Search found 1415 matches

by CAsage
Tue Oct 15, 2019 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Lump Sum vs. Income/Tax Issues Only
Replies: 1
Views: 102

Re: Lump Sum vs. Income/Tax Issues Only

Well, of course, you will pay ordinary income taxes on that Traditional IRA conversion to Roth, each year you convert any $$. But you can choose what year to advance or defer that conversion unlike a recurring pension. The IRS gets paid either way. You might model long term taxes taking into account...
by CAsage
Tue Oct 15, 2019 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity DAF--how to minimize fees
Replies: 9
Views: 536

Re: Fidelity DAF--how to minimize fees

I must be the odd egg head on this one! I could not care less about the very small fees that Fidelity charges (and I have a Fidelity DAF because the minimums were higher than my budget at Vanguard). Honestly, the overhead in charities in general, administration, fundraising, fees etc will enormously...
by CAsage
Mon Oct 14, 2019 1:10 pm
Forum: Personal Investments
Topic: Transferring American Funds to Vanguard
Replies: 24
Views: 1032

Re: Transferring American Funds to Vanguard

Right, it just seems [ridiculous] to me that swapping American Funds' growth fund (which holds Microsoft, Verizon, etc.) for Vanguard's growth fund (which holds Microsoft, Verizon, etc.) should result in a taxable event. Just whining about taxes basically, didn't mean to get the thread off topic. I...
by CAsage
Sun Oct 13, 2019 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Beneficiaries on Retirement Accounts
Replies: 13
Views: 1351

Re: Beneficiaries on Retirement Accounts

It would be helpful if your Mom would show you the actual beneficiary designation on her accounts, or print them out, so you can see the hierarchy and percentages or details. And, yes, as others have noted, you need to determine if Mom lives in a state where the spouse has to sign off on releasing a...
by CAsage
Sun Oct 13, 2019 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: How to calculate taxes for selling/converting fund?
Replies: 3
Views: 269

Re: How to calculate taxes for selling/converting fund?

You've got it right. Fine points - make sure there are no "realized" gains or losses that from prior sales (unlikely, but one can forget). Selling for any reason is the same. If you bought shares at different times, there might be different "lots" with different cost basis, so you might be able to s...
by CAsage
Fri Oct 11, 2019 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Statements-Save Paper Ones? Electronic?
Replies: 35
Views: 1697

Re: Credit Card Statements-Save Paper Ones? Electronic?

Tax deductible paper receipts get tossed into an annual file folder (and I should scan those when I do my taxes, to save with the return files). Receipts for major purchases - save, but should scan. In 40 years I have never needed an old utility or credit card bill or any kind of bank statement... s...
by CAsage
Wed Oct 09, 2019 8:13 pm
Forum: Personal Consumer Issues
Topic: Concerned I may have somehow gotten scammed on Craigslist (as a seller)...
Replies: 28
Views: 3887

Re: Concerned I may have somehow gotten scammed on Craigslist (as a seller)...

What information other than your pickup address and possibly a phone number to coordinate? That should be the max. Hopefully not any Paypal - with craigslist, you really are way better off going strictly cash and carry. $20 bills and under. I'm sure they could pay you with Paypal, pick it up, and th...
by CAsage
Tue Oct 08, 2019 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: tax "training" using TurboTax CD ?
Replies: 12
Views: 961

Re: tax "training" using TurboTax CD ?

Another truly excellent and free tool is the www.excel1040 spreadsheets, which you can download and update copies to your heart's content. The author has reproduced darn near all the 1040 in Excel sheets, so you can direct enter the data... Quick to play! It's also on this link: https://sites.google...
by CAsage
Thu Oct 03, 2019 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Buying and living in a multi family unit
Replies: 24
Views: 1107

Re: Buying and living in a multi family unit

I've never owned rental property, but I think this sounds like a great plan. Work out the details by sitting down with a mortgage broker to find out what the loan payments would be, the taxes, get an inspector out to see what maintenance you might be having to pay for soon. I would totally look into...
by CAsage
Wed Oct 02, 2019 4:32 pm
Forum: Personal Investments
Topic: Retirement account/complete financial ignorance
Replies: 4
Views: 549

Re: Retirement account/complete financial ignorance

Be careful who you consider "trusted folks locally". There are many financial advisers ... often considered synonymous with hardened criminals (and we are only half kidding).. Without more information about your overall financial condition and other accounts, really good targeted advice will be hard...
by CAsage
Tue Oct 01, 2019 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: properly accounting for previous year tax payments when paid in 2019 question
Replies: 4
Views: 328

Re: properly accounting for previous year tax payments when paid in 2019 question

I've only personally seen 1099-G associated with State taxes, as State income (refunds) may be taxable and payments are (sometimes...) deductible. Not Federal. That the IRS tracks, but you don't account for it anywhere else.... that I can think of....
by CAsage
Tue Oct 01, 2019 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Family Legacy Services - what is this?
Replies: 12
Views: 1648

Re: Vanguard Family Legacy Services - what is this?

Or existing Vanguard customers they know and love.... The real question is still - what exactly are they offering? Keep the future beneficiaries in house? Not have them blow the money by the 3rd generation - that takes all the fun out of it.
by CAsage
Sun Sep 29, 2019 10:01 pm
Forum: Personal Consumer Issues
Topic: will counter sag on custom built tv unit?
Replies: 13
Views: 933

Re: will counter sag on custom built tv unit?

There is also a 79 inch width by 2 to 3 inch plywood (3/4 inch) running along the width of the cabinets and just below the 3/4 inch plywood counter top. This piece of plywood is for supporting the counter (?) and for screwing into the studs. The thing to focus on is the open spans between the verti...
by CAsage
Sat Sep 28, 2019 12:11 pm
Forum: Personal Consumer Issues
Topic: advise re small freezer
Replies: 7
Views: 299

Re: advise re small freezer

I'm visualizing that in an earthquake.... How about getting one of those grabber tong things instead, and just don't overload the freezer so things are easily grabbed? Those appliances are very heavy!
by CAsage
Sat Sep 28, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Beneficiary passes, leaves hospital bills, can hospitals get money from her trust fund until paid in full?
Replies: 24
Views: 4706

Re: Beneficiary passes, leaves hospital bills, can hospitals get money from her trust fund until paid in full?

State laws may apply, but I think in a lot of cases spouses are responsible for each other's medical, housing etc expenses. Do you have a cite for this? As always in legal issues, divorce, money, google on it! It can vary wildly. Depends on state laws. YMMV. https://www.hg.org/legal-articles/can-i-...
by CAsage
Thu Sep 26, 2019 12:07 pm
Forum: Personal Investments
Topic: Easiest way to split inherited stock with two siblings
Replies: 38
Views: 2070

Re: Easiest way to split inherited stock with two siblings

The shares are in your uncle's personal TD account? That's ... .odd... I think if the shares are transferred in kind to any one of you, and you sell them, and then report 1/3 gain on your tax return and attach a clear statement that 1/3 of gain which will be on your 1099 belongs to Jane and Joe, SSN...
by CAsage
Wed Sep 25, 2019 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Beneficiary passes, leaves hospital bills, can hospitals get money from her trust fund until paid in full?
Replies: 24
Views: 4706

Re: Beneficiary passes, leaves hospital bills, can hospitals get money from her trust fund until paid in full?

State laws may apply, but I think in a lot of cases spouses are responsible for each other's medical, housing etc expenses. Possibly credit card debit... it's messy. The real key here is the details of the trust, and her will, and the trustee and executor need to sort it out.
by CAsage
Tue Sep 24, 2019 7:25 am
Forum: Personal Consumer Issues
Topic: Inside dishwasher smells after cleaning dishes...
Replies: 24
Views: 1341

Re: Inside dishwasher smells after cleaning dishes...

Does it smell all the time, or only briefly after running a cycle? Can you pour in a cup of bleach and run a cycle? I'd just keep the door closed....
by CAsage
Thu Sep 19, 2019 1:26 pm
Forum: Personal Consumer Issues
Topic: Mailing Laptop internationally rejected by US customs
Replies: 15
Views: 1641

Re: Mailing Laptop internationally rejected by US customs

Tech export limitations? I know some things (not sure which...) are not permitted abroad due to fraud/theft/pirating/export restrictions. What on earth is on that physical device that you can't just chuck it to a nearby toxic e-waste recycler (you said it was your old laptop..) and email the files,...
by CAsage
Thu Sep 19, 2019 1:24 pm
Forum: Personal Consumer Issues
Topic: How to handle "split-the-bill" group lunches?
Replies: 159
Views: 7554

Re: How to handle "split-the-bill" group lunches?

Group lunches with acquaintances - this always comes up, though not discussed. There's one who will order an appetizer, someone will frugally get a lunch special, people who drink water and not soda or tea or alcohol. If you have a group where the alcohol bill starts to edge up to the food bill, the...
by CAsage
Thu Sep 19, 2019 9:30 am
Forum: Personal Consumer Issues
Topic: Mailing Laptop internationally rejected by US customs
Replies: 15
Views: 1641

Re: Mailing Laptop internationally rejected by US customs

Tech export limitations? I know some things (not sure which...) are not permitted abroad due to fraud/theft/pirating/export restrictions. What on earth is on that physical device that you can't just chuck it to a nearby toxic e-waste recycler (you said it was your old laptop..) and email the files, ...
by CAsage
Wed Sep 18, 2019 2:37 pm
Forum: Personal Consumer Issues
Topic: Home energy/electricity monitoring?
Replies: 56
Views: 2751

Re: Home energy/electricity monitoring?

We used 922 kWh last month with a total cost of $206.84, which comes out to an actual cost of around 22.4 cents/kWh. I'm completely blown away here. What on earth are you powering in a condo that drains that much electricity? I have a plain old house, which has been retrofitted with LED/CFL everywh...
by CAsage
Wed Sep 18, 2019 2:25 pm
Forum: Personal Consumer Issues
Topic: Cheaper option than redoing hardwood floors?
Replies: 27
Views: 2310

Re: Cheaper option than redoing hardwood floors?

Stain goes on bare wood to change color (and enhance the grain). Then a sealing protective coat goes on that, either varnish or urethane or something.... That's designed to not accept more liquids or paints because... that's what it does. You have to remove all the second layer before you can change...
by CAsage
Wed Sep 18, 2019 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Best Method to Inherit House
Replies: 19
Views: 2294

Re: Best Method to Inherit House

I'll agree with your conclusion, but point out one issue. Your deed to your house is transferable on death, no payable. And, you have two kids. So they will each inherit 50% of the house at the value on the day the last of you passes. If kid #1 wants to sell and kid #2 doesn't want to, and kid #2 c...
by CAsage
Wed Sep 18, 2019 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6184

Re: Tax avoidance and estate planning ‘for the rich’?

Looking at the chart below, I read the the maximum for Part B is $460 per person? You could then add in Part D (drugs) or Part C (advantage). I read the chart as the higher income consumer is now picking up 80% of the actual cost, and Medicare is not a for-profit enterprise. YMMV. https://www.medic...
by CAsage
Wed Sep 18, 2019 8:30 am
Forum: Personal Consumer Issues
Topic: $2k repairs on $12K car
Replies: 81
Views: 4962

Re: $2k repairs on $12K car

When my car got past the "honeymoon" warranty period and was paid off, I budgeted $500~$1000 annually for maintenance and the usual repair of one system (tires, radiator, whatever). Still way cheaper than a new car, and all cars require fluids and consumables changed or replaced. This is normal. I k...
by CAsage
Tue Sep 17, 2019 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Tax avoidance and estate planning ‘for the rich’?
Replies: 61
Views: 6184

Re: Tax avoidance and estate planning ‘for the rich’?

I’m not there yet, but I’ve wondered what “robust” traditional Medicare (“all-in”, with a good supplement and Part D...NOT Medicare Advantage) will cost a high income person. So you’re saying $800/month per person, give or take, at present? Looking at the chart below, I read the the maximum for Par...
by CAsage
Sun Sep 15, 2019 2:57 pm
Forum: Personal Investments
Topic: wisdom of moving a CD ladder
Replies: 5
Views: 822

Re: wisdom of moving a CD ladder

The beneficiaries of the CDs cannot be members of that credit union. It is my understanding that they can leave the CDs in it until maturity, at which time they have to cash them in. OI would wait for the maturity date, and of course, want the highest rate of interest available. How do I do that, w...
by CAsage
Sun Sep 15, 2019 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Deduction for work related expenses?
Replies: 4
Views: 403

Re: Tax Deduction for work related expenses?

If you are a regular employee, I would very much expect your employer to pay basic travel costs - approved hotels, some food, air or gas.... If you are a contractor, then would this not go on your Business return or Schedule SE as expenses? Note that this is different than the pre-2018 personal dedu...
by CAsage
Sun Sep 15, 2019 12:14 pm
Forum: Personal Consumer Issues
Topic: Floating flooring for hallway?
Replies: 2
Views: 381

Re: Floating flooring for hallway?

Do you include laminate flooring? I've found those to be pretty heavy once you connect half a dozen planks. I have them all over, including the small hallway between the kids' bedrooms (and that does attach to a coat closet). I really don't think it's going to go anywhere.... There are 1/4" expansio...
by CAsage
Sat Sep 14, 2019 11:55 am
Forum: Personal Consumer Issues
Topic: What dish soap do you use?
Replies: 54
Views: 3005

Re: What dish soap do you use?

I paper towel off excess food debris with a few wipes, because my theory is otherwise the filter would load up. Usually 1-3 dishes a load require this. I just scrape it off with either my kitchen sponge or the scrub brush that's always in my sink - and any excess goes right down the disposal! I wil...
by CAsage
Fri Sep 13, 2019 8:53 pm
Forum: Personal Consumer Issues
Topic: Hardie Siding Nailing at window trim location
Replies: 5
Views: 504

Re: Hardie Siding Nailing at window trim location

CAsage wrote:
Fri Sep 13, 2019 7:31 pm
I installed this on a freestanding building once. I think that the plywood sheathing will take care of the issue, since you are at least grabbing wood, and not letting the ends float. And I caulked each tier of the siding to the window trim as I went up the wall....
by CAsage
Fri Sep 13, 2019 7:31 pm
Forum: Personal Consumer Issues
Topic: Hardie Siding Nailing at window trim location
Replies: 5
Views: 504

Re: Hardie Siding Nailing at window trim location

I installed this on a freestanding building once. I think that the plywood sheathing will take care of the issue, since you are at least grabbing wood, and not letting the ends float.
by CAsage
Fri Sep 13, 2019 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Managing joint finances when one is a perfectionist
Replies: 122
Views: 7666

Re: Managing joint finances when one is a perfectionist

For a "fun" date night, both of you run copies of your credit reports and sit down and compare. If anyone is truly missing payments or running up interest due to inattention - that's going to cost. Real money. And that will impact you both if you want to share that financial future. Best solution fo...
by CAsage
Fri Sep 13, 2019 3:07 pm
Forum: Personal Consumer Issues
Topic: What dish soap do you use?
Replies: 54
Views: 3005

Re: What dish soap do you use?

Consumer reports has good info on washing machines. What I recall is that you are literally supposed to just scrape the dishes and load it up. The newer dish tablets have enzymes and longer wash cycles to dissolve all the dried on food, and that is where the savings in water comes from. Give it a tr...
by CAsage
Fri Sep 13, 2019 3:05 pm
Forum: Personal Consumer Issues
Topic: Finding discontinued tile or stain existing tile?
Replies: 10
Views: 523

Re: Finding discontinued tile or stain existing tile?

What about one of those companies that refinish bathtubs? I've seen ads for redoing bathrooms, that purport to cover up the old vintage pink or green or whatever tile. Maybe they could just do the tile (not floor or tub) of your bath after it's redone. I don't know of any other way to "stain" tile -...
by CAsage
Fri Sep 13, 2019 2:47 pm
Forum: Personal Investments
Topic: Credit check to join credit union
Replies: 9
Views: 1041

Re: Credit check to join credit union

It's been my experience that to have any sort of account (CD, credit card, etc) at a Credit Union, first you need to "join" and have a $5 savings account opened. They have every right to their own rules! It was simply a question regarding what others have experienced, as doing a hard pull, that can...
by CAsage
Fri Sep 13, 2019 7:55 am
Forum: Personal Investments
Topic: Credit check to join credit union
Replies: 9
Views: 1041

Re: Credit check to join credit union

It's been my experience that to have any sort of account (CD, credit card, etc) at a Credit Union, first you need to "join" and have a $5 savings account opened. They have every right to their own rules!
by CAsage
Fri Sep 13, 2019 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Helping elderly parents manage finances - pros and cons
Replies: 62
Views: 4757

Re: Helping elderly parents manage finances - pros and cons

In addition, for a long period of time, almost 10 years, I actually categorized her spending and produced reports (from Quicken), with comments about where she went up or down, and how to better conserve her funds. Did you also tell her what her allowance would be? While it's undoubtedly helpful to...
by CAsage
Tue Sep 10, 2019 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Opinion on Will / Estate issue?
Replies: 29
Views: 2290

Re: Opinion on Will / Estate issue?

Were there no cash accounts that would need to be probated ... say in order to pay the bills at least? How will the bills be paid? I guess you don't need probate to divide up the household and personal goods .... If it were my cousin, I'd push a bit just to uphold her wishes, even if you still got n...
by CAsage
Tue Sep 10, 2019 12:02 am
Forum: Personal Investments
Topic: RMD & Charitable Contribution
Replies: 17
Views: 1407

Re: RMD & Charitable Contribution

Small, foolish suggestion: Why not simply cash out your wife's IRA this year (or donate it all to charity) and be done with one whole account? That would simplify your account management. No difference to your overall lifestyle, but would save a bit of paper and fuss.
by CAsage
Mon Sep 09, 2019 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Opinion on Will / Estate issue?
Replies: 29
Views: 2290

Re: Opinion on Will / Estate issue?

If there is a problem with the will not being valid, it might fall to the brother under intestate laws (i.e. he's next in the absence of parents or children). But I would think there is still some delay in probating the will, and he can't just move in? Just guessing here. This was your best advice: ...
by CAsage
Sun Sep 08, 2019 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Girlfriend/Living Will/Trust question...
Replies: 19
Views: 1962

Re: Girlfriend/Living Will/Trust question...

I would certainly mention the house disaster. Is he even still paying taxes or any maintenance? I would also suspect if he's got a new girlfriend, and she's an attorney.... there probably is a new will, and it won't be any nicer. It's odd to specify an exact dollar figure in a will, I presume your f...
by CAsage
Sun Sep 08, 2019 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Help understanding Roth for minor
Replies: 14
Views: 1183

Re: Help understanding Roth for minor

This is because self-employed earned income (business profits - 1/2 SE tax) is their IRA compensation. The 1/2 SE tax is not 92.35% of their business profits. Rather it is 7.65% * business profits * 92.35% if they are still subject to the SS component of SE taxes. The first sentence is right. I nev...
by CAsage
Sun Sep 08, 2019 6:47 am
Forum: Personal Investments
Topic: need help with strategy to sort out parent's finances
Replies: 28
Views: 3501

Re: need help with strategy to sort out parent's finances

Agree with above posters. The very first question is what changes they are actually willing to make. Then, you can see about selling one property (or wait until the first one passes, at which point changes may be appropriate and they can sell without capital gains due to step up basis). The best sol...
by CAsage
Sat Sep 07, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: CA taxes & allowances
Replies: 6
Views: 614

Re: CA taxes & allowances

Are you truly saying that a single paycheck with the exact same income with two different CA DE-4 withholding has the exact same amount withheld? Then your payroll company is messing up, big time. When employed... I would adjust the withholding heavily to get to the "right" amount, but you may need ...
by CAsage
Sat Sep 07, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Help understanding Roth for minor
Replies: 14
Views: 1183

Re: Help understanding Roth for minor

Either way, you can put 92.35% of his gross income into that Roth, up to the annual limit. (SS/Medicare is 7.65% for 2019). Make sure you keep good records to justify the earnings and comps. This is not correct. IRA contributions are limited to the lessor of the IRA contribution limit or their comp...
by CAsage
Fri Sep 06, 2019 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Help understanding Roth for minor
Replies: 14
Views: 1183

Re: Help understanding Roth for minor

Can't answer W2 vs 1099... with the W-2, you pay 1/2 his SS/Medicare and the other half comes out of his income, and with the 1099, he needs to pay it all when you file his tax return and a Schedule C for self-employment. Either way, you can put 92.35% of his gross income into that Roth, up to the a...
by CAsage
Fri Sep 06, 2019 3:52 pm
Forum: Personal Investments
Topic: i-ORP Roth Conversion Analysis
Replies: 7
Views: 711

Re: i-ORP Roth Conversion Analysis

... I put together a spreadsheet where I estimated my taxes, year by year, thru the first year I'll have to start RMD's (2024). Based on my calculations I will be in the 22% bracket when RMD's and SS begins. I haven't carried it forward to when my wife starts taking SS, but it could put us into the...
by CAsage
Fri Sep 06, 2019 1:10 pm
Forum: Investing - Theory, News & General
Topic: Can you lose money by buying CDs?
Replies: 24
Views: 2493

Re: Can you lose money by buying CDs?

One extreme example would be if you were suddenly slightly over an IRMAA cliff (Medicare cost) by $1. Then you are in a higher tier of cost. Otherwise ... taxes generally reduce your interest, and you tend to lose money in CD's through inflation. They are for safety, not making money. But if you fol...