Search found 225 matches

by straws46
Sat Jul 25, 2020 10:59 am
Forum: Personal Finance (Not Investing)
Topic: CARES Act RMD rules
Replies: 4
Views: 362

Re: CARES Act RMD rules

Thank you both.
by straws46
Sat Jul 25, 2020 10:20 am
Forum: Personal Finance (Not Investing)
Topic: CARES Act RMD rules
Replies: 4
Views: 362

CARES Act RMD rules

I took an annual RMD in January along with some qualified charitable distributions. I can repay the RMD before August 31, and I intend to do so. However, I cannot find out how to treat the QCDs. If I treat them as part of the RMD distribution and pay them back so the "rollover" equals the exact amou...
by straws46
Thu Jul 09, 2020 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Does a Car Salesperson Make on a New Car Sale?
Replies: 102
Views: 11437

Re: How Much Does a Car Salesperson Make on a New Car Sale?

You will not get a discount if you pay cash. Financing is a huge money-maker for the dealer. They have a "buy rate" from the financing entity and the interest rate they offer you will be higher. The dealer pockets the difference. Never let them know you're paying cash until you have a firm price.
by straws46
Tue Jun 16, 2020 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Would you rent your house to a famous athlete?
Replies: 104
Views: 8055

Re: Would you rent your house to a famous athlete?

If this is really what you decide to do, standard form leases are aways written in favor of the landlord because they are the only people who buy them. Get a standard form rental agreement for your state from a business supply store. Make sure you read it and understand each provision, and get a hug...
by straws46
Fri Jun 05, 2020 6:00 pm
Forum: Personal Investments
Topic: FDIC Insurance above $250K
Replies: 21
Views: 1260

Re: FDIC Insurance above $250K

Will adding two beneficiaries increase the coverage to 500K? No. The FDIC insurance is for the depositor. Regards, Adding pay on death beneficiaries will change both the nature of the account (from individual to revocable trust) and the amount of insurance (up to $250,000 per pod beneficiary up to ...
by straws46
Tue May 26, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Worst House on the best block?
Replies: 52
Views: 4532

Re: Worst House on the best block?

Be careful with the areas where the homes are being torn down to build new. When an empty lot is worth more than the lot with the old style house on it, there is no incentive to ever maintain the old place. Putting on a new roof or painting the old place is just throwing money away. When there is no...
by straws46
Sun May 24, 2020 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Customer hasn't paid me not worth cost of lawyer but...
Replies: 48
Views: 5386

Re: Customer hasn't paid me not worth cost of lawyer but...

Listen to Cowdogman. A UCC-1 is used to perfect a consensual security interest in personal property. Even if it's not a crime to file an unauthorized UCC-1 in Georgia, it is certainly slander of title. Just keep being persistent.
by straws46
Mon Apr 27, 2020 11:38 am
Forum: Personal Finance (Not Investing)
Topic: How do you explain no COVID19 Stimulus Payment?
Replies: 89
Views: 7433

Re: How do you explain no COVID19 Stimulus Payment?

The same law that authorized the payment also authorized an above the line charitable adjustment, so I can honestly say I received the benefit and it went straight to the Salvation Army whether I received a payment or not.
by straws46
Fri Mar 20, 2020 8:24 am
Forum: Investing - Theory, News & General
Topic: FDIC Coverage Limits - Trying to understand max coverage in a single savings account
Replies: 8
Views: 336

Re: FDIC Coverage Limits - Trying to understand max coverage in a single savings account

One additional thing to consider. If you max out coverage in your trust account, you probably want to go to another institution for any additional accounts. Any P.O.D. account would be lumped in with the trust account, and if you opened additional insured sole owner or joint accounts that would defe...
by straws46
Wed Mar 18, 2020 4:03 pm
Forum: Investing - Theory, News & General
Topic: FDIC Coverage Limits - Trying to understand max coverage in a single savings account
Replies: 8
Views: 336

Re: FDIC Coverage Limits - Trying to understand max coverage in a single savings account

I assume you and your wife are co-trustees and you are each a beneficiary during your lives and upon the death of the last survivor the trust is distributed to the remainder beneficiaries. If there are four remainder beneficiaries, not counting you and your wife, then there are a total of six benefi...
by straws46
Wed Jan 15, 2020 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Trust vs POD vs joint owner vs beneficiary
Replies: 8
Views: 829

Re: Trust vs POD vs joint owner vs beneficiary

It seems in your case a trust may be unnecessary. If you are the sole beneficiary under the trust and if your offspring take in the event you predecease your mother and those offspring are now adults (granted a lot of assumptions) your mother's intentions probably would be met by naming you as Pay O...
by straws46
Wed Jan 01, 2020 2:58 pm
Forum: Personal Consumer Issues
Topic: New Zealand Train trip
Replies: 77
Views: 3695

Re: New Zealand Train trip

We planned a train trip through New Zealand. The train from Auckland to Wellington was a little boring and crowded. The train from Picton to Christchurch was cancelled due to an earthquake and the train from Greymouth back to Christchurch was cancelled due to a fire. Great place to see by car if you...
by straws46
Tue Nov 12, 2019 3:07 pm
Forum: Personal Consumer Issues
Topic: Saving seats on Southwest
Replies: 210
Views: 12507

Re: Saving seats on Southwest

We travel to Asia and Australia on vacations a lot, and we are older so we always go first or business class. We use credit card points, so it is much easier to fly out of LA or Houston. Therefore, we leave a couple days early to get to our jumping off point and usually fly SW. When we come home the...
by straws46
Fri Nov 08, 2019 3:28 pm
Forum: Personal Consumer Issues
Topic: First time in Sydney, Australia
Replies: 12
Views: 867

Re: First time in Sydney, Australia

A trip by boat from circular quay to the Sydney zoo was a fun experience. A day trip to the Blue Mountains was ok. We took the train/subway to and from the airport. It was clean and easy and fast. The highway traffic was bad due to construction and people were missing flights as they sat trapped in ...
by straws46
Wed Oct 30, 2019 11:32 am
Forum: Personal Consumer Issues
Topic: I want a pre-made, wholesome lunch delivered to me daily for under $15. Options?
Replies: 52
Views: 5214

Re: I want a pre-made, wholesome lunch delivered to me daily for under $15. Options?

We used to get Metabolic Meals. Excellent quality and extremely healthy. Delivered to your door. Keep frozen until microwaved. Only negative was the amount of packaging material. Check out their web site. It may be what you're looking for.
by straws46
Thu Oct 24, 2019 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Carrying cash from overseas
Replies: 9
Views: 1014

Re: Carrying cash from overseas

Structuring. If the four divided up the money so no one had more than $10,000 that is structuring. If they can't explain how they obtained the money and the reason for bringing it into the US, they could be charged with money laundering.
by straws46
Mon Oct 21, 2019 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Entrance Fee for Retirement Community
Replies: 55
Views: 8080

Re: Entrance Fee for Retirement Community

Good advice, above. A factor to consider in the refundable/non-refundable fee scenarios is the credit-worthiness of the CCRC holding the money and whether your refundable deposit is held separately in a manner where it is not accessible to creditors or for general working capital purposes Good advi...
by straws46
Mon Oct 21, 2019 9:43 am
Forum: Personal Investments
Topic: Computershare to Schwab, individual to joint
Replies: 7
Views: 719

Re: Computershare to Schwab, individual to joint

It is a little longer process than most inter-broker transfers because from Computershares your broker must initiate a transfer through the Depository Trust Company. Most other inter-broker transfer are done by the ACAT system (automated customer account transfer). DTC transfer takes more time and m...
by straws46
Sun Oct 20, 2019 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Capturing Solar Investment Tax Credit for Church
Replies: 1
Views: 278

Re: Capturing Solar Investment Tax Credit for Church

Very common practice for entities that are tax exempt. If they can get transferable tax credits (as in low income housing) they can just sell the tax credits for about 90% of face value (the purchaser gets the federal tax credit but the spread is subject to state tax). Otherwise, they can find a thi...
by straws46
Sun Oct 13, 2019 6:05 pm
Forum: Personal Investments
Topic: Fine Art Investments
Replies: 77
Views: 5400

Re: Fine Art Investments

If you are going to invest in art, buy originals. Lithographs maybe, but not prints. I chose to invest in fine wine. Can't sell it for what I paid but I don't have an issue with liquidity. I'm writing that investment off a glass at a time.
by straws46
Sat Oct 12, 2019 12:58 pm
Forum: Personal Investments
Topic: Deferred Comp Question
Replies: 12
Views: 1471

Re: Deferred Comp Question

As a follow up, the deferred comp is included in line 1 (wages) but not included in line 3 (social security wages), so I assume line 3 is what they look at to see if you would be penalized for excess income. But I would verify that with a visit to my local social security office.
by straws46
Fri Oct 11, 2019 9:18 am
Forum: Personal Investments
Topic: Deferred Comp Question
Replies: 12
Views: 1471

Re: Deferred Comp Question

I would definitely talk to a tax expert and the social security administration. I believe any income you receive for services rendered in prior years does not affect your benefits. Also, if you elect payment over 10 years it is treated as pension income for purposes of state and local taxation. The ...
by straws46
Wed Oct 09, 2019 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: POA Reimbursement
Replies: 48
Views: 3351

Re: POA Reimbursement

Can you? See RCW 11.25.120. Should you? ???
by straws46
Sun Oct 06, 2019 1:37 pm
Forum: Personal Consumer Issues
Topic: Desperate for mattress help (Awara)
Replies: 8
Views: 759

Re: Desperate for mattress help (Awara)

We've had a Flobed for 10 years now. Natural latex. Can't beat it. Will probable last another 10. We will replace it with another Flobed. Check out their website.
by straws46
Tue Oct 01, 2019 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Are banks required to freeze accounts when notified of account holder's death
Replies: 35
Views: 4373

Re: Are banks required to freeze accounts when notified of account holder's death

UCC article 4 covers paper drafts; UCC Article 4a covers electronic transfers. That article is expanded, and can even be superseded, by NACHA operating rules and Federal Reserve Regs. The FDIC web site would be a great place to get educated in this area.
by straws46
Tue Oct 01, 2019 11:30 am
Forum: Personal Consumer Issues
Topic: DW and I "need" new advanced medical directives, etc.
Replies: 11
Views: 977

Re: DW and I "need" new advanced medical directives, etc.

If you are having a lawyer prepare wills, trusts and other estate documents you might as well get the advance directives from the same source just to make sure everything is witnessed or attested properly. Otherwise, no reason not to use self-prepared forms for the medical docs in my opinion.
by straws46
Mon Sep 30, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: How can I reduce tax exposure?
Replies: 14
Views: 1671

Re: How can I reduce tax exposure?

I would say thank you for your support. Formerly in the military and now as a taxpayer. At least you live in Florida.
by straws46
Sun Sep 29, 2019 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Are banks required to freeze accounts when notified of account holder's death
Replies: 35
Views: 4373

Re: Are banks required to freeze accounts when notified of account holder's death

There were statutes that required lessors of safe deposit boxes to file wills with the probate court. Those often conflicted with later laws giving joint lessors the right to enter the box after death of one owner. In the state I practiced the conflict was finally removed by a 1994 law but it was dr...
by straws46
Sun Sep 29, 2019 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: Revocable Living Trust - naming as beneficary
Replies: 8
Views: 1115

Re: Revocable Living Trust - naming as beneficary

Lott is correct on the tax ID. A revocable living trust where the grantor is a trustee is a disregarded entity for tax purposes and you must use the grantor's number.
by straws46
Sun Sep 29, 2019 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Are banks required to freeze accounts when notified of account holder's death
Replies: 35
Views: 4373

Re: Are banks required to freeze accounts when notified of account holder's death

It is not a statutory or regulatory requirement that I know of. But if a bank honors a check after the owner is dead it can be liable (see sec 4-405 of the Uniform Commercial Code). Also, banks are liable to return social security payments received after the death of the depositor, so banks have eve...
by straws46
Thu Sep 19, 2019 2:58 pm
Forum: Personal Consumer Issues
Topic: Vacation ideas for February
Replies: 48
Views: 4327

Re: Vacation ideas for February

Too short a time to go to Asia, Australia or NZ in my opinion. We took a trip to Buenos Aires and a ferry across to Uruguay last year. Very enjoyable. Particularly enjoyed Montevideo. Big advantage is the less significant time difference from US time zones. No jet lag.
by straws46
Mon Sep 09, 2019 3:57 pm
Forum: Personal Consumer Issues
Topic: Costco washer/dryer delivery: tipping?
Replies: 54
Views: 6329

Re: Costco washer/dryer delivery: tipping?

The guys who installed our garage doors just left $40 richer due to this thread. I probably would not have thought about tipping until I saw this thread. But I'm glad I did --- and so are they.
by straws46
Fri Sep 06, 2019 1:03 pm
Forum: Investing - Theory, News & General
Topic: Can you lose money by buying CDs?
Replies: 24
Views: 2719

Re: Did investors who bought Lehman Brothers CDs lose money?

Lehman Brothers was not a bank. They did not issue CDs. If you bought brokered CDs through them, their failure did not affect the CDs they sold. After the collapse many surviving entities obtained bank charters, so now you can buy CDs from Goldman Sachs and General Motors Acceptance Corp (aka Ally),...
by straws46
Wed Sep 04, 2019 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Do you consider your house as part of your bond portfolio?
Replies: 52
Views: 2646

Re: Do you consider your house as part of your bond portfolio?

No, but I consider my automobile as my entire international allocation.
by straws46
Fri Aug 23, 2019 2:11 pm
Forum: Investing - Theory, News & General
Topic: Help me understand stock dividend yield
Replies: 19
Views: 1544

Re: Help me understand stock dividend yield

If a dividend yield sounds too good to be true, it probably is. Yields are high right before a troubled company slashes its dividend. Always compare within the same sector to see if a yield is abnormal. Compare utilities to utilities, energy companies to other energy companies, financials to financi...
by straws46
Fri Aug 23, 2019 1:00 pm
Forum: Investing - Theory, News & General
Topic: Preferred Stock
Replies: 27
Views: 1882

Re: Preferred Stock

I own some preferred stocks and some municipal bonds. Both are being redeemed. Almost every bond with a coupon over 3.5% I have is being called and paid off with the proceeds of new issues. Since I always bought with the "yield-to-worst" in mind, I haven't suffered except being unable to replace the...
by straws46
Thu Aug 22, 2019 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Lender Release fees of $75 for Mortgage Payoff, Advice?
Replies: 19
Views: 1774

Re: Lender Processing/Release fees of $300 for Mortgage Payoff, Advice?

With respect to the $75 fee, the language authorizes it only if paid to a third party. Typically lenders fill out the blanks on a deed of release themselves as that has been held not to constitute the practice of law, but they can't charge a fee for it since charging a separate fee for filling out a...
by straws46
Wed Aug 21, 2019 3:23 pm
Forum: Investing - Theory, News & General
Topic: Why investment complexity is appealing and simplicity isn't
Replies: 65
Views: 3941

Re: Why investment complexity is appealing and simplicity isn't

I was always fascinated by complex investment vehicles. From auction rate securities to credit enhanced private activity bonds, I loved to parse the myriad underlying indentures, standby letters of credit, remarking agreements, ad infinitum. Of course, I worked as a lawyer in the finance industry. M...
by straws46
Tue Aug 20, 2019 2:21 pm
Forum: Personal Investments
Topic: Cost basis for stock grant - original company gone
Replies: 6
Views: 420

Re: Cost basis for stock grant - original company gone

Receiving a stock grant is only a taxable event if they vest immediately. Otherwise the vesting is the taxable event and the value is taxed as ordinary income and the company withhold taxes as of the vesting date. That value is your original basis. If you end up with shares for which you can't figur...
by straws46
Tue Aug 20, 2019 2:14 pm
Forum: Personal Consumer Issues
Topic: Ponder this, BH's... is Ben & Jerry's worth it?
Replies: 142
Views: 12244

Re: Ponder this, BH's... is Ben & Jerry's worth it?

Two things about this thread made me smile. Just thinking about B & J Phish Food and RadAudit's post.
by straws46
Sat Aug 10, 2019 11:45 am
Forum: Personal Consumer Issues
Topic: Advice on short Vietnam visit
Replies: 30
Views: 2851

Re: Advice on short Vietnam visit

We spent a week each in HCMC, Danang and Hanoi. Loved the experience and the people. Best tip I could give is to fly business class domestically. The security process alone is worth the extra money. It was a couple years ago but we got to go through security the same as the flight crew. No lines!
by straws46
Wed Aug 07, 2019 1:29 pm
Forum: Personal Consumer Issues
Topic: Korea early Dec
Replies: 7
Views: 894

Re: Korea early Dec

Just spent a few weeks in Soeul and Busan and had no need for cash. Tipping is not required but that is about the only thing I used cash for. Transportation cards can be purchased at most stations and they are good for the subway as well as taxis, but all the taxis accepted credit cards.
by straws46
Fri Aug 02, 2019 10:56 am
Forum: Personal Consumer Issues
Topic: Acura RDX vs Audi Q5
Replies: 98
Views: 10925

Re: Acura RDX vs Audi Q5

I had owned nothing but Acuras until 2013 when I bought a new A6. Great car but the depreciation on an Audi is huge. Only buy a new one if you're going to keep it for a long time. I might compare the Q5 to an MDX also.
by straws46
Wed Jul 31, 2019 12:26 pm
Forum: Personal Investments
Topic: Municipal bonds
Replies: 20
Views: 1737

Re: Municipal bonds

It is not legal to charge a commission and a spread. A broker may charge one or the other. Commissions are disclosed so most brokers do not charge them. Instead they "mark" up the bond. The terminology is a "mark" rather than a "spread," but that is just semantics. You can go to EMMA and track all p...
by straws46
Thu Jul 25, 2019 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Way out of financial catastrophe?
Replies: 94
Views: 15437

Re: Way out of financial catastrophe?

Your biggest asset is your human capital so you will be able to recover from this problem over time. The issue is making sure you have the time. Walking away is usually not a good answer. A foreclosure will ruin your credit for years and a foreclosure may leave you owing a large deficiency balance e...
by straws46
Fri Jul 19, 2019 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Undo Joint Account with Parents?
Replies: 38
Views: 3190

Re: Undo Joint Account with Parents?

Treas. Reg. § 25.2511-1(h)(4) spells it out clearly: With bank accounts and most brokerage accounts that call for the registration of securities in “street name,” Dad will not have made a reportable gift if he simply adds Junior’s name as a joint owner. Reportable gift transfers occur only if Junior...
by straws46
Mon Jul 15, 2019 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 15818

Re: House not appraising for amount we were offered!

Appraisals are based on the reported sale prices of comparable properties. In a rising market an MAI appraisal will always be low since prices have been rising since the dates of the older sales used as comps. Same thing in reverse in a falling market. since most buyers will include a financing cont...
by straws46
Thu Jun 20, 2019 11:44 am
Forum: Personal Consumer Issues
Topic: 5 days in Como, Italy
Replies: 15
Views: 1462

Re: 5 days in Como, Italy

We were traveling through that area in March and stayed in Monza for a couple days rather than Milan and enjoyed the park and raceway and old town area. Also liked the American style hamburger joint. Compare and see what fits your preference.
by straws46
Fri Jun 07, 2019 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Do I adjust capital gains/losses for short term trading fees?
Replies: 10
Views: 636

Re: Do I adjust capital gains/losses for short term trading fees?

Livesoft referred you to the right place. This is what you will find there: Amount realized. The amount you realize from a sale or trade of property is everything you receive for the property minus your expen- ses related to the sale (such as redemption fees, sales commissions, sales charges, or exi...