Search found 113 matches

by scorp_pccorp
Fri Sep 29, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Trust just set up: What and How to transfer?
Replies: 8
Views: 509

Trust just set up: What and How to transfer?

Hello, We just had our family trust set up by an attorney. I searched for some relevant topics on this but could not get a comprehensive picture from the various questions. I would like advice on what to transfer into the trust and how and any complications resulting from doing so. 1. House - comple...
by scorp_pccorp
Thu Sep 28, 2017 1:40 pm
Forum: Personal Consumer Issues
Topic: Toyota rear-differential warranty question
Replies: 10
Views: 1120

Re: Toyota rear-differential warranty question

OP here. Great news. The inspector checked the car today and approved the warranty work. Its a major relief for me. Thanks for all the responses.
by scorp_pccorp
Tue Sep 26, 2017 6:50 pm
Forum: Personal Consumer Issues
Topic: Toyota rear-differential warranty question
Replies: 10
Views: 1120

Re: Toyota rear-differential warranty question

Nothing specifically about it.
by scorp_pccorp
Tue Sep 26, 2017 6:45 pm
Forum: Personal Consumer Issues
Topic: Toyota rear-differential warranty question
Replies: 10
Views: 1120

Toyota rear-differential warranty question

The rear differential on my Sienna has apparently gone bad at around 98K miles and needs to be replaced. According to a local shop I took it to check it out, this should be covered under the extended warranty I had purchased. So I took it to a Toyota dealership to have them check the warranty and co...
by scorp_pccorp
Mon Sep 25, 2017 9:03 am
Forum: Personal Finance (Not Investing)
Topic: 1120S - New 1099s issued now for 2016 - How to file amendment
Replies: 4
Views: 401

Re: 1120S - New 1099s issued now for 2016 - How to file amendment

I mean, we received 2 brand new 1099-MISC this month for 2016 from two vendors we do business with. These were not known at the time of filing. So I do need to amend my return correct? For Federal, there are no tax implications but for state (IL), there should be an additional tax correct?
by scorp_pccorp
Sun Sep 24, 2017 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: 1120S - New 1099s issued now for 2016 - How to file amendment
Replies: 4
Views: 401

1120S - New 1099s issued now for 2016 - How to file amendment

Hello, Recently, our S-corp was sent two new 1099s for 2016 for a total of $2250.. We already filed our 2016 1120S before March 15 using a CPA. What is the best way to file an amendment to our return for 2016? Can we do it ourselves or do we have to go back to the CPA and pay them additional fees? W...
by scorp_pccorp
Wed Sep 20, 2017 5:01 pm
Forum: Personal Consumer Issues
Topic: USPS lost very important certified mail - What next?
Replies: 46
Views: 4887

Re: USPS lost very important certified mail - What next?

It was definitely a deliverable address because it is the office of a law firm in downtown Chicago. I cross-checked with the addressee that the address on the certified mail was correct. USPS just screwed it up with their routing or some such because it just kept looping back and forth between two U...
by scorp_pccorp
Wed Sep 20, 2017 12:05 pm
Forum: Personal Consumer Issues
Topic: USPS lost very important certified mail - What next?
Replies: 46
Views: 4887

Re: USPS lost very important certified mail - What next?

OP here. Finally a USPS rep called me and said they found the letter at the suburban office and it will be mailed back to me since they cannot deliver to the addressee. Hope it comes back :) At least I can avoid USPS for the re-delivery of the check. I don't know if I can request a refund of the cer...
by scorp_pccorp
Mon Sep 18, 2017 2:52 pm
Forum: Personal Consumer Issues
Topic: USPS lost very important certified mail - What next?
Replies: 46
Views: 4887

Re: USPS lost very important certified mail - What next?

This is in Chicago.

My bank charges fees to stop payment on a check. Will USPS reimburse me these fees as well as the certified mail fees? USPS is simply not responding to any emails.
by scorp_pccorp
Mon Sep 18, 2017 2:31 pm
Forum: Personal Consumer Issues
Topic: USPS lost very important certified mail - What next?
Replies: 46
Views: 4887

USPS lost very important certified mail - What next?

I mailed a time-critical check for a large amount by certified mail three weeks ago within the same city (suburb to downtown). However it appears that USPS has lost it. Tracking shows the same information everyday for the last 2 weeks with no updates at all. The first few days showed that it kept lo...
by scorp_pccorp
Wed Aug 30, 2017 3:54 pm
Forum: Personal Consumer Issues
Topic: Bugs coming in from edge of tile and door - Who to call to fix
Replies: 2
Views: 312

Bugs coming in from edge of tile and door - Who to call to fix

I see little bugs like spiders and others coming into the foyer from under the marble tile floor where the tile meets the front door step. I am not sure if the tile installer did not do a good job laying down the underlayer for the tile or at the boundary near the doorstep. What kind of professional...
by scorp_pccorp
Tue Jun 13, 2017 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Employee theft - How best to proceed
Replies: 26
Views: 3078

Re: Employee theft - How best to proceed

I feel the same way as you do. We don't want to put these patients through any trouble (legal or otherwise) due to this employee's actions. As it is, they come to our practice because we provide very affordable care compared to other clinics in the area so we feel that we may be causing them more ha...
by scorp_pccorp
Tue Jun 13, 2017 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Employee theft - How best to proceed
Replies: 26
Views: 3078

Re: Employee theft - How best to proceed

That is actually one of the salient points. When I asked the last patient in question, they did indicate they don't want to give statement to police and I think its possibly due to immigration status concerns. Should my actions change based on this?
by scorp_pccorp
Tue Jun 13, 2017 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Employee theft - How best to proceed
Replies: 26
Views: 3078

Re: Employee theft - How best to proceed

Well, we did not want to damage the employee's reputation or future prospects so we felt that we should simply fire him and let him go. The doctor was also afraid that the employee may retaliate either via physical means or by trying to damage the practice's reputation with patients/insurance compan...
by scorp_pccorp
Mon Jun 12, 2017 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Employee theft - How best to proceed
Replies: 26
Views: 3078

Employee theft - How best to proceed

I would like some advice on how to proceed with this situation. We had an employee at our practice stealing cash from patients without the doctor's knowledge. He was able to do this for a couple months because of language barriers between the doctor and the patients and he was the only one able to c...
by scorp_pccorp
Thu Apr 20, 2017 3:50 pm
Forum: Personal Consumer Issues
Topic: Costco battery replacement possible after a year and half?
Replies: 11
Views: 1532

Costco battery replacement possible after a year and half?

I purchased a battery in July 2015 for my car at Costco. This battery was tested at a dealer this week and was found to be going bad. Will Costco replace the battery free of charge or is it too late?
by scorp_pccorp
Sun Apr 16, 2017 6:03 am
Forum: Personal Finance (Not Investing)
Topic: 1099-R shows code 81 but TAXACT uses code 1 causing tax/penalty
Replies: 3
Views: 639

Re: 1099-R shows code 81 but TAXACT uses code 1 causing tax/penalty

Alan,

Box 1: 11069.86
Box 2a: 69.86
Box 2b (Taxable amount not determined): Not checked
Box 4: 0
Box 7: 81
IRA/SEP: Checked

So how should I enter this 1099-R in TAXACT? Should I not even enter the 1099-R and 8606 for her? If so, how to report it on 1040? Thanks a lot.
by scorp_pccorp
Sat Apr 15, 2017 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-R shows code 81 but TAXACT uses code 1 causing tax/penalty
Replies: 3
Views: 639

1099-R shows code 81 but TAXACT uses code 1 causing tax/penalty

Hello, I would appreciate some guidance on my issue. My spouse made a 5500 contribution for 2015 and a second 5500 contribution for 2016 both in March 2016 with the intention of a backdoor ROTH. However, since she already had a SEP-IRA with some funds, we decided not to do the backdoor ROTH and inst...
by scorp_pccorp
Fri Apr 07, 2017 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Should I drop Chase Sapphire Preferred (have Reserve and Freedom)
Replies: 15
Views: 1154

Should I drop Chase Sapphire Preferred (have Reserve and Freedom)

I have the Chase Sapphire Reserve, Preferred, Freedom, Marriott Rewards cards.

Is there any reason to keep and continue paying the $95 annual fee for the Preferred card?

What about the Marriott Rewards card? Does the Reserve card's hotel benefits kind of override any benefits of this card?

Thanks.
by scorp_pccorp
Wed Dec 14, 2016 4:07 pm
Forum: Personal Consumer Issues
Topic: Recommend whole house well water filtration system
Replies: 0
Views: 338

Recommend whole house well water filtration system

Hello folks, I am looking for recommendations and suggestions on whole house well water filtration systems. My filtration system is over 15 years old. Of late I have been seeing major iron stain issues as well as rotten egg smells from both my drinking water and bathing water. I am thinking of compl...
by scorp_pccorp
Sat Oct 29, 2016 5:45 pm
Forum: Personal Consumer Issues
Topic: Are Menards ADA compliant toilets really compliant?
Replies: 3
Views: 737

Are Menards ADA compliant toilets really compliant?

Are the toilets that Menards or Home Depot sell under the ADA compliant label really ADA compliant? These toilets bowl heights are either 16.5 or 16.75" while ADA says the height must be between 17" and 19".

Can I buy these toilets for commercial use?
by scorp_pccorp
Wed Oct 19, 2016 3:59 pm
Forum: Personal Consumer Issues
Topic: Comcast Business Voice Mobility - will VOIP phone work?
Replies: 1
Views: 423

Comcast Business Voice Mobility - will VOIP phone work?

I just signed up for Comcast Business Voice Mobility line (2 lines) and Internet package for my small office. But I am stumped on what phones I can use with these lines? Comcast has provided me with two separate modems (one for voice and one for internet) and I have separate wiring running for the p...
by scorp_pccorp
Thu Sep 08, 2016 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Any reason to pay down 401k loan?
Replies: 11
Views: 1947

Re: Any reason to pay down 401k loan?

Will the involuntary required payoff amount after a layoff be the principal + the full amortized interest over the 30 year term? Or will it be what the calculated payoff amount be at that point in time (assuming I asked for a payoff amount without a layoff)? If its the latter, then since I will have...
by scorp_pccorp
Tue Sep 06, 2016 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Any reason to pay down 401k loan?
Replies: 11
Views: 1947

Re: Any reason to pay down 401k loan?

Thanks very much for the illustration. Unfortunately, the plan does not offer an additional payments option. Its either payoff in full or continue the monthly payments. If the payoff balance is around 44k, does it still make sense to pay the whole thing off based on your illustration (assuming I hav...
by scorp_pccorp
Mon Sep 05, 2016 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Any reason to pay down 401k loan?
Replies: 11
Views: 1947

Any reason to pay down 401k loan?

I have a 30-year 401k loan at 4.25% that I used for my home purchase couple of years ago. Funds are auto-withdrawn post-tax from my paycheck to make the loan payment. I contribute the maximum yearly amount to the 401k. Is there any reason at all to pay back this loan ahead of schedule? The total mai...
by scorp_pccorp
Wed Aug 10, 2016 11:45 am
Forum: Personal Consumer Issues
Topic: Property tax increase: Worth appealing? DYI or use attorney?
Replies: 42
Views: 3004

Re: Property tax increase: Worth appealing? DYI or use attorney?

I did have a recent appraisal done (within the last 6 months) for a HELOC. The appraised value was higher than my purchase price a couple years ago by 4.5%. So it seems that since both the appraised value and the assessed value of the property are higher, the tax increase is probably reasonable. Wou...
by scorp_pccorp
Wed Aug 10, 2016 11:01 am
Forum: Personal Consumer Issues
Topic: Property tax increase: Worth appealing? DYI or use attorney?
Replies: 42
Views: 3004

Re: Property tax increase: Worth appealing? DYI or use attorney?

I checked the assessed values for 10 neighboring homes. All of them (including my house) went up exactly 6.5% from last year. So I guess I am out of luck, correct?
by scorp_pccorp
Wed Aug 10, 2016 10:23 am
Forum: Personal Consumer Issues
Topic: Property tax increase: Worth appealing? DYI or use attorney?
Replies: 42
Views: 3004

Property tax increase: Worth appealing? DYI or use attorney?

I just got a property tax assessment notice with an increase of 6.5%. I have made no improvements to the property. Is it worth appealing this? What reasoning can I use to appeal? What are the chances of success of the appeal? I also received a letter from a local attorney's office about them handlin...
by scorp_pccorp
Fri Aug 05, 2016 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Which is better: business loan with conditions or using personal funds
Replies: 3
Views: 341

Which is better: business loan with conditions or using personal funds

I have enough personal funds to finance my business (equipment, capital and other things). But I also have an approved 10-year business loan at 4.99%. Of course, the loan still requires my personal guaranty. And it comes with a number of requirements like monthly reporting, insurance, etc.. I am tor...
by scorp_pccorp
Wed Jul 27, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Question on Lender practice financing guaranty
Replies: 4
Views: 404

Question on Lender practice financing guaranty

Hi folks, You are not my lawyer, etc.. But I would like your advice anyway. I am in the process of obtaining financing for my practice startup. My corporation is the borrower with me providing a personal guaranty. I just received the final loan approval papers which have the following language in th...
by scorp_pccorp
Tue Jul 26, 2016 3:01 pm
Forum: Personal Consumer Issues
Topic: Bring medical instruments into US on flight - How much duty?
Replies: 20
Views: 1714

Re: Bring medical instruments into US on flight - How much duty?

Thanks for the replies everybody. These are little handheld dental instruments like drills, needles, dispensers, trays and other accessories. Not the big bulky stuff. I would like to use them in my own practice. I am a US citizen. I would like to buy them in India because they are much cheaper there...
by scorp_pccorp
Tue Jul 26, 2016 10:52 am
Forum: Personal Consumer Issues
Topic: Bring medical instruments into US on flight - How much duty?
Replies: 20
Views: 1714

Bring medical instruments into US on flight - How much duty?

Does anyone have experience bringing medical instruments into the US (either bringing them on flight or importing them)? What are the duties levied on such? Do we have to declare them at Customs if total cost for them is under $1000? I have been looking for information on the CBP/FDA websites but ca...
by scorp_pccorp
Mon May 16, 2016 1:30 pm
Forum: Personal Consumer Issues
Topic: Should I get property survey done? Cost estimate?
Replies: 8
Views: 1377

Should I get property survey done? Cost estimate?

I would like your opinions on this matter. I bought my house two years ago. The sellers provided me with the survey documents performed as part of the sale. However, the survey company did not install any property markers. In the last month, my neighbor had a survey done on their property (I don't k...
by scorp_pccorp
Wed Apr 13, 2016 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need to file 8606? (entire contribution withdrawn before filing date)
Replies: 1
Views: 342

Do I need to file 8606? (entire contribution withdrawn before filing date)

I am confused about the 8606 instructions. In one paragraph, it says "Do not include on line 1 contributions that you had returned to you with the related earnings (or less any loss). See Return of IRA Contributions, earlier." This is my situation. I withdrew the entire IRA contribution be...
by scorp_pccorp
Tue Apr 12, 2016 2:07 pm
Forum: Personal Consumer Issues
Topic: Estimated cost to install 42" custom cabinet?
Replies: 2
Views: 619

Estimated cost to install 42" custom cabinet?

I am trying to have a single custom L-shaped 42" liquor wall cabinet (cherry wood + glass doors) built and installed in my living room. What would be a ballpark estimate for the parts + labor for this job? I got a couple of quotes and both are in the $3000 range. Seems pretty high but perhaps t...
by scorp_pccorp
Sat Apr 09, 2016 11:13 am
Forum: Personal Finance (Not Investing)
Topic: HRBlock SW: how to report excess IRA contribution withdrawal
Replies: 0
Views: 692

HRBlock SW: how to report excess IRA contribution withdrawal

I removed excess IRA contributions from Vanguard this week for years 2015 and 2016. I made both contributions in March 2016. I told them not to withhold any federal taxes on the withdrawals. There are slight gains (under 50$) in both removals that I have to pay taxes on. For the upcoming 2015 tax re...
by scorp_pccorp
Thu Apr 07, 2016 9:38 am
Forum: Personal Consumer Issues
Topic: Pungent smell from kitchen faucet
Replies: 11
Views: 1236

Re: Pungent smell from kitchen faucet

Its Well water. We had the water tested about 3 months ago per the city's rules and there were no problems at the time.
by scorp_pccorp
Thu Apr 07, 2016 9:31 am
Forum: Personal Consumer Issues
Topic: Pungent smell from kitchen faucet
Replies: 11
Views: 1236

Pungent smell from kitchen faucet

I have noticed a pungent (sulphuric ?) smell from my kitchen faucet for the last 3 or 4 days. I have a water softener that I replenish with salt as needed. I also use a bit of Ironout now and then inside the brine tank (but not very regularly). What could be the cause of this smell and what can I do...
by scorp_pccorp
Fri Mar 18, 2016 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Can I convert SEP-IRA to something else? What? How?
Replies: 7
Views: 783

Re: Can I convert SEP-IRA to something else? What? How?

Answer is simple. Cannot afford it.

I will look into the solo-401k option. Seems like I can do at least 2 years of backdoor Roth conversions with this.

Thanks.
by scorp_pccorp
Fri Mar 18, 2016 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Can I convert SEP-IRA to something else? What? How?
Replies: 7
Views: 783

Re: Can I convert SEP-IRA to something else? What? How?

Alan, Thanks for the response. What do you mean by transferring the SEP-IRA into the TIRA? Does that mean liquidate the SEP-IRA and move the funds to the TIRA? The SEP-IRA is at TDAmeritrade. I will have to look into this option. Not sure how it works. I already put in the 5500 2015 contribution int...
by scorp_pccorp
Thu Mar 17, 2016 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Can I convert SEP-IRA to something else? What? How?
Replies: 7
Views: 783

Can I convert SEP-IRA to something else? What? How?

My wife has a SEP-IRA from a few years ago that is preventing us from doing a backdoor Roth for her. What can we do to convert this SEP-IRA into something else so that we can do backdoor Roths for her in the future? She is self-employed with her own corp and will have 1 or 2 employees in the near fu...
by scorp_pccorp
Wed Mar 16, 2016 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Withdraw Vanguard IRA contribution or not?
Replies: 4
Views: 556

Re: Withdraw Vanguard IRA contribution or not?

jpelder,

I am confused by your answer. Our AGI is over the deductibility limit for the TIRA as well as the RIRA. I thought the AGI (for MFJ filing status) was the ruling factor for TIRA deductibility, not individual retirement plan availability. Am I mistaken? Thanks.
by scorp_pccorp
Wed Mar 16, 2016 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Withdraw Vanguard IRA contribution or not?
Replies: 4
Views: 556

Withdraw Vanguard IRA contribution or not?

Folks, Yesterday I had a memory lapse that my wife still has a SEP-IRA from sometime ago. I went and contributed $5500 for 2015 to her traditional IRA at Vanguard. We are not eligible for IRA or Roth IRA tax deductions due to our income being over the Roth IRA limit. I was planning to do backdoor to...
by scorp_pccorp
Wed Feb 03, 2016 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: Self employed - do you use Quick Books or other tools
Replies: 9
Views: 813

Re: Self employed - do you use Quick Books or other tools

I use QBO (Quickbooks Online) and IOP (Intuit Online Payroll) for my single shareholder S-corp (similar to yours providing professional services)- QBO to keep books and IOP to do payroll/taxes/payments etc.. I pay about $53/month total for both. I highly recommend this setup because it completely el...
by scorp_pccorp
Sat Jan 23, 2016 1:11 pm
Forum: Personal Consumer Issues
Topic: Brake pads/rotors: will shop install my parts?
Replies: 24
Views: 4894

Brake pads/rotors: will shop install my parts?

I need my brake pads replaced and my rotors either resurfaced or replaced. I am getting quotes from the usual places like Midas, Meineke, etc.. The part prices they quote seem really high. I can get the same parts elsewhere for much lower. But I definitely cannot install the rotors myself. Will thes...
by scorp_pccorp
Thu Jan 21, 2016 1:56 pm
Forum: Personal Consumer Issues
Topic: Water softener water overflow issue
Replies: 16
Views: 2230

Re: Water softener water overflow issue

Yeah. But in my case, the two resin bead tanks are identical with both having their own controls & timers. The common water line is split into two and fed into each of the tanks. But only one resin tank is connected to the brine tank. I also found a note on the bottom of the other tank (not conn...
by scorp_pccorp
Wed Jan 20, 2016 11:48 am
Forum: Personal Consumer Issues
Topic: Cold spots in certain rooms. Why? How to solve?
Replies: 28
Views: 2662

Re: Cold spots in certain rooms. Why? How to solve?

I bought the house last year. It was built in 2000.

margered wrote:I didn't read carefully, but when did you first live in this house?
by scorp_pccorp
Wed Jan 20, 2016 11:48 am
Forum: Personal Consumer Issues
Topic: Cold spots in certain rooms. Why? How to solve?
Replies: 28
Views: 2662

Re: Cold spots in certain rooms. Why? How to solve?

How do I get to these dampers in the chimneys? Do I need a roofing guy to check? Thanks.

curmudgeon wrote:So do you have the dampers open in the chimneys? That will suck the warmth out of a room. The warm air going up the chimney will be replaced by cold air coming in from outside.
by scorp_pccorp
Wed Jan 20, 2016 11:43 am
Forum: Personal Consumer Issues
Topic: Cold spots in certain rooms. Why? How to solve?
Replies: 28
Views: 2662

Re: Cold spots in certain rooms. Why? How to solve?

Yes. That's it. This answer makes the most sense. I will go with Poltergeist as well Now I need to go spend a fortune on all that electromagnetic equipment that the paranormal guys on TV have Well... hate to say it, but totally overlooked in the replies to your question is the obvious answer: You ha...