Search found 141 matches

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: 1236

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: 1060

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: 1216

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: 1216

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: Retirement Plan Checkup / Inherited IRAs
Replies: 7
Views: 889

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: 3800

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: Retirement Plan Checkup / Inherited IRAs
Replies: 7
Views: 889

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: Retirement Plan Checkup / Inherited IRAs
Replies: 7
Views: 889

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: 647

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: 2028

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: 2028

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: 890

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: 5797

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: 5797

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: 5797

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: 5797

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: 974

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: 1707

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: 3835

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: 1569

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: 687

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: 914

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: 1963

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: 14293

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: 891

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.
by SuzBanyan
Sun Jan 07, 2018 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement and a different angle on paying off the mortgage...
Replies: 8
Views: 2115

Re: Early retirement and a different angle on paying off the mortgage...

A couple of thoughts. Have you looked at delaying SS until later? Given your current ages, you probably are not even at full retirement age at 65. For a couple, it will often make sense for the person with the highest SS to delay until 70. Is your pension reduced if one of you dies? Your mortgage in...
by SuzBanyan
Thu Jan 04, 2018 3:24 pm
Forum: Investing - Help with Personal Investments
Topic: Can no longer invest in Vanguard admiral funds in Chase account. Suggestions?
Replies: 48
Views: 4105

Re: Can no longer invest in Vanguard admiral funds in Chase account. Suggestions?

chase said nothing to me about not being able to buy an admiral fund earlier this week. but i didn’t actually buy it, just indicated i planned to soon. i can't see this has anything to do with dol. i’ll probably buy the etf. I moved a large position in a non-retirement account invested in a Vanguar...
by SuzBanyan
Thu Dec 28, 2017 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: [Pass-Thru Entities Questions Thread]
Replies: 141
Views: 10665

Re: [Pass-Thru Entities Questions Thread]

I am not clear on this either. Since Engineering and Architecture are excluded from the specified professions (not sure I said that right), does this mean that the income thresholds do not apply to these businesses? If that's not what it means (being excluded), what does it mean? I hope that the in...
by SuzBanyan
Tue Dec 26, 2017 10:41 am
Forum: Investing - Theory, News & General
Topic: Implications of tax bill on residential real estate (house prices)
Replies: 62
Views: 6165

Re: Implications of tax bill on residential real estate (house prices)

I would think vacation homes will be impacted the most. If I understand correctly, primary residence plus vacation home mortgage combined is limited to $750k and no deductions for HELOC. I think it will take a while for people to appreciate exactly how HELOC is defined: any loan not use to acquire ...
by SuzBanyan
Sat Dec 23, 2017 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: [Pass-Thru Entities Questions Thread]
Replies: 141
Views: 10665

Re: Question about pass through income in new tax law

—snip— Regardless of your business field, you do not get the deduction if you are a sole prop at income levels above $207k/$415k. If you are over those income levels, you will need to have W-2 wages to qualify for the deduction - and you do not get the deduction at all in you are in one of the prof...
by SuzBanyan
Fri Dec 22, 2017 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 55726

Re: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]

Page 33 of the new law has the effective date in (b). When Thuronyi wrote his blog, the conference bill had a bad date. That date was corrected in the final version passed by both houses. The language now states that for tax years after 2016 you cannot pay 2018 state and local income taxes and take ...
by SuzBanyan
Fri Dec 22, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 55726

Re: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]

When Thuronyi wrote his blog, the conference bill had a bad date. That date was corrected in the final version passed by both houses. The language now states that for tax years after 2016 you cannot pay 2018 state and local income taxes and take the deduction in 2017. Thus, it is specifically prohib...
by SuzBanyan
Mon Dec 18, 2017 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Clever use of a "C" Corporation
Replies: 23
Views: 3424

Re: Clever use of a "C" Corporation

Here is the update: https://papers.ssrn.com/sol3/papers.cfm ... id=3084187

There is a footnote to a blog in the update that may also be of interest to some: https://medium.com/@vthuronyi/a-mistake ... 6f55865e04
by SuzBanyan
Sun Dec 17, 2017 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Clever use of a "C" Corporation
Replies: 23
Views: 3424

Re: Clever use of a "C" Corporation

According to Daniel Shaviro, one of the authors of that paper, an updated paper should be published in the next day or 2: http://danshaviro.blogspot.com. The current article is linked in his blog.
by SuzBanyan
Mon Oct 30, 2017 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Help with 2018 HSA contribution limit (child turns 26 in December 2018)
Replies: 8
Views: 805

Re: Help with 2018 HSA contribution limit (child turns 26 in December 2018)

HDHP/HSA eligible insurance will cover your daughter to the end of the month in which she turns 26, which for her is to the end of December. Thus, you can contribute the full family plan amount for 2018 to your HSA. However, even though your daughter is on your insurance plan, you cannot reimburse h...
by SuzBanyan
Thu Sep 21, 2017 8:37 am
Forum: Personal Consumer Issues
Topic: What's a good big e-reader?
Replies: 10
Views: 1071

Re: What's a good big e-reader?

In my opinion, my Kindle Paperwhite is too small for reading .pdf documents. My favorite is the standard size iPad. I read with it flat on the desk or my lap. With the IPad Pro, I can annotate with the Apple Pencil. I rarely read documents on my computer after I got the iPad Pro. For books, I love m...
by SuzBanyan
Mon Jul 24, 2017 9:03 am
Forum: Personal Finance (Not Investing)
Topic: MAGI and Medicare
Replies: 29
Views: 2658

Re: MAGI and Medicare

Appreciate the insight on appeals. In my case I retired 2 years ago, but then from June 2016 thru March of this year worked as a full time consultant, making 2-3 times my previous salary. I think my working days are now over, and my appeal will be based on no longer working. My husband is on Medica...
by SuzBanyan
Mon Jul 17, 2017 11:21 am
Forum: Investing - Help with Personal Investments
Topic: Can my wife and I afford to retire in one year with our portfolio, pension, social security
Replies: 41
Views: 4562

Re: Can my wife and I afford to retire in one year with our portfolio, pension, social security

• Health care: 2.5 years retirement health care funded by employer; able to buy into employers group health plan at 100% cost soccerfan25, Is it possible to find out the 100% cost for this year? At my current employer, this number is listed in my pay check (employee and employer portion). The bigge...
by SuzBanyan
Tue Jun 27, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Financing Engagement Ring/ Credit Score Potential Consequences
Replies: 39
Views: 3209

Re: Financing Engagement Ring/ Credit Score Potential Consequences

What about your soon-to-be spouse? Can she contribute financial resources to the ring she will be wearing?
by SuzBanyan
Mon May 22, 2017 1:36 pm
Forum: Personal Consumer Issues
Topic: Well-made quality handbags
Replies: 32
Views: 4202

Re: Well-made quality handbags

Had to laugh at this thread, as I have a huge problem emotionally discarding anything that has useful life left...from appliances to handbags and clothing. I've owned a Stone Mountain bag (from Stone Mountain GA, a tiny town made famous by Kenny on 30 Rock for anyone who watched that show!) for clo...
by SuzBanyan
Tue Feb 21, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: When To Enroll in ACA (Obamacare)
Replies: 6
Views: 779

Re: When To Enroll in ACA (Obamacare)

There is a proposed rule that was published for comment last week which, if finalized, would make some changes in the special enrollment periods for the ACA. https://s3.amazonaws.com/public-inspection.federalregister.gov/2017-03027.pdf You may want to follow this proposed rule in case it results in ...
by SuzBanyan
Mon Jan 23, 2017 11:41 am
Forum: Personal Finance (Not Investing)
Topic: No health insurance tax penalty
Replies: 69
Views: 6955

Re: No health insurance tax penalty

That's not right. It is added to total tax liability on line 61 of the 1040. While this is technically true--it does go on the form--it's only a liability if you actually have to pay it. And you don't. See here: https://www.healthcare.gov/fees/fee-for-not-being-covered/ What happens if I don't pay ...
by SuzBanyan
Mon Jan 23, 2017 10:26 am
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2017!
Replies: 311
Views: 47990

Re: Roll Call for the Retirement Class of 2017!

Was going to be in the Class of 17 but worked out a deal with the boss which allows me to work three days a week and keep the benefits. Best of both worlds. Full retirement postponed until further notice. Same for me. I plan to work enough hours this year to get health insurance coverage, then re-e...
by SuzBanyan
Fri Jan 13, 2017 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree health care premium before reaching medicare age
Replies: 17
Views: 1734

Re: Retiree health care premium before reaching medicare age

I would guess that the crystal ball for health insurance expenses after this year is probably as opaque as it will ever be. In addition, most people expect that even those with insurance will be paying a higher portion of their out of pocket health expenses over time. As a result, health costs in re...
by SuzBanyan
Sun Oct 30, 2016 9:47 am
Forum: Personal Finance (Not Investing)
Topic: 65 and 63 year old - retirement question (non-investment)
Replies: 21
Views: 3032

Re: 65 and 63 year old - retirement question (non-investment)

Can your parents pay more towards their mortgage before your Dad stops working? Their income starting in January is $100K and their expenses are $42K plus food. While refinancing to a lower rate may make sense, this is particularly true when it allows earlier repayment of the debt. If they do a non-...
by SuzBanyan
Wed Oct 26, 2016 8:54 am
Forum: Personal Consumer Issues
Topic: New couch? Please advise.
Replies: 28
Views: 3584

Re: New couch? Please advise.

From what I have read, furniture manufacturers were hit hard by the Great Recession. As a result, many brands downgraded their quality at that time, making comparisons with older products that much more difficult. Also, any furniture with movable parts will likely have a shorter life span. As a resu...
by SuzBanyan
Sun Oct 23, 2016 7:36 pm
Forum: Personal Consumer Issues
Topic: New couch? Please advise.
Replies: 28
Views: 3584

Re: New couch? Please advise.

Before we bought our leather sectional last year, I spent a lot of time on the myfurnitureforum.com. Duane Collie, who has a retail store in Virginia and is a dealer for Hancock & Moore, runs the forum. He provides lots of information on quality furniture. I admit that after learning more, we bought...
by SuzBanyan
Wed Oct 19, 2016 9:59 am
Forum: Investing - Help with Personal Investments
Topic: Close to Retirement - Now What?
Replies: 15
Views: 3848

Re: Close to Retirement - Now What?

I agree with the maxing out your retirement account strategies. This will help put you in a position where you can cash out a good portion of your taxable prior to age 59.5 without being subject to capital gains. Given the size of your 401K + IRA relative to your other assets, I think doing some Ro...
by SuzBanyan
Wed Oct 12, 2016 6:19 pm
Forum: Personal Consumer Issues
Topic: CareFirst BlueChoice HDHP federal govt not covering prenatal!
Replies: 10
Views: 1504

Re: CareFirst BlueChoice HDHP federal govt not covering prenatal!

Has the insurance company clearly communicated why it was denied? Are you really covered for "routine" prenatal or just "preventative" prenatal? There may, or may not, be a difference. You posted that the coding was correct, but do you know if a non-preventative code was added which might justify co...
by SuzBanyan
Tue Oct 11, 2016 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Archer MSA in CA
Replies: 0
Views: 830

Archer MSA in CA

A co-worker asked me about an account with HSA Bank that he has had since before 2002. Based on the date, I assume it is an Archer MSA account. No contributions have been made to the account since 2002, but he does have an HSA to which are current employer is making contributions since 2010. We are ...