Search found 309 matches

by cas
Fri Sep 21, 2018 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Hubby soon to be laid off
Replies: 73
Views: 6924

Re: Hubby soon to be laid off

My husband is 65 and could now sign up for medicare, but we now contribute to HSA- How will this affect it? You are correct - there is weirdness about contributing to HSAs and Medicare. I'm not up on it, but with your husband signing up for Medicare after he turned 65 (since he was still working), ...
by cas
Wed Sep 19, 2018 6:36 pm
Forum: Personal Consumer Issues
Topic: Should I bother meeting with a Chase Private Client Rep
Replies: 44
Views: 3306

Re: Should I bother meeting with a Chase Private Client Rep

As part of your decision on whether to go, you may want to read this SEC news release (from December 2015) about the $300 million fine JP Morgan Chase (including a subset of Chase Private Client advisors who were bound by fiduciary duty - most aren't) had to pay for breach of fiduciary duty. (A $300...
by cas
Wed Sep 19, 2018 7:45 am
Forum: Investing - Help with Personal Investments
Topic: Organizing an unplanned portfolio and dealing with LTCG
Replies: 14
Views: 1233

Re: Organizing an unplanned portfolio and dealing with LTCG

Not 100% sure why you are talking about penalties in relation to safe harbor. You can just make estimated tax payments using the proceeds of your sale. That was just related to any 2018 sales as I have missed the dates for the first three estimated tax payments and might not meet 110% with withhold...
by cas
Tue Sep 18, 2018 6:10 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Personal Advisor - .30%
Replies: 23
Views: 3077

Re: Vanguard Personal Advisor - .33%

To answer the specific question I think you are asking, I have Flagship status at Vanguard, and I don't have access to most of the specific features you mention below. See details in red. I'm not sure how much of what I use is part of the Advisor service or anyone could get it free. I call them when...
by cas
Tue Sep 18, 2018 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Tax Question - Roth Conversion
Replies: 3
Views: 362

Re: Tax Question - Roth Conversion

Watch out for things that are based on AGI rather than taxable income. (AGI = adjusted gross income = income before standard deduction or Schedule B deductions are taken.) For example, Net Investment Income Tax (NIIT), although it doesn't sound like you would be getting up to the threshold of $250,0...
by cas
Mon Sep 17, 2018 10:31 am
Forum: Investing - Help with Personal Investments
Topic: Switched from Edward Jones - Need advice on selling equities
Replies: 7
Views: 730

Re: Switched from Edward Jones - Need advice on selling equities

Annual household income: typically $120k but will be about $100k this year I've already sold all the individual stocks that Edward Jones had in the IRA, and I've sold a few from the taxable account, but I'm nervous to sell more because I'm afraid of the tax implications (although I admit I'm quite ...
by cas
Mon Sep 17, 2018 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Looking for Tax Reduction moves this year
Replies: 11
Views: 1252

Re: Looking for Tax Reduction moves this year

I have a 2 part question - A) Verify a common man's guess at my taxes due this year <skip> - We are Retired I am 63 & DW 58 <skip> [2018 Income] 250 k [Unrecaptured Section 1250 Gain] Long Term Cap Gains [beyond the Unrecaptured Section 1250 Gain] of $ 775 k - $ 500 k = $ 275 k Other Investment Div...
by cas
Wed Sep 12, 2018 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes in retirement too good to be true?
Replies: 23
Views: 4345

Re: Taxes in retirement too good to be true?

Thanks FiveK! A picture is worth a thousand words! (Note to OP: If you are wondering about the spikes in the second (after age 65) graph, those show where increased income is causing IRMAA (Medicare) modified AGI thresholds to be crossed and triggering an increase in Medicare Part B and D premiums.)
by cas
Wed Sep 12, 2018 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Taxes in retirement too good to be true?
Replies: 23
Views: 4345

Re: Taxes in retirement too good to be true?

I plug all this in and it yields an answer of ~$500 taxes owing each year. If instead, I assume 100% comes from LCG + Dividends, I get a number like $3500. Does this sound correct? Is this because the $38.6k of LCG is tax free + the standard deduction of $12k makes only [90k - 12k - 38.6k] = $39.4k...
by cas
Mon Sep 10, 2018 8:32 am
Forum: Investing - Help with Personal Investments
Topic: Helping Parents with Retirement
Replies: 34
Views: 3950

Re: Helping Parents with Retirement

2. Where to prioritize withdrawing from? They each have an individual IRA and they also have a taxable JTWROS account -- but the taxable account only has a very small amount compared to what is in the two IRAs. I’m clear on minimum required distributions from the IRAs and they will need a little mo...
by cas
Sun Sep 09, 2018 6:34 pm
Forum: Personal Consumer Issues
Topic: finding the error in my federal tax return
Replies: 18
Views: 1872

Re: finding the error in my federal tax return

I do my taxes by hand and until 2017 no problem ... <skip> The disagreement is over the amount of tax owed - we agree within a couple of dollars on total income and taxable income - so the error is probably on the worksheet for calculating tax due for those who file sched D and have qualified divid...
by cas
Sat Sep 08, 2018 6:03 am
Forum: Investing - Help with Personal Investments
Topic: Check my Roth conversion math
Replies: 4
Views: 693

Re: Check my Roth conversion math

Warning! Note well the "stealth" 27% marginal tax bracket in FiveK's graph in the post above! This is a situation where many (most?) people think they are being taxed 12% on their Roth conversion, but are actually being taxed 27%. Example 3 in the Kitces article (that I linked to in my post above) ...
by cas
Sat Sep 08, 2018 6:01 am
Forum: Investing - Help with Personal Investments
Topic: Check my Roth conversion math
Replies: 4
Views: 693

Re: Check my Roth conversion math

Another question: If the cap gains straddle the top of the tax free 77,200 limit, is only the overage taxed at 15%, or all of the cap gains taxed at 15%? Here are a couple of articles with graphs that show how the mechanics of this works. (I find that the bar chart image works better for me than wo...
by cas
Fri Sep 07, 2018 8:32 am
Forum: Investing - Help with Personal Investments
Topic: RE: Help with Mom's Taxable account
Replies: 11
Views: 1007

Re: RE: Help with Mom's Taxable account

She told me this was legacy money but I'm not 100% positive she won't need this in her future. Would it be prudent to put half of it in SWTSX and the other half in the Vanguard Tax Managed Balanced fund? I just noticed that this thread seems to be your first. Welcome to Bogleheads! The answers to y...
by cas
Thu Sep 06, 2018 1:41 pm
Forum: Investing - Help with Personal Investments
Topic: RE: Help with Mom's Taxable account
Replies: 11
Views: 1007

Re: RE: Help with Mom's Taxable account

My mother has a bit over $200k she would like to put into a taxable account as a legacy fund for her 5 children. She is 73 and only collects SS in the state of New York. <skip> Option 1 - . . . Schwab Intelligent Portfolio . . . Since its over $50k she will get TLH Option 3 - invest in a simple 3 f...
by cas
Wed Sep 05, 2018 5:55 am
Forum: Investing - Help with Personal Investments
Topic: Mom had no idea she had over a mil in her Portfolio. What now?
Replies: 25
Views: 5189

Re: Mom had no idea she had over a mil in her Portfolio. What now?

I am attaching what she has and we are hoping to get a little guidance from some of you here on what the next step should be in terms of making this portfolio a bit more stable. Apologies in advance that my comment doesn't address what you actually asked about. My mom is 62 years old, she is retire...
by cas
Sat Sep 01, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: IRMAA costs
Replies: 7
Views: 755

Re: IRMAA costs

You've basically got it, with a few caveats: 1. Your income 2 years previous determines the current year IRMAA brackets. So, for example, the figures you cite are actually. A married couple with income between 170k-214k *in 2016* would each pay standard premium of 134 + a 53.50 surcharge each month ...
by cas
Tue Aug 28, 2018 7:06 am
Forum: Investing - Help with Personal Investments
Topic: cost basis research
Replies: 8
Views: 451

Re: cost basis research

Hello, A majority of the stock gifted to me was purchased in the late 1960s/early 1970s. My question is how to I go about getting the cost basis? All paperwork has been lost over the years (probably due to moving many times), and the institution that transferred the stock has no documentation on th...
by cas
Sun Aug 26, 2018 11:56 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Account Disappeared HELP!!
Replies: 20
Views: 1428

Re: Vanguard Account Disappeared HELP!!

Given that it shows in your wife's view, but not your view... Have you checked the "customized view" settings, just to make sure that somehow things didn't get changed so that that account got the check mark removed, and the computer thinks you don't want that account to be shown to you? (The "custo...
by cas
Mon Aug 20, 2018 9:28 am
Forum: Investing - Help with Personal Investments
Topic: Recently Retired – Request Help to Simplify Portfolio, Advice on Roth Conversions, and Taking SS
Replies: 15
Views: 1722

Re: Recently Retired – Request Help to Simplify Portfolio, Advice on Roth Conversions, and Taking SS

2. Should we do Roth IRA Conversions until RMDs kick in (for about 10 years)? If so, what are recommendations on the amount to convert each year? We plan to stay in California. An expense that is often off the radar of people considering Roth conversions is the Income Related Monthly Adjustment Amo...
by cas
Fri Aug 17, 2018 7:48 am
Forum: Investing - Help with Personal Investments
Topic: Elderly Relative Short on Money
Replies: 98
Views: 8765

Re: Elderly Relative Short on Money

Long story short, she just got divorced at age 65 . . . She took Social Security early, and makes about $1k a month. Her biggest cost will be rent, and she understandably has no desire to live in a dump. We are looking at a subsidized elderly housing unit that costs $1250 a month in rent. After uti...
by cas
Thu Aug 16, 2018 7:54 am
Forum: Investing - Help with Personal Investments
Topic: High tax bracket - Go 100% Roth in tax advantaged?
Replies: 47
Views: 4070

Re: High tax bracket - Go 100% Roth in tax advantaged?

My CPA pointed out that RMD's when I hit 70 would be so high that I'd end up in the same or higher tax bracket. You may be interested in a recent Vanguard research paper that points out that comparing current and retirement marginal tax rates is, in some situations, not giving the whole picture wit...
by cas
Wed Aug 08, 2018 6:45 am
Forum: Investing - Help with Personal Investments
Topic: Need Help with Mom’s Retirement Income
Replies: 34
Views: 3830

Re: Need Help with Mom’s Retirement Income

Agreed. We like to keep her in the 12% marginal bracket since we can't change certain expenditures; then what we can do is work on the back end (taxes/investment fees, etc.) to keep the numbers positive. <skip> If her AGI that we have currently already includes 85% of her SS, and her combined incom...
by cas
Tue Aug 07, 2018 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion and Social Security Taxation
Replies: 6
Views: 714

Re: Roth Conversion and Social Security Taxation

So let's say a couple has about $38,700 in social security income and want to convert the maximum to a Roth while staying in the 12% marginal bracket. If we assume they could take the standard deduction, so if they are married filing jointly, the could have the $77,400+$24,000 =$101,400 and still b...
by cas
Fri Aug 03, 2018 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Capital gain, safe harbor rule, AMT: advice
Replies: 22
Views: 1095

Re: Capital gain, safe harbor rule, AMT: advice

Sounds like you've thought it all through. In that case, the taxes will be what they will be, and we're back to the question you actually asked about meeting safe harbor for estimated taxes. And I agree with what other people said: if you can withhold-from-salary enough to meet the 110%-of-2017 safe...
by cas
Fri Aug 03, 2018 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Capital gain, safe harbor rule, AMT: advice
Replies: 22
Views: 1095

Re: Capital gain, safe harbor rule, AMT: advice

cas.....agree w/ everything you said. Fortunately OP has 8 mos. to figure out the self-created dilemma and only has to deal w/the safe harbor based on 2017 tax now. Absolutely agree that the AMT issue has nothing to do with the original question about the estimated tax safe harbor. But ... I though...
by cas
Fri Aug 03, 2018 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Capital gain, safe harbor rule, AMT: advice
Replies: 22
Views: 1095

Re: Capital gain, safe harbor rule, AMT: advice

Given all this context, here is the main situation: this quarter (ending in August 31) I will likely sell a bunch of stocks (the ones exercised last year) realizing a long term capital gain of ~$1M, meaning a federal tax liability of ~$230k (I'm excluding CA but the calculation is similar there). A...
by cas
Wed Jul 25, 2018 9:41 am
Forum: Investing - Help with Personal Investments
Topic: At Retirement: thoughts on portfolio allocations & moving TIAA to VG
Replies: 9
Views: 726

Re: At Retirement: thoughts on portfolio allocations & moving TIAA to VG

Background Age 63 . . . Married filing separately . . . - Something I am missing and haven’t done/need to consider? You may well have considered this and just not mentioned it. But, this really annoys people when it bites them unexpectedly, so I'll mention it just in case: Are you familiar with Med...
by cas
Tue Jul 24, 2018 8:31 am
Forum: Investing - Help with Personal Investments
Topic: Wife and her brother are recipients of a few inherited IRA's
Replies: 11
Views: 1620

Re: Wife and her brother are recipients of a few inherited IRA's

There is/was a revocable "trust" (CTC's words, not mine) and the CTC began transferring the value of it into an irrevocable trust. That has finally been completed as of April 2018, but it is still listed under my in-laws names, not to either my wife and/or her brother. We know this new irrevocable ...
by cas
Sun Jul 22, 2018 7:47 am
Forum: Investing - Theory, News & General
Topic: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??
Replies: 29
Views: 2084

Re: TIAA - Full POA *not* enough for all tasks any more - need "Guardianship" ??

I had something similar happen with TIAA maybe 18 months ago. My father has a slowly progressing dementia, and I have both general durable POA (the lawyer-drawn-up general document) and the TIAA-specific, on-TIAA-forms full agent/highest level authorization/whatever-TIAA-calls-it authorization for D...
by cas
Fri Jul 20, 2018 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Unexpected huge LTCG in trust - need help with tax issues
Replies: 5
Views: 689

Re: Unexpected huge LTCG in trust - need help with tax issues

Finally, she would owe around $4400 AMT on her personal return if gains were distributed, but the trust only owed $20 AMT on the dummy return (of course I'm using estimated income amounts based on last year's figures, but they're pretty close to what this year's will be). Did you use a 2018 tax-est...
by cas
Fri Jul 20, 2018 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Unexpected huge LTCG in trust - need help with tax issues
Replies: 5
Views: 689

Re: Unexpected huge LTCG in trust - need help with tax issues

The LTCG, after subtracting the losses from the WGL gain, will be about $248K. I know that normally the gain should be taxed to the trust at a 20% rate (plus the 3.8% investment tax). But I believe the trust allows for the capital gains to be distributed to the beneficiary and taxed to her (I am me...
by cas
Wed Jul 11, 2018 6:13 am
Forum: Personal Finance (Not Investing)
Topic: Retired, age 60 - Tax Plan. Please suggest improvements.
Replies: 30
Views: 3179

Re: Retired, age 60 - Tax Plan. Please suggest improvements.

Just one comment about IRMAA: ROTH conversions count as income for IRMAA, and then they are counted again as income when withdrawn from ROTH, for IRMAA accounting. Ralph Ralph, could provide a link to your information source for this statement? "Medicare Premiums:Rules For Higher-Income Beneficiari...
by cas
Tue Jul 10, 2018 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Retired, age 60 - Tax Plan. Please suggest improvements.
Replies: 30
Views: 3179

Re: Retired, age 60 - Tax Plan. Please suggest improvements.

Were you planning on switching to filing taxes married-filing-jointly at IRMAA age? I'm guessing so, since you mention the $214,000 threshold (which applies to married-filing-jointly), but thought it was probably best to ask. Looks like, for IRMAA purposes, married-filing-separately jumps directly f...
by cas
Sat Jul 07, 2018 4:49 am
Forum: Investing - Help with Personal Investments
Topic: Please help with my 401k allocation at my second job
Replies: 12
Views: 923

Re: Please help with my 401k allocation at my second job

I started a per diem job recently, and jumped the gun on contributing to my 401k with them in hopes of capitalizing on the employer match. . . . I already have a full time job elsewhere. . . . Currently, I have already put in $1,019.93 pre-tax [in the 2nd job plan]. . . . Since I am already maxing ...
by cas
Fri Jul 06, 2018 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: What I spent in 6 months on medicare
Replies: 159
Views: 13148

Re: What I spent in 6 months on medicare

Very good analysis! I believe, however, that the approx $13,188 per year per person ($1099 per month per person) is probably on the low side. My wife had an Obamacare plan at Kaiser for 2 years prior to going on Medicare (63 and 64 years old) about five years ago. That plan was far inferior to Medi...
by cas
Fri Jul 06, 2018 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: What I spent in 6 months on medicare
Replies: 159
Views: 13148

Re: What I spent in 6 months on medicare

I had the opposite reaction. I wish I could buy into Medicare. I recently saw the 2019 figures for my ACA plan. Several people had a comment of this sort. (I'm quoting Hayden just because his/her comment was ready at hand to use the quote tool upon.) The premiums that dms200 mention are accurate fo...
by cas
Tue Jun 19, 2018 10:25 am
Forum: Investing - Help with Personal Investments
Topic: Morgan Stanley Target date portfolios?
Replies: 23
Views: 1377

Re: Morgan Stanley Target date portfolios?

Other people have alluded to some of the information in this wiki, but the Boglehead's wiki on 401(k)s has a section called "Expensive or Mediocre Choices." You might find it useful.

https://www.bogleheads.org/wiki/401(k)# ... re_choices
by cas
Tue Jun 19, 2018 8:05 am
Forum: Investing - Help with Personal Investments
Topic: Morgan Stanley Target date portfolios?
Replies: 23
Views: 1377

Re: Morgan Stanley Target date portfolios?

Any chance you can opt out of the consulting group. You may be extra for it. Yes, something sounds a little off, here. When you actually are able to sign up on July 1, you may log in and discover that you have inadvertently gotten in touch with someone in an optional advisory program available with...
by cas
Sun Jun 17, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Looking for BLS data on retiree health costs
Replies: 8
Views: 773

Re: Looking for BLS data on retiree health costs

Sorry, I'm not fluent with the data, but your question made me think that I thought I remembered that the Kaiser Family Foundation recently published a paper (and maybe more than one) doing some slicing and dicing of the 2016 BLS Consumer Expenditure Survey relative to health care costs. Don't know ...
by cas
Tue Jun 12, 2018 11:59 am
Forum: Investing - Help with Personal Investments
Topic: Investing when someone else gets all dividends
Replies: 80
Views: 5289

Re: Investing when someone else gets all dividends

Do with this information what you will (since it seems completely out of line of where the conversation seems to want to go), but here are some observations from real life experience with an actual (small) trust that is more or less set up like the trust the OP speaks of. I'm not expert. I've just h...
by cas
Sat May 26, 2018 3:00 pm
Forum: Investing - Help with Personal Investments
Topic: Just wanted to clarify how taxation works on LTCG rate and Roth conversion
Replies: 20
Views: 1375

Re: Just wanted to clarify how taxation works on LTCG rate and Roth conversion

However, if I were to incur an additional $1 of LTCG, then that only results in an additional 15% tax all the way to $342,800 ($400k 15% LTCG threshold - $57,200). Is this correct? This may not be what you were asking (you may have just been confirming the mechanics of how LTCG behave around the 0%...
by cas
Mon Apr 30, 2018 11:14 am
Forum: Investing - Help with Personal Investments
Topic: HSA question
Replies: 5
Views: 451

Re: HSA question

--What happens to the money if Health Equity goes bankrupt? . . . I presume the FDIC insurance would cover our $1,000 With HSAs, you have to read the fine print about whether there is any FDIC/NCUA insurance on the cash accounts. Most of the time (especially if a bank or credit union is the organiz...
by cas
Sun Apr 15, 2018 10:00 am
Forum: Investing - Help with Personal Investments
Topic: 2018 Tax Planning Help - New to US - Couple in Their 30s
Replies: 11
Views: 1004

Re: 2018 Tax Planning Help - New to US - Couple in Their 30s

[*] Big Capital Gain in 2018. We want to sell the 500K in employer stock and pay off our house. This will realize a capital gain of about 200K and nudge our AGI to about 750K for 2018. Am I right to assume that for our income bracket we are looking at a 20% long-term capital gains raise plus a 3.8%...
by cas
Sat Apr 14, 2018 10:26 am
Forum: Personal Finance (Not Investing)
Topic: HELP - IRS says I owe close to $12,000 for 2016 taxes
Replies: 26
Views: 4649

Re: HELP - IRS says I owe close to $12,000 for 2016 taxes

The only information she told me so far is that shares were bought a long time ago through a drip program. My knowledge of drip programs is limited, but if the shares were bought directly from the company and the company made all these changes, I wonder how helpful they would be getting information...
by cas
Sat Apr 14, 2018 6:48 am
Forum: Personal Finance (Not Investing)
Topic: HELP - IRS says I owe close to $12,000 for 2016 taxes
Replies: 26
Views: 4649

Re: HELP - IRS says I owe close to $12,000 for 2016 taxes

Gross proceeds from the sale: $42,000 The $42,000 consisted of covered shares and uncovered shares. $5,000 of the proceeds came from covered shares, meaning that the broker knew the cost basis. These were reported on her 2016 return correctly. $37,000 of the proceeds came from uncovered shares, mea...
by cas
Thu Apr 12, 2018 6:13 am
Forum: Investing - Help with Personal Investments
Topic: Cost basis question
Replies: 2
Views: 251

Re: Cost basis question

Hello, I inherited Stock A when my mom died in Feb 2006. Stock A spun off to Stock B in Nov 2015. I received equal shares of Stock B. I sold a portion of Stock B in Oct 2017. Do I calculate basis on date of death of Feb 2006 or when it spun off in NOV 2015? Thank you! When the spin-off of Stock B o...
by cas
Wed Apr 11, 2018 6:16 am
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1418

Re: Microfocus tax implications

In any case, without knowing the actual original cost of original securities purchased about 25 years ago, it is futile to guesstimate. I will just let IRS have my pound of flesh by keeping the cost zero for 1099-B and pay the extra tax. Once the IRS gets your pound of flesh for the Micro Focus, ke...
by cas
Tue Apr 10, 2018 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1418

Re: Microfocus tax implications

Regardless I am in similar situation but my cost basis is from DEC->CPQ merger which happened in Jun 1998. Even after googling, I am not able to find the exact date and CPQ price on that date. At least I have found the formula. I'll agree with you that the official "tax information" document that C...
by cas
Tue Apr 10, 2018 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Microfocus tax implications
Replies: 22
Views: 1418

Re: Microfocus tax implications

I don't think there was HPE on 1/1/2000 aka it did not exist. No, but (original) HP (and Compaq ... acquired by (original) HP in a non-taxable merger in 2002) existed, and if HP (or Compaq) was purchased (around) that date, then held, it would have eventually spun off HPE (in 2015) in a non-taxable...