Search found 794 matches

by MP123
Fri Dec 14, 2018 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Forgoing health insurance
Replies: 98
Views: 3621

Re: Forgoing health insurance

The good news is that lack of health insurance doesn't mean lack of health care. You can pay as you go, or if you have a real emergency they have to treat you anyway. You'll probably be fine. Absolutely untrue; If you go into an ER, they will splint your broken leg, but they aren't going to give yo...
by MP123
Thu Dec 13, 2018 11:02 pm
Forum: Personal Consumer Issues
Topic: How to evaluate quality of health insurance options
Replies: 12
Views: 655

Re: How to evaluate quality of health insurance options

One and two star reviews are common for health insurance companies. It's often hard to tell if they're warranted or just general unhappiness with someone's health situation. I wouldn't put much weight there. I agree with the above that a PPO will give you much more flexibility with who you can see a...
by MP123
Thu Dec 13, 2018 10:38 pm
Forum: Investing - Help with Personal Investments
Topic: Being locked out of my account and "research team" will contact me in 72 hours
Replies: 33
Views: 3926

Re: Being locked out of my account and "research team" will contact me in 72 hours

The rep seemed to indicate that the person tried different passwords and different usernames, not the same username with a lot of passwords all at once. What's odd is that I don't use that username often and the password is unique, which is the scary part. Now the username isn't used anywhere else ...
by MP123
Wed Dec 12, 2018 9:41 pm
Forum: Investing - Help with Personal Investments
Topic: Being locked out of my account and "research team" will contact me in 72 hours
Replies: 33
Views: 3926

Re: Being locked out of my account and "research team" will contact me in 72 hours

Are you not able to do any transactions on the account at all even over the phone? Or just not log in to the website?
by MP123
Tue Dec 11, 2018 11:36 pm
Forum: Personal Consumer Issues
Topic: LED light bulbs
Replies: 127
Views: 15306

Re: LED light bulbs

* What to do with my incandescents? Didn't want to throw them out. When my stock of 100W bulbs is exhausted I'll need to get a space heater (which will probably meaning throwing out a perfectly good exhaust fan. And thus ironically using up all the electricity the LEDs are saving. :D But I complete...
by MP123
Mon Dec 10, 2018 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: The new 1040 is certainly different
Replies: 10
Views: 2183

The new 1040 is certainly different

I just downloaded TurboTax for 2018 and took a look. Most of the supporting schedules seem about the same but the 1040 itself is much different and relies on a new set of schedules (1,2,3...) in between. From 2018 on the tax line numbers from the 1040 mentioned in posts on this site are pretty much ...
by MP123
Sun Dec 09, 2018 8:18 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable or Tax-Exempt Bonds
Replies: 20
Views: 1412

Re: Taxable or Tax-Exempt Bonds

Welcome! Did you include state taxes (if any) in your calculations? Tax exempt bonds would likely be better if you were in the higher brackets say 32% or higher where you might also be subject to the additional 3.8% NIIT tax on top of that and quite possibly a high state tax too. In your case you mi...
by MP123
Fri Dec 07, 2018 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance for FIRE [Financial Independence Retire Early]
Replies: 83
Views: 6353

Re: Health insurance for FIRE

If you had enough to retire today except for the healthcare cost Maybe I'm not seeing something. If someone had enough to retire today "except for X" (whether that's health care, housing, post-retirement plans like travel, whatever), then they don't have enough to retire. There's not much to discus...
by MP123
Fri Dec 07, 2018 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: My ACA premiums went up 128% in 2019 anybody else get hit with big increases
Replies: 21
Views: 3359

Re: My ACA premiums went up 128% in 2019 anybody else get hit with big increases

At a pure data level, the Kaiser Family Foundation has recently published a tool that shows "How ACA Marketplace Premiums Are Changing by County in 2019". The exact configurations of age/income/location/plan type shown may or may not come close to reflecting OP's exact situation. But it should give...
by MP123
Thu Dec 06, 2018 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: My ACA premiums went up 128% in 2019 anybody else get hit with big increases
Replies: 21
Views: 3359

Re: My ACA premiums went up 128% in 2019 anybody else get hit with big increases

Your net premiums after subsidies (premium tax credits) might have gone up 128% but there has been no cut in the subsidy formula by anyone. Your income may have increased, you're a year older, the premiums for the second lowest cost silver plan in your area may have decreased, and so on. It's a comp...
by MP123
Thu Dec 06, 2018 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance for FIRE [Financial Independence Retire Early]
Replies: 83
Views: 6353

Re: Health insurance for FIRE

Does it cover preexisting conditions? No. So a medical issue in month 5 that needed ongoing care would be a major problem for example. In the bad old days (pre-ACA) insurers used to go through applications after the fact and look for reasons to deny claims. I'd be pretty nervous about that still wi...
by MP123
Thu Dec 06, 2018 8:19 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance for FIRE [Financial Independence Retire Early]
Replies: 83
Views: 6353

Re: Health insurance for FIRE

As I prepared to retire, I looked at the following possibilities (prices are for married couple): 1. COBRA 2. ACA 3. Medicaid Expansion 4. Short term policy 5. Medishare 1. $8000 a year. Pretty steep for a moderate income person in LCOL area. 2. My retirement payout (sick bank, vacation) exceeds AC...
by MP123
Wed Dec 05, 2018 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Health insurance for FIRE [Financial Independence Retire Early]
Replies: 83
Views: 6353

Re: Health insurance for FIRE

When looking at premiums you should look ahead too. If you're young-ish and looking at FIRE see what your current costs would be if you were 10 years older. Just test a different birthday on the exchange. In almost all states (other than NY and VT to my knowledge) ACA premiums are indexed to age and...
by MP123
Tue Dec 04, 2018 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: HSA question
Replies: 13
Views: 1445

Re: HSA question

ras4250 wrote:
Tue Dec 04, 2018 11:26 am
Usually if you have the FSA you can’t contribute to the HSA.
This is correct.

Also, if your health plan doesn't specifically say "HSA" in the name of the plan it almost certainly isn't eligible.
by MP123
Sun Dec 02, 2018 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: employer contribution to solo 401k limit for spouse
Replies: 4
Views: 411

Re: employer contribution to solo 401k limit for spouse

Isn't it a 20% limitation for unincorporated businesses? Yes, for the "employer" match. 25% is for corporations because of the way self employment tax figures in. Your schedule C income is what this is based on. The "employee" part is maximum $18,500 plus $6,000 if over 50 for 2018. Total not to ex...
by MP123
Sat Dec 01, 2018 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Small business health insurance funding
Replies: 10
Views: 745

Re: Small business health insurance funding

Thank you all for advice this far. Company is an S-corp with me as 100% owner. Then the 50% of your health insurance that the company pays would be added to your W2 box 1 wages (but not box 3 or 5) and be included as Officer's compensation on the 1120s. You can then deduct that amount along with th...
by MP123
Fri Nov 30, 2018 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: Small business health insurance funding
Replies: 10
Views: 745

Re: Small business health insurance funding

How is your business set up? Corporation, S-corp (are you a >2% shareholder) , LLC? From what I understand of your situation it sounds like you would qualify for the self employed health insurance deduction for your family's entire premium on your 1040. The premiums that you pay for your employees a...
by MP123
Thu Nov 29, 2018 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Help/Tax Expert Needed
Replies: 60
Views: 1763

Re: HSA Help/Tax Expert Needed

The issue is the FSA. “A health FSA that reimburses all qualified § 213(d) medical expenses without other restrictions is a health plan that constitutes other coverage.” https://www.irs.gov/irb/2005-49_IRB#d0e1151 You cannot contribute to an HSA even if you have a HDHP if you have “other coverage.”...
by MP123
Thu Nov 29, 2018 9:51 pm
Forum: Investing - Help with Personal Investments
Topic: Question on S corp profit share funding of solo 401k
Replies: 11
Views: 434

Re: Question on S corp profit share funding of solo 401k

It sounds as if the online savings account is in your name rather than the business? This is tempting because the rates are usually much better than for business accounts. But the problem is that you'd be distributing funds to yourself and then later reinvesting them in the S-corp to pay to the 401k...
by MP123
Wed Nov 28, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Entity formation for commercial real estate holdings
Replies: 2
Views: 279

Re: Entity formation for commercial real estate holdings

Without knowing the details of your situation as you describe it I'd say it's likely that this is passive income and not subject to self employment tax. But that's not necessarily a good thing because it also limits or eliminates deductions like losses (factoring depreciation) and others. Not sure h...
by MP123
Tue Nov 27, 2018 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k and a household employee?
Replies: 6
Views: 582

Re: Solo 401k and a household employee?

It's easy to get an EIN from the IRS online. Are you sure they won't give her a different one for her business instead of as a household employer? I think there may be an EIN type just for i401k too if you don't already have one for the business. It's possible reusing the same one might cause questi...
by MP123
Tue Nov 27, 2018 10:21 pm
Forum: Personal Consumer Issues
Topic: Any Refrigerator Repair Specialists in the House?
Replies: 17
Views: 1651

Re: Any Refrigerator Repair Specialists in the House?

Checking the refrigerator mentioned above this is a side by side and you're concerned about the outward facing strip of the wall which separates the freezer from the fridge?

How's the interior temperature now?
by MP123
Thu Nov 22, 2018 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: HSA contribution limit question
Replies: 11
Views: 1481

Re: HSA contribution limit question

As a result, the entire family (me + kids) is on his new health plan now. His new plan is also HDHP, but with no employer assistance to deduct or support HSA contributions. Is the new health plan an HSA-eligible HDHP? Not all are. If so, your combined limit is $6900. If not, it's $5750 (10 months)....
by MP123
Tue Nov 20, 2018 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Documenting High-Deductible Health Plan (HDHP) for IRS
Replies: 10
Views: 1137

Re: Documenting High-Deductible Health Plan (HDHP) for IRS

rterickson wrote:
Tue Nov 20, 2018 3:40 pm
Your HSA custodian will report your contributions to the IRS and send you a 5498-SA in May 2019. Keep it for your records, you do not need to file it.
This is certainly true but the 5498-SA doesn't prove that you were eligible to make the contribution, just that you made it.
by MP123
Mon Nov 19, 2018 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: HSA option only has in-network benefits, open enrollment dilemma
Replies: 7
Views: 858

Re: HSA option only has in-network benefits, open enrollment dilemma

In theory, ACA compliant plans have to cover you at in network rates for emergency care even if you are OON. But you're still open to balance billing from the providers for amounts that exceed that in many states. How that all works out is anyone's guess depending on the situation, emergency, and so...
by MP123
Mon Nov 19, 2018 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Documenting High-Deductible Health Plan (HDHP) for IRS
Replies: 10
Views: 1137

Re: Documenting High-Deductible Health Plan (HDHP) for IRS

I don't have a good answer but will add that you also need to have no other coverage, not be on Medicare, and not be a dependent on someone else's taxes to be HSA eligible. So there's more to it than just having the HDHP and it may be difficult to document that you have no other coverage for example...
by MP123
Sun Nov 18, 2018 11:55 pm
Forum: Personal Consumer Issues
Topic: Good Modern Science Fiction
Replies: 330
Views: 47438

Re: Good Modern Science Fiction

The Mote in God's Eye , by Larry Niven and Jerry Pournelle. I don't know how I missed this one. It's well written and keeps me interested. The reviews say "thought provoking" and I would agree to some extent. If you're enjoying Larry Niven Ringworld is his classic work. Also Lucifer's Hammer which ...
by MP123
Sun Nov 18, 2018 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: ACA cliff and MAGI; to ACA or Cobra?
Replies: 9
Views: 795

Re: ACA cliff and MAGI; to ACA or Cobra?

Wait, a PPO plan is HSA eligible? Yes, there can be HSA compatible PPO plans. The PPO describes the provider network which is generally quite broad compared to an EPO or HMO. In my area there used to be one. Now there are no PPO plans of any kind and only one HSA compatible plan with Kaiser (HMO). ...
by MP123
Thu Nov 15, 2018 11:40 pm
Forum: Personal Finance (Not Investing)
Topic: Married HDHP; one HSA or two?
Replies: 5
Views: 744

Re: Married HDHP; one HSA or two?

If your employer makes a contribution and your spouse's doesn't and you're both under 55 (so no catch up contribution possible) then just using your plan seems simplest. Assuming you'll max it out. You can keep both open just not contribute.

And welcome!
by MP123
Wed Nov 14, 2018 12:15 am
Forum: Personal Finance (Not Investing)
Topic: rule of thumb for using HSA funds?
Replies: 40
Views: 3389

Re: rule of thumb for using HSA funds?

I am not sure i understand the concern about keeping receipts. You can reimburse yourself from the HSA for any qualified expenses that you paid with other funds. So you can pay medical expenses with cash, save the receipts (for the IRS) and then reimburse yourself from the HSA when and if it makes ...
by MP123
Tue Nov 13, 2018 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle forced HSA distribution
Replies: 4
Views: 548

Re: How to handle forced HSA distribution

So this must be a dividend payable but not received by the time you closed the HSA?

I agree with the above about keeping the receipt but there's not much medical related you can get for $1.13 anymore, have fun shopping! :happy
by MP123
Mon Nov 12, 2018 9:14 pm
Forum: Investing - Help with Personal Investments
Topic: TLH Timing - IXUS to VXUS
Replies: 7
Views: 530

Re: TLH Timing - IXUS to VXUS

You'll likely be getting a qualified dividend and also a capital gain distribution from both because it's the end of the year. The Wiki is correct about avoiding the distributions if possible (because they are taxable although at preferential rates) but be aware there is generally a record date and ...
by MP123
Sun Nov 11, 2018 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Should we open 1 or 2 HSAs?
Replies: 10
Views: 900

Re: Should we open 1 or 2 HSAs?

You could each have an HSA: contribute $7900 to one, and $1000 to the other. Or any combination totalling $8900 as long as one account gets at least $1000 for the catchup contribution. You can pay for each other's expenses (and any dependents that are on your health policy) from either account so no...
by MP123
Sat Nov 10, 2018 11:04 pm
Forum: Personal Consumer Issues
Topic: Quick Turnaround for Passport Applications (No Payment for Expedited Processing)
Replies: 18
Views: 1658

Re: Quick Turnaround for Passport Applications (No Payment for Expedited Processing)

I did my most recent renewal with FedEx and requested expedited service. I got my new passport back the same week, crazy fast.

Had I known I would have skipped the expedited.

I think they've made great improvements lately, in the past regular renewals could take months.
by MP123
Sat Nov 10, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Pay capital gains taxes now or defer till 219?
Replies: 7
Views: 1182

Re: Pay capital gains taxes now or defer till 219?

I'm not sure of the overall picture but would this additional sale put you into the 20% ltcg bracket for 2018? And/or put you in a range subject to the additional 3.8% NIIT tax on the sale?

Perhaps you're already there but it's something to consider. You might owe less tax if spread over two years.
by MP123
Wed Nov 07, 2018 11:46 pm
Forum: Investing - Theory, News & General
Topic: China Still An Emerging Market?
Replies: 24
Views: 2063

Re: China Still An Emerging Market?

Are there any Emerging Markets ex-China funds?

Most EM funds seem to be heavily concentrated in China.
by MP123
Wed Nov 07, 2018 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Amazon says TurboTax 2018 will be released November 12
Replies: 85
Views: 9882

Re: Amazon says TurboTax 2018 will be released November 12

last year used home & business - tempted this year to just get deluxe. Receive income from S corp main job both W2 and K-1, also income via distribution from a partnership, small sole proprietorship (with a solo 401k). But most deductible expenses are handled on the S corp 1120S (which I don't comp...
by MP123
Wed Nov 07, 2018 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8291

Re: 1/3 of Baby Boomers have no retirement savings...

dknightd wrote:
Wed Nov 07, 2018 8:57 pm
1/3 of baby boomers probably do not need to save for retirement
This recent thread suggests that's not far from the truth.

viewtopic.php?t=260050

Of course you might be in the other 2/3...
by MP123
Tue Nov 06, 2018 11:20 pm
Forum: Personal Consumer Issues
Topic: Paper or Paperless? How and what financial records do you keep?
Replies: 50
Views: 3691

Re: Paper or Paperless? How and what financial records do you keep?

I found some 30 year old paper tax returns recently, good times remembering the day! Dot matrix printers anyone? But with Quicken, TurboTax, online banking, credit cards, and so on you probably don't need any printed paper records anymore. In fact your entire life's records could probably fit on a m...
by MP123
Mon Nov 05, 2018 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Need your guidance in selecting a medical insurance plan
Replies: 7
Views: 828

Re: Need your guidance in selecting a medical insurance plan

Thanks MP123 for your input. From your response it seems Kaiser does not have a provision for coverage in Texas. His original policy is through Kaiser as he lived in CA before coming for his studies to Austin. The impression given to his parents was that emergency coverage would be provided in Texa...
by MP123
Sun Nov 04, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Deducting Health Insurance Obtained through PEO
Replies: 5
Views: 504

Re: Deducting Health Insurance Obtained through PEO

Yes, it sounds a little complicated. If you're paid on a K-1 you must be a partner or shareholder of the PEO. In general that would allow you to take the 1040 line 29 deduction for self employed health insurance assuming the insurance policy was in your name (and reimbursed by the business) or in th...
by MP123
Sun Nov 04, 2018 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Deducting Health Insurance Obtained through PEO
Replies: 5
Views: 504

Re: Deducting Health Insurance Obtained through PEO

We'd need more information to say for sure but if you are an employee of record for the PEO (Professional Employer Organization) I wouldn't assume that you can take the self employed deduction. But you say you're paid on a K-1? Or do you mean a 1099? So you're not an employee? Is the policy in your ...
by MP123
Sun Nov 04, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Need your guidance in selecting a medical insurance plan
Replies: 7
Views: 828

Re: Need your guidance in selecting a medical insurance plan

Nationwide PPO plans are hard to find in the individual market in many states. You might call BCBS and ask them. I also have Kaiser and agree with Watty's summary above. Kaiser lets it's members go to Kaiser facilities in any of their service areas which includes WA and CA but not TX. So Kaiser migh...
by MP123
Sat Nov 03, 2018 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 5947

Re: Deal fell through and didn't get escrow money.....

What you've described is normal in every state I'm familiar with but it doesn't have anything to do with the mortgage crisis, it definitely pre-dates that. Your friend the seller may have been able to say that the earnest money would be non-refundable if the contingency wasn't satisfied in a counter...
by MP123
Fri Nov 02, 2018 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: New ACA 2018 Dependent Income Rules?
Replies: 13
Views: 854

Re: New ACA 2018 Dependent Income Rules?

You're certainly allowed to file even if you aren't required to. This might be advantageous in cases like yours or people that want to take education credits or other refundable tax situations. What I'm not sure of is whether your daughters income will be reduced to zero on your or her return (consi...
by MP123
Fri Nov 02, 2018 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: New ACA 2018 Dependent Income Rules?
Replies: 13
Views: 854

Re: New ACA 2018 Dependent Income Rules

This is an interesting question and the opposite of what is often asked on here. As I understand it you want to include your dependent daughter's income on your (or her, incuded in your household) 1040 to make sure you're over the lower ACA cliff that falls into Medicaid? Does your daughter have onl...
by MP123
Fri Nov 02, 2018 7:36 pm
Forum: Investing - Theory, News & General
Topic: When do YOU pull the trigger for TLH? [Tax Loss Harvesting]
Replies: 53
Views: 4020

Re: When do YOU pull the trigger for TLH? [Tax Loss Harvesting]

Rarely, if ever, do I recommend TLH. If you think about it, all you’re doing is reducing your basis. So you’re really just kicking the can down the road, because when you sell that asset in the future, you’ll have a higher gain, and wind up paying back all that money that you thought you saved. The...
by MP123
Thu Nov 01, 2018 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Falling off the ACA subsidy cliff
Replies: 62
Views: 5065

Re: Falling off the ACA subsidy cliff

Whoever voted for the cliff were insane (IMO). So you could earn $1 and lose $12,000+?? Most things in the tax code have phaseouts, e.g. a 4-1 ramp down would make more sense. You could earn one extra $1 and lose $25k+ if you go over the cliff and are older or have a family. To be fair though the s...
by MP123
Thu Nov 01, 2018 7:37 pm
Forum: Personal Consumer Issues
Topic: Do capital losses count against ACA MAGI?
Replies: 14
Views: 1785

Re: Do capital losses count against ACA MAGI?

I'm assuming the MAGI ACA calculation isn't capturing the capital gain gross of the carry forward. Make sense? That's correct. ACA looks at MAGI from your 1040 with any municipal bond income added back in. Capital loss carry forward, suspended losses, and similar don't factor in (except to the exte...
by MP123
Wed Oct 31, 2018 9:59 pm
Forum: Personal Consumer Issues
Topic: What does the BH community do with their pets when they travel?
Replies: 78
Views: 6445

Re: What does the BH community do with their pets when they travel?

BogleMelon wrote:
Wed Oct 31, 2018 9:47 pm
English is my second language. What do you guys mean by kennels? I tried googling it with no luck! :oops:
Like a stable for horses, but for dogs :wink: