Search found 649 matches

by cas
Mon Aug 19, 2019 10:32 am
Forum: Personal Investments
Topic: Understanding capital gains tax
Replies: 6
Views: 406

Re: Understanding capital gains tax

Please help me understand how much long term capital gains tax I would be paying if I sold 200,00.00 in my Vanguard Total Stock Market. According to what I find online I am in the 15% tax bracket for capital gains. So, is it as simple as paying 15% of 200.000.00? This is my first time having to sel...
by cas
Sat Aug 17, 2019 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Question about income and Medicare Premiums
Replies: 19
Views: 1225

Re: Question about income and Medicare Premiums

Follow up on Cas's suggestion about life changing event. I would expect (but I don't know) that a one year bump in income would be something they would accept and give you a waiver. I would be very surprised if the sale of an investment property qualified as a "life changing event" for the appeal, ...
by cas
Sat Aug 17, 2019 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Question about income and Medicare Premiums
Replies: 19
Views: 1225

Re: Question about income and Medicare Premiums

Follow up on Cas's suggestion about life changing event. I would expect (but I don't know) that a one year bump in income would be something they would accept and give you a waiver. I would be very surprised if the sale of an investment property qualified as a "life changing event" for the appeal, ...
by cas
Sat Aug 17, 2019 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Question about income and Medicare Premiums
Replies: 19
Views: 1225

Re: Question about income and Medicare Premiums

I started Medicare July 1 and got caught in the IRMAA net because of an inheritance I got two years ago. Does that mean after December of this year I don't pay extra for IRMAA, or do I have to pay it until July 1 2020? It's confusing! Your current IRMAA surcharge will end in December 2019. Your inc...
by cas
Sat Aug 17, 2019 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Question about income and Medicare Premiums
Replies: 19
Views: 1225

Re: Question about income and Medicare Premiums

It's all automatic. They look at your tax returns each year. You don't have to take any action. And it is the automatic nature of it that causes the seemingly odd 2 year lag between income and IRMAA: IRMAA Year minus 2 (e.g. age 63): You receive income, up through December 31. But neither the IRS n...
by cas
Fri Aug 16, 2019 12:39 pm
Forum: Personal Investments
Topic: Paying current taxes vs continued high expenses
Replies: 31
Views: 1622

Re: Paying current taxes vs continued high expenses

First, let me return the favor by sharing something I learned (probably known to most of you, but I have heard from some who are following this thread, dealing with similar situations). I started to reconstruct the cost basis on these 30-year old funds by going through the end-of-year statements, w...
by cas
Wed Aug 14, 2019 2:46 pm
Forum: Personal Investments
Topic: Mothers old 403(b)s
Replies: 11
Views: 473

Re: Mothers old 403(b)s

I'm still mulling this over [ . . .] [ . . . ] but conversion is still up in the air, at least for me. The only thing that is pushing me in that direction is if one of them dies, the survivor may be in the 22% bracket. If that occurs, it would have been better to convert to Roth at 12% than pay 22%...
by cas
Wed Aug 14, 2019 2:40 pm
Forum: Personal Investments
Topic: Mothers old 403(b)s
Replies: 11
Views: 473

Re: Mothers old 403(b)s

I'm still mulling this over [ . . .] [ . . . ] but conversion is still up in the air, at least for me. The only thing that is pushing me in that direction is if one of them dies, the survivor may be in the 22% bracket. If that occurs, it would have been better to convert to Roth at 12% than pay 22%...
by cas
Wed Aug 14, 2019 5:01 am
Forum: Personal Finance (Not Investing)
Topic: Please check my tax bracket math
Replies: 7
Views: 868

Re: Please check my tax bracket math

At your AGI, Net Investment Income Tax (additional 3.8% on investment income) is going to enter the picture as well. NIIT definitely applies to the interest/dividends. ESPP and RSUs are NOT my area of knowledge, but to the extent that the income from those is categorized as capital gains, I'd assume...
by cas
Tue Aug 13, 2019 3:08 pm
Forum: Personal Investments
Topic: Paying current taxes vs continued high expenses
Replies: 31
Views: 1622

Re: Paying current taxes vs continued high expenses

* Wells Fargo (formerly Evergreen) Opportunity Fund (WOFDX)(1.0% ER) = 1% of portfolio Sell them off and exchange into lower cost index funds (3-fund portfolio stands ready to receive). DOWNSIDE: This would generate considerable tax liability on 30+ years of gains, just as I am relishing some low t...
by cas
Sun Aug 11, 2019 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: HSA investing fee (PayFlex)
Replies: 20
Views: 1117

Re: HSA investing fee (PayFlex)

which “aligns with industry standards.” LOL. The elephant in the room with that comment is that Fidelity does NOT charge an AUM fee for their HSA accounts.*** Given that Fidelity's HSA account is a standard-issue Fidelity brokerage account, I can't see them adding an AUM fee for HSA assets either. ...
by cas
Fri Aug 09, 2019 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Received a $17,000 medical bill! Can we negotiate?
Replies: 91
Views: 9638

Re: Received a $17,000 medical bill! Can we negotiate?

We live in New Jersey [ . . .] In NJ, "The Out-of-network Consumer Protection, Transparency, Cost Containment, and Accountability Act, (P.L.2018, c.32), (“Act”), was signed into law on June 1, 2018, and became effective on August 30, 2018. " https://www.state.nj.us/dobi/division_consumers/insurance...
by cas
Tue Aug 06, 2019 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Dividends Being Taxed as Ordinary Income
Replies: 14
Views: 855

Re: Qualified Dividends Being Taxed as Ordinary Income

Many people seem to find the "bar chart" graphic useful for understanding how Qualified Dividends "float on top" of ordinary income (as terran described above). Go to this Finance Buff blog post and scroll down to the bar chart graphic: Harry Sit, "Reset Cost Basis Higher By Realizing Capital Gains...
by cas
Tue Aug 06, 2019 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Dividends Being Taxed as Ordinary Income
Replies: 14
Views: 855

Re: Qualified Dividends Being Taxed as Ordinary Income

Many people seem to find the "bar chart" graphic useful for understanding how Qualified Dividends "float on top" of ordinary income (as terran described above). Go to this Finance Buff blog post and scroll down to the bar chart graphic: Harry Sit, "Reset Cost Basis Higher By Realizing Capital Gains"...
by cas
Tue Aug 06, 2019 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Dividends Being Taxed as Ordinary Income
Replies: 14
Views: 855

Re: Qualified Dividends Being Taxed as Ordinary Income

(Note: a bunch of us apparently all started typing at the same time. But, plunging ahead with saying the same thing in slightly different words....) Your CPA is filling out the tax form correctly, and you (almost certainly) are getting the special tax rate on qualified dividends. (Note: You mention ...
by cas
Tue Aug 06, 2019 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Payoff Mortgage @ 2.67 % from Total Stock Market Index ?
Replies: 32
Views: 2604

Re: Payoff Mortgage @ 2.67 % from Total Stock Market Index ?

Just for someone who can really do a math, the LTCG will be 20%, when I viewed last time. I look at this a capturing the LTCG as well, than just the tax on this. FWIW, everyone who pays the 20% LTCG marginal rate will also have an Adjusted Gross Income that causes them to owe Net Investment Income ...
by cas
Tue Aug 06, 2019 1:11 am
Forum: Personal Finance (Not Investing)
Topic: Cannot login to TrueIntity (TransUnion's Credit Freeze) account. What now?
Replies: 7
Views: 618

Re: Cannot login to TrueIntity (TransUnion's Credit Freeze) account. What now?

This comment doesn't address your original technical login problem, but ... to avoid getting yourself tangled deeper in the weeds... I'm pretty sure that TransUnion's TrueIdentity product is NOT a "credit freeze." It is their "credit lock," which isn't the same thing. (So that is why you don't have ...
by cas
Mon Aug 05, 2019 6:13 pm
Forum: Personal Investments
Topic: Is 0.30% Annual Fee on HSA Investment Account Reasonable?
Replies: 16
Views: 1118

Re: Is 0.30% Annual Fee on HSA Investment Account Reasonable?

3. Do the necessary set-up of my employer's HSA to "link" to the Fidelity HSA 4. Transfer x$ to Fidelity HSA If, by "link"+ "transfer" you mean that you are trying to set up a method to electronically move the funds from one HSA to another, this method is fraught with IRS peril. Reports are that Fi...
by cas
Fri Aug 02, 2019 9:26 am
Forum: Personal Consumer Issues
Topic: Capital one freeze attempt- fail- action required?
Replies: 10
Views: 831

Re: Capital one freeze attempt- fail- action required?

I succeeded at all but Experian. I have no cell-phone and the site would not accept my land line # Is this a reason to complain to CFPB? It's probably a reason to go pull your once-a-year free credit report from Experian and see what information they have listed for you. Information in credit repor...
by cas
Thu Aug 01, 2019 5:55 am
Forum: Personal Investments
Topic: Optum Bank => Fidelity HSA?
Replies: 9
Views: 860

Re: Optum Bank => Fidelity HSA?

Mutual fund investment options are made available through the services of an independent investment advisor. Shares are offered through Charles Schwab & Co., Inc., a registered broker-dealer. Orders are accepted to effect transactions in securities only as an accommodation to HSA and MSA owners. Op...
by cas
Thu Aug 01, 2019 5:47 am
Forum: Personal Investments
Topic: Optum Bank => Fidelity HSA?
Replies: 9
Views: 860

Re: Optum Bank => Fidelity HSA?

I guess I just do not understand, if Optum Bank is not a 'brokerage', how can it hold those funds? So it must use some brokerage firm to hold the funds (just like Lively). From some fineprint, it seems Charles Schwab is the broker. Can I trace to Charles Schwab to request in-kind transfer? I have n...
by cas
Wed Jul 31, 2019 5:22 am
Forum: Personal Finance (Not Investing)
Topic: Can I rollover an HSA to an IRA?
Replies: 3
Views: 567

Re: Can I rollover an HSA to an IRA?

No, you can't roll HSA money to an IRA. But there are probably better options: - If you want to use up the money tax-free and be done with having an HSA account, you can reimburse yourself (and spouse*) for your Medicare Part B, D, and/or C premiums. (But not for Medigap premiums.) (*If the HSA acco...
by cas
Tue Jul 30, 2019 11:27 am
Forum: Personal Investments
Topic: Issue of unrealised gains when transferring to passive
Replies: 31
Views: 1426

Re: Issue of unrealised gains when transferring to passive

This is currently the only liquid money that I have and I will therefore need to sell some positions going forward in order to raise cash to 'live'. Are you taking into consideration the fact that $1.5M in stocks approximating the S&P500 should be kicking off approximately $30,000 in dividends annu...
by cas
Tue Jul 30, 2019 7:41 am
Forum: Investing - Theory, News & General
Topic: Taxes from Investing in a Taxable Account
Replies: 4
Views: 741

Re: Taxes from Investing in a Taxable Account

I know long term gains are taxed at 15% and short term gains at the marginal tax rate, 24% in my case. Depending on filing status (single, MFJ, etc) and exactly where your Adjusted Gross Income falls in order to give you a Taxable Income that puts you in the 24% bracket, you may also owe an additio...
by cas
Mon Jul 29, 2019 6:58 am
Forum: Personal Investments
Topic: Optum Bank => Fidelity HSA?
Replies: 9
Views: 860

Re: Optum Bank => Fidelity HSA?

Did anyone manage to do in-kind transfer of HSA from Optum Bank to Fidelity? Mine has only a single fund VTSAX, which Fidelity has no problem holding. The only successful in-kind transfers of HSA assets that I have seen reported on these forums are those that have a "real" brokerage account on the ...
by cas
Mon Jul 29, 2019 6:46 am
Forum: Personal Investments
Topic: Optum Bank => Fidelity HSA?
Replies: 9
Views: 860

Re: Optum Bank => Fidelity HSA?

We figured the best way is to open the Fido HSA account, link to Optum from Fido, then do a EFT from Fidelity. I'm in that process now. There have been multiple threads where people want to do a 60-day rollover of their HSA funds to Fidelity using EFT. Unless Fidelity procedures have changed recent...
by cas
Wed Jul 24, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5137

Re: Vanguard Natl. Trust Co. - Important Information

I do have some concerns. [ . . .] That is, proceeds can be deposited in 529 where grandparent is named as beneficiary (with no tax on bond interest) and later transferred to a grandchild’s 529? I really don’t want to do this and be wrong. Discussion of this general approach comes up a couple of tim...
by cas
Mon Jul 22, 2019 6:51 am
Forum: Personal Finance (Not Investing)
Topic: HSAs savings vs investment accounts and best HSA administrators
Replies: 15
Views: 1123

Re: HSAs savings vs investment accounts and best HSA administrators

Thanks, terran, for helping me understand this piece. So it sounds like the payroll deduction to BenefitWallet is the way to go...Is it true that I can then rollover funds into an investment account elsewhere at any time? (Do administrators set limits?) Thanks for helping me better understand this!...
by cas
Sun Jul 21, 2019 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5137

Re: Vanguard Natl. Trust Co. - Important Information

I doubt that very many trustees invest through Treasury Direct. It's an extra complication for a trustee. There are other ways to invest in Treasury obligations. If you mean not many institutional trustees invest through Treasury Direct, then I doubt you are surprised that Gill got the answer he di...
by cas
Sun Jul 21, 2019 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard Natl. Trust Co. - Important Information
Replies: 62
Views: 5137

Re: Vanguard Natl. Trust Co. - Important Information

Gill, My commiserations. I'm 99.9% sure that this has nothing to do with VTC's reaction to your i-Bonds, but I have occasionally seen little glimmers of hints on Bogleheads that successor trustees can run into difficulties dealing with Treasury Direct - that Treasury Direct technically allows trust ...
by cas
Wed Jul 17, 2019 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Any downside to using 'trusted contact' feature for financial accounts?
Replies: 17
Views: 1452

Re: Any downside to using 'trusted contact' feature for financial accounts?

What exactly does this service offer and who is the "trusted" one? Is there a fee in there somewhere? It is a new (within the last couple of years) FINRA (regulatory agency) requirement. How it has ended up working in real-life practice, I don't know. (So, sorry, this post isn't answering the OP's ...
by cas
Mon Jul 15, 2019 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Rebalance portfolio vs Tax bracket & Medicare part B premium
Replies: 13
Views: 694

Re: Rebalance portfolio vs Tax bracket & Medicare part B premium

(4) The capital gains may push me from 22% to 24% tax bracket + increase MAGI so that Medicare part B premiums increase. It is true that realizing capital gains will increase your AGI and the various modified AGIs that determine things like IRMAA on your Medicare part B premiums (or possibly Net In...
by cas
Sun Jul 14, 2019 1:28 pm
Forum: Investing - Theory, News & General
Topic: Tax cost stopping move to indexing
Replies: 70
Views: 3675

Re: Tax cost stopping move to indexing

I have no problem with gifting share away to daughter without any expectation of anything back. Gifting to mom with an expectation of ....? Not so sure. My mom and I are very open with each other about estate planning and finances. I can see how that might be awkward for some. But if you think abou...
by cas
Sun Jul 14, 2019 5:01 am
Forum: Personal Finance (Not Investing)
Topic: What is the cost of MA plans to Medicare?
Replies: 5
Views: 571

Re: What is the cost of MA plans to Medicare?

As I understand, co's bid for the payout from Medicare. I would be curious to know how that cost compares to Medicare's own health payouts. To rephrase, what is the total cost of MA plans vs Heath coverage to SS. Hope this makes sense? Kaiser Family Foundation recently (June 2019) published one of ...
by cas
Thu Jul 11, 2019 3:20 pm
Forum: Personal Investments
Topic: Tax liability question re: transferring 401k to Roth IRA
Replies: 6
Views: 468

Re: Tax liability question re: transferring 401k to Roth IRA

I understand I'll be dinged heavily for switching from traditional to Roth, but I'm not sure what the penalty percentage is, when that liability will be due (i.e. next tax season or upon withdrawals at retirement, etc.), Technically, unless you meet something called "safe harbor for estimated taxes...
by cas
Wed Jul 10, 2019 5:12 am
Forum: Personal Investments
Topic: Roth IRA Convesion
Replies: 6
Views: 699

Re: Roth IRA Convesion

I am 65 year old and will retire on September 3rd 2019. [ . . .] If I file my taxes separate from my husband I will be in 22% tax bracket. I am thinking of converting about 35, 000 a year to stay in the 22% tax bracket. Another caution on the idea of filing married-filing-separately: the reduction ...
by cas
Tue Jul 09, 2019 10:09 am
Forum: Personal Investments
Topic: transferring money from an IRA acct into a new IRA acct. with a check
Replies: 24
Views: 1470

Re: transferring money from an IRA acct into a new IRA acct. with a check

@Alan S. - I would love to get a CD at Vanguard, but the brokered CDs that I looked at seem to have a stipulation that those CDs can be "broken" on the whim of the issuer? I might not be phrasing this correctly, but if I want a 5 year CD, I don't want to have the feeling that they can back out of i...
by cas
Tue Jul 09, 2019 7:01 am
Forum: Personal Investments
Topic: Roth Conversions - Thoughts?
Replies: 6
Views: 635

Re: Roth Conversions - Thoughts?

After Tax Assets: ~$4.8M [. . .] 2022 and 2023 (ages 60 and 61) – convert up to where our total taxable income is about $250,000 which is a marginal rate of 24% currently but avoids the 3.8% investment income tax. . . . This would mean converting about $115,000 per year in these two years . . . a f...
by cas
Sun Jul 07, 2019 9:02 am
Forum: Personal Investments
Topic: Multiple HSA Account Question
Replies: 9
Views: 661

Re: Multiple HSA Account Question

You say you are saving for future medical expenses, but once Medicare starts, there might not be any medical bills (until nursing homes, etc.) HSA funds can be used to pay Medicare B, D, and C premiums (but not Medigap premiums), as well as Medicare deductibles and copays, plus stuff that (traditio...
by cas
Wed Jul 03, 2019 4:35 pm
Forum: Personal Investments
Topic: transferring money from an IRA acct into a new IRA acct. with a check
Replies: 24
Views: 1470

Re: transferring money from an IRA acct into a new IRA acct. with a check

I thought that transferring to an IRA at a different institution would be easier with a check (it is, and it's faster), but am I getting myself into any trouble here? I haven't taken possession here as far as I can see, so my understanding is that I could do this as much as I want to. As far as I c...
by cas
Tue Jul 02, 2019 11:17 am
Forum: Personal Investments
Topic: Mom wants to roll IRA to Roth, but lost records of contributions
Replies: 22
Views: 2043

Re: Mom wants to roll IRA to Roth, but lost records of contributions

The yearly conversion will push her over the income limits for contribution to a roth IRA, so backdoor would be the only option. Strange but true fact: Roth conversions do not affect your mother's eligibility to make an annual contribution directly to a Roth IRA. Conversions add to your Taxable Inc...
by cas
Thu Jun 27, 2019 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: TransUnion website alert️!
Replies: 14
Views: 1346

Re: TransUnion website alert️!

If you’ve set up a TransUnion account, log in and see if it still works. Create a new one if it doesn’t. I just tried with my greater-than-15-character password and was able to log in fine. Except ... from the main TransUnion page, it wasn't obvious to me where to go to log in if I wanted to do an ...
by cas
Mon Jun 24, 2019 1:05 pm
Forum: Personal Consumer Issues
Topic: Clearing undergrowth and bush
Replies: 37
Views: 2438

Re: Clearing undergrowth and bush

Can you wait until winter to do your clearing? I do most of mine after the leaves drop off. This has two advantages: You can see what you are doing and it is easier to dispose of the brush without the leaves. Winter (or post-frost Fall, through cool Spring weather) also has the advantage that any y...
by cas
Thu Jun 20, 2019 10:54 am
Forum: Personal Investments
Topic: Roth Conversion Question – Please help! (First Post)
Replies: 66
Views: 2931

Re: Roth Conversion Question – Please help! (First Post)

I think that 85% of this person's SS is taxed anyway - before considering the Roth conversions. So no hump.... (Again, FiveK's graph is ignoring that the OP is currently making taxable tIRA withdrawals for the purpose of living expenses rather than for the purpose of Roth conversions. His graph is ...
by cas
Thu Jun 20, 2019 8:33 am
Forum: Personal Investments
Topic: Roth Conversion Question – Please help! (First Post)
Replies: 66
Views: 2931

Re: Roth Conversion Question – Please help! (First Post)

I think that 85% of this person's SS is taxed anyway - before considering the Roth conversions. So no hump.... FiveK assumed : interest income: $1K/yr QDivd income: $2.5K/yr Both charts include GA state tax and IRMAA premiums. SS income (First chart): $14,600/yr (This income profile is ignoring the...
by cas
Thu Jun 20, 2019 7:58 am
Forum: Personal Investments
Topic: Roth Conversion Question – Please help! (First Post)
Replies: 66
Views: 2931

Re: Roth Conversion Question – Please help! (First Post)

FiveK, I know this is a big request, but can you give a rundown of what is happening with that grey line? By that I mean what event is causing each change? You seem to have an idea of "what it means" that may not be particularly apparent to the rest of us. https://i.postimg.cc/NG16nh3p/screenshot-4...
by cas
Thu Jun 20, 2019 6:12 am
Forum: Personal Investments
Topic: Roth Conversion Question – Please help! (First Post)
Replies: 66
Views: 2931

Re: Roth Conversion Question – Please help! (First Post)

I was leaning toward doing conversions up to the top of the 22% bracket, but wanted to make sure I wasn’t about to make a big mistake. You sound like you have done your homework, so you probably already know this. But, just in case... Note that the 85K IRMAA threshold is based on a modified version...
by cas
Wed Jun 19, 2019 9:34 am
Forum: Personal Investments
Topic: TIRA to Roths? help Please
Replies: 104
Views: 3811

Re: TIRA to Roths? help Please

(Continuing thought from my previous post addressed mostly to retiredjg ...) This is risking getting way too far into the weeds, but note that things get really ugly if you get a situation where an additional $1 of Roth conversion has both SS side-effects and Qdiv side effects: $1 Roth conversion pu...
by cas
Wed Jun 19, 2019 9:21 am
Forum: Personal Investments
Topic: TIRA to Roths? help Please
Replies: 104
Views: 3811

Re: TIRA to Roths? help Please

It isn't yet pushing the QDivs over the 15% threshold. That appears to be what the chart is saying, but why not? Backing up a little bit, the chart is showing what the marginal rate will be as increasing amounts of Roth conversion (or any source of ordinary income) is added. At the very left hand s...
by cas
Wed Jun 19, 2019 8:34 am
Forum: Personal Investments
Topic: TIRA to Roths? help Please
Replies: 104
Views: 3811

Re: TIRA to Roths? help Please

First, I had felt that 85% of the SS was being taxed anyway because the amount of other income (without conversions) is not small. This is likely just a mistake on my part because I find the "taxability of SS" calculation is hopelessly complicated and looking at the Wiki page didn't help any. With ...