Search found 235 matches

by fabdog
Tue Apr 17, 2018 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Individual HSA Monthly Investment Fees
Replies: 2
Views: 194

Re: Individual HSA Monthly Investment Fees

That's HealthEquity's fee structure. My wife has them as HSA provider thru her work insurance. HSA Bank uses TD Ameritrade as a broker, and as long as you keep $5K in the main account, no fees, and there are no fee ETF's at TDAmeritrade. They ditched their Vanguard funds a few months back but have o...
by fabdog
Tue Apr 17, 2018 3:52 pm
Forum: Investing - Help with Personal Investments
Topic: What type of EIN for solo 401k?
Replies: 2
Views: 211

Re: What type of EIN for solo 401k?

I opened mine as individual (sole Prop).

You don't even have to use the EIN for your business, but you need it for the Solo 401(k)

None of the other options really fit you (Trust, partnership, estate, corporation)

Mike
by fabdog
Tue Apr 17, 2018 2:11 pm
Forum: Personal Consumer Issues
Topic: paying California state taxes with multiple gift cards
Replies: 2
Views: 385

Re: paying California state taxes with multiple gift cards

This handy site leads to their credit card vendor... looks like you can pay as many times as you like, as long as you're willing to pay the fee

https://www.ftb.ca.gov/online/CCard.shtml

Mike
by fabdog
Sun Apr 01, 2018 11:48 am
Forum: Investing - Help with Personal Investments
Topic: 529 Question
Replies: 1
Views: 202

Re: 529 Question

Sure, an easy way. What's your state tax marginal rate (let's use 5% as an example). Then the tax benefit of the deduction (assuming you put in $4660 annually) is $4660*.05 or $233 per year. The expense ratio savings of your $20K going from .30/year in your plan to Vanguard at .16 is $20K*.0014 (the...
by fabdog
Sun Mar 25, 2018 8:28 am
Forum: Investing - Help with Personal Investments
Topic: IRA Transfer Mix up
Replies: 0
Views: 116

IRA Transfer Mix up

I did a search but didn't find this specific situation I've been encouraging my adult daughter to consolidate her trailing retirements from various jobs so she doesn't lose track of them over time. So far, so good, until this last round. She was trying to roll over her FERS contributions to IRA's at...
by fabdog
Sat Mar 03, 2018 5:45 pm
Forum: Investing - Help with Personal Investments
Topic: Can't find statements for but got K-1 for PowerShares funds
Replies: 5
Views: 309

Re: Can't find statements for but got K-1 for PowerShares funds

Well if she's getting a K1 from the fund and it shows a basis of $11K, she owns it somehow.

I'd see if I could find the successor To Currian, where did their assets go when they closed?

Mike
by fabdog
Sat Feb 24, 2018 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Tax deduction question
Replies: 3
Views: 330

Re: Tax deduction question

The investment fees are subject to the limit of only the amount above 2% of her AGI is deductible. If you go to the forms view and look at Schedule A you''ll see entries down towards the bottom (line 23) for the investment expense (and any other items like cost of the software for tax prep) It the m...
by fabdog
Sat Feb 17, 2018 10:19 am
Forum: Investing - Help with Personal Investments
Topic: Help with DIY 529
Replies: 4
Views: 340

Re: Help with DIY 529

Absolutely. Every one of the 529 plans i have dealt with has an auto invest option, and encourages it. So you can set up recurring withdrawals from your checking account. Depending on what tax benefits you got from Alaska by contributing (many states that allow a tax deduction for contributions will...
by fabdog
Fri Feb 09, 2018 4:49 pm
Forum: Personal Consumer Issues
Topic: Financially secure, horrible workplace but just can't FIRE
Replies: 55
Views: 7435

Re: Financially secure, horrible workplace but just can't FIRE

I agree that you should be looking to jump from this place... no one needs the stress at any age. If you haven't worked out the plan of what to retire to, maybe look for something part time so you have some structure, and use the new free time to explore things (volunteer or paid, maybe even your ow...
by fabdog
Fri Feb 02, 2018 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: How to see the 1099s the IRS received
Replies: 3
Views: 634

Re: How to see the 1099s the IRS received

you can check your taxpayer transcript, that should have all the 1099, W2, etc they got for you

Unfortunately I have never tried getting one for a current year, only to recon past years

Mike
by fabdog
Thu Feb 01, 2018 8:10 pm
Forum: Investing - Help with Personal Investments
Topic: I Bonds and TD Account
Replies: 3
Views: 369

Re: I Bonds and TD Account

for the kids under 18, you open a "linked" account using their SSN, and then can purchase 10K yearly for them under their SSN, without impacting your yearly limit. When the kids turn 18 there is a process to move the account over to them You access these linked accounts from your TD login, and can m...
by fabdog
Wed Jan 31, 2018 5:21 pm
Forum: Investing - Help with Personal Investments
Topic: Q. solo 401k
Replies: 36
Views: 1553

Re: Q. solo 401k

so the key is if your "real estate/rentals" activity is a business. Are you considered a professional real estate person, with a Schedule C for that? Or you have rentals on Schedule E. If you're just doing rentals on Schedule E, I would not consider that you have a business that would qualify you fo...
by fabdog
Sun Jan 28, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Tax or Other Implications for Out of State House Sale?
Replies: 7
Views: 438

Re: Tax or Other Implications for Out of State House Sale?

based on what you replied, not likely. If her name IS on the title (not the mortgage) and when the home settles, the title company issues her any money, then you'll be getting a 1099 for the proceeds for her share, and will have to account for it using her share of the cost basis If she doesn't get ...
by fabdog
Sun Jan 28, 2018 4:48 pm
Forum: Investing - Theory, News & General
Topic: What taxes in retirement?
Replies: 6
Views: 1334

Re: What taxes in retirement?

Cap gains and dividends, normal income tax (depending on your tax bracket, may be 0%) pensions, 401K, etc also normal income tax (as long as you're over 59.5 years) Social security it depends again on your income, but if it is taxed, it's income tax You'd only pay SS/Medicare taxes if you took anoth...
by fabdog
Sat Jan 27, 2018 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Donate RMD to charitable organization
Replies: 9
Views: 726

Re: Donate RMD to charitable organization

you should read the regulations carefully. My understanding is that QCD's can only be made by individuals who have reached 70.5 years of age From pub 590, which makes no distinction between traditional or inherited IRA's in this section Qualified charitable distributions. A qualified charitable dist...
by fabdog
Sat Jan 27, 2018 7:45 am
Forum: Investing - Help with Personal Investments
Topic: Selling individual tax lots
Replies: 11
Views: 814

Re: Selling individual tax lots

no difference for tax purposes, if your intent is to sell shares that have a cap gain of $1K If you wanted less, you could sell some subset of b thru f, or some subset of A If you were doing all this manually, it might be helpful to get rid of B-F so you just had one tax lot to track... but since it...
by fabdog
Sat Jan 27, 2018 7:41 am
Forum: Investing - Help with Personal Investments
Topic: Money in tIRA from Backdoor Roth conversion
Replies: 6
Views: 352

Re: Money in tIRA from Backdoor Roth conversion

Assuming this was the gain you had in the tIRA before you did the backdoor conversion. You can see if your institution will "sweep" the .63 over to your Roth, you'll owe tax on that when you file. If your financial institution won't send it over, you can just wait till next year (assuming you do a t...
by fabdog
Fri Jan 26, 2018 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Rhino Retirement Analyzer
Replies: 4
Views: 743

Re: Rhino Retirement Analyzer

I am sure it is a nice program. If you go to the site, scroll to the bottom, and click the link for professionals, you go here... https://www.degruyter.com/view/product/486326?rskey=WDEA7r&result=1 Where it is pitched as a tool for insurance agents/agencies to pitch insurance to clients. So while it...
by fabdog
Mon Jan 22, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: If wanting to keep separate property separate, should I file "Married but Filing Separate"
Replies: 4
Views: 844

Re: If wanting to keep separate property separate, should I file "Married but Filing Separate"

I agree the article is worthless. If you read carefully he doesn't actually advocate filing separately to protect assets, he just sort of hints at it in the filing section, and says see below. But then he never comes back to it As HueyLD notes, this is a very complex issue but tax filing is not the ...
by fabdog
Tue Jan 16, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Public and Private Schools in MA - your experience
Replies: 13
Views: 1550

Re: Public and Private Schools in MA - your experience

you may find more folks to answer on city-data.com

They have several MA forums, and if you ask about the schools there you will get some replies

Mike
by fabdog
Mon Jan 15, 2018 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Self pay vs insurance
Replies: 10
Views: 858

Re: Self pay vs insurance

For us, health insurance, as others have noted really comes in handy normally for getting the negotiated rate, which saves us a bunch. On those rare years when we hit the deducible, it's because something major went wrong and it's nice to have the backstop when you have a very large expense year Mike
by fabdog
Tue Jan 09, 2018 5:12 pm
Forum: Investing - Help with Personal Investments
Topic: 401k withdrawl question for a friend...
Replies: 8
Views: 600

Re: 401k withdrawl question for a friend...

His plan would have to allow for hardship withdrawals if he is still employed. there are specific uses that qualify, see below. As you note, the money would be added to his income and he'd pay taxes. If he's over 59.5, the 10% extra penalty would not apply His company may also support 401(K) loans, ...
by fabdog
Tue Jan 09, 2018 4:16 pm
Forum: Personal Consumer Issues
Topic: Large Purchase / Chase Sapphire Question
Replies: 21
Views: 1662

Re: Large Purchase / Chase Sapphire Question

if you do any overseas travel, don't overlook the no foreign transaction fee on the Chase Sapphire. The Citibank 2% cashback has 3% FTF Our summer trips overseas more than pay for the annual fee, the travel points are bonus. There are also other cards with rewards that have no foreign TF, nerdwallet...
by fabdog
Sun Jan 07, 2018 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: Does Fidelity have a built-in Backdoor Roth IRA? ...Or is this something else?
Replies: 1
Views: 304

Re: Does Fidelity have a built-in Backdoor Roth IRA? ...Or is this something else?

It would appear that this is your 401(k) plan, and it offers after tax contributions, as well as pre tax and Roth 401(k) flavors The Roth conversion option at the bottom appears to offer the opportunity to sweep your after tax contributions out to a Roth on a quarterly basis. So you could do it quar...
by fabdog
Sun Jan 07, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth question Pro rate rule
Replies: 2
Views: 203

Re: Backdoor Roth question Pro rate rule

And if you'd like to explore clearing the way for your wife to do the same, explore whether her current employers 401(k) plan accepts rollovers. If she has a decent plan with low expenses and it accepts rollovers, you can move the money from her IRA into her current 401(k) plan, and then she has no ...
by fabdog
Sun Jan 07, 2018 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken's future direction - a cause for concern
Replies: 516
Views: 69354

Re: Quicken's future direction - a cause for concern

Quicken Deluxe 2017 download at greentaxexpert.com, download only. Worked fine

Mike
by fabdog
Fri Jan 05, 2018 3:41 pm
Forum: Personal Consumer Issues
Topic: Netflix, Your Current Favorite Show
Replies: 550
Views: 60641

Re: Netflix, Your Current Favorite Show

Thanks for all suggestions. We watched Lilyhammer last night and loved it. We were going to watch Fargo, but were prompted to pay...is that normal? Ed I've never been prompted to pay anything extra on Netflix. Amazon Prime, yes. The only time Netflix has asked us for money is if we try to stream an...
by fabdog
Fri Jan 05, 2018 10:00 am
Forum: Investing - Help with Personal Investments
Topic: I am waiting for an opportunity to lump sum my 2018 contribution to Roth IRA:)
Replies: 16
Views: 1114

Re: I am waiting for an opportunity to lump sum my 2018 contribution to Roth IRA:)

As livesoft said... might as well get the money in the IRA so you get the ~1% tax free compounding while you wait

Just for fun... what's your target? How much of a discount are you expecting? What is the plan if the discount does not appear for some time?

Mike
by fabdog
Thu Dec 28, 2017 5:40 pm
Forum: Investing - Help with Personal Investments
Topic: Cost basis of shares from converted RSUs
Replies: 7
Views: 872

Re: Cost basis of shares from converted RSUs

there are differences RSU vs options... The IRS changed the rule a few years back so if you sold/exercised options in a same day sale... it comes to you on a 1099 with no basis, and the money also shows up on your W2 as taxable income. Turbo tax can chew thru it, it is a bit complicated in Deluxe, b...
by fabdog
Thu Dec 28, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: 529 and the new tax law
Replies: 4
Views: 673

Re: 529 and the new tax law

Do you get a state income tax deduction? If so, certainly worth it to claim that, at a minimum. Check your state for any rules on how long many has to stay in (most have no issues) but even then if you have substantial funding in them already should be fine

Mike
by fabdog
Wed Dec 27, 2017 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: When is the best time to sell an active fund?
Replies: 5
Views: 531

Re: When is the best time to sell an active fund?

better before the RECORD date of the dividends... even if not distributed yet, if it's past the record date (when you are entitled to them), you now will get them

Mike
by fabdog
Tue Dec 26, 2017 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: CA taxes one resident one non
Replies: 1
Views: 301

Re: CA taxes one resident one non

I'm not an expert on CA taxes, but in many states you can file separately, one spouse may have to file as non resident depending on income It is rarely a good idea to go MFS on Federal return I'd look thru the instructions on California state tax on filing statuses available and resident/non residen...
by fabdog
Tue Dec 26, 2017 6:21 pm
Forum: Investing - Help with Personal Investments
Topic: Cost basis of shares from converted RSUs
Replies: 7
Views: 872

Re: Cost basis of shares from converted RSUs

the price at the time they vested and were available to you to hold or sell

Mike
by fabdog
Tue Dec 26, 2017 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for Child: Mom and Dad Co-signed Loans
Replies: 9
Views: 1017

Re: Life Insurance for Child: Mom and Dad Co-signed Loans

Term insurance for her is likely to be quite cheap for $50K in coverage. You could get quotes for just a straight term that might go up a bit each year, or a 5 year or 10 year level policy (depending on how long you think till it's paid off

If it would help you sleep better at night, go for it

Mike
by fabdog
Mon Dec 25, 2017 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: MLP questions
Replies: 6
Views: 762

Re: MLP questions

First, you should understand what it is (full disclosure I own EPD and 2 other pipeline MLP's) They are publicly traded partnership interests, with the units you can buy as limited partner interest (as opposed to the general partner) In this structure they distribute a nice income stream, but can be...
by fabdog
Sat Dec 23, 2017 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Donating Items Questions
Replies: 15
Views: 1395

Re: Donations Question

Sorry, Form 8283 is required when that TOTAL of all non cash gifts is greater than $500 So whether you haul it all over in one go, or break it into multiple days, if the amount you are claiming is > $500 in total, you'll enter onto 8283. Now, the positive- you don't need appraisals if the total valu...
by fabdog
Mon Dec 18, 2017 8:11 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity (FOCPX)..too good to be true?
Replies: 9
Views: 1596

Re: Fidelity (FOCPX)..too good to be true?

Hmmm.. a fund focused on technology shares trading over the counter, whose manager just left It aims to beat the NASDAQ composite... so no, it's not the same as your total stock index fund If you've decided that in the future, this area of the stock market will have better returns than the overall m...
by fabdog
Sun Dec 10, 2017 8:45 pm
Forum: Investing - Help with Personal Investments
Topic: transferring from vanguard IRA to my company 401k
Replies: 4
Views: 405

Re: transferring from vanguard IRA to my company 401k

I'd start with Paychex if they are administering the plan, and ask them. When I did a similar deal from IRA to my megacorp 401, called Fidelity and they sent me a "kit" with the forms I needed, and how to have the check made out from the IRA. Then initiated the distribution from the IRA, when the ch...
by fabdog
Fri Dec 08, 2017 1:38 pm
Forum: Personal Consumer Issues
Topic: Sweet Gum Balls
Replies: 36
Views: 2773

Re: Sweet Gum Balls

I use this to try and tame the onslaught

https://www.amazon.com/dp/B0096XZWNM?ta ... p_ask_sav0

faster than raking and relatively cheap

Mike
by fabdog
Fri Dec 08, 2017 1:21 pm
Forum: Investing - Help with Personal Investments
Topic: I don't know how it happened! [starting new business soon, how to avoid 1% AUM cost]
Replies: 14
Views: 1376

Re: I don't know how it happened! [retiring soon, how to avoid 1% AUM cost]

Certainly making sure you don't overpay for invest service is important... but there is a bunch more here to consider What's your plan for living expenses? You have ~ $1 million saved (good) but how does that align to your expenses? If you want to spend $50/60K year, you are not ready to retire. If ...
by fabdog
Thu Dec 07, 2017 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 111
Views: 9145

Re: Quit jobs to gain lower EFC

EFC does not equal what you will pay in tuition... our first FAFSA was filed the same year I retired and had a bunch of deferred income roll in... my EFC was high six figures... full tuition and room and board at a state school was $22K At your age I think you'll regret trading dollars for quarters ...
by fabdog
Mon Dec 04, 2017 4:59 pm
Forum: Personal Consumer Issues
Topic: Why is an EIN needed for i401k?
Replies: 4
Views: 385

Re: Why is an EIN needed for i401k?

My guess would be since a Solo 401K is a qualified retirement plan, it has to be "sponsored" by an entity, hence the need for an EIN for your business. As the other posters noted, I have my self employment 1099's coming to my SSN, and got an EIN in just a couple of minutes on the IRS website to set ...
by fabdog
Tue Nov 28, 2017 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity Net Benefits: Specifying catch-up contributions
Replies: 8
Views: 590

Re: Fidelity Net Benefits: Specifying catch-up contributions

as mentioned above, employer/plan specific. My plan (also using Fidelity) there are no catch up contributions till you've hit the $18.5K regular contribution limit. You do have to specify the withholding amounts in % for both types... but if you put in your standard contribution to "fill up" your $1...
by fabdog
Fri Nov 17, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: 401K & self employment retirement vehicles?
Replies: 4
Views: 317

Re: 401K & self employment retirement vehicles?

There would be no need to reduce her employee contributions in her employer 401(k) contribution. If it's a low cost plan, has good options, and good match, go for the max. As retiredjg pointed out, she can shelter some of the earnings from her side gig as employer contributions (she's the employer) ...
by fabdog
Tue Nov 14, 2017 2:48 pm
Forum: Personal Consumer Issues
Topic: Home voice dictation experience
Replies: 8
Views: 850

Re: Home voice dictation experience

Have used Dragon in the past. Goal was to reduce keyboard workload to reduce injuries. It works well once you get used to it. You need a decent microphone and a relatively quiet area... and then some practice... it will be a bit frustrating out of the box but after a few days using it you should be ...
by fabdog
Tue Nov 07, 2017 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: 529 plan questions
Replies: 20
Views: 1931

Re: 529 plan questions

The 529 plan should be able to show you gains vs contributions. When the money comes out of the plan they will show gains and basis as making up the total withdrawal If you don't want/need the money... you can make the 529 beneficiary one of you, or hold it in your daughters name and if she has a ch...
by fabdog
Wed Nov 01, 2017 7:30 pm
Forum: Investing - Help with Personal Investments
Topic: Combining 401k
Replies: 21
Views: 1358

Re: Combining 401k

If your previous 401(k) has poor/expensive fund choices, and your current 401(k) has good choices, and your new plan allows transfers in, then it would make sense to combine them. The growth would only be more with them combined if you had better options in the new plan. If both plans earn the same ...
by fabdog
Sun Oct 29, 2017 7:03 pm
Forum: Investing - Help with Personal Investments
Topic: AA By Account or Total Portfolio? (HSA advice)
Replies: 9
Views: 832

Re: AA By Account or Total Portfolio?

I do mine by total portfolio. There are a number of good articles about asset placement (items that throw off lots of income in tax advantaged, etc) but it also allows you to take advantage of what things are available to you in different accounts. Trying to do the allocation by account can be prett...
by fabdog
Sun Oct 29, 2017 3:13 pm
Forum: Personal Consumer Issues
Topic: What's a VPN and Do I Need One
Replies: 6
Views: 1041

Re: What's a VPN and Do I Need One

I use a VPN when accessing my finances away from home on my tablet or PC. As you noted an extra amount of security. If you don't travel a lot or access your finances away from home, not sure I'd get one

Mike
by fabdog
Sun Oct 29, 2017 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k Question - Low Self Employment Income
Replies: 17
Views: 1424

Re: Solo 401k Question - Low Self Employment Income

to answer a few more of your questions On the contributions, amount seems about right. At low earnings, you can put in everything except half the self employment tax I used Schwab for mine, the setup was easy, and since I had about the same annual amount as your wife coming in irregular intervals, t...