Search found 4246 matches

by pshonore
Mon May 23, 2016 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Exclusivity and Real Estate Agents. Agree or Disagree?
Replies: 38
Views: 2360

Re: Exclusivity and Real Estate Agents. Agree or Disagree?

What she was recommending is standard procedure in a lot of large Brokerages. Have another agent handle the Buyer so there is some degree of separation between the Buyer and Seller. Once you demonstrated that you were a "sophisticated" buyer then the Broker would have no problem with the ...
by pshonore
Mon May 23, 2016 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Exclusivity and Real Estate Agents. Agree or Disagree?
Replies: 38
Views: 2360

Re: Exclusivity and Real Estate Agents. Agree or Disagree?

It was fine for the selling agent. I'd take that deal in a minute. :D She tried to claim she couldn't reduce the commission and to pawn me off on a different agent in her office to be "my agent." She didn't understand what I wanted, either because she was a part-time novice, or because &q...
by pshonore
Mon May 23, 2016 1:15 pm
Forum: Personal Consumer Issues
Topic: Building an enclosed breezeway
Replies: 9
Views: 747

Re: Building an enclosed breezeway

You may want to check with local zoning to see what is allowed for accessory structures. For example will there be a new kitchen in the converted garage? How about a bathroom? Do you have sewers or septic and how will it hook up (considering the grade, etc)? Where I live, a home gym is considered an...
by pshonore
Mon May 23, 2016 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Child Care [maximize deductible costs and tax credits]
Replies: 1
Views: 295

Re: Child Care [maximize deductible costs and tax credits]

Expecting a child in September so after maternity leave from wife will put into day-care / home-care (if we can find quality one) in January 2017. Is the only to efficient way to fund this is through an FSA? Combined contribution btw both of us is $5k? I know HSA doesn't allow funds directed toward...
by pshonore
Mon May 23, 2016 7:51 am
Forum: Personal Finance (Not Investing)
Topic: Exclusivity and Real Estate Agents. Agree or Disagree?
Replies: 38
Views: 2360

Re: Exclusivity and Real Estate Agents. Agree or Disagree?

It was fine for the selling agent. I'd take that deal in a minute. :D She tried to claim she couldn't reduce the commission and to pawn me off on a different agent in her office to be "my agent." She didn't understand what I wanted, either because she was a part-time novice, or because &q...
by pshonore
Fri May 20, 2016 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life Cash Value Question
Replies: 11
Views: 1488

Re: Whole Life Cash Value Question

This is how a policy owner can end up with a check from the insurance carrier for $1k (total cash minus loan balance), but also receive a 1099 showing taxable income much larger than $1k (gain at surrender). OMG, whole life is a bigger rip off than I thought. When I cashed out a whole life policy m...
by pshonore
Wed May 18, 2016 9:44 am
Forum: Personal Consumer Issues
Topic: Pottery Barn sofa - what fabric?
Replies: 20
Views: 12208

Re: Pottery Barn sofa - what fabric?

The last time I owned anything from PB was a while ago, but I find their price point to lack any real value proposition. Their stuff looks good, but is made of cheap materials, so it is neither here nor there. I would find either getting more expensive (real wood) furniture, or more inexpensive fur...
by pshonore
Tue May 17, 2016 9:19 pm
Forum: Personal Consumer Issues
Topic: garden hose
Replies: 29
Views: 1758

Re: garden hose

I bought quality rubber hoses at Sears which I think had a 25 year warranty (about 30 years ago). Rubber is still good but pinhole leaks developed in the brass fittings a few years back. Replaced the fittings and no more problem.
by pshonore
Tue May 17, 2016 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Hail damage on roof; what to do with Insurance Providers' $9,950 check
Replies: 51
Views: 3718

Re: Hail damage on roof; what to do with Insurance Providers' $9,950 check

Can't you cash the check and do nothing? Generally, if you collect on a claim and do nothing, they usually have the option of paying ACV (actual cash value) instead of replacement cost. (which for an older roof is not much). And if you still have a mortgage on the property, then checks should be pa...
by pshonore
Mon May 16, 2016 5:19 pm
Forum: Personal Consumer Issues
Topic: buying pet food online
Replies: 38
Views: 1571

Re: buying pet food online

pet360.com - good prices and free shipping (above $49). They even called the vet for Rx verification (Purina Prescription Diet)
by pshonore
Mon May 16, 2016 1:15 pm
Forum: Investing - Theory, News & General
Topic: Lesson learned (about Social Secuirty)
Replies: 17
Views: 2914

Re: Lesson learned (about Social Secuirty)

Mike, can a person who takes Social Security before 70 suspend anytime. For example could a person who takes SS at 62 but then 60 days later want to suspend their benefits, may they do that to collect DRC credits? How many times can this be done. If this is possible , seems like those that are on t...
by pshonore
Fri May 13, 2016 12:44 pm
Forum: Personal Consumer Issues
Topic: Need barest, skeleton, almost non-existent cell plan.
Replies: 22
Views: 1562

Re: Need barest, skeleton, almost non-existent cell plan.

Boost mobile $5 for 3 months.
by pshonore
Thu May 12, 2016 7:54 am
Forum: Personal Consumer Issues
Topic: Building a cabin
Replies: 11
Views: 1907

Re: Building a cabin

Floor and Siding is 1 X 8 shiplap (with router), posts are 4X4, top plates 4X6, floor joists and rim joists 2X8 PT from Home Depot Drew my own plan, building inspector ok'd it and issued permit. I'm unfamiliar with shiplap where I live (only saw out west). You said no sheathing, so I'm assuming the...
by pshonore
Wed May 11, 2016 8:55 pm
Forum: Personal Consumer Issues
Topic: Building a cabin
Replies: 11
Views: 1907

Re: Building a cabin

If you want to try it yourself, here's one I built a few years back using lumber from a local sawmill (no plywood). 12 X 18 with a full loft. Sits on pressure treated 6 X 6 skids. Total cost about $2500. http://www.eastconn.com/shed/shedside.JPG http://www.eastconn.com/shed/P1010011.JPG Is that jus...
by pshonore
Wed May 11, 2016 2:17 pm
Forum: Personal Consumer Issues
Topic: Building a cabin
Replies: 11
Views: 1907

Re: Building a cabin

If you want to try it yourself, here's one I built a few years back using
lumber from a local sawmill (no plywood). 12 X 18 with a full loft. Sits on pressure
treated 6 X 6 skids. Total cost about $2500.

http://www.eastconn.com/shed/shedside.JPG
http://www.eastconn.com/shed/P1010011.JPG
by pshonore
Wed May 11, 2016 1:19 pm
Forum: Personal Consumer Issues
Topic: Building a cabin
Replies: 11
Views: 1907

Re: Building a cabin

Have you looked at this one? These are basic, but so are the prices.

http://jamaicacottageshop.com/ They have tons of pre-fab models and also sell kits. Located in VT.

You may want to try Lamore Lumber in Deerfield Ma - http://www.post-beam.com/html/kits.html
by pshonore
Tue May 10, 2016 11:38 am
Forum: Personal Consumer Issues
Topic: Finishing Attic Space - Code Issue with Walkup Stairs
Replies: 20
Views: 2075

Re: Finishing Attic Space - Code Issue with Walkup Stairs

I expect things may get tougher in New England after the recent headlines about the tragic Christmas Eve fire in Stamford CT a few years back. Thats the one where they put fireplace ashes into a trashbag and left it inside an enclosed porch or mudroom or such, right? (tragically bad judgement on th...
by pshonore
Tue May 10, 2016 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA cannot deduct from Income tax
Replies: 43
Views: 2688

Re: Traditional IRA cannot deduct from Income tax

Depending on the total amount in the 401k, they may force her to roll it into an Ira. I think overall this might be a good thing, because in the long run she will be much better off in retirement with a Roth than with a traditional Ira. She probably meets the minimum, they don't force her out. I ju...
by pshonore
Tue May 10, 2016 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA cannot deduct from Income tax
Replies: 43
Views: 2688

Re: Traditional IRA cannot deduct from Income tax

Ok, so these money are after-tax money now. If she decides to convert this Trad into Roth IRA [it looks like the right decision], she will not be required to pay any taxes for this conversion, I would guess, right? She will pay no taxes on the $5500 but any "growth" will taxed when conver...
by pshonore
Tue May 10, 2016 10:28 am
Forum: Personal Consumer Issues
Topic: Any Woodturners?
Replies: 8
Views: 1235

Re: Any Woodturners?

You might want to try a local Woodcraft store (if you have one nearby) for a class. Or check with local high school Adult Education, etc. Taunton Press probably has videos. I think for plugs, it might easier to buy turned raw "blanks" online, unless you are really into turning. You'll need...
by pshonore
Tue May 10, 2016 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Car purchasing tax reciprocity with Massachusetts
Replies: 28
Views: 2922

Re: Car purchasing tax reciprocity with Massachusetts

Note that you will get a recurring hefty personal property "excise" tax bill from the city or town you register the car in Massachusetts. This is in addition to any sales tax and is initially high then decreases after the first few years. It is based on the MSRP of the car, multiplied by ...
by pshonore
Tue May 10, 2016 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA cannot deduct from Income tax
Replies: 43
Views: 2688

Re: Traditional IRA cannot deduct from Income tax

Ok, so these money are after-tax money now. If she decides to convert this Trad into Roth IRA [it looks like the right decision], she will not be required to pay any taxes for this conversion, I would guess, right? She will pay no taxes on the $5500 but any "growth" will taxed when conver...
by pshonore
Tue May 10, 2016 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA cannot deduct from Income tax
Replies: 43
Views: 2688

Re: Traditional IRA cannot deduct from Income tax

The $5500 is not deductible (assuming she doesn't meet the income limits) regardless when of she makes it, in January or December, since she unfortunately was an active participant in a retirement plan. But you are correct that money will not be taxed when she retires. (any earnings however will be ...
by pshonore
Tue May 10, 2016 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA cannot deduct from Income tax
Replies: 43
Views: 2688

Re: Traditional IRA cannot deduct from Income tax

If you're covered by a retirement plan (401K, etc) for even one day, you're considered covered for the entire year.
by pshonore
Tue May 10, 2016 9:00 am
Forum: Personal Consumer Issues
Topic: Finishing Attic Space - Code Issue with Walkup Stairs
Replies: 20
Views: 2075

Re: Finishing Attic Space - Code Issue with Walkup Stairs

If you think those stairs are tight you should come to my house. The stairs to my second floor are only about 26 inches wide, and that used to be an attic that was finished sometime in the 50s I think. I had to cut the platform of a full size bed in half and reassemble it to get the guest bedroom s...
by pshonore
Sun May 08, 2016 10:30 am
Forum: Investing - Help with Personal Investments
Topic: Don't need RMD for Trad IRA - Do a Roth conversion?
Replies: 19
Views: 939

Re: Don't need RMD for Trad IRA - Do a Roth conversion?

Does it make sense to pay 33-35% on a Roth conversion to avoid 25% on RMDs? Or 0% when she's in assisted living. 0% is a good rate for Roth conversions. Please explain as how being in assisted living has any affect on income tax rates. He's probably referring to the medical portion of assisted livi...
by pshonore
Sun May 08, 2016 8:03 am
Forum: Investing - Help with Personal Investments
Topic: Asset allocation for Roths set aside as part of an estate
Replies: 1
Views: 137

Re: Asset allocation for Roths set aside as part of an estate

I believe if your daughter inherits your Roth IRA, she'll have the same minimum required distributions as a Traditional IRA. The big difference is the distributions are usually tax free.
by pshonore
Sat May 07, 2016 8:51 am
Forum: Investing - Help with Personal Investments
Topic: How to liquidate silver bars
Replies: 15
Views: 1877

Re: How to liquidate silver bars

60 lbs of silver is roughly 1000 oz. That's about $17k, but you won't net that much if they are just bullion bars. It would only be $800k if there are some really collectible specific items in there. Precious metals are usually "transacted" in troy ounces. A troy oz is about 10% "hea...
by pshonore
Fri May 06, 2016 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare costs in retirement
Replies: 26
Views: 2800

Re: Healthcare costs in retirement

It is my understanding you can not use HSA funds to pay any healthcare premiums, per IRS Publication 969. You can claim health insurance premiums, including Medicare premiums, as a medical expense per IRS Publication 502. You can download current versions of both PDF's online. I know the Kiplinger'...
by pshonore
Fri May 06, 2016 8:14 am
Forum: Personal Consumer Issues
Topic: Roof (potential) issues and choices (past/present)
Replies: 29
Views: 3622

Re: Roof (potential) issues and choices (past/present)

He said no worry, the shingles I am putting on your roof are lifetime shingles....for you. (He meant...for my age) He probably meant that the shingles have a "lifetime" warranty. I just had my garage re-roofed (due to storm damage). the roofer used GAF shingles which are lifetime warranty...
by pshonore
Fri May 06, 2016 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement offers: limitations on employers?
Replies: 3
Views: 738

Re: Early retirement offers: limitations on employers?

I had a similar view as you, but I talked to someone who said the CEO at her company, during a discussion about upcoming layoffs, was asked whether they would consider relaxing an early retirement package so that more people would be eligible, and the answer was something to the effect, no, there a...
by pshonore
Thu May 05, 2016 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Healthcare costs in retirement
Replies: 26
Views: 2800

Re: Healthcare costs in retirement

Here are the rates and benefits for Connecticare, a big CT HMO. Note that you also pay whatever your Medicare Part B premium is as well. Dental is not included but is an optional additional coverage. forgot to include the link: http://www.connecticare.com/medicare/medicare-plans-compare.aspx As you ...
by pshonore
Wed May 04, 2016 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing Medigap Insurance
Replies: 23
Views: 1456

Re: Choosing Medigap Insurance

Hi gang. I'm approaching that magical age when I'll be eligible for Medicare. DH will follow a couple of months after me, but in a different calendar year. DH is still working and I/we can stay on his group health policy if I/we want to. However, he is considered self-employed and pays 100% of the ...
by pshonore
Wed May 04, 2016 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Should my Mom take a large distribution from her IRA before I inherit it?
Replies: 22
Views: 2319

Re: Should my Mom take a large distribution from her IRA before I inherit it?

One problem is a large IRA distribution or conversion may cause her otherwise likely untaxed Social Security to be taxed. As others have stated, you should run some scenarios in Taxcaster or other Tax software to determine the best course.
by pshonore
Tue May 03, 2016 8:57 am
Forum: Personal Consumer Issues
Topic: buyer's broker
Replies: 10
Views: 547

Re: buyer's broker

Builders have a choice. They can market their homes through a regular Realtor just like any other existing home. They can have their own employees do the marketing, contracts, negotiation, etc although I think in most states, the person would need a real estate license. In this case they may or may ...
by pshonore
Tue May 03, 2016 8:46 am
Forum: Investing - Help with Personal Investments
Topic: Help A Special Education Teacher Retire!
Replies: 19
Views: 1826

Re: Help A Special Education Teacher Retire!

She did work outside of the school system for about 10-15 years before 1990, but her income was very low then so if she even could claim SS on that money it would likely be very small. It wouldn't necessarily be "very small". Her long ago wages are inflation indexed upward in determining ...
by pshonore
Mon May 02, 2016 1:20 pm
Forum: Investing - Help with Personal Investments
Topic: Help A Special Education Teacher Retire!
Replies: 19
Views: 1826

Re: Help A Special Education Teacher Retire!

I am guessing ahe had to sign off on losing her SS benefits from work but what about former? husband? Can she claim a spousal from that? Tough to collect on another's SS record if you receive a pension from a job not covered by SS. In her case it might be possible since her pension is relatively lo...
by pshonore
Sun May 01, 2016 3:30 pm
Forum: Investing - Help with Personal Investments
Topic: I own an S-Corp, can I not pay myself and only my contractors?
Replies: 22
Views: 1583

Re: I own an S-Corp, can I not pay myself and only my contractors?

I agree with Hayden, you must pay yourself a reasonable salary. One recent court case went so far as to state that you must pay yourself a reasonable salary even if it causes the S-Corp to lose money in a given year. What is or isn't in the business bank account has no relevance as far as tax liabi...
by pshonore
Sun May 01, 2016 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Do I need to file an amended tax return?
Replies: 5
Views: 317

Re: Do I need to file an amended tax return?

They most certainly will catch it although it could take up to a year or more; if you amend your return now, you can minimize the additional interest that the IRS may tack on.
by pshonore
Sat Apr 30, 2016 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k question
Replies: 9
Views: 520

Re: Solo 401k question

Assuming she contributes the max, what will her W2 say in Box1 for wages? That will determine how much tax is paid.
by pshonore
Thu Apr 28, 2016 11:18 am
Forum: Personal Consumer Issues
Topic: What are Costco's best deals?
Replies: 286
Views: 39160

Re: What are Costco's best deals?

Agree with the prime steaks but they're not that expensive (whole sirloin cap for $7/lb) and they are tough to find unless you go to Whole Foods where they're much more expensive. Also their no-grain dog food is about 1/2 of comparable brands. ($33 for 32 lbs)
by pshonore
Thu Apr 28, 2016 10:03 am
Forum: Personal Consumer Issues
Topic: fairly new router keeps checking out, get a new one?
Replies: 22
Views: 1547

Re: fairly new router keeps checking out, get a new one?

Had a similar problem with a Netgear router last week. Error message was "not in range". I was about 3 feet away. Did a factory reset by sticking a paper clip in the little reset button. Everything then worked great. If you do that, be sure to reset your security/password etc. in the route...
by pshonore
Mon Apr 25, 2016 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Please help with my home office
Replies: 8
Views: 1226

Re: Please help with my home office

Great to see that people haven't had a problem with this. Maybe it's not the audit red flag that it's made out to be. How close were you guys to the 300 square foot maximum? That only applies to the "simplified" method. There's no limit the traditional way although the higher your percent...
by pshonore
Mon Apr 25, 2016 12:59 pm
Forum: Personal Consumer Issues
Topic: Cost to refinish hardwood floors and to install new floors
Replies: 16
Views: 1187

Re: Cost to refinish hardwood floors and to install new floors

You can try using oxalic acid to bleach the black spots and then sand. Be sure to read and follow the precautions on the label. You can get pre-finished Bruce solid oak flooring for about $3/sq ft but I would get something a little better for high traffic areas. Figure another $3 sq foot for install...
by pshonore
Mon Apr 25, 2016 12:50 pm
Forum: Investing - Help with Personal Investments
Topic: VUL - help me out of this mess
Replies: 20
Views: 1560

Re: VUL - help me out of this mess

If you cancel, you'll have nothing. Can you stop paying monthly and will the cash value be used to pay the premiums until the finds run out? You might get 4 yrs coverage out of the policy if that works.
by pshonore
Mon Apr 25, 2016 10:23 am
Forum: Personal Consumer Issues
Topic: Just washed and stained my cedar house. You'll never guess my next question :)
Replies: 16
Views: 2508

Re: Just washed and stained my cedar house. You'll never guess my next question :)

What kind of Cedar are we talking about? Shingles, shakes, claps, vertical boards? Hardiplank has a lot of advantages although easy installation is not one of them.
by pshonore
Sat Apr 23, 2016 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: IRA for 10 year old
Replies: 16
Views: 1836

Re: IRA for 10 year old

Thanks to mhalley for linking to the kiplinger article which answered a few lingering questions I had. Definitely start by keeping records of sources, such as including the purpose and source on the description line of bank deposits she makes from her earnings. There is an additional way to documen...
by pshonore
Fri Apr 22, 2016 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Qualifying for Company Retirement Health Insurance. Worth it?
Replies: 8
Views: 819

Re: Qualifying for Company Retirement Health Insurance. Worth it?

Dental could make it worthwhile all else being equal. Loose a molar and need an extraction with a bone graft, followed by an implant and crown and that by itself is easily $5k to $7.5k. OTOH, dental sometimes is a world of it's own with limiting annual payouts. I'd look carefully to determine that ...
by pshonore
Fri Apr 22, 2016 10:12 am
Forum: Investing - Help with Personal Investments
Topic: Social Security timing
Replies: 8
Views: 997

Re: Social Security timing

You should be aware, if she does not qualify for her own SS entitlement, she might not qualify for a Medicare Part A free premium. In such a case, the Medicare Part A premium could be up to $411/month. I don't know how it is calculated. How close is she to 40 quarters? For 2016, the minimum/quarter...
by pshonore
Thu Apr 21, 2016 3:56 pm
Forum: Investing - Help with Personal Investments
Topic: Do I need a professional tax/investment advisor?
Replies: 11
Views: 1505

Re: Do I need a professional tax/investment advisor?

His RMD starting in 2017 (say 20K for this example) or a Roth conversion this year could make more of his SS taxable (assuming he's collecting SS) so he conceivably could add 30-40K to his AGI which might push him into the 25% bracket. Impossible to say without knowing the breakdown of the 59K AGI, ...

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