Search found 9287 matches

by Nate79
Mon Mar 18, 2024 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: The NAR settlement doesn't mean what you think what it means
Replies: 42
Views: 2144

Re: The NAR settlement doesn't mean what you think what it means

I'm actually surprised there are not more posts like this but maybe they realize their industry was found guilty.
by Nate79
Mon Mar 18, 2024 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Financial implications of long jury duty
Replies: 24
Views: 1793

Re: Financial implications of long jury duty

Your reason is pretty much the same as almost everyone else. It's nothing special.
by Nate79
Mon Mar 18, 2024 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes. When is married filing separately better than married filing jointly?
Replies: 7
Views: 833

Re: Taxes. When is married filing separately better than married filing jointly?

If your state allows to file differently than your federal return then you may find scenario where you have benefit to file state as MFS. That's the case for us where each spouse has very different income.
by Nate79
Sun Mar 17, 2024 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Taxing Roth IRA-I need Help
Replies: 13
Views: 1060

Re: Taxing Roth IRA-I need Help

mageedge wrote: Sun Mar 17, 2024 11:24 am You may have fallen afoul of the 5-year rule if you opened the Roth in 1999. However, if that is the case, you would still be able to withdraw actual contributions tax free. It's only the earnings that would be subject to tax. So, if your contributions were less than your withdrawal you would owe no tax. If it was more then the excess will be subject to tax but no penalty because you are over 59.5
How do you think a Roth opened in 1999 would fall afoul of the 5 year rule?
by Nate79
Sat Mar 16, 2024 6:16 pm
Forum: Personal Investments
Topic: Non-401K contribution question
Replies: 17
Views: 1077

Re: Non-401K contribution question

Josh5000 wrote: Sat Mar 16, 2024 6:12 pm We're in 24% tax bracket so no Traditional IRA for us. Not sure why the employer chose Rollover/Simple IRA instead of 401k.

I had been getting liquored up on backdoor Roth and backdoor IRA so my mind went into 'saving more' gear. I even heard people opening Roth IRA for their 5-year-old. What would be an acceptable solution for that?

Here is a video of someone opening a Roth IRA for a infant.

https://www.youtube.com/watch?v=jNChHsAdVls

Thanks
Where does your kid work? They need earned income and this area is ripe for fraud.
by Nate79
Sat Mar 16, 2024 8:30 am
Forum: Personal Investments
Topic: Sell stock in IRA, Buy it again Immediately in Taxable
Replies: 10
Views: 1465

Re: Sell stock in IRA, Buy it again Immediately in Taxable

Why are you playing with single stocks which is anti-Bogleheads?
by Nate79
Sat Mar 16, 2024 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Discrepancy with employer withholding and federal tax I owe
Replies: 16
Views: 1022

Re: Discrepancy with employer withholding and federal tax I owe

Macro wrote: Sat Mar 16, 2024 8:03 am I checked with my payroll admin and all the information on my W4 is accurate. I am filing single, no dependents, state and local residency is accurate.

Gross wages: 284,686
Federal tax withheld: 55,004

A little over 50% of the 284,686 was a single annual bonus. The payroll admin told me that it was taxed at a flat 22% (as all bonuses are).

Running through my W2 on FreeTaxUSA now and I owe over $11,000 in federal taxes.

I'm still completely confused as to how this discrepancy exists. There is nothing more I can update on my W4 - all the information was correct.
Sure, you can have extra withholding on your w4 to account for extra tax you may owe.
by Nate79
Fri Mar 15, 2024 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Tax ACT HSA questions
Replies: 4
Views: 349

Re: Tax ACT HSA questions

Does it ask to input over 55 catch up contributions separately from normal contributions?
by Nate79
Fri Mar 15, 2024 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard MM Cash reserves and CA State tax write off potential
Replies: 9
Views: 568

Re: Vanguard MM Cash reserves and CA State tax write off potential

mageedge wrote: Fri Mar 15, 2024 11:01 am Unless I am misunderstanding your data then VMRXX does meet the California threshold of 50% and consequently you will be able to deduct the appropriate % for state tax purposes
That's not the requirement. Read the footnote in the linked document. The funds that meet California requirements are specifically marked.
by Nate79
Thu Mar 14, 2024 5:17 pm
Forum: Personal Investments
Topic: Questions on Wash Sale?
Replies: 68
Views: 3625

Re: Questions on Wash Sale?

The wash sales are irrelevant. You sold the shares that had their basis adjusted by the wash sales. The broker should track all of this.

Aka irrelevant wash sale
by Nate79
Thu Mar 14, 2024 2:28 pm
Forum: Investing - Theory, News & General
Topic: 5M, probably enough to retire to a frugal lifestyle
Replies: 180
Views: 15186

Re: 5M, probably enough to retire to a frugal lifestyle

Apparently that's what rich people call frugal. :oops:
by Nate79
Wed Mar 13, 2024 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Box-12, Vanguard 1099-B, FreeTaxUSA question
Replies: 15
Views: 1046

Re: Box-12, Vanguard 1099-B, FreeTaxUSA question

It says right there on the form that box d is checked, line 12.
by Nate79
Wed Mar 13, 2024 6:14 pm
Forum: Personal Investments
Topic: Tax loss harvesting and buying like funds
Replies: 12
Views: 894

Re: Tax loss harvesting and buying like funds

Just had a zoom meeting with Fido rep. We are expecting a follow up email discussing tax management strategies such as tax loss harvesting. We know and accept that if we sold SPY ETF and bought it back within 30 days that we do not get tax loss harvesting benefits. But what about if we sell SPY when/if the market is down, and then buy something similar like VTI? Can we harvest losses yet capture any move up without market timing? Or does the IRS not allow this based upon moving into a similar fund? Thank you. If allowed, does anyone do this? Regarding your question about tax loss harvesting by selling SPY and then buying something similar like VTI, it's crucial to consult with a tax professional or financial advisor who can provide specifi...
by Nate79
Wed Mar 13, 2024 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: solo 401K contributions calculation
Replies: 17
Views: 1073

Re: solo 401K contributions calculation

avalpert1 wrote: Wed Mar 13, 2024 1:46 pm
Nate79 wrote: Wed Mar 13, 2024 7:12 am A written election by the employee for employee solo401k deferrals had to have been made by 12/31. Was this done? If not then you only need to think about employer contributions.
This is no longer true - the Secure 2.0 Act allows for you to make retroactive elections of employee deferrals for sole proprietors.
Sorry, but I have seen this posted opinion many times but there is no agreement on this. If you have a clear reference on the topic of written election requirements I'm all ears. But the multiple threads on this same topic has not came to a conclusion.
by Nate79
Wed Mar 13, 2024 7:12 am
Forum: Personal Finance (Not Investing)
Topic: solo 401K contributions calculation
Replies: 17
Views: 1073

Re: solo 401K contributions calculation

A written election by the employee for employee solo401k deferrals had to have been made by 12/31. Was this done? If not then you only need to think about employer contributions.
by Nate79
Wed Mar 13, 2024 7:10 am
Forum: Personal Finance (Not Investing)
Topic: How long after death to transfer assets
Replies: 33
Views: 3082

Re: How long after death to transfer assets

I dont think you need an executor to provide a death certificate for a TOD account. The beneficiary/family members can handle that themselves.
by Nate79
Tue Mar 12, 2024 7:56 am
Forum: Personal Consumer Issues
Topic: Mouse nest in engine compartment after recent service
Replies: 27
Views: 2122

Re: Mouse nest in engine compartment after recent service

We had squirrels nest in our car once. Destroyed a bunch of wiring harnesses - was quite expensive. Our auto insurance covered it.
by Nate79
Tue Mar 12, 2024 6:44 am
Forum: Personal Consumer Issues
Topic: Mouse nest in engine compartment after recent service
Replies: 27
Views: 2122

Re: Mouse nest in engine compartment after recent service

Yeah, if your expectation is that the dealer has or will claim any responsibility here you are way off.
by Nate79
Mon Mar 11, 2024 6:12 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with Donegal Insurance, anyone?
Replies: 4
Views: 526

Re: Experience with Donegal Insurance, anyone?

We have them for auto insurance but haven't had to use them. They were recommended by our independent agent who thinks well of them. We are in Delaware.
by Nate79
Mon Mar 11, 2024 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard IRA to Fidelity HSA Once-In-A-Lifetime Mess
Replies: 17
Views: 1658

Re: Vanguard IRA to Fidelity HSA Once-In-A-Lifetime Mess

You have already spent more time on this than I could have ever imagined doing for such a minor to nonexistent benefit. Yes, it sure feels that way. With about 10k cash to put towards retirement accounts I had to decide how best to spend it. I could a) fund my HSA in the normal way or I could b) fund my HSA via rollover from my traditional account (from pre-tax to potentially no-tax) and use the 10k to cover taxes on 30k Roth conversion. I decide that that using my low income year to swing the needle on about 40k of pre-to-post was the way to go. I made the 30k Roth conversion in January so I'm either committed to completing the transfer or losing the annual space in my HSA. Sorry, I'm not understanding why you are going thru an IRA to the...
by Nate79
Mon Mar 11, 2024 12:58 pm
Forum: Investing - Theory, News & General
Topic: Fundrise - Real Estate
Replies: 161
Views: 26297

Re: Anyone Invest With Fundrise?

ruanddu wrote: Mon Mar 11, 2024 11:42 am [Thread merged into here --admin LadyGeek]

Hello, I have heard of Fundrise and was hoping to learn from those who have invested with them or considered investing. I see the 2023 return from Fundrise was -7.45% and 2022 was +1.50. Those returns aren’t instilling confidence but have noticed prior to 2022 they have done well. For my level of investment they offer a 100% real estate fund or a 90% real estate 10% private equity if I remember correctly. Any experience or analysis you can share is appreciated.
You can search for posts by myself (including in this thread and others) on my experience with Fundrise.
by Nate79
Mon Mar 11, 2024 11:08 am
Forum: Personal Finance (Not Investing)
Topic: W4 withholding
Replies: 8
Views: 714

Re: W4 withholding

Tideout wrote: Mon Mar 11, 2024 8:19 am [Topic is now in Personal Finance (Not Investing) - tax withholding question. mod mkc]

Hello,

Long story short…………… I need to pay LESS tax on my paychecks, and do quarterly payments instead. I am single with no children/dependents. Can this be done thru the W4?


Tideout
You are supposed to withhold the proper amount from a W2 job and not use quarterly payments. Why are you shifting taxes paid to quarterly tax payments?
by Nate79
Mon Mar 11, 2024 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard IRA to Fidelity HSA Once-In-A-Lifetime Mess
Replies: 17
Views: 1658

Re: Vanguard IRA to Fidelity HSA Once-In-A-Lifetime Mess

You have already spent more time on this than I could have ever imagined doing for such a minor to nonexistent benefit.
by Nate79
Sun Mar 10, 2024 9:38 pm
Forum: Personal Investments
Topic: Leaving Payflex HSA - avoid account closure fee?
Replies: 66
Views: 16564

Re: Leaving Payflex HSA - avoid account closure fee?

TheRoundHeadedKid wrote: Sun Mar 10, 2024 5:18 pm I am seriously considering leaving PayFlex (recently rebranded as Inspira) because of the $10 monthly maintenance fee, and minimum of $1000 deposit into the HSA deposit account that earns a measly one cent a month interest. I had assumed that I had to use my health plan's HSA administrator. But it seems not.
You can do regular pulls from Fidelity and there are no fees. I do this every couple of months. I just leave my money in Payflex in cash and then do transfers of most, but not all of the cash to Fidelity. Pretty easy, all done online. Takes a few weeks for the cash to arrive at Fidelity.
by Nate79
Sat Mar 09, 2024 8:30 am
Forum: Personal Finance (Not Investing)
Topic: International ATM fees (again)
Replies: 20
Views: 1526

Re: International ATM fees (again)

Why are you asking about foreign transaction fees? Those are for purchases.
by Nate79
Sat Mar 09, 2024 8:25 am
Forum: Personal Finance (Not Investing)
Topic: [Impacted by] pro-rata rule when doing backdoor-Roth a few months ago, any possibility to reverse it?
Replies: 50
Views: 4235

Re: Fidelity misinformed me about pro-rata rule when doing backdoor-Roth a few months ago, any possibility to reverse it

It is not the job of the broker to give tax advice. Fidelity didn't misinform you. The title of your thread is wrong. You should edit it or ask a mod to correct your misinformation.
by Nate79
Mon Mar 04, 2024 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate Capital Gains and 1031ing into DST or another property
Replies: 8
Views: 602

Re: Real Estate Capital Gains and 1031ing into DST or another property

Converting to a personal residence will have very little impact on the taxes.
by Nate79
Sat Mar 02, 2024 1:59 pm
Forum: Personal Investments
Topic: HSA question
Replies: 11
Views: 1599

Re: HSA question

You need to remove the excess contributions (for this year and any past years you were ineligible) and you pay a 6% penalty each year until they are removed. Sounds like this year you are ineligible and probably last year as well.

HSA is much better then FSA.
by Nate79
Fri Mar 01, 2024 12:01 pm
Forum: Personal Investments
Topic: Tool to determine an ETF's estimated high/low price targets?
Replies: 5
Views: 623

Re: Tool to determine an ETF's estimated high/low price targets?

scwed wrote: Fri Mar 01, 2024 9:40 am Dear Bogleheads,

Is there a simple tool that we can use (or a quick and easy way) to determine an ETF's estimated high/low price targets (similar to what the NASDAQ does for individual stocks based on analysts offering 12 month price targets for the stocks in the last 3 months).

Thanks!
Why do you need this?
by Nate79
Thu Feb 29, 2024 7:37 pm
Forum: Personal Investments
Topic: HSA question
Replies: 11
Views: 1599

Re: HSA question

Unfortunately any year that she had this account open including the year there are rollover funds you need to completely undo your HSA contributions.
by Nate79
Thu Feb 29, 2024 7:22 pm
Forum: Investing - Theory, News & General
Topic: [Webull 3% Offer]
Replies: 48
Views: 5084

Re: [Webull 3% Offer]

They also have a 3.5% IRA transfer bonus (is 4.5% if you refer someone and they also do a transfer, that person also gets 4.5%). I previously did a taxable transfer bonus with them. They paid it on time as promised. Their email support is very helpful/quick. I hate their platform but for a buy/hold investor for the bonus I will put up with it. Do you have a link or screenshot with details of this along with the full terms and conditions? 4.5% if unlimited is a hell of a bonus... from the RH thread the Webull bonus is reported to be deposited into taxable acct and in partial amounts over several years which makes it much less valuable, whereas the RH 3% is immediate into Roth (even above contribution limit) and never gets taxed, which for m...
by Nate79
Thu Feb 29, 2024 5:49 pm
Forum: Investing - Theory, News & General
Topic: [Webull 3% Offer]
Replies: 48
Views: 5084

Re: [Webull 3% Offer]

They also have a 3.5% IRA transfer bonus (is 4.5% if you refer someone and they also do a transfer, that person also gets 4.5%).


I previously did a taxable transfer bonus with them. They paid it on time as promised. Their email support is very helpful/quick. I hate their platform but for a buy/hold investor for the bonus I will put up with it.
by Nate79
Tue Feb 27, 2024 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Goofed on HSA contributions in 2018 - can we fix?
Replies: 16
Views: 1296

Re: Goofed on HSA contributions in 2018 - can we fix?

Your HSA provider should have a form/process for return of excess contributions.
by Nate79
Fri Feb 23, 2024 8:52 pm
Forum: Personal Consumer Issues
Topic: Insurance question for a car that was given away
Replies: 7
Views: 1074

Re: Insurance question for a car that was given away

What does the insurance company have to say about the situation?
by Nate79
Thu Feb 22, 2024 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Inadvertently Funded Solo 401K with Non-Deductible T-IRA at Fidelity
Replies: 30
Views: 2285

Re: Inadvertently Funded Solo 401K with Non-Deductible T-IRA at Fidelity

BuckeyeAaron wrote: Thu Feb 22, 2024 5:14 pm
Nate79 wrote: Thu Feb 22, 2024 5:03 pm Since the balance in the 401k is small I don't see why you would not just terminate it and start over fresh in 12 months. Solo401k is a serious employee sponsored retirement plan and as the sponsor you have to take it seriously.
I don’t disagree. And I hope my previous comments didn’t convey a frivolous approach to this matter; I do take this seriously and want to make wise decisions - hence this lengthy thread.

If electing to terminate; however, I want to understand the tax implications of cash distribution vs rollover back to the TIRA and ROTH conversion ability.
To clarify when I said start over I meant take it in cash, pay taxes and penalties and start over.
by Nate79
Thu Feb 22, 2024 5:07 pm
Forum: Personal Investments
Topic: 401k fund choices (make sure you're sitting down)
Replies: 32
Views: 2830

Re: 401k fund choices (make sure you're sitting down)

While not great, those fees are not even close to the worst we have seen on here and still below the level where you would decide to not use the 401k even above the match.
by Nate79
Thu Feb 22, 2024 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Inadvertently Funded Solo 401K with Non-Deductible T-IRA at Fidelity
Replies: 30
Views: 2285

Re: Inadvertently Funded Solo 401K with Non-Deductible T-IRA at Fidelity

Since the balance in the 401k is small I don't see why you would not just terminate it and start over fresh in 12 months. Solo401k is a serious employee sponsored retirement plan and as the sponsor you have to take it seriously.
by Nate79
Wed Feb 21, 2024 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off credit card debt
Replies: 31
Views: 3055

Re: Paying off credit card debt

Option 3 is a horrible idea. Option 1 and 2 are minor improvements of the current situation but neither of them will actually pay down the debt. It's important to understand neither 1 nor 2 have much impact.
by Nate79
Wed Feb 21, 2024 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401K - Can contributions go to existing Roth IRA?
Replies: 8
Views: 541

Re: Solo 401K - Can contributions go to existing Roth IRA?

A solo401k is a serious retirement account sponsored by the employer. In this case the employer is your wife and she is responsible for managing this account, no different than a megacap company. There are serious penalties for screwing things up. Please make sure you completely understand all of the rules before, not after.
by Nate79
Mon Feb 19, 2024 5:47 am
Forum: Personal Finance (Not Investing)
Topic: Massachusetts taxation of US Government Securities
Replies: 19
Views: 1606

Re: Massachusetts taxation of US Government Securities

thedaybeforetoday wrote: Sun Feb 18, 2024 3:55 pm
Nate79 wrote: Sun Feb 18, 2024 11:52 am
Iorek wrote: Sun Feb 18, 2024 11:49 am Just to confirm, no state is permitted to tax US gov't interest
And yet some states do.
False
https://www.irs.gov/taxtopics/tc403#:~: ... me%20taxes.
Not false. The info was explained above.
by Nate79
Sun Feb 18, 2024 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Massachusetts taxation of US Government Securities
Replies: 19
Views: 1606

Re: Massachusetts taxation of US Government Securities

Iorek wrote: Sun Feb 18, 2024 11:49 am Just to confirm, no state is permitted to tax US gov't interest
And yet some states do.
by Nate79
Fri Feb 16, 2024 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question
Replies: 4
Views: 639

Re: Tax Question

I believe that at the very bottom of the income list in Freetaxusa there is a category of other income that doesn't fit any of the categories.

Also, gambling income is complicated. Research the term gambling session.
by Nate79
Fri Feb 16, 2024 9:27 am
Forum: Personal Investments
Topic: Fixing my terrible 401k! (converting to ROTH?, and getting out of crappy, expensive fund)
Replies: 34
Views: 2277

Re: Fixing my terrible 401k! (converting to ROTH?, and getting out of crappy, expensive fund)

^^^ right, JTMIX most certainly has not had a return of -20% in the last 10 years.
by Nate79
Thu Feb 15, 2024 10:17 pm
Forum: Personal Investments
Topic: The Surprising Return of Interest
Replies: 68
Views: 8877

Re: The Surprising Return of Interest

No, not surprised because I pay attention to my money and investments.
by Nate79
Thu Feb 15, 2024 6:23 pm
Forum: Personal Investments
Topic: US citizen planning to live abroad: taxes implications for a brokerage account registered in WA
Replies: 23
Views: 2216

Re: US citizen planning to live abroad: taxes implications for a brokerage account registered in WA

My understanding is that you are a CA resident until you establish residency in another state. Just changing your address on your brokerage accounts doesn't do that. You need to actually establish residency in WA. Sounds like you are very far away from doing that IMO. But research this further.
by Nate79
Thu Feb 15, 2024 8:48 am
Forum: Personal Consumer Issues
Topic: Schwab website is Wonky?
Replies: 11
Views: 866

Re: Schwab website is Wonky?

Yes, it is happening with my accounts as well. But when I reload the webpage it will work ok. So seems to be a spotty issue. I can say in my years of using Schwab this is extremely rare. I would not move my accounts for this.
by Nate79
Wed Feb 14, 2024 4:50 pm
Forum: Personal Investments
Topic: SGOV vs SNSXX for short term/monthly cash flow
Replies: 8
Views: 1072

Re: SGOV vs SNSXX for short term/monthly cash flow

guppyguy wrote: Wed Feb 14, 2024 4:37 pm
DaveTH wrote: Wed Feb 14, 2024 4:23 pm The accrued dividends are included in the daily NAV for SGOV. On the ex-div date, the NAV drops by the amount of the declared distribution. So no, the timing of buys or sells doesn't really matter much. Also, I don't think SNSXX distributions are based on average daily balance. Dividends accrue daily based on each end of day balance.
Thanks!
So SGOV with a .07ER is better then SNSXX .34ER. Both are treasuries with similar maturities. Seems like SGOV is the better choice on ER alone, unless I'm missing something else?
SNSXX current 7 day SEC yield is 5.06%.
SGOV current 30 day SEC yield is 5.16%.

Yields already include the expense ratio.