Search found 811 matches

by spammagnet
Tue Feb 20, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: FSA Question
Replies: 3
Views: 206

Re: FSA Question

Someone may correct me but I believe you can pay with the FSA only the out-of-pocket portion of your medical expenses. Otherwise you'd be converting untaxed income intended for healthcare purposes to a non-healthcare purpose, without paying the tax. Edit: you're better off using your regular credit ...
by spammagnet
Mon Feb 19, 2018 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Criteria used to make Roth Conversion decision
Replies: 39
Views: 2698

Re: Criteria used to make Roth Conversion decision

Hi I'm 62, semi retired, wife still working, self employed. I'm looking at making a Roth conversion for 2018 tax year. I expect to be able to move $20k and still stay in the 12% bracket, HOWEVER, that is dependent on fully funding two SEP/IRAs and HSA. Does it make sense to Roth convert while still...
by spammagnet
Fri Feb 16, 2018 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: How to get child's skin in the game for college?
Replies: 135
Views: 6470

Re: How to get child's skin in the game for college?

I haven't read the whole thread and, while we provided our 2 kids a full ride at a state university, a former colleague had an interesting approach to this topic. Their daughter was expected to take out loans for college without a co-signature with the agreement that the parents would pay the loans ...
by spammagnet
Mon Feb 12, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: The value of car body repairs/upkeep of older cars?
Replies: 33
Views: 2763

Re: The value of car body repairs/upkeep of older cars?

I've kept a new car as long as 17 years. I would have impact or other damage repaired but I would never bother with rust repair. I would get rid of the car as soon as it became evident, before the value of the car (if any) was completely trashed. I have had a faded car repainted with the knowledge t...
by spammagnet
Sun Feb 11, 2018 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Passthrough deduction affected by solo 401k?
Replies: 8
Views: 463

Re: Passthrough deduction affected by solo 401k?

Yeah I am waiting for some real-world results before I make any changes https://www.forbes.com/sites/anthonynitti/2018/01/04/the-new-qualified-business-income-deduction-varies-based-on-your-business-type-or-does-it/#5691a2542076 Either way it won't make a big difference in my plans. I'll have only ...
by spammagnet
Sun Feb 11, 2018 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: Passthrough deduction affected by solo 401k?
Replies: 8
Views: 463

Re: Passthrough deduction affected by solo 401k?

... There is a growing consensus that the W-2 payroll limit in the law does apply to the self-employed and this is not in conflict with the legislative intent. ... There are indications that the W-2 payroll limit was inserted specifically to limit the deduction to small businesses that employ peopl...
by spammagnet
Sun Feb 11, 2018 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Passthrough deduction affected by solo 401k?
Replies: 8
Views: 463

Re: Passthrough deduction affected by solo 401k?

My previous post on the topic. https://www.bogleheads.org/forum/viewtopic.php?f=2&t=240925 In short, yes, solo 401k contributions can potentially reduce your 199A deduction. It cannot be greater than 20% of taxable income calculated without regard to the 20% deduction. Since 401k contributions indir...
by spammagnet
Sun Feb 11, 2018 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k basic question
Replies: 12
Views: 571

Re: Solo 401k basic question

... There is still some debate on how the 199A deduction will apply to sole proprietorships with no W-2 payroll. I am pretty sure that it can not be greater than 20% of the lessor of business income or taxable income. Here is my take on what it might be if the 199A deduction applies at all. ... To ...
by spammagnet
Sun Feb 11, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: what to look for when buying a flipped house
Replies: 27
Views: 1850

Re: what to look for when buying a flipped house

mikeast wrote:
Sun Feb 11, 2018 7:11 am
I thinks its critical that you take the time to find a really good home inspector. ...
They're hard to find. There is a very low entry barrier in the field. Many just pay a subscription to a home inspection software web site to make pretty reports with pictures they took with their smartphone.
by spammagnet
Sun Feb 11, 2018 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Auto loan teaser rates lower than mortgage rates - arbitrage opportunity?
Replies: 13
Views: 915

Re: Auto loan teaser rates lower than mortgage rates - arbitrage opportunity?

I've not done it but my credit union is quite willing. Their decision is based on the likelihood of getting paid and the value of the car used as collateral.
by spammagnet
Fri Feb 09, 2018 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Surprise financial disaster, severe debt $300K caused by brother-in-law - Please help!
Replies: 246
Views: 60840

Re: Surprise financial disaster, severe debt $300K caused by brother-in-law - Please help!

phatkev wrote:
Fri Feb 09, 2018 7:33 pm
Also I appreciate the concern for privacy with my star trek quote. I thought everyone would get that I was not really taking to someone named Jim and I’m not really a doctor.

That’s what I get for trying to be funny.
Perhaps if you had used quotes and attributed it to Bones, it might have survived.
by spammagnet
Thu Feb 08, 2018 1:30 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k basic question
Replies: 12
Views: 571

Re: Solo 401k basic question

Spirit Rider wrote:
Thu Feb 08, 2018 1:26 am
For an S-Corp shareholder-employee it is 25% of W-2 Wages. For the self-employed it is 20% of net self-employment earnings. These are actually both the same 25% of compensation, just calculated differently.
Thank you for the explanation. Information like this is why I like this place.
by spammagnet
Thu Feb 08, 2018 1:18 am
Forum: Personal Finance (Not Investing)
Topic: Do I have to pay taxes on a bank checking account bonus?
Replies: 16
Views: 1611

Re: Do I have to pay taxes on a bank checking account bonus?

B3GINN3R wrote:
Wed Feb 07, 2018 11:16 pm
Code says you are taxed on all income from whatever source derived. If they give you cash, that is income. You are supposed to report it and pay taxes on it.
Bank account bonuses, yes; credit card bonuses, no.
by spammagnet
Thu Feb 08, 2018 12:47 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k basic question
Replies: 12
Views: 571

Re: Solo 401k basic question

IRS Publication 560, page 22, the Deduction Worksheet for Self-Employed show that pre-tax deferrals and employer contributions combined are deducted on Form 1040 Line 28. There is still some debate on how the 199A deduction will apply to sole proprietorships with no W-2 payroll. I am pretty sure th...
by spammagnet
Thu Feb 08, 2018 12:41 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k basic question
Replies: 12
Views: 571

Re: Solo 401k basic question

And that's the total contribution including both elective and 'profit-sharing' portions? Yes, both types. There is a 25% limit for non elective contributions. Here's the IRS page. https://www.irs.gov/retirement-plans/one-participant-401k-plans As a sole proprietor I'd be limited to 20% profit-shari...
by spammagnet
Thu Feb 08, 2018 12:22 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k basic question
Replies: 12
Views: 571

Re: Solo 401k basic question

GKSD wrote:
Thu Feb 08, 2018 12:13 am
Your total Solo-401K contribution (employee deferral+profit sharing) go on line 28 of 1040, which is deducted from line 22 Total Income.
Thanks. That''s clear.
by spammagnet
Thu Feb 08, 2018 12:16 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k basic question
Replies: 12
Views: 571

Re: Solo 401k basic question

Anon1234 wrote:
Thu Feb 08, 2018 12:12 am
Shows up on form 1040 line 28. then line 36. then gets subtracted from line 22 to create AGI.
And that's the total contribution including both elective and 'profit-sharing' portions?
by spammagnet
Wed Feb 07, 2018 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k basic question
Replies: 12
Views: 571

Solo 401k basic question

I'm exploring my retirement account options as a sole proprietor. A Solo 401k seems ideal. It seems obvious but I can't find it stated explicitly anywhere that the 'employer' profit-sharing results in a reduction in AGI. Am I correct in that conclusion? Is the estimate below accurate, assuming 150K ...
by spammagnet
Tue Feb 06, 2018 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

I think it was handled reasonably well but agree that they missed an opportunity to get people more deeply engaged in the system.
by spammagnet
Tue Feb 06, 2018 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

TravelGeek wrote:
Tue Feb 06, 2018 12:23 pm
samsoes wrote:
Tue Feb 06, 2018 10:42 am
Still, they should be ashamed for at least not communicating anything to those of us who upgraded on Sunday.
Are you saying that you didn't know that this was most likely an accidental "offer" that might not stick?
nudge, nudge, wink, wink
by spammagnet
Mon Feb 05, 2018 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

That is my concern as well. I did not install the 2018 version I downloaded, but i am now a bit worried that my account with Quicken now shows a termination date of April 2018. I should be good to April of 2020 under the old "3-yr" rule. I certainly hope they still honor that. Honestly, I'd be very...
by spammagnet
Mon Feb 05, 2018 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

Yes. After the subscription lapses you can no longer download bank and brokerage transactions. You also won't be able to do anything that requires the Internet, e.g. get securities quotes, get software updates from Quicken, use the mobile phone functions, etc. You will still be able to use the prod...
by spammagnet
Mon Feb 05, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

Moneydance downloads my Fidelity investment transactions, though I don't use Fidelity for checking so maybe that makes a difference. .. That's the difference. I can't characterize my Fidelity CMA account as a checking account, and I prefer to. If I banked with a more traditional commercial bank and...
by spammagnet
Mon Feb 05, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

mrb55 wrote:
Mon Feb 05, 2018 8:30 pm
The free upgrade was a nice idea while it lasted.
I think it was safe to assume they'd find a way out.
by spammagnet
Mon Feb 05, 2018 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: MS Money replacement
Replies: 16
Views: 1351

Re: MS Money replacement

I use MS Money Sunset edition. I am not bothered by not being able to download because I make so few transactions that I can manually enter them. Indeed, if I think about using money and then having to enter a transaction, I just don't use money: No buying, no spending, no selling, and no need to e...
by spammagnet
Mon Feb 05, 2018 7:23 am
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

A participant on Reddit (/r/churning) reported that customer support is saying that Quicken management plans to honor the 5- year subscription for those who got one. I have no other sources to confirm that. I imagine Quicken will say something today. Then again, they may remain quiet to let this jus...
by spammagnet
Sun Feb 04, 2018 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Change in "career", PA or Optometry?
Replies: 79
Views: 6280

Re: Change in "career", PA or Optometry?

kenoryan wrote:
Thu Feb 01, 2018 8:05 am
AI (Watson) is taking over diagnosis of X-rays and MRIs but actual robots performing surgery is not happening in our lifetime.
Pattern recognition is easy for computers. Diagnostic imaging will be a tough field for future radiologists.
by spammagnet
Sun Feb 04, 2018 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Best rule of thumb for determining home affordability?
Replies: 54
Views: 2400

Re: Best rule of thumb for determining home affordability?

Klangfool seems to think 3500 a month is ok for us at our income level. ... Is this proof that klangfools rules of thumb are downright stupid? I believe Klangfool's point is that rules of thumb often are developed by others for their benefit, not yours, and that the only rule of thumb you need is t...
by spammagnet
Sun Feb 04, 2018 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Best rule of thumb for determining home affordability?
Replies: 54
Views: 2400

Re: Best rule of thumb for determining home affordability?

panchilly wrote:
Sun Feb 04, 2018 9:09 pm
We save about 70k inclusive of everything. Is that enough for you ?
The important point is whether it's enough for you to meet your goals (with reasonable assumptions about risk and return).
by spammagnet
Sun Feb 04, 2018 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: Best rule of thumb for determining home affordability?
Replies: 54
Views: 2400

Re: Best rule of thumb for determining home affordability?

If this calculation says you can afford, I am pretty confident that you will be able to easily and safely afford that house. This sounds you me like it would be good at determining the benefit of purchasing over renting. It does not tell me how much I can afford, i.e., I have the means to pay for it.
by spammagnet
Sun Feb 04, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

I see few of you use moneydance. From their website cost is $50. Do they support automatic downloading from banks/brokerage/mutual fund firms/credit card etc? It seems quicken will become 75+ every year which is way more than I was used to paying them. I've heard positive reviews from others but Mo...
by spammagnet
Sun Feb 04, 2018 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

The only offer I've seen previously for a Quicken 2018 subscription was for not more than 2 years, if I recall correctly. This incident was the first time I ever saw a 5 year offer. I wonder if that was posted with malice intent. If so, it may provide grounds for Quicken to reverse it somehow. All o...
by spammagnet
Sun Feb 04, 2018 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

LadyGeek wrote:
Sun Feb 04, 2018 12:10 pm
The party's over. Quicken Premier is now showing for $67.49/yr (first year discount).

The purchase is officially killed:
Along with the job of the employee who posted it? Kinda like the guy in Hawaii?
by spammagnet
Sun Feb 04, 2018 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

The party's over. Quicken Premier is now showing for $67.49/yr (first year discount). The purchase is officially killed: QUICKEN PREMIER 2018 DIRECT DOWNLOAD 5YR Platform: N/A Date Purchased: February 4, 2018 Service Ends: February 3, 2019 Not available for Download • However, my Quicken 2015 is st...
by spammagnet
Sun Feb 04, 2018 11:36 am
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

Bylo Selhi wrote:
Sun Feb 04, 2018 11:33 am
The party is about to end. From Quicken's support website:
Quicken Tyka, Official Rep wrote:Thank you for notifying us of the issue! We are working on getting this resolved.
That will stop the bleeding. I wonder what they'll do about the registrations that already happened.
by spammagnet
Sun Feb 04, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Quicken's future direction - a cause for concern
Replies: 516
Views: 67723

Re: Quicken's future direction - a cause for concern

LadyGeek wrote:
Sun Feb 04, 2018 11:01 am
... Use this thread to discuss Quicken's future direction. It may change after today.
:D
by spammagnet
Sun Feb 04, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

...Of course with today being Sunday, the powers-that-be may not see it until Monday. And even then that assumes they're not hungover from SuperBowl celebrations. That's a legitimate concern in my local area (check the location under my avatar). :D In your case it may be hangover but not necessaril...
by spammagnet
Sun Feb 04, 2018 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

Bylo Selhi wrote:
Sun Feb 04, 2018 10:31 am
This "deal" has now been posted on Quicken's customer support site:
One wonders whether they've been hacked, or maybe a disgruntled former employee still had access to edit the web site.
by spammagnet
Sun Feb 04, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Quicken Premier 5-year subscription $0 (free) on quicken website
Replies: 157
Views: 8919

Re: Quicken Premier 5-year subscription $0 (free) on quicken website

donfairplay wrote:
Sun Feb 04, 2018 10:20 am
However, there is a slight loophole if you purchased a two-year subscription (mostly through Amazon), and then upgraded, it will tack on 5 years after your 2 year subscription ends.
Will Quicken survive 7 years, or even 5?
by spammagnet
Fri Feb 02, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: ESPP - how much extra cash to keep around to cover the smaller paycheck and when?
Replies: 6
Views: 529

Re: ESPP - how much extra cash to keep around to cover the smaller paycheck and when?

Stop saving in taxable. When you get the payout from the ESPP, use that to put as much in taxable as you would have by the monthly approach.

Does that work out right?
by spammagnet
Thu Feb 01, 2018 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone use Personal Capital, Mint, Tiller, or You Need a Budget?
Replies: 38
Views: 3170

Re: Does anyone use Personal Capital, Mint, Tiller, or You Need a Budget?

Pers. Cap. They call to sell you their services I don't like this. ... If you tell them you're a DIYer and no, thank you, they'll leave you alone. YNAB: woof... it's really great but wow does it take work. I bought it then promptly abandoned it on the first day. How long ago? The current web versio...
by spammagnet
Thu Feb 01, 2018 12:10 am
Forum: Investing - Help with Personal Investments
Topic: I have an overwhelming gift I'm in need of help of please.
Replies: 89
Views: 7920

Re: I have an overwhelming gift I'm in need of help of please.

Put it in a bank. Maximize all tax-deferred accounts. If you don't have Roth accounts, open them and fund them to the max allowed. If that leaves you short of cash without otherwise changing your pre-gift budget, make up the difference from the cash. Other than that, there's no urgency to do anythin...
by spammagnet
Tue Jan 30, 2018 10:46 pm
Forum: Personal Consumer Issues
Topic: Should I Do My Own Taxes Or Pay A CPA $500?
Replies: 64
Views: 5541

Re: Should I Do My Own Taxes Or Pay A CPA $500?

... - the hardest part had been gathering the paperwork (that time it was for a relative's taxes, not mine). When I used Taxcut long ago, it had a menu option it called "Shoebox". It asked you a few questions about the kind of form you had in your hand, then took you to that random point in the ret...
by spammagnet
Tue Jan 30, 2018 10:42 pm
Forum: Personal Consumer Issues
Topic: Should I Do My Own Taxes Or Pay A CPA $500?
Replies: 64
Views: 5541

Re: Should I Do My Own Taxes Or Pay A CPA $500?

... Do the tax programs help a married couple determine if it makes more sense to file jointly, or separately? Each year, our accountant's software allows him to quickly determine which way to file. I started out with Taxcut long before it was owned by HR Block, then switched to TT in more recent y...
by spammagnet
Mon Jan 29, 2018 9:14 am
Forum: Personal Consumer Issues
Topic: Which of these mechanic-recommended services would you pay for?
Replies: 55
Views: 3727

Re: Which of these mechanic-recommended services would you pay for?

For privacy reasons, I cannot disclose that information. I can say it's a recent car (less than 10 years old) and one of the major vehicle brands. Unless you're Jay Leno and you own the only surviving example in the world, how could the make and model of car possibly reveal too much identifying inf...
by spammagnet
Mon Jan 29, 2018 8:30 am
Forum: Personal Consumer Issues
Topic: SSD + HDD good option for upgrading desktop PC?
Replies: 74
Views: 9646

Re: SSD + HDD good option for upgrading desktop PC?

I have a pre-installed version of Windows 8.1 with no media. Is there a way to get a copy of the media, or do I need to clone the OS drive? If it's working and the utility has not been used already, the PC probably had an option to create a copy of install media when first purchased. If there is no...
by spammagnet
Mon Jan 29, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Change in "career", PA or Optometry?
Replies: 79
Views: 6280

Re: Change in "career", PA or Optometry?

TIAX wrote:
Mon Jan 29, 2018 12:43 am
That is, the four year education requirement is nothing more than protectionism in the industry. Same as physical therapists, pharmacists, and the like.
So, good 'ol common sense oughta do it?
by spammagnet
Mon Jan 29, 2018 2:11 am
Forum: Personal Finance (Not Investing)
Topic: Change in "career", PA or Optometry?
Replies: 79
Views: 6280

Re: Change in "career", PA or Optometry?

Was the "certified assistant" an optometrist? No, not even close. Not even an optician. I doubt that a bachelor's degree (or any? don't know.) was required for the certification. Did you use that "piece of paper" to fill a prescription for glasses? Who signed it (the certified assistant or the opht...
by spammagnet
Sun Jan 28, 2018 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Change in "career", PA or Optometry?
Replies: 79
Views: 6280

Re: Change in "career", PA or Optometry?

I would also be concerned that technology could greatly impact a retail optometrist job in the next 30 years. I can easily picture some sort of robotic optometrist that you look into and it does routine eye exams and eyeglass fitting. That could leave you in a very limited field. As a PA there will...