Search found 166 matches

by SuzBanyan
Tue Sep 18, 2018 9:18 am
Forum: Investing - Help with Personal Investments
Topic: Thinking of Retiring at 52, Please Critique Plan
Replies: 38
Views: 4403

Re: Thinking of Retiring at 52, Please Critique Plan

OP: so sorry to hear about your husband’s diagnosis. I have a co-worker going through similar issues, although her husband is 20+ years older than yours, so this was not an early onset case. She really feels the lack of having a partner in this journey. In addition to dealing the the financial and l...
by SuzBanyan
Wed Aug 29, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: Ladies: bra shopping question
Replies: 62
Views: 8160

Re: Ladies: bra shopping question

What strikes me - mouses specifically posted she was not interested in underwire styles. So, the thread gets deluged with posts recommending brands known for focusing primarily on underwires :? :? I think all of the brands discussed offer some wireless styles, so I’m not sure I understand your poin...
by SuzBanyan
Tue Aug 28, 2018 9:33 pm
Forum: Investing - Theory, News & General
Topic: Most commonly misused/misunderstood investing terms and concepts (on BH forum)
Replies: 220
Views: 11069

Re: Most commonly misused/misunderstood investing terms and concepts (on BH forum)

The difference between a tax return and a tax refund. You want to file the former and deposit the latter.
by SuzBanyan
Mon Aug 27, 2018 4:39 pm
Forum: Personal Consumer Issues
Topic: Ladies: bra shopping question
Replies: 62
Views: 8160

Re: Ladies: bra shopping question

+1 on a good fitting at Nordstrom - they are the best. *Find the bra you like via Nordstrom and your size and stock up. *I have also had good results restocking from eBay; found my style and size, and can just search for the style # now. Still a little pricey, but the style I like never goes on sal...
by SuzBanyan
Mon Aug 27, 2018 9:19 am
Forum: Personal Finance (Not Investing)
Topic: SALT: IRS issues proposed regs for State Tax Credit for Donation
Replies: 62
Views: 6009

Re: SALT: IRS issues proposed regs for State Tax Credit for Donation

This is an interesting thread. Alabama has had a program in place for about 5 years, with a 100% state tax credit for up to one-half of state income taxes for charitable contributions to a "scholarship granting organization (SGO)". There are several SGOs set up in Alabama which provide scholarships...
by SuzBanyan
Sat Aug 25, 2018 6:45 pm
Forum: Personal Consumer Issues
Topic: Ladies: bra shopping question
Replies: 62
Views: 8160

Re: Ladies: bra shopping question

There is an amazing forum at reddit called A Bra That Fits that changed my bra buying habits forever. The beginner’s guide can be found here: https://www.reddit.com/r/ABraThatFits/wiki/beginners_guide. Not surprisingly, the beginners guide suggest starting with finding your actual size, which may ha...
by SuzBanyan
Sat Aug 25, 2018 1:41 pm
Forum: Personal Consumer Issues
Topic: Short Term Health Insurance regulation changes - good for age 62 retirement?
Replies: 82
Views: 4096

Re: Short Term Health Insurance regulation changes - good for age 62 retirement?

and if you are buying an out-of-state policy, then I think you get to dispute any problems in the insurer's state's insurance and legal system. Struggling with payment/reimbursement problems is bad enough, but doing it when you are ill is terrible. Can you even buy an out-of-State policy? According...
by SuzBanyan
Sat Aug 25, 2018 9:22 am
Forum: Personal Finance (Not Investing)
Topic: SALT: IRS issues proposed regs for State Tax Credit for Donation
Replies: 62
Views: 6009

Re: SALT: IRS issues proposed regs for State Tax Credit for Donation

Please remember that this is a proposal, not a final regulation. The underlying issues are political and there may well be legal challenges to whatever final regulation is issued. We are a long way from resolution. There is plenty of time this year to let the dust settle. Even if your state finds a...
by SuzBanyan
Fri Aug 24, 2018 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: SALT: IRS issues proposed regs for State Tax Credit for Donation
Replies: 62
Views: 6009

Re: SALT: IRS issues proposed regs for State Tax Credit for Donation

In the explanation accompanying the proposed regulation, the issue of existing state tax credit programs for educational scholarship was directly addressed and additional guidance requested as part of the public comments. However, in general, there did not appear to be a high level of concern as the...
by SuzBanyan
Thu Aug 23, 2018 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: SALT: IRS issues proposed regs for State Tax Credit for Donation
Replies: 62
Views: 6009

SALT: IRS issues proposed regs for State Tax Credit for Donation

Treasury issued proposed regulations today that provide that the federal deduction for a charitable contribution must be reduced by the amount of any state/ local tax credit receieved for such contribution, but need not be reduced by the amount of any state/local tax deduction received for such cont...
by SuzBanyan
Sat Aug 18, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 105
Views: 13553

Re: Teachers Who Have Net Worth of $1 million +

My parents have a net-worth in excess of $1M. My Dad taught high school, then became a district wide administrator. My Mom taught — at various times - kindergarten, Head Start pre-school, adult school (parent participation pre-school) and junior college. My Dad also worked a second job for 20 years ...
by SuzBanyan
Thu Aug 02, 2018 9:32 am
Forum: Investing - Help with Personal Investments
Topic: Social Security + term life
Replies: 41
Views: 2047

Re: Social Security + term life

I don’t see the value of life insurance for this couple. The cost — $4300 for 20 years — is almost 10% of the $45k they plan to spend each year. They would be better off not spending that amount and allowing their nest egg to grow. Here’s one suggestion: K takes SS at 62= $11k J takes SS at 70= $37K...
by SuzBanyan
Sun Jul 22, 2018 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Property tax + deductions
Replies: 25
Views: 3223

Re: Property tax + deductions

Politics and personal incentives aside, this is an easy question and should be a 9-0 decision if it actually gets to SCOTUS. States do not get to decide what is deductible under federal income taxes. To my knowledge, the only lawsuit filed to date challenges the constitutionality of any limitation ...
by SuzBanyan
Wed Jul 18, 2018 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: How Unclaimed Property Laws Can Affect Retirees
Replies: 36
Views: 3365

Re: How Unclaimed Property Laws Can Affect Retirees

If they are IRA's with zero activity, what about the taxes? Do they just withhold (at max tax rate?) and send the rest to the state ? And what about penalties for those "underage"? And what about money in 403b/etc., plans - money that cannot be removed per rules? RM This was stated in the article W...
by SuzBanyan
Sun Jul 15, 2018 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Where to get a $100 bill?
Replies: 49
Views: 5309

Re: Where to get a $100 bill?

My Chase bank ATM dispenses $100 bills.
by SuzBanyan
Fri Jul 13, 2018 6:06 pm
Forum: Investing - Help with Personal Investments
Topic: massive Roth conversion
Replies: 39
Views: 3323

Re: massive Roth conversion

Thanks to those posting that MAGI for Roth contribution limits is determined based on AGI minus income from tIRA conversions to Roth. I was not aware of this and now have one less threshold to balance when looking a Roth conversions; IRMAA and tax brackets are more than enough to bogle my mind. As a...
by SuzBanyan
Fri Jul 13, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life - We're doing it. What to look for?
Replies: 128
Views: 8136

Re: Whole Life - We're doing it. What to look for?

OP: Maybe I missed it, but are you also planning to convert Term to WL on you life for the benefit of your SO? The “peace of mind following the death of a loved one” argument seems to apply more to the least financially savvy spouse. You appear to be more financially savvy and thus, getting WL on yo...
by SuzBanyan
Wed Jun 27, 2018 8:54 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 156
Views: 17149

Re: IRS publishes draft 2018 1040 - Huge changes made

One new adjustment on page 2 of the 1040 is line 9 for “qualified business income deductions (see instructions)” which I assume is for the 20% small business deduction under Section 199A.
by SuzBanyan
Mon Jun 25, 2018 9:54 am
Forum: Personal Consumer Issues
Topic: Q on appealling Medicare surcharge
Replies: 6
Views: 838

Re: Q on appealling Medicare surcharge

OP: If you are applying in 2018, your 2016 MAGI will initially determine whether you will need to pay IRMAA. For this purpose, MAGI is based on line 37, plus tax-exempt interest in line 8b, of Form 1040. If 2017 MAGI would result in a lower (or no) IRMAA, or you expect 2018 MAGI will, then you can a...
by SuzBanyan
Fri Jun 22, 2018 10:08 am
Forum: Investing - Help with Personal Investments
Topic: Help a 'Three Funder' Allocate Inherited IRA
Replies: 10
Views: 1066

Re: Help a 'Three Funder' Allocate Inherited IRA

With RMDs immediately on the horizon, you want the Inherited IRA to grow as slowly as possible and push the growth likely from your AA to your 401(k)s. Thus, I suggest you put your entire bond allocation in the Inherited IRA. Then fill the balance in the Inherited IRA with your equity fund(s). This ...
by SuzBanyan
Thu Jun 14, 2018 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Timeshare ever worth it? Please share details
Replies: 123
Views: 11330

Re: Timeshare ever worth it? Please share details

We have owned points at WDW through Disney Vacation Club (DVC) for over 10 years and have also added points at the hotel at Disneyland. We like the easy walking access to the theme parks. We also use the points for an annual stay at the Aulani Resort on Oahu. We feel like we get a fair economic valu...
by SuzBanyan
Thu May 31, 2018 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Writing Checks on a Schwab IRA
Replies: 22
Views: 1320

Re: Writing Checks on a Schwab IRA

I also received the email today (just turned 59.5). Not that it is an option before 70.5, but it wasn’t clear to me that this Checkwriting could be used for QCDs. The language referenced writing checks for “donations to charities. And if you are over 70.5, it is also a great way for you to take your...
by SuzBanyan
Tue May 29, 2018 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Selling car in CA, titled in absent owner's name
Replies: 14
Views: 842

Re: Selling car in CA, titled in absent owner's name

pshonore wrote:
Tue May 29, 2018 7:39 am
I'd call a local CARMAX in NJ and ask them. I'd then verify that with a CARMAX near San Luis Obispo.
OP: The closest CarMax to San Luis Obispo is a couple of hours’ drive away. If you have family here, they may be able to suggest an alternative other than a private sale.
by SuzBanyan
Sun May 27, 2018 10:03 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review for a DIY'er approaching retirement
Replies: 16
Views: 2348

Re: Portfolio Review for a DIY'er approaching retirement

togb: 1. Because you have an inherited IRA from which you are currently taking RMDs, I would fill this account with a bond index fund. This will minimize the growth in an account which will be spinning off taxable income and allow you to place equities -- which are expected to have higher returns --...
by SuzBanyan
Wed May 23, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Buying a Vacation Rental Property as an Investment
Replies: 53
Views: 4899

Re: Buying a Vacation Rental Property as an Investment

My husband and I have owned vacation rental property in Maui for many years: one unit for 16 years and another for 11 after a 1031 exchange from commercial property we owned. After we paid off the mortgages with cash from a windfall I received, we are cash flow positive, even after paying a high man...
by SuzBanyan
Fri May 11, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Please Advise on My/My Spouse’s Social Security Claiming Strategy
Replies: 10
Views: 1383

Re: Please Advise on My/My Spouse’s Social Security Claiming Strategy

OP: To me, it looks like you are so focused on the HSA tree that you are ignoring the forest that is your total healthcare costs. While a high-deductible plan may be a more cost-effective choice for you and your spouse than Medicare with a supplemental and drug plan, this is by no means the only pos...
by SuzBanyan
Wed May 09, 2018 11:43 am
Forum: Personal Finance (Not Investing)
Topic: How to pass life insurance proceeds from my parents' second to die policy on to my children tax free?
Replies: 17
Views: 1250

Re: How to pass life insurance proceeds from my parents' second to die policy on to my children tax free?

OP: Are you sure that your share on the life insurance policy is 5/12ths, not 1/5th? Usually, 5 surviving siblings would each receive an equal share of a life insurance policy, but of course, it depends on the way the beneficiaries are actually named.
by SuzBanyan
Sun May 06, 2018 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Help with post retirement IRA portfolio
Replies: 14
Views: 1369

Re: Help with post retirement IRA portfolio

OK - so, in taxable accounts, the rationale for NOT reinvesting dividends in the same MF is twofold ... first, to start moving to a smaller number of MF holdings (given they are duplicative in purpose and holdings), and second, to find lower expense funds. I'm assuming this rationale is NOT the sam...
by SuzBanyan
Thu May 03, 2018 6:23 pm
Forum: Investing - Help with Personal Investments
Topic: Help with post retirement IRA portfolio
Replies: 14
Views: 1369

Re: Help with post retirement IRA portfolio

My taxable accounts are kinda set in stone a bit - pretty big hit if I were to reallocate too much. Will draw them down first over the next few years.... (snip) I can understand your hesitancy about making any changes in your taxable account which might trigger gains. However, we still don’t know h...
by SuzBanyan
Wed May 02, 2018 8:12 pm
Forum: Investing - Help with Personal Investments
Topic: Consolidate to Vanguard/Fidelity - Need Help Deciding
Replies: 8
Views: 1213

Re: Retirement Plan Checkup / Inherited IRAs

The wiki here is very comprehensive: https://www.bogleheads.org/wiki/Target_date_funds I would expect that you can continue to have nothing except Target funds until you reach the point that you have filled all your tax-defferred accounts each year and want to start saving in taxable accounts. Then ...
by SuzBanyan
Wed May 02, 2018 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Continuing Care facility - shielding some assets for the kids
Replies: 37
Views: 4127

Re: Continuing Care facility - shielding some assets for the kids

If you think you have enough assets to qualify for CCRC without using the money you plan to gift, you could make the gifts now and disclose them as part of the CCRC financial disclosure. If you don’t want your kids to have unlimited access to the funds now, you could set up an irrevocable trust with...
by SuzBanyan
Wed May 02, 2018 1:26 pm
Forum: Investing - Help with Personal Investments
Topic: Consolidate to Vanguard/Fidelity - Need Help Deciding
Replies: 8
Views: 1213

Re: Retirement Plan Checkup / Inherited IRAs

My husband has an Inherited IRA and it holds nothing but Total Bond Market Index. He has had the Inherited IRA for almost 20 years. In the early years it was invested only in equities as the RMDs were small enough that even a 100% increase in the asset value would have little impact on our tax liabi...
by SuzBanyan
Wed May 02, 2018 11:53 am
Forum: Investing - Help with Personal Investments
Topic: Consolidate to Vanguard/Fidelity - Need Help Deciding
Replies: 8
Views: 1213

Re: Retirement Plan Checkup / Inherited IRAs

Please help me with my overall retirement plan. Emergency funds: 6 months of expenses Debt: $0.00 Tax Filing Status: MFJ w/ 2 Dep Tax Rate: 22% Federal, 5% State State of Residence: AL Age:45-50 Desired Asset allocation: 70%-75% stocks / 25%-30% bonds Desired International allocation: 30-40% of sto...
by SuzBanyan
Sun Apr 29, 2018 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Elimination of unreimbursed employee expenses means no need to keep receipts?
Replies: 4
Views: 710

Re: Elimination of unreimbursed employee expenses means no need to keep receipts?

It is also possible unreimbursed business expenses may be deductible on state tax returns.
by SuzBanyan
Sat Apr 14, 2018 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: NJ passes law in response to SALT limits
Replies: 9
Views: 2141

Re: NJ passes law in response to SALT limits

Hmmm, I'm not sure if it's not worth it to try it if you get a more favorable result. Afterall if it fails in court, you just owe what you would have owed plus interest. Even before the 2017 tax law, many states had tax laws that allowed state tax credits for taking charitable contributions. Since ...
by SuzBanyan
Fri Apr 13, 2018 8:31 am
Forum: Personal Finance (Not Investing)
Topic: NJ passes law in response to SALT limits
Replies: 9
Views: 2141

NJ passes law in response to SALT limits

For those who reside in NJ, you may want to follow how your local government agencies respond to a new law passed 4/12/18. The law “authorizes municipality, county or school district to establish charitable funds for specific purposes; permits property tax credit for certain donations.” The text is ...
by SuzBanyan
Thu Apr 05, 2018 11:15 am
Forum: Investing - Theory, News & General
Topic: New Tax Law- Out of State 529 Plans
Replies: 11
Views: 1025

Re: New Tax Law- Out of State 529 Plans

The New York State Department of Taxation and Finance issued a Preliminary Report to the Governor on H.R.1, indicating that K-12 distributions may not be considered qualified distributions under New York statutes and may require recapture of any New York State tax benefits that accrued on contribut...
by SuzBanyan
Wed Apr 04, 2018 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: NY passes law to get around SALT limit
Replies: 47
Views: 6373

Re: NY passes law to get around SALT limit

It's interesting to see states pass various measures. Connecticut passed a measure that would tax pass through income and offset personal income tax liability with a credit. http://www.taxanalysts.org/content/connecticut-finds-salt-workaround-would-actually-work I wonder what CA will eventually do....
by SuzBanyan
Wed Apr 04, 2018 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: NY passes law to get around SALT limit
Replies: 47
Views: 6373

Re: NY passes law to get around SALT limit

I believe this topic must be acceptable because, as OP references, it is already enacted legislation. Whether it's a good or bad idea might descend into a political discussion. PJW It also seems actionable for those in NY. Businesses will have to decide whether to opt in to the new payroll tax and ...
by SuzBanyan
Wed Apr 04, 2018 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: NY passes law to get around SALT limit
Replies: 47
Views: 6373

Re: NY passes law to get around SALT limit

Dan Shapiro, a tax professor at NYU, argues that the increase in payroll tax in exchange for an employee tax credit and the charitable contribution in exchange for the same is consistent with the underlying principals on the 2017 Tax law: “But this [payroll tax] provision, like that pertaining to th...
by SuzBanyan
Wed Apr 04, 2018 11:53 am
Forum: Personal Finance (Not Investing)
Topic: NY passes law to get around SALT limit
Replies: 47
Views: 6373

Re: NY passes law to get around SALT limit

For those in NY intrigued by the new law passed as part of the recent state budget, an analysis of deductibility was published in January, 2018, by a number of tax policy experts, entitled, “Federal income Tax Treatment of Charitable Contibutions Entitling Donors to State Tax Credits.” It can be rea...
by SuzBanyan
Thu Mar 08, 2018 9:48 am
Forum: Personal Finance (Not Investing)
Topic: When does the 1-year HSA rollover clock start and end?
Replies: 12
Views: 1100

Re: When does the 1-year HSA rollover clock start and end?

Can I ask how indirect rollovers are reported on 1099s? I have been doing an annual indirect rollover for years to avoid a $25 trustee to trustee transfer fee, but the transferee just reports the amount as a distribution on the 1099. Should I be doing something other than keeping a copy of the check...
by SuzBanyan
Wed Mar 07, 2018 12:25 pm
Forum: Investing - Theory, News & General
Topic: Medicare IRMAA
Replies: 19
Views: 1912

Re: Medicare IRMAA

It may also be possible to create a “life-changing event” for the year in which you would otherwise have to pay IRMAA: 2022: Redeem Savings Bonds and increase MAGI by interest earned. 2023: Get a job that doesn’t pay so much that it pushes you into IRMAA. 2024: Quit your new job and use this “life-c...
by SuzBanyan
Mon Feb 26, 2018 12:07 pm
Forum: Investing - Help with Personal Investments
Topic: 66 yr old Woman Needs HELP!
Replies: 68
Views: 4209

Re: 66 yr old Woman Needs HELP!

I agree with those who have said there is no need to rush. You said your health is poor and you only expect to live 20 years or less. Even if you never earn another penny in interest, dividends or gains, your accounts would give you almost $39K per year for 20 years. This is more than you currently ...
by SuzBanyan
Mon Feb 19, 2018 10:25 am
Forum: Personal Finance (Not Investing)
Topic: How to qualify wife for ACA subsidy in 2018
Replies: 18
Views: 1749

Re: How to qualify wife for ACA subsidy in 2018

Although lumping rental income into 2019 has been discussed, I would think that lumping expenses, such as property taxes into 2018, might be easier.
by SuzBanyan
Sat Feb 17, 2018 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Catastrophic medical insurance
Replies: 8
Views: 771

Re: Catastrophic medical insurance

JBTX wrote:
Sat Feb 17, 2018 8:38 pm
NotWhoYouThink wrote:
Sat Feb 17, 2018 6:41 pm
I thought ACA prohibited catastrophic plan for those over 30. We'd like one, too.
I'm going to guess that you can still get them but it would not have waived the ACA penalty, which was just repealed.
Note that the ACA penalty was not repealed until 2019.
by SuzBanyan
Mon Feb 05, 2018 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Home Office Tax Deduction
Replies: 14
Views: 1111

Re: Home Office Tax Deduction

I thought home office deductions, along with other unreimbursed employee business expenses, had been eliminated for 2018 and beyond by the recent tax bill. Is this not the case?
by SuzBanyan
Thu Jan 18, 2018 10:18 am
Forum: Personal Finance (Not Investing)
Topic: How will or might nonprofits be affected by tax law changes?
Replies: 36
Views: 2097

Re: How will or might nonprofits be affected by tax law changes?

Until we see what legislation the states pass in reaction to the Federal tax bill, it may be too early to speculate about long term effects on charitable giving. Personally, anticipating that we would not itemize in the future, we both doubled our 2017 donations and made a large donation (about 5 ye...
by SuzBanyan
Wed Jan 17, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Can We Retire in Hawaii? Please Critique
Replies: 146
Views: 15655

Re: Can We Retire in Hawaii? Please Critique

One thing you might want to do is to look at your numbers as if you are buying instead of building. This would give you firmer numbers to work with and give you a better idea of what is possible. I would be cautious about the plan on homeschooling your kids to make this work since being able to do ...
by SuzBanyan
Wed Jan 10, 2018 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Sell bonds, pre-pay mortgage instead?
Replies: 10
Views: 998

Re: Sell bonds, pre-pay mortgage instead?

For anyone for whom the choice in 2018 is a wash between the standard deductions and itemizing, it may make sense to understand how your state will react to the new federal tax law — if at all — before making changes to your finances.