Search found 4593 matches

by pshonore
Tue Sep 27, 2016 1:09 pm
Forum: Investing - Help with Personal Investments
Topic: New to HSA and contribution limits
Replies: 6
Views: 448

Re: New to HSA and contribution limits

Note that if you contribute the max for this year and do not stay eligible for all of next year (by having an HDHP plan) you may have to pay some money back.
by pshonore
Tue Sep 27, 2016 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Comcast incorrectly told us there was an internet line - now what?
Replies: 33
Views: 1342

Re: Comcast incorrectly told us there was an internet line - now what?

Do you have a landline? If not, could you get one? Who provides it? Is DSL an option?.
by pshonore
Mon Sep 26, 2016 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes [withholding vs. estimated payments]
Replies: 15
Views: 823

Re: Taxes

Come tax time, if you owe taxes, there is a likelihood that you will need to pay a penalty in addition to the taxes owed. There are a some exceptions to this, a couple of them being (IIRC): a) your tax withholding this year exceeded your total tax paid last year b) your tax withholding is more than...
by pshonore
Mon Sep 26, 2016 11:58 am
Forum: Investing - Theory, News & General
Topic: Convert TIRA to Existing Roth IRA
Replies: 5
Views: 463

Re: Convert TIRA to Existing Roth IRA

Sounds good to me. You probably should "model" this in tax software and play with various scenarios. Converting 50K per year may put you in a higher tax bracket or not depending on other income, filing status (single or mfj, etc.) and deductions. Of course going 1K into a higher bracket is...
by pshonore
Mon Sep 26, 2016 9:39 am
Forum: Investing - Theory, News & General
Topic: Christine's article today on RMD's...a question to bogleheads
Replies: 22
Views: 2041

Re: Christine's article today on RMD's...a question to bogleheads

You can give up to 100K in a QCD as part of your RMD. Can you itemize 100K as a contribution without running into limits?
by pshonore
Mon Sep 26, 2016 8:24 am
Forum: Personal Consumer Issues
Topic: TV question
Replies: 8
Views: 554

Re: TV question

The good to come of this was the new TV was bigger (42 to 50 inches), cheaper ($1200 to $500), and lighter (at least 50% of the previous TV). That's the good news; the bad news is the new Smart TVs are more difficult to set up than the older models. I just installed a new Samsung last week. The new...
by pshonore
Mon Sep 26, 2016 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Relocating from place with no state tax to a place with state tax
Replies: 9
Views: 1148

Re: Relocating from place with no state tax to a place with state tax

A lot of the states will figure your tax for a part year resident on your total income. Then they will ratio that tax by the amount of income allocated/earned in their particular state. You earned 40K in FL, move to CO and earn/allocate 60K. CO will figure your tax on 100K of income and charge you 6...
by pshonore
Sat Sep 24, 2016 3:38 pm
Forum: Personal Consumer Issues
Topic: New Garage Doors
Replies: 16
Views: 1638

Re: New Garage Doors

Two items. Consider the 2" thick doors with greater insulation. Also consider replacing the existing roller guide frame. There is a good chance that it is not really straight. The garage door installer can advise you on the need for this, but of course he is likely to err on the side of replac...
by pshonore
Sat Sep 24, 2016 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Roth distribution conflicting information [how much is taxable]
Replies: 9
Views: 871

Re: Roth distribution conflicting information [how much is taxable]

Note there is a difference between a Roth 401K and a Roth IRA.

For a Roth IRA, here is what fairmark.com says:

"Withdrawals of earnings are tax-free if you’re over age 59½ and at least five years have expired since you established your Roth IRA."
by pshonore
Sat Sep 24, 2016 9:46 am
Forum: Personal Consumer Issues
Topic: Trader Joe's Fans - good value?
Replies: 88
Views: 6707

Re: Trader Joe's Fans - good value?

I like Trader Joe's and if there were one a little closer to us I'd shop there more often. I do have a question, though. When I shop at Trader Joe's I have the impression that, within reason, you name it, they have it--but only one kind , never a choice. Is that your impression, too? If so, is that...
by pshonore
Sat Sep 24, 2016 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Automobile in irrevocable trust to limit liability
Replies: 33
Views: 1699

Re: Automobile in irrevocable trust to limit liability

Suppose the "loanee" only had 20K of Liability? I think what happens is everyone gets sued and the courts and lawyers sort it out. Generally, if you have insurance, your insurer will defend you in most cases. If they don't, just the legal costs could be onerous even if you're not at fault
by pshonore
Sat Sep 24, 2016 9:00 am
Forum: Personal Consumer Issues
Topic: 100 Things Not Worth a Penny
Replies: 32
Views: 2456

Re: 100 Things Not Worth a Penny

Scott's grass seed. Looked at a 3 lb bag a few days ago. By weight, Its 50% seed and 50% of a coating to help hold water, etc. And I don't think it germinates any better.
by pshonore
Sat Sep 24, 2016 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Automobile in irrevocable trust to limit liability
Replies: 33
Views: 1699

Re: Automobile in irrevocable trust to limit liability

This may vary by state law. We asked our attorney who should own our cars. She said that ownership did not matter. In our state the liability goes to the driver, not the owner. YMMV So if you lend your car to someone who has no insurance (they don't own a car), and there's an accident you don't thi...
by pshonore
Fri Sep 23, 2016 3:21 pm
Forum: Personal Consumer Issues
Topic: New Garage Doors
Replies: 16
Views: 1638

Re: New Garage Doors

The galvanized steel is quite thin and can be stamped with designs, (I forget the gauge) and is not meant for security. I've had something similar for more than 10 years and they look like the day they were installed including the paint. Lowes and HD probably have similar items on display. http://ww...
by pshonore
Fri Sep 23, 2016 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Automobile in irrevocable trust to limit liability
Replies: 33
Views: 1699

Re: Automobile in irrevocable trust to limit liability

And wouldn't the trustee who ok's a "loan" (to you or others) be liable?
by pshonore
Thu Sep 22, 2016 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: Need replacement tax software that handles K-1's
Replies: 2
Views: 317

Re: Need replacement tax software that handles K-1's

I'm surprised that Turbo Tax will not allow "mail-ins" next year. Is it related to XP? Download vs online? Or is it because of new IRS regs or fraud prevention? If so, perhaps other retail software may not allow them either. In any case, Tax Act does handle MLP K1 forms although I think TT...
by pshonore
Thu Sep 22, 2016 2:53 pm
Forum: Investing - Theory, News & General
Topic: Help understanding the attraction to W & W [Wellington/Wellesley]
Replies: 38
Views: 3816

Re: Help understanding the attraction to W & W [Wellington/Wellesley]

Might have something to do with Wellesley's almost 10% (9.94% to be exact) average annual return over 46 years. Of course, past returns are no indicator of the future. Also, that was achieved during the long bull market in Bonds. I'm not sure that will continue but I sure hope it does.
by pshonore
Thu Sep 22, 2016 1:32 pm
Forum: Personal Consumer Issues
Topic: Companion Dogs for an older person
Replies: 42
Views: 2716

Re: Companion Dogs for an older person

Go to the AKC website (wwww.akc.org) and find a Labrador club in you area. They will be happy to connect you with Lab rescue.
by pshonore
Thu Sep 22, 2016 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Starting a small business- Tax questions
Replies: 8
Views: 695

Re: Starting a small business- Tax questions

Thanks in advance for any help you can provide! 1) My husband and I are getting ready to start a small business and we should be up and running in January of 2017. However, most of our start up expenses are incurred this tax year. How do I deduct 2016 expenses? Would I file a schedule C for this ye...
by pshonore
Thu Sep 22, 2016 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Contribution to satisfy RMD
Replies: 29
Views: 1998

Re: Contribution to satisfy RMD

Hold on, what's the tax benefit of the QCD? With it, the withdrawl of IRA funds goes on line 15a. Without it, the withdrawal of IRA funds becomes part of gross income, but offset by the charitable deduction. Is it all the same, for those itemizing anyway? If you pay state income tax based on your f...
by pshonore
Wed Sep 21, 2016 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Stay a 1099 contractor or incorporate?
Replies: 18
Views: 1387

Re: Stay a 1099 contractor or incorporate?

I'm a 1099 contractor making ~$50k a year, which is pretty much fixed, as I don't own a business that I plan to grow or anything like that. I've talked to an accountant who seems eager to have me incorporate because he says I'll save more money on taxes. I always thought it was a good idea to open ...
by pshonore
Wed Sep 21, 2016 10:37 am
Forum: Personal Consumer Issues
Topic: Spare Tire Replacement
Replies: 17
Views: 1072

Re: Spare Tire Replacement

I thought the safety guidelines strongly recommend not using tires over 8 years old. The date of manufacture is clearly stamped on the tire (not sure about 2001 though). I'd bet Discount Tire's Workers Comp insurer has told them that. Exploding tires (although usually not passenger car tires) are a ...
by pshonore
Wed Sep 21, 2016 7:32 am
Forum: Investing - Help with Personal Investments
Topic: IRA contribution limit for self-employed people with multiple businesses
Replies: 7
Views: 399

Re: IRA contribution limit for self-employed people with multiple businesses

I believe you'd need to have positive net compensation on your 1040 (W2 income on 1040 line 7, Schedule C income on 1040 line 12). According to IRS Pub 590A which covers Traditional and Roth IRA, if you have a mix of W-2 salary/wage and self employed income, you do not subtract self employed loss f...
by pshonore
Sun Sep 18, 2016 3:27 pm
Forum: Personal Consumer Issues
Topic: New hollow core door or shorten the one I have?
Replies: 26
Views: 1392

Re: New hollow core door or shorten the one I have?

Putting together other's ideas: rent a belt sander. Certainly buying a new door would just give you the same issue again although it's be a bigger strip to cut. Ever try to use a belt sander when turning it 90 degrees? Not fun. (unless you can figure how to get the door bottom facing up). Go to HD,...
by pshonore
Sun Sep 18, 2016 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Definition of gambling winnings/losses
Replies: 20
Views: 801

Re: Definition of gambling winnings/losses

From the IRS link: Gambling income includes but is not limited to winnings from lotteries, raffles, horse races, and casinos. It includes cash winnings and the fair market value of prizes, such as cars and trips. Thanks. This leads me to believe the losses are deductible since it was a cash winning...
by pshonore
Sun Sep 18, 2016 12:50 pm
Forum: Personal Consumer Issues
Topic: New hollow core door or shorten the one I have?
Replies: 26
Views: 1392

Re: New hollow core door or shorten the one I have?

... A plane can be used while a circular saw might be less work and more certain to give a clean, straight, and square result. You can guide a circular saw by clamping a board or metal stock to the door... OP said he doesn't have power tools and isn't very accomplished in them. But I suppose he cou...
by pshonore
Sun Sep 18, 2016 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Definition of gambling winnings/losses
Replies: 20
Views: 801

Re: Definition of gambling winnings/losses

Do you have some kind of written doc on the losses? Losing tickets, players card results, etc?
by pshonore
Sun Sep 18, 2016 8:34 am
Forum: Personal Consumer Issues
Topic: Sawzall and Batt Operated tools questions?
Replies: 25
Views: 1080

Re: Sawzall and Batt Opertated tools questions?

The important thing when cutting is the amount of "set" in the blade. A good handsaw has each alternating tooth slightly bent left or right. This creates clearance and allows the sawdust to clear the cut and reduce binding. A chainsaw by definition cuts a large groove so set is not as impo...
by pshonore
Sat Sep 17, 2016 6:54 am
Forum: Investing - Help with Personal Investments
Topic: MAGI vs Recharacterization
Replies: 10
Views: 668

Re: MAGI vs Recharacterization

I agree; I always convert into a new Roth. And its very easy to figure profit and loss that way. But the IRS thinks you only have one large IRA regardless of whether you have 1 or 100 accounts when talking about re-converting Just checked with the retirement specialist at Fidelity and he re-confirm...
by pshonore
Fri Sep 16, 2016 7:17 am
Forum: Personal Finance (Not Investing)
Topic: RMD's Requirements with Jan or July Birthdays
Replies: 5
Views: 525

Re: RMD's Requirements with Jan or July Birthdays

"Example: You are retired and your 70th birthday was July 1, 2013. You reached age 70½ on January 1, 2014. You do not have an RMD for 2013. You must take your first RMD (for 2014) by April 1, 2015." This looks pretty straight forward. I'm July 8 so looks like we get an extra year before m...
by pshonore
Thu Sep 15, 2016 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Condo Assessment - Insurance Coverage?
Replies: 9
Views: 517

Re: Condo Assessment - Insurance Coverage?

11 years. We (the association) have some suspicious about poor quality construction on the roof and siding issues, but the original builder is long out of business. Then the association isn't good at doing their job. It doesn't matter if the contractor is out of business, the contractor still had i...
by pshonore
Thu Sep 15, 2016 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Will Medicare take away my Social Security?
Replies: 18
Views: 1936

Re: Will Medicare take away my Social Security?

OP, you failed to do your research. Medicare Part B premiums were $88.50 in 2006 so they have increased a grand total of $33.30/month over the past decade. The sky is not falling. Actually they would have increased by substantially more last year for those not in the "hold-harmless group"...
by pshonore
Thu Sep 15, 2016 4:02 pm
Forum: Personal Consumer Issues
Topic: How to fix doors that don't close after new carpet installation
Replies: 36
Views: 2457

Re: How to fix doors that don't close after new carpet installation

Make friends with someone who has a table saw. Thats what I do. Otherwise, find a good handyman. They are worth their weight in gold. Pretty hard to run a door through a (home shop) table saw safely ... Right. I don't know how you could do that except on industrial size equipment. I have done it us...
by pshonore
Thu Sep 15, 2016 3:53 pm
Forum: Investing - Help with Personal Investments
Topic: MAGI vs Recharacterization
Replies: 10
Views: 668

Re: MAGI vs Recharacterization

Again, as I understand it (and if I'm wrong I hope someone will jump in), the IRS doesn't care what you convert, be it mutual funds shares, individual equities, bonds or cash, etc. They care about $. Symbols don't count. . . . Yes, the symbols do not matter, but the individual accounts do. If you c...
by pshonore
Thu Sep 15, 2016 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: An example of the value of a liability umbrella policy
Replies: 22
Views: 2382

Re: An example of the value of a liability umbrella policy

These situations are rare but they do happen and the consequences could be catastrophic to a financial plan. Stuff happens and it usually comes out of the blue. If you've got sizeable assets umbrella coverage is the only way to go. The premiums are reasonable. Personal injury attorneys are always b...
by pshonore
Thu Sep 15, 2016 12:26 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterization and RMDs
Replies: 4
Views: 383

Re: Recharacterization and RMDs

Just got off the phone with Fido. They advised to add the amount recharacterized (which includes a loss) to my 12/31 balances. The original conversion was to a new Roth account. I think it would be more correct to add the 12/31/15 Roth balance but the Fido rep said Pub 590 says to use the recharact...
by pshonore
Thu Sep 15, 2016 12:09 pm
Forum: Investing - Help with Personal Investments
Topic: Recharacterization and RMDs
Replies: 4
Views: 383

Re: Recharacterization and RMDs

Just got off the phone with Fido. They advised to add the amount recharacterized (which includes a loss) to my 12/31 balances. The original conversion was to a new Roth account. I think it would be more correct to add the 12/31/15 Roth balance but the Fido rep said Pub 590 says to use the recharacte...
by pshonore
Thu Sep 15, 2016 11:04 am
Forum: Investing - Help with Personal Investments
Topic: MAGI vs Recharacterization
Replies: 10
Views: 668

Re: MAGI vs Recharacterization

Very true, but plan A is to do it all again in 2017. The IRS says that you can’t re-convert a recharacterized position until the later of 30 days after the recharacterization or the year following the year of the conversion. Not sure exactly what that means, but I assume that the year following the...
by pshonore
Thu Sep 15, 2016 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard QCD Checks [Qualified Charitable Distributions]
Replies: 38
Views: 2069

Re: Vanguard QCD Checks [Qualified Charitable Distributions]

Good question. Since the funds are going directly to the charity (via the Custodians bank) I would think its ok but you're correct that the IRS makes the final decision. One advantage of that method is you will see when the check is checked (via a debit to your account) although technically an ackno...
by pshonore
Thu Sep 15, 2016 9:56 am
Forum: Personal Finance (Not Investing)
Topic: What is a Qualifying Widow(er)?
Replies: 2
Views: 205

Re: What is a Qualifying Widow(er)?

What does Pub 17 say?
by pshonore
Thu Sep 15, 2016 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard QCD Checks [Qualified Charitable Distributions]
Replies: 38
Views: 2069

Re: Vanguard QCD Checks [Qualified Charitable Distributions]

One can write a check on the IRA's settlement fund. That is an IRA account. You send the check to the charity who (hopefully :wink: ) deposits it. That is a legit QCD. The nice thing is, you can look at the IRA and watch the check clear. Oh, these have to be for at least $250. RudyS, Do you have a ...
by pshonore
Thu Sep 15, 2016 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Figuring out a price to offer on a house...
Replies: 39
Views: 3024

Re: Figuring out a price to offer on a house...

There is a huge difference between "below ground" square feet and a walk-out fully finished "basement". A walk out can be totally usable provided the ceilings are full height and windows, doors, the same. Only negative I felt (I have a walk out) is that the concrete shell that f...
by pshonore
Thu Sep 15, 2016 8:49 am
Forum: Investing - Help with Personal Investments
Topic: MAGI vs Recharacterization
Replies: 10
Views: 668

Re: MAGI vs Recharacterization

Yes, but then we would have to re-file extended returns and give the IRS another chance and reason to look at our returns again! If we make our decisions on what to recharacterize before the end of the year, all of the year end tax filings will be correct as originally filed. Also, not sure what di...
by pshonore
Thu Sep 15, 2016 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Personal liability claim via homeowners? What's the process like?
Replies: 7
Views: 841

Re: Personal liability claim via homeowners? What's the process like?

Everyone needs a 1MM umbrella. And take a look at "Medical payments" coverage. Its often cheap, and pays out for injuries without the injured party needing to sue you. "Medical payments" coverage is usually included on a standard HO policy at no additional charge. The reason it'...
by pshonore
Thu Sep 15, 2016 8:10 am
Forum: Investing - Help with Personal Investments
Topic: Recharacterization and RMDs
Replies: 4
Views: 383

Recharacterization and RMDs

Fido website tracks my RMD and tells me how much I have remaining based on my holdings there. I did some recharacterizations of 2015 conversions in 2016. this year. My understanding is I should add the those amounts recharacterized to my 12/31/15 balances to determine my 2016 RMD. The calculation on...
by pshonore
Thu Sep 15, 2016 8:00 am
Forum: Investing - Help with Personal Investments
Topic: MAGI vs Recharacterization
Replies: 10
Views: 668

Re: MAGI vs Recharacterization

I think you have until Oct 15, 2017 to make the decision.
by pshonore
Thu Sep 15, 2016 7:58 am
Forum: Personal Consumer Issues
Topic: How to fix doors that don't close after new carpet installation
Replies: 36
Views: 2457

Re: How to fix doors that don't close after new carpet installation

A good, sharp handsaw is also a solution. Apply masking or blue painters tape to both sides of the door. Use a straightedge to mark a pencil line as a guide. What kind of door is it? (Hollow core Luan, 6 panel solid wood, composite, etc.) You can also use a power tool like a small circular saw in wh...
by pshonore
Wed Sep 14, 2016 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard QCD Checks [Qualified Charitable Distributions]
Replies: 38
Views: 2069

Re: Vanguard QCD Checks

I spent my entire career in the charity world. EVERY contribution should receive an acknowledgement, no matter the size. The only acceptable explanation for not sending an acknowledgement is that the donor's name/address are unknown. I do not agree. If you include place/organizations of worship (or...
by pshonore
Wed Sep 14, 2016 7:36 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard QCD Checks [Qualified Charitable Distributions]
Replies: 38
Views: 2069

Re: Vanguard QCD Checks

Recently made some QCDs through Fido. They sent me the checks, I mailed them with a note requesting an acknowledgement. Two charities did not respond within 60 days. Sent an email to Fido explaining the problem and asking if the checks had been cashed. They got back to me the next day; both checks w...

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