Search found 133 matches

by MP123
Tue Oct 17, 2017 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: S-Corp Solo 401k Salary Deferral (How to)
Replies: 15
Views: 767

Re: S-Corp Solo 401k Salary Deferral (How to)

Doesn't increasing my salary amount to make the 401k contribution also increase the amount that I can contribute 25% of on the Employers side? Not sure if that's box 1 or box 2 income. It is W-2 Box 1 and that can include health insurance premiums and HSA contributions paid or reimbursed by the S-C...
by MP123
Tue Oct 17, 2017 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: S-Corp Solo 401k Salary Deferral (How to)
Replies: 15
Views: 767

Re: S-Corp Solo 401k Salary Deferral (How to)

have you contributed to the SEP on the employer side this year? If so and it's a 5305 type SEP(most are)..then you can't contribute to both the SEP and 401k in the same year. No, I've been making the SEP contribution in April for the previous year. At Schwab too so good to know! The employee deferr...
by MP123
Tue Oct 17, 2017 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: S-Corp Solo 401k Salary Deferral (How to)
Replies: 15
Views: 767

S-Corp Solo 401k Salary Deferral (How to)

Let say I have an S-Corp, do a payroll monthly, and pay myself a $50k salary on a W2. The S-Corp has a net profit of $100k which will end up on a K-1 to me whether I distribute it or not. I would like to open a Solo 401k for this year and for the Employee salary deferral portion contribute $24k (I'm...
by MP123
Wed Oct 11, 2017 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Card - Should I get a Replacement
Replies: 47
Views: 2580

Re: Social Security Card - Should I get a Replacement

I get asked for the number regularly but like you haven't seen the actual card since the 70s.

I've never been asked for the card either. As I recall it was just a blue slip of cardboard, not exactly secure or anything.
by MP123
Tue Oct 10, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA costs arrived
Replies: 88
Views: 9973

Re: 2018 ACA costs arrived

I got notice from Regence that they will no longer offer insurance in our area. So will have to look for a new policy Nov. 1 There aren't many insurers left either on or off the exchange where we live.
by MP123
Sun Oct 08, 2017 12:49 pm
Forum: Personal Consumer Issues
Topic: Password Protection
Replies: 53
Views: 3162

Re: Password Protection

Regarding storing encrypted passwords in the cloud: others have pointed out how many millennia it would take to decrypt a properly-encrypted password, such as those created by any password manager; I thought I would remind people that TV police procedurals where the quirky computer expert decrypts ...
by MP123
Sat Oct 07, 2017 11:42 am
Forum: Personal Consumer Issues
Topic: Password Protection
Replies: 53
Views: 3162

Re: Password Protection

In WWII, The Germans thought the Enigma cipher machine was "safe", too. Until it wasn't. Pretty sure a lot more resources were devoted to cracking enigma than my lousy account credentials. As for Equifax — touché. Hmmmm... Seems to me that any hacker kid with a laptop has far far more computer reso...
by MP123
Fri Oct 06, 2017 5:37 pm
Forum: Personal Consumer Issues
Topic: Refund from Home Closing - 13+ years later (!?)
Replies: 12
Views: 1642

Re: Refund from Home Closing - 13+ years later (!?)

I'd probably take them to the bank in person and not just stick them in an ATM or mobile deposit.

At the very least they might bounce and you'd get stuck with fees. Sure sounds like a scam though.
by MP123
Fri Oct 06, 2017 5:06 pm
Forum: Personal Consumer Issues
Topic: Refund from Home Closing - 13+ years later (!?)
Replies: 12
Views: 1642

Re: Refund from Home Closing - 13+ years later (!?)

Certainly smells fishy to me...

If not I'd say they owe you 13 years of interest too!
by MP123
Fri Oct 06, 2017 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Circumstances in which a freeze needs to be lifted
Replies: 34
Views: 2436

Re: Circumstances in which a freeze needs to be lifted

For those of you who've had your freeze for years, did moving during that time ever affect anything? Did you need to do anything? I was looking at the freeze info by state on Experian's website, and I noticed for some states, it said some variation of "If you move to a new address and wish to keep ...
by MP123
Fri Oct 06, 2017 2:16 pm
Forum: Investing - Theory, News & General
Topic: Gold ETF
Replies: 32
Views: 2994

Re: Gold ETF

IAU and GLD hold physical gold in vaults and are probably the easiest way to buy and "hold" bullion if that's what you're after. There are a wide variety of other Gold ETFs that track indexes, hold options, and so on. There are also some that invest in gold mining companies which is another angle yo...
by MP123
Thu Oct 05, 2017 5:33 pm
Forum: Personal Consumer Issues
Topic: Best places to retire in 2018
Replies: 4
Views: 1344

Re: Best places to retire in 2018

Interesting list, thanks.

I'm not sure I'd consider Honolulu and San Diego to be particularly "affordable" though.

I wish they'd just put it in a list instead of making you click through 37 pages of slideshow interspersed with ads. Arrrgghh! :oops:
by MP123
Thu Oct 05, 2017 11:16 am
Forum: Personal Consumer Issues
Topic: Health insurance gamble?
Replies: 24
Views: 2012

Re: Health insurance gamble?

Having a baby and loosing heath insurance are both Qualifying Life Events which make you eligible for special enrolment in ACA (Obamacare) plans. That might be another option besides Cobra. My guess is it might be Nov 1 before you get it all set up though... I agree that retroactive coverage sounds ...
by MP123
Thu Sep 28, 2017 11:08 am
Forum: Investing - Theory, News & General
Topic: Which is better a Cryptocurrency or Gold?
Replies: 99
Views: 6160

Re: Which is better a Cryptocurrency or Gold?

In a true disaster scenario in the US (think nuclear war or total economic meltdown) would you rather be holding on to something that depends on access with the outside world and technology or something that people see as intrinsically valuable and rare? Guns, ammo, food supplies and water are your...
by MP123
Mon Sep 25, 2017 1:40 pm
Forum: Investing - Help with Personal Investments
Topic: Interesting(?) 529 scenario
Replies: 9
Views: 1020

Re: Interesting(?) 529 scenario

jsa307, Not being familiar with CT tax code I misinterpreted your first post and thought you would be able to deduct the $10,000 from your tax bill (i.e. tax credit) rather than from income before taxes. In that case it would be an obvious choice! I think you're correct that the analysis is more com...
by MP123
Mon Sep 25, 2017 11:59 am
Forum: Investing - Theory, News & General
Topic: Which is better a Cryptocurrency or Gold?
Replies: 99
Views: 6160

Re: Which is better a Cryptocurrency or Gold?

"A cryptocurrency"?

Which one? How do you choose? Are you picking Betamax or VHS? Does anyone even remember what those are? :D

I'm sticking with a small allocation of Gold. Blockchain is interesting but still in it's infancy, may not even be around in 10 years.
by MP123
Mon Sep 25, 2017 11:17 am
Forum: Investing - Help with Personal Investments
Topic: Interesting(?) 529 scenario
Replies: 9
Views: 1020

Re: Interesting(?) 529 scenario

It seems to me that the higher expense ratio in CT would cost you an additional $150/yr over the NY expense ratio. Hard to tell how the overall performance of the funds will differ though, that higher cost may or may not make much difference if the CT funds outperform the NY ones. The additional $10...
by MP123
Sat Sep 23, 2017 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone own a home and drop insurance coverage after mortgage paid off?
Replies: 36
Views: 2395

Re: Anyone own a home and drop insurance coverage after mortgage paid off?

With what sounds like a $1.5 million paid off asset you probably want an umbrella insurance policy in addition to your homeowners to cover your liability. Or perhaps it's protected by homestead exemptions in your state?

I would not drop the HO for sure.
by MP123
Sun Sep 10, 2017 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Am I overinsured on my autos?
Replies: 20
Views: 1581

Re: Am I overinsured on my autos?

I would say you are underinsured on your limits and overinsured on the deductible. +1 Increase your deductible, increase your limits and shop around. 50/100 is low - I would have 100/300 as a bare minimum and go higher if you can. Also do a full review of your coverage. Do you need comprehensive/co...
by MP123
Sat Sep 09, 2017 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Thought on including this in net equity calculations
Replies: 7
Views: 511

Re: Thought on including this in net equity calculations

That's a bit like buying a lottery ticket and counting the potential multi-million dollar jackpot in your NW ahead of time. I wouldn't but I guess if it makes you feel better to do so then go ahead, lots of people fudge their net worth to themselves. It really depends on how you're planning to use y...
by MP123
Fri Sep 08, 2017 4:13 pm
Forum: Personal Consumer Issues
Topic: Do I need an Amazon Echo??.....
Replies: 68
Views: 4907

Re: Do I need an Amazon Echo??.....

Sending every word said in my house to Amazon to be analyzed? :shock:

No thanks.
by MP123
Fri Sep 08, 2017 12:25 pm
Forum: Investing - Theory, News & General
Topic: [Bitcoin] question
Replies: 125
Views: 8940

Re: If Ethereum was hacked then the creators edited the ledger, doesnt that mean...

So if 51% of the miners (by computer power) decide they'd rather see a different ledger and account balances they are free to create it?

Frankly that doesn't sound very secure. At all...
by MP123
Tue Aug 22, 2017 1:38 pm
Forum: Personal Consumer Issues
Topic: "Forget Tough Passwords: New Guidelines Make It Simple"
Replies: 43
Views: 5516

Re: "Forget Tough Passwords: New Guidelines Make It Simple"

The main risk is that the hackers will get a hold of the password file from the web site, and then throw heavy compute resources at it (e.g. purchased from Amazon cloud computing) to break all the easy passwords. That's why a website should never store your password but rather a hashed value that c...
by MP123
Thu Aug 17, 2017 12:51 pm
Forum: Personal Consumer Issues
Topic: popcorn ceiling, removal or drywall over it?
Replies: 41
Views: 2961

Re: popcorn ceiling, removal or drywall over it?

I've had good luck with wetting down and scraping the popcorn off. Much will depend on how the sheetrock itself looks, the popcorn was sprayed there to help cover up imperfections, lumps over joists, mismatched joints, and so on that may be revealed when you scrape it off. If your house was built in...
by MP123
Thu Aug 17, 2017 12:39 pm
Forum: Personal Consumer Issues
Topic: [Prevent mail theft; sign for USPS Informed Delivery]
Replies: 187
Views: 11845

Re: Postal Service -- "informed delivery"

This service is pretty handy but it does make me wonder about who else might be getting scanned images of the outside of my mail. Government agencies? advertisers? I guess they're getting it already though so I might as well too...
by MP123
Wed Aug 09, 2017 2:26 pm
Forum: Investing - Help with Personal Investments
Topic: Muni Bonds and Taxes.
Replies: 24
Views: 1676

Re: Muni Bonds and Taxes.

Correct assuming you live in California and are buying a CA bond fund. I don't think any states tax interest from their own muni bonds but many do tax interest from other states bonds which is why they have state specific funds. Muni bond interest isn't taxed at a Federal level either. If you live i...
by MP123
Tue Aug 08, 2017 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowner's Insurance Coverage
Replies: 14
Views: 1532

Re: Homeowner's Insurance Coverage

If you have a mortgage on the property your lender may require a certain amount of coverage.

Or maybe construction costs in your area have gone up a great deal? In many areas this is the case.
by MP123
Mon Aug 07, 2017 1:05 pm
Forum: Investing - Help with Personal Investments
Topic: Gift for children in 25 years in taxable account or UGMA/UTMA?
Replies: 13
Views: 1019

Re: Gift for children in 25 years in taxable account or UGMA/UTMA?

UGMA/UTMA accounts are taxable accounts for which the owner (child) would need to file taxes, should the capital gains and dividends, combined with other income, meet the threshold for needing to file. The threshold for dependents is lower than for other taxpayers. In addition the child may be subj...
by MP123
Thu Aug 03, 2017 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 276
Views: 24371

Re: A poll: How much money do you need to retire?

"I am shocked by the amounts that people are listing. I assume either a) they want to live fairly lavishly or b) they are listing the amount they "want"." I am 52. My NW is over $30mm and I am not convinced I have enough to retire. $22mm stocks, bonds cash, $9mm real estate. No debt. 6 kids. Lots o...
by MP123
Fri Jul 21, 2017 12:28 pm
Forum: Personal Consumer Issues
Topic: car rental at OGG, any opinions?
Replies: 30
Views: 1853

Re: car rental at OGG, any opinions?

Picking up a car at Kahului (OGG) is pretty much always bad no matter which company you use. They get swamped when all the flights from the mainland arrive at about the same time. You just have to be patient. If you don't need a car (and you likely do) on Maui you might try Roberts for airport trans...
by MP123
Wed Jul 19, 2017 11:47 am
Forum: Personal Finance (Not Investing)
Topic: State Farm - Insurance checkup
Replies: 8
Views: 876

Re: State Farm - Insurance checkup

I got a similar call from my State Farm agent and took him up on it. The "review" seemed to mostly be an opportunity to try to sell me various flavors of Whole Life insurance. It was a good time to increase some deductibles and limits though. Probably worth sitting down with your agent but you might...
by MP123
Tue Jul 04, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Help with choosing health insurance
Replies: 9
Views: 1045

Re: Help with choosing health insurance

Its worth checking the websites of the various plans to see what providers are in- and out- of network in your area. If essentially all of the hospitals and Drs. are in network then chances are you won't end up with out of network billings anyway. Also, the HSA plan likely allows you (and/or your em...
by MP123
Mon Jul 03, 2017 6:14 pm
Forum: Investing - Theory, News & General
Topic: What's the ideal safe retirement net worth target?
Replies: 225
Views: 34591

Re: What's the ideal safe retirement net worth target?

An eye opener :happy "A June 2015 Government Accountability Office analysis found that that average Americans between the ages of 55 and 64 have accrued about $104,000 in retirement savings" http://www.investopedia.com/articles/personal-finance/011216/average-retirement-savings-age-2016.asp This ma...
by MP123
Mon Jul 03, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance form regarding stacking of limits
Replies: 6
Views: 795

Re: Insurance form regarding stacking of limits

It might also be referring to the Umbrella policy limit with respect to the underlying policy limits.
by MP123
Wed Jun 28, 2017 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: what would you do? considering relocating and visiting area first
Replies: 10
Views: 958

Re: what would you do? considering relocating and visiting area first

Most realtors would be happy to orient you to the area, take you on a tour, maybe show you a few places. Maybe you can get a recommendation of one and set something up before you go.
by MP123
Sun Jun 11, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Tax gain harvesting for kids' UTMA accts
Replies: 17
Views: 1554

Re: Tax gain harvesting for kids' UTMA accts

aristotelian wrote:Just wait til they inherit the money and teach them to do it. Odds are they will still be in 15% bracket at 18 or 21 and then they will learn something from it.
Just remember they may be subject to kiddie tax up until age 24 if they're a full time student even after the UTMA is turned over to them.
by MP123
Fri Jun 09, 2017 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Check made out to me, not S-Corp
Replies: 8
Views: 1085

Re: Check made out to me, not S-Corp

At year end they may send you personally a 1099 rather than your S-Corp so watch for that assuming they have your SSN instead of the S-Corp's EIN.
by MP123
Fri Jun 09, 2017 2:42 pm
Forum: Investing - Help with Personal Investments
Topic: Son's UTMA account
Replies: 46
Views: 3348

Re: Son's UTMA account

^Well, one reason to use a UTMA account is that grandparents don't want the parents (or son-in-law or daughter-in-law or ...) to have any control of the money. Right, a lot of these accounts are money that comes from someone other than the parent. Also, I think before the kiddie tax caught up with ...
by MP123
Fri May 19, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Carryover Losses and Tax Gain Harvesting
Replies: 4
Views: 545

Re: Carryover Losses and Tax Gain Harvesting

$400k in carryover losses? Ouch. Hard to say what the future holds for tax legislation but they could certainly use it today to offset their capital gains (if any) which would reduce their taxes and thus increase the estate size potentially. I would imagine that in their mid-70s the value of the $3,...
by MP123
Fri May 19, 2017 1:21 pm
Forum: Personal Consumer Issues
Topic: Few days in Portland in July
Replies: 36
Views: 2899

Re: Few days in Portland in July

In addition to the Japanese garden there's a Chinese garden right in downtown and easier to get to. It's a pleasant oasis in the city and doesn't take nearly the time that the Japanese garden does. The Saturday market on the river is a good time if you're a shopper, there's also a Farmers market at ...
by MP123
Wed May 17, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Do I need a LLC to Do Consulting Work
Replies: 20
Views: 2596

Re: Do I need a LLC to Do Consulting Work

In some industries, the companies only want to contract with an LLC or Corporation for consulting services to ease the risks on their end. This was the case for a friend of mine that did consulting for several years. That has been my experience too. Organizing as a Corp or LLC will make things much...
by MP123
Thu May 11, 2017 1:53 pm
Forum: Investing - Theory, News & General
Topic: Did you buy SNAP?
Replies: 116
Views: 11189

Re: Did you buy SNAP?

chicagoan23 wrote:Not a bad report today, only a $2.2 billion loss on $150 million in revenue.


Ha! No problem, they'll make it up on volume! :)
by MP123
Thu May 11, 2017 11:52 am
Forum: Personal Finance (Not Investing)
Topic: any concern about keeping large amount of cash at Vanguard
Replies: 24
Views: 3317

Re: any concern about keeping large amount of cash at Vanguard

In addition to the $5 million dollar minimum the Prime fund is subject to liquidity fees and redemption gates as well as a floating NAV. It's not at all the same thing as the Federal MM. In the Prime fund they are telling you upfront that in a meltdown you will only have access to a portion of your ...
by MP123
Mon May 08, 2017 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Will or Trust?
Replies: 13
Views: 1568

Re: Will or Trust?

Do you have a relative or close friend that you would feel comfortable serving as Trustee? There are significant ongoing costs if you need to have a professional corporate trustee administer the trust. It's not really an either/or question though and you should have a Will even if you also have a Tr...
by MP123
Sat Apr 29, 2017 5:03 pm
Forum: Personal Consumer Issues
Topic: Pressure relief valve on hot water heater issue
Replies: 55
Views: 3861

Re: Pressure relief valve on hot water heater issue

How old is the tank? You may have fixed the leak by flushing the valve. On the other hand they're cheap and easy to replace. The PRV is there so that if the tank's thermostat fails and runs away the whole thing won't explode from the steam pressure. That would be very very bad. The tank is 3 years ...
by MP123
Sat Apr 29, 2017 4:43 pm
Forum: Personal Consumer Issues
Topic: Pressure relief valve on hot water heater issue
Replies: 55
Views: 3861

Re: Pressure relief valve on hot water heater issue

How old is the tank?

You may have fixed the leak by flushing the valve. On the other hand they're cheap and easy to replace. The PRV is there so that if the tank's thermostat fails and runs away the whole thing won't explode from the steam pressure. That would be very very bad.
by MP123
Sat Apr 29, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: When to consider Long Term Care Insurance
Replies: 38
Views: 3246

Re: When to concider Long Term Care Insurance

These days it's very hard to get a good LTCI policy. Companies have been cutting back quite a bit since they've lost a bundle on them. If you're lucky enough to be grandfathered into an existing policy with good terms then I'd keep it otherwise I'm not sure that you'll find any policy that's worth p...
by MP123
Fri Apr 28, 2017 11:26 am
Forum: Investing - Help with Personal Investments
Topic: Need to pull money out of my brokerage account. Anything to watch out for?
Replies: 17
Views: 1466

Re: Need to pull money out of my brokerage account. Anything to watch out for?

The transaction itself is routine but you may want to be sure the mortgage company is expecting it. They can be quite particular about the source of funds used as a downpayment. You may need to document how it suddenly showed up in your checking account for example. It's not a major problem but you ...
by MP123
Mon Apr 03, 2017 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Please check my AMT understanding
Replies: 9
Views: 1234

Re: Please check my AMT understanding

Hmmm... If they deducted their state income tax on Schedule A it wouldn't come directly off their federal tax, it would reduce their AGI. But for the bonus point: they'd need to make estimated payments of at least 100% of their prior years taxes for a "safe harbor" from penalties. That goe...
by MP123
Mon Apr 03, 2017 2:46 pm
Forum: Investing - Help with Personal Investments
Topic: What's the flaw in this strategy:
Replies: 27
Views: 2329

Re: What's the flaw in this strategy:

It seems to me that you're talking about two different things both of which are useful but not related: 1) You can recognize a capital loss and deduct it up to $3,000. and/or 2) You can contribute to a Roth. The dollars don't really care where they "came from". They're all the same anyway,...