Search found 666 matches

by vtMaps
Mon May 25, 2020 10:13 am
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 55
Views: 3563

Re: Open Social Security strategy results question

As for when I retire and have some years to convert, I still am not sure converting to the top of the 22% bracket makes sense. If I were to that, I would be able to convert my whole 401K. I do own an inherited IRA that cannot be converted ($150K). If I were to convert as much as possible, going int...
by vtMaps
Fri May 22, 2020 1:13 pm
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 55
Views: 3563

Re: Open Social Security strategy results question

Got a little lost here. Looking at the charts in the wiki, I thought the worst case of a 40.7% hump is only in the single case (not the MFJ case). Check out the "heat maps" in the wiki: https://www.bogleheads.org/wiki/Taxation_of_Social_Security_benefits There is a separate heat map for single and ...
by vtMaps
Fri May 22, 2020 4:17 am
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 55
Views: 3563

Re: Open Social Security strategy results question

So, I was trying to say in my previous post that if I'm going to be already past the point of the hump, it may make sense to just withdraw (or convert to Roth) to the top of the 12% bracket. Does that make sense? No. With SS = $58k, if you are past the hump, you are past the 12% tax bracket. With S...
by vtMaps
Thu May 21, 2020 12:10 pm
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 55
Views: 3563

Re: Open Social Security strategy results question

For the married filing jointly case, my plan (at least at this point) is to have enough taxable income to max out the 12% bracket (or whatever it will be in the future). If one does that, the hump considerations go away. Correct? No, not correct. The hump is still there. In the example I gave earli...
by vtMaps
Tue May 19, 2020 8:03 pm
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 55
Views: 3563

Re: Open Social Security strategy results question

The general concept that many of us use is to keep our Taxable Income fairly level each year from retirement until you die, so the taxes would be relatively level each year. That is not always the best strategy. For example: A single taxpayer with SS = $35,000 and RMD = $30,000 wishes to take (in a...
by vtMaps
Sun May 17, 2020 12:21 pm
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 55
Views: 3563

Re: Open Social Security strategy results question

if I think I would outlive the tables, then it is better to take SS later. Conversely, if I didn't outlive the table, it would be better to take SS earlier. But on the exact date, it didn't matter. Is that correct? I think that's not quite right. When you delay SS you are living on non SS money. Th...
by vtMaps
Sat May 16, 2020 12:51 pm
Forum: Personal Investments
Topic: Open Social Security strategy results question
Replies: 55
Views: 3563

Re: Open Social Security strategy results question

The calculator is making (possibly unwarranted) assumptions about your lifespans. If you ask the calculator to give you the optimal strategy assuming you both live to be 110, the calculator will likely have your wife waiting until at least her full retirement age before claiming. Likewise, if you as...
by vtMaps
Sat May 09, 2020 11:56 am
Forum: Personal Finance (Not Investing)
Topic: 2020 Tax Credit: Stimulus & taxable Social Security
Replies: 9
Views: 521

Re: 2020 Tax Credit: Stimulus & taxable Social Security

As already mentioned, the AGI for stimulus payments is the AGI. Perhaps you're confused by one of the several modified AGI that are used in other situations. --vtMaps
by vtMaps
Fri May 08, 2020 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1584
Views: 217551

Re: Fidelity as a one stop shop

Unfortunately, since the current panic, Fidelity insists on first forcing you to go through a splash-screen where they want to try to tell people they care in these worrying times and then forces you to click through the brokerage screens to get to the manage cash screen When you see the splash scr...
by vtMaps
Mon May 04, 2020 8:50 am
Forum: Personal Consumer Issues
Topic: Do Cell Phone Boosters Work?
Replies: 24
Views: 1453

Re: Do Cell Phone Boosters Work?

If you have the same Samsung unit as the OP, then you have Verizon's Network Extender, not a booster. Your weak cell tower signal is not being rebroadcast through your house... your signal, through the extender, is being carried by your internet connection. Sorry, you are incorrect. Regardless of s...
by vtMaps
Mon May 04, 2020 3:33 am
Forum: Personal Consumer Issues
Topic: Do Cell Phone Boosters Work?
Replies: 24
Views: 1453

Re: Do Cell Phone Boosters Work?

We bought the $250 Samsung booster for our home and it works great, <snip> There are two types of equipment to improve the Verizon signal, an extender which is cheaper and worthless in my opinion, and the booster which is worth every penny. If you have the same Samsung unit as the OP, then you have...
by vtMaps
Mon May 04, 2020 3:20 am
Forum: Personal Consumer Issues
Topic: Do Cell Phone Boosters Work?
Replies: 24
Views: 1453

Re: Do Cell Phone Boosters Work?

Thanks for the update OP. Surprised but glad you are having a good experience so far. I never had good luck with these sort of fake boosters. The OP did not get a booster. A booster takes the cell signal from a tower and boosts it in your house. The OP's solution was to set up a "micro" cell tower ...
by vtMaps
Sun Apr 26, 2020 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Survivor's benefit letters from Social Security
Replies: 8
Views: 810

Re: Survivor's benefit letters from Social Security

Why would they send two letters, including one with "we changed your monthly benefit to $1,189"? Why not just send one letter saying she will get his benefit going forward? Because her benefit is the sum of: her own benefit earned on her own record plus a benefit from her husband's earning record. ...
by vtMaps
Fri Apr 24, 2020 6:08 am
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: [Fidelity - Responsibility to track down beneficiaries on death]

Anyone know how much work it is to change beneficiaries in a will? I'm in my fifties, no kids or spouse, and my beneficiaries may well change over the years (for example, one of my beneficiaries is a charity; in 5 years I might decide to give to a different charity). In my state, changing one's wil...
by vtMaps
Thu Apr 23, 2020 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: How hard will Fidelity try to find an IRA beneficiary?

This thread about Vanguard contains some info relevant to this thread about Fidelity: https://www.bogleheads.org/forum/viewtopic.php?f=2&t=312638 I found this (from Fidelity's paper IRA Beneficiary Form): By signing below, you: Agree that Fidelity has no obligation to locate or notify any beneficiar...
by vtMaps
Sun Apr 12, 2020 7:02 am
Forum: Personal Consumer Issues
Topic: Garden edging- question
Replies: 24
Views: 2073

Re: Garden edging- question

unclescrooge wrote:
Sat Apr 11, 2020 12:39 pm
Doesn't landscape fabric degrade within a few years?
Some does. Many fabrics are designed to be used under patios or behind walls or under a layer of mulch where they are not exposed to ultraviolet light. Other fabrics are designed to cover soil and have UV stabilization.

--vtMaps
by vtMaps
Fri Apr 10, 2020 6:48 pm
Forum: Personal Consumer Issues
Topic: Garden edging- question
Replies: 24
Views: 2073

Re: Garden edging- question

I'm trying to minimize weeding and need for herbicide....thus the edging in the first place. Putting the soil with grass and seed back in the trench on the flower garden side seems like it would be counterproductive, unless I am missing something here. Maybe fill it with bags of topsoil? It certain...
by vtMaps
Wed Apr 08, 2020 4:21 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1584
Views: 217551

Re: Fidelity as a one stop shop

but the 2% card interface is terrible. The transactions do not post in order and it doesn’t play well with YNAB. I agree the interface is not the best, but I am able to copy from the transaction list, and paste into a spreadsheet. I don't use YNAB or other similar software. The date in the list of ...
by vtMaps
Tue Apr 07, 2020 1:07 pm
Forum: US Chapters
Topic: Consider Zoom video conferencing for chapter meetings
Replies: 16
Views: 1159

Re: Consider Zoom video conferencing for chapter meetings

More on the cautionary side of things, Coronavirus made Zoom popular but exposed privacy and security problems - Vox And for Mac users to avoid the security issues with zoom this site has easy-to-understand instructions: https://tidbits.com/2020/04/03/every-zoom-security-and-privacy-flaw-so-far-and...
by vtMaps
Sun Mar 29, 2020 2:44 pm
Forum: Personal Consumer Issues
Topic: Slash your cell phone bill!
Replies: 26
Views: 4337

Re: Slash your cell phone bill!

Cheez-It Guy wrote:
Sun Mar 29, 2020 5:53 am
I switched to Consumer Cellular. Added a second smartphone AND more than halved our bill. Oddly enough, they use AT&T's network.
But when the towers are busy, the ATT customers will get priority over Consumer Cellular customers (and other MVNO customers). --vtMaps
by vtMaps
Sat Mar 28, 2020 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Some IRS webpages Still Show RMD Age 70.5
Replies: 13
Views: 615

Re: Some IRS webpages Still Show RMD Age 70.5

While we're on the subject, This page: https://www.bogleheads.org/wiki/Roth_IRA_conversion has not been updated for the recent tax law changes: 3. After you reach the calendar year you attain age 70 1/2 and must start Required Minimum Distributions (RMDs) from traditional IRAs, the full RMD must be ...
by vtMaps
Thu Mar 26, 2020 2:20 pm
Forum: Investing - Theory, News & General
Topic: TIPS go Crazy!
Replies: 271
Views: 20257

Re: TIPS are going crazy!

Any clue on what's going on here? Has the market's expectation of forward inflation been that volatile? Is the relatively illiquidity of TIPS at work? Both? Something else? The something else may be risk of deflation. Unlike a TIPS purchased at auction, a previously issued bond (with an accrued inf...
by vtMaps
Mon Mar 23, 2020 10:01 am
Forum: Investing - Theory, News & General
Topic: Tax expert Jeff Levine, CPA/PFS, CFP, is my next “Bogleheads on Investing" guest
Replies: 12
Views: 826

Re: Tax expert Jeff Levine, CPA/PFS, CFP, is my next “Bogleheads on Investing" guest

For Mr. Levine: Why are US taxpayers so reticent to read IRS tax publications and especially the instructions to Form 1040 themselves? More folks might read them if they could still pick them up at the post office or library. Is not a better-informed citizenry good for the USA? Depends on where the...
by vtMaps
Sat Mar 21, 2020 7:56 am
Forum: Personal Consumer Issues
Topic: Do Cell Phone Boosters Work?
Replies: 24
Views: 1453

Re: Do Cell Phone Boosters Work?

Yes real boosters work. I have one at my business. I think it is from Wilson and it ties to this 4 foot high antenna on the roof of a metal building. I also used a Wilson booster for Verizon until we got fiber a couple of years ago. It worked very well, but you probably need an antenna outside the ...
by vtMaps
Sat Mar 21, 2020 3:05 am
Forum: Investing - Theory, News & General
Topic: TIPS go Crazy!
Replies: 271
Views: 20257

Re: TIPS go Crazy!

One of the great things about I Bonds <snip> It won’t decline in real terms, but if you have held the bond for a while, and there is aggregate inflation correction accumulated, the value can decline from that valuation due to deflation. If inflation is 2% per year for 10 years, then the principal w...
by vtMaps
Thu Mar 19, 2020 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Converting from an Inherited IRA to a Roth
Replies: 7
Views: 458

Re: Converting from an Inherited IRA to a Roth

livesoft wrote:
Thu Mar 19, 2020 1:54 pm
You cannot convert an inherited IRA, but you can withdraw as much money from it as you want without penalty and use that money to pay the taxes due on the conversion of any non-inherited IRA money that you convert.
Is that for all inherited IRAs, or just non-spousal IRAs? --vtMaps
by vtMaps
Thu Mar 19, 2020 7:26 am
Forum: Personal Finance (Not Investing)
Topic: medicare vs uninsured motorist insurance
Replies: 7
Views: 427

Re: medicare vs uninsured motorist insurance

Medicare limits the number of physical therapy (PT) visits and they don't cover some PT services such as dry needling. I use the latter periodically and the out of pocket cost can vary depending on the provider to $20 per session to $150 per session. That's a huge difference if its needed over a lo...
by vtMaps
Thu Mar 19, 2020 7:22 am
Forum: Personal Finance (Not Investing)
Topic: medicare vs uninsured motorist insurance
Replies: 7
Views: 427

Re: medicare vs uninsured motorist insurance

I think Medicare would cover your expenses over the UIM limit. But consider a scenario where you are driving with a passenger who is seriously injured by a UIM. Suing you may be their only hope of getting their bills paid. Alternatively, if they have health insurance their insurer may try to subrog...
by vtMaps
Wed Mar 18, 2020 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: medicare vs uninsured motorist insurance
Replies: 7
Views: 427

medicare vs uninsured motorist insurance

We just got a bill for the annual renewal of our $2m umbrella insurance. It increased to $538 from $217 last year. I called my State Farm agent to find out why. Apparently there is a new law in Vermont that requires umbrella insurance to include uninsured motorist coverage. Our automobile policies a...
by vtMaps
Sun Mar 15, 2020 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: How hard will Fidelity try to find an IRA beneficiary?

Actually, your IRA is part of your estate if you name a charity as your beneficiary. <snip> If you are concerned your named executor may not be around when you die, you could name a successor executor in your will. If you don't have a will this may be a good time to prepare one We do have wills. Th...
by vtMaps
Sun Mar 15, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: How hard will Fidelity try to find an IRA beneficiary?

Reading this, I think you should alert your executor to check on the status of your IRA to see if it has been distributed to your beneficiary as you directed. The IRA has nothing to do with the estate (as I understand it). What if the executor is court appointed? Would they have any responsibility ...
by vtMaps
Sun Mar 15, 2020 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

Re: How hard will Fidelity try to find an IRA beneficiary?

Thanks for that link! My charity is there. But I still wonder... what if Fidelity sends some postcard notification to the charity, that gets lost or ignored... will the IRA be escheated?

--vtMaps
by vtMaps
Sun Mar 15, 2020 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: [Fidelity - Responsibility to track down beneficiaries on death]
Replies: 71
Views: 4206

[Fidelity - Responsibility to track down beneficiaries on death]

[Title was "How hard will Fidelity try to find an IRA beneficiary?" --admin LadyGeek] I just went online and added a charity as a contingent beneficiary to a Fidelity IRA. (My wife is primary beneficiary). It's the first time I have tried to do that. I entered the name of the charity, the percentag...
by vtMaps
Sun Mar 15, 2020 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Dental and vision insurance?
Replies: 13
Views: 724

Re: Dental and vision insurance?

When I was looking at dental pans a few years ago, it seemed that the premiums equals the cost of two exams a year. So in essence you are buying coverage to save on any additional procedure such as a cavity filling etc. The plan we had was more like a service plan... two cleanings and one Xray per ...
by vtMaps
Thu Mar 12, 2020 8:16 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 8995-A delayed until March 2020
Replies: 21
Views: 2824

Re: H&R Block 8995-A delayed until March 2020

I encountered a clear formula computation bug with Form 8995 in the latest H&R Block update. According to the text, line 4 is supposed to be the sum of lines 2 and 3. Mine is not. In my particular case, Line 2 is a positive number and Line 3 is 0 so Line 4 should be the same as Line 2. Not a hard c...
by vtMaps
Thu Mar 12, 2020 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Need help with Form 8995 [H&R Block bug?]
Replies: 2
Views: 432

Re: Need help with Form 8995 [H&R Block bug?]

PARTIALLY FIXED !
In the most recent update to the software the problem is partially fixed. Line 2 now shows the qualified business income as it should. Line 1 is still wrong because it still shows the net business income rather than the qualified business income.

--vtMaps
by vtMaps
Wed Mar 11, 2020 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Actual Cash Money Without Extensive Paper Trail
Replies: 27
Views: 2872

Re: Actual Cash Money Without Extensive Paper Trail

Since the safe deposit box was in your name, and the cash was put there while your father was alive, I think the cash is a gift, not part of his estate. Most everyone seems to be overlooking the fact that the box was in the son’s name, not the father’s. I would view this as a gift during father’s l...
by vtMaps
Wed Mar 11, 2020 10:03 am
Forum: US Chapters
Topic: Suggestions for the Wiki
Replies: 480
Views: 388955

Re: Suggestions for the Wiki

I just noticed this page: https://www.bogleheads.org/wiki/Roth_IRA_conversion has not been updated for the recent tax law changes: 3. After you reach the calendar year you attain age 70 1/2 and must start Required Minimum Distributions (RMDs) from traditional IRAs, the full RMD must be completed bef...
by vtMaps
Wed Mar 11, 2020 4:36 am
Forum: Personal Finance (Not Investing)
Topic: Roth conv (no TLH) vs distribution to taxable with possible TLH
Replies: 3
Views: 274

Re: Roth conv (no TLH) vs distribution to taxable with possible TLH

Thanks for the comments. Any of our Roth distributions are fully qualified. Since you pay the same taxes either way, it is a no-brainer to put the money in Roth where it can grow tax-free <snip> Since you seem to be a bit worried about losses, remember that the asset will lose the same amount regard...
by vtMaps
Tue Mar 10, 2020 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Actual Cash Money Without Extensive Paper Trail
Replies: 27
Views: 2872

Re: Actual Cash Money Without Extensive Paper Trail

One risk that has not been mentioned is the risk of triggering an audit of the father’s income tax returns. Income tax avoidance is often a reason for large amounts of cash in a safe deposit box. To avoid this problem I would advise keeping it in cash and use it as you wish over a period of time. O...
by vtMaps
Tue Mar 10, 2020 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: What USPS “Snail Mail” Option Do You Recommend for Tax Return?
Replies: 57
Views: 3092

Re: What USPS “Snail Mail” Option Do You Recommend for Tax Return?

It's only a couple of extra dollars to send certified or registered and doing so is proof that you mailed the return when you said that you did." USPS Postage & Special Services New 2020 Rates Certified Mail Fee....................... $3.55 You don't need to get the return receipt.........you can t...
by vtMaps
Tue Mar 10, 2020 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conv (no TLH) vs distribution to taxable with possible TLH
Replies: 3
Views: 274

Roth conv (no TLH) vs distribution to taxable with possible TLH

We have a few more years to do Roth conversions before SS and RMDs. If we take an IRA distribution now and invest it in equities in a taxable account, we may have the opportunity to TLH. Ultimately we expect long term cap gains, and those will have favorable tax treatment. If we do a Roth conversion...
by vtMaps
Mon Mar 09, 2020 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Actual Cash Money Without Extensive Paper Trail
Replies: 27
Views: 2872

Re: Actual Cash Money Without Extensive Paper Trail

If the source of the cash was your father's CD in an IRA, then his tax returns should show an IRA distribution for that cash. Since the safe deposit box was in your name, and the cash was put there while your father was alive, I think the cash is a gift, not part of his estate.

--vtMaps
by vtMaps
Mon Mar 09, 2020 10:22 am
Forum: Personal Investments
Topic: Wash Sale Question: VOO & VTI Substantially Identical?
Replies: 88
Views: 4493

Re: Wash Sale Question: VOO & VTI Substantially Identical?

drunkenson wrote:
Mon Mar 09, 2020 10:08 am
“Identical’ is binary. Two things are either identical or they are not. “Substantially identical” is meaningless if you understand ‘substantially’ to mean to a greater or lesser extent.
Well said! :idea: --vtMaps
by vtMaps
Sun Mar 08, 2020 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: What USPS “Snail Mail” Option Do You Recommend for Tax Return?
Replies: 57
Views: 3092

Re: What USPS “Snail Mail” Option Do You Recommend for Tax Return?

This seems like the right answer if you feel you must send in the printed forms. But why not e-file to begin with? Is it because of the cost? Time is money and there are too many opportunities for things to go wrong by sending in printed forms. EVERY year that I have used tax software I have found ...
by vtMaps
Sun Mar 08, 2020 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Is tax owed if I sell a gift?
Replies: 24
Views: 1625

Re: Is tax owed if I sell a gift?

You would have a $500 loss if you sell a $5,000 car for $4,500. If you sell it for more than $5,000, then you would owe taxes. --vtMaps It doesn’t matter what the fair market value is on a gifted item, since cost basis doesn’t step up on a gift. The basis is what the item was originally purchased f...
by vtMaps
Sun Mar 08, 2020 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Is tax owed if I sell a gift?
Replies: 24
Views: 1625

Re: Is tax owed if I sell a gift?

You would have a $500 loss if you sell a $5,000 car for $4,500. If you sell it for more than $5,000, then you would owe taxes. --vtMaps
by vtMaps
Sun Mar 08, 2020 11:12 am
Forum: Personal Investments
Topic: Wash Sale Question: VOO & VTI Substantially Identical?
Replies: 88
Views: 4493

Re: Wash Sale Question: VOO & VTI Substantially Identical?

I did a wash sale that was flagged as such and paid taxes for it. Nobody audited me or questioned me about it. Yes, but your wash was reported on a 1099 by your brokerage. If you had TLH at one brokerage, and then purchased your wash at a different brokerage, your wash would not have been flagged a...
by vtMaps
Sat Mar 07, 2020 7:17 pm
Forum: Personal Investments
Topic: Wash Sale Question: VOO & VTI Substantially Identical?
Replies: 88
Views: 4493

Re: Wash Sale Question: VOO & VTI Substantially Identical?

watchnerd wrote:
Sat Mar 07, 2020 7:10 pm
vtMaps wrote:
Sat Mar 07, 2020 7:06 pm
How did the IRS find out about your wash sale? --vtMaps
Because I goofed up, violating the 30 day rule, and bought the identical fund.
Did your brokerage report the wash sale to the IRS? --vtMaps