Search found 3573 matches

by michaeljc70
Thu Oct 18, 2018 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 and W2 from the same employer
Replies: 2
Views: 236

Re: 1099 and W2 from the same employer

All, My employer asked if I am intersted in doing some consulting for him for which he will pay me by 1099. This is in addition to the w2 software development work I am doing for one of his clients. The consulting doesn't have anything to do with my w2 job as it involves training people who are in ...
by michaeljc70
Thu Oct 18, 2018 10:18 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 185
Views: 9272

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

To save everyone the effort of repeating all the back and forth that has happened on the prior threads I will summarize the counter arguments: 1) The future may not look like the past 2) Australia has outperformed the US historically 3) Plenty of good companies outside the US too 4) If you are okay...
by michaeljc70
Thu Oct 18, 2018 9:49 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 185
Views: 9272

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

To save everyone the effort of repeating all the back and forth that has happened on the prior threads I will summarize the counter arguments: 1) The future may not look like the past 2) Australia has outperformed the US historically 3) Plenty of good companies outside the US too 4) If you are okay...
by michaeljc70
Thu Oct 18, 2018 7:30 pm
Forum: Investing - Theory, News & General
Topic: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"
Replies: 185
Views: 9272

Re: "Why Jack Bogle Doesn't Own Non-U.S. Stocks"

To save everyone the effort of repeating all the back and forth that has happened on the prior threads I will summarize the counter arguments: 1) The future may not look like the past 2) Australia has outperformed the US historically 3) Plenty of good companies outside the US too 4) If you are okay...
by michaeljc70
Thu Oct 18, 2018 7:18 pm
Forum: Personal Consumer Issues
Topic: Best way to complain about Hertz bait-and-switch?
Replies: 45
Views: 3784

Re: Best way to complain about Hertz bait-and-switch?

Those cars are different classes (W4 vs K4). If they couldn't provide something similar (in the same class) they should have given a discount.

Image
by michaeljc70
Thu Oct 18, 2018 6:54 pm
Forum: Personal Consumer Issues
Topic: Tip Furniture Delivery?
Replies: 12
Views: 910

Re: Tip Furniture Delivery?

Generally, no. If there was a promotion and I got free delivery, then probably. I actually rented a van a few months ago from Home Depot for $20 to go pick up a sofa as the store wanted $200 to deliver it 9 blocks from the pickup location . If they charge $200, I see no need to tip.
by michaeljc70
Thu Oct 18, 2018 1:43 pm
Forum: Personal Consumer Issues
Topic: Best way to complain about Hertz bait-and-switch?
Replies: 45
Views: 3784

Re: Best way to complain about Hertz bait-and-switch?

Water under the bridge, it's true, but if I can do something with minimal effort on my part that causes the tiniest bit of unhappiness for them I'm up for it. They lied to my face and that makes it personal to me. How many complaints do you think Hertz gets a day? The people that will respond do th...
by michaeljc70
Wed Oct 17, 2018 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: State tax shenanigans - IL
Replies: 1
Views: 502

State tax shenanigans - IL

I am curious to know if other people have had unjustified tax shenanigans in Illinois or other states. In Illinois, I have encounter the following in very recent years (there are more, but I am limiting it to the most egregious): -Tax bill sent for thousands, requesting proof of tax paid from spouse...
by michaeljc70
Wed Oct 17, 2018 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 78
Views: 5326

Re: Where would you go for financial guidance if you win the Megamillions?

Just to break it up a little, I thought I'd post this I recently saw. The guy won $19 million in the lottery and wound up robbing banks!

https://www.marketwatch.com/story/how-o ... 2018-10-01
by michaeljc70
Wed Oct 17, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 78
Views: 5326

Re: Where would you go for financial guidance if you win the Megamillions?

I'd be posting on here as to whether I should DCA or lump sum it into the market :shock: If I win, I'll probably stop posting here ;) Or at least you will never know 8-) I'm under the impression, that adjusted for chance, there are a lot of people posting here richer than I am winning the lottery. :D
by michaeljc70
Wed Oct 17, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 78
Views: 5326

Re: Where would you go for financial guidance if you win the Megamillions?

I don't play the lottery but...my first inclination would be to consult with a CPA/lawyer to see if incorporating or something would save me on taxes or I needed some legal shielding. However, I doubt any of that would work. I would just stick to what I am doing (4 fund portfolio). I actually would ...
by michaeljc70
Wed Oct 17, 2018 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion - getting conflicting info about taxes
Replies: 7
Views: 594

Re: Roth conversion - getting conflicting info about taxes

Assuming this is pre-tax money being converted, you will owe taxes on the converted amount only. This. What the one rep said doesn't make sense. You'd be paying income tax on the money 2x (once at the time of conversion and again when you take the money out of the tIRA). Maybe there was a miscommun...
by michaeljc70
Wed Oct 17, 2018 5:04 pm
Forum: Personal Consumer Issues
Topic: Denied credit card with great credit
Replies: 17
Views: 1515

Re: Denied credit card with great credit

I'll add, in addition to my response above (and I did create a thread on it), that once I was asked for copies of my tax return. For a credit card. I have excellent credit (well into the 800s). I think they saw I opened a lot of cards with bonuses and just wanted to make it hard for me. I sent in th...
by michaeljc70
Wed Oct 17, 2018 5:01 pm
Forum: Personal Consumer Issues
Topic: unlicensed repair guy possibly spent our material deposit
Replies: 24
Views: 2372

Re: unlicensed repair guy possibly spent our material deposit

I'm surprised at some of the responses. If the guy is still around, I wouldn't do those things at this point. You will never get your money back IMO if you get aggressive right away. 10 days isn't that long. You are probably right and he used the money for something else. It could be on another job ...
by michaeljc70
Wed Oct 17, 2018 4:57 pm
Forum: Personal Consumer Issues
Topic: Denied credit card with great credit
Replies: 17
Views: 1515

Re: Denied credit card with great credit

Opening a lot of credit cards in a relatively short period of time is a red flag. Some cards are harder to get than others. The number of accounts opened may trump your credit score. Credit card issuers don't just look at credit scores. You might also want to check what score they are using as there...
by michaeljc70
Wed Oct 17, 2018 4:47 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1699

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses . (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. Like staples, paper clips and coffee creamer? Sounds like the doc fee...
by michaeljc70
Wed Oct 17, 2018 4:42 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 1243
Views: 214504

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Mike14 wrote:
Wed Oct 17, 2018 3:58 pm
pre wrote:
Sun Mar 18, 2018 3:44 pm
Merrill, TDA, Etrade, etc. will all allow multiple bonuses
For the same account type using the same promo code?
michaeljc70 wrote:
Sun Mar 18, 2018 4:05 pm
I was able to get multiple at TDA moving multiple accounts.
Same account type or different types?
Mine were different account types.
by michaeljc70
Wed Oct 17, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Kidnapping and Ransom in Bitcoins
Replies: 4
Views: 1005

Re: Kidnapping and Ransom in Bitcoins

The chances that they get caught probably don't change any whether they were paid in bitcoin or cash.
by michaeljc70
Wed Oct 17, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off the mortgage early - Isn't this the opposite of "putting more money into your house"?
Replies: 75
Views: 5074

Re: Paying off the mortgage early - Isn't this the opposite of "putting more money into your house"?

It is unknowable in advance whether paying off mortgage is better than investing the funds. To complicate things, the potential rate of investment return will, of course, depend on what those funds are invested into. Even those who locked in the record low fixed interest rate are unlikely to see ri...
by michaeljc70
Wed Oct 17, 2018 10:38 am
Forum: Personal Consumer Issues
Topic: Google's Titan Key for 2fa
Replies: 22
Views: 1734

Re: Google's Titan Key for 2fa

linenfort wrote:
Wed Oct 17, 2018 10:33 am
You're right. Sorry about that. I searched for "bluetooth" and copied the quoted timestamp.
NP. I didn't see the mention of bluetooth when I skimmed the comments.
by michaeljc70
Wed Oct 17, 2018 10:32 am
Forum: Personal Consumer Issues
Topic: Google's Titan Key for 2fa
Replies: 22
Views: 1734

Re: Google's Titan Key for 2fa

I'm not sure what I am late for. Sorry, I'm not trying to start anything with you. The other post with that timestamp is by me and it does in fact mention the bluetooth key. It is also quoted later in the thread. If you just do a Ctrl+F search for "bluetooth" on this page... I never had an opportun...
by michaeljc70
Wed Oct 17, 2018 10:17 am
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1699

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses. (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. So, what does the split that the broker gets on the commission cover?
by michaeljc70
Wed Oct 17, 2018 10:16 am
Forum: Personal Consumer Issues
Topic: Google's Titan Key for 2fa
Replies: 22
Views: 1734

Re: Google's Titan Key for 2fa

Forgot to mention, this may have something to do with updating to IOS 12. Found myself locked out of Google on all browsers on my ipad. Yeah, I'm turning off 2fa for now and returning my key to Google. Maybe I'll go back to a phone for 2fa. The Titan Key comes with a bluetooth version as far as I k...
by michaeljc70
Wed Oct 17, 2018 9:52 am
Forum: Personal Consumer Issues
Topic: Best way to complain about Hertz bait-and-switch?
Replies: 45
Views: 3784

Re: Best way to complain about Hertz bait-and-switch?

You can complain if it will make you feel better, but that (and maybe a form letter apology) will likely be the extent of what you gain.
by michaeljc70
Wed Oct 17, 2018 9:23 am
Forum: Personal Consumer Issues
Topic: Google's Titan Key for 2fa
Replies: 22
Views: 1734

Re: Google's Titan Key for 2fa

The Titan Key comes with a bluetooth version as far as I know. So, it comes with 2 keys and one can be a backup. You don't need to plug it in. Put it on your keychain and keep it near the computer. As others pointed out, leaving it plugged in somewhat defeats the purpose. If your computer doesn't ha...
by michaeljc70
Wed Oct 17, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Too good to be true; what am I missing?
Replies: 17
Views: 2924

Re: Too good to be true; what am I missing?

Without knowing the mortgage interest rate, I cannot evaluate anything. If you itemize and deduct the interest that would have an impact on the analysis too.
by michaeljc70
Tue Oct 16, 2018 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Inflating AGI to avoid paying back ACA Premium Tax Credit
Replies: 31
Views: 2219

Re: Inflating AGI to avoid paying back ACA Premium Tax Credit

I'm not sure what type of business you have or how much more income you need, so this may not work. But maybe you can get customers/clients to pay you early bringing 2019 income into 2018. You could offer them a discount to encourage them.
by michaeljc70
Tue Oct 16, 2018 6:14 pm
Forum: Investing - Theory, News & General
Topic: "Safe" Withdrawal Rate for Early Retirees (or any retiree)
Replies: 187
Views: 14224

Re: "Safe" Withdrawal Rate for Early Retirees (or any retiree)

If you live pretty frugally, I don't know realistically how much you can cut back on your withdrawals in bad times (market downturns). If I had to cut more than 5-10% from what I am spending now, I'd really feel it. It's not like I am staying in 5 star hotels and flying business class on vacations w...
by michaeljc70
Tue Oct 16, 2018 3:56 pm
Forum: Personal Consumer Issues
Topic: trip to Grand Cayman & dieting [while on vacation]
Replies: 40
Views: 2625

Re: trip to Grand Cayman & dieting [while on vacation]

To me, vacation is to enjoy yourself and what is probably a few days or week isn't going to make a big difference in the long run. If you're sure you want to keep up the dieting on vacation, I would just eat less. Skip appetizers. Leave stuff on your plate for the entree. Don't have dessert or just ...
by michaeljc70
Tue Oct 16, 2018 1:57 pm
Forum: Investing - Theory, News & General
Topic: Sears, a 125 year old company is now a penny stock.
Replies: 121
Views: 14170

Re: Sears, a 125 year old company is now a penny stock.

Nicolas wrote:
Tue Oct 16, 2018 1:50 pm
Sears Holdings is up 50% today at 45.4 cents, why? It's bankrupt soon and the shares will be delisted and worthless so why does anyone buy?
I suspect day traders looking to make a quick buck mostly but maybe people that don't understand the stock will become worthless.
by michaeljc70
Tue Oct 16, 2018 10:34 am
Forum: Personal Consumer Issues
Topic: How Much Is Your Sewer Bill?
Replies: 78
Views: 3873

Re: How Much Is Your Sewer Bill?

$12/mo for the last bill. That's including outside watering though so the bill is less in the winter. In Chicago we pay the same for sewer as water so it was $24 each for the bill which covers 2 months. We used 6000 gallons in the two month period.
by michaeljc70
Tue Oct 16, 2018 10:28 am
Forum: Investing - Theory, News & General
Topic: How much of a dip do you want before you TLH?
Replies: 13
Views: 659

Re: How much of a dip do you want before you TLH?

I'm surprised how much talk there is of TLH after a 9 year bull market. The market is only down a few percent. On top of that, most of my money is in tax deferred accounts. I actually did gain "harvesting" last year at 0% as my income was low. You are really just shifting the timing, so if I were t...
by michaeljc70
Tue Oct 16, 2018 10:18 am
Forum: Personal Finance (Not Investing)
Topic: Job Offer – bonus details provided after acceptance
Replies: 26
Views: 1769

Re: Job Offer – bonus details provided after acceptance

I agree that knowing how it is calculated would be useful. However, that still won't make it guaranteed. I would ask what % of years do people in your role (or a similar role) get their targeted bonus and what the average % of the targeted bonus has actually been paid in the past. Bonuses can be tie...
by michaeljc70
Tue Oct 16, 2018 9:47 am
Forum: Investing - Theory, News & General
Topic: How much of a dip do you want before you TLH?
Replies: 13
Views: 659

Re: How much of a dip do you want before you TLH?

I'm surprised how much talk there is of TLH after a 9 year bull market. The market is only down a few percent. On top of that, most of my money is in tax deferred accounts. I actually did gain "harvesting" last year at 0% as my income was low. You are really just shifting the timing, so if I were to...
by michaeljc70
Tue Oct 16, 2018 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Inflating AGI to avoid paying back ACA Premium Tax Credit
Replies: 31
Views: 2219

Re: Inflating AGI to avoid paying back ACA subsidies

Don't you have deductions on Schedule C you can leave off? As others indicated, a Roth conversion would be great as you will actually get a future benefit from it.
by michaeljc70
Tue Oct 16, 2018 12:50 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy repayment for s-Corp owner
Replies: 10
Views: 652

Re: ACA subsidy repayment for s-Corp owner

I left the accounting field long ago, but I would think that if you use accrual based accounting vs. cash based accounting, that would make a difference. If you use accrual based accounting, I would think you should amend the prior return as the subsidies (or lack of) match the premiums. Edit: It s...
by michaeljc70
Mon Oct 15, 2018 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy repayment for s-Corp owner
Replies: 10
Views: 652

Re: ACA subsidy repayment for s-Corp owner

It is very rare for any owner-only pass-thru business entity to have any need for and select accrual based accounting. Why? There are benefits. I don't think it is that rare. I had my own business for years and was accrual based. It equalizes income by matching revenue and expenses. Generally, it c...
by michaeljc70
Mon Oct 15, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy repayment for s-Corp owner
Replies: 10
Views: 652

Re: ACA subsidy repayment for s-Corp owner

I left the accounting field long ago, but I would think that if you use accrual based accounting vs. cash based accounting, that would make a difference. If you use accrual based accounting, I would think you should amend the prior return as the subsidies (or lack of) match the premiums. Edit: It so...
by michaeljc70
Mon Oct 15, 2018 7:54 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1699

Re: Buyers commission on a condo purchase

Many of us feel that the 6% Realtors typically charge to sell your home is outrageous, but is apparently accepted, so why wouldn't others test to determine the limits of acceptance? Tim Where I live (Chicago) 5% is pretty standard. I think with the advent of technology advances though, I am surpris...
by michaeljc70
Mon Oct 15, 2018 4:04 pm
Forum: Personal Consumer Issues
Topic: Keep a backup hot water heater?
Replies: 97
Views: 4674

Re: Keep a backup hot water heater?

My hot water heaters (2-40 gallon) are approaching 15 years old. Some of my neighbor's have already failed (same age). Has anyone kept a spare in case of failure? I plan to install it myself and this would save me a trip to the Home Depot during a morning family crisis (I can imagine it now). I kno...
by michaeljc70
Mon Oct 15, 2018 3:55 pm
Forum: Personal Consumer Issues
Topic: UPDATE: Credit Card Fraud - $30K
Replies: 66
Views: 8466

Re: UPDATE: Credit Card Fraud - $30K

Thanks for the update. It is hard to believe that they allowed 3 charges that big through without it triggering security. I assume you don't max out the account all the time so that alone should have been suspicious to them. Unless....whoever made the charges was able to intercept the calls from sec...
by michaeljc70
Mon Oct 15, 2018 10:29 am
Forum: Investing - Theory, News & General
Topic: Sears, a 125 year old company is now a penny stock.
Replies: 121
Views: 14170

Re: Sears, a 125 year old company is now a penny stock.

I didn't read all the comments, but if you think of all the businesses once a part of Sears.....Discover, Dean Witter (now part of Morgan Stanley), AllState, etc., it is pretty amazing. My guess is after the holidays there will not be many stores left and they won't make it to Xmas 2019.
by michaeljc70
Mon Oct 15, 2018 10:24 am
Forum: Personal Consumer Issues
Topic: Need new email address. Gmail or ???
Replies: 70
Views: 5043

Re: Need new email address. Gmail or ???

"Neither of the two largest email services – Google’s Gmail and Microsoft’s Outlook.com – scans your emails for advertising purposes. " https://www.theguardian.com/technology/askjack/2018/apr/19/whats-the-best-email-service-that-doesnt-scan-emails-for-ad-targeting I guess Google stopped that practi...
by michaeljc70
Mon Oct 15, 2018 10:19 am
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1699

Re: Buyers commission on a condo purchase

I've never heard of this in Chicago. I have several friends that are agents and have bought several properties myself. Is the purchase price very low? I could see adding on if you were buying a $75k condo or something as the percent commission would be very low.
by michaeljc70
Mon Oct 15, 2018 10:14 am
Forum: Personal Consumer Issues
Topic: Need new email address. Gmail or ???
Replies: 70
Views: 5043

Re: Need new email address. Gmail or ???

"Neither of the two largest email services – Google’s Gmail and Microsoft’s Outlook.com – scans your emails for advertising purposes. " https://www.theguardian.com/technology/askjack/2018/apr/19/whats-the-best-email-service-that-doesnt-scan-emails-for-ad-targeting I guess Google stopped that practice.
by michaeljc70
Mon Oct 15, 2018 10:01 am
Forum: Investing - Theory, News & General
Topic: Sears, a 125 year old company is now a penny stock.
Replies: 121
Views: 14170

Re: Sears, a 125 year old company is now a penny stock.

Don't worry, Eddie the Vampire will continue sucking it dry while whining about how hard it is until it's not even a penny stock. There really should be no 5 year limitation on suing these hedge funds that purposely load companies up with debt to pay themselves with every intention of bankrupting t...
by michaeljc70
Mon Oct 15, 2018 9:51 am
Forum: Investing - Theory, News & General
Topic: Correlation between the FIRE movement and one of the greatest bull markets
Replies: 158
Views: 13316

Re: Correlation between the FIRE movement and one of the greatest bull markets

If FIRE means being able to switch to a lower paying occupation, but not necessarily being able to retire, then it's a misnomer. It's not financial independence, and it's not early retirement. I can't blame Suze Orman for being confused about it - I think many are (including myself). Part of the is...
by michaeljc70
Mon Oct 15, 2018 9:07 am
Forum: Investing - Theory, News & General
Topic: Correlation between the FIRE movement and one of the greatest bull markets
Replies: 158
Views: 13316

Re: Correlation between the FIRE movement and one of the greatest bull markets

If FIRE means being able to switch to a lower paying occupation, but not necessarily being able to retire, then it's a misnomer. It's not financial independence, and it's not early retirement. I can't blame Suze Orman for being confused about it - I think many are (including myself). Part of the is...
by michaeljc70
Mon Oct 15, 2018 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Doing my own taxes?
Replies: 13
Views: 1380

Re: Doing my own taxes?

Who does the accounting for the business?