Search found 50 matches

by creditdefaultswaps
Wed Dec 13, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes on Crypto Currency Short-Term Profit
Replies: 4
Views: 538

Taxes on Crypto Currency Short-Term Profit

I invested $1K in Ethereum a week ago and sold it last night at $1400 using Coinbase. Two questions:

1. Am I obligated to report the gain? (I'm presuming so)
2. If so, what should I set aside for taxes on this gain?
by creditdefaultswaps
Fri Dec 08, 2017 9:23 pm
Forum: Personal Consumer Issues
Topic: I am buying a car: Most/Least Reliable Makes?
Replies: 64
Views: 3615

Re: I am buying a car: Most/Least Reliable Makes?

You can get a fully-loaded Mazda, Kia or Toyota for <= $30K - even a hybrid in some cases. I've had great experiences with all, especially in the > 150K mileage range.
by creditdefaultswaps
Fri Dec 08, 2017 1:52 pm
Forum: Personal Consumer Issues
Topic: Gift Giving Strategy for Married Couples
Replies: 20
Views: 1582

Re: Gift Giving Strategy for Married Couples

Thanks everyone for your replies. It seems everyone does it a little different and that's A-OK with me. I've got another good 35+ Christmases to go (If I'm lucky) to try and each and every one of these out. :sharebeer
by creditdefaultswaps
Thu Dec 07, 2017 8:06 pm
Forum: Personal Consumer Issues
Topic: Gift Giving Strategy for Married Couples
Replies: 20
Views: 1582

Gift Giving Strategy for Married Couples

Every year around this time, my spouse will start pestering for me gift ideas for the holidays and I usually say the same line about how I don't desire any material things much these days and the things that I really want, I want to earn for myself. This is usually returned with eyesrolling because ...
by creditdefaultswaps
Mon Sep 11, 2017 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 2209

Re: Question Re: Max 401K Contribution

Well, if you are self-employed which you haven't clarified, your CPA is not correct I answered that in my first post. I have W2 as primary income in addition to 1099 income. Once again what avalpert and I have told you several times is the correct answer. Wait, can you repeat it one more time? /s I...
by creditdefaultswaps
Mon Sep 11, 2017 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 2209

Re: Question Re: Max 401K Contribution

I contacted my CPA and here's what she had to say: You cannot contribute any additional employee 401k contribution, since you already reach the max. Employer portion, I guess no one would know. If you don't have expense related to your consulting 1099, you can contribute 15k, 25% of net consulting i...
by creditdefaultswaps
Sat Sep 09, 2017 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 2209

Re: Question Re: Max 401K Contribution

Per your advice, I will hold off making any more contributions and work with my CPA to determine if I need to make additional contributions.
by creditdefaultswaps
Fri Sep 08, 2017 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 2209

Re: Question Re: Max 401K Contribution

FYI, Fidelity has adjusted my employee contributions so that they are denoted as employer contributions. Of my $60K in gross 1090 income, I will have less than $10K in expenses. That would make my maximum employer contribution to the Solo 401(k) ($60k-$10k) * 25% = $12.5K. I've contributed a little ...
by creditdefaultswaps
Fri Sep 08, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 2209

Re: Question Re: Max 401K Contribution

So if I understand correctly, I can only contribute $18K as an employee across all plans, but I may contribute up to $54K as an employer? I'm using Fidelity as the custodian for my Solo 401(k). Can and should I have them adjust my contributions this year to be employer contributions? This is so con...
by creditdefaultswaps
Fri Sep 08, 2017 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 2209

Re: Question Re: Max 401K Contribution

So if I understand correctly, I can only contribute $18K as an employee across all plans, but I may contribute up to $54K as an employer?

I'm using Fidelity as the custodian for my Solo 401(k). Can and should I have them adjust my contributions this year to be employer contributions?
by creditdefaultswaps
Fri Sep 08, 2017 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Question Re: Max 401K Contribution
Replies: 28
Views: 2209

Question Re: Max 401K Contribution

This year, I will max my W2 income 401K plan with $18K. I also have a contracting gig and have been making contributions to a Solo 401(k) as employee contributions. Should I continue to contribute to the Solo 401(k) plan using employee contributions or should I be making these contributions as the e...
by creditdefaultswaps
Sun Aug 13, 2017 9:42 pm
Forum: Investing - Help with Personal Investments
Topic: Should I sell my rental property?
Replies: 15
Views: 2167

Re: Should I sell my rental property?

@petulant I'll answer what I can for now: Depreciation numbers on house along with other info for tax consequences We bought it in 2012 for $212K. I'd have to check with my accountant for exact numbers. AGI for tax brackets, RE loss rules Not sure about RE loss rules, but our AGI is ~$200K. Prevaili...
by creditdefaultswaps
Thu Aug 10, 2017 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: Should I sell my rental property?
Replies: 15
Views: 2167

Re: Should I sell my rental property?

I need to make a correction, as I included debt service in my cashflow. Here's a more accurate depiction: Purchase Price: $212K Estimated Value Today: $400-450K Initial Cash Outlay (Down Payment): $25K Gross Income: $2100/month Vacancy Factor Over Last 5 Years: 0% Property Management: 8% of rent - $...
by creditdefaultswaps
Wed Aug 09, 2017 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: Should I sell my rental property?
Replies: 15
Views: 2167

Re: Should I sell my rental property?

Oh, there's no way I'd buy for cashflow in SoCal. I'm not opposed to multi-families in the midwest, but the question is: where? I've had several people try and steer me to the Cleveland, OH area but for many reasons, that seems excessively risky. Any particular cities you recommend exploring?
by creditdefaultswaps
Wed Aug 09, 2017 1:03 am
Forum: Investing - Help with Personal Investments
Topic: Should I sell my rental property?
Replies: 15
Views: 2167

Should I sell my rental property?

We own a rental property in a suburb of Boston (out-of-state). It's worth about $400-450K and we owe about $180K. We currently net cashflow approximately $1900 /month, fully managed. We're considering selling and 1031 exchanging a property in our current city in SoCal or rolling the funds into a lar...
by creditdefaultswaps
Mon Jul 24, 2017 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Where to get mortgage if buying house out of state?
Replies: 2
Views: 283

Re: Where to get mortgage if buying house out of state?

You need to find a lender licensed to lend in the state where you are making the purchase. If you have someone in your local state you like, try calling them and asking them if they lend in the target state.
by creditdefaultswaps
Sun Jul 23, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Investing Education and Mansplaining
Replies: 128
Views: 9341

Re: Investing Education and Mansplaining

We could argue about whether this is right or wrong, why it's the case, or how widespread it is, but it would be a waste of time. When you argue with reality, you lose, but only 100% of the time. Better to accept it and deal with it than argue against it. When is acceptable to make judgements of fo...
by creditdefaultswaps
Sun Jul 09, 2017 10:28 pm
Forum: Investing - Help with Personal Investments
Topic: Should I invest in this business?
Replies: 19
Views: 1572

Should I invest in this business?

I have an opportunity to invest in a Hooka Lounge near a major university. The offer is 49% ownership with a 50/50 profit split for $50K. I've never met the owner but the nature of my consulting permits me access to many investment and business opportunities. Should I even consider this opportunity?...
by creditdefaultswaps
Sun Jun 25, 2017 12:04 am
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for 1099 Income
Replies: 18
Views: 1660

Re: Tax Strategy for 1099 Income

I wanted to post a quick update since my Solo 401(k) is now open with Fidelity. Thank you all, especially @avalpert, for your guidance thus far. Here's how I'm planning to save the 60K I'm forecasted to earn in 1099 income this year: * 20% towards Solo(401k) in a Bogleheads Three-Fund portfolio cons...
by creditdefaultswaps
Sun Jun 18, 2017 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for 1099 Income
Replies: 18
Views: 1660

Re: Tax Strategy for 1099 Income

With the Solo 401k, you could roll your existing Traditional IRA into it and then be able to make after-tax IRA contributions that you convert to Roth - in essence making Roth contributions every year. With a SEP-IRA you won't be able to do that without creating a significant tax liability. I'm alm...
by creditdefaultswaps
Sun Jun 18, 2017 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for 1099 Income
Replies: 18
Views: 1660

Re: Tax Strategy for 1099 Income

Do you do backdoor Roth IRA contributions or would you like to? I have no idea. That's not a subject I'm all that familiar with. I currently have about 100K in a Traditional IRA if that helps. I believe I chose not to open an Roth because I think I make too much money. Your spouse can set up her ow...
by creditdefaultswaps
Sun Jun 18, 2017 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for 1099 Income
Replies: 18
Views: 1660

Re: Tax Strategy for 1099 Income

I just spoke with Fidelity and they proposed I look at a SEP IRA vs Solo 401K. If I'm only planning to earn a maximum of $75K / yr in 1099 income, is there any effective advantage of the 401K over the SEP IRA? Also, can my spouse (who is purely 1099) also contribute to either of these?
by creditdefaultswaps
Sun Jun 18, 2017 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for 1099 Income
Replies: 18
Views: 1660

Re: Tax Strategy for 1099 Income

Yes, while you can only contribute $18k as an employee across both plans, you can contribute as an employer to your Solo 401k plan, 20% of adjusted net income up to $54k. My W2's 401K does matching. Does the 18K include the matched funds or only the funds I personally contribute, even if it means w...
by creditdefaultswaps
Sun Jun 18, 2017 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for 1099 Income
Replies: 18
Views: 1660

Re: Tax Strategy for 1099 Income

You should set up a Solo 401k - that will let you put away ~20% pre-tax. Be diligent about tracking genuine expenses/deductions that you might miss (such as tracking miles if you have to drive to meet the client and keeping an appropriate log). Other than that, expect to pay your marginal income ta...
by creditdefaultswaps
Sat Jun 17, 2017 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for 1099 Income
Replies: 18
Views: 1660

Tax Strategy for 1099 Income

I have a W2 gig where I make around $180K/yr and I recently landed a consulting gig that is netting me an additional $7500 per month in 1099 income. Because of the nature of my consulting, my expenses are next to nothing. How much should I be prepared to spend in taxes on the $7500/month (it's safe ...
by creditdefaultswaps
Mon May 29, 2017 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: What do you guys do on the side?
Replies: 165
Views: 25572

Re: Side gigs

My W2 income is around $180K/yr and I have side consulting gig that pays around $8K/month.
by creditdefaultswaps
Thu Mar 09, 2017 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Price Transparency in Healthcare
Replies: 3
Views: 448

Re: Price Transparency in Healthcare

Yup, this totally violates the rules per: Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments. My apologies. I'll understand if a mod wants to kill the thread. For what it is worth, I should clarify that I'm not looking to d...
by creditdefaultswaps
Thu Mar 09, 2017 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Price Transparency in Healthcare
Replies: 3
Views: 448

Price Transparency in Healthcare

Does anyone know if there is any legislation proposed in the new healthcare bill that promotes or sets up some rules around making healthcare costs transparent upfront to patients? This seems like a crucial component to creating a competitive healthcare marketplace and driving prices back down, but ...
by creditdefaultswaps
Mon Mar 06, 2017 8:06 pm
Forum: Investing - Help with Personal Investments
Topic: Feeling a little burnt out - look at my financial health and give me the bad news
Replies: 13
Views: 2420

Re: Feeling a little burnt out - look at my financial health and give me the bad news

I've been pushing it hard from 18 to now my mid 30's in tech and have now worked my way up the sr / architect / exec level. I've also had the experience of quitting a great corporate gig to run my own consulting biz for a while. After a really grueling experience at a previous startup, I realized th...
by creditdefaultswaps
Tue Feb 28, 2017 9:33 pm
Forum: Investing - Help with Personal Investments
Topic: Wealthfront
Replies: 5
Views: 1281

Re: Wealthfront

I have far more than you in WF and have for 2+ years. I've noticed that they are more aggressive at TLH than Betterment. I've never had a fee increase, unlike Betterment. My return is line with the market. And unlike Betterment, Wealthfront does allow you to transfer assets in-kind to other custodia...
by creditdefaultswaps
Sun Feb 26, 2017 12:17 pm
Forum: Investing - Theory, News & General
Topic: AP: Americans buy existing homes at fastest pace in a decade
Replies: 45
Views: 4748

Re: AP: Americans buy existing homes at fastest pace in a decade

As an investor with 14 properties, low interest rates have greatly increased my returns. The spread between rents and mortgage interest payments has grown dramatically since 2008. What markets are you invested in? Because I can understand the spreads being greater for an investment purchased back i...
by creditdefaultswaps
Fri Feb 24, 2017 10:52 pm
Forum: Investing - Theory, News & General
Topic: AP: Americans buy existing homes at fastest pace in a decade
Replies: 45
Views: 4748

Re: AP: Americans buy existing homes at fastest pace in a decade

Just curious was there a time when the vast majority of experts or novices alike predicted the fall of housing or stock markets with any sort of accuracy? I don't think so. So why would it be surprising that "they" would miss predicting the fall again. Good luck. Apparently, the guy over ...
by creditdefaultswaps
Wed Feb 22, 2017 12:07 pm
Forum: Investing - Theory, News & General
Topic: AP: Americans buy existing homes at fastest pace in a decade
Replies: 45
Views: 4748

AP: Americans buy existing homes at fastest pace in a decade

m Americans shrugged off rising mortgage rates and bought existing homes in January at the fastest pace since 2007. That has set off bidding wars that have pushed up prices as the supply of available homes has dwindled to record lows. The supply crunch will likely get worse during the upcoming sprin...
by creditdefaultswaps
Mon Feb 20, 2017 5:14 pm
Forum: Local Chapters and Bogleheads Community
Topic: Your USER NAME...what does it mean?
Replies: 369
Views: 33918

Re: Your USER NAME...what does it mean?

My username was explained quite well in The Big Short.
by creditdefaultswaps
Mon Feb 13, 2017 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: Any ideas of for a 2nd job / career?
Replies: 15
Views: 2349

Re: Any ideas of for a 2nd job / career?

Darn it, I am of no use to you! But that's great that your current job is so flexible. Maybe you can put the real estate license to work, if that's something that interests you. Sure you are! I'd love to put the license to work, but it'd really only be helpful if I were going to be a salesperson or...
by creditdefaultswaps
Mon Feb 13, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Any ideas of for a 2nd job / career?
Replies: 15
Views: 2349

Re: Any ideas of for a 2nd job / career?

I'm considering taking advantage of my situation by looking for a 2nd work-from-home gig that I can use to generate additional income. My goal is to earn an additional $2-5K/month. I've done this prior as a consultant, but it was grueling. I'd be willing to take less if it were more structured and ...
by creditdefaultswaps
Mon Feb 13, 2017 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Any ideas of for a 2nd job / career?
Replies: 15
Views: 2349

Re: Any ideas of for a 2nd job / career?

The headwind you'll face is all that extra income will be taxed at the margin. A second job earning $2-5K/month (net? gross?) would be very inefficient. Have you considered land lording/rentals? Not for everyone, but it's (1) tax efficient (offset income by mortgage interests and depreciation) and ...
by creditdefaultswaps
Sun Feb 12, 2017 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Any ideas of for a 2nd job / career?
Replies: 15
Views: 2349

Re: Any ideas of for a 2nd job / career?

I'm in the fortuitous position of having software engineering career that allows me to work from home and make upwards of $180K/yr. That said, I live in a high tax state and after child support, my take home pay easily resembles a $70K/yr salary. This is making it difficult to reach my financial go...
by creditdefaultswaps
Sun Feb 12, 2017 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Any ideas of for a 2nd job / career?
Replies: 15
Views: 2349

Re: Any ideas of for a 2nd job / career?

livesoft wrote:Many people in your situation would move to a low-tax state.


We're here after two other previous cross-country moves and we love it. But moving comes up often, especially given we'll likely never be able to afford a home here. Any suggestions as to state/city?
by creditdefaultswaps
Sun Feb 12, 2017 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Any ideas of for a 2nd job / career?
Replies: 15
Views: 2349

Any ideas of for a 2nd job / career?

I'm in the fortuitous position of having software engineering career that allows me to work from home and make upwards of $180K/yr. That said, I live in a high tax state and after child support, my take home pay easily resembles a $70K/yr salary. This is making it difficult to reach my financial goa...
by creditdefaultswaps
Fri Jan 06, 2017 12:36 am
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Re: Moving Away from Robotraders - Good idea?

Just got to get super aggressive in the next five years right? Yea, but as I get older, I also think that I need to balance out the extreme saving and overall cheapness with investing in items with long-term durability and giving myself the occasional reward for my hard work. Live is too short, I c...
by creditdefaultswaps
Thu Jan 05, 2017 11:28 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Re: Moving Away from Robotraders - Good idea?

I'm in virtually the same financial and life circumstances as you from what I can tell. Early 30's, high risk/return reasonable financial position. I have: - Betterment - tIRA (zero balance) -> Roth IRA + Taxable (with weekly additions) - Schwab - 401k - Robinhood - Taxable (single stocks to play w...
by creditdefaultswaps
Thu Jan 05, 2017 8:13 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Re: Moving Away from Robotraders - Good idea?

For those curious, here are the stock mixes for Betterment IRA ($91K): http://i.imgur.com/mkMvIbol.png Wealthfront Taxable ($22K): http://i.imgur.com/7MXiKN0.png Acorns Taxable ($6K): http://i.imgur.com/IkEo8Kml.png My risk tolerance on all is HIGH due to me being in my early 30s and owning an inves...
by creditdefaultswaps
Thu Jan 05, 2017 7:56 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Re: Moving Away from Robotraders - Good idea?

They look at the taxable gain from the sale and estimate the taxes using these assumptions:
Estimated tax for this transaction only, based on estimated gains and losses and assuming the highest tax rates of 39.6% federal, 13.3% state, 3.8% medicare surtax and deductibility of state taxes.
by creditdefaultswaps
Thu Jan 05, 2017 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Re: Moving Away from Robotraders - Good idea?

Well, passing up TLH is in my opinion a mistake. I don't personally find it to be difficult or time-consuming, but it isn't free either effort or time.


If it's that easy and takes little time, I have no issues with doing it. That said, how do I do my own TLH?
by creditdefaultswaps
Thu Jan 05, 2017 12:55 am
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Re: Moving Away from Robotraders - Good idea?

If you think you can do a reasonable job at TLH yourself, then you don't need them


Unless it's easy and takes very little of my time, I have no interest in managing TLH myself.
by creditdefaultswaps
Tue Jan 03, 2017 1:47 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Re: Moving Away from Robotraders - Good idea?

As I mentioned previously, it's disadvantageous to manage these taxable accounts across multiple accounts and thus, why I'm looking to simplify and consolidate.
by creditdefaultswaps
Tue Jan 03, 2017 1:22 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Re: Moving Away from Robotraders - Good idea?

It's a good idea for the tIRA. For the taxable accounts, do you know what the unrealized capital gains are? There's no reason you can't do tax loss harvesting at Vanguard. Do you have an employer-based retirement plan? According to Betterment, I'd have a gain of $575 with a resulting tax of $279. H...
by creditdefaultswaps
Mon Jan 02, 2017 8:00 pm
Forum: Investing - Help with Personal Investments
Topic: Moving Away from Robotraders - Good idea?
Replies: 23
Views: 2451

Moving Away from Robotraders - Good idea?

Hi Folks. I'm managing about 120K in Betterment, $90K in Traditional IRA and the remainder in a taxable account. I also have $25K in Wealthfront. I'm thinking it might be a good idea to move everything to a 3 or 4 ETF lazy portfolio at Vanguard. Is this a good idea? Is there anything I should be awa...