Search found 5268 matches

by pshonore
Thu Apr 27, 2017 4:47 pm
Forum: Personal Consumer Issues
Topic: USAA 2.5% unlimited Cash back Card - Weird...
Replies: 29
Views: 3122

Re: USAA 2.5% unlimited Cash back Card - Weird...

I just got approved in about 90 seconds. Been a member for several years but this is my "first" product through USAA. Will probably switch my Auto to them next month. Now I have 90 days to arrange a Direct Deposit or the rewards drop to 1.5%. I'm doing an ACH from my Vanguard Money Market...
by pshonore
Thu Apr 27, 2017 2:52 pm
Forum: Personal Consumer Issues
Topic: USAA 2.5% unlimited Cash back Card - Weird...
Replies: 29
Views: 3122

Re: USAA 2.5% unlimited Cash back Card - Weird...

I just got approved in about 90 seconds. Been a member for several years but this is my "first" product through USAA. Will probably switch my Auto to them next month. Now I have 90 days to arrange a Direct Deposit or the rewards drop to 1.5%.
by pshonore
Thu Apr 27, 2017 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: How to report Box 10. Net Section 1231 Gain (Loss) from schedule K-1 to Form 4797?
Replies: 6
Views: 509

Re: How to report Box 10. Net Section 1231 Gain (Loss) from schedule K-1 to Form 4797?

If you made a complete disposition, thats fine. Don't forget you also deduct any losses carried over from prior years in Box 1 and Box 10 as long as you didn't apply then against income in those years.
by pshonore
Thu Apr 27, 2017 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Question on realized cap gain / estimated taxes
Replies: 16
Views: 603

Re: Question on realized cap gain / estimated taxes

Maybe it's more complicated than I thought! A little clarifying information -- the $4,100 is what Turbo Tax spit out. My total federal tax liability last year was around $55k and I had a few income events for which withholding wasn't done. I owed about 11k paid in April of this year. So, if I make ...
by pshonore
Thu Apr 27, 2017 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Retirement spreadsheet help (excel)
Replies: 11
Views: 596

Re: Retirement spreadsheet help (excel)

I am using Excel to do a retirement spread sheet and I really like the 'retirement planner' template that Microsoft has here https://templates.office.com/en-us/Retirement-financial-planner-TM04022385 The problem is I am not really knowledgeable about excel and I can't seem to modify it to have a di...
by pshonore
Thu Apr 27, 2017 8:57 am
Forum: Personal Consumer Issues
Topic: Hourly rate for carpenter?
Replies: 15
Views: 1563

Re: Hourly rate for carpenter?

are you paying them to do work for you as a homeowner or are you hiring them as employees? for a homeowner, the going rates in my city are about 2x what Saving$ posted As a homeowner. Need dry rot replaced. That can be a tough one as the extent of the job may not be known until "demo" is ...
by pshonore
Wed Apr 26, 2017 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: grandparent college loan options
Replies: 16
Views: 873

Re: grandparent college loan options

great ideas. I just remembered I have some 25 year old ee saving bonds. if used for education they are tax free. what websites can lead me to find unclaimed scholarships? book? I'm not positive but I don't think a grandparent can exclude ee bond interest (unless the student is the grandparent's dep...
by pshonore
Wed Apr 26, 2017 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Multiple acct Roth conversion/recharacterization strategy
Replies: 4
Views: 198

Re: Multiple acct Roth conversion/recharacterization strategy

Amended returns are not particularly difficult. And you can avoid them by asking for an extension until October for your return which coincides with the recharacterization deadline. Of course you must still pay any balance due by 4/15.
by pshonore
Wed Apr 26, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: grandparent college loan options
Replies: 16
Views: 873

Re: grandparent college loan options

great ideas. I just remembered I have some 25 year old ee saving bonds. if used for education they are tax free. what websites can lead me to find unclaimed scholarships? book? I'm not positive but I don't think a grandparent can exclude ee bond interest (unless the student is the grandparent's dep...
by pshonore
Tue Apr 25, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Is this a good long term care policy?
Replies: 11
Views: 626

Re: Is this a good long term care policy?

It depends on where you are. Typical nursing home is around $150K/yr in greater NY/NJ/CT. Will probably be $350-$400K in 2041. Other areas could be a little as half that. How long the policy pays can make a big difference as well.
by pshonore
Tue Apr 25, 2017 11:46 am
Forum: Personal Finance (Not Investing)
Topic: House sale to cover long term care expense
Replies: 5
Views: 759

Re: House sale to cover long term care expense

My neighbor across the street had to move to assisted living last year. Her kids then tried to sell the house. They could not get their asking price. So they decided to fix it up and now one of the kids lives there. I wonder how the mother is paying for the assisted living? I am glad your sale work...
by pshonore
Tue Apr 25, 2017 8:39 am
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 51
Views: 3498

Re: Issue With Real Estate Agent (Seller)

I hate to be blunt, but I think you're trying to justify your price to yourself rather than accept market feedback. As others have mentioned you need to reset your market expectations and if you think you have the yeild curve perfect consider renting it out for a period. When my wife and I purchase...
by pshonore
Tue Apr 25, 2017 8:31 am
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 51
Views: 3498

Re: Issue With Real Estate Agent (Seller)

You can negotiate the commission, but I would stick to offering full commission to the buyer's agent and only negotiating on the listing agent's commission. I am a first time home seller and I just listed my home, so take this with a grain of salt, but I was able to negotiate a 1.5% commission to t...
by pshonore
Mon Apr 24, 2017 3:40 pm
Forum: Personal Consumer Issues
Topic: Zero-Turn Mowers
Replies: 52
Views: 3279

Re: Zero-Turn Mowers

Thank you all for the responses! I ended up purchasing a Cub Cadet RZT L 46 inch mower. I went with this mower for a couple reasons. First, I was able to get a fabricated deck which was almost impossible to find at the price I wanted. The second is I liked the look and feel of the mower compared to...
by pshonore
Mon Apr 24, 2017 10:27 am
Forum: Personal Consumer Issues
Topic: Zero-Turn Mowers
Replies: 52
Views: 3279

Re: Zero-Turn Mowers

I've never had a ZT but I do have a big old Gravely Kohler walk behind 2 wheeler with a 50" mower deck out front. It has an optional steering brake which allows you to turn on a dime and makes handling a big machine much easier. However using the steering brake while backing up is not advised. ...
by pshonore
Mon Apr 24, 2017 8:51 am
Forum: Personal Consumer Issues
Topic: Buying weekend home: suburbs or rural? (yard privacy important)
Replies: 24
Views: 2067

Re: Buying weekend home: suburbs or rural? (yard privacy important)

We purchased along the CT shoreline. A lot of New Yorkers have weekend places up here. Initially we rented a place in the same town for several summer vacations. Eventually we bought a weekend place that backs up to a state beach and has unobstructed views of the Sound. There are also a lot of lake...
by pshonore
Mon Apr 24, 2017 8:20 am
Forum: Personal Consumer Issues
Topic: Comcast negotiations
Replies: 58
Views: 5970

Re: Comcast negotiations

Not Comcast, but Direct TV called a few weeks ago and offered to upgrade all my equipment for free AND a $25/month credit for 12 months if I agreed to a 12 month contract. I think lots of people are cutting the cable.
by pshonore
Sun Apr 23, 2017 12:15 pm
Forum: Personal Consumer Issues
Topic: USAA 2.5% unlimited Cash back Card - Weird...
Replies: 29
Views: 3122

Re: USAA 2.5% unlimited Cash back Card - Weird...

I've several USAA ads where relatives of members were allowed to join. Not sure how close the relative has to be but children of members, siblings, parents etc. probably qualify. Much simpler than Navy FCU. NFCU's requirements are much more flexible than USAA's. USAA membership is passed to spouses...
by pshonore
Sun Apr 23, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Considering Non-tangible Assets as Part of an Estate
Replies: 6
Views: 533

Re: Considering Non-tangible Assets as Part of an Estate

Gift cards squireled away in some drawer. Or e-gift cards. Can be registered in your name sometimes but likely not for a physical card.
by pshonore
Sun Apr 23, 2017 8:23 am
Forum: Personal Consumer Issues
Topic: USAA 2.5% unlimited Cash back Card - Weird...
Replies: 29
Views: 3122

Re: USAA 2.5% unlimited Cash back Card - Weird...

Credit card companies do weird things at times. About a year or so ago I was refreshing the wardrobe at TJ Maxx and since the purchase was going to be in the few hundred range decided I would take the additional 10% new card applicant discount beside my senior Monday discount. Did the appropriate p...
by pshonore
Sat Apr 22, 2017 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Does mom need estate planning?
Replies: 12
Views: 933

Re: Does mom need estate planning?

And by making you co-owner of assets, she may have eliminated 1/2 of the step-up in basis you would have gotten on some of those assets (residence, rental property, etc)
by pshonore
Sat Apr 22, 2017 12:57 pm
Forum: Personal Consumer Issues
Topic: Issue With Real Estate Agent (Seller)
Replies: 51
Views: 3498

Re: Issue With Real Estate Agent (Seller)

If your agent knows the property, can answer questions from a buyer, and can get feedback form other agents showing the property, then I see no compelling reason why she has to be present at showings. Has she done an Open House? That usually does not result in a sale but can sometime provide meaning...
by pshonore
Sat Apr 22, 2017 12:52 pm
Forum: Investing - Help with Personal Investments
Topic: IRA One-Rollover-Per-Year Rule
Replies: 6
Views: 381

Re: IRA One-Rollover-Per-Year Rule

Twice this year I did a trustee to trustee transfer from an old 401k to a Vanguard IRA. I still have money left in the old 401k and want to do a third transfer. I am confused on the IRA one-Rollover-Per-Year Rule. I think I am fine because it appears that trustee to trustee transfers do not apply b...
by pshonore
Sat Apr 22, 2017 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Mom's Universal Life Insurance – Keep or not?
Replies: 8
Views: 850

Re: Mom's Universal Life Insurance – Keep or not?

Is that the guaranteed premium or a projected premium. Those underfunded UL policies are notorious for huge increasing premiums. Ask for the guaranteed premium to age 100. Good point; it might be 1K this year and increase 10-15% every year. Best to get an in-force illustration from the company/agent.
by pshonore
Sat Apr 22, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: K-1 Distributions of Dividends
Replies: 13
Views: 908

Re: K-1 Distributions of Dividends

Dividends count toward gross income but as I said previously, you have to look at the Qual Dividends and Cap Gains worksheets to see how they're taxed
by pshonore
Fri Apr 21, 2017 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: K-1 Distributions of Dividends
Replies: 13
Views: 908

Re: K-1 Distributions of Dividends

What kind of a K1?? Trust, Partnership, S-Corp? Partnership dividends (the normal investment type) usually show up in 6a and 6b so its probably not one of those. Generally, dividends passed through are taxed at your rate and if you're in the 15% bracket, there should be no tax if they're qualiifed....
by pshonore
Fri Apr 21, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: K-1 Distributions of Dividends
Replies: 13
Views: 908

Re: K-1 Distributions of Dividends

Probably because all the ordinary dividends were considered to be qualified. Qualified dividends are a subset. Normally a small percentage is not due to holding period, foreign origin, etc. Your tax software will figure it out If that is the case, why would I have to pay income tax on it since I am...
by pshonore
Fri Apr 21, 2017 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: K-1 Distributions of Dividends
Replies: 13
Views: 908

Re: K-1 Distributions of Dividends

Probably because all the ordinary dividends were considered to be qualified. Qualified dividends are a subset. Normally a small percentage is not due to holding period, foreign origin, etc. Your tax software will figure it out
by pshonore
Fri Apr 21, 2017 8:42 am
Forum: Investing - Help with Personal Investments
Topic: Quick Dividend Automatic Reinvesting Question
Replies: 6
Views: 688

Re: Quick Dividend Automatic Reinvesting Question

tchasteen wrote:Thanks Bertilak and Alex,

I hadn't realized that dividends were not included in total value of the market.

I appreciate the link Derby!
They are however included in the performance figures of "market" ETFs like IVV and VOO which track the S&P 500 and Mutual funds as well (VFIAX)
by pshonore
Thu Apr 20, 2017 5:20 pm
Forum: Personal Consumer Issues
Topic: Costco battery replacement possible after a year and half?
Replies: 11
Views: 972

Re: Costco battery replacement possible after a year and half?

Funny, I just bought a battery today and was told to photocopy the receipt. If the original receipt fades (normal these days), the start date will be the date of manufacture (which could by 6 or 7 months ago depending on where you buy it.)
by pshonore
Thu Apr 20, 2017 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Keep Mortgaged Home For Rental Property - Equity In ROI?
Replies: 14
Views: 1100

Re: Keep Mortgaged Home For Rental Property - Equity In ROI?

David Jay wrote:No capital gains on a primary residence.
Sure there are but only if you have a net gain of more than 500K (MFJ status) including any gains "postponed" when that was allowed.
by pshonore
Thu Apr 20, 2017 2:35 pm
Forum: Investing - Help with Personal Investments
Topic: How to Handle Taxes on One Time Windfall (sale)
Replies: 13
Views: 951

Re: How to Handle Taxes on One Time Windfall (sale)

I own a share of a limited partnership that is selling its major asset. In about a week I will be receiving funds and will incur about a $220K long term gain. Any suggestions on how to deal with the taxes to avoid penalties? I have read about the "safe harbor" provision for estimating tax...
by pshonore
Thu Apr 20, 2017 10:32 am
Forum: Personal Consumer Issues
Topic: Fidelity card 2% but NOT as statement credit
Replies: 27
Views: 2533

Re: Fidelity card 2% but NOT as statement credit

I also get periodic offers from Fido CC of an extra 1% for up to 2K of purchase during a certain period (60 days before XMAS, from March 1 to May 1, etc. Its getting difficult to remember all that stuff.
by pshonore
Thu Apr 20, 2017 10:29 am
Forum: Personal Consumer Issues
Topic: Fidelity card 2% but NOT as statement credit
Replies: 27
Views: 2533

Re: Fidelity card 2% but NOT as statement credit

Believe USAA has a new 2.5% rewards (on all purchases) credit card . Only requirement is a free USAA checking account with 1 direct deposit of 1K each /month (SS, payroll, pension, etc)
by pshonore
Thu Apr 20, 2017 10:22 am
Forum: Personal Consumer Issues
Topic: Return Fraud at Big Box and "The Retail Equation"
Replies: 19
Views: 2399

Re: Return Fraud at Big Box and "The Retail Equation"

HD has a new policy; if you get a store credit you must show driver's license. When using that store credit you must show the same license. Should not be a problem for honest folks but will not allow the bad guys to "sell" the store credit.
by pshonore
Thu Apr 20, 2017 9:21 am
Forum: Investing - Theory, News & General
Topic: Visualizing the devastating impact of fees
Replies: 54
Views: 4817

Re: Visualizing the devastating impact of fees

There is one major distortion in the way this data is presented and labeled in the graph. In a case where 10K was invested at 10% with no advisor, the investor winds up with approx 452K after 40 years. If the advisor got 2%, the investor winds up with 239K and the advisor nets 56K. Still outrageous...
by pshonore
Thu Apr 20, 2017 8:43 am
Forum: Investing - Theory, News & General
Topic: Visualizing the devastating impact of fees
Replies: 54
Views: 4817

Re: Visualizing the devastating impact of fees

There is one major distortion in the way this data is presented and labeled in the graph. In a case where 10K was invested at 10% with no advisor, the investor winds up with approx 452K after 40 years. If the advisor got 2%, the investor winds up with 239K and the advisor nets 56K. Still outrageous ...
by pshonore
Thu Apr 20, 2017 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Does Insurance Have to Pay an Out-of-Network Ambulance Bill in Full?
Replies: 46
Views: 2805

Re: Does Insurance Have to Pay an Out-of-Network Ambulance Bill in Full?

None of this would be an issue if insurance companies paid reasonable rates to begin with. Everyone would want to be in-network. I'm sure insurance companies would love to pay "reasonable rates". However they're really just passing through premium dollars. A significant increase in payout...
by pshonore
Wed Apr 19, 2017 1:30 pm
Forum: Personal Consumer Issues
Topic: Mens Blue Jeans - What are we buying now?!
Replies: 86
Views: 7796

Re: Mens Blue Jeans - What are we buying now?!

I wear a no name brand because I bought a few hundred pair on closeout for $1.05 a pair. Triple stitched heavy duty denim from when a hardware supplier stupidly thought they'd make a splash into clothing, and they got burned badly. At least I came out smelling like a rose :D Other than that, Carhar...
by pshonore
Wed Apr 19, 2017 1:25 pm
Forum: Personal Consumer Issues
Topic: Dehumidifier behind basement vapor barrier
Replies: 7
Views: 606

Re: Dehumidifier behind basement vapor barrier

Doesn't rigid foam board require a fire resistant barrier to cover it? When we built 30 years ago, we put foam board on the outside foundation (below grade) for the insulation value which is probably minimal. We also put 1" foil faced foam board on the 2X4 studs under sheetrock to get the equiv...
by pshonore
Wed Apr 19, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Royalty income and calculating retirement contributions
Replies: 6
Views: 548

Re: Royalty income and calculating retirement contributions

Here's what Forbes says: https://www.forbes.com/sites/kellyphillipserb/2014/04/01/taxes-from-a-to-z-2014-r-is-for-royalties/#14d884701c54 Royalties are funny things. Generally, we associate royalties with music - and sometimes books. But royalties are bigger than books and music: they are payments f...
by pshonore
Wed Apr 19, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Royalty income and calculating retirement contributions
Replies: 6
Views: 548

Re: Royalty income and calculating retirement contributions

Some royalties almost always go on Sched E like oil and gas royalties, but others like publishing royalties can sometimes go on Sched C (and be eligible for retmt plan contributions if there's net profit). Give us more detail.
by pshonore
Tue Apr 18, 2017 5:57 pm
Forum: Investing - Help with Personal Investments
Topic: Did I screw up by depleting my Roth instead of taking form Solo 401k?
Replies: 4
Views: 643

Re: Did I screw up by depleting my Roth instead of taking form Solo 401k?

There are no capital gains in pre- or post-tax retirement accounts including IRAs. Every dollar is taxed the same going into Roth or coming out of traditional IRAs. It appears you took a distribution before age 59.5 or a Roth has not been open 5 years. (I hope there is still some money in the Roth....
by pshonore
Tue Apr 18, 2017 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Did anything surprise you in your 2016 taxes?
Replies: 82
Views: 6477

Re: Did anything surprise you in your 2016 taxes?

Our household income was $66,000. We paid over $5,000 in federal income tax. My brother-in-law's household income was $89,000. He paid only $500 in federal income tax. Both figures include the amount paid over the course of the year plus the amount paid in April (or minus the refund). Surprised me....
by pshonore
Tue Apr 18, 2017 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Did anything surprise you in your 2016 taxes?
Replies: 82
Views: 6477

Re: Did anything surprise you in your 2016 taxes?

Our taxes were almost exactly as I'd calculated them in February of last year. We're a solidly middle-class, one-income family with kids. It's a fairly plain jane situation. Some clients had more SS withheld than necessary because of last minute overtime shifts, so they got a surprisingly higher re...
by pshonore
Tue Apr 18, 2017 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Did anything surprise you in your 2016 taxes?
Replies: 82
Views: 6477

Re: Did anything surprise you in your 2016 taxes?

My speculative investments made nearly zero the first 6 months, but had big gains in the 4th quarter. I made estimated payments in Q4, but only enough to get to 90% of taxes due. But apparently my accountant thinks I owe some penalties because the estimated payments weren't even throughout the year...
by pshonore
Tue Apr 18, 2017 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of stuff would you never DIY, assuming you could?
Replies: 75
Views: 5786

Re: What kind of stuff would you never DIY, assuming you could?

Replace the roof shingles on my two story house. But I have painted the house more than a few times.
by pshonore
Tue Apr 18, 2017 1:25 pm
Forum: Investing - Theory, News & General
Topic: What is the max SS income you could receive this year?
Replies: 38
Views: 4224

Re: What is the max SS income you could receive this year?

The answer is NO. You can go out to the SS website and the see maximum benefit for people who reach FRA in any given year. Its different every year. As an example for 2012 - 2015, the numbers are 2513, 2533, 2642 and 2663
by pshonore
Tue Apr 18, 2017 11:50 am
Forum: Personal Consumer Issues
Topic: Is my electric bill high?
Replies: 60
Views: 5236

Re: Is my electric bill high?

It looks like you have both a consumption and cost issue. On the consumption side I've found that if you truly are operating the pump only 6-8 hours per day it seems most likely you are using about 300-500 kwh for it. You can get a Kill-A-Watt device to verify but can also look at setting a timer f...
by pshonore
Tue Apr 18, 2017 10:30 am
Forum: Personal Consumer Issues
Topic: Is my electric bill high?
Replies: 60
Views: 5236

Re: Is my electric bill high?

Average about $95 (500 Kw) per month in Central CT - little higher in Dec/Jan when oil burner is running and July/Aug when Central Air is on. Oil fired heat and HW, electric stove and dryer. My bill dropped about 10% when I replaced my Plasma TV, and outdoor lighting, etc with LEDs. 2400 sq ft Colon...

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