Search found 196 matches

by Hulk
Mon Aug 06, 2018 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with 401K from an old job?
Replies: 5
Views: 582

Re: What to do with 401K from an old job?

Hi all, I am writing to ask for some advice with regard to my 401K balance when moving to a new job. Per my understanding, you have the following options with regard to what to do: 1. Leave it with the current employer 2. Roll over into the new 401K plan, if the new employer allows this 3. Roll ove...
by Hulk
Mon Aug 06, 2018 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Is 12.4% SE tax on first $127,200 per business or per tax payer?
Replies: 5
Views: 612

Re: Is 12.4% SE tax on first $127,200 per business or per tax payer?

I'm a bit confused by your situation. Do you have a job and 2 businesses or just two businesses? Is your other 401k (the one you didn't call an i401k) from a business you own or from a job? if you own it, what's the owenrship stake? The 401k situation is dependent on the answers to these questions....
by Hulk
Mon Aug 06, 2018 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Is 12.4% SE tax on first $127,200 per business or per tax payer?
Replies: 5
Views: 612

Re: Is 12.4% SE tax on first $127,200 per business or per tax payer?

Schedule SE includes self-employment income from all sources. It is not specific to a single business. See the IRS instructions for the the form. The Social Security wage ceiling is per taxpayer. You should consider hiring an accountant. I have a CPA but we are not seeing eye to eye on several poin...
by Hulk
Mon Aug 06, 2018 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Is 12.4% SE tax on first $127,200 per business or per tax payer?
Replies: 5
Views: 612

Is 12.4% SE tax on first $127,200 per business or per tax payer?

Hello, I had 2 businesses in 2017. In business one I made >$127,200 and therefore paid the max SE tax of 12.4% * 127,200 + 2.9% * total profit. In business two I made $1,000. The SE tax due on business two is only $1000 * 0.9235 * 2.9% = $26 and deduction for SE tax $13 on business two, correct? Bec...
by Hulk
Mon Jul 30, 2018 9:20 am
Forum: Personal Consumer Issues
Topic: Any CPA recommendations, Houston area?
Replies: 1
Views: 182

Any CPA recommendations, Houston area?

Hello all, I have been going round and round with my CPA and I think it may be time to find another one. Any recommendations in the Houston area? Everything I have learned on Boggleheads and White Coat Investor has been so unbelievably helpful over the past 3 years. However, my CPA is unfamiliar wit...
by Hulk
Wed May 30, 2018 8:52 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Re: Lawyer instead of buyer's real estate agent worked great!

But if he still gets his 3% it shouldn't be a problem. But I don't want him getting 6% just because I came to the table with no buyer's agent. I want that 3% to reduce MY costs. Generally it works best to use a buyers agent who will take that 3% commission and rebate part of it to you. Otherwise th...
by Hulk
Wed May 30, 2018 8:23 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Re: Lawyer instead of buyer's real estate agent worked great!

A bit off topic but I have never understood the ethicality of having the buyer's agent paid a commission based the sale price of the home. Reeks of conflicts of interest not altogether different than a commissioned investment broker who gets paid more to put you in more expensive funds. +1! A few m...
by Hulk
Wed May 30, 2018 8:14 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Re: Lawyer instead of buyer's real estate agent worked great!

I totally agree that the title is misleading. Buying, or Selling, a home without using a real estate attorney is risky. No realtor or broker takes the place of an attorney, and even if one is also an attorney, unless you retain them in that position, they aren't. We were never trying to avoid using...
by Hulk
Wed May 30, 2018 8:01 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Re: Lawyer instead of buyer's real estate agent. Experience anyone?

I'd say the new thread title is misleading as you ended up using a realtor that simply rebated her commission to you. That is not the same as only using an attorney (in this case, understood that the same person doubled as both). The moral is that anything is negotiable, but it only worked because ...
by Hulk
Wed May 30, 2018 7:42 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Re: Lawyer instead of buyer's real estate agent. Experience anyone?

I am glad it worked out for you. I am curious, how did you find this house without a realtor? Specifically, did you see the house before making a bid? I ask because there are rules around that (which vary by state I believe). You generally cannot go see a house saying you have no agent and then sho...
by Hulk
Mon May 28, 2018 9:38 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Re: Lawyer instead of buyer's real estate agent. Experience anyone?

Not interested in "customer service" for tens of thousands of dollars! You're not paying for it nor do you have a choice in the matter. The commission is paid by the seller. Well the deal is done and I am sitting in my new home. Thought I would update the thread in case anyone is interested or want...
by Hulk
Fri Apr 20, 2018 1:56 pm
Forum: Personal Consumer Issues
Topic: How much off MSRP should one expect?
Replies: 23
Views: 2622

Re: How much off MSRP should one expect?

Vulcan wrote:
Fri Apr 20, 2018 1:46 pm
MSRP is irrelevant. Negotiate down from Invoice +$200.
How do you find the invoice price?
by Hulk
Fri Apr 20, 2018 1:28 pm
Forum: Personal Consumer Issues
Topic: How much off MSRP should one expect?
Replies: 23
Views: 2622

How much off MSRP should one expect?

Thanks for all the great responses on used vs. new car! I am leaning new, if nothing else to get me out of this rabid hole time suck!!! Sheesh, I havent been able to get anything done today. Ive seen a range from 0 to 17% off MRSP. What is common? Good deal? etc Also, I noticed some posts mentioning...
by Hulk
Fri Apr 20, 2018 11:08 am
Forum: Personal Consumer Issues
Topic: Do you buy new or used cars?
Replies: 113
Views: 8550

Do you buy new or used cars?

Just curious what all you responsible, wise bogleheads are doing. My budget for a new car for my wife is about 40K, which is totally arbitrary. I could spend more or less with cash and it really wouldn't change much, just how much more index funds I'll buy this year. I have never bought a new car an...
by Hulk
Sun Apr 15, 2018 7:21 pm
Forum: Investing - Help with Personal Investments
Topic: Back door Roth IRA, 8606 form conflict with accountant
Replies: 6
Views: 636

Re: Back door Roth IRA, 8606 form conflict with accountant

So I contributed 5500 to my traditional IRA the first week of January 2017, kept it in a money market so no growth. Then a few days later in January 2017 I rolled the entire thing into my Roth IRA. Then a few days later put it in an S&P index fund instead of an MM account. Did nothing else all year...
by Hulk
Sun Apr 15, 2018 6:50 pm
Forum: Investing - Help with Personal Investments
Topic: Back door Roth IRA, 8606 form conflict with accountant
Replies: 6
Views: 636

Re: Back door Roth IRA, 8606 form conflict with accountant

Hello, My accountant is struggling to fill out the 8606 form correctly. I learned about the BD Roth IRA through White Coat Investor and have done it per his excellent tutorial https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/#comment-482400 However, my accountant has filled in line 14 a...
by Hulk
Sun Apr 15, 2018 4:32 pm
Forum: Investing - Help with Personal Investments
Topic: Back door Roth IRA, 8606 form conflict with accountant
Replies: 6
Views: 636

Back door Roth IRA, 8606 form conflict with accountant

Hello, My accountant is struggling to fill out the 8606 form correctly. I learned about the BD Roth IRA through White Coat Investor and have done it per his excellent tutorial https://www.whitecoatinvestor.com/backdoor-roth-ira-tutorial/#comment-482400 However, my accountant has filled in line 14 as...
by Hulk
Wed Apr 04, 2018 4:27 pm
Forum: Personal Consumer Issues
Topic: Any way to raise credit score 3 points in a month?
Replies: 16
Views: 1570

Any way to raise credit score 3 points in a month?

I am buying a house and the loan I am getting on 30 yr fx is 3.75 with 1 point. Great rate historically speaking but the lender had quoted me 3.625 with one point. I had told him a credit score of over 800, but it came back 804, 797, 792 and he has to use the middle one. He said he could recheck it ...
by Hulk
Wed Mar 28, 2018 6:15 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Re: Lawyer instead of buyer's real estate agent. Experience anyone?

michaeljc70 wrote:
Wed Mar 28, 2018 4:15 pm
Hulk wrote:
Tue Mar 27, 2018 7:34 pm
Not interested in "customer service" for tens of thousands of dollars!
You're not paying for it nor do you have a choice in the matter. The commission is paid by the seller.
Everybody keeps saying that but its not exactly true. Depends on how you look at it and everything is negotiable.
by Hulk
Tue Mar 27, 2018 7:34 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Re: Lawyer instead of buyer's real estate agent. Experience anyone?

Not interested in "customer service" for tens of thousands of dollars!
by Hulk
Sat Mar 24, 2018 6:50 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 5329

Lawyer instead of buyer's real estate agent? Experience anyone?

Anyone have success using a lawyer instead of a real estate agent to close on a house? I feel like with the internet today, a buyer's agent is just not necessary. I can figure out what houses I like searching online and then go see them in either an open house or with the seller's agent. The informa...
by Hulk
Thu Dec 21, 2017 5:34 pm
Forum: Investing - Help with Personal Investments
Topic: Dave Ramsey Style Vanguard Portfolio?
Replies: 51
Views: 7760

Re: Dave Ramsey Style Vanguard Portfolio?

When you spoke to one of Dave's endorsed local providers with the heart of a teacher, what did they say? I met with one of Dave's ELPs about 7 years ago. At that time, I was 220k in med school debt and didn't know anything about investing. Not what an IRA, 401k, mutual fund vs index fund was, and c...
by Hulk
Wed Dec 13, 2017 2:29 pm
Forum: Investing - Help with Personal Investments
Topic: i401k that allows mega backdoor Roth IRA
Replies: 5
Views: 661

Re: i401k that allows mega backdoor Roth IRA

Let's assume because of the large K1 contribution, that your K1 income is >= $127,200. In that case your 1/2 SE tax on $1,000 will be $1,000 * 0.9235 = $923.50 * 2.9% / 2 ~= $35. Your net self-employment earnings will be $1,000 - $35 = $965. Excellent explanation, thank you so much. I do have a que...
by Hulk
Wed Dec 13, 2017 10:26 am
Forum: Investing - Help with Personal Investments
Topic: i401k that allows mega backdoor Roth IRA
Replies: 5
Views: 661

Re: i401k that allows mega backdoor Roth IRA

It is not clear to me that you understand that your business needs to have net self-employment earnings in the current year or any prior year to adopt a one-participant 401k. Also, only to the degree that there are net self-employment earnings left after any traditional/Roth 401k contributions, can...
by Hulk
Tue Dec 12, 2017 2:23 pm
Forum: Investing - Help with Personal Investments
Topic: i401k that allows mega backdoor Roth IRA
Replies: 5
Views: 661

i401k that allows mega backdoor Roth IRA

Hello all, I am setting up an i401k as a landing spot for my old 410k. I am wondering if I can provide a second benefit for myself, a mega backdoor Roth IRA. Do and of the plan documents for i401ks at various brokerage companies allow for after-tax contributions and in-service withdrawals? My wife a...
by Hulk
Mon Dec 04, 2017 3:49 pm
Forum: Personal Consumer Issues
Topic: Why is an EIN needed for i401k?
Replies: 4
Views: 441

Why is an EIN needed for i401k?

Hello all, I am considering rolling an old 401k into an i401k to create a more clean separation from my former company (of which I was a partner), which frankly had a rough exit. They are asking/pressuring me to roll into an IRA and I have explained that I do a BD Roth IRA and therefore could not, w...
by Hulk
Sat Oct 28, 2017 7:22 pm
Forum: Personal Consumer Issues
Topic: Stucco vs Brick
Replies: 10
Views: 1424

Stucco vs Brick

Hello all, Can someone give me some insight into a brick vs stucco home in terms of long term durability and value? My internet research told me that they are fairly comparable in upfront cost, though their was certainly differing opinions on this. But what about over the next 40 years for maintenan...
by Hulk
Tue Jun 13, 2017 10:27 am
Forum: Investing - Help with Personal Investments
Topic: Ally Bank - Is this a safe/best place to stash some cash?
Replies: 108
Views: 31137

Re: Ally Bank - Is this a safe/best place to stash some cash?

I use Ally (and synchrony)
FDIC insured.
Whats the problem?
by Hulk
Sun Apr 09, 2017 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Malpractice tail
Replies: 9
Views: 2202

Malpractice tail

Hi all, Anyone have experience shopping malpractice tail when leaving a group? Would appreciate any advice, leads. The current insurance company we use has quoted me about 11k, which may not be that bad sadly, but I would like to shop it around and see if I can get it much lower. Btw, cant get nose/...
by Hulk
Wed Feb 01, 2017 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: One more can I afford $1.5M house
Replies: 56
Views: 5186

Re: One more can I afford $1.5M house

3PKWzh9 wrote:A clear yes –– you have to do it; rents are only going up in (what I assume is) the Bay Area.

And I'd add that you are not paying your fair share of taxes and should be made to pay more.

(Just kidding.)

hahah. kind of... :annoyed
by Hulk
Tue Jan 10, 2017 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: Would you make a non-qualified withdrawal from daughter’s 529?
Replies: 1
Views: 287

Would you make a non-qualified withdrawal from daughter’s 529?

…for the purpose of re-investing the 14k (put in last year) right back into an in-state 529 for the tax benefit? You cant separate the initial investment from gains so I would pay taxes and 10% penalty on the $214 it has gained so far, so maybe $100. I have a fidelity visa rewards cc that goes into ...
by Hulk
Sun Jan 08, 2017 4:05 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover 401k into New 401K instead of IRA to preserve backdoor IRA?
Replies: 11
Views: 1041

Re: Rollover 401k into New 401K instead of IRA to preserve backdoor IRA?

I would certainly maintain the ability to do a BD Roth IRA by keeping 401k in 401k (new or old employer is fine. Could you not just keep old 401k with old employer? You have that right with 135k in there. Or rolling to new employers 401k is fine too) Also, a 410k provides better asset protection tha...
by Hulk
Sun Jan 01, 2017 9:50 pm
Forum: Investing - Help with Personal Investments
Topic: Was my 529 contribution in 2016 or 2017?
Replies: 2
Views: 400

Was my 529 contribution in 2016 or 2017?

Hello, I decided to make a last minute contribution to my daughter's 529 at 7pm on Dec 31. I got an email confirmation shortly thereafter confirming the transfer, but it also stated that it would not be completed for 1-2 business days. And the money has not yet been withdrawn from my checking accoun...
by Hulk
Sun Jan 01, 2017 9:36 pm
Forum: Investing - Help with Personal Investments
Topic: The DIY-529 - seeking feedback
Replies: 18
Views: 1651

Re: The DIY-529 - seeking feedback

Hi all, After much consideration, I have decided that a 529 plan is not the best fit for a college savings vehicle. It has one clear advantage: the earnings are exempt from federal income tax. However, I feel that all of the negatives associated with this account outweigh the positives: earnings ma...
by Hulk
Sat Dec 24, 2016 10:49 pm
Forum: Investing - Help with Personal Investments
Topic: HSA accounts
Replies: 9
Views: 1857

Re: HSA accounts

I use HSA bank and have been happy with them. Fairly low fees. I believe it costs 5.50/month if your balance is below $5,000 and mine is because it is all invested. I prefer to use my HSA as a stealth IRA and pay for medical expenses out of pocket. With HSA bank, you invest through TD Ameritrade and...
by Hulk
Tue Dec 20, 2016 10:16 pm
Forum: Personal Consumer Issues
Topic: More maintenance costs for expensive old house
Replies: 13
Views: 1515

More maintenance costs for expensive old house

Hey all, What are your thoughts on a buying 50-75 year old house that has been completely remodeled vs a new home, in the 1-1.5 million dollar range? We will be moving to a HCOL area next year and are looking to purchase. Most of the homes my wife is most interested in are from the 1940s and 1950s t...
by Hulk
Sun Dec 18, 2016 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: Grandparent wants to max gift 529, but Im confused.
Replies: 20
Views: 2542

Re: Grandparent wants to max gift 529, but Im confused.

Thanks to all for the helpful responses. I understand more, but I guess the crux of my uncertainty remains. Here is an excerpt from of the helpful articles. "Caution: The IRS has not yet indicated whether a contribution you make to a 529 account owned by someone else will be treated as two gifts, th...
by Hulk
Sat Dec 17, 2016 4:53 pm
Forum: Investing - Help with Personal Investments
Topic: Grandparent wants to max gift 529, but Im confused.
Replies: 20
Views: 2542

Re: Grandparent wants to max gift 529, but Im confused.

There is no tax paid by you, the donee, no matter how large the gift. Gill but grandma might be reducing her estate tax exemption? and I don't know what the GST tax does when you exceed the annual limit Contributing to a 529 does not reduce one's estate tax exemption limits, assuming the annual gif...
by Hulk
Sat Dec 17, 2016 4:47 pm
Forum: Investing - Help with Personal Investments
Topic: Grandparent wants to max gift 529, but Im confused.
Replies: 20
Views: 2542

Re: Grandparent wants to max gift 529, but Im confused.

One other possibility is for grandma to max out her yearly gift exclusion now, and when your daughter is in college, she can pay tuition directly to the school. Tuition paid directly to the school does not count as a gift. All of this assumes she wants to gift as much as possible to avoid estate ta...
by Hulk
Sat Dec 17, 2016 4:45 pm
Forum: Investing - Help with Personal Investments
Topic: Grandparent wants to max gift 529, but Im confused.
Replies: 20
Views: 2542

Re: Grandparent wants to max gift 529, but Im confused.

The grandparent should make the contribution directly to the 529 account. Check with your 529 plan provider, this is a very common occurrence. I briefly discussed this with my MIL and told her to write the check out to fidelity with the 529 account number in the memo (as I was told by fidelity) She...
by Hulk
Fri Dec 16, 2016 6:49 pm
Forum: Investing - Help with Personal Investments
Topic: Grandparent wants to max gift 529, but Im confused.
Replies: 20
Views: 2542

Grandparent wants to max gift 529, but Im confused.

Hello all, I am confused on 529 contribution limits. 14k per parent (or anyone) per year, correct? My MIL informed us last week that she wants to contribute 14k to our daughters education. (Her wealth is beyond 5.45 mil and she is trying to avoid estate tax in the future.) I think she actually wants...
by Hulk
Tue Dec 06, 2016 9:48 pm
Forum: Investing - Help with Personal Investments
Topic: Wife is losing 401k...what to do???
Replies: 13
Views: 2406

Re: Wife is losing 401k...what to do???

How is she getting paid at her new job? If its a 1099 she can create her own i401k and actually contribute up to $54,000. If W2, Id look into seeing if the company would be willing to add a 401k option for employees. HSA contribution of $6750 (stealth IRA as white coat investor likes to say) is anot...
by Hulk
Sun Nov 20, 2016 10:56 pm
Forum: Personal Consumer Issues
Topic: "Musk Says Tesla’s Solar Shingles Will Cost Less Than a Dumb Roof"
Replies: 78
Views: 11112

Re: "Musk Says Tesla’s Solar Shingles Will Cost Less Than a Dumb Roof"

Tycoon wrote:But will they be able to survive baseball sized hail stones?
Geez where do you live?
by Hulk
Sun Nov 20, 2016 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2721
Views: 542691

Re: What's Your Credit Card Rewards Strategy?

My strategy? Getting the most money with the least hassle. Thats seems to be fidelity visa which gives 2% back on all purchases, straight into my daughter's 529. Although, I may have to jump on USAP's new 2.5% card when it becomes widely available next year
by Hulk
Fri Nov 11, 2016 5:10 pm
Forum: Personal Consumer Issues
Topic: USAA 2.5% Cash Back Credit Card
Replies: 278
Views: 52559

Re: USAA 2.5% Cash Back Credit Card

Sounds like a great card, Ill look for it next year at the big roll out.

Do you pay taxes on cash back rewards? Just curious. That would actually make it less valuable than my 2% fidelity visa. I think. This is the first year I have had it.
by Hulk
Sun Nov 06, 2016 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Considering a 10% down vs. doctor's mortgage
Replies: 24
Views: 3513

Re: Considering a 10% down vs. doctor's mortgage

Certainly you can do what you want, but here is my thoughts... If it is going to take 4-5 years to save an addition 50k, to get you up to 100k/20% downpayment, I really dont like your 180k in med school debt. How long were you planning to keep it around? Ideally you'd bang that out first. If it were...
by Hulk
Tue Nov 01, 2016 8:48 pm
Forum: Investing - Help with Personal Investments
Topic: Max out 401k as soon as possible in 2017?
Replies: 6
Views: 1808

Re: Max out 401k as soon as possible in 2017?

I was able to max my 401k by April last year which was great, did much of the purchasing when the market was down in the first quarter. Who knows if Ill be that fortunate in 2017 but I plan on maxing early again.
by Hulk
Thu Oct 27, 2016 9:19 pm
Forum: Investing - Help with Personal Investments
Topic: Too much house down payment?(Please evaluate my portfolio)
Replies: 10
Views: 1824

Re: Too much house down payment?(Please evaluate my portfolio)

Thanks for all the advice. Basically, what I am hearing is I am not crazy, but could perhaps invest more aggressively if I want to. And the good news is I have a year and a half to think about how much house I want to bite off. Thanks for all the info.

Hulk
by Hulk
Thu Oct 27, 2016 11:15 am
Forum: Investing - Help with Personal Investments
Topic: Too much house down payment?(Please evaluate my portfolio)
Replies: 10
Views: 1824

Re: Too much house down payment?(Please evaluate my portfolio)

OP, 1) Please organize your information. A) How big is your total portfolio? Thats everything (other than our cars which we own, about 40K total) so our net worth is about 685K today plus cars. No debts B) What is your gross household income? Now, its about 600k/yr but we are living in an area we d...
by Hulk
Thu Oct 27, 2016 9:42 am
Forum: Investing - Help with Personal Investments
Topic: Too much house down payment?(Please evaluate my portfolio)
Replies: 10
Views: 1824

Too much house down payment?(Please evaluate my portfolio)

Is there such a thing? We are in a weird situation where we are making and saving money at a very high rate but wont buy a house for almost 2 years due to an anticipated move, and maybe two moves over the next 20 months. In addition, my wife already has more than enough money saved and earmarked for...