Search found 1294 matches

by TropikThunder
Fri Apr 19, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: mailed US tax check 4/13 - not cashed yet
Replies: 56
Views: 13987

Re: mailed US tax check 4/13 - not cashed yet

my federal check, mailed 4/13 was cashed today. state not done yet. You started this thread 5 years ago. It has been dormant for years. What’s up. Cheers It’s a mystery. But if I read correctly, 5 years ago the fed was uncashed but state was, now the roles are reversed. Ok. So? Five years later. Re...
by TropikThunder
Fri Apr 19, 2019 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: The reality of borrowing from your 401k for home mortgage
Replies: 48
Views: 2753

Re: The reality of borrowing from your 401k for home mortgage

Right, that’s very recently too. Note it’s 2018. Note it also contradicts what you originally said, and what I originally replied to. I think if you change job, you have to pay back right away and pay tax and early withdrawal fee . That’s the downside. It depends on the plan. Back in the 80s, borro...
by TropikThunder
Fri Apr 19, 2019 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: The reality of borrowing from your 401k for home mortgage
Replies: 48
Views: 2753

Re: The reality of borrowing from your 401k for home mortgage

This link also confirms my comment. https://www.thebalance.com/facts-about-401k-loans-2388811 From the source you posted: The 2018 Tax Credit and Jobs Act (TCJA) extended the repayment deadline from 60 days to the day your federal income tax return is due. ............. If the loan is not repaid ac...
by TropikThunder
Fri Apr 19, 2019 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: The reality of borrowing from your 401k for home mortgage
Replies: 48
Views: 2753

Re: The reality of borrowing from your 401k for home mortgage

It depends on the plan. Back in the 80s, borrowing from my 401k, I didn’t have time me to pay it back when I switched job. Maybe things have been improving since. The payment you can make, but what about the tax you have to pay and penalty for early withdrawal. Which is exactly what I said. The dif...
by TropikThunder
Fri Apr 19, 2019 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: The reality of borrowing from your 401k for home mortgage
Replies: 48
Views: 2753

Re: The reality of borrowing from your 401k for home mortgage

I think if you change job, you have to pay back right away and pay tax and early withdrawal fee. Every “401k loan yes/no” thread has someone making this statement and it’s misleading. Worst case, you have until the following tax filing date (including extension). However, depending on the plan set ...
by TropikThunder
Thu Apr 18, 2019 12:07 pm
Forum: Personal Consumer Issues
Topic: Best and cheapest way to finance a new car: dealership?
Replies: 23
Views: 1852

Re: Best and cheapest way to finance a new car: dealership?

Noble Knight wrote:
Thu Apr 18, 2019 8:31 am
It was a lot more than $28,500 and you're looking at it from the wrong angle.
I’m just looking at it from the “angle” of total expenditure (although I made a math error). Not sure what the “right angle” would be.
by TropikThunder
Thu Apr 18, 2019 12:05 pm
Forum: Personal Consumer Issues
Topic: Best and cheapest way to finance a new car: dealership?
Replies: 23
Views: 1852

Re: Best and cheapest way to finance a new car: dealership?

I’ve personally found dealerships offer the lowest rates. In March I was able to get dealer financing for 1.9% for 60 months with a $2,500 down payment. They offered to take another $1,500 off, but the financing would be 3.9% and I laughed. Depending on the amount of the loan, the dealer may be the...
by TropikThunder
Thu Apr 18, 2019 12:39 am
Forum: Personal Consumer Issues
Topic: Best and cheapest way to finance a new car: dealership?
Replies: 23
Views: 1852

Re: Best and cheapest way to finance a new car: dealership?

I’ve personally found dealerships offer the lowest rates. In March I was able to get dealer financing for 1.9% for 60 months with a $2,500 down payment. They offered to take another $1,500 off, but the financing would be 3.9% and I laughed. Depending on the amount of the loan, the dealer may be the...
by TropikThunder
Tue Apr 16, 2019 8:40 am
Forum: Personal Investments
Topic: Fidelity ZERO Total Market Index closed to new investors?
Replies: 6
Views: 1281

Re: Fidelity ZERO Total Market Index closed to new investors?

That's odd, I have it in my Traditional IRA with Fidelity. You'd think the Fidelity guy would have told me that - he just said it should re-open but he didn't know when . :shock: Wait, you called Fidelity and their rep agreed the fund was closed and didn't know when it would re-open? And they say V...
by TropikThunder
Mon Apr 15, 2019 5:05 am
Forum: Personal Finance (Not Investing)
Topic: No need to file a tax extension form?
Replies: 27
Views: 1699

Re: No need to file a tax extension form?

FYI, you don't specifically have to use EFTPS to make the extension-granting payment. You can use Direct Pay or their credit/debit card portal. I used Direct Pay since it takes a few days to get your PIN in the mail for EFTPS. I think these methods are better than mailing a paper form certainly, sin...
by TropikThunder
Sun Apr 14, 2019 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Late K1
Replies: 9
Views: 929

Re: Late K1

You can wait for the IRS to issue an assessment, in which case you will likely owe just the additional $200 tax, plus interest. +1 Wait on the IRS's matching letter. Then pay the bill. Amended returns are a headache. And if you go to a CPA, they will charge more than that just to file the amendment...
by TropikThunder
Sat Apr 13, 2019 11:45 pm
Forum: Investing - Theory, News & General
Topic: Crypto bulls are back. Are you getting in?
Replies: 105
Views: 7911

Re: Crypto bulls are back. Are you getting in?

Who needs this, other than drug dealers, pedophiles, and other criminals? There are very few legitimate use cases. Even if you find one, cash is probably a better fit anyway, as bitcoin and other cryptocurrencies are only really anonymous if you don't transfer in and out of fiat money. You don't ne...
by TropikThunder
Sat Apr 13, 2019 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Accidentally overcontributed to my HSA
Replies: 5
Views: 404

Re: Accidentally overcontributed to my HSA

Given the small amount of the excise tax in your case ($21), I'd probably leave it and pay the penalty. Have you filed your tax return yet? Perfect, I'm working on my return right now and when I entered my contributions it detected the excess and my amount owed went up by exactly $21 - thank you! I...
by TropikThunder
Fri Apr 12, 2019 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Tax Income Question
Replies: 12
Views: 677

Re: Roth IRA Tax Income Question

You're misunderstanding what the website says. She doesn't contribute to your Roth IRA, she contributes to her Roth IRA and you contribute to your Roth IRA. As long as you file taxes as Married Filing Jointly, even if you have $0 income you can still contribute based on joint income. It doesn't mat...
by TropikThunder
Fri Apr 12, 2019 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Tax Income Question
Replies: 12
Views: 677

Re: Roth IRA Tax Income Question

Thank you for your response. I thought this was the case but I wanted to make sure. I didn't want to have a potential letter written to me that I did this improperly or trigger an unnecessary audit. I will try to submit $5,500 to each for the 2018 tax deadline if it allows. Glad to help. I added on...
by TropikThunder
Fri Apr 12, 2019 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Tax Income Question
Replies: 12
Views: 677

Re: Roth IRA Tax Income Question

My question: Can my wife contribute/put money into a separate Roth Ira account in my name for me even if I have a negative income number? If she can, can we both contribute $5,500 to our two separate Roth Ira accounts for the 2018 tax year? The reason I ask is because the IRS website to me clearly ...
by TropikThunder
Thu Apr 11, 2019 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: HSA and FSA
Replies: 4
Views: 322

Re: HSA and FSA

+1 to BeneIRA. To add, if one spouse has a General Purpose FSA (covering medical, dental, and vision) then by default both spouses are considered covered under that FSA. You can use funds in your FSA to pay for certain medical and dental expenses for you, your spouse if you’re married, and your depe...
by TropikThunder
Wed Apr 10, 2019 1:14 pm
Forum: Personal Investments
Topic: Best time to contribute money to Roth IRA?
Replies: 17
Views: 1290

Re: Best time to contribute money to Roth IRA?

I have a related question. I have my 2017 and 2018 Roth IRA with Vanguard, and now I'm curious how Fidelity compares with Vanguard. (My 401k is with TIAA and 457 with Nationwide.) Does it hurt to do my 2019 Roth IRA with Fidelity in a new account? The choice of investment is far more important than...
by TropikThunder
Wed Apr 10, 2019 2:42 am
Forum: Personal Finance (Not Investing)
Topic: Notice to vacate/late rent
Replies: 59
Views: 5692

Re: Eviction notice

This might be helpful: https://www.nolo.com/legal-encyclopedia/eviction-notices-nonpayment-rent-texas.html My reading of this is that a landlord in Texas may evict a tenant if the tenant is 1 day late with rent?? I hope I'm wrong. that's shocking. That’s what it looks like to me too. Don’t mess wit...
by TropikThunder
Wed Apr 10, 2019 2:31 am
Forum: Personal Finance (Not Investing)
Topic: MFS split income/deduction/credit
Replies: 6
Views: 457

Re: MFS split income/deduction/credit

Once you have determined how to split both your combined income and tax withholding between you and your spouse, continue with your state tax return.” Gosh I’m sure it never occurred to OP to read the directions .... OP, take a look at IRS Form 8958 Allocation of Tax: https://www.irs.gov/pub/irs-pd...
by TropikThunder
Tue Apr 09, 2019 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Which lenders give mortgage pre-approval good for >4 months?
Replies: 23
Views: 1312

Re: Which lenders give mortgage pre-approval good for >4 months?

This is how I usually handle things with my buyers. They get pre-approved with the lender of their choice. At this stage the pre-approval has more to do with the type of financing- conventional, FHA, DVA and maximum price. I will talk with the lender and they will let me know if the buyer needs clo...
by TropikThunder
Sat Apr 06, 2019 6:35 pm
Forum: Investing - Theory, News & General
Topic: Obscure IRA Rules
Replies: 12
Views: 1483

Re: Obscure IRA Rules

Would you please provide reference materials would be helpful for meeting of the minds. See IRS Publication 969 Health Savings Accounts and Other Tax-Favored Health Plans, Health Savings Accounts (HSAs), Qualified HSA funding distribution, page 5. +1. To expand a little for those who only glossed o...
by TropikThunder
Sat Apr 06, 2019 12:03 pm
Forum: Investing - Theory, News & General
Topic: The "dividend preference anomaly"
Replies: 183
Views: 8186

Re: The "dividend preference anomaly"

Another of my favorite dividend stocks is PAYX. Its last dividend was $.56/sh. The ex-dividend date for that payment was 1/31. On 1/30 the first trade for PAYX was at $70/sh, the highest trade was at $71.17 and the final trade was at $71.14. The next day (1/31 -- ex day) the first trade was at $70....
by TropikThunder
Sat Apr 06, 2019 12:05 am
Forum: Personal Finance (Not Investing)
Topic: Best friend in sticky situation with Medicare Part B.
Replies: 7
Views: 1252

Re: Best friend in sticky situation with Medicare Part B.

Re: COBRA coverage as a fix for this situation: https://nahucomplianceblog.wordpress.com/2018/02/21/medicare-and-cobra-can-cause-confusion/ You'll note I did point out that COBRA is not considered creditable coverage “based on current employment” but there's no issue with using it to bridge the 8 m...
by TropikThunder
Fri Apr 05, 2019 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with some tax math
Replies: 17
Views: 841

Re: Need help with some tax math

From Notice 1036, I calculate that if you are single, have 6 exemptions, bi-weekly taxable income of $4221, then your fed tax should be about $524 and are having tax withheld near the top of the 22% tax bracket. If you changed your 457 to Roth, most would be withheld at 24%. I was trying to do the ...
by TropikThunder
Thu Apr 04, 2019 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Best friend in sticky situation with Medicare Part B.
Replies: 7
Views: 1252

Re: Best friend in sticky situation with Medicare Part B.

Sounds like this has only been four days, and he is hospitalized. Surely, there is a way to deal with this considering the circumstances. If necessary, would it be possible for him to purchase COBRA insurance from his employer starting April 1 to ensure no gap in coverage? Tim +1. Regardless of whe...
by TropikThunder
Mon Apr 01, 2019 1:59 pm
Forum: Personal Consumer Issues
Topic: Wood vs Laminate Flooring
Replies: 56
Views: 4110

Re: Wood vs Laminate Flooring

rage_phish wrote:
Mon Apr 01, 2019 1:44 pm
have you considered premium luxury vinyl?
It’s in the jumbo shrimp section. :wink:
by TropikThunder
Mon Apr 01, 2019 1:55 pm
Forum: Personal Investments
Topic: How are dividends computed in Vanguard funds when holding for less than a month?
Replies: 7
Views: 439

Re: How are dividends computed in Vanguard funds when holding for less than a month?

You get the full dividend if you are a shareholder on the ex-date which for that fund would have been 2/28 and 3/29. This is opposite of what throwitaway is saying... Throwitaway is correct. TaxingAccount would be correct if you had asked about an equity fund, but you asked about a bond fund. They ...
by TropikThunder
Mon Apr 01, 2019 11:34 am
Forum: Personal Investments
Topic: Invest in cryptocurrency?
Replies: 19
Views: 1437

Re: Invest in cryptocurrency?

You would probably make more money investing in cryptosporidium than in cryptocurrency. PS: there are probably dozens of “up and coming” new cryptocurencies out there, what distinguishes the BAT wheat from the other’s chaff? PPS: it’s not newbie-bashing if there are already dozens of con-crypto thre...
by TropikThunder
Mon Apr 01, 2019 11:25 am
Forum: Personal Investments
Topic: Can I do a backdoor Roth for 2018?
Replies: 4
Views: 270

Re: Can I do a backdoor Roth for 2018?

Thanks so much for the thorough response, retiredjg. You clarified the part that was fuzzy for me - that I can’t have a traditional IRA balance at the time of *conversion* which I understand is different from the IRA contribution. I’ve made backdoor Roth contributions in previous years so I’ve been...
by TropikThunder
Mon Apr 01, 2019 11:20 am
Forum: Personal Consumer Issues
Topic: Wood vs Laminate Flooring
Replies: 56
Views: 4110

Re: Wood vs Laminate Flooring

This is a good summary I think of the relative pros and cons: https://www.thespruce.com/laminate-vs-hardwood-flooring-how-they-compare-1821870 It’s not the 80’s anymore, and laminate flooring isn’t as cheap and troublesome as some may remember. But that just means the gap has closed in quality. Hard...
by TropikThunder
Sat Mar 30, 2019 9:10 pm
Forum: Personal Investments
Topic: Help Pulling the Trigger on Payoff
Replies: 5
Views: 744

Re: Help Pulling the Trigger on Payoff

mortfree wrote:
Sat Mar 30, 2019 7:58 pm
20k now.

Pay off with the $4500/month until it is gone.

That keeps you liquid and preserves cash savings.
+1. Best option in my opinion. Nothing in your monthly budget will change, EF stays the same, but you will now be down to three payments. Windfall in, windfall out.
by TropikThunder
Sat Mar 30, 2019 9:06 pm
Forum: Personal Investments
Topic: Recent Boglehead Looking for Advice on 2018 Roth IRA Contribution
Replies: 4
Views: 410

Re: Recent Boglehead Looking for Advice on 2018 Roth IRA Contribution

Hey Bogleheads, I am looking for some "what would you do" answers here. In 2018, I read as much as I could about the Boglehead philosophy and started to make financial changes to fit my new learnings. My goal was to up my emergency fund and begin contributing to a Roth IRA. Fast forward to now havi...
by TropikThunder
Sat Mar 30, 2019 6:14 pm
Forum: Personal Investments
Topic: Observations from this year's Tax filing, and some questions
Replies: 18
Views: 1538

Re: Observations from this year's Tax filing, and some questions

3) Another question, about medical expense deductions. I had roughly $3.5K medical expenses that I reported with all relevant receipts, and the tax specialist said that we will enter it in the system, but given your AGI (around 300K), most likely it won’t change your tax return. I didn’t fully unde...
by TropikThunder
Sat Mar 30, 2019 1:10 pm
Forum: Investing - Theory, News & General
Topic: American Funds Europacific Growth Fund R6 has been drastically outperforming Vanguard Total International Index fund.
Replies: 24
Views: 1913

Re: American Funds Europacific Growth Fund R6 has been drastically outperforming Vanguard Total International Index fund

Let's do a quick thought experiment. Vanguard Total International Stock outperforms American Europac Growth since inception by almost 3% CAGR per year. OP comes on to BH and asks: "Has anyone else noticed this? Perhaps active funds are not always the best option when it comes to international stock...
by TropikThunder
Sat Mar 30, 2019 1:04 pm
Forum: Investing - Theory, News & General
Topic: Deferring HSA by paying medical Out-of-Pocket: Overblown?
Replies: 42
Views: 3572

Re: Deferring HSA by paying medical Out-of-Pocket: Overblown?

I spoke with the rep from GEHA's plan today and she said that I only have until December 31st of the following year to submit receipts for reimbursement. Can anyone confirm or discredit that? I'm not sure that she was entirely sure since "no one ever asks about that plan." If it’s an HSA and not an...
by TropikThunder
Fri Mar 29, 2019 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-market commission on house sale
Replies: 6
Views: 626

Re: Pre-market commission on house sale

The seller typically pays the commission. The buyer agent and seller agent split the commission. If both sides are present and different entities. The Estate would pay the commission. Thank you. So agent is entitled to commission even if no contract has been signed? My understanding is that the exe...
by TropikThunder
Fri Mar 29, 2019 6:21 pm
Forum: Personal Investments
Topic: Vanguard Target Retirement Fund Expense Ratio
Replies: 6
Views: 781

Re: Vanguard Target Retirement Fund Expense Ratio

Note, though, that once you have a mere $3k, a portfolio of the Admiral shares versions of the funds underlying the Target Date funds has about half the expense ratio (0.15% to 0.7%, using VFORX/2040 as the example). You would need about $65,000 to do Admiral Shares of each underlying fund in VFORX...
by TropikThunder
Thu Mar 28, 2019 12:37 am
Forum: Personal Investments
Topic: Quick opinion
Replies: 15
Views: 1381

Re: Quick opinion

I am in a situation where I currently have 19,000 in a traditional IRA at Putman. It has not done well for the last 19 years It is in the growth opportunities fund class A. I am thinking the lifestrategy approach. What’s your thought on fidelity or vanguard I would start by evaluating what you mean...
by TropikThunder
Wed Mar 27, 2019 6:45 pm
Forum: Personal Investments
Topic: The IRA Lightbulb just went on
Replies: 28
Views: 3856

Re: The IRA Lightbulb just went on

+1 to those saying we need to know what OP is invested in. I suspect the tax hit is not due to assets "growing too fast" but rather to excessive capital gains (like from high turnover in active funds). VTSAX's total distribution last year was 1.88% (all dividends, no capital gains). If I had investe...
by TropikThunder
Wed Mar 27, 2019 1:05 pm
Forum: Personal Investments
Topic: How can I tell if I'm eligible to contribute to an HSA?
Replies: 8
Views: 607

Re: How can I tell if I'm eligible to contribute to an HSA?

gilgamesh wrote:
Wed Mar 27, 2019 6:40 am
PPO’s can definitely be HSA plans...I’ve had them for years. The healthcare market place clearly said they are PPO and that it is HSA eleigible.
You’re correct, I was thinking of co-pays before the deductible, not whether it was a PPO.
by TropikThunder
Wed Mar 27, 2019 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Should I amend my tax return? (forgot about ROTH IRA contribution)
Replies: 6
Views: 835

Re: Should I amend my tax return? (forgot about ROTH IRA contribution)

I agree it’s not necessary either way, but technically, it would be a superseding return and not an amended return since the filing deadline hasn’t passed yet, right?
by TropikThunder
Wed Mar 27, 2019 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Are family vacations considered a reportable gift?
Replies: 33
Views: 3665

Re: Are family vacations considered a reportable gift?

This really gets to be a gray area. What if a father pays for a daughter's wedding? According to the internet, it depends on whether they pay the vendors directly (fulfilling a perceived cultural obligation) or handed over the money. Which takes us back to the car: in some neighborhoods there is a ...
by TropikThunder
Wed Mar 27, 2019 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Are family vacations considered a reportable gift?
Replies: 33
Views: 3665

Re: Are family vacations considered a reportable gift?

According to the internet, it depends on whether they pay the vendors directly (fulfilling a perceived cultural obligation) or handed over the money. Which takes us back to the car: in some neighborhoods there is a perceived cultural obligation to get your kid a car... According to the IRS, the onl...
by TropikThunder
Tue Mar 26, 2019 10:04 pm
Forum: Personal Investments
Topic: What Are We Doing With This 1099-R?
Replies: 6
Views: 658

Re: What Are We Doing With This 1099-R?

That all seems correct, the timeline and that nothing is/was taxed/taxable. My gut is saying this is a "do-nothing" situation (if that's what you mean by already followed the IRS instructions but wasn't aware - would you be able to expand on that statement?). Right. As long as her 2017 tax return i...
by TropikThunder
Tue Mar 26, 2019 8:38 pm
Forum: Personal Investments
Topic: How can I tell if I'm eligible to contribute to an HSA?
Replies: 8
Views: 607

Re: How can I tell if I'm eligible to contribute to an HSA?

Thanks! I think that was the piece I was missing. Mine does have coinsurance. That's too bad, was hoping to contribute to an HSA, but I guess having the coverage is good too if I ever need it. Strange that that's not spelled out in the IRS document on the matter which I read: https://www.irs.gov/pu...
by TropikThunder
Tue Mar 26, 2019 8:22 pm
Forum: Personal Investments
Topic: How can I tell if I'm eligible to contribute to an HSA?
Replies: 8
Views: 607

Re: How can I tell if I'm eligible to contribute to an HSA?

I can't tell if my plan is qualified to contribute to an HSA or not. It is from Premera, called "Heritage Plus 1", provided by my employer. The individual deductible is $2000 and the out of pocket maximum is $6250, which seems to fit within the IRS guidelines for being eligible to contribute to an ...
by TropikThunder
Tue Mar 26, 2019 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Can future tax laws change such that Roth IRA earnings are taxed in retirement?
Replies: 3
Views: 709

Re: Can future tax laws change such that Roth IRA earnings are taxed in retirement?

warowits wrote:
Tue Mar 26, 2019 7:54 pm
Yes. There would be a legal action immediately after. This is the sort of speculation I am guessing we are not supposed to engage in on this forum.
Yeah there's no way to plan for future unknown tax law changes, and it is never a productive conversation. This will be locked.
by TropikThunder
Tue Mar 26, 2019 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Q: Family Responsibility for Deceased Brother Auto Accident Prior to Death
Replies: 57
Views: 4414

Re: Q: Family Responsibility for Deceased Brother Auto Accident Prior to Death

Wow, had not even considered issue of secondary-level liability if the injured doesn't pay their bills. This sort of blows away some of the comments above that said I did nothing wrong and no harm will come to me. I think you’re misinterpreting the “second-level liability” comments. As you know, th...
by TropikThunder
Mon Mar 25, 2019 1:15 pm
Forum: Personal Investments
Topic: HSA Investment Options
Replies: 15
Views: 808

Re: HSA Investment Options

Hello - I sincerely hope you are right about no fees being charged but that is very surprising because Health Equity typically does charge fees for investing. Maybe your employer is picking these up on behalf of the employees which companies sometimes do. In terms of your investment choice, if you ...