Search found 7245 matches

by tfb
Sat Apr 30, 2016 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Old 8606 Form - Incorrectly Chose Distribution/Conversion
Replies: 3
Views: 254

Re: Old 8606 Form - Incorrectly Chose Distribution/Conversion

Since line 4 that should be zero is filled out, should I submit a corrected 8606 to avoid future issue? There is no correction needed for line 14 that establish the traditional non-deductible IRA basis. Don't worry about it. The instructions have you skip those lines when they know it's not necessa...
by tfb
Sat Apr 16, 2016 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Booking airfare - Wash DC to Dallas in fall
Replies: 5
Views: 375

Re: Booking airfare - Wash DC to Dallas in fall

Pdxnative wrote:will credit price difference to your account

As credit for future travel in the next 12 months, not refund back to your credit card. Be sure to keep the original confirmation code and use it when you book again.
by tfb
Sat Apr 16, 2016 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth, Mega backdoor roth and the Pro-rata rule
Replies: 5
Views: 648

Re: Backdoor Roth, Mega backdoor roth and the Pro-rata rule

On Dec 31, 2015, The TIRA therefore had $200. Does this screw up the conversion in some way for 2015? Will the Pro-rata rule be invoked here? The Pro-rata rule will be invoked but it's not a big deal. It only means you pay tax on less than $200 (say $190) on your conversion. When you convert this $...
by tfb
Fri Apr 15, 2016 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: Rolling over 401K - Still employed
Replies: 10
Views: 556

Re: Rolling over 401K - Still employed

KlangFool wrote:This is NOT withdrawal. This is 401K in service rollover. There is a different set of rule for withdrawal.

It is only available for certain 401K plan. It is not available for most employers.

Not really. See

http://thefinancebuff.com/in-service-wi ... rules.html
by tfb
Wed Apr 13, 2016 4:44 pm
Forum: Investing - Help with Personal Investments
Topic: Experience with My Solo 401k Financial or IRA Financial Group?
Replies: 13
Views: 626

Re: Experience with My Solo 401k Financial or IRA Financial Group?

Do you remember the reason? That's a bit silly on the surface. There are no special administration requirements of after-tax for an individual 401k that would make it more complex. No but it's perfectly understandable. The lower pricing competes with free plans from Vanguard etc. The free plans don...
by tfb
Wed Apr 13, 2016 3:25 pm
Forum: Investing - Help with Personal Investments
Topic: Experience with My Solo 401k Financial or IRA Financial Group?
Replies: 13
Views: 626

Re: Experience with My Solo 401k Financial or IRA Financial Group?

I assume Employee Fiduciary's document allows for what you are looking for, and you can get Vanguard funds there. Their pricing is $100 to set up, and $200 annual administration +.08%. Note that the .08% goes to the custodian Matrix (MG Trust). EF doesn't pocket that money. http://www.employeefiduc...
by tfb
Sat Apr 09, 2016 11:10 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Error or Change in Rule of "Backdoor" IRA Conversion
Replies: 12
Views: 1002

Re: H&R Block Error or Change in Rule of "Backdoor" IRA Conversion

I'm using H&R Block software to file 2015 tax. In the final review, I notice that I incur $660 which is labeled as "retirement tax." This amount comes from my "backdoor" conversion of nondeductible traditional IRA to Roth IRA. I converted a total amount of $11,000 for both m...
by tfb
Sun Mar 27, 2016 1:31 pm
Forum: Investing - Help with Personal Investments
Topic: leaving vanguard due to math errors / poor customer service?
Replies: 92
Views: 8804

Re: leaving vanguard due to math errors / poor customer service?

dbr wrote:Interesting that the error is to continue to use the price of the initial purchase.

The closing price on 2/11 was $21.34, not $21.35. The $21.35 displayed is a weighted average of the initial purchase at $21.34 and the subsequent purchase at $23.60.
by tfb
Sun Mar 27, 2016 1:22 pm
Forum: Investing - Help with Personal Investments
Topic: leaving vanguard due to math errors / poor customer service?
Replies: 92
Views: 8804

Re: leaving vanguard due to math errors / poor customer service?

This is why you must distinguish between managing your investments (the funds) and managing your accounts. They are not the same and they require completely different competence. Doing well in managing index funds doesn't lead to doing well in IT and accounting. Find someone who excels in managing i...
by tfb
Sun Mar 27, 2016 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-R for Mega Backdoor IRA
Replies: 9
Views: 800

Re: 1099-R for Mega Backdoor IRA

ash000000 wrote:Here is how I answered to turto-tax questions:

And what was the result? If the result isn't the same as having 0 in box 2a just enter 0 instead of blank.
by tfb
Fri Mar 25, 2016 9:53 am
Forum: Personal Finance (Not Investing)
Topic: I may have over contributed [403(b) plus 401(a)]
Replies: 3
Views: 252

Re: I may have over contributed [403(b) plus 401(a)]

gldw wrote:Is it correct that this year for example I can only contribute a max between these two different employer sponsored programs $18,000?

No. Don't worry about it.
by tfb
Fri Mar 18, 2016 1:12 am
Forum: Personal Finance (Not Investing)
Topic: Trying to squeak under limit for Obamacare Subsidy
Replies: 11
Views: 2073

Re: Trying to squeak under limit for Obamacare Subsidy

kwpr wrote:We just finalized our 2015 taxes and discovered that due to a California state tax refund we got this year we went over the income limit to receive any Obamacare subsidies.

Are you sure the state tax refund is taxable? If you didn't itemize the previous year your state tax refund isn't taxable.
by tfb
Sun Jan 31, 2016 5:09 pm
Forum: Investing - Help with Personal Investments
Topic: Solo401k EmployEE/EmployER contributions, and ETFs
Replies: 19
Views: 1108

Re: Solo401k EmployEE/EmployER contributions, and ETFs

I have a Solo401k with Vanguard, and decided to separate my EmployEE and EmployER contributions in two different funds. This can be important, as EmployEE and EmployER contributions have different rules regarding withdrawals and such. If you want to maintain this level of separation you just open t...
by tfb
Sun Jan 31, 2016 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: I just paid off $145,000 in student loans in 2.5 years
Replies: 20
Views: 1727

Re: I just paid off $145,000 in student loans in 2.5 years

Thanks everyone! To fill in a few of the blanks I paid this off using income of about $100k/year. That being said I also applied funding from a few other sources including birthday presents, tax refunds - any money at all that came my way. My wife makes a little more than me. Still using the I word...
by tfb
Sun Jan 31, 2016 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: TT prior year returns
Replies: 4
Views: 512

Re: TT prior year returns

Tried to look at prior yr returns, message said--must pay for 2015 first. This is new, I have not encountered this before? Called the help desk 3 times yesterday, 2 hang ups and one to a CSR's desk recording. This is why you should always buy the desktop/laptop program, not the online service. You ...
by tfb
Sun Jan 31, 2016 12:39 am
Forum: Personal Finance (Not Investing)
Topic: WSJ: HSAs Offer Tax Benefits Beyond 401(k)s
Replies: 26
Views: 4543

Re: WSJ: HSAs Offer Tax Benefits Beyond 401(k)s

One should not look only to the tax benefits of the HSA. There are drawbacks to HDHPs. The tax benefits of the HSA may be there, but the HDHP one needs to have to open and contribute to an HSA often has much higher out of pocket costs than traditional plans. Unless you never see a doctor and don't ...
by tfb
Sat Jan 30, 2016 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Combining backdoor Roth and rollover of 401k after-tax contributions
Replies: 11
Views: 1011

Re: Combining backdoor Roth and rollover of 401k after-tax contributions

But your plan works fine if you add another step. 1. Rollover traditional IRA back into 401k so balance of traditional IRA is $0 2. Make $6,500x2 contribution to traditional IRA for 2015 and 2016 3. Convert traditional IRA into Roth IRA using standard backdoor method 4. Once his after-tax 401k cont...
by tfb
Sat Jan 30, 2016 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: FSA related to a new job
Replies: 1
Views: 194

Re: FSA related to a new job

No, only expenses after it starts and before your job ends.
by tfb
Sat Jan 30, 2016 12:21 pm
Forum: Investing - Theory, News & General
Topic: New S&P Target Date funds built on TIPS
Replies: 18
Views: 2555

Re: New S&P Target Date funds built on TIPS

alec wrote:Looks like these are just indices looking for someone to turn into mutual funds.

Is the thread title wrong/misleading then? Judging from the URL in the OP:

benefitspro.com/2016/01/26/new-target-date-indices-built-on-tips?slreturn=1453948736

What do we have here? Indices or funds?
by tfb
Tue Jan 26, 2016 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: TaxCut missing features
Replies: 12
Views: 1351

Re: TaxCut missing features

P.S. H&R Block software also won't e-file if you need to attach a statement. Because I don't e-file it doesn't affect me. It also imports data from fewer places. Because I don't import, it doesn't affect me either. These may affect you if you insist on e-filing or importing.
by tfb
Tue Jan 26, 2016 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: TaxCut missing features
Replies: 12
Views: 1351

Re: TaxCut missing features

what else will TaxCut leave out that TurboTax handled without a problem? I have used H&R Block software, formerly TaxCut, for maybe 10 years. The problem you ran into is one of two areas I know of that H&R Block software decided to punt, the other being the interaction between self-employed...
by tfb
Sat Jan 23, 2016 8:58 pm
Forum: Personal Consumer Issues
Topic: Odd Ball Vanguard Mail Message
Replies: 14
Views: 2371

Re: Odd Ball Vanguard Mail Message

Did you change your password?
by tfb
Sat Jan 23, 2016 8:54 pm
Forum: Investing - Theory, News & General
Topic: PenFed 15 month/1.51% APR CD
Replies: 3
Views: 777

Re: PenFed 15 month/1.51% APR CD

Not that special. You can get 1.5% for a 12-month elsewhere.
by tfb
Sat Jan 23, 2016 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: Couple tax questions
Replies: 3
Views: 590

Re: Couple tax questions

Also, TaxAct is recommending the "Plus" package, which is $14.99 for the federal and $14.99 for the state return. I don't see why I shouldn't just use the free one. The only "special" things we have are itemized deductions, some dividends from my Vanguard taxable account, $60 in...
by tfb
Sat Jan 23, 2016 2:58 pm
Forum: Investing - Help with Personal Investments
Topic: I received notices - What is my company doing with our plan?
Replies: 1
Views: 424

Re: I received notices - What is my company doing with our plan?

BoilerUp wrote:Is there any cause for concern with any of this?

I don't see any. It appears the plan now allows loans. Applying for a determination letter is normal.
by tfb
Sat Jan 23, 2016 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance: 15yr or 30yr + invest?
Replies: 22
Views: 2283

Re: Refinance: 15yr or 30yr + invest?

I wrote this a few years ago: http://thefinancebuff.com/borrow-30-yea ... rence.html

tl;dr version: Do the 15-year. 30-year + invest will eventually win but it takes much longer than people think. The eventual win is also very small.
by tfb
Sat Jan 23, 2016 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct Plus vs TurboTax vs H&R Block for 2015
Replies: 117
Views: 9564

Re: TaxAct Plus vs TurboTax vs H&R Block for 2015

However, I wanted to jump around from topic to topic, and I had trouble doing that. I finally gave up after a short time as patience is not one of my strong points. Now I'm back with TurboTax and moving from topic to topic with ease. Did I give up too quickly with H&R Block? Perhaps it is easy ...
by tfb
Sun Jan 17, 2016 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: Megacorp using Master Trust, High fee 401k plan. Why?
Replies: 20
Views: 1177

Re: Megacorp using Master Trust, High fee 401k plan. Why?

The fee information I have about the corporate plan is two parts. first, brightscope says "Lowest Fees." Second, I found the auditors report, the "Statement of Changes in Net assets Available for Benefits" In the section Deductions, there are two entries "benefits paid to p...
by tfb
Sun Jan 17, 2016 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Megacorp using Master Trust, High fee 401k plan. Why?
Replies: 20
Views: 1177

Re: Megacorp using Master Trust, High fee 401k plan. Why?

They take $171.75 worth of fund shares from my account at the beginning of each quarter. That fee amount is also documented in the fee disclosure. ps - did you just happen to see this thread within 90 minutes of mentioning your name? Anyway, thanks for responding :happy And that amount is flat for ...
by tfb
Sun Jan 17, 2016 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Taxact breached as well - just saw an article in wsj
Replies: 35
Views: 3884

Re: Taxact breached as well - just saw an article in wsj

Rysto wrote:I'm not familiar with how e-filing works in the US. Do you really have to submit your tax return to a private company to e-file?

You do. Here in the US the government only accept e-file submissions via the intermediaries.
by tfb
Sun Jan 17, 2016 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Megacorp using Master Trust, High fee 401k plan. Why?
Replies: 20
Views: 1177

Re: Megacorp using Master Trust, High fee 401k plan. Why?

I work for a very large US employer with over 100,000 US employees. But my 401k plan has very high fixed fees, almost $700 per year per participant. Where do you see the $700 per year per participant number? If you are calculating off the number in the Summary Annual Report, the "plan expenses...
by tfb
Tue Jan 05, 2016 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: New job and Disappearing 401k
Replies: 3
Views: 402

Re: New job and Disappearing 401k

If you were led to believe you would have a 401k but new info says you don't, you can ask for more money.
by tfb
Tue Jan 05, 2016 8:11 pm
Forum: Investing - Help with Personal Investments
Topic: Any reason to not buy Goldman Sachs CDs?
Replies: 21
Views: 2353

Re: Any reason to not buy Goldman Sachs CDs?

stevewolfe wrote:Right, so we agree it's a good rate right now (since it's not last week, October or September).

No, even right now you can get nationally available 2% 3-year and 2.30% 4-year direct CDs. Both are higher than the GS ones shown in OP's screenshot. See latest from depositaccounts.com.
by tfb
Tue Jan 05, 2016 1:27 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401K a no-brainer over company 401k?
Replies: 19
Views: 2176

Re: Solo 401K a no-brainer over company 401k?

One thing to remember is that your employers 401K does not limit the amount you can profit share in a separate Solo 401K. For example: you can defer 18K (Possibly more if they do after-tax) in your employers 401K and then you could potentially do 53K profit sharing into a Solo 401K assuming high en...
by tfb
Mon Jan 04, 2016 9:51 pm
Forum: Investing - Help with Personal Investments
Topic: Any reason to not buy Goldman Sachs CDs?
Replies: 21
Views: 2353

Re: Any reason to not buy Goldman Sachs CDs?

Other than that the rates look relatively poor, I can't see any reason. Compared to? The 3 year 1.75% CD above is better than any nationally available 3 year CD at depositaccounts.com. the five year US Treasury was at 1.73% today by comparison. 1.76% 11-month CD available as recently as last week. ...
by tfb
Mon Jan 04, 2016 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax Premier 2015 Free @ Fidelity (premium customers)
Replies: 35
Views: 5421

Re: Turbo Tax Premier 2015 Free @ Fidelity (premium customers)

Is anyone who got it _not_ at the Private Client level? Did anyone at the Private Client level not get it?
by tfb
Sun Jan 03, 2016 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: ACH transactions on holidays/weekends?
Replies: 36
Views: 1939

Re: ACH transactions on holidays/weekends?

Just to clarify: My bank has a three-day hold on ACH transfers in from other financial institutions. It's a local bank. Even on money pushed in, i.e. transfer initiated by the other financial institution? Hold is typical on money pulled in, similar to depositing a paper check. Placing hold on money...
by tfb
Sun Jan 03, 2016 1:53 pm
Forum: Investing - Help with Personal Investments
Topic: Low risk 529 - best option
Replies: 2
Views: 478

Re: Low risk 529 - best option

Again MetLife seems reputable, but it would be nice if MetLife put in their own statement of guarantee, at least for principal deposits, but can't find one. It's in the text you quoted. The guarantee to the Trust of repayment of amounts deposited under the Funding Agreement and the payment of inter...
by tfb
Sun Jan 03, 2016 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: When is tax software necessary?
Replies: 16
Views: 1537

Re: When is tax software necessary?

Watty wrote:It has been a long time since I paid more than about $20 for federal and state tax software. Last week I got an unusually good deal on the H&R block the software(without that bonus) for about $15 that was posted here.

True. I paid $11 this year for H&R block deluxe federal plus state.
by tfb
Sun Jan 03, 2016 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Help understanding a credit card issue
Replies: 26
Views: 1185

Re: Help understanding a credit card issue

It's called an application for a reason. They are not obliged to accept you despite your high credit scores. As long as they are not declining you for protected reasons (race, gender, age, etc.), when the feeling isn't mutual, just move on.
by tfb
Tue Dec 29, 2015 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax Premier 2015 (PC Download) 39% Off
Replies: 39
Views: 5343

Re: Turbo Tax Premier 2015 (PC Download) 39% Off

frisbee wrote:Is there an advantage to using the local software vs the online app?

Lots of advantages. With online deluxe you'd have to pay for state. Local deluxe + state software includes one state. Online deluxe also doesn't include Schedule D. Local software includes it.
by tfb
Tue Dec 29, 2015 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: PenFed fees
Replies: 17
Views: 1283

Re: PenFed fees

Last week I had a certificate mature at PenFed. The proceeds were deposited into my share account and because PenFed will only allow $5k a day to be ACHed out I initiated a pull from Ally for the full amount. Fast forward 5 days and the transfer fails because unbeknownst to me PenFed charges a $10 ...
by tfb
Mon Dec 28, 2015 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Parallel Taxation
Replies: 21
Views: 1207

Re: Parallel Taxation

The part that bothers me the most is that the 55.5% Marginal Tax Rate happens for Upper Middle Class wage earners with retirement incomes around $62,000, not for the “Rich” retirees with 6 figure incomes. As far as the “Rich” are concerned their Long Term Capital Gains “were” already taxed at a low...
by tfb
Thu Dec 24, 2015 1:08 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401K: Emloyee 2015 Contribution Put in Roth portion of Solo 401K by Mistake
Replies: 5
Views: 464

Re: Solo 401K: Emloyee 2015 Contribution Put in Roth portion of Solo 401K by Mistake

It doesn't sound to me it was put in by mistake. You just changed your mind. There is no recharacterization in 401k. You can't change it after the fact.
by tfb
Wed Dec 23, 2015 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard TurboTax - Not Available 2015?
Replies: 327
Views: 38018

Re: Vanguard TurboTax - Not Available 2015?

Fidelity is offering a free version of TurboTax Premier if you are at an appropriately exalted level. Log in, click "Guidance & Retirement", click "Taxes". If it is available to you, you should see "TurboTax® Online Premier Receive a free federal tax return with e-file....
by tfb
Mon Dec 21, 2015 5:04 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Spartan Total Market Capital Gains Distribution
Replies: 15
Views: 1633

Re: Fidelity Spartan Total Market Capital Gains Distribution

Does anyone know why Fidelity Spartan Total Market (FSTVX) had a capital gain distribution this year? It looks like this is the first time since 2010 they made one. The fund incurred capital gains when it sold some positions. Capital Gains History Date Per Share Amount Reinvestment Price 12/18/15 $...
by tfb
Mon Dec 21, 2015 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard TurboTax - Not Available 2015?
Replies: 327
Views: 38018

Re: Vanguard TurboTax - Not Available 2015?

2015 Block It says $9.95 on the mailing folder. $14.95 if you want the state. iso: https://drive.google.com/open?id=0B5wbKf9nXS7mcGZ6TFJRLTc4NjQ Which version is this? All versions. You get the version you actually buy. Exit before you buy for another $5 off (only offered once). Final price is $9.9...
by tfb
Fri Dec 18, 2015 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard TurboTax - Not Available 2015?
Replies: 327
Views: 38018

Re: Vanguard TurboTax - Not Available 2015?

I hadn't heard of "shareable CD" either. How does one find it? Can you do multiple returns with it, or more generally, are there any limitations relative to the download/CD version? It's a promotional CD that the company mails out to some prospects, and encourages them to share it with ot...
by tfb
Fri Dec 18, 2015 12:29 pm
Forum: Investing - Help with Personal Investments
Topic: IRA to 401k and then backdoor roth?
Replies: 41
Views: 2011

Re: IRA to 401k and then backdoor roth?

And if I don't get this done by the end of the year, can I make both current & prior year contributions to the IRA and convert to the Roth ($11k total), by April 15? You can make the contribution for 2015 anytime from now to April 15, 2016. If you make the contribution in 2015, record it on the...

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