Search found 687 matches

by MP123
Sun Sep 23, 2018 11:07 pm
Forum: Personal Consumer Issues
Topic: Seattle and (Victoria OR Vancouver) next week.
Replies: 20
Views: 879

Re: Seattle and (Victoria OR Vancouver) next week.

Traffic is horrendous. I'd rent a car only for the trips out of town, would not keep or attempt to use in town. Uber is your friend. Vancouver is much more diverse and dynamic. Victoria is cutesy and charming. Take your pick. Vancouver is fantastic if you like to eat especially Asian food. Victoria...
by MP123
Fri Sep 21, 2018 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for >2% owner in Scorp
Replies: 16
Views: 965

Re: ACA subsidy for >2% owner in Scorp

The bottom line is that your deduction is the net premium = gross premium - premium tax credit. You should always do this with software if possible. So apparently, you must be below the ACA income limit BEFORE the health insurance premium deduction. That is not correct. You start the iterations wit...
by MP123
Fri Sep 21, 2018 9:50 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for >2% owner in Scorp
Replies: 16
Views: 965

Re: ACA subsidy for >2% owner in Scorp

My s-corp pays my individual health insurance premium and is deductible by the s-corp. However, it is added back on my w2 and included in wages. And then after that you can deduct it on line 29 of your 1040 which would finally reduce your MAGI. Or at least that's my understanding assuming you're a ...
by MP123
Thu Sep 20, 2018 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy question
Replies: 3
Views: 407

Re: ACA subsidy question

Yes, you can take it as a refundable tax credit if your income turns out to be under the cutoff cliff. The only plans eligible for monthly subsidies paid to the insurer or end of year tax refunds of the subsidy are ones bought through the exchange. It sounds like yours is OK, but people that buy pla...
by MP123
Wed Sep 19, 2018 10:55 pm
Forum: Investing - Help with Personal Investments
Topic: Need help with starting solo 401 k - just so I can do Backdoor Roth IRA
Replies: 8
Views: 417

Re: Need help with starting solo 401 k - just so I can do Backdoor Roth IRA

You don't need a CPA to open the solo 401k. I assume you have a sole proprietorship or whatever which would allow you to establish a solo 401k? If so, complete the paperwork that you have sitting on your desk and do it. If you have questions about the paperwork, come back here and we'll help you. I...
by MP123
Tue Sep 18, 2018 10:47 pm
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 205
Views: 13635

Re: What is your single most expensive mistake?

Buying a boat. Bought a new custom $100,000 27' SeaSport Seamaster set up as a dive boat for SE Alaska together with a friend of mine. We had some good adventures on it and sold it a few years later after we both got married for perhaps a $40,000 loss considering all we had in it. The two happiest ...
by MP123
Tue Sep 18, 2018 10:14 pm
Forum: Investing - Help with Personal Investments
Topic: UTMA help.... advice needed for inherited UTMA
Replies: 9
Views: 506

Re: UTMA help.... advice needed for inherited UTMA

livesoft wrote:
Tue Sep 18, 2018 9:38 pm
In any case, I would get it away from UBS myself.
Agreed 100% on UBS.

At age 6 a total US stock market fund or even total world fund would be right. Munis and cash have their place but your daughter needs growth and has a long time to make up any corrections.

Keep it simple.
by MP123
Fri Sep 14, 2018 10:55 pm
Forum: Investing - Help with Personal Investments
Topic: Dividend Riddle
Replies: 17
Views: 1682

Re: Dividend Riddle

Since the annual dividend was 4 cents per share and the 1099-div was also an annual amount you probably don't need to break it down by quarter assuming you held it the whole year. But if the $10,000 dividend came from only one quarter because you bought it in October for example then the amounts abo...
by MP123
Thu Sep 13, 2018 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Why is an EIN needed for i401k?
Replies: 10
Views: 1070

Re: does LLC need new EIN after revoking S Corp election?

Bumping old Topic so that hopefully I won't need to start a new one, I have an LLC that elected S Corp taxation. The LLC has it's own EIN. I'm considering revoking the S Corp election by Dec 31 and on Jan 1 continuing doing business in the name of the same LLC as a disregarded entity. I'd like for ...
by MP123
Wed Sep 12, 2018 9:36 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard is requiring cell phone security codes - problem for international travel (UPDATE)
Replies: 65
Views: 3770

Re: Vanguard is requiring cell phone security codes - problem for international travel

Xyz214 wrote:
Wed Sep 12, 2018 9:25 pm
Register a Google voice number! It's free.
Yes. I just wish there was a better selection of area codes.
by MP123
Mon Sep 10, 2018 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Fine tuning income around the ACA cliff
Replies: 24
Views: 1948

Re: Fine tuning income around the ACA cliff

$3k from the ACA cliff would probably make me a little uncomfortable but it depends on how confident you feel in your projections. The tax savings from a couple grand in Roth conversions would not be worth loosing the subsidies for. Sounds like you have a good plan though as long as you don't miss a...
by MP123
Mon Sep 10, 2018 7:37 pm
Forum: Investing - Theory, News & General
Topic: Medallion Signature guarantee?
Replies: 28
Views: 2291

Re: Medallion Signature guarantee?

MSGs are a royal pain. I once had to fly to another city to get one. Okay, I was there on other business anyway but no local bank would give me one and I had to appear in person at the bank that held the trust account. They seem to be required when retitling or changing names on brokerage accounts. ...
by MP123
Tue Sep 04, 2018 9:50 pm
Forum: Investing - Help with Personal Investments
Topic: botched tax loss harvest
Replies: 7
Views: 893

Re: botched tax loss harvest

Hard to say without all the facts, figures, dates. From what you've said there might be a partial (small?) wash sale that would be disallowed and count against your overall loss on the TLH. Likely not a major problem but post the details and I'm sure someone will tell you to the penny what your tax ...
by MP123
Sat Sep 01, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: ACA premium assistance payback deductibility
Replies: 6
Views: 655

Re: ACA premium assistance payback deductibility

Good question. You can certainly deduct your health insurance premiums as self employed so I'd get those switched to the unsubsidized premiums soon. I'm not sure that premium tax credits (PTC) that you have to refund because you go over the income cliff qualify for that deduction though. They may bu...
by MP123
Thu Aug 30, 2018 9:09 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone investing in Municipal bonds ?
Replies: 46
Views: 3150

Re: Anyone investing in Municipal bonds ?

Ditto VWITX :happy Just out of curiosity, why not VWAHX ? High yield munis (and corporates) don't get much support around here. Most seem to feel that taking risk on the equity side is a better move. But if you're in an income/asset situation that puts you into a high tax bracket it seems to me tha...
by MP123
Thu Aug 30, 2018 8:12 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone investing in Municipal bonds ?
Replies: 46
Views: 3150

Re: Anyone investing in Municipal bonds ?

VWITX is popular here. Vanguard also has some state specific funds that will be state tax exempt as well as federal tax exempt if you live in them. Of course then you're just investing in a single state.

If you're in a high tax bracket and need bonds in taxable munis are a good way to go.
by MP123
Wed Aug 29, 2018 9:50 pm
Forum: Investing - Theory, News & General
Topic: Tax consequence of BND really that bad in taxable?
Replies: 24
Views: 2117

Re: Tax consequence of BND really that bad in taxable?

The SEC yield of BND/VBTLX is 3.12. With CD interest rates getting close to that percent, does the same rule of thumb apply, e.g. CDs not in taxable accounts as the interest is directly taxable? In the high tax brackets where 40%+ of the income is going to taxes you really have to look at the rates...
by MP123
Wed Aug 29, 2018 7:36 pm
Forum: Investing - Theory, News & General
Topic: Tax consequence of BND really that bad in taxable?
Replies: 24
Views: 2117

Re: Tax consequence of BND really that bad in taxable?

In your situation tax exempt bonds in your taxable account would seem to make the most sense.

Or are you concerned with potential risks?
by MP123
Mon Aug 27, 2018 8:58 pm
Forum: Investing - Help with Personal Investments
Topic: S-corporation question related to retirement
Replies: 6
Views: 408

Re: S-corporation question related to retirement

In addition to the above you can defer an extra $6,000 of salary as a catchup contribution if you are over 50.

For a sole owner /employee scorp the i401 lets you put away a lot more than a sep-ira with only very minimally more paperwork.
by MP123
Mon Aug 27, 2018 7:41 pm
Forum: Investing - Help with Personal Investments
Topic: S-corporation question related to retirement
Replies: 6
Views: 408

Re: S-corporation question related to retirement

In many cases the i401k would be a better choice for an scorp owner. It allows you to defer salary as well as make the same 25% contribution as the sep-ira.

Do you have employees other than yourself and your spouse?
by MP123
Thu Aug 23, 2018 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Real estate in SF bay area
Replies: 26
Views: 2099

Re: Real estate in SF bay area

ADower wrote:
Thu Aug 23, 2018 12:44 pm
However, we also think this is a opportunity that will not come around again (possibly owning part of a home in the SF Bay Area for 500k).
I think you should take a deep breath and rethink this.
by MP123
Mon Aug 20, 2018 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Can an already retired 54 y.o. open a HSA?
Replies: 3
Views: 579

Re: Can an already retired 54 y.o. open a HSA?

There are no income or employment requirements to open or contribute to an
HSA but you can't be on Medicare and must have a high deductible health care plan that qualifies (not all do).

For 2019 the single limit is $3500.

You could try HSABank.com, there are many other custodians too.
by MP123
Thu Aug 16, 2018 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Feedback requested on plan to lower income to qualify for ACA Subsidy
Replies: 17
Views: 1290

Re: Feedback requested on plan to lower income to qualify for ACA Subsidy

If you have an FSA at work you likely can't make a HSA contribution.
by MP123
Thu Aug 16, 2018 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Feedback requested on plan to lower income to qualify for ACA Subsidy
Replies: 17
Views: 1290

Re: Feedback requested on plan to lower income to qualify for ACA Subsidy

For a household of three I believe the ACA cliff for 2019 is $83,120 ($20,780 FPL x 400%) so that should give you some breathing room.

The $64k cliff (roughly) is for two.
by MP123
Wed Aug 15, 2018 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: HSAs [Questions on qualified medical expense, contributions]
Replies: 13
Views: 1613

Re: HSAs

Spirit rider is correct that medigap premiums are not HSA eligible. I missed that in your initial question. Part B and D are however.
by MP123
Tue Aug 14, 2018 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: HSAs [Questions on qualified medical expense, contributions]
Replies: 13
Views: 1613

Re: HSAs

Yes to both of your questions for HSA purposes.

But note that if you are paying Medicare premiums you likely aren't eligible to contribute to an HSA.
by MP123
Fri Jul 27, 2018 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: 529 plan-is mandatory orientation fee qualified?
Replies: 16
Views: 2115

Re: 529 plan-is mandatory orientation fee qualified?

Most schools have fees like that in addition to tuition. They are qualified educational expenses for 529 purposes. Room and board though can be limited to what the school charges (if they are living off campus).
by MP123
Wed Jul 25, 2018 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Online savings accounts for BUSINESS? (not personal)
Replies: 5
Views: 442

Re: Online savings accounts for BUSINESS? (not personal)

We use a business Money Market fund for operating reserves. You're quite right that rates are much lower than for personal accounts but it's the best way to go since the money is an asset of the S-corp and you want to keep it straight. You'll need to give them an EIN for reporting of the interest fo...
by MP123
Tue Jul 24, 2018 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Can I get a mortgage if retiring?
Replies: 37
Views: 5267

Re: Can I get a mortgage if retiring?

I'm a lender at one of Chase/wf/boa. ... Written over 200 conventional mortgages in the last 12 months... Written Zero asset depletion loans. Very hard to get those done. Need several million to even have a shot. For a conventional investment property loan you need 20% down and debt to income ratio...
by MP123
Tue Jul 24, 2018 7:55 pm
Forum: Investing - Theory, News & General
Topic: Looks like 2019 HSA family limits raised to $7000
Replies: 25
Views: 2738

Re: Looks like 2019 HSA family limits raised to $7000

And don't forget the additional $1,000 catch up contribution if you or your eligible spouse are over 55. Too bad that's not indexed for inflation too but take what you can get I guess. That is 1000 for each, 2,000 if both are over 55. Correct. But each catch up needs to go into the respective spous...
by MP123
Tue Jul 24, 2018 7:16 pm
Forum: Investing - Theory, News & General
Topic: Looks like 2019 HSA family limits raised to $7000
Replies: 25
Views: 2738

Re: Looks like 2019 HSA family limits raised to $7000

And don't forget the additional $1,000 catch up contribution if you or your eligible spouse are over 55.

Too bad that's not indexed for inflation too but take what you can get I guess.
by MP123
Mon Jul 23, 2018 7:26 pm
Forum: Investing - Help with Personal Investments
Topic: Bonds in taxable question
Replies: 4
Views: 554

Re: Bonds in taxable question

If you're trying to "roll your own" tax efficient Wellesley fund you might consider VTV, VYM, or even VV for the equity portion. Nothing against VT but it's really quite different than the smallish range of high divided large cap value stocks in Wellesley. And then use intermediate term tax exempt f...
by MP123
Sun Jul 22, 2018 11:25 am
Forum: Personal Consumer Issues
Topic: Sail boat budget
Replies: 13
Views: 1977

Re: Sail boat budget

One of the cardinal rules of boat ownership is that you never add up all the associated costs. And if by some chance you do under no circumstances should you share info that with your spouse. :happy Having owned a 35' sailboat for many years I'd guess your annual expenses would be in the $10-15k/yr ...
by MP123
Wed Jun 20, 2018 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Contributions - Clarifying Questions
Replies: 11
Views: 798

Re: HSA Contributions - Clarifying Questions

The HSA contribution ends up as a deduction on 1040 line 25 so they aren't taxed on it. The LLC wouldn't have to make an HSA contribution to the non-owner employee. In fact, the contribution wouldn't need to come from the LLC at all if there were funds available elsewhere. Thanks, I was under the a...
by MP123
Wed Jun 20, 2018 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Contributions - Clarifying Questions
Replies: 11
Views: 798

Re: HSA Contributions - Clarifying Questions

The HSA contribution ends up as a deduction on 1040 line 25 so they aren't taxed on it.

The LLC wouldn't have to make an HSA contribution to the non-owner employee. In fact, the contribution wouldn't need to come from the LLC at all if there were funds available elsewhere.
by MP123
Wed Jun 20, 2018 12:46 pm
Forum: Investing - Help with Personal Investments
Topic: Considering adding VWALX; pros-cons
Replies: 15
Views: 1912

Re: Considering adding VWALX; pros-cons

I am ok with back testing in certain scenarios. Look and see how VWALX did during the 2007 to 2009/10 market swoons. Total return for VWALX in 2008 was -10.39% vs VTI (total stock market) at -36.97%. So certainly not as stable as a savings account but not really anywhere near as volatile as stocks ...
by MP123
Tue Jun 19, 2018 11:20 pm
Forum: Investing - Theory, News & General
Topic: General Electric booted from Dow Jones Industrial Average
Replies: 52
Views: 6516

Re: General Electric booted from Dow Jones Industrial Average

But why Walgreens and not say Amazon, a company with a larger footprint, which may well upend Walgreens in a few years if it decides to enter the pharmacy retail space. And perhaps DJIA should be rebranded as DJA since there are not a lot of industrial components left in the average. Companies chos...
by MP123
Tue Jun 19, 2018 9:55 pm
Forum: Personal Consumer Issues
Topic: Trip to the Steens Mountains in Oregon
Replies: 13
Views: 1223

Re: Trip to the Steens Mountains in Oregon

TravelGeek wrote:
Tue Jun 19, 2018 9:27 pm
Oreamnos wrote:
Tue Jun 19, 2018 6:13 pm
Fantastic area, but do not underestimate how remote it is.
Trips like these are why I have AAA Plus with 100 mile towing. Not that I have needed it so far, but...
You might want the unlimited plan out there. :happy
by MP123
Tue Jun 19, 2018 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: I don't trust my own estimate of expenses
Replies: 29
Views: 2568

Re: I don't trust my own estimate of expenses

As mentioned above Quicken does this very well. After some initial setup you'll know exactly how much you spend on what to the cent. You can download from most banks and credit cards too so no need to rekey everything. This may open your eyes a bit too - I spend HOW much on that? Guestimates might b...
by MP123
Tue Jun 19, 2018 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Retire at 50: Should I?
Replies: 93
Views: 12819

Re: Retire at 50: Should I?

If I aim for $64,000 of income through dividends, Roth conversions and capital gains, I think my federal taxes will be about $4500. How did you come up with this estimate? You should be able to manage your fed taxes down $0 at this income level That was from a the taxfoundation.org online calculato...
by MP123
Mon Jun 18, 2018 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Retire at 50: Should I?
Replies: 93
Views: 12819

Re: Retire at 50: Should I?

With the usual caveats about unknown future health care expenses I'd say it looks good.

As I understand your plan you aren't including SS benefits or (eventual) Medicare or even ACA subsidies which makes it all the stronger. Likely you'll be getting at least some of that I think.
by MP123
Sun Jun 17, 2018 10:53 pm
Forum: Personal Consumer Issues
Topic: how to make friends in new location?
Replies: 96
Views: 8774

Re: how to make friends in new location?

I meet many people walking my dog. Great conversations of all kinds almost every single day. My advice -- wait for it -- Get a dog! Added: But if you get a dog, be a good citizen and clean up after it and don't let it pee on someone's grass unless they approve. ;) yep! Dog is already in the works G...
by MP123
Thu Jun 14, 2018 8:51 pm
Forum: Personal Consumer Issues
Topic: Long Weekend in November - NOLA, Austin, Other
Replies: 26
Views: 1432

Re: Long Weekend in November - NOLA, Austin, Other

NOLA is a great time. Commanders, ACME oyster, Cafe du Monde, Garden district, and so on. If you're looking for food, beer, history, and culture it's for you. The Quarter at night is kind of like a frat party in Vegas, easily avoided if it's not your thing. I've never felt unsafe visiting NOLA, even...
by MP123
Thu Jun 14, 2018 8:11 pm
Forum: Personal Consumer Issues
Topic: Non-alcoholic drinks for wedding
Replies: 79
Views: 4074

Re: Non-alcoholic drinks for wedding

Is this an afternoon or evening reception? What food are you serving?

I'd be sure to have coffee, tea (iced), and sparking/flavored water. Probably don't need to go much beyond that if it's dry anyway.
by MP123
Thu Jun 14, 2018 5:18 pm
Forum: Investing - Help with Personal Investments
Topic: 401k & account with 1 Robo-advisor: Wash sale chance?
Replies: 22
Views: 1219

Re: 401k & account with 1 Robo-advisor: Wash sale chance?

Three would make it even worse. If Firm 1 and Firm 2 TLH a security and then Firm 3 buys it within 30 days you'd have two wash sales to keep track of. The problem here is that none of the brokers know what's going on in your accounts at other brokers and so that won't get factored into their "Robo" ...
by MP123
Thu Jun 14, 2018 2:41 pm
Forum: Personal Consumer Issues
Topic: Drive from Phoenix to San Diego
Replies: 42
Views: 2885

Re: Drive from Phoenix to San Diego

HOT means 110-120 by the way.

I'm with the others, just go to San Diego.
by MP123
Wed Jun 13, 2018 10:18 pm
Forum: Investing - Theory, News & General
Topic: Vanguard - You'll need to sign up for security codes soon
Replies: 140
Views: 17940

Re: Vaguard - You'll need to sign up for security codes soon

Vanguard needs to really add TOTP software security tokens instead of just SMS. +1 Vanguard needs to support TOTP, and they need to disallow bypassing a security key with SMS. YES! YES! YES! PLEASE Vanguard! I've written to Vanguard months ago requesting they move to using TOTP and removing SMS. I ...
by MP123
Wed Jun 13, 2018 4:16 pm
Forum: Investing - Help with Personal Investments
Topic: Convert Taxable account to Roth IRA to avoid wash sale?
Replies: 14
Views: 709

Re: Convert Taxable account to Roth IRA to avoid wash sale?

Be aware that you can have a wash sale in your IRA too and that's bad because there's no way for you to increase the basis of the replacement shares . In a taxable account you can eventually get to take the disallowed loss from the wash sale, not so in an IRA. Could you please elaborate on the abov...
by MP123
Wed Jun 13, 2018 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Forbes: Millennials Aren't Having Kids Heres Why That's a Problem for Baby Boomer Real Estate and Retirement
Replies: 74
Views: 7462

Re: Forbes: Millennials Aren't Having Kids Heres Why That's a Problem for Baby Boomer Real Estate and Retirement

It's worth mentioning that Millennials are projected to inherit something like $30 trillion dollars in assets from aging Boomers.

I wonder if that might change some of their plans for housing, kids, and so on?
by MP123
Wed Jun 13, 2018 1:45 pm
Forum: Investing - Help with Personal Investments
Topic: Convert Taxable account to Roth IRA to avoid wash sale?
Replies: 14
Views: 709

Re: Convert Taxable account to Roth IRA to avoid wash sale?

It seems to me that having two different parties doing robo-TLH for you would be likely to generate a wash sale. I'm not a customer at either Betterment or Wealthfront but I assume each can avoid wash sales on their own trades so it would be good to consolidate to one or the other. Be aware that you...