Search found 8 matches

by omega
Mon Apr 17, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: is it too late for backdoor roth?
Replies: 7
Views: 496

Re: is it too late for backdoor roth?

Thanks rudd. To be clear, I can file 8066 next year even though the contribution is for 2016. Is this correct?
by omega
Mon Apr 17, 2017 9:34 am
Forum: Personal Finance (Not Investing)
Topic: is it too late for backdoor roth?
Replies: 7
Views: 496

Re: is it too late for backdoor roth?

Thank you all for the quick reply. I just transferred the money (5500 USD) to traditional IRA and will convert to Roth in few days. I have question regarding filing Form 8606. Should I file this immediately or wait until the Roth conversion? Also, is there any online submission for this? Thanks agai...
by omega
Mon Apr 17, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: is it too late for backdoor roth?
Replies: 7
Views: 496

is it too late for backdoor roth?

I recently learned about backdoor roth IRA. We have already filled our tax return for 2016. Is it too late for us to do backdoor roth IRA for the year 2016?

Thanks for your inputs!
by omega
Tue Apr 11, 2017 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford private school tuition
Replies: 42
Views: 3160

Re: Can we afford private school tuition

Thank you all for taking the time to think and respond to my post. Some things I would like to clarify is - We currently do not own a home and are renting. Based upon our decision on what school to send kid no. 1, we will decide on the town to buy. We have a very good magnet school in our county and...
by omega
Tue Apr 11, 2017 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford private school tuition
Replies: 42
Views: 3160

Can we afford private school tuition

My husband and I are going to enter our 40s very soon and we have recently started making a combined income of about $300K. We live in a high cost of living area and have 2 kids 9 and 4. We have not been very financially savvy but also never thought we spent a lot of money. Sometime in the recent pa...
by omega
Fri Mar 31, 2017 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Tax question
Replies: 18
Views: 1460

Tax question

I moved from the west to east coast early last year for a job. My husband used a relocation company to plan my move. They directly paid the relocation company and then added their cost to my income in my W2. They told me that they paid tax for that amount so it is a benefit for me tax-free. However,...
by omega
Fri Feb 17, 2017 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage fees- Is this reasonable?
Replies: 14
Views: 1496

Re: Mortgage fees- Is this reasonable?

Thank you all. It was my mistake skipping the title fee (3185) in the calculation and I now added it.

My broker told me that we would most likely getting the loan from Quicken.

I am thinking of checking with another agent/ bank for comparison purpose.
by omega
Thu Feb 16, 2017 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage fees- Is this reasonable?
Replies: 14
Views: 1496

Mortgage fees- Is this reasonable?

Hello all, First time home buyer here and currently looking to buy in NJ/NY area. Our budget is around 700K with 20% downpayment (140K). Loan is about 560K, 4.25% interest for 30 year loan We have a contacted a mortgage broker who quoted the following fees: Origination costs: None Third party fees: ...

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