Search found 56 matches
- Thu May 11, 2017 5:44 pm
- Forum: Personal Finance (Not Investing)
- Topic: Are bank test deposits taxable?
- Replies: 22
- Views: 3821
Re: Are bank test deposits taxable?
Is this thread a joke?
- Wed Mar 29, 2017 8:32 am
- Forum: Personal Finance (Not Investing)
- Topic: Mortgage Broker and Closing Costs
- Replies: 21
- Views: 3026
Re: Mortgage Broker and Closing Costs
Where are your transfer taxes?chendon wrote:I am closing on a loan in six weeks and here are the costs.
My breakdown is as follows:
http://imgur.com/OztjH0a
- Wed Mar 29, 2017 7:01 am
- Forum: Personal Finance (Not Investing)
- Topic: Mortgage Broker and Closing Costs
- Replies: 21
- Views: 3026
Re: Mortgage Broker and Closing Costs
I am skeptical about a loan origination fee, processing, underwriting, doc prep, and closing/escrow fees. Seems like they should all be for the same thing. Maybe the amounts go to different parties. Your broker should be able to tell you exactly where each fee is paid to and what it is for.
- Fri Mar 17, 2017 6:51 am
- Forum: Personal Investments
- Topic: Vanguard Change Minor Status on IRA
- Replies: 2
- Views: 386
Re: Vanguard Change Minor Status on IRA
Seems like Vanguard gave you instructions on what to do and you are ignoring it.
- Mon Feb 13, 2017 6:27 am
- Forum: Personal Finance (Not Investing)
- Topic: Need quick advice: Pay full year's rent or large security deposit?
- Replies: 47
- Views: 3929
Re: Need quick advice: Pay full year's rent or large security deposit?
Find a more affordable apartment with reasonable deposit requirements.
- Thu Feb 09, 2017 7:24 am
- Forum: Personal Investments
- Topic: TSP rollover help
- Replies: 8
- Views: 1783
Re: TSP rollover help
I sent the TSP form to Vanguard. Vanguard said they won't deal with the TSP form. I called TSP and they said they won't accept a Vanguard form. What the heck.
- Tue Feb 07, 2017 1:19 pm
- Forum: Personal Investments
- Topic: Child on the Way - What to do for College Financing?
- Replies: 116
- Views: 9439
Re: Child on the Way - What to do for College Financing?
That's the deduction limit. You are limited to the gift tax limit without any additional paperwork.aristotelian wrote: (we are only allowed $2,000 per beneficiary per year)
- Fri Feb 03, 2017 10:16 am
- Forum: Personal Finance (Not Investing)
- Topic: GF has long commute, should we buy a house to avoid long commute?
- Replies: 62
- Views: 7551
Re: GF has long commute, should we buy a house to avoid long commute?
I would not buy a house with someone who I'm not married to. Too many potential pitfalls. Especially since you do not see eye to eye on money issues.
- Thu Feb 02, 2017 2:09 pm
- Forum: Personal Finance (Not Investing)
- Topic: Contesting a will or trust
- Replies: 31
- Views: 2704
Re: Contesting a will or trust
So the large amount of money went to your kid?rec7 wrote:I am the brother. My brother was always crazy about the nieces and nephews kind of like the rest of the family was not alive at all.FelixTheCat wrote:I don't understand the OP's thread. OP are you getting the 2K and want to contest the trust? Are you setting up a trust to give unequal amounts to others?
- Wed Feb 01, 2017 1:26 pm
- Forum: Personal Finance (Not Investing)
- Topic: Spendthrift Daughter
- Replies: 44
- Views: 5790
Re: Spendthrift Daughter
Also remember you won't care about what happens to the money after you're dead.
- Wed Feb 01, 2017 9:21 am
- Forum: Personal Investments
- Topic: 529 strategy for second child, including possible future TLH?
- Replies: 5
- Views: 931
Re: 529 strategy for second child, including possible future TLH?
I would just figure out the annual amount you can afford to contribute and allocate between number of kids evenly.
- Tue Jan 31, 2017 12:41 pm
- Forum: Personal Finance (Not Investing)
- Topic: Search 1099's claimed against you?
- Replies: 17
- Views: 1819
Re: Search 1099's claimed against you?
You are reading too literally. I'm sure he means 1099s with your SSN attached to it.NotWhoYouThink wrote:You have 1099s filed against you? How does that work?
My 1099s just remind me of money I got. That feels like it is reporting of things done for me, not against me.
- Tue Jan 31, 2017 10:43 am
- Forum: Personal Finance (Not Investing)
- Topic: Search 1099's claimed against you?
- Replies: 17
- Views: 1819
Re: Search 1099's claimed against you?
Why not just wait until the end of February. What's the rush....?
- Tue Jan 31, 2017 10:35 am
- Forum: Personal Finance (Not Investing)
- Topic: Search 1099's claimed against you?
- Replies: 17
- Views: 1819
Re: Search 1099's claimed against you?
I doubt this exists. But it should, and for all informational forms, not just 1099s. However, you should know where you have accounts during the year and if you under-report income you'll probably get an IRS letter, so I assume if the IRS doesn't contact me I've reporting everything appropriately.
- Mon Jan 30, 2017 1:57 pm
- Forum: Personal Investments
- Topic: TSP rollover help
- Replies: 8
- Views: 1783
TSP rollover help
I am trying to roll over my traditional IRA at Vanguard to my TSP. I am aware I need to fill out the TSP-60 form, but section 2 requires Vanguard to fill some things out. Do I mail this to Vanguard? I am afraid it might get lost over there. Maybe someone here has gone through this process before. Thanks...
- Fri Jan 27, 2017 12:42 pm
- Forum: Personal Investments
- Topic: Kids Personal Savings - Other Vanguard funds?
- Replies: 19
- Views: 2959
Re: Kids Personal Savings - Other Vanguard funds?
Because then the childs SSN is not reported. A 1099B under their name for gains/losses won't be reported to IRS. It would be under your name at your tax rate, not the child's of 0%.aristotelian wrote:This feels like a dumb question, but why set it up as a UTMA? Why not just keep it in your name until you decide she is of age? Why not keep it on hand in case you need it to send her to private school or some other contingency?
- Fri Jan 27, 2017 11:50 am
- Forum: Personal Investments
- Topic: Kids Personal Savings - Other Vanguard funds?
- Replies: 19
- Views: 2959
Re: Kids Personal Savings - Other Vanguard funds?
Yes, a UTMA.
- Fri Jan 27, 2017 7:53 am
- Forum: Personal Finance (Not Investing)
- Topic: How much does a Trust cost these days?
- Replies: 22
- Views: 4630
Re: How much does a Trust cost these days?
No, these are alternative facts. OP said they had a simple situation. The responses turn everything complicated.LarryAllen wrote:This is always the best idea... to enrich a probate attorney one day. Common mistakes DIYers make:Eagle4Life wrote:You can make a simple trust by yourself. Buy a book or there are some software tools out there.
1) they mess up funding an amazingly high percentage of the time which creates a probate;
2) don't know how to name their beneficiaries;
3) don't do all the support documents;
4) distribute outright at 21 or 25 rather than holding in trust and giving their kids creditor protection;
5) have unnecessary a/b trust language in small estates;
the list goes on and on.
Great advice... for creating unnecessary probates one day.
#facts
- Thu Jan 26, 2017 9:58 am
- Forum: Personal Finance (Not Investing)
- Topic: How much does a Trust cost these days?
- Replies: 22
- Views: 4630
Re: How much does a Trust cost these days?
You can make a simple trust by yourself. Buy a book or there are some software tools out there.
- Wed Jan 25, 2017 6:17 pm
- Forum: Personal Finance (Not Investing)
- Topic: Vanguard automatic tax info downloads
- Replies: 14
- Views: 1675
Re: Vanguard automatic tax info downloads
I meant not simply going to vanguard site to answer initial question. I'm done with this thread.brokendirtdart wrote:I don't see how using an iPhone or iPad to file is being "lazy". I wouldn't prefer it, but if need be I would file on my iPad. The iPhone would work as well, but I wouldn't have the patience for maneuvering around their app or shrinking/enlarging the screen.
- Wed Jan 25, 2017 2:27 pm
- Forum: Personal Finance (Not Investing)
- Topic: Vanguard automatic tax info downloads
- Replies: 14
- Views: 1675
- Wed Jan 25, 2017 2:08 pm
- Forum: Personal Finance (Not Investing)
- Topic: Vanguard automatic tax info downloads
- Replies: 14
- Views: 1675
Re: Vanguard automatic tax info downloads
Let the OP take some initiative and do some of their own research. It's very clear at the vanguard homepage.jebmke wrote:Everything is usually there by early March as far as I can tell.Eagle4Life wrote:At the same time 1099 PDFs are available for download, probably. Check the Vanguard website.
- Wed Jan 25, 2017 2:04 pm
- Forum: Personal Finance (Not Investing)
- Topic: Vanguard automatic tax info downloads
- Replies: 14
- Views: 1675
Re: Vanguard automatic tax info downloads
At the same time 1099 PDFs are available for download, probably. Check the Vanguard website.
- Wed Jan 25, 2017 1:51 pm
- Forum: Personal Consumer Issues
- Topic: parking lot fender bender question
- Replies: 27
- Views: 3493
Re: parking lot fender bender question
Not your problem.jh4986 wrote:Does that mean, the lady whose car was scratched by my son, would also see premium increase only because her car was damaged?Jags4186 wrote:The person would sign it, presumably, because they don't want the damages to go through insurance causing their premiums to go up.Earl Lemongrab wrote:Why would that person sign it? Would you? They are the injured party.Jags4186 wrote:You should draft a letter that the other person signs that says by accepting $1200 in payment they are waiving their right to sue you for any further damages.
I wouldn't sign it and I would insist on going through insurance because I have had too many bad experiences not going through insurance.
- Tue Jan 24, 2017 6:45 am
- Forum: Personal Finance (Not Investing)
- Topic: Best way to leave a job and find a new one
- Replies: 24
- Views: 3342
Re: Best way to leave a job and find a new one
I would never tell my boss I was looking for a new job before I had something lined up, regardless of their personality.
- Fri Jan 20, 2017 8:33 am
- Forum: Personal Consumer Issues
- Topic: Laptop transfer
- Replies: 7
- Views: 1263
Re: Laptop transfer
I would reformat it to the factory settings.
- Fri Jan 20, 2017 7:50 am
- Forum: Personal Finance (Not Investing)
- Topic: FSA expense year cutoff question
- Replies: 1
- Views: 374
FSA expense year cutoff question
We had a procedure done in late December. EOB date of service is in December. Bill was paid in January. Can I take this expense from 2017 FSA funds?
- Thu Jan 19, 2017 6:40 am
- Forum: Personal Consumer Issues
- Topic: parking lot fender bender question
- Replies: 27
- Views: 3493
Re: parking lot fender bender question
I think you (parent) should back off. This is between the truck owners insurance and the other person's insurance. Stop holding your college-aged ADULT's hand and let him learn how to live life.
- Sun Jan 15, 2017 2:52 pm
- Forum: Personal Finance (Not Investing)
- Topic: is a 401k loan always terrible?
- Replies: 51
- Views: 7127
Re: is a 401k loan always terrible?
If you can't live off 700K, or even a quarter of that, and have the need to take any kind of loan, you are doing something wrong in life.
- Mon Jan 09, 2017 9:32 am
- Forum: Personal Investments
- Topic: Investing For Children
- Replies: 20
- Views: 3047
Re: Investing For Children
Or you could withdrawal the UTMA funds at your discretion, while "against" the law, the child won't know the difference if they don't know about the account.
- Tue Dec 27, 2016 12:30 pm
- Forum: Personal Finance (Not Investing)
- Topic: Do I have a claim against my 401k Plan Administrator?
- Replies: 17
- Views: 2183
Re: Do I have a claim against my 401k Plan Administrator?
I would look for the term "true-up" for matching in SPD and spread contributions evenly in 2017.
- Thu Dec 08, 2016 8:29 am
- Forum: Personal Investments
- Topic: Trade in IRA, hold in taxable?
- Replies: 9
- Views: 749
Re: Trade in IRA, hold in taxable?
Why are you buying and selling so frequently?
- Thu Dec 08, 2016 5:35 am
- Forum: Investing - Theory, News & General
- Topic: 401k contributions
- Replies: 5
- Views: 1091
Re: 401k contributions
Let the guy think what he wants. It's not your place to correct him, at least you know you're doing it right.Invest2016 wrote:Some guy at work is trying to tell me traditional 401k contributions for 2016 can be made until tax day in 2017. Then he thinks he is eligible to contribute another $18,500 between April 16 and December 31 for 2017.
Is this correct? I think he is nuts!
I might be eating crow tomorrow I guess.
- Thu Dec 08, 2016 5:32 am
- Forum: Investing - Theory, News & General
- Topic: Navy Federal CU New Certificate Offering
- Replies: 9
- Views: 3356
Re: Navy Federal CU New Certificate Offering
Also there's a $150 bonus for opening a new IRA and making 6 months of transfers of $50 each. I'm doing that for 6 months, collecting the bonus, and moving it to Vanguard.
- Wed Dec 07, 2016 1:06 pm
- Forum: Personal Investments
- Topic: Managing kids money
- Replies: 30
- Views: 3956
Re: Managing kids money
I guess I would just have grandparents set-up the account however they want,as taxes should not have to be an issue for quite a while (dividends over $1000 are taxable for child). Hopefully over the years the trust issue improves. The 529 plan sounds like a good idea. What is important is that the grandparents want to help. True taxes won't impact anything with 1K but we would still need to be able to track it. I try to manage our taxes and come as close to zero refund as possible and need to have insight into any accounts that would impact our tax return. Most important is your child. Second is your family relationships. Taxes should be way down the list of importance as there should never be a tax liability with the small amount of passi...
- Wed Dec 07, 2016 6:38 am
- Forum: Personal Finance (Not Investing)
- Topic: HELP: salary negotiation
- Replies: 17
- Views: 3415
Re: HELP: salary negotiation
I would negotiate a higher salary at private company to offset the lack of 401k and other stuff not available.
- Wed Dec 07, 2016 6:29 am
- Forum: Personal Investments
- Topic: Managing kids money
- Replies: 30
- Views: 3956
Re: Managing kids money
True taxes won't impact anything with 1K but we would still need to be able to track it. I try to manage our taxes and come as close to zero refund as possible and need to have insight into any accounts that would impact our tax return.donall wrote:I guess I would just have grandparents set-up the account however they want,as taxes should not have to be an issue for quite a while (dividends over $1000 are taxable for child). Hopefully over the years the trust issue improves. The 529 plan sounds like a good idea. What is important is that the grandparents want to help.
- Tue Dec 06, 2016 5:59 am
- Forum: Personal Investments
- Topic: Managing kids money
- Replies: 30
- Views: 3956
Re: Managing kids money
Thanks for all the responses, very helpful insight.
- Mon Dec 05, 2016 8:08 am
- Forum: Personal Investments
- Topic: Managing kids money
- Replies: 30
- Views: 3956
Re: Managing kids money
It does not matter who the custodian is, a gift in an UTMA is a completed transfer from giftor to giftee. The money belongs to child. That said, have your wife inform the parents that brother is not a viable choice. That ought to make for interesting dinner table conversation. I hold UTMA for my nieces and nephew's, I did not assign a successor custodian, if I go, I expect the monies go with child, not my estate. Unless the parents of niece/nephew are reckless with money why would you not let the parents be custodians? Money is a touchy subject. It is emotional, do not look the gift horse in the mouth, accept it as part of being married. Old saying, when you marry, you marry the family too, remember that! Thanks for not answering my questi...
- Mon Dec 05, 2016 6:46 am
- Forum: Personal Investments
- Topic: Managing kids money
- Replies: 30
- Views: 3956
Re: Managing kids money
Clearly, the grandparents don't want YOU to have any control whatsoever over the money. In this situation, I would not look a gift horse in the mouth, but you may wish to tell grandparents that their grandchild will be responsible for the tax returns while the grandchild is a minor which means YOU are responsible for the tax returns. You already know this because you are the custodian of a UTMA. So grandparents if they have a UTMA for their grandchild will need to keep you totally informed of its annual income. Since they got some salesrep to deal with, ask them what the salesrep says about the annual taxes that are possible on their gift. Many grandparents simply assume that a UTMA has no tax return consequences. So they may not even know...
- Mon Dec 05, 2016 6:44 am
- Forum: Personal Investments
- Topic: Managing kids money
- Replies: 30
- Views: 3956
Re: Managing kids money
Unless the parents of niece/nephew are reckless with money why would you not let the parents be custodians?Grt2bOutdoors wrote:It does not matter who the custodian is, a gift in an UTMA is a completed transfer from giftor to giftee. The money belongs to child.
That said, have your wife inform the parents that brother is not a viable choice. That ought to make for interesting dinner table conversation. I hold UTMA for my nieces and nephew's, I did not assign a successor custodian, if I go, I expect the monies go with child, not my estate.
- Mon Dec 05, 2016 6:28 am
- Forum: Personal Investments
- Topic: Managing kids money
- Replies: 30
- Views: 3956
Managing kids money
My in-laws want to start gifting my kid money (in what I assume in a UTMA account), but I think they want to keep control of "their" money that they gift. They brought over an insanely complicated investment plan with an advisor for a nominal starting amount of money (think ~$1K). I would assume my wife would be custodian but the papers they brought showed the successor custodian as my SIL who I do not get along with. I explained to my wife a gift should have no strings attached and I don't want anyone but my wife and I to have control over accounts with my kids SSN attached, for tax reporting purposes. We already have a UTMA account for kid and prefer they just write a check for whatever they want to give and my wife and I will h...
- Sun Nov 06, 2016 12:33 pm
- Forum: Personal Investments
- Topic: Is it possible to have more than one taxable account at Vanguard?
- Replies: 5
- Views: 1236
Re: Is it possible to have more than one taxable account at Vanguard?
Yes, just go through VG's online process to open a new account.
- Thu Nov 03, 2016 11:10 am
- Forum: Personal Finance (Not Investing)
- Topic: HSA but I'm on spouse health plan
- Replies: 11
- Views: 1580
Re: HSA but I'm on spouse health plan
So I'm thinking the best option is a HDHP and contribute as much as we can to the HSA. Almost half of the premium paid also passes through to the HSA. We are young enough (early 30s) that we don't have many non-preventative visits.
Thanks guys for clarifying this for me.
Thanks guys for clarifying this for me.
- Thu Nov 03, 2016 10:45 am
- Forum: Personal Finance (Not Investing)
- Topic: HSA but I'm on spouse health plan
- Replies: 11
- Views: 1580
Re: HSA but I'm on spouse health plan
Why not? Can there only be 1 HSA per HDHP?
I also added to the OP.
I also added to the OP.
- Thu Nov 03, 2016 10:41 am
- Forum: Personal Finance (Not Investing)
- Topic: HSA but I'm on spouse health plan
- Replies: 11
- Views: 1580
HSA but I'm on spouse health plan
Assume I am covered by a spouse's employers HDHP. Spouse would contribute to a HSA but not to the family maximum.
I am eligible for health insurance through my employer but my spouse has better options so I waive that benefit through my employer. Would I be eligible to contribute to my own HSA using these assumptions?
Also assume I carry my own HDHP as a single person and spouse carries her own HDHP for herself and our kid. Would she be able to contribute the family maximum and I contribute the single maximum?
I am eligible for health insurance through my employer but my spouse has better options so I waive that benefit through my employer. Would I be eligible to contribute to my own HSA using these assumptions?
Also assume I carry my own HDHP as a single person and spouse carries her own HDHP for herself and our kid. Would she be able to contribute the family maximum and I contribute the single maximum?
- Thu Oct 06, 2016 3:13 pm
- Forum: Personal Finance (Not Investing)
- Topic: Mechanics of setting up and administering a TRUST
- Replies: 4
- Views: 733
Re: Mechanics of setting up and administering a TRUST
Yikes. You really need to just sit down with a professional. So many variables to consider.
Also there's a ton of information online if you can find it.
Also there's a ton of information online if you can find it.
- Tue Sep 27, 2016 7:24 am
- Forum: Personal Consumer Issues
- Topic: Computer backup options
- Replies: 21
- Views: 3012
Re: Computer backup options
90% of the data does not change. It's just added to like new bills or statements being filed, new photos,etc. 10% or even as low as 5% is updated daily.
However if something does change I don't want to have to keep track if this is or isn't backed up. I want the software to do that.
However if something does change I don't want to have to keep track if this is or isn't backed up. I want the software to do that.
- Tue Sep 27, 2016 7:18 am
- Forum: Personal Consumer Issues
- Topic: Computer backup options
- Replies: 21
- Views: 3012
Computer backup options
I use 2 external hard drives: 1 for everyday use like storing my files (2TB) and 1 solely for backup purposes (1TB).
I've always backed my files up using the 1TB driving by doing a simple copy/paste of all files from the 2TB to 1TB. This is not efficient for me and takes a really long time since there are hundreds of GB of files.
Today I am trying the windows backup feature.
So my question is on how windows backup really works. Does it backup every file every time? Or does it scan files to find changes since the last backup and overwrite those files only?
Or does anyone have suggestions on more efficient ways of backing up large amounts of data, most of which is generally not accessed often?
I've always backed my files up using the 1TB driving by doing a simple copy/paste of all files from the 2TB to 1TB. This is not efficient for me and takes a really long time since there are hundreds of GB of files.
Today I am trying the windows backup feature.
So my question is on how windows backup really works. Does it backup every file every time? Or does it scan files to find changes since the last backup and overwrite those files only?
Or does anyone have suggestions on more efficient ways of backing up large amounts of data, most of which is generally not accessed often?
- Tue Sep 27, 2016 5:53 am
- Forum: Personal Finance (Not Investing)
- Topic: Accounting question about equity
- Replies: 10
- Views: 1255
Re: Accounting question about equity
Your net income should be rolled into retained earnings every year.
Issuance of stock, buying back stock, vesting of stock awards, other comprehensive income...
If you are talking personal finance, there is no "equity". It's called net worth. Assets - liabilities
Issuance of stock, buying back stock, vesting of stock awards, other comprehensive income...
If you are talking personal finance, there is no "equity". It's called net worth. Assets - liabilities