into the whole market or some large subset of it at this point could be perilous. Are we not allowed to make max IRA and 529 contributions in...
by boglerocks
Sat Dec 10, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Investment control in a 529 plan
Replies: 18
Views: 703

Investment control in a 529 plan

I've read a little about 529 plans and it sounds like I wouldn't have much control over what my money is invested into in such a plan. I wish it worked like an IRA brokerage account but it doesn't sound like it works that way at all. Do I have it right? If so I think I'll just pull from my IRA for c...
by boglerocks
Fri Dec 09, 2016 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

That would be amazing. My wife is having a baby next year which will be expensive. There is a chance that we'll liquidate a lot of capital gains to buy a house in 2017 which will send our income way up but I guess we'll just repay the subsidies if that happens. I guess we can't receive the tax credi...
by boglerocks
Fri Dec 09, 2016 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Switch biz to LLC for tax purposes?
Replies: 44
Views: 1705

Re: Switch biz to LLC for tax purposes?

Thanks avalpert. Doesn't sound like they're too keen on changing salary around. I'll talk to my CPA.
by boglerocks
Fri Dec 09, 2016 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance without knowing income
Replies: 31
Views: 2444

Re: Health Insurance without knowing income

Right now it's my wife, myself, and our toddler, and a new baby will be added next year. Does that mean we will be eligible for a 2017 subsidy if our income is below $50,400? No matter what make sure you purchase your insurance through the Market Place Exchange in order to have any chance or a credi...
by boglerocks
Fri Dec 09, 2016 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Switch biz to LLC for tax purposes?
Replies: 44
Views: 1705

Re: Switch biz to LLC for tax purposes?

The beauty of this arrangement is if the tax difference dips into the negative territory in any given year then you can pay all of the company's income to yourself in the form of salaries and bonuses and be taxed exactly the same as you would without a C corporation. Can't do that - reasonable sala...
by boglerocks
Fri Dec 09, 2016 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Switch biz to LLC for tax purposes?
Replies: 44
Views: 1705

Re: Switch biz to LLC for tax purposes?

The beauty of this arrangement is if the tax difference dips into the negative territory in any given year then you can pay all of the company's income to yourself in the form of salaries and bonuses and be taxed exactly the same as you would without a C corporation. Can't do that - reasonable sala...
by boglerocks
Fri Dec 09, 2016 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Switch biz to LLC for tax purposes?
Replies: 44
Views: 1705

Re: Switch biz to LLC for tax purposes?

You need to look into IRS' reasonable compensation rules. As a corporation you are going to have to be paying yourself an employee salary (which means the full w2 treatment including payroll taxes and withholding) that would be deemed 'reasonable' based on your actual role and duties in the company...
by boglerocks
Fri Dec 09, 2016 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Switch biz to LLC for tax purposes?
Replies: 44
Views: 1705

Re: Switch biz to LLC for tax purposes?

without C corporation: $10,322.5 (business income tax) + $11,205.00 (long-term capital gains tax) = $21,527.5 tax (18550⋅.1)+((75000−18550)⋅.15) = 10322.5 (18550⋅0)+((75300−18550)⋅0)+((150000−75300)⋅.15)) = 11205 Your understanding of tax brackets for personal income tax is not correct. Your calcul...

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