Search found 30 matches

by Petra
Mon Feb 12, 2018 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Small Business Owner questions - assets & shareholder basis
Replies: 2
Views: 244

Small Business Owner questions - assets & shareholder basis

I have a small Scorp and my accountant has asked me to update an equipment list (based on what I still own). I see from the accountant's depreciation & amortization report that all equipment has been depreciated over the years. Why is it important to keep track of what assets I still have (from an a...
by Petra
Wed Feb 07, 2018 7:55 am
Forum: Investing - Help with Personal Investments
Topic: Investment ideas for my Saturna HSA
Replies: 3
Views: 175

Investment ideas for my Saturna HSA

What NTF ETF are available at Saturna (Pershing brokerage) that you like and how have you/would you position them in your HSA? (I have an HSA funded to about $20,000 at Saturna; I'm only familiar with Vanguard index funds, but the VG funds come with an additional fee so I'm exploring). I'm intereste...
by Petra
Tue Jan 30, 2018 8:51 am
Forum: Investing - Help with Personal Investments
Topic: Recs for ETFs for International exposure (in Tax protected account)
Replies: 4
Views: 265

Re: Recs for ETFs for International exposure (in Tax protected account)

-VEA Vanguard FTSE Developed Markets ETF or -VGK Vanguard FTSE Europe ETF -VWO Vanguard FTSE Emerging Markets ETF -VPL Vanguard FTSE Pacific ETF -VNQI Vanguard Global ex-U.S. Real Estate Index Fund ETF https://investor.vanguard.com/etf/list Cheers, I like to hold a total of 20% international equiti...
by Petra
Tue Jan 30, 2018 8:41 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard's advice on bond portion of portfolio
Replies: 42
Views: 5849

Re: Vanguard's advice on bond portion of portfolio

It was recently suggested by a Vanguard rep to hold this allocation within the bond portion of my portfolio: Short Term VFSUX 14% Intermediate Term VFIDX 21% Total Bond VBTLX 35% International Bond 30% I also received the same advice from V/G (but minus the International bond portion) so must be st...
by Petra
Tue Jan 30, 2018 8:38 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard's advice on bond portion of portfolio
Replies: 42
Views: 5849

Re: Vanguard's advice on bond portion of portfolio

I'm having trouble talking myself out of using CDs at least for short-term duration, if not also intermediate. For example, Vgd's short-term bond fund (ETF ticker BSV) is yielding 1.64% with average maturity of 2.7 years. Meanwhile, I can get that same yield with a 1-yr CD, or about 2.3% at 2 years...
by Petra
Mon Jan 29, 2018 10:00 am
Forum: Investing - Help with Personal Investments
Topic: Recs for ETFs for International exposure (in Tax protected account)
Replies: 4
Views: 265

Recs for ETFs for International exposure (in Tax protected account)

What are your recommendations/thoughts on Mutual Funds or ETFs for international exposure? I like to hold a total of 20% international equities overall and I already hold 15% of that in tax protected accounts in VGTSX Investor Shares (admiral shares are not avail). I have an additional 5% of Interna...
by Petra
Mon Jan 08, 2018 5:11 pm
Forum: Investing - Help with Personal Investments
Topic: Porfolio Review requested, many thanks!
Replies: 6
Views: 707

Re: Porfolio Review requested, many thanks!

I wrote "Moderately high risk aversion" in error - I meant to write a "moderately high risk tolerance." Hmmm. Must have been a freudian slip or something (or whatever the financial equivalent is to freudian).
by Petra
Sun Jan 07, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: If I gift my shares of our 50/50 Scorp to my spouse, are there tax considerations?
Replies: 0
Views: 122

If I gift my shares of our 50/50 Scorp to my spouse, are there tax considerations?

Currently, my spouse and I are 50/50 shareholders of an SCorp in CT. One spouse would like to gift their shares to the other. Can we gift them for $0, or do we need to "charge"? Is there any reporting we need to do on our taxes? Do we need to claim any transfer of income, or figure out what the shar...
by Petra
Sat Jan 06, 2018 9:57 am
Forum: Investing - Help with Personal Investments
Topic: Porfolio Review requested, many thanks!
Replies: 6
Views: 707

Re: Porfolio Review requested, many thanks!

CollegePrudens I treat the 529 as a separate account. I also edited the post to clarify that I intend to the 529 to be for the last two years of undergraduate school which is 5 years away. Given the five year time frame, do you think I should change the allocation from 70/30 to something safer say 5...
by Petra
Fri Jan 05, 2018 8:24 pm
Forum: Investing - Help with Personal Investments
Topic: Porfolio Review requested, many thanks!
Replies: 6
Views: 707

Porfolio Review requested, many thanks!

Emergency Fund: 6 months in savings ($50,000 - fully funded) earning 1.3% Debt: $20,000 auto loan at 0% interest ($333/monthly payments) Mortgage paid off, but property taxes are about $7,000/year Tax status: Married filing jointly with one dependent teenager Tax rate: 28% State of residence: CT Her...
by Petra
Mon Jan 01, 2018 5:16 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review requested (TIA!)
Replies: 1
Views: 189

Portfolio Review requested (TIA!)

My concerns: So little of the money I've saved is in retirement accounts due to the fact that I started saving so late (most is in a taxable brokerage account). I have a sizeable sum to add to the portfolio at present (about 22% of it's total value) and am un-decided as to how to invest it. I prefer...
by Petra
Fri Dec 08, 2017 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Scorp changing from joint owners to spouse only
Replies: 3
Views: 245

Re: Scorp changing from joint owners to spouse only

Also I would love any feedback regarding how this would change that way we file our taxes and etc. (any financial ramifications).
by Petra
Fri Dec 08, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Scorp changing from joint owners to spouse only
Replies: 3
Views: 245

Re: Scorp changing from joint owners to spouse only

Hayden Why would two owners make it harder to pierce the corporate veil? Just FYI In my case it may be that my partner's work is more likely to instigate a liability suit (he often drives on the job, has equipment, etc.) vs. my work is more desk oriented. But I'd like to consider as much feedback an...
by Petra
Thu Dec 07, 2017 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Scorp changing from joint owners to spouse only
Replies: 3
Views: 245

Scorp changing from joint owners to spouse only

My husband and I own an Scorp and are 50/50 shareholders. Our lawyer advises, for liability reasons, to put the company in my husband's name and to make me the TOD beneficiary. I would become simply an employee. How might that change our taxes (if any) and what other potential financial ramification...
by Petra
Thu Oct 05, 2017 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Planning - What next?
Replies: 2
Views: 588

Retirement Planning - What next?

Unfortunately I'm one of those people who started saving for retirement very late (in my 40s), due to a combination of: - a lack of financial literacy (I grew up under the poverty line, thus was never exposed to IRAs or portfolios etc.) - a high need child that took a whole lot of attention for what...
by Petra
Sun Sep 17, 2017 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Small SCorp required to sign Master Service Agreement with Large Company
Replies: 4
Views: 625

Re: Small SCorp required to sign Master Service Agreement with Large Company

I filled out the request for information, which included a section outlining that they are not more than 30% of our business and who the principals are. Next, they would like me to fill out what they are calling an "Agency Bidding Form." This does not look like the rate card we use. It has a list of...
by Petra
Thu Aug 10, 2017 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Scorp wants to understand when to pay sales tax
Replies: 1
Views: 260

Scorp wants to understand when to pay sales tax

I have a small Scorp (in CT). I use certain vendors (in NY), who upon setting up the accounts over a decade ago requested a resale certificate. They do not charge tax on their invoices. These charges become costs associated with doing a certain job for which I bill my client and I do not include tax...
by Petra
Tue Aug 08, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Scorp moving salary & distributions from corp to personal
Replies: 2
Views: 232

Scorp moving salary & distributions from corp to personal

I have a small Scorp with my husband, and just learned after many years of being in business, that my accountant has been executing my taxes incorrectly (like an independent contractor, not issuing w-2s, etc. He was, however, paying both sides of FICA so we have been paying those taxes/not dodging. ...
by Petra
Sat Aug 05, 2017 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Small SCorp required to sign Master Service Agreement with Large Company
Replies: 4
Views: 625

Small SCorp required to sign Master Service Agreement with Large Company

I have a small SCorp and one of my major clients (big company) just noticed (after 20 years) that I do not have the usual paperwork on file. They would like me to sign an ECL (ethical commitment letter), Master Service Agreement, Non-disclosure agreement, and RFI (Request for Information in lieu of ...
by Petra
Wed Jul 19, 2017 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

Spirit Rider can you post a link to the IRC on that section?
by Petra
Tue Jul 18, 2017 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

On the phone with Vanguard Retirement Administrator, who knocked the question up the food chain and they are so far stumped. If the IRS and Vanguard can't confirm either way, who can? (as I shout into an empty void and hear an echo...). But I cracked him up when I said this is the Twin Peaks of IRS ...
by Petra
Tue Jul 18, 2017 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

Adding a very naive comment here but it feels like the $6,000 catch up should not be included, as it would negate the catch up for those that need it most.
by Petra
Tue Jul 18, 2017 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

Page 2 of Vanguard's iSolo401k plan kit: The total amount contributed (by employer and employee) can’t exceed the annual additions limit ($53,000 for 2016; $59,000 for participants age 50 or older using the catch-up contribution) or 100% of compensation. So Spirit Rider VG literature does not outlin...
by Petra
Tue Jul 18, 2017 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

Spirit Rider I like your demonstration of the 144,000 calculation.
by Petra
Tue Jul 18, 2017 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

Do you know of any publications that I can cite that say the catch up contribution is not included in the cap/limit? (the IRS says citing a publication goes a long way!)
by Petra
Tue Jul 18, 2017 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

Spirit Rider that is very tricky! It does not reflect on any of the calculators (including bankrate which also spits out $1988) but I see your reasoning here! If this is the case I bet many are calculating incorrectly.

(as an aside I do hate the idea of not being able to trust the calculators!)
by Petra
Tue Jul 18, 2017 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

aristotelian I checked out the calculator at mysolo401k.org. We are married joint owners of an scorp with no employees so I'm wondering if single owner corporation is the correct category? (the only other category was unincorporated sole proprietorship). When I plugged in the numbers, it gave me $1,...
by Petra
Tue Jul 18, 2017 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Re: Solo 401k contribution limits (CPA confused! So I am too help)

But spirit rider since I've already made the salary deferral of $24,000, if the cap is employer + employee wouldn't that make $6497 over the cap?
by Petra
Tue Jul 18, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution limits (CPA confused! So I am too help)
Replies: 19
Views: 1119

Solo 401k contribution limits (CPA confused! So I am too help)

I have an Scorp, for which my husband and I are employees and I've newly have setup a solo 401k with Vanguard for each of us. My husband's w-2 income was reported on line 1 as $1,988.09. Employee contribution, indicated on line 12a, was $24,000 (he is over 50). Social security withheld (line 4) was ...