Search found 2485 matches

by tomd37
Thu Feb 23, 2017 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: IRS share federal tax information with states?
Replies: 7
Views: 756

Re: IRS share federal tax information with states?

In my state I am aware of the fact that for the past three or four years the state has been playing catch-up on the comparison of federal tax returns to state tax returns at the rate of two or three years at a time. I bet there are quite a few surprised state residents out there by now! :x
by tomd37
Mon Feb 06, 2017 12:21 pm
Forum: Personal Consumer Issues
Topic: Consumer Reports Magazine or Online
Replies: 15
Views: 1391

Re: Consumer Reports Magazine or Online

Confirming what RudyS said. I called CR this morning and an online subscription without paper subscription is $35 for a single year. With a paper subscription it is $20 for a single year. Was not thinking fast enough and did not inquire about multi-year online subscription prices. I have had a conti...
by tomd37
Sun Feb 05, 2017 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Schedule C Question
Replies: 8
Views: 648

Re: Schedule C Question

I don't understand why you would continue to file Schedules C and SE each if your actual net earnings are not $400 or more annually. If net earnings do not meet that threshold then I see no need to report under Schedule C and SE. Why pay self-employment tax when not required? I think any such net in...
by tomd37
Sun Jan 29, 2017 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Parents as dependents on tax return
Replies: 54
Views: 2931

Re: Parents as dependents on tax return

This year, as dependents on your return, you must include their income when calculating your modified adjusted gross income (MAGI). Also as dependents on your return you are responsible for their MEC and have to acknowledge as to whether or not they are covered by some type of insurance. The MEC ins...
by tomd37
Sun Jan 29, 2017 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Parents as dependents on tax return
Replies: 54
Views: 2931

Re: Parents as dependents on tax return

Another subject and question, as mentioned earlier by a poster. Do they have healthcare minimum essential coverage (MEC) and what is its source? If listed as dependents on your return that subject will arise and you may or may not have a penalty for not having MEC depending on your individual circum...
by tomd37
Sun Jan 29, 2017 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Parents as dependents on tax return
Replies: 54
Views: 2931

Re: Parents as dependents on tax return

Never mentioned filing status of MFS. From the details you provided you appear to be entitled to claim a dependency exemption for each your parents as your qualifying relative dependent. If they happen to file a return to get the $10 back just make sure they don't claim a personal exemption for eith...
by tomd37
Sun Jan 29, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Parents as dependents on tax return
Replies: 54
Views: 2931

Re: Parents as dependents on tax return

Yurusa, More info might be helpful. How old are your parents, do you even need them as dependent exemptions on your tax return, that is what is your taxable income with and without them as dependents after your own deductions and family exemptions? It is age dependent, but he might be eligible for E...
by tomd37
Sun Jan 29, 2017 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Income tax deductible - Part B & D Medicare Premiums?
Replies: 8
Views: 641

Re: Income tax deductible - Part B & D Medicare Premiums?

The cost of parts B & D may be conidered as itemized medical deductions on your 2016 Schedule A to the extent they and other qualified medical expenses exceed either 10% of AGI for those under age 65 or 7.5% for those 65 or older. If one person of a couple using filing status MFJ is 65 or older ...
by tomd37
Fri Jan 27, 2017 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: QCD and H&R Block tax Software
Replies: 3
Views: 216

Re: QCD and H&R Block tax Software

Glad you got it straightened out Don. I've been doing volunteer tax preparation services for fourteen years in the AARP Foundation Tax Counseling for the Elderly (TCE) and the IRS Volunteer Income Tax Assistance (VITA) programs and it bugs the heck out of me when something does not come out the way ...
by tomd37
Fri Jan 27, 2017 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: QCD and H&R Block tax Software
Replies: 3
Views: 216

Re: QCD and H&R Block tax Software

Don - Never used HRB software but suspect there is probably some way to enter the taxable portion of the total distribution and some block to check indicating that the difference between the two amounts represents the QCD amount. I would go back over that particular entry from start to finish lookin...
by tomd37
Fri Jan 27, 2017 1:46 pm
Forum: Personal Consumer Issues
Topic: Speed Queen
Replies: 10
Views: 1419

Re: Speed Queen

:thumbsup therub
by tomd37
Fri Jan 27, 2017 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: MFJ vs. MFS
Replies: 5
Views: 740

Re: MFJ vs. MFS

My experience in doing volunteer tax preparation services for Tax Counseling for the Elderly (TCE) and Volunteer Income Tax Assistance (VITA) programs for fourteen years is that in 98% of the cases taxpayers will pay more taxes filing separately than filing jointly. I suggest you go to http://www.ir...
by tomd37
Fri Jan 27, 2017 11:16 am
Forum: Personal Consumer Issues
Topic: Speed Queen
Replies: 10
Views: 1419

Re: Speed Queen

Goodman60 Have had a washing machine in our home since we married 50 years ago. Have had personal experiences with the old Bendix tumbling drum washers starting back in mid 1940s, top-load with agitator, front-load high efficiency, top-load high efficiency, and now back to Speed Queen top-load with ...
by tomd37
Fri Jan 27, 2017 10:05 am
Forum: Personal Consumer Issues
Topic: Speed Queen
Replies: 10
Views: 1419

Re: Speed Queen

I just called their customer service number 800-552-5475 and they do not manufacture a top-loading machine without an agitator. As a side note, we recently replaced our six year old Whirlpool Cabrio HE (no agitator) top-loading washing machine with a Speed Queen top-loading machine with electronic c...
by tomd37
Thu Jan 26, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: are 1099's due to be filed 1/31/17 for 2016?
Replies: 8
Views: 505

Re: are 1099's due to be filed 1/31/17 for 2016?

Refunds will be held up if taxpayer is claiming the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). The Child Tax Credit (CTC) does not apply to the delay in sending refunds.
by tomd37
Sun Jan 22, 2017 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Do I have to file 8606 for indirect rollover
Replies: 9
Views: 445

Re: Do I have to file 8606 for indirect rollover

Assuming it is distribution code G (rollover) it is non-taxable. On electronic filing it will show non-taxable automatically with rollover noted. On a paper filing you will have to annotate the 1040 line 15 properly as non-taxable as mentioned by sport and jebmke.
by tomd37
Sun Jan 22, 2017 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Do I have to file 8606 for indirect rollover
Replies: 9
Views: 445

Re: Do I have to file 8606 for indirect rollover

What distribution code was shown in box 7 of the 1099-R and are you using a paper or electronically filed return?
by tomd37
Thu Jan 19, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Final Income Tax Return
Replies: 5
Views: 970

Re: Final Income Tax Return

IRS Form 1310, Statement of Person Claiming Refund Due a Deceased Taxpayer, is a one-page simple form that should be attached to the final federal tax return. In doing tax returns for the AARP Foundation Tax Counseling for the Elderly (TCE) I occasionally use this form. And yes, I agree it is best t...
by tomd37
Sun Jan 15, 2017 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Help with taxes
Replies: 27
Views: 1956

Re: Help with taxes

And I have one or two new clients a year wanting to file MFS and when they tell me some specifics they usually come out better financially by filing MFJ and utilizing the 8379 Injured Spouse form. PS: Certified again yesterday using the L&L system. First time for that, but they finally convinced...
by tomd37
Sun Jan 15, 2017 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Help with taxes
Replies: 27
Views: 1956

Re: Help with taxes

Drmoneytails Give very careful consideration to using a filing status of MFS. There are a number of special rules that apply when using that filing status, some of which may apply to you. The rules can be found of pages 21-22 of IRS Publication 17 which is available online at http://www.irs.gov. I r...
by tomd37
Thu Jan 12, 2017 5:36 pm
Forum: Personal Consumer Issues
Topic: How much do you typically spend in a restaurant?
Replies: 171
Views: 9840

Re: How much do you typically spend in a restaurant?

Older couple in early 80's. Just went out last night to local good quality restaurant, but not upscale. Each had a glass of wine @ $9, shared one $8 appetizer, each had entrée for about $26. Total bill including 9.25% state and local sales tax and 20% tip was $100. Thinking back the last year we can...
by tomd37
Sat Jan 07, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Amex blue cash - when does the $6500 threshold "restart"?
Replies: 16
Views: 1366

Re: Amex blue cash - when does the $6500 threshold "restart"?

Blevine - Any indication from AMEX that your account number will remain the same with the new card? At 80 my memory is not as good as it used to be and hopefully I will not need to learn a new number. :wink: Just looked online at my 2016 year-to-date report to see specifically what I spend on grocer...
by tomd37
Sat Jan 07, 2017 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Amex blue cash - when does the $6500 threshold "restart"?
Replies: 16
Views: 1366

Re: Amex blue cash - when does the $6500 threshold "restart"?

Blevine, Was this a separate letter from AMEX or part of your monthly billing? Am trying to determine if the timing is related in any way to my anniversary date or if they have just selected one date to make the change effective. I have had this card for 16 years now and would consider changing over...
by tomd37
Sat Jan 07, 2017 8:36 am
Forum: Investing - Theory, News & General
Topic: How do I go about this? (selling VG fund and wanting to purchase shares of one VG fund I own and another is non VG fund)
Replies: 1
Views: 191

Re: How do I go about this? (selling VG fund and wanting to purchase shares of one VG fund I own and another is non VG f

Why not call your VG brokerage representative and get the answer directly from them. Maybe they will even do the total transaction for you while on the call. If they cannot do it for you in total they might be able to do part and then tell you how and when to accomplish the remainder.
by tomd37
Mon Jan 02, 2017 1:11 pm
Forum: Investing - Theory, News & General
Topic: Navy Federal CU New Certificate Offering
Replies: 6
Views: 1474

Re: Navy Federal CU New Certificate Offering

I saw that 5 and 7 year offering from Pen Fed, but do not want to ties up funds for that length of time with those early withdrawal penalties. :thumbsdown
by tomd37
Sun Jan 01, 2017 12:11 pm
Forum: Investing - Theory, News & General
Topic: REGISTRATION FOR THE 2016 BOGLEHEAD CONTEST
Replies: 667
Views: 29813

Re: REGISTRATION FOR THE 2016 BOGLEHEAD CONTEST

Saphomd,
This post is referring to the 2016 contest. I have not seen the 2017 contest open yet.
by tomd37
Sat Dec 31, 2016 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should we itemize or take the standard deduction?
Replies: 8
Views: 701

Re: Should we itemize or take the standard deduction?

Check out the "special rules" under the married filing separately filing status contained on pages 21-22 of IRS Publication 17. Also don't forget if you use the MFS filing status you both must take either the standard deduction or itemized deductions; one cannot itemize and the other take ...
by tomd37
Sat Dec 31, 2016 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Charitable Distribution: "public charity" definition
Replies: 15
Views: 636

Re: Qualified Charitable Distribution: "public charity" definition

Pshonore - There was a similar notation to make in the software program for Tax-Aide last year indicating a QCD contribution and the amount of it. Have not yet noticed anything in the new TaxSlayer program being utilized in Tax-Aide program this year, but strongly suspect it is there also. If my mem...
by tomd37
Wed Dec 28, 2016 3:40 pm
Forum: Personal Consumer Issues
Topic: Residential energy property costs
Replies: 2
Views: 208

Re: Residential energy property costs

Sounds like it's a line 22 entry. Don't forget that the cumulative total of all energy credits claimed anytime after tax year 2006 cannot exceed $500.
by tomd37
Tue Dec 27, 2016 9:28 pm
Forum: Personal Consumer Issues
Topic: Cutting Trees in the Back Yard
Replies: 27
Views: 2100

Re: Cutting Trees in the Back Yard

Carlton - Did that person really grind the stump and roots 3 to 4 feet into the earth? Have never seen a grinder that could go that deep!
by tomd37
Tue Dec 27, 2016 9:51 am
Forum: Personal Consumer Issues
Topic: Cutting Trees in the Back Yard
Replies: 27
Views: 2100

Re: Cutting Trees in the Back Yard

I would suggest that you get quotes from several companies and ensure that they employ and use certified arborists. A mature tree can be worth thousands of dollars in property value. Ask for a copy of their insurances and call the insurance company yourself to ensure the insurance is in effect. A pr...
by tomd37
Thu Dec 22, 2016 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Reliable washer/dryer brands
Replies: 42
Views: 3052

Re: Reliable washer/dryer brands

Just took delivery two weeks ago of matching Speed Queen top-load washer (with agitator) and electric dryer, both with electronic controls guaranteed for five years. Manual controls are guaranteed for three years. Niece bought same set a little over a year ago and loves them. You won't find Speed Qu...
by tomd37
Tue Dec 20, 2016 11:43 am
Forum: Investing - Theory, News & General
Topic: Wellesley dividends
Replies: 6
Views: 1002

Re: Wellesley dividends

:annoyed
by tomd37
Mon Dec 19, 2016 10:21 pm
Forum: Personal Consumer Issues
Topic: Humidifier controversy
Replies: 18
Views: 2827

Re: Humidifier controversy

Just want to share a bit of information to this discussion of humidifiers added to a heating system. We have lived in middle Tennessee for the past twenty years and have always felt we needed to add moisture to the home during the winter. To achieve that years ago we installed a Skuttle brand spray ...
by tomd37
Sun Dec 18, 2016 10:52 am
Forum: Investing - Help with Personal Investments
Topic: Set it and forget it Portfolio
Replies: 8
Views: 1321

Re: Set it and forget it Portfolio

Rags - VWENX is Wellington (ADM). Most of us know what you meant but you might want to edit your original post.
by tomd37
Fri Dec 16, 2016 5:10 pm
Forum: Local Chapters and Bogleheads Community
Topic: Nashville / Mid-TN Chapter Master Thread
Replies: 36
Views: 4052

Re: Nashville / Mid-TN Chapter Master Thread

As far as I know there was no meeting held.
by tomd37
Thu Dec 15, 2016 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Branch from our tree fell on neighbor's house ??
Replies: 60
Views: 5573

Re: Branch from our tree fell on neighbor's house ??

Along the lines of this subject, my home backs and sides up to common area owned and maintained by the homeowners association. There are several trees on their property to the side of my home from which branches overhang my roof. I just finished some tree work on my trees and part of that work was t...
by tomd37
Wed Dec 14, 2016 10:55 am
Forum: Forum Issues and Administration
Topic: What happens when you speak in TICKER language.
Replies: 44
Views: 7335

Re: What happens when you speak in TICKER language.

If I remember correctly, and it has been thirty-six years since I retired from the Navy, in military correspondence you always spelled something out and put the acronym in brackets behind it the first time in the correspondence. From that point onward you could use the acronym. This could be applied...
by tomd37
Mon Dec 12, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Homeowners insurance rebuild cost
Replies: 9
Views: 1383

Re: Homeowners insurance rebuild cost

Watty is clearly stating specific things that I had in mind when posting. There are a lot of unforeseen things. Thanks Watty.
by tomd37
Mon Dec 12, 2016 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Homeowners insurance rebuild cost
Replies: 9
Views: 1383

Re: Homeowners insurance rebuild cost

I suspect there is a difference between selling price if you were to sell today and the replacement cost if your home was destroyed by fire for example with the latter being more. I realize one is not insuring the value of the land itself when buying home insurance, but you are insuring the value of...
by tomd37
Sun Dec 11, 2016 2:53 pm
Forum: Investing - Theory, News & General
Topic: What is a good balance between US and international stocks?
Replies: 6
Views: 733

Re: What is a good balance between US and international stocks?

Speaking of right balance between US and Int'l stock funds, does the participant's age play into the equation? Is there a difference between the accumulator and the person deep into retirement (80)? I am still pondering Jack Bogle's statements that in his thinking no international is absolutely requ...
by tomd37
Sat Dec 10, 2016 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: That second bank
Replies: 14
Views: 1847

Re: That second bank

Friar J, Like you I have always maintained an account of some type, since 1961 in my case, with NFCU and have really never had an account at a local brick & mortar until settling here the Nashville area in retirement. Sometimes one just does need a local bank to help with certain things that ten...
by tomd37
Sat Dec 10, 2016 5:17 pm
Forum: Investing - Theory, News & General
Topic: To Use Vanguard PAS Or Not
Replies: 11
Views: 1443

Re: To Use Vanguard PAS Or Not

"$295,000 in 21 Vanguard funds that were set up for me by a friend of mine who is a certified financial planner." And you are claiming him as "a friend"? :oops:
by tomd37
Wed Dec 07, 2016 5:01 pm
Forum: Investing - Theory, News & General
Topic: Navy Federal CU New Certificate Offering
Replies: 6
Views: 1474

Re: Navy Federal CU New Certificate Offering

Just remember that at NFCU the month of May is military appreciation month and they usually have some great certificate offers. Last year it was 15-months at 3% APY. :moneybag
by tomd37
Wed Dec 07, 2016 12:56 pm
Forum: Investing - Theory, News & General
Topic: Navy Federal CU New Certificate Offering
Replies: 6
Views: 1474

Navy Federal CU New Certificate Offering

Just learned that NFCU has a new Share/IRA/ESA add-on certificate offering at 2.00% APY for 17 months with a $50 minimum and $50,000 maximum limit with one per member allowance.
by tomd37
Tue Dec 06, 2016 11:13 pm
Forum: Investing - Help with Personal Investments
Topic: Determining cost basis in taxable account - "uncovered" shares
Replies: 10
Views: 630

Re: Determining cost basis in taxable account - "uncovered" shares

And it is very embarrassing when you are the LC and you don't think about the situation up front. :annoyed
by tomd37
Tue Dec 06, 2016 9:50 pm
Forum: Investing - Help with Personal Investments
Topic: Simplyfying to 1-Fund Portfolio?
Replies: 13
Views: 1628

Re: Simplyfying to 1-Fund Portfolio?

Itstoomuch - Both drawing SS and I have military pension. Articpineapple - Am well aware of passive vs active and lack of international stocks. I tend to follow Jack Bogle and his no more than 20% international position, if at all. I can see your points on US stock diversity with what I have vs limi...
by tomd37
Tue Dec 06, 2016 8:49 pm
Forum: Investing - Help with Personal Investments
Topic: Simplyfying to 1-Fund Portfolio?
Replies: 13
Views: 1628

Simplyfying to 1-Fund Portfolio?

As we age into our early 80’s I am looking to possibly simplifying our current tax-advantaged 4-fund portfolio consisting of Vanguard total stock, I-T bond, international stock, and REIT index funds in a 40% stock and 60% bond ratio. I am thinking about this from a couple of different perspectives; ...

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