Search found 127 matches

by albireo13
Sat Mar 04, 2023 12:41 pm
Forum: Personal Investments
Topic: Mark Zoril from PlanVision
Replies: 80
Views: 11537

Re: Mark Zoril from PlanVision

My accountant sends me PDFs via gmail which are password protected.
I feel good about it.
by albireo13
Wed Mar 01, 2023 9:11 am
Forum: Personal Finance (Not Investing)
Topic: How much of your financials are you sharing with other family members?
Replies: 121
Views: 11186

Re: How much of your financials are you sharing with other family members?

DH and I have kept our finances separate since we married 28 years ago ( second marriage, each with adult children at the time of marriage). Mine include an inheritance and I have shared with my 2 DDs that I have enough to cover any LTC I may need, and they won’t have to worry about that. Whatever is left will be their inheritance. My DH’s children know they will receive a nice inheritance from their father. Others than that, they know nothing about our finances or net worth. If there comes a time that I need to share more with my DDs, I will. They have a copy of my will. And they know where “the book” is located that details information about my financial accounts, credit cards, income sources, medical, as well as bills and how they are p...
by albireo13
Tue Feb 28, 2023 7:37 am
Forum: Personal Investments
Topic: Raymond James confession
Replies: 61
Views: 7844

Re: Raymond James confession

lws wrote: Sun Feb 26, 2023 11:24 am Your main task is to convince the lady of the house to abandon RJ.
Good luck.
Yes.
I can see that moving out of RJ to index funds that I manage (AA rebalancing) can put me in the position of being "responsible" for future performance.
Perhaps we split where our IRAs go.

The Vanguard PAS seems like a nice compromise, although I prefer FIDO.

One concern I have is considering the possibility of me getting hit by a bus tomorrow, or future disability (dementia). I think my wife has no interest
in managing the nest egg.
by albireo13
Tue Feb 28, 2023 6:58 am
Forum: Personal Investments
Topic: Advice for in-laws with recent inheritance and no retirement savings
Replies: 24
Views: 2780

Re: Advice for in-laws with recent inheritance and no retirement savings

I have learned, never mix money and family!

You can help by getting them a fee-only advisor to review and advise.
Above all, let them make the decisions.
by albireo13
Mon Feb 27, 2023 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Where do you bank and why? 2023 Edition
Replies: 185
Views: 14828

Re: Where do you bank and why? 2023 Edition

I actually hate BoA.

You can never get a real person on the phone
to talk to about an issue. You have to schedule an appointment to come in.

They always put a sales job on you for Merrill Edge when
you have an appointment.

They dropped the ball some years ago and forgot to pay my
property taxes. They held our mortgage and we had escrow
for the property taxes. We found out when the town sent us
letters regarding late fees and threatening a lien.
Finally got BoA to admit fault … “oops, sorry”
by albireo13
Mon Feb 27, 2023 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Where do you bank and why? 2023 Edition
Replies: 185
Views: 14828

Re: Where do you bank and why? 2023 Edition

We have:
BoA - for normal income bill paying activity
BoA business account - for my consulting work
My CU - from where I worked. Very nice to deal with but no offices.

Fido CMA/brokerage - I keep for small investments
Wife’s CU - she still likes to use it as she is still working


We need to considate !
by albireo13
Sun Feb 26, 2023 7:49 am
Forum: Personal Investments
Topic: Raymond James confession
Replies: 61
Views: 7844

Re: Raymond James confession

Interesting. Yes, there is a Schwab office about 30min drive from me.
I have no experience with Schwab though. I will have to look into it.

I have a Fidelity brokerage/CMA account and have used FIDO for years. In general I have been happy with them. They also have a nearby office.

Does Fidelity offer something similar to this, or to Vanguard PAS?
I took a look on their website and didn't find anything.
by albireo13
Sat Feb 25, 2023 8:46 am
Forum: Personal Investments
Topic: Raymond James confession
Replies: 61
Views: 7844

Re: Raymond James confession

Ooh. Looks interesting. Will take a look.
Thx
by albireo13
Sat Feb 25, 2023 7:04 am
Forum: Personal Investments
Topic: Raymond James confession
Replies: 61
Views: 7844

Re: Raymond James confession

Rob Relyea wrote: Fri Feb 24, 2023 9:07 pm
albireo13 wrote: Fri Feb 24, 2023 4:00 pm I confess I still have my IRA at RJ.
albireo13 - quoted you in this post: viewtopic.php?p=7136445#p7136445

Wondering if you could please share a Raymond James csv file with me (after anonymizing the data in it)?
My portfolio is hovering around $1M right now.
Here is a list of the portfolio, all IShares funds, followed by % of the portfolio.


Fund
cash 2.19
IEMG 0.53
QLTA 11.60
IEFA 9.79
IVV 28.19
MBB 4.01
IVW 1.79
IVE 24.97
GOVT 16.92
by albireo13
Fri Feb 24, 2023 6:54 pm
Forum: Personal Investments
Topic: Raymond James confession
Replies: 61
Views: 7844

Re: Raymond James confession

Unfortunately my wife is convinced that I have no financial acumen and an advisor is the safest way to go.

If it was just me I would move it right away into low cost
index funds.
by albireo13
Fri Feb 24, 2023 4:18 pm
Forum: Personal Investments
Topic: Raymond James confession
Replies: 61
Views: 7844

Re: Raymond James confession

The 1% ….

They could put a pile of bricks, or a chimpanzee, in charge of my portfolio and I'd still lose 1%.

I am barely into 7 figures so 1% is roughly 10k.
by albireo13
Fri Feb 24, 2023 4:16 pm
Forum: Personal Investments
Topic: Raymond James confession
Replies: 61
Views: 7844

Re: Raymond James confession

Yeah, I am going to look at transaction activity.
Are they churning?
Fees for each transaction?
by albireo13
Fri Feb 24, 2023 4:00 pm
Forum: Personal Investments
Topic: Raymond James confession
Replies: 61
Views: 7844

Raymond James confession

I confess I still have my IRA at RJ. I retired 2 yrs ago. Their fee is advisory fee is 1% and the funds are all ETFs, at an AA of 65/35. No stock trading. I checked all the funds and the dollar-cost-average ER of all the funds is 0.09%. I am happy with this. However, now I am worrying about hidden fees. Are there things I should look for? After I get my blooming taxes done, I plan to get an account activity of all last year and sift through it, looking for fees here and there. I have an idle Fidelity brokerage account and I plan to transfer over there. I am 67yo and would love a “set and forget” portfolio. One thing is my wife likes RJ and is opposed to my plan. That is my challenge, I know. I am doing more research and am open to suggestio...
by albireo13
Thu Feb 16, 2023 8:01 am
Forum: Personal Investments
Topic: Retirement Planning Advice
Replies: 66
Views: 8648

Re: Retirement Planning Advice

Ask Vanguard if they will reimburse you for the Wells Fargo charges. When I moved my Ameritrade closings to Fidelity they picked up all the charges from Ameritrade.
by albireo13
Wed Feb 15, 2023 1:36 pm
Forum: Personal Investments
Topic: fee-only advisor for portfolio/retirement plan review?
Replies: 1
Views: 401

fee-only advisor for portfolio/retirement plan review?

I am interested in finding a fee-only advisor to review our retirement plan. Hopefully this can be done on an hourly basis, in a few meetings. Not looking for someone to manage our finances. Situation: Wife is still working, with a decent 403b account and expecting a decent pension. She plans to retire 2 years from now. I am 67yo, retired with a small pension and started my SS already. My investments are all in one tIRA at Raymond-James, using a RJ financial planner. I started at RJ before I knew much about investing. Anyway, my plan is to move my IRA out of RJ to probably Fidelity where I can self-manage it. What I'd like to do is find a fee-only advisor who can review our situation, and portfolio, and provide advice. Is this reasonable? A...
by albireo13
Mon Feb 06, 2023 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: What Age & How Much Money? (Your Plan)
Replies: 171
Views: 18659

Re: What Age & How Much Money? (Your Plan)

We are but humble amateurs compared to most.
I am retired, 67yo. Wife still working until 2025. At that point,
our combined SS and pensions will more than cover our living expenses.
Current nest egg is at $1.6M. AA is 60/40
by albireo13
Sun Feb 05, 2023 11:04 am
Forum: Personal Finance (Not Investing)
Topic: What Age & How Much Money? (Your Plan)
Replies: 171
Views: 18659

Re: What Age & How Much Money? (Your Plan)

I am but a humble lightweight compared to you all.

67yo, currently retired. Wife still working, will retire in 2025 at 65yo.

Current nest egg: $1.6M
When wife retires, our combined SS and pensions will easily exceed
our annual expenses so we will live off that and keep nest egg
for emergencies or lumpy expenses (new roof on house, new car, etc).
by albireo13
Tue Jan 24, 2023 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Worst Financial Fears
Replies: 23
Views: 2417

Re: Worst Financial Fears

Congress will raid Social security to fund other projects.
Too many still think of social security as a hand out.
by albireo13
Sun Jan 22, 2023 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Home improvement: HELOC or pull from nest egg?
Replies: 6
Views: 684

Re: Home improvement: HELOC or pull from nest egg?

It doesn't have to be an either/or. Of course there are an infinite number of options for pulling the money (what % to finance, what % to pull from savings). I pick these two scenarios as endpoints. Pulling 100% from nest egg is a valid option. We have run multiple projections and it doesn't put our financial life plan at risk at all. Two projects, done this year so it can be looked at as one "financial project". Home equity is >$250K right now. Current mortgage has many years left on it. We can afford the cash flow of a loan, with some spending adjustments. This is our last house and we expect to be here for up to 20years before a CCRC perhaps. A return on the project? Well, we would get up to 20 years of enjoyment from the resul...
by albireo13
Sun Jan 22, 2023 7:10 am
Forum: Personal Finance (Not Investing)
Topic: Home improvement: HELOC or pull from nest egg?
Replies: 6
Views: 684

Home improvement: HELOC or pull from nest egg?

Hi, I am 67yo, and retired. My wife is still working full time (another 3 years). Looking forward toward 2023, we plan to do major home improvement projects on our house ... close to $100K. We still have a mortgage (fixed at 2.625%) which we are comfortable keeping, and plenty of equity. For income, we have my wife's salary, my modest pension, and my SS. This puts us up in the 22% tax bracket for 2023, it looks like. Anyway, my thoughts were on how best to fund the projects. Two options:: 1. pull it all from our nest egg (traditional IRA) If we do this, it will show up at our top bracket and we get hammered with 22% tax on it. Ugh. 2. take out a HELOC or home equity loan. Estimated loan rate is about 8% lately. If we do this, the interest i...
by albireo13
Mon Dec 12, 2022 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: 529 plan, daughter not going to college
Replies: 56
Views: 9484

Re: 529 plan, daughter not going to college

sureshoe wrote: Mon Dec 12, 2022 10:13 am
CaptainT wrote: Mon Dec 12, 2022 8:59 am You mentioned having multiple kids you are helping get a start in life. One idea is to pay education expenses for other kid with this money and use money otherwise would have used on other kid on daughter
I was going to suggest a flavor of this. Really depends on your financial situation.
The other kids are all done with college expenses. Too late.
by albireo13
Sun Dec 11, 2022 7:13 am
Forum: Personal Finance (Not Investing)
Topic: 529 plan, daughter not going to college
Replies: 56
Views: 9484

Re: 529 plan, daughter not going to college

Pdxnative wrote: Sat Dec 10, 2022 6:55 pm As suggested, you could just have the distribution made to her. The penalty and tax is only on the earnings portion. If her tax bracket is low this year, this might be a good time for this. Or you could make several distributions over time depending on her income each year.
That seems to be the best case scenario, IMO but, how would that work?

Since the parent is the owner of the asset, would not the IRS consider that as two separate events?:
1. distribution of the 529 fund (taxable to owner)
2. gifting of the proceeds to the daughter
by albireo13
Sat Dec 10, 2022 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: 529 plan, daughter not going to college
Replies: 56
Views: 9484

529 plan, daughter not going to college

We saved up funds in a 529 plan for our daughter and she has never gone to college. It looks likely she won't ever.
She is currently self-employed running a small business.
Now, we have to figure out what to do with the funds.

We would like to use the assets for her benefit. We have helped out our other children a bunch.
It looks like to gain access to the funds we'd have to bite the bullet and pay the 10% penalty + taxes (on earnings only).

I was wondering if there is a way to somehow transfer the ownership of the 529 assets to her. That way the taxes would be at her rate
(much lower than ours).

Anyone else deal with this situation?

Thx
by albireo13
Tue Dec 06, 2022 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable trust concerns
Replies: 4
Views: 762

Re: Irrevocable trust concerns

My elder parents had an irrevocable trust which caused some difficulties. My brother was trustee. Anyway, when it came time they decided to move to a CCRC, they were not eligible due to lack of funds. They had solid assets but, their assets, including the house, was in the trust and therefore not considered theirs.
In the end they had the irrevocable trust dissolved in order
to deal with it. I recall it took most of a year and was a PITA.
by albireo13
Thu Nov 17, 2022 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Paypal and the IRS?
Replies: 22
Views: 2279

Re: Paypal and the IRS?

I have been buying and selling used items mostly to try them out and then resell to try something else. No attempt or expectation of profit.
by albireo13
Mon Nov 14, 2022 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Paypal and the IRS?
Replies: 22
Views: 2279

Re: Paypal and the IRS?

It is not a business.
by albireo13
Sun Nov 13, 2022 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Paypal and the IRS?
Replies: 22
Views: 2279

Re: Paypal and the IRS?

Here is an example. I bought a used item for $1400 early this year using Paypal. I may sell it before the end of they year for slightly less … maybe $1300. This by itself will trigger a 1099k.
This is mot a business. I am thinking I treat this as a capital loss in my filings.
by albireo13
Sun Nov 13, 2022 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Paypal and the IRS?
Replies: 22
Views: 2279

Paypal and the IRS?

I see that now, for year 2022, the IRS is requiring Paypal to report to the IRS a 1099K on money gained (goods and services) over $600/yr to the IRS to be taxable as income.
I have been doing a lot of buying/selling over the years with PP, all hobby gear. It amounts to be much over $600. I have a question ...

Can I reconcile this as capital gains/losses in my return?
For example, I bought an expensive telescope a year ago and sold it this year for >> $600. I can go back through records but, how does one reconcile this against the Paypal reports to the IRS?

Thx
by albireo13
Wed May 11, 2022 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Consulting work: out of state time?
Replies: 10
Views: 1075

Re: Consulting work: out of state time?

Surprisingly, I got a quick reply from Mass. DOR ...

"Dear Taxpayer, Thank you for your recent inquiry.
The work from your New Hampshire office would not be taxable, however if work or services are performed in Massachusetts that portion would be taxable to Massachusetts.
Thank you for visiting our website, The Massachusetts Department of Revenue"

So, it looks like I would need to pay non-resident Ma. tax for just the hours I physically worked in Ma. I keep accurate records of all my hours so, that should be easy to manage.

Thanks all.
by albireo13
Tue May 10, 2022 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Consulting work: out of state time?
Replies: 10
Views: 1075

Re: Consulting work: out of state time?

Well I emailed my questions to the Mass. state DOR.
I hope to get a reply on it to clarify.
by albireo13
Tue May 10, 2022 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Consulting work: out of state time?
Replies: 10
Views: 1075

Consulting work: out of state time?

Hi all, I have been doing some part time consulting in my retirement and have created an LLC for such. It has all been remote from my home office. I live in NH which has no state income tax and that is where my LLC is located as well. I am looking to sign on with another client which is likely to require me to visit their office/lab occasionally for on-site work. Their location is a neighboring state (Ma.), which has income tax. I am wondering is, will I have to declare part of my income as out-of-state to the other state ? My legal place of business is in NH. I plan to keep good books as to hours spent at each location. The key thing is that the bulk of the work will be done remotely in my office. Perhaps I will calculate what portion of m...
by albireo13
Thu Mar 31, 2022 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Would you upgrade kid's car?
Replies: 125
Views: 6352

Re: Would you upgrade kid's car?

66k miles? Whats wrong with that?

Nope. Time to cut the umbilical cord.
by albireo13
Thu Feb 10, 2022 7:25 am
Forum: Personal Finance (Not Investing)
Topic: tax on inheritance?
Replies: 4
Views: 892

Re: tax on inheritance?

This helps.
I've been in touch with the executor. Most of the assets were in stock and dividend income dribbled in after death and before disbursement to heirs.
Thanks all for the replies.
by albireo13
Wed Feb 09, 2022 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: tax on inheritance?
Replies: 4
Views: 892

tax on inheritance?

My last parent passed away October 2020 and left a modest inheritance.
The process to recognize beneficiaries took several months. I finally was granted the inherited assets in Jan 2021.
During this time, there was a build up of stock dividends in the inheritance. In other words, the accounts earned income
during this period. My question is, is this part of the non-taxable inheritance or, is it considered dividend income on my part?
It is a tax liability issue. For issues of capital gains, the step-up basis is established at time of death. But this is not gains.

I am having a hard time getting a straight answer on this. Has anyone else run into this?

Thx
by albireo13
Fri Jan 07, 2022 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Started consulting … getting stiffed by previous employer
Replies: 28
Views: 3678

Started consulting … getting stiffed by previous employer

I retired a year ago from a large corporation after working
there > 30 yrs.
Last year ago I was contacted asking for some part time help.
I worked out the details and signed agreements. I put in some significant hours starting last summer but haven't seen a penny.
I stopped in Nov until I got paid. I am still waiting while they are going through their “process” and documentation gymnastics.

Pretty pissed that they would treat me this way after working there so long.
by albireo13
Wed Jan 05, 2022 10:49 am
Forum: Personal Finance (Not Investing)
Topic: moving money to Fido ... a question
Replies: 8
Views: 1000

moving money to Fido ... a question

I am freshly retired a year ago, wife still working. She has her 403b account savings with Fido. I currently have a modest pension and also a tIRA with Raymond James. Our RJ advisor has been helpful in our retirement planning and the funds are low cost, AA is 60/40. However, the RJ fee is 1%. Anyway, with > $1M in the tIRA I want to move it all to avoid the fees. I am thinking of Fidelity. I already have a Fido brokerage account and a CMA with small amount of $$ in it. My goal would be to invest it all in low cost index funds, ETFs. I am pretty much a hands-off investor. I don't want to be constantly managing the account. What I'd want is to be able to do is setup monthly "paychecks" to be sent to us from the funds, much like a pe...
by albireo13
Fri Dec 03, 2021 6:59 am
Forum: Personal Consumer Issues
Topic: Scanning print photos and slides
Replies: 16
Views: 1371

Re: Scanning print photos and slides

I am going through the same thing myself. My parents passed on last year and I inherited boxes of their old 35mm slides and prints. My Dad was into photography as a hobby and threw away nothing! We also have our own boxes of slides/prints to go through as well. For prints, I have been using a Canon flatbed scanner, the 9000F Mark II. It does a great job and I do 3 prints per scan. For slides, I decided to get a slide scanner that does "good enough". I bought this recently: https://www.amazon.com/gp/product/B086DX4253/ref=ppx_yo_dt_b_asin_title_o07_s00?ie=UTF8&psc=1 I have done a few test slides and so far I am happy with it. Next is to forge ahead. Having done this before for a friend, a few words of wisdom ... 1. use a fine b...
by albireo13
Fri Nov 26, 2021 4:53 pm
Forum: Personal Consumer Issues
Topic: Insurance for Consulting LLC?
Replies: 8
Views: 756

Re: Insurance for Consulting LLC?

Well, the large company client demands I have 1M/2M liability, Workers Comp, and professional auto insurance .... minimum.
All this despite I am a single member-LLC doing remote work for them.

It ends up being another $1000+ out of my pocket.
Of course, this was a last minute requirement put out by Megacorp.


I am thinking of backing out. This reminds me why I retired ... the large company BS!
by albireo13
Wed Nov 24, 2021 10:45 am
Forum: Personal Consumer Issues
Topic: Insurance for Consulting LLC?
Replies: 8
Views: 756

Insurance for Consulting LLC?

Hi,
I just started a single-member LLC in order to do engineering consulting work. This will be part-time and mostly remote office work. I have a few potential clients I am talking with at the moment. I plan to obtain some form of Business liability insurance, $1M/$2M aggregate at least. It was also suggested that I consider Professional liability, as being more useful for consulting work. It is a bit more expensive and I would likely go for $1M coverage on that. I am unsure if that is necessary.

This is all pretty new to me and I was wondering if there is anyone else here who has had experience with this.
Any recommendations or advice?

Thx
by albireo13
Fri Sep 24, 2021 9:21 pm
Forum: Personal Investments
Topic: elderly MIL's assets
Replies: 17
Views: 3134

Re: elderly MIL's assets

I believe burn rate is around $5K/month now. That's $60K/yr. Not counting inflation and rising CCRC costs, we are looking at 4yrs. She is very concerned about rising CCRC costs and would like some growth.

Does Fidelity offer something like low ER balanced funds?
by albireo13
Wed Sep 22, 2021 6:38 pm
Forum: Personal Investments
Topic: elderly MIL's assets
Replies: 17
Views: 3134

Re: elderly MIL's assets

Thanks.
Cash flow is what it is. She is pretty frugal, just trying best to stretch what she has.
by albireo13
Wed Sep 22, 2021 6:14 pm
Forum: Personal Investments
Topic: elderly MIL's assets
Replies: 17
Views: 3134

Re: elderly MIL's assets

She is looking to move into Fidelity Morningstar Multi Asset Income ETF.
It seems to be a roughly 60/40 AA and expense ratio of 0.6%. Not necessarily bad choice but,
maybe a 50/50 fund with low ER might be better. Thoughts on other good options at Fidelity?

Unfortunately, I have no visibility into accounts or cash flow so ...
by albireo13
Mon Sep 20, 2021 8:12 am
Forum: Personal Investments
Topic: elderly MIL's assets
Replies: 17
Views: 3134

Re: elderly MIL's assets

Thanks.
I have a call with her soon and hope to get more info on cash flow, etc.
Yes, I believe the CCRC has a trust to cover situations where residents run out of money. I will confirm.
by albireo13
Mon Sep 20, 2021 6:53 am
Forum: Personal Investments
Topic: elderly MIL's assets
Replies: 17
Views: 3134

elderly MIL's assets

My Mother in Law is 94yo but, her assets are dwindling. She has ~$250K left and is concerned about running out of money.
She is in a CCRC right now. I am trying to get details on her investments and cash flow.
She has roughly half in Schwab in Morningstar multi asset Income fund (iYLD).
The other half I don't know yet.

She is thinking of moving to Fidelity and is looking for some guidance. I am thinking some low expense Bond heavy fund(s).
Any good ideas or suggestions?
I am not an investment guru myself so, am reluctant to recommend any funds in particular at this time.

Thx
by albireo13
Thu Aug 26, 2021 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: forming an LLC?
Replies: 19
Views: 1961

Re: forming an LLC?

Looks like getting an agent is the only thing I am uncertain of. It seems I can't name myself as the agent for my LLC.
Am I required to pay a service for this? What do other folks do?
by albireo13
Thu Aug 26, 2021 6:53 am
Forum: Personal Finance (Not Investing)
Topic: forming an LLC?
Replies: 19
Views: 1961

Re: forming an LLC?

hachiko wrote: Wed Aug 25, 2021 9:04 pm NH has an entity level tax on LLCs if I recall correctly.
Yes, if total gross business income is over $50K/yr I would need to file a return with NH.
by albireo13
Wed Aug 25, 2021 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: forming an LLC?
Replies: 19
Views: 1961

Re: forming an LLC?

I have a meeting next Tues with my CPA. I chatted with him on the phone and it seems fairly straightforward.
I am in New Hampshire.
by albireo13
Wed Aug 25, 2021 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: forming an LLC?
Replies: 19
Views: 1961

Re: forming an LLC?

spuriousproposal wrote: Wed Aug 25, 2021 2:00 pm States vary a lot with LLCs, but I filed to open my LLC directly online with WA state earlier this year. Took about 30 minutes.
Did you do it directly yourself or did you use one of the online services like I had mentioned?

If I can just do it myself I will do so. I want to keep it simple. I will check out what my state has to offer.
by albireo13
Wed Aug 25, 2021 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: forming an LLC?
Replies: 19
Views: 1961

Re: forming an LLC?

Probably not a big advantage but, the company I am going to work with is asking for invoices to be submitted from an entity like an LLC, not just an individual. It could come in handy for other things as well down the road.
by albireo13
Wed Aug 25, 2021 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: forming an LLC?
Replies: 19
Views: 1961

forming an LLC?

Hi,
I am retired but am looking to do some part-time consulting work. I plan to form an LLC, with myself as the only member.
It should be fairly plain vanilla. Just myself as a consultant. No plan to expand or have multiple clients.
The LLC will hold no assets. Just billable income and basic tax deductions for work expenses. I expect revenue to be not huge ...
< $20K over a year.

I am looking at how best to create the LLC. I could work with a lawyer in my state or, go with online services. There seem to be many, such as IncFile, Swyftfilings, Zenbusiness, etc. How legitimate are these? Is there any advantage to pay a business lawyer to do this for me?

Any relevant experiences to share would be great. Thanks.