Search found 9300 matches

by Nate79
Mon Mar 25, 2024 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Surprise contractor bill
Replies: 21
Views: 2259

Re: Surprise contractor bill

I guess if you don't want to pay for the panel then they should remove it.
by Nate79
Sun Mar 24, 2024 6:32 pm
Forum: Personal Investments
Topic: Omitted dividends from funds in Merrill 401K?
Replies: 8
Views: 391

Re: Omitted dividends from funds in Merrill 401K?

How do you know the returns are less in the 401k vs outside? Be specific in how you are calculating this.
by Nate79
Sun Mar 24, 2024 12:11 pm
Forum: Personal Investments
Topic: buying mutual funds seems easier than buying ETFs
Replies: 57
Views: 3990

Re: buying mutual funds seems easier than buying ETFs

Not sure you are afraid you will get a higher price when trying to buy the ETF when by definition you have no idea also what price you will pay for the mutual fund.
by Nate79
Thu Mar 21, 2024 8:51 pm
Forum: Personal Investments
Topic: In-Service Rollover from Voya 401k to Individual 401k
Replies: 13
Views: 739

Re: In-Service Rollover from Voya 401k to Individual 401k

Do you understand IRS rules that limit in service distributions? I’m not entirely sure what specific rule you might be alluding to here — I wasn’t planning to take a distribution, but instead rollover to a separate 401k. I’ve previously rolled money from an old 401k into my Roth IRA and I’m much younger than 59.5. I paid the tax, but it wasn’t a penalty-incurring distribution as it was simply rolled over from one retirement plan to another. Unless that maneuver was some process that’s against an IRS rule you’re referring to, it seems analogous to me to go from an active 401k to another retirement plan. Just because it’s at a current employer shouldn’t rationally seem to make a difference to the IRS, as you’re not skipping out on any taxes ...
by Nate79
Thu Mar 21, 2024 4:49 pm
Forum: Personal Investments
Topic: Highly Concentrated Position In Zero Cost Basis Holding
Replies: 23
Views: 1428

Re: Highly Concentrated Position In Zero Cost Basis Holding

Its an interesting dilemma. I bet the single stock fluctuates more than the capital gain tax rate but you can research and see if my guess is correct.
by Nate79
Thu Mar 21, 2024 1:06 pm
Forum: Personal Investments
Topic: Direct Indexing - Morgan Stanley
Replies: 25
Views: 1935

Re: Direct Indexing - Morgan Stanley

How many years of holding does it take to make up for the capital gains tax vs 1.5% front load and 0.85% per year? Not many.
by Nate79
Thu Mar 21, 2024 7:32 am
Forum: Personal Investments
Topic: In-Service Rollover from Voya 401k to Individual 401k
Replies: 13
Views: 739

Re: In-Service Rollover from Voya 401k to Individual 401k

Do you understand IRS rules that limit in service distributions? Also, do you have self employed income that would make you eligible for a solo401k?
by Nate79
Wed Mar 20, 2024 8:41 pm
Forum: Personal Investments
Topic: Equiy Indexed Annuity using retirement money
Replies: 28
Views: 1885

Re: Equiy Indexed Annuity using retirement money

Sadly you wasted your money on this "advisor."
by Nate79
Wed Mar 20, 2024 2:34 pm
Forum: Investing - Theory, News & General
Topic: Reset 4% withdrawal floor if portfolio increases in value?
Replies: 93
Views: 7950

Re: Reset 4% withdrawal floor if portfolio increases in value?

I would think if you reset your 4% safe withdrawl rate you are also reseting the time aspect (i.e. 30 years). Unless your withdrawl rate is a perpetual rate.
by Nate79
Wed Mar 20, 2024 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: HSA earnings on excess - how to calculate?
Replies: 15
Views: 1317

Re: HSA earnings on excess - how to calculate?

I over contributed as well. Fidelity did the calculation as part of the claw back and sent the over contribution and earnings to the account I specified. The whole process was straightforward and online. Cheers I would just do as dcabler suggests if you’ll already be over for 2024. Bad luck/timing! I’m new to HSA/managing money in general and I haven’t invested any of the money in my HSA (which is another post in itself, lol) so I don’t believe fidelity is involved as the money is literally sitting in HSA Bank. Would the earnings calculation still be complicated? Request the amount of the excess contribution from HSA Bank. They will compute the earnings on it and refund you the correct amount. Sadly I’ve called HSA bank twice and each time...
by Nate79
Tue Mar 19, 2024 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Home Insurance Policy - Legalities Related to Cancelling It
Replies: 13
Views: 1180

Re: Home Insurance Policy - Legalities Related to Cancelling It

We have had many homeowners insurance for our different homes over the years in multiple states. I don't even remember signing forms physically and certainly not both spouses. Your entire post seems to be about who signed as some big deal. I'm surprised both spouses need to sign as I don't ever remember this being a requirement.

Just cancel and move on. Maybe get an independent insurance broker who will shop around for you and find a good company to work with.
by Nate79
Tue Mar 19, 2024 7:35 am
Forum: Investing - Theory, News & General
Topic: Genius of the Financial Industry
Replies: 44
Views: 3021

Re: Genius of the Financial Industry

SmileyFace wrote: Tue Mar 19, 2024 7:31 am It will be interesting to see where the real estate industry goes from here. Maybe the financial industry will someday follow.
I think the disruption of the financial industry already happened. Thanks to Charles Schwab and Jack Bogle we can invest with a brokerage for no fees and expense ratios all in <0.0X %. You can still invest with very high expense products but there is no restriction to use low cost (except for some employer plans).
by Nate79
Tue Mar 19, 2024 5:36 am
Forum: Investing - Theory, News & General
Topic: Genius of the Financial Industry
Replies: 44
Views: 3021

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.
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: 44
Views: 4232

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: 2019

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: 19
Views: 2697

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: 1148

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: 1171

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: 1502

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: 1070

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: 359

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: 594

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: 71
Views: 4238

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: 15653

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: 1147

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: 916

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: 1106

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: 1106

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: 3201

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: 2186

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: 2186

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: 544

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: 1697

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: 26518

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: 731

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: 1697

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: 16694

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: 1581

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: 4295

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: 609

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: 1617

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: 638

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: 1617

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: 54
Views: 6076

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: 54
Views: 6076

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: 1313

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: 1097

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: 2349

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: 2928

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.