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Bumping this for any more comments/insights as to what this could be about. So my tax return and W2 should be enough then? I was going to give all 1099s over so they wouldn't have any questions, but I guess because nothing was withheld I shouldn't.

So I just added up my total state taxes withheld from my spouse and my W2 (box 17) and they equal what is listed in my NJ state tax return as what was witheld in total from my W2 and 1099 for the state. As this matches, I can't see what other information they could be looking for. They already have a copy for the whole turbotax filing for the state. I presume W2s automatically go out to them, plus they are manually entered in my filing. If anything was withheld for the state from my 1099s, then the total withheld on the tax return would be greater than just the two W2s. I figured maybe the wanted to review all my 1099 to make sure I did not forget to claim income, but they can't tell that by only looking at 1099s with state taxes withheld.

It's interesting that you mention that. I thought all my 1099 had no state tax come out of them...because they shouldn't have. My one vanguard 1099-R for my IRA does show a #16 state tax distribution incorrectly on the form. It should be left blank along with 14 and 15 which are blank. I heard other people had this problem as well with vanguard this year (see this post viewtopic.php?t=394627). When I actually filled it out in turbotax and imported it...it correctly left it blank. I wonder if this is the issue? Multiple posts on here pretty much say don't worry about it.

The weird thing is I had no state taxes withheld on my 1099 so I'm not sure what they are looking for. Do they really want like 8 1099s with no state tax withheld

I electronically filed my state return with Turbotax and never had a problem in the past. So I went online to check the status of my NJ state tax refund. It is stuck on the checking for accuracy screen and now says that I will be receiving a notice with code NWH and will have to upload/send documents for their review. I have not received it in the mail yet but when looking up the code on their website they want 1 a copy of my NJ state return 2. A copy of my W2s 3. Any 1099 statements which show New Jersey Withholdings. My question is two fold 1. Do they mean all 1099s such as 1099R, 1099B, 1099misc etc? 2. Are they only asking for 1099 that have NJ taxes already withheld from them? None of them have state taxes held on the 1099s, but they o...

bmcgin wrote: ↑Mon Feb 20, 2023 8:58 pm Just a thought... moving the funds to Etrade will earn a bonus.

Although I appreciate the thought, I don't typically bother with bonuses. I'm planning on moving once and leaving it...hopefully

First thing, your tax rate is almost sure not 35%, it is more likely 38.8% including NIIT. Most people forget that, but it is almost impossible for you to avoid NIIT at that tax rate. Also, as pointed out, marginal is the rate that matters as every additional dollar will be taxed at that rate. Based upon above, let's assume 5.7% is state marginal. Second, there are no additional fees for vanguard money market. All SEC Yield rates are quoted net of fees. So with that out of the way, let's look at your options as of Friday's rates: Ally - 3.4 - After-tax yield = 1.89% VUSXX - 4.5% - ATY = 2.73% VMSXX - 3.74% - ATY = 3.53%, but this is misleading due to the variation in the muni rates over time and we are on a very steep upswing right now. VM...

I've moved from Ally to VUSXX. VMSXX has a wavy pattern that is discussed here in multiple threads. Ie sometimes it earns more then VUSXX and sometimes less so it was too much trouble (plus aren't muni's riskier than treasuries?) People post graphs and monitor it constantly eg https://www.bogleheads.org/forum/viewtopic.php?p=7119975#p7119975 Munis are risker than MMFs. Much of it depends on the state and city. NY had some that defaulted and it took a while for investors to be paid in full. Chicago and parts of CA get low ratings. There are also many high-grade offerings that are low-risk. The 2-month chart for VMSXX is crazy. It is hard to make money with that happening. That fund tries to keep the price at $1 so the yield is constantly ad...

So given all the above is there a clear winner for my situation VUSXX? VMRXX? VMSXX? It looks like in general these all exceed my Ally savings. I'm currently leaning toward VMSXX. It looks like My marginal federal tax is 35% and marginal state tax is 8.97% although that seems much higher than what i pay. This is assuming I don't have to pay state tax on VUSXX and no Federal tax on VMSXX. I had this exact same predicament. I've had emergency cash in Ally no penalty CDs (yielding 4% currently). Plugging in your effective tax rate into the spreadsheet I had made for myself, here are the returns after taxes (0.35% marginal rate as you state) and fund fees: - Ally: 2.6 - VMRXX: 2.84 - VSMXX: 3.59 You might want to check the numbers, but VSMXX s...

Anyone else see a clear So given all the above is there a clear winner for my situation VUSXX? VMRXX? VMSXX? It looks like in general these all exceed my Ally savings. I'm currently leaning toward VMSXX. It looks like My marginal federal tax is 35% and marginal state tax is 8.97% although that seems much higher than what i pay. This is assuming I don't have to pay state tax on VUSXX and no Federal tax on VMSXX. I had this exact same predicament. I've had emergency cash in Ally no penalty CDs (yielding 4% currently). Plugging in your effective tax rate into the spreadsheet I had made for myself, here are the returns after taxes (0.35% marginal rate as you state) and fund fees: - Ally: 2.6 - VMRXX: 2.84 - VSMXX: 3.59 You might want to check t...

So given all the above is there a clear winner for my situation VUSXX? VMRXX? VMSXX? It looks like in general these all exceed my Ally savings. I'm currently leaning toward VMSXX. It looks like My marginal federal tax is 35% and marginal state tax is 8.97% although that seems much higher than what i pay.

This is assuming I don't have to pay state tax on VUSXX and no Federal tax on VMSXX.

I wouldn't plan on moving money back and forth frequently. Is it typical for money market funds to generate more than high yield savings? I have a hard time seeing the advantage of a high yield saving if money markets are higher and have more tax benefits.

I currently keep about 200k in my ally account as an emergency fund. What are your thoughts? You probably don't need an “emergency fund” - we haven’t had one for 10 years, and yours is very likely an unnecessary. Read this and let us know what you think https://earlyretirementnow.com/2021/05/26/the-emergency-fund-is-still-useless/ The issue with the article is that he assumes cash is sitting at 0.03% interest when you can very easily get 5%+ guaranteed return today and that HELOCs and other forms of borrowing are at a much higher 7%+. You might argue that inflation is running higher than that so your savings are losing on a real basis, but equities do not typically perform well during periods of higher inflation. The risk adjusted return i...

My first thought is if the 200k was in cash for a purchase that is no longer happening, then it probably shouldn't be in cash anymore. Hard to answer more of your questions without knowing your marginal tax rates. In general MM funds have very slightly higher risk. Between the 2 you listed you will just have to calculate which has a higher after-tax yield for your own situation. IMO there is no problem with moving your money around as often as every day to capture the highest rate. But also there is nothing wrong with picking one "good enough" place to park cash. I put my effective tax bracket above. Marginally we are in the 35% federal tax bracket...although effective is much lower. Overall I probably have 60%US stocks, 20% inte...

I currently keep about 200k in my ally account as an emergency fund. This was going to initially be used for a downpayment on a new home but that is definitely not happening. I am now debating between keeping it is Ally, vs moving about 180k to Vanguard municipal money market fund (VMSXX) (which is federal tax free), or Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) which is at a higher rate but not tax free.

According to turbotax my effective tax rate was about 22.7% and I believe about another 5.7% in state tax. There are also obviously fees on the vanguard funds. Is there really an increased risk on money market funds? I have little experience with them. What are your thoughts?

My advice is to go read the IRS Publications and instructions for small businesses. I would read the Schedule C instructions. I would not waste my time asking on bogleheads.org how to fill out a Schedule C until after I did my own easy research and reading. Here is some help: https://www.irs.gov/pub/irs-pdf/p334.pdf https://www.irs.gov/pub/irs-pdf/i1040sc.pdf I try to read the information in turbotax, but obviously that isn't completely reliable. I appreciate the refrences and I will try to read them over. In the end, it seems to only be a difference of about $9 in taxes depending on if this is a qualified trade. It is definitely in the US and I don't beleive it is wage income so I think it is. I hope they wouldn't waste their time auditin...

123 wrote: ↑Sun Feb 05, 2023 4:40 pm If you filled out on-line medical surveys strictly as a consumer the 1099-MISC income likely just gets reported as other income on Schedule 1.

If you filled out on-line medical surveys based on your work experience and/or education in the health care industry (and your work experience and education was a qualification for doing the survey) then it is more likely that the compensation is self-employment income.

I am a physician, and I believe the surveys are only for physicians in specific specialties. It would be hard to argue that it does not relate to my work/education experience.

Duckie wrote: ↑Sun Feb 05, 2023 4:34 pm

scorcher31 wrote: ↑Sun Feb 05, 2023 2:02 pm So I did some medical surveys online which generated a 1099-misc. I enter in the data into turbotax...no big deal. Unfortunately now when I check for errors in turbotax it says I have to file a schedule C. I have never had a 1099-misc before so am pretty confused. Can someone help me along with this?

Which boxes on the 1099-MISC have amounts in them and what are those amounts? If you end up filing Schedule C you will probably also end up filing Schedule SE.

They issued a 1099-MISC. Only box 3 had a value in it and that was over $600

It asks if this a qualified trade under section 199A, I’d assume no For some reason when I worked through it, it came checked yes...there was a questions where it asked if this business needed healthcare knowledge...I wonder if thats why? it asks for principal business code (no idea what this is). There should be a drop down box with choices. Just choose the one that seems to fit best. I could not find one i just went misc 999999, guessing that is not a big deal It asks for busienss name (i think I can leave it blank) as well as address (is this just my home address?) . Either leave blank or if required just put your name and then use home address. Agree It asks for accounting method ( cash,accrual, other) I have no idea it deposits money ...

So initially I was doing it manually on the form on turbotax due to an error and missed the business income section that walked me through most of this. I do want to confirm that I would actually do a Schedule C for this. It was less than 1k in income. I would consider it taxable for sure, but wouldn't personally think of it as a business personally. The IRS I'm guessing has a different view on this. Any other input would be aprreciated.

This may make no difference, but I normally just get a W2. I don't run any sort of business.

So I did some medical surveys online which generated a 1099-misc. I enter in the data into turbotax...no big deal. Unfortunately now when I check for errors in turbotax it says I have to file a schedule C. I have never had a 1099-misc before so am pretty confused. Can someone help me along with this? It asks if this a qualified trade under section 199A, it asks for principal business code (no idea what this is). It asks for busienss name (i think I can leave it blank) as well as address (is this just my home address?) It asks for accounting method ( cash,accrual, other) I have no idea it deposits money the website wallet which i transfer to my checking. It asks if I materially participate in the operation of this business durign 2022 (I hav...

So I've done this with vanguard for years. This is the first year I see anything under 16 filled out (14 and 15 are still blank). I'm considering just leaving it bank for 16 when I enter it in turbo tax but also looking for input.

I worked a little bit in high-school for spending money, but my parents paid my car insurance, phone, meal plan and 4 year college room and tuition. When I went to med school I paid for everything.

My wife's parents took out loans for her and gave her the bill when she graduated. They essentially paid nothing.

We save 500 a month in a 529 for our only child. We will probably pay all expenses for 4 year college or equivalent. If for any reason there is anything left in 529 our child will get it.

Just was called, too close to the side to patch. Per what I was told, I just need 1 of the same tire, I think prorated with installation, disposal etc it would be $76 which im totally fine with. I asked them what it would cost for 4 tires with the warranty just to see and they said they would call me back. Typically people don't recommend me 1 tire but 2 or 4, so I assume that means there is enough tread on the others to safely do 1 or they wouldn't recommend it. What was the final outcome? So they were supposed to call me back in 30 minutes...I called them after 3 hours. The price for replacing 4 made no sense, more than if I bought them on the costco website without warranty and I truly think the guy over the phone was confused. Eventual...

Just was called, too close to the side to patch. Per what I was told, I just need 1 of the same tire, I think prorated with installation, disposal etc it would be $76 which im totally fine with. I asked them what it would cost for 4 tires with the warranty just to see and they said they would call me back. Typically people don't recommend me 1 tire but 2 or 4, so I assume that means there is enough tread on the others to safely do 1 or they wouldn't recommend it.

I did a walk in to costco this morning, they said they won't be able to look at it for 3-4 hours, and if i needed replacements they weren't in stock and would need to be ordered. I left it anyways at this point, figured If they won't patch it I would test the built in costco warranty out and see how it goes. Will update with final outcome.

finite_difference wrote: ↑Wed Dec 14, 2022 7:35 pm How many miles are on that tire? Looks pretty worn.

Not entirely sure. They are 2 years old. Im going to guess about 12k miles. At the beginning of the year the threads at the dealership were read 8/32 and 9/32. In Nov they were read as all 7/32 at the dealership. Im guessing they are probably about 8/32 still.

They are probably dirty and slightly scuffed, my SO has never been easy on her tires but they are probably in better shape than they look in the picture.

ClevrChico wrote: ↑Wed Dec 14, 2022 7:23 pm It looks too close to the edge (within 1/2 inch) to repair. You could measure to confirm, but I can't imagine a shop repairing it.

I have had great luck plugging tires with a Safety Seal plug kit when the puncture is repairable.

I was going to measure it but had a hard time figuring out what they would consider the edge as ridiculous as that sounds. I think its about .5 inches to the first line that wraps around the tire and .75 inches to the second (i think maybe the start of the sidewall)

bottlecap wrote: ↑Wed Dec 14, 2022 6:53 pm Looks like you got a shot at it being fixable.

If you need to replace, Costco should give you a matching tire at no cost.

JT

All tires bought through costco have a roadside warranty of some sort. In theory if they can't patch it they are supposed to prorate the wear and give it off new tires. The real question is will they refuse me because I haven't rotated the tires (takes hours to do at costco, wear is even, obviously had nothing to do with me getting a nail), will they agree to only pro rate 1 tire (all that's damaged) and then tell me i need 4 new ones.

Anyways thanks everyone for the input so far. Much appreciated.

Pretty close to the edge for most tire shops. This isn't an issue was ability or profit for them, its primarily and issue of liability. I would not expect Costco to repair that, but you may be surprised. 7/32 is pretty close to half life on those tires. How many years/miles do you have on them now? If you drive limited miles and the date code was close to or greater than 5 years I would just replace them all. If I was getting a good price, i.e. one is covered under warranty, I would probably go with all 4. Otherwise, if the tires are newer in age and I wasn't getting a deal, it would be a single tire replacement. Date stamp is 32nd week of 2020. They are probably 2 years old. I think the 7/32 may not be accurate, we probably put 10k miles ...

Hi all, just wanted to get some thoughts. My wife got a nail in her tire shown below. Tires are from Costco maybe 1-2 years old. Thread is 7/32 per last dealership oil change in November. https://postimg.cc/2bpdM0Tc https://i.postimg.cc/2bpdM0Tc/tire.jpg Costco could not make time for us tonight, but she is going to bring it in the AM. Do you think this is patchable? If not, is it reasonable to just get 1 replacement tire, if the other three are at 7/32 tread? I'm worried they may try to upsell my wife 2 or 4. The reason we are using costco is in theory they should fix it for free. They also are supposed to have some kind of road hazard warranty although don't know odds if them covering the tire. Is the nail in the tread? If so, Then have ...

livesoft wrote: ↑Wed Dec 14, 2022 6:14 pm It is in the tread and not the sidewall, so it is easily patched. You will know to tomorrow.

I had a Subaru with a slow leak unpatchable in the sidewall. Got a free tire at Discount Tire since the treadwear on all the tires was minimal.

But you know that every situation is different, so these anecdotes mean nothing.

Well it's helpful because I could just try to patch it myself...but likely wont. I'm expecting them to say it's the shoulder and they won't patch it. Now I'm just trying to figure out since they are relatively new tires does it make sense to just get 1 new one. I tend to be somewhat mistrusting of auto places in general.

Agent 99 wrote: ↑Wed Dec 14, 2022 6:12 pm If they won’t repair it and the car is 4 wheel drive all tires might have to be replaced. It depends on the spread of the tread measurements on each tire.

According do my inspection in Nov 2022, all 4 tires were at 7/32. The car is a front wheel drive toyota corolla.

ScooterBob wrote: ↑Wed Dec 14, 2022 5:58 pm Probably shot. Had a similar nail near the shoulder. No one would fix it. Tires were kinda worn so I just got new tires. There's a lot of stress on that part of the tire going around turns. I wouldn't take the chance.

Bob

Think it is reasonable to replace just 1 in my situation?

Hi all, just wanted to get some thoughts. My wife got a nail in her tire shown below. Tires are from Costco maybe 1-2 years old. Thread is 7/32 per last dealership oil change in November.

https://postimg.cc/2bpdM0Tc



Costco could not make time for us tonight, but she is going to bring it in the AM. Do you think this is patchable? If not, is it reasonable to just get 1 replacement tire, if the other three are at 7/32 tread? I'm worried they may try to upsell my wife 2 or 4. The reason we are using costco is in theory they should fix it for free. They also are supposed to have some kind of road hazard warranty although don't know odds if them covering the tire.

I was able to get an "Endorsement Guaranteed" stamp at Wells Fargo. I literally waited for a couple of hours, the branch manager stayed on hold with someone at corporate and they were told they could. I'm not sure why if they literally have these stamps sitting around, they needed permission, especially if your the branch manager. With that said, they really worked at it at my branch and I appreciated it. I was polite and explained this was pretty much the only way to buy savings bonds now a days. They did say they don't offer Signature Medallions anymore so maybe try to ask for the Endorsement Guaranteed stamp.

I just got the hisence 65 u8g from Amazon for 850 a couple weeks ago and thinks its great so far. It had excellent rtings reviews. I'm still waiting to pick up ps5 to go with it. I can't spend twice the price on the oled. I also find oleds aren't bright enough rooms with a lot of sun/light.

Not sure how so many people are still up. I have a feeling those that are losing a lot aren't posting. We are down from 2 million invested to about 1.65 mil invested so far this year and we had to have put at least 100k into the investments this year. This is with probably 70%us equity, 20%international equity, 10% bonds. I have to say its painful, because it seriously slows down my progress to my early retirement goal.

If anyone is curious on my timeline for your own reference:

I mailed the form out May 16th. I called on Friday June 10th asking if they had my form, they said they have not come across it yet, but they are sure it was not lost. On June 11th, I got an email from Treasury Direct that they had received my materials (I assume my form) and would be opening a case.

ModifiedDuration wrote: ↑Fri Jun 03, 2022 7:21 am Some people here have said they were able to get their account unlocked in a day or two by emailing the form to:

Treasury.Direct@fiscal.treasury.gov

Thank you I'll keep this in mind as a last resort if I don't hear from them. I would do it now, but then I won't know if my initial form got lost which has my account number, personal information and SSN on it. Never had something like that lost in the mail before and it freaks me out a bit so I want to see if it comes through.

wolf359 wrote: ↑Fri Jun 03, 2022 7:30 am Keep trying to log in if it's about the right amount of time. I was able to see that the account was unlocked before they notified me.

It was about 2-3 weeks for me, around May 1.

It will be 3 weeks Monday for me, still have not heard but will continue to try as above. So far no luck.

I mailed the form in on 5/16/22 still have not received confirmation they have received my form. I tried to call them starting 8:05 this AM and it said there was a 2 hour wait which would conflict with my job so I'm pretty much stuck until I am on vacation in a month so I can actually stay on hold.

Anyone send it in around the time I did and hear back already? Anyone still waiting for a response?

Exceptions aside, declining inflation just means prices aren’t going up as fast, but they’ll still be increasing. So no, I’d not expect prices to revert to pre-COVID levels. Some prices may go down. For example, oil jumps up and down a lot and I think the current jump up in oil is more of contributing factor to, rather than a result of, inflation. I agree with this. From my point of view a piece of this is supply chain issues because of shut downs in China, and oil/gas prices effected by Russia/Ukraine war. If somehow there is a significant policy change in China that result in no shuts downs or the war comes to an abrupt end with increase in oil and a subsequent decrease in gas prices, I would expect prices for a lot of consumer goods to ...

If it was me, I would move 10 million from the risky investments to move conservative us/international and bond funds. With whatever you have left pay the taxes and feel free to play with as you have been doing. There you are pretty much Financially independent. You don't need to save another penny. Just work for what you spend.

So I was one of the many that had their initial Treasury Direct account put on hold and ask to send in a form to authorize my identity. I sent in the form about 2 weeks ago and still have not heard anything and my account is still locked/not activated. I always get nervous when I send in forms like this because it contains my social and all identifying information. How long does this process take for you (to hear from treasury direct or account to be activated)? I'm hoping it's not lost.

I can't imagine why anyone not retired would be selling at all right now unless you desperately needed the money to survive. Why would anyone sell after the market has a 20% drop seems more like a time to ramp up purchasing. I am not counting tax loss harvesting because it goes out of one index fund and into an *almost identical one.

I have no legal experience but I'm curious. Can't a divorce lawyer just take a certain percent of the total winnings/payout with no retainer? I know that is how it can work with injury cases and malpractice cases at times. California is a 50/50 split state so if there are millions in total, the lawyer could make great money by agreeing to takes 5-10% of the wife's awarded monies. If the husband's accounts are locked down when the divorce is filed, there is no reason to think they would not get the money. As a physician what I can say is, many of us have no parental help to fund our education. I wouldn't not be worried about paying for your adult children. You husband may still do that, and there is a possibility the 529 could be frozen and ...

I would get more quotes if that is a shingle roof. We had our home and garage done with architectural shingles from a reputable company with some upgrades for $8400 just last month.

Why are you involved? LOL, you're asking why a father is involved in helping his daughter sort out a medical and then fiscal crisis? The OP shouldn't be involved in the financial aspect of this situation. The medical aspect is completely different; medical decisions can be extremely time-sensitive and sometimes a person might even be incapacitated and unable to make decisions for themselves. It would be common for a parent to be involved under those circumstances, just as later in life it would be typical for a child to be involved in a parent's medical decisions. But the issue is whether the parent of an adult daughter should feel obligated to pay bills the daughter can't. And this isn't some marginal adult, it's a 28-year-old. There's no...