Search found 921 matches

by MP123
Sun Jun 16, 2019 8:43 pm
Forum: Personal Consumer Issues
Topic: User reviews - How do you use them?
Replies: 16
Views: 436

Re: User reviews - How do you use them?

I tend to filter and look at the 2 and 3 star reviews (out of 5) because they often have substantive complaints. Then I look for recurring themes and decide if they would be an issue for me. I could care less about the 5 star glowing reviews. In the early days of the internet there was value in othe...
by MP123
Sat Jun 15, 2019 10:34 pm
Forum: Personal Consumer Issues
Topic: Radon levels in home
Replies: 13
Views: 1274

Re: Radon levels in home

Radon is related to geology and soil types, it can be an issue in some parts of the country but not others. I was curious about the levels in our house and got a 48hr test kit from Amazon. Cheap but you have to mail it in after exposing the carbon for 48hrs. I don't recall the exact numbers but they...
by MP123
Fri Jun 14, 2019 9:30 pm
Forum: Personal Consumer Issues
Topic: Health insurance cost containment company
Replies: 17
Views: 1302

Re: Health insurance cost containment company

Have you talked to Cigna? The letter asking about circumstances of your injury is normal so they can figure out if someone else has to pay or if they can subrogate the claim against a party that injured you. I don't know if it would end up in collections if you just ignore it. It seems to me that a ...
by MP123
Mon Jun 10, 2019 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Legal question re: HSA for live-in partner
Replies: 2
Views: 229

Re: Legal question re: HSA for live-in partner

You can't use your HSA for her expenses at this point since she isn't a spouse or dependent. But because she isn't your spouse or dependent and is covered by a family HDHP (yours) she can also make a full $7000 contribution to her own HSA. So you two are in a good position now. Once you marry you're...
by MP123
Sun Jun 09, 2019 7:02 pm
Forum: Personal Investments
Topic: Wash sale clarification needed
Replies: 13
Views: 516

Re: Wash sale clarification needed

The simplest, least legalese, least contentious answer is this: It's a "wash sale" if you broker says so. Don't do something that causes your broker to declare a "wash sale" on your tax report. The only thing brokerages are required to report are identical washes, meaning same CUSIP in the same acc...
by MP123
Sat Jun 08, 2019 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Do you carry Umbrella Insurance?
Replies: 136
Views: 8062

Re: Do you carry Umbrella Insurance?

Paul78 wrote:
Sat Jun 08, 2019 9:16 pm

With regarding to renter insurance it simple does not make sense to me because the ONLY people that every come to my apartment are my family and my girlfriend. I doubt either of those parties would try to sue me.
They probably won't but their insurance carriers might. See "subrogation".
by MP123
Sat Jun 08, 2019 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: HSA in retirement - whose expenses
Replies: 4
Views: 656

Re: HSA in retirement - whose expenses

Wonder how many people in this situation have been successful in employer setting up the child HSA. Also what happens after 26? The adult child can no longer contribute but use the funds I assume. The child, if covered by a family HSA-eligible plan and no other health insurance * , would set up his...
by MP123
Wed Jun 05, 2019 10:45 pm
Forum: Personal Investments
Topic: Can S-Corp offer HSA without offering health insurance
Replies: 21
Views: 1202

Re: Can S-Corp offer HSA without offering health insurance

Incidentally, since you presumably don't file a joint return with your girlfriend, are not each other's dependents, but both have family coverage (under her plan) it is quite possible that you both can take the full $7k HSA family contribution/deduction to your respective HSAs. This is one of those...
by MP123
Wed Jun 05, 2019 7:42 pm
Forum: Personal Investments
Topic: Can S-Corp offer HSA without offering health insurance
Replies: 21
Views: 1202

Re: Can S-Corp offer HSA without offering health insurance

Incidentally, since you presumably don't file a joint return with your girlfriend, are not each other's dependents, but both have family coverage (under her plan) it is quite possible that you both can take the full $7k HSA family contribution/deduction to your respective HSAs. This is one of those ...
by MP123
Wed Jun 05, 2019 6:57 pm
Forum: Personal Consumer Issues
Topic: Healthcare
Replies: 8
Views: 971

Re: Healthcare

Agreed but theoretically, if a person wasn't enrolled in any medical plan, came down with a medical issue and say this occurred a few months prior to the ACA open enrollment period. At that point, couldn't they enroll in an ACA plan and be fully covered from that point on? I am not advocating for t...
by MP123
Tue Jun 04, 2019 10:05 pm
Forum: Personal Consumer Issues
Topic: Are we downsizing too much?
Replies: 63
Views: 4681

Re: Are we downsizing too much?

What's the prospective neighborhood like compared to the old one?

Downsizing to a more convenient or preferred location might be worth giving up some space and might live "larger" if there were more amenities closer by.
by MP123
Tue Jun 04, 2019 7:39 pm
Forum: Personal Investments
Topic: Can S-Corp offer HSA without offering health insurance
Replies: 21
Views: 1202

Re: Can S-Corp offer HSA without offering health insurance

If you're covered by your spouse's HSA compatible insurance (family coverage) the two of you can contribute $7000 split up any way you'd like between yourselves. I think the S-corp can contribute to your HSA even if it doesn't provide the qualifying health insurance as long as the contribution is in...
by MP123
Tue Jun 04, 2019 7:23 pm
Forum: Personal Consumer Issues
Topic: Healthcare
Replies: 8
Views: 971

Re: Healthcare

You'd have to wait until open enrollment which is Nov 1 - Dec 15. Those dates are subject to change and have changed in the recent past.
by MP123
Sun Jun 02, 2019 9:30 pm
Forum: Personal Consumer Issues
Topic: Financing / Affording a Sportsmobile / luxurious small Class B RV…?
Replies: 49
Views: 2295

Re: Financing / Affording a Sportsmobile / luxurious small Class B RV…?

Maybe rent one for a week or two and take the kids to some National Parks? Just to check it out. I know some people that really enjoy the RV lifestyle and some others that are glad to be done with it. You wouldn't want to to sink $150k into a high end class B and find out it was too small for exampl...
by MP123
Fri May 31, 2019 7:02 pm
Forum: Personal Investments
Topic: Delay Social Security?
Replies: 35
Views: 3337

Re: Delay Social Security?

DKD wrote:
Fri May 31, 2019 6:51 pm
That's money I could be investing or using to reduce my withdrawals from higher taxed 401k savings.
Don't forget you'll be required to take RMDs from the 401k. So one often recommended plan is to spend down your 401k a bit (if needed) while delaying SS and prior to beginning RMDs.
by MP123
Fri May 31, 2019 6:46 pm
Forum: Personal Investments
Topic: Traditional IRA to Solo401k rollover
Replies: 5
Views: 263

Re: Traditional IRA to Solo401k rollover

There has been some discussion in previous threads about asset protection differences between IRAs and i401k. I'm not sure that there are any definite answers and it may depend on your state's laws but there may be differences in how your money is protected in the event of judgments and so on. Conso...
by MP123
Mon May 27, 2019 8:37 pm
Forum: Personal Consumer Issues
Topic: Port Townsend-Pacific Northwest
Replies: 33
Views: 2548

Re: Port Townsend-Pacific Northwest

More details about what you're looking for, likes/dislikes, and so on would get you more focused responses. What attracts you to Port Townsend? I can throw in Blaine/Semiahmoo, Anacortes, Friday Harbor, La Connor, and Sequim as being somewhat similar small towns in the area that might also be worthy...
by MP123
Sun May 26, 2019 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: House not selling
Replies: 134
Views: 10319

Re: House not selling

It's quite possible that you have in fact lost money by only owning the house for three years. Outside of some super hot markets that would not be at all unusual. Ultimately it's only worth what someone else will pay. In my experience you're better off with a substantial price reduction rather than ...
by MP123
Sun May 26, 2019 6:46 pm
Forum: Personal Consumer Issues
Topic: Port Townsend-Pacific Northwest
Replies: 33
Views: 2548

Re: Port Townsend-Pacific Northwest

Port Townsend is a fun little town to visit with a nice touristy downtown. It's reminds me a bit of Friday Harbor. If you're into outdoorsy stuff or boating it would be a great place for you. As mentioned above though it's a long way from anything really urban if you want or need that. Don't underes...
by MP123
Fri May 24, 2019 10:32 pm
Forum: Personal Investments
Topic: Help with my wife's 1099 Retirement and Backdoor Roth
Replies: 7
Views: 313

Re: Help with my wife's 1099 Retirement and Backdoor Roth

In both cases it's 25% of income as the "employer" contribution. more accurately it's 25% of compensation , whether incorporated or not it so happens that it's simpler to state this as 20% of net self employment income in the case of a sole proprietorship You're quite right. The math gets a little ...
by MP123
Fri May 24, 2019 10:13 pm
Forum: Personal Investments
Topic: Help with my wife's 1099 Retirement and Backdoor Roth
Replies: 7
Views: 313

Re: Help with my wife's 1099 Retirement and Backdoor Roth

In both cases it's 25% of income as the "employer" contribution. But the i401k also allows an "employee deferral" of up to $19k, even more if you're over 50. The employer contribution is assuming she's incorporated, 20% if schedule C. And even better it let's you do the backdoor Roth. No reason for ...
by MP123
Fri May 24, 2019 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: American Express lowered my credit limit
Replies: 61
Views: 4977

Re: American Express lowered my credit limit

I have seen reports of that before. It's a risk management thing. How so? What risk are they managing? I have never been late on any payments, and my credit score is very high. The risk that they get stuck with a fraudulent charge exceeding the new lower limit. That risk existed for many years befo...
by MP123
Fri May 24, 2019 9:43 pm
Forum: Personal Investments
Topic: Help with my wife's 1099 Retirement and Backdoor Roth
Replies: 7
Views: 313

Re: Help with my wife's 1099 Retirement and Backdoor Roth

You'd be much better off with a solo 401k than a SEP - IRA, especially if you're planning to do backdoor Roth conversions. For the backdoor you're right about opening a traditional IRA, but then you'd roll it into a Roth IRA. It's completely separate from the 401k but requires that you have no money...
by MP123
Fri May 24, 2019 8:48 pm
Forum: Personal Investments
Topic: Best way to backdoor Roth IRA
Replies: 37
Views: 2836

Re: Best way to backdoor Roth IRA

Silly question but when the funds are settled and available in the traditional ira Vanguard account, would you get an option or a button, convert and then yiu can hit that and convert to roth Ira!? I don't know about Vanguard but at Schwab it is truly that simple. They even keep the contributory IR...
by MP123
Thu May 23, 2019 6:38 pm
Forum: Personal Investments
Topic: Switch from SEP-IRA to solo 401k
Replies: 11
Views: 841

Re: Switch from SEP-IRA to solo 401k

Sorry, I had the terms backwards. You can contribute more to a Solo 401(k) with catch-up contributions once you reach 50. You can also take advantage of a backdoor Roth IRA. I plan on retirement at 50 😂 the backdoor Roth is really why I want to switch to a solo 401k. My current plan is: Keep 2019 v...
by MP123
Mon May 20, 2019 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a Solo 401k to roll over a large tIRA
Replies: 9
Views: 520

Re: Opening a Solo 401k to roll over a large tIRA

I don't think you need profit or even income to open the plan, just to contribute to it. Further, section 401(c)(1)(b) says that self employed individuals include those that have ever been self employed so I don't think you need to maintain the business except of course if you want to make contribut...
by MP123
Sun May 19, 2019 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k, Plan Administrator EIN question
Replies: 11
Views: 613

Re: Solo 401k, Plan Administrator EIN question

I'm still confused though. The sole proprietor will use his/her EIN for the plan (or get a plan ID and use that), but the administrator must also get a separate EIN even if it's the sole proprietor that has the EIN for his/her business? So, one would have 2-3 EIN's: 1 for business, 1 for administra...
by MP123
Sun May 19, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home- Demanding Buyer (Repairs)
Replies: 315
Views: 21404

Re: Selling Home: Demanding Buyer Part 2 (picture)

That service entrance box is mounted in contact with the ground. Completely unacceptable in any area of the country I'm familiar with. But it belongs to the power company so it's their issue. I'd limit the buyers request as worded to $x (where x is maybe $1k) and be done with the place. No one else ...
by MP123
Sun May 19, 2019 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k, Plan Administrator EIN question
Replies: 11
Views: 613

Re: Solo 401k, Plan Administrator EIN question

I used the S-corp EIN on the 5500-EZ which is what I used on the paperwork to start the plan too. So far no issues.

If you do get a separate EIN for the plan you should probably let the custodian know.
by MP123
Fri May 17, 2019 7:22 pm
Forum: Personal Investments
Topic: HSA for Dummies
Replies: 12
Views: 1166

Re: HSA for Dummies

An HSA account is the best deal around from a tax perspective. You don't pay tax on the money you put in, it's growth, or it's withdrawal as long as it's spent on medical. Unlike other tax advantaged accounts you don't need earned income to contribute, but you do need a high deductible health insura...
by MP123
Wed May 15, 2019 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Options for Depositing Check for Dissolved Entity
Replies: 4
Views: 476

Re: Options for Depositing Check for Dissolved Entity

How much is it for? An authorized signer should be able to endorse the check "pay to the order of..." You might also try depositing via ATM or better yet cell phone app. In my experience there is very little if any review of deposits made that way unless someone complains. To be clear I'm not encour...
by MP123
Sun May 12, 2019 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: How to Figure Payroll Taxes for S-Corp?
Replies: 22
Views: 1082

Re: How to Figure Payroll Taxes for S-Corp?

[quote=awdesign post_id=4540488 time=<a href="tel:1557685151">1557685151</a> user_id=145808] I am not sure if it is legal not to take reasonable w-2 every month. My accountant wants me to take w-2 salary every month to be safe. I pay myself w-2 monthly and take pass tru at the end of the year. It i...
by MP123
Sun May 12, 2019 9:35 pm
Forum: Investing - Theory, News & General
Topic: Can I do a self employed 401k + backdoor roth
Replies: 5
Views: 435

Re: Can I do a self employed 401k + backdoor roth

A 401k plan doesn't interfere with a backdoor Roth, but a regular (not inherited) IRA will. Of course you may be able to roll the IRA into the 401k to solve that.
by MP123
Sat May 11, 2019 9:17 pm
Forum: Personal Consumer Issues
Topic: Drill well today or drill well later?
Replies: 26
Views: 2136

Re: Drill well today or drill well later?

Bringing electric in will involve ongoing monthly costs even though you aren't using the service yet. If access is easy and not likely to be a problem in the future I'd wait on the electric. Drilling a well might be a good idea now. I don't know where the site is but in some areas water is hard to f...
by MP123
Thu May 02, 2019 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: created LLC, can I deduct aca premiums?
Replies: 9
Views: 945

Re: created llc, can I deduct aca premiums?

Note that your line 29 health insurance deduction can't be more than the net profit from your business. So you aren't really deducting it from the top line of the business as in the OP, but rather from the businesses bottom line by the time you put it on line 29. How is your LLC taxed? As a sole pro...
by MP123
Wed May 01, 2019 10:26 pm
Forum: Personal Consumer Issues
Topic: Hiring a contractor to cut down some trees....what should I be aware of?
Replies: 89
Views: 5134

Re: Hiring a contractor to cut down some trees....what should I be aware of?

Very useful tips! Thanks. Anyone ever had work done on a tree with CATV and phone lines running "thru" the branches. Do you need to have the CATV/phone companies move the lines or these tree guys good enough to cut the branches w/o damage to the incoming lines? Do the companies charge you if they h...
by MP123
Tue Apr 30, 2019 10:14 pm
Forum: Personal Investments
Topic: Backdoor Roth - Does It Make Sense? Other Thoughts?
Replies: 5
Views: 466

Re: Backdoor Roth - Does It Make Sense? Other Thoughts?

Your backdoor Roth contribution is only $6k and your mortgage is almost $50k/yr. I think you should focus on the $1,000,000+ in mortgage and student loan debt first. At your income you should be able to get rid of that fast. Assuming you're maxing out your tax deferred accounts the backdoor Roth is ...
by MP123
Tue Apr 30, 2019 8:52 pm
Forum: Personal Consumer Issues
Topic: Alka Seltzer Tablets but without medication?
Replies: 12
Views: 1352

Re: Alka Seltzer Tablets but without medication?

You might try "Nuun" tablets. Popular with cyclists, runners, and others. It's sort of a sports drink in a tablet that fizzles when you drop it in water. Various flavors, not sure if there's a plain.

They aren't super carbonated but similar to Alka seltzer without the medicine.
by MP123
Mon Apr 29, 2019 9:33 pm
Forum: Personal Consumer Issues
Topic: out of network emergency visits. Huge bill!!!
Replies: 73
Views: 6202

Re: out of network emergency visits. Huge bill!!!

To clarify: you have a $5k out of network out of pocket insurance policy, a $10k bill, and live in a state which allows balance billing? The allowed expenses are $1200? If your insurance appeal doesn't work out in my personal experience the healthcare providers may be willing to give you a substanti...
by MP123
Sun Apr 28, 2019 6:36 pm
Forum: Personal Consumer Issues
Topic: Umbrella insurance needed on secondary residence?
Replies: 12
Views: 870

Re: Umbrella insurance needed on secondary residence?

It probably depends on what state you live in and the fine print in the policy. I'd ask your agent. It probably won't cost much more if it even costs anything. But not telling them about the second home might be leaving a big hole in your umbrella. This is the time to find out, not when you need it.
by MP123
Thu Apr 25, 2019 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for specific plan
Replies: 16
Views: 608

Re: ACA subsidy for specific plan

Okay. Thanks. It seems like managing our income can give these results for a subsidy: $44k: $6800 subsidy $54k: $5300 subsidy $64k: $4300 subsidy This is useful in figuring out how much to do in Roth conversions. Yes. I have been pondering this as well. If you are eligible for ACA subsidies, doing ...
by MP123
Thu Apr 25, 2019 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for specific plan
Replies: 16
Views: 608

Re: ACA subsidy for specific plan

michaeljc70 wrote:
Thu Apr 25, 2019 9:59 pm
Okay. Thanks. It seems like managing our income can give these results for a subsidy:

$44k: $6800 subsidy
$54k: $5300 subsidy
$64k: $4300 subsidy

This is useful in figuring out how much to do in Roth conversions.
Yes.

Just don't forget:

$65K+: $0 subsidy
by MP123
Thu Apr 25, 2019 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for specific plan
Replies: 16
Views: 608

Re: ACA subsidy for specific plan

Yes. Did you complete the calculator? When you do so it should show you the silver plan costs and then keep reading and it will show you the bronze plan cost. Make sense? I do see that. But there is not one bronze plan. There are many of varying costs. Based on what I see and people are saying, cho...
by MP123
Thu Apr 25, 2019 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for specific plan
Replies: 16
Views: 608

Re: ACA subsidy for specific plan

The subsidy is based on the price of the second lowest cost silver plan. So for a bronze plan you might get it almost for free. This is complicated because of the recent elimination of CSRs which resulted in "silver loading" in some states but handled differently in others. So in some areas you migh...
by MP123
Tue Apr 23, 2019 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: HSA max with mid year employer switch
Replies: 4
Views: 267

Re: HSA max with mid year employer switch

Assuming you're under 55 and have single health insurance that qualifies, the max you and your employer(s) can contribute to your HSA is $3500. Double for family coverage, $1K extra if 55+.
by MP123
Tue Apr 23, 2019 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: One big end of year tax payment instead of quarterly payments for S-corp?
Replies: 9
Views: 781

Re: One big end of year tax payment instead of quarterly payments for S-corp?

I may be confused. You are correct that we file $0 using form 941 for the first three quarters and then the full amount at the end of the year using 941. Does this sound legit. Form 941 is to report payroll taxes (SS, Medicare) and Federal taxes withheld from payroll. If your S-corp only pays you o...
by MP123
Fri Apr 19, 2019 7:09 pm
Forum: Personal Consumer Issues
Topic: Windows 7 end of support - Jan 14, 2020
Replies: 69
Views: 3715

Re: Windows 7 end of support - Jan 14, 2020

Win10 running on old Win7 hardware seems a little faster than Win7 at least for me. It's certainly not slower or bogged down. I think MSFT learned from the whole Win8.x experience.
by MP123
Fri Apr 19, 2019 6:48 pm
Forum: Personal Consumer Issues
Topic: Windows 7 end of support - Jan 14, 2020
Replies: 69
Views: 3715

Re: Windows 7 end of support - Jan 14, 2020

From what I'm hearing on this thread, door #3 - upgrading system to Win 10, is NOT recommended. So between a rock and a hard place. I very recently upgraded an older Dell with Win7 to Win10. I was somewhat dreading the process having had issues with upgrades in the past but in this case it went per...
by MP123
Wed Apr 17, 2019 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: dropping umbrella and increasing auto liability
Replies: 56
Views: 3384

Re: dropping umbrella and increasing auto liability

UpperNwGuy wrote:
Wed Apr 17, 2019 8:23 pm
Bad idea. I think you should keep the umbrella.
Agreed.

As I understand it the umbrella costs $110/yr more than raising the auto limits but covers so many more liability issues that could come bite you. Seems like money well spent.
by MP123
Wed Apr 17, 2019 9:18 pm
Forum: Personal Consumer Issues
Topic: Priority Express 1-Day might in effect by a 2-Day service?
Replies: 10
Views: 609

Re: Priority Express 1-Day might in effect by a 2-Day service?

I don't have an answer but the FedEx service is usually called "overnight" or "next day". A "1 day" service sounds a little ambiguous. Is that one day in between or a total of one day or what? Of course much depends on the dropoff time too.