Search found 132 matches

by fabdog
Wed Mar 22, 2017 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Enrolled Agent or CPA for current issues
Replies: 20
Views: 1026

Re: Enrolled Agent or CPA for current issues

Either can represent you before the IRS, although not likely you'd need that. If you want the extra advice on your situation, either can do that for you as well. It may be difficult to find a CPA willing to help a new client at this time of year. You may be able to find a local EA in your area using...
by fabdog
Sun Mar 19, 2017 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Career Dilemma - Seeking Input
Replies: 7
Views: 965

Re: Career Dilemma - Seeking Input

if the current company treats you well, and the issue is only the personnel management, why not try option 2, where you stay in the same place (no relo) have the same schedule, and approx same money?

If that doesn't work out then you could chase after options 3 and 4

Mike
by fabdog
Mon Mar 13, 2017 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: Foreign Tax Paid Date in TurboTax
Replies: 4
Views: 215

Re: Foreign Tax Paid Date in TurboTax

for foreign tax withholding on mutual funds, I usually just use 12/31/xx
by fabdog
Sun Mar 12, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Tax deductions for advisor fees on 1041 trust return
Replies: 7
Views: 353

Re: Tax deductions for advisor fees on 1041 trust return

that is the standard with advisory/investment fees. You cannot deduct fees used to generate tax exempt income. You allocate on the income, not the account balances. So as an example, with your advisor fee of $1000, you have $750 of taxable income and $250 of tax free, $750 would be deductible. Mike
by fabdog
Sun Mar 05, 2017 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Question on compensation for making an IRA contribution
Replies: 1
Views: 156

Re: Question on compensation for making an IRA contribution

yes, you should be fine with the Box 1 minus Box 11 amount. The box 11 amount can't be used for IRA contributions

Mike
by fabdog
Sat Mar 04, 2017 8:05 pm
Forum: Personal Consumer Issues
Topic: Advice on relocation or staying put
Replies: 81
Views: 4547

Re: Advice on relocation or staying put

Acton/Boxborough and Hopkinton are along the 495 corridor. There are lots of other towns along that route (Hudson/South and Westboro, etc) all are a far way from Boston, especially if your wife has to commute into Boston... that would be a nightmare You could look into towns along/inside 95, much cl...
by fabdog
Sat Mar 04, 2017 4:09 pm
Forum: Personal Consumer Issues
Topic: Advice on relocation or staying put
Replies: 81
Views: 4547

Re: Advice on relocation or staying put

Having lived in MA (near Acton) as well as NM and AZ so got plenty of heat... The plus'es... it rarely gets hot in the summer... we would run the aircon a few days a year, mostly to take the humidity out of the house. The schools (providing you pick a good district) are excellent.. and there are a l...
by fabdog
Tue Jan 24, 2017 8:57 am
Forum: Personal Finance (Not Investing)
Topic: HSA qualification and quarterly income tax payment
Replies: 2
Views: 155

Re: HSA qualification and quarterly income tax payment

opening an HSA is tied to having a qualifying High Deductible Health plan (HDHP). If after you retire you go into an HDHP, yes, you can open and fund. When you start medicare you can no longer contribute to an HSA, but can keep and spend your existing HSA If you start pension payments in July, I wou...
by fabdog
Mon Jan 23, 2017 8:23 pm
Forum: Personal Consumer Issues
Topic: Amazon Phishing Email after Order
Replies: 16
Views: 2004

Re: Amazon Phishing Email after Order

Have never had that...

you can report suspect emails to them https://www.amazon.com/gp/help/customer ... =201127830

and tips on what an Amazon mail should look like https://www.amazon.com/gp/help/customer ... d=15835501

Mike
by fabdog
Sat Jan 21, 2017 8:13 am
Forum: Investing - Help with Personal Investments
Topic: Investment tax question
Replies: 1
Views: 203

Re: Investment tax question

so did you contribute to a Traditional Ira and then convert it all over to a Roth? That would generate the 1099R. If that was the case you tell your tax software that you converted it to a Roth, and if you had no other Trad IRA balances should take care of the tax issue. Should come with a distribut...
by fabdog
Tue Jan 17, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: HDHP switch? Feedback appreciated
Replies: 5
Views: 315

Re: HDHP switch? Feedback appreciated

1) The new year for our health insurance begins in July. Can I max out our HSA while we have the HDHP by June 30 even though we won't be in the plan for the full year of 2017? No, you must be insured through the year to have the full HSA contribution available 2) Does it make financial sense to swit...
by fabdog
Mon Jan 16, 2017 8:12 pm
Forum: Personal Consumer Issues
Topic: Rental car--new windshield crack
Replies: 14
Views: 1658

Re: Rental car--new windshield crack

I had a similar situation, noticed on the last day a crack after something hit the windshield. It was small and on passenger side. When I dropped off car they noted the crack, and charged me $138 since I didn't have the CDW. I didn't have to worry about driving for days and whether the crack got wor...
by fabdog
Mon Jan 16, 2017 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Maxing out Tax Free accounts
Replies: 10
Views: 881

Re: Maxing out Tax Free accounts

If your income is above $11K year, she can fully fund a Roth IRA or a TIRA, or some combo, up to $5500. If income limits apply you can do the non deductible IRA and then a backdoor roth if desired She can also open a Solo 401K where she put all of her self employed earnings from her free lance writi...
by fabdog
Sat Jan 14, 2017 6:14 pm
Forum: Investing - Help with Personal Investments
Topic: Friend is accidentally in Roth phase-out
Replies: 11
Views: 1620

Re: Friend is accidentally in Roth phase-out

re charecterize the Roth IRA contribution back to a non deductible IRA. That gets him out of the jam of the Roth contribution when income limit too high. If desired, he can then back door the Non deductible IRA over to a Roth. He'll have the delta between contribution and balance (earnings) show up ...
by fabdog
Fri Jan 13, 2017 9:18 am
Forum: Investing - Help with Personal Investments
Topic: HSA Suggestions: where?
Replies: 20
Views: 1716

Re: HSA Suggestions: where?

HSA bank has a paired investment account at TD Ameritrade, no commission ETF trades for Vanguard funds. If you leave $5K in your HSA cash account there are no fees, or you can put the whole amount at TD Ameritrade and HSA bank will charge $2.50/month HSA bank pays tiered interest on balances in cash...
by fabdog
Fri Jan 13, 2017 9:14 am
Forum: Investing - Help with Personal Investments
Topic: Short term savings
Replies: 3
Views: 338

Re: Short term savings

Safely tuck away. So that means maybe an online savings (Ally usually around 1%). Money market funds are still painfully low.. there are lots of threads here on CD's from various institutions with short or no early withdrawal penalties... so you could load into CD's to get a bit more yield... and st...
by fabdog
Sun Jan 08, 2017 6:29 pm
Forum: Investing - Help with Personal Investments
Topic: Spousal IRA -> Backdoor Roth IRA, and Spousal Income
Replies: 6
Views: 497

Re: Spousal IRA -> Backdoor Roth IRA, and Spousal Income

As long as between the two of you you have $11K in earned income, you are fine. The spousal arrangement allows up to the full amount as long as the couple have income sufficient to fund both accounts. So say you make $50K and she makes $2K... then you can fund both accounts and do the backdoor on bo...
by fabdog
Sun Jan 08, 2017 12:29 pm
Forum: Investing - Theory, News & General
Topic: Expat Wanting to Invest in US Mutual Funds
Replies: 17
Views: 1465

Re: Expat Wanting to Invest in US Mutual Funds

We were out of the US for 7 years and had no issues maintaining our Schwab and Vangaurd accounts, as well as our bank accounts. We maintained a US based address with our daughter

Mike
by fabdog
Sun Jan 08, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Changing Credit Cards within same Bank/Issuer
Replies: 8
Views: 500

Re: Changing Credit Cards within same Bank/Issuer

Depends on the card at Chase. As DSInvestor noted, I called Citibank to change my American Airlines card to double cash, no problem (no more travel so the AA card didn't fit any longer) When I called Chase to try the same move with my United Airlines card, no go. Had to apply separately for the Sapp...
by fabdog
Sat Jan 07, 2017 10:01 am
Forum: Investing - Help with Personal Investments
Topic: Disadvantage of Tax loss harvesting
Replies: 65
Views: 3756

Re: Disadvantage of Tax loss harvesting

Well, if you generate no capital gains, it will sure take a while to use up ~$150K in carry forward losses, at a max of 3K/year. Always dangerous to assume, but you may have some positions with significant capital gains you want to leave, perhaps to rebalance as time goes by. Your carry forward loss...
by fabdog
Tue Jan 03, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Deducting Mortgages on 2 homes?
Replies: 2
Views: 411

Re: Deducting Mortgages on 2 homes?

IRS Publication 936 will walk you through the details... but the short story is you can deduct interest on up to $1 Million in loans on your main home and second home Points on an original mortgage are generally deductible in the year paid... the pro rating across life of loan is for a re finance so...
by fabdog
Tue Jan 03, 2017 11:48 am
Forum: Investing - Theory, News & General
Topic: Tax software for doing What If? analyses
Replies: 3
Views: 494

Re: Tax software for doing What If? analyses

Any of the packages can fill the bill (Turbo Tax, H&R Block, TaxCut, etc)

Depends on which one you like the best

Mike
by fabdog
Tue Jan 03, 2017 11:47 am
Forum: Personal Finance (Not Investing)
Topic: what to do with unresponsive recruiter
Replies: 11
Views: 963

Re: what to do with unresponsive recruiter

Unfortunately there's not a lot you can do. Recruiters fill openings.. if you can fill an opening for them, they will be in contact... if you can't they won't. Doesn't make them a bad person, just means they spend their time on where they see their opportunities for money. In this specific case, any...
by fabdog
Sun Jan 01, 2017 12:53 pm
Forum: Personal Consumer Issues
Topic: Luck with DirectTV Now?
Replies: 35
Views: 4315

Re: Luck with DirectTV Now?

Agree it's not ready for "prime time"... it was horrible during the Clemson/OSU game last night... of course the commercials ran fine... but the game.. horrid... It does Ok during the day... but not in the evening... Customer service response is "we are working on making the service e...
by fabdog
Sat Dec 31, 2016 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Requesting a Leave of Absence
Replies: 25
Views: 2022

Re: Requesting a Leave of Absence

I second the advice on finding others who have done this in your company. I understand your frustration, but you should at least be looking around if you've gotten that disenchanted with the job. Company policies vary, but in my last company they were hard to come by as there were solid policies for...
by fabdog
Fri Dec 30, 2016 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Will making a contribution to Fidelity Charitable right now count towards '16 or '17?
Replies: 1
Views: 159

Re: Will making a contribution to Fidelity Charitable right now count towards '16 or '17?

So I'd call Fidelity and make sure, but I would assume if you get the money in by the 31st (like any other charity) it would be covered as a 2016 contribution.

I've gotten emails from 3 charities today 'reminding" me to get my donation processed by 11:59 pm tomorrow :happy

Mike
by fabdog
Mon Dec 26, 2016 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Hit salary cap. Receiving lump sum in lieu of raise
Replies: 51
Views: 5470

Re: Hit salary cap. Receiving lump sum in lieu of raise

An alternative view is that the company has a market value for the position and if the economy at large isn't driving an increase in that eventually folks will top out. I've seen the effect when folks have gotten promoted in place, but the job and their contributions don't increase, eventually that ...
by fabdog
Sat Dec 24, 2016 6:43 pm
Forum: Personal Consumer Issues
Topic: How easy is it to refinance a car loan?
Replies: 6
Views: 614

Re: How easy is it to refinance a car loan?

Why don't you just arrange the loan from the credit union in advance, and skip all those steps? If the dealer will give you a better price for using their financing, tell them thanks, great price, here's my financing, and out you go. Lots of pressure in that last set of steps in the finance managers...
by fabdog
Sat Dec 24, 2016 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is Jan 15, 2017 estimated tax payment included on 1040 line 65?
Replies: 2
Views: 291

Re: Is Jan 15, 2017 estimated tax payment included on 1040 line 65?

you are correct. There is no reason to "pull in" the payment of your federal estimated tax, and the payment you have scheduled for next month will indeed count towards your federal withholding when you do your taxes next spring the articles you read are indeed referring to state and local ...
by fabdog
Wed Dec 21, 2016 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: Need to terminate solo 401(k)?
Replies: 8
Views: 743

Re: Need to terminate solo 401(k)?

Why would you terminate your solo 401(k) if you stopped the consulting? You can just let it sit there, just like if you left your old job and let your 401(k) balance stay in the old plan. Just because you don't work there anymore they don't terminate the 401(k) (assuming you have over some minimum. ...
by fabdog
Mon Dec 19, 2016 6:26 pm
Forum: Investing - Help with Personal Investments
Topic: Investment grade bonds returning more than 6%?????
Replies: 8
Views: 1418

Re: Investment grade bonds returning more than 6%?????

Well, you outlined some of the risks or "catches" nicely...defaults, calls, reinvestment risk. the bonds in the Morningstar thread you referenced were the Solar City bonds they put out... google the company... they REALLY need cash... and Musk and family bought a big chunk. as you noted, a...
by fabdog
Mon Dec 12, 2016 5:10 pm
Forum: Investing - Help with Personal Investments
Topic: GFIA, DIA , or SPIA or none?
Replies: 31
Views: 2016

Re: GFIA, DIA , or SPIA or none?

Hard to tell if your advisor is trying to sell you a deferred income annuity (which would defer payouts until ~ 85) or just a standard variable annuity that you put money in now and annuitize at 65. Based on their "pitch" factors I'd guess it's more of a standard variable annuity, since it...
by fabdog
Mon Dec 12, 2016 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Taking on a 5/5 ARM in this environment?
Replies: 27
Views: 2316

Re: Taking on a 5/5 ARM in this environment?

If you think you'll be in the house 5 years or less, take the ARM and run with it. If you think you'll be there for a long time, I'd take the fixed rate and not look back None of us can predict rates in 5 years, so look at it as an asymmetric issue... if rates really fall from here, you could always...
by fabdog
Mon Dec 12, 2016 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: IRA deduction question
Replies: 5
Views: 280

Re: IRA deduction question

They reduce your AGI... but you pay tax on your taxable income, not your AGI. So the TIRA would reduce your AGI... but after standard deduction and exemptions then you are in the 15% bracket... so it knocks 15% off your taxes It may help to get a blank 1040 and walk down the form to final tax spot t...
by fabdog
Sat Dec 10, 2016 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: 2016 Federal Taxes underwithheld
Replies: 37
Views: 2803

Re: 2016 Federal Taxes underwithheld

Well, the 90% of what you owe might save the day... unless your AGI is more than $150K. then it won't help. You can make an estimated payment for the Jan 15th due date, and that will help... as you won't owe a penalty for the 4th quarter... but you may still be hit with a penalty for the previous 3 ...
by fabdog
Fri Dec 09, 2016 8:42 am
Forum: Investing - Help with Personal Investments
Topic: New to investing and requesting assistance
Replies: 18
Views: 1480

Re: Another question

Based on what you wrote... the $3000 capital gain should not be taxable given your income level. It will get entered on your tax return but should not generate taxable income You can sell the stock with a loss next year, and deduct that loss (up to $3000) against your income, assuming you have no ot...
by fabdog
Thu Dec 08, 2016 3:26 pm
Forum: Personal Consumer Issues
Topic: Call Forwarding Service?
Replies: 2
Views: 297

Re: Call Forwarding Service?

not exactly the same, but we use OOMA for our home landline, and it lets us forward to a cell or their mobile app. They also claim to integrate with Google Voice although we are not using that

Mike
by fabdog
Thu Dec 08, 2016 3:05 pm
Forum: Investing - Help with Personal Investments
Topic: Schwab brick-and-mortar store
Replies: 11
Views: 838

Re: Schwab brick-and-mortar store

When we first opened our Schwab account we went to the physical branch in our city. It was very helpful, as they helped us with all the consolidation, opened all the accounts we needed, filled out the transfer forms and got us all set. We have never had a need to go in since. Most everything can be ...
by fabdog
Wed Dec 07, 2016 3:28 pm
Forum: Investing - Help with Personal Investments
Topic: HSA Bank investment options
Replies: 3
Views: 523

Re: HSA Bank investment options

I use HSA bank and invest through TDAmeritrade. I take advantage of the no transaction fee ETF trades, with Vanguard ETF's available. The only "catch" is you have to "opt in" for the no fee ETF's... once you've done that, you are all set

Mike
by fabdog
Wed Dec 07, 2016 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Sort of a new question on college funding
Replies: 15
Views: 1050

Re: Sort of a new question on college funding

I'll leave the Roth discussion to others When I used the Utah plan, it had it's own website that I needed to go thru. When I switched to the Vanguard plan offered on their website (which I believe is the Nevada plan) it shows up on the Vanguard website among our other accounts, and the balances go t...
by fabdog
Tue Dec 06, 2016 4:03 pm
Forum: Investing - Help with Personal Investments
Topic: questions on setting up solo 401k
Replies: 4
Views: 333

Re: questions on setting up solo 401k

for number 2, needs to be set up by Dec 31st of this year. Your deferrals are supposed to be with held also by end of year, but you have until Apr 15th (or Oct if you get an extension) to actually deposit the funds As Livesoft noted, fees should be zero, and there is a lot of paperwork to acknowledg...
by fabdog
Mon Dec 05, 2016 3:46 pm
Forum: Investing - Help with Personal Investments
Topic: Overcontribution to Roth IRA
Replies: 4
Views: 512

Re: Overcontribution to Roth IRA

For your account, easiest thing to do is just re-characterize back to a non deductible IRA and then do the back door conversion. As you are worried on time, and you are going to be very close to the income limit, why not re characterize the whole thing, and then do the back door... then you are not ...
by fabdog
Sat Dec 03, 2016 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Is there a Lazy Way to Report Carryover Losses for Tax Return
Replies: 8
Views: 750

Re: Is there a Lazy Way to Report Carryover Losses for Tax Return

I do not see a way to claim it. If it was 2013 or later, you could file amended return for the year in question, and claim it against that, and carry forward any excess into the next year(s) amended till it was consumed.

For a loss that far back, it's gone

Mike
by fabdog
Mon Nov 28, 2016 6:52 am
Forum: Investing - Help with Personal Investments
Topic: Exchanging out of last two active VG funds...
Replies: 3
Views: 537

Re: Exchanging out of last two active VG funds...

if you have more than $3K in losses you can carry the remainder forward until you use them up

What's driving you to sell? Just the distributions? or a change as they no longer fit your IPS?

Mike
by fabdog
Sun Nov 20, 2016 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Severance Package Taxes
Replies: 10
Views: 1480

Re: Severance Package Taxes

There is how they'll be taxed when you file your taxes in April 2017, and April 2018, which is as regular income But I think what you want is how your employer will with hold taxes, so you can work up cash estimates. You regular paycheck and your bonus check will likely be taxed as they have always ...
by fabdog
Sat Nov 19, 2016 3:54 pm
Forum: Investing - Help with Personal Investments
Topic: State Tax Return
Replies: 6
Views: 677

Re: State Tax Return

Agree that you should send them a letter stating resident of State B. That way it gets resolved, don't ignore. While on an overseas assignment, my company did my taxes. They were located in CA, we were NM residents. They filed the returns with a CA address so all correspondence came to them. Sure en...
by fabdog
Fri Nov 18, 2016 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Anthem HDHP vs PPO pros and cons
Replies: 15
Views: 1202

Re: Anthem HDHP vs PPO pros and cons

I use HSA bank. You need $5K in your cash account to avoid fees.. anything over that you can use an account at TD Ameritrade, NTF Vanguard ETF's available there. If you keep less than $5K in the cash side, it's $3/month... so not totally outrageous if you want to invest most or all of your contribut...
by fabdog
Fri Nov 18, 2016 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Roth Minimum $ Question
Replies: 7
Views: 651

Re: Vanguard Roth Minimum $ Question

I'd call them to verify.. but to your original question... minimum on ETF's is the share price of 1 share. Mike (from VG website) Things you should know before you get started Minimum investment amounts You'll need $3,000 to buy most Vanguard mutual funds, though there are some with lower or higher ...
by fabdog
Thu Nov 17, 2016 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: franchise [Investing in a franchise]
Replies: 7
Views: 1089

Re: franchise

Good advice I got a long time ago... if you are considering a franchise, find a way to work at a branch for 2 weeks. Then decide if that's something you want to do. One you put down the money, too late if you find out it isn't what you thought

Mike
by fabdog
Tue Nov 15, 2016 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: Should I consolidate Vanguard to Merrill Edge?
Replies: 25
Views: 2358

Re: Should I consolidate Vanguard to Merrill Edge?

During the transition, I was contacted by Merrill Edge, with them saying part of my benefits with my previous employer was a buy-in into an Individual Retirement Rollover Account with ME. My understanding was there was a one time buy-in fee. that's a great one... the salesman (er, Merrill Edge rep) ...

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