Search found 284 matches

by gips
Wed Dec 27, 2017 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: turbotax and accountant don't agree on prepayment of real estate tax
Replies: 12
Views: 952

Re: turbotax and accountant don't agree on prepayment of real estate tax

^ line 7 Qualified Dividends and Capital Gain Tax Worksheet

I came to the same conclusion on your strategy except I want to ensure we have at least $10k to deduct next year if we itemize.
by gips
Wed Dec 27, 2017 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: turbotax and accountant don't agree on prepayment of real estate tax
Replies: 12
Views: 952

Re: turbotax and accountant don't agree on prepayment of real estate tax

I suggest that you fill out IRS Form 6251 (AMT form) by hand for both scenarios and see what you get. I'm not saying that out of snideness; that's what I'd do in your situation. The exercise will be both definitive and explanatory for the different scenarios. One thing I really like about taxes and...
by gips
Wed Dec 27, 2017 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: turbotax and accountant don't agree on prepayment of real estate tax
Replies: 12
Views: 952

Re: turbotax and accountant don't agree on prepayment of real estate tax

I've provided my accountant with the exact same data as described in my OP. Any additional prepayment (any amount > $10k) results in the exact situation you describe.
by gips
Wed Dec 27, 2017 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: turbotax and accountant don't agree on prepayment of real estate tax
Replies: 12
Views: 952

turbotax and accountant don't agree on prepayment of real estate tax

my accountant (and most websites) states that once you hit AMT, there's no benefit to prepayment of local taxes. here's the situation (numbers are for example only and don't reflect actuals) from turbotax: qualified dividends and capital gains worksheet: line 1: enter amount form 1040, line 43: $300...
by gips
Mon Dec 18, 2017 12:19 am
Forum: Personal Consumer Issues
Topic: Help Me [Recover] My Bitcoin!
Replies: 93
Views: 12094

Re: Help Me Cash Out My Bitcoin!

Why don’t you have the private key? Did you lose it?
by gips
Wed Dec 13, 2017 10:11 am
Forum: Personal Consumer Issues
Topic: NYC restaurant suggestion
Replies: 43
Views: 2506

Re: NYC restaurant suggestion

abuss368 wrote:
Wed Dec 13, 2017 9:31 am
What about Little Italy?
unremitting tourist trap
by gips
Sun Dec 10, 2017 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: Interesting ride so far - Crypto-curriencies
Replies: 112
Views: 8518

Re: Interesting ride so far - Crypto-curriencies

In the last 20 years, I've made two bets outside of index funds, facebook and bitcoin. for bitcoin, I was in at $2500, sold enough at $8500 to cover original investment and then some, now playing with house money. I firmly believe it's a bubble, $20k is my exit point. having said that, my gamble rep...
by gips
Fri Dec 08, 2017 11:28 pm
Forum: Personal Consumer Issues
Topic: TV show recommendations?
Replies: 572
Views: 216321

Re: TV show recommendations?

we've been watching a lot of good Scandinavian noir:
wallander
trapped
occupied
nobel

also, have liked:
hostages
fauda
by gips
Fri Dec 08, 2017 11:10 pm
Forum: Personal Consumer Issues
Topic: Linux based laptop or just a Windows based laptop formatted?
Replies: 49
Views: 3196

Re: Linux based laptop or just a Windows based laptop formatted?

unless you understand how to secure a linux laptop, I suggest you purchase a windows laptop with good av, malware and firewall protection. I ran a linux laptop for a while since we were using linux for a client project. In the end, it was more work that it was worth and I went back to windows.
by gips
Fri Dec 01, 2017 10:37 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 20653

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

- when it crashes, it will cause a large drop in the s&p 500 I'm not sure I agree. So many people, in fact, I'd think the majority of investors, expect this currency to drop big time. If I were to hear tomorrow that bitcoin's are now worth $10, in just say, "Yup, we all knew where this was headed."...
by gips
Fri Dec 01, 2017 8:35 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 20653

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

- there is no real value and it's not a ponzi scam - when it crashes, it will cause a large drop in the s&p 500 - I've speculated in bitcoin, have cashed out half my stake and if it goes to zero, my overall gamble will yield a 60% return. - if you're going to trade in a bubble, you need an exit stra...
by gips
Sat Nov 25, 2017 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Analysis Paralysis: Can you get to the bottom of things?
Replies: 136
Views: 9492

Re: Analysis Paralysis: Can you get to the bottom of things?

anything but B is a fool's mission. I've been a consultant to large asset managers. Their fund and portfolio managers attended top schools, they have every imaginable tool, virtually unlimited resources, years of experience and most will not beat the three fund portfolio's performance. Anything that...
by gips
Mon Nov 20, 2017 9:31 pm
Forum: Personal Consumer Issues
Topic: What are the things you want to do between 55 and 65?
Replies: 140
Views: 10740

Re: What are the things you want to do between 55 and 65?

- Focus on health and exercise: since I retired 1.5 years ago, I've lost 15 pounds and improved my cardiovascular capacity. - I was able to spend more time with my daughter, saw almost every one of her varsity tennis matches senior year. - extended travel - giving back to our community - taking onli...
by gips
Sat Nov 18, 2017 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Asset allocation for 5% return
Replies: 65
Views: 5307

Re: Asset allocation for 5% return

before I retired I was a co-owner of a 125 person business with expertise in providing consulting services to asset and wealth managers We knew an awful lot about managing money but chose to outsource everything outside of our core business focus and that would be my recommendation to you. Focus on ...
by gips
Tue Nov 14, 2017 12:23 pm
Forum: Investing - Help with Personal Investments
Topic: Introduction to myself, my portfolio and my situation
Replies: 9
Views: 1857

Re: Introduction to myself, my portfolio and my situation

- on ss, I think you'll have to make your best guess around life expectancy and plan from there - what is your mortgage and car loan rates? If high, you may want to consider paying them off - your exposure to equities is higher than I'd choose for myself or most people recommend at your age. think a...
by gips
Sun Nov 05, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: zero cap gains tax, how does it work?
Replies: 4
Views: 595

zero cap gains tax, how does it work?

Hi, I understand that if I fall into the 10 or 15% tax bracket my cap gains tax is zero. Does that mean if I have $1mm in cap gains, it's all taxed at 0%. Or just up to the income level that defines the bracket? I'm guessing the latter or we'd have a lot of people sitting out a year or two after a b...
by gips
Sun Nov 05, 2017 10:18 am
Forum: Personal Consumer Issues
Topic: aca health care for out of state college student? or out of country travels?
Replies: 2
Views: 321

aca health care for out of state college student? or out of country travels?

Hi, cobra runs out in feb, looking at aca in ny now. I spoke to a NYS provider and they said we're covered if we travel out of state but have to call for approval. we have a college student in another state, they have a health center, local hospital, and network of doctors. Does my son have to call ...
by gips
Sat Nov 04, 2017 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: Lets talk emergency funds and I-bonds
Replies: 23
Views: 2239

Re: Lets talk emergency funds and I-bonds

people are worried about tdirect hacking but not paper bonds? can't paper bonds be stolen or lost?
by gips
Tue Oct 31, 2017 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Early-retired 35 year old with $1 million
Replies: 198
Views: 19941

Re: Early-retired 35 year old with $1 million

I doubt any 35 yo can retire with $1mm. let me put it differently, while I'm sure there are some 35 year olds that can retire with $1mm, I believe the failure rate is close to 100%. I haven't read the entire thread, but here are some factors that come to mind: - inflation - increased expenses - adve...
by gips
Tue Oct 17, 2017 8:31 pm
Forum: Personal Consumer Issues
Topic: contributing to friend's non-profit?
Replies: 36
Views: 2226

Re: contributing to friend's non-profit?

The money is being given to a charity with the expectation that it will do some good and I'm putting my trust in a friend that I've had for forty years. I don't think "blowing $500" is a fair characterization of what's at play here. I do appreciate and understand your position (as it was mine when I...
by gips
Tue Oct 17, 2017 8:20 pm
Forum: Personal Consumer Issues
Topic: Business Laptop Suggestions Request
Replies: 36
Views: 3226

Re: Business Laptop Suggestions Request

I've been purchasing dell lattitude ultrabooks off of the dell business outlet for our business and family. Suggest you wait for an applicable coupon (30% off is typical) to show up on their facebook/twitter site. Comes with a three-year, on-site warranty. the laptops is priced between $600 and $700...
by gips
Tue Oct 17, 2017 1:26 pm
Forum: Personal Consumer Issues
Topic: contributing to friend's non-profit?
Replies: 36
Views: 2226

Re: contributing to friend's non-profit?

^Because he's been my friend for 40 years.
by gips
Tue Oct 17, 2017 11:36 am
Forum: Personal Consumer Issues
Topic: contributing to friend's non-profit?
Replies: 36
Views: 2226

Re: contributing to friend's non-profit?

thank you for all the thoughtful replies. I've done a little research: - I received information today about the cost of the gala. The minimum cost is $250/pp. - He has established 501(c)(3) status for the non-profit - He has a board of about fifteen members, they all seem to be smart people with acc...
by gips
Mon Oct 16, 2017 3:55 pm
Forum: Personal Consumer Issues
Topic: What do you buy in Asian food stores?
Replies: 86
Views: 6220

Re: What do you buy in Asian food stores?

the other replies cover most of what we purchase. I make thai curry and in addition to fish sauce, I find our local hmart a good place to purchase coconut milk and curry paste. we also love to grill their marinated meat (the pork belly is especially fabulous). hmmm, not sure if anyone mentioned kimc...
by gips
Sun Oct 15, 2017 9:39 pm
Forum: Personal Consumer Issues
Topic: contributing to friend's non-profit?
Replies: 36
Views: 2226

contributing to friend's non-profit?

I have a long-time friend who is extremely bright but, for various reasons, his career has moved sideways. Now in his late 50s, he's struggled to land a ft role and instead, has had a string of consulting assignments. I'm not sure of his financial position...he may be quite wealthy or may be struggl...
by gips
Wed Sep 20, 2017 3:29 pm
Forum: Personal Consumer Issues
Topic: How useful is a home security system?
Replies: 82
Views: 8210

Re: How useful is a home security system?

we've just become empty nesters, our 75 lb dog recently passed and we'd like to do a little travel. we live in a very safe place but our neighbor's house was broken into a couple of years ago. I'm looking into hybrid security/home automation systems and have found our insurance company offers a $360...
by gips
Tue Sep 19, 2017 3:01 pm
Forum: Investing - Theory, News & General
Topic: Data-driven individual stock approach
Replies: 28
Views: 1746

Re: Data-driven individual stock approach

livesoft, I know you're a student of the market. if no one believes you, why don't you post your trades before you make them? I'll volunteer to setup a google doc that timestamps your entries. I do post my trades before I make them at a place where I cannot control nor fake the timestamps. I've bee...
by gips
Tue Sep 19, 2017 11:22 am
Forum: Investing - Theory, News & General
Topic: Data-driven individual stock approach
Replies: 28
Views: 1746

Re: Data-driven individual stock approach

livesoft, I know you're a student of the market. if no one believes you, why don't you post your trades before you make them? I'll volunteer to setup a google doc that timestamps your entries.
by gips
Tue Sep 19, 2017 11:01 am
Forum: Investing - Theory, News & General
Topic: Data-driven individual stock approach
Replies: 28
Views: 1746

Re: Data-driven individual stock approach

I've worked on wall st for 40 years, all in an around IT (I have an ms in cs). If it's a hobby, or you want to improve your IT skillset, great idea. But I don't think you're going to make money. Imagine this scenario: Ivy league educated portfolio/hedge managers paired with a team of talented (mit/c...
by gips
Fri Sep 08, 2017 10:33 am
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 424
Views: 32990

Re: To take or not to take delivery of Tesla 3

I believe the $7,500 incentive will last through the third quarter of 2018 and perhaps the entire year. My delivery estimate is 2Q 2018 and my plan is to purchase the base model with as few options as possible. I'm of the opinion that $27,500 is going to be a very good deal.
by gips
Wed Aug 09, 2017 6:38 pm
Forum: Personal Consumer Issues
Topic: foursquare laptop warranty for college bound daughter
Replies: 17
Views: 1241

foursquare laptop warranty for college bound daughter

I purchased a new laptop off dell's outlet site for $800, comes with a one-year warranty for malfunctions. I can get a 3-year warranty from squaretrade with a $99 deductible for $199, includes drops, spills, and malfunctions. So figure it will cost me $300 for the first repair, $200 for the second. ...
by gips
Tue Aug 08, 2017 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: College and Paying for it
Replies: 61
Views: 4978

Re: College and Paying for it

there was a study of earnings for liberal arts vs stem students. For stem students, the school they attended had no effect on earnings. For liberal arts graduates, the school attended was very meaningful. we have three full-pay kids. We gave them each a budget that was sufficient to attend any schoo...
by gips
Fri Jul 21, 2017 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: if spreadsheet with account balances goes to hackers?
Replies: 11
Views: 1255

if spreadsheet with account balances goes to hackers?

Hi, I have a spreadsheet with brokerage, investment (cusip, ticker), amount and a bunch of characteristics of the investment. I don't have account numbers, passwords, etc. stored in the spreadsheet. For ease of sharing, I'd prefer to store unencrypted on google drive (I do have encryption software f...
by gips
Fri Jun 30, 2017 10:04 am
Forum: Personal Consumer Issues
Topic: Best cars for multiple kids
Replies: 51
Views: 3951

Re: Best cars for multiple kids

we too narrowed it down to odyssey vs Siena. chose the odyssey over the sienna because 1) there was a lot more luggage space and 2) it was less expensive. Not sure if either of those factors hold true today as our odyssey is nine years old and still in great working condition. we sure didn't want a ...
by gips
Mon Jun 19, 2017 8:43 am
Forum: Personal Consumer Issues
Topic: NYC coop
Replies: 12
Views: 1625

Re: NYC coop

I agree she needs to meet with the board, a reasonable compromise is to adjust the net worth requirement based on the sales price of the coop. Unfortunately, the net worth requirement may be in place to "keep the riff raff out". we had a coop we couldn't sell, we were able to relocate by subletting ...
by gips
Tue Jun 13, 2017 12:04 pm
Forum: Personal Consumer Issues
Topic: replace deck, veranda from home depot?
Replies: 6
Views: 1357

Re: replace deck, veranda from home depot?

thanks for the replies. I have a basic problem purchasing material where there's no pricing competition (veranda is exclusive to home depot) but I suppose they are competing against other composites.
by gips
Sat Jun 10, 2017 10:53 pm
Forum: Personal Consumer Issues
Topic: replace deck, veranda from home depot?
Replies: 6
Views: 1357

replace deck, veranda from home depot?

Hi,

our deck is 30 years old, our contractor is steering us towards veranda from home depot. He doesn't make any money on materials since we purchase the materials. Any experiences, positive or negative? is there another material we should look at?

tia,
by gips
Thu Jun 01, 2017 7:33 pm
Forum: Personal Consumer Issues
Topic: avoiding spam?
Replies: 8
Views: 740

Re: avoiding spam?

you never get spam in your inbox? or you never get spam in your spam folder?
by gips
Thu Jun 01, 2017 7:22 pm
Forum: Personal Consumer Issues
Topic: avoiding spam?
Replies: 8
Views: 740

avoiding spam?

I get a lot of spam. Google does a good job filtering it but I'm thinking about starting over and attempting to stay spam free. here's my plan: - obtain a new email address - use a forwarding service like sneakemail or trashmail. These services allow one to create new email addresses and forward to ...
by gips
Mon May 29, 2017 3:40 pm
Forum: Personal Consumer Issues
Topic: am I the victim of ID theft?
Replies: 15
Views: 2456

Re: am I the victim of ID theft?

thanks, I checked my credit report, no new activity. I think all is well!
by gips
Sat May 27, 2017 11:06 am
Forum: Personal Consumer Issues
Topic: am I the victim of ID theft?
Replies: 15
Views: 2456

am I the victim of ID theft?

This morning received an emailed receipt from thrifty for another person. The receipt had my home address and it was obviously sent to my email address but the name on the receipt was someone else. The rental occurred in las vegas. I don't recognize the last four digits of the credit card. I checked...
by gips
Wed May 17, 2017 7:55 pm
Forum: Investing - Theory, News & General
Topic: Does trade execution speed matter?
Replies: 15
Views: 1963

Re: Does trade execution speed matter?

I contacted Fidelity about whether I could have the 500 free trade promotion applied to ALL my accounts if I transfer one account with greater than $100k. They basically said no, but they might be willing to give me a few free trades in other accounts too. The Fidelity CSR then said, "You should kn...
by gips
Tue May 09, 2017 9:23 pm
Forum: Personal Consumer Issues
Topic: First 100 mile bike ride
Replies: 51
Views: 3892

Re: First 100 mile bike ride

Yes, Yes, and it's a great sense of accomplishment finishing one of these beasts. I climbed Mt. Evans last year just because I wanted to say I did it - 27 miles of up, up, and more up. Ended up being of the most fun riding experiences I've had - just absolutely awesome . Accomplishment, breathtakin...
by gips
Tue May 09, 2017 8:20 pm
Forum: Personal Consumer Issues
Topic: First 100 mile bike ride
Replies: 51
Views: 3892

Re: First 100 mile bike ride

I guess I'm a minority of one, my advice: don't do it. will it be fun while you're doing it? will it be good for your health? I love to ride but just don't see the point of a 100-mile ride for the sake of saying I did it.
by gips
Wed May 03, 2017 9:28 am
Forum: Personal Finance (Not Investing)
Topic: best way to get a handle on expenses?
Replies: 16
Views: 1483

Re: best way to get a handle on expenses?

thanks...we have a number of banking transactions for vendors that don't take credit cards. a separate download I guess.
by gips
Wed May 03, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: best way to get a handle on expenses?
Replies: 16
Views: 1483

best way to get a handle on expenses?

I've been retired since aug, I have a general sense of our expenses but would like to drill down into specifics. Having said that, I don't want to spend an hour per day entering expenses, so I'm looking for something easy. Mint has a pretty complete picture but at times I've found double entries, po...
by gips
Sun Apr 23, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 23106

Re: Any regrets living a frugal life for high income/high networth individuals?

I don't have any real regrets but as I got older, I learned to pay for quality. For me, this meant an extra $300 for a well-designed, light laptop, an extra $500 for a TV, $250 for shoes, etc. In the end, I've found goods with better quality last longer and give more pleasure in their use. I wish I'...
by gips
Thu Apr 20, 2017 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Starting "web site business". Need an LLC?
Replies: 20
Views: 2115

Re: Starting "web site business". Need an LLC?

In addition to the practices outlined above, my lawyer advised me to conduct annual meetings (with myself) and record minutes.
by gips
Wed Apr 19, 2017 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Starting "web site business". Need an LLC?
Replies: 20
Views: 2115

Re: Starting "web site business". Need an LLC?

I opened an LLC in NY, as mentioned it was $800 via a lawyer. It was many years ago, perhaps the rules have changed. I can't speak for your state but at least federally, an LLC doesn't have to 'act like a corporation.' A single member LLC can be a disregarded entity. This means a separate business r...