Search found 11 matches

by neolk171
Sat Jun 16, 2018 4:33 pm
Forum: Investing - Help with Personal Investments
Topic: Are international stocks in a 529 a bad idea?
Replies: 5
Views: 425

Re: Are international stocks in a 529 a bad idea?

From my limited understanding, you're taxed on dividends paid to you while you own a stock, as well as the gain realized once you sell the stock. Am I right in thinking that a 529 exempts you from both of these taxes? Yes. You don't pay taxes on the earnings as long as you use withdrawals for quali...
by neolk171
Sat Jun 16, 2018 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Contributions & Lifetime Gift Tax Exclusion
Replies: 2
Views: 353

529 Contributions & Lifetime Gift Tax Exclusion

1) It's my understanding that $15,000 of 529 contributions are exempt from the gift tax annually. It's my understanding that if more than $15,000 is contributed to a childs 529 in a calandar year, the excess is applied to the 'lifetime gift tax exclusion' ($11.2 million). Up to 11.2m, gifts are tax ...
by neolk171
Mon Jun 11, 2018 4:54 pm
Forum: Investing - Help with Personal Investments
Topic: Are international stocks in a 529 a bad idea?
Replies: 5
Views: 425

Are international stocks in a 529 a bad idea?

I have a Vanguard 529 for my daughter that is currently allocated as follows: 60% Vanguard Total Stock Market + 40% Vanguard Total International. I am located in Florida. 1) From my limited understanding, you're taxed on dividends paid to you while you own a stock, as well as the gain realized once ...
by neolk171
Wed Mar 21, 2018 11:19 am
Forum: Investing - Help with Personal Investments
Topic: Long-Term Treasuries or Municipal Bonds in taxable portfolio (in 35% bracket)?
Replies: 5
Views: 817

Long-Term Treasuries or Municipal Bonds in taxable portfolio (in 35% bracket)?

Howdy Bogleheads, My portfolio consists of: - 40% Small Value US equities. - 20% Small INTL equities. - 20% S&P 500 - 20% Bonds. I'm in my 20's, unmarried, and I'm more concerned with long-term return than portfolio volatility. I am in the 35% tax bracket. Most of my investments will be in a taxable...
by neolk171
Wed Mar 21, 2018 9:44 am
Forum: Investing - Help with Personal Investments
Topic: After-tax Returns of Total Bond vs. Intermediate Tax-Exempt on Vanguard Website
Replies: 5
Views: 474

Re: After-tax Returns of Total Bond vs. Intermediate Tax-Exempt on Vanguard Website

I've realized one mistake I made when reviewing these numbers. From the Vanguard website: "After-tax returns are calculated using the highest individual federal income tax rates in effect at the time of each distribution." However, even given the above, it would seem that Municipal bonds are almost ...
by neolk171
Wed Mar 21, 2018 8:59 am
Forum: Investing - Help with Personal Investments
Topic: After-tax Returns of Total Bond vs. Intermediate Tax-Exempt on Vanguard Website
Replies: 5
Views: 474

After-tax Returns of Total Bond vs. Intermediate Tax-Exempt on Vanguard Website

Hi Bogleheads, I'm determining what bond fund I'll use in my taxable account and I'm having a tough time making sense of the after-tax returns listed on the Vanguard website. The general rule of thumb for when to use muni-bond funds rather than Total Bond seems to be when you're in the 25% or someti...
by neolk171
Mon May 29, 2017 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp Distribution Taxes Timing
Replies: 4
Views: 800

S Corp Distribution Taxes Timing

I am the sole owner of an S corp and I'm about to pay a distribution to my self in an amount greater than $10,000. When are the taxes on this distribution due? Am I required to pay them immediately, at the end of the quarter, or can I pay them with my annual return?
by neolk171
Fri Jan 13, 2017 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Schedule K-1 on Undistributed Profit in S-corp - Possible TurboTax Error
Replies: 7
Views: 956

Re: Schedule K-1 on Undistributed Profit in S-corp - Possible TurboTax Error

When preparing a tax return, if you don't understand the reason for a question being asked by the tax program, you should not assume it is a program error. While the amount distributed does not affect the taxable income on the K-1, the amount distributed does go on line 16 (code D) of the K-1 as an...
by neolk171
Fri Jan 13, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Schedule K-1 on Undistributed Profit in S-corp - Possible TurboTax Error
Replies: 7
Views: 956

Schedule K-1 on Undistributed Profit in S-corp - Possible TurboTax Error

I am doing my taxes using Turbo Tax Business 2016 and I've come across what appears to be an error in the software. I am the sole shareholder of an S-corp that had a profit in 2016. These profits were not distributed though, they were retained by the company. As such, I need to create a K-1 form for...
by neolk171
Wed Jan 11, 2017 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Form 941 - Confusion Regarding 'Balance Due' Field
Replies: 2
Views: 364

IRS Form 941 - Confusion Regarding 'Balance Due' Field

Howdy, I am the sole owner of an S-corp and its only employee is myself. In the fourth quarter of 2016, my gross salary was $25,000. I have filled out a Form 941 however the 'Balance Due' field is confusing me. Here is a screenshot with the values filled out: http://prnt.sc/due80f The form is saying...