Search found 9288 matches
- Tue Mar 19, 2024 5:36 am
- Forum: Investing - Theory, News & General
- Topic: Genius of the Financial Industry
- Replies: 11
- Views: 877
Re: Genius of the Financial Industry
A lot of words with no content. Even low cost index funds are very complex to run. I would suggest a little bit of research.
- 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: 43
- Views: 2333
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.
- Mon Mar 18, 2024 1:56 pm
- Forum: Personal Finance (Not Investing)
- Topic: Financial implications of long jury duty
- Replies: 24
- Views: 1807
Re: Financial implications of long jury duty
Your reason is pretty much the same as almost everyone else. It's nothing special.
- 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: 9
- Views: 1086
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.
- 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
How do you think a Roth opened in 1999 would fall afoul of the 5 year rule?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
- Sat Mar 16, 2024 6:16 pm
- Forum: Personal Investments
- Topic: Non-401K contribution question
- Replies: 17
- Views: 1080
Re: Non-401K contribution question
Where does your kid work? They need earned income and this area is ripe for fraud.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
- 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?
- 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
Sure, you can have extra withholding on your w4 to account for extra tax you may 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.
- 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?
- 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
That's not the requirement. Read the footnote in the linked document. The funds that meet California requirements are specifically marked.
- Thu Mar 14, 2024 5:17 pm
- Forum: Personal Investments
- Topic: Questions on Wash Sale?
- Replies: 68
- Views: 3647
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
Aka irrelevant wash sale
- 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: 15193
Re: 5M, probably enough to retire to a frugal lifestyle
Apparently that's what rich people call frugal.
- 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.
- Wed Mar 13, 2024 6:14 pm
- Forum: Personal Investments
- Topic: Tax loss harvesting and buying like funds
- Replies: 12
- Views: 896
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...
- Wed Mar 13, 2024 2:03 pm
- Forum: Personal Finance (Not Investing)
- Topic: solo 401K contributions calculation
- Replies: 17
- Views: 1076
Re: solo 401K contributions calculation
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.
- Wed Mar 13, 2024 7:12 am
- Forum: Personal Finance (Not Investing)
- Topic: solo 401K contributions calculation
- Replies: 17
- Views: 1076
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.
- 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.
- 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.
- 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.
- 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.
- 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: 1659
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...
- Mon Mar 11, 2024 12:58 pm
- Forum: Investing - Theory, News & General
- Topic: Fundrise - Real Estate
- Replies: 161
- Views: 26298
Re: Anyone Invest With Fundrise?
You can search for posts by myself (including in this thread and others) on my experience 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.
- Mon Mar 11, 2024 11:08 am
- Forum: Personal Finance (Not Investing)
- Topic: W4 withholding
- Replies: 8
- Views: 714
Re: W4 withholding
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?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
- 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: 1659
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.
- Sun Mar 10, 2024 9:38 pm
- Forum: Personal Investments
- Topic: Leaving Payflex HSA - avoid account closure fee?
- Replies: 66
- Views: 16565
Re: Leaving Payflex HSA - avoid account closure fee?
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.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.
- Sat Mar 09, 2024 8:30 am
- Forum: Personal Finance (Not Investing)
- Topic: International ATM fees (again)
- Replies: 20
- Views: 1527
Re: International ATM fees (again)
Why are you asking about foreign transaction fees? Those are for purchases.
- 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.
- 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.
- Sat Mar 02, 2024 1:59 pm
- Forum: Personal Investments
- Topic: HSA question
- Replies: 11
- Views: 1600
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.
HSA is much better then FSA.
- 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?
Why do you need this?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!
- Fri Mar 01, 2024 10:16 am
- Forum: Personal Finance (Not Investing)
- Topic: Tax question re house sale [NY resident, sold house in FL]
- Replies: 11
- Views: 1179
Re: Tax question re house sale [NY resident, sold house in FL]
Where will you live after the sale?
- Thu Feb 29, 2024 7:37 pm
- Forum: Personal Investments
- Topic: HSA question
- Replies: 11
- Views: 1600
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.
- Thu Feb 29, 2024 7:22 pm
- Forum: Investing - Theory, News & General
- Topic: [Webull 3% Offer]
- Replies: 48
- Views: 5086
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...
- Thu Feb 29, 2024 5:49 pm
- Forum: Investing - Theory, News & General
- Topic: [Webull 3% Offer]
- Replies: 48
- Views: 5086
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.
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.
- 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: 1304
Re: Goofed on HSA contributions in 2018 - can we fix?
Your HSA provider should have a form/process for return of excess contributions.
- 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?
- 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: 2286
Re: Inadvertently Funded Solo 401K with Non-Deductible T-IRA at Fidelity
To clarify when I said start over I meant take it in cash, pay taxes and penalties and start over.BuckeyeAaron wrote: ↑Thu Feb 22, 2024 5:14 pmI 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.
- Thu Feb 22, 2024 5:07 pm
- Forum: Personal Investments
- Topic: 401k fund choices (make sure you're sitting down)
- Replies: 32
- Views: 2847
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.
- 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: 2286
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.
- Wed Feb 21, 2024 6:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: Paying off credit card debt
- Replies: 31
- Views: 3057
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.
- 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: 543
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.
- Tue Feb 20, 2024 4:59 pm
- Forum: Personal Finance (Not Investing)
- Topic: Excluding a young adult driver who no longer lives at home from my insurance policy
- Replies: 34
- Views: 2543
Re: Excluding a young adult driver who no longer lives at home from my insurance policy
She will get her own policy?
- 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
Not false. The info was explained above.thedaybeforetoday wrote: ↑Sun Feb 18, 2024 3:55 pmFalse
https://www.irs.gov/taxtopics/tc403#:~: ... me%20taxes.
- Sun Feb 18, 2024 11:52 am
- Forum: Personal Finance (Not Investing)
- Topic: Massachusetts taxation of US Government Securities
- Replies: 19
- Views: 1606
- 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.
Also, gambling income is complicated. Research the term gambling session.
- Fri Feb 16, 2024 11:55 am
- Forum: Personal Finance (Not Investing)
- Topic: Looking for IRS guidelines on if compensation for participating in a clinical trial is taxable if under $600
- Replies: 16
- Views: 1144
Re: Looking for IRS guidelines on if compensation for participating in a clinical trial is taxable if under $600
I'm not sure why you should care what the NIH website says about this topic.
- 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: 2284
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.
- Thu Feb 15, 2024 10:17 pm
- Forum: Personal Investments
- Topic: The Surprising Return of Interest
- Replies: 68
- Views: 8878
Re: The Surprising Return of Interest
No, not surprised because I pay attention to my money and investments.
- 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.
- 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.