Search found 386 matches

by cas
Sat Dec 15, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Obamacare (ACA) Ruled Unconstitutional by Texas Federal Court
Replies: 80
Views: 4920

Re: Obamacare (ACA) Ruled Illegal by Texas Federal Court

... if you had any preexisting condition at all, you couldn’t get insurance at any price. If you are responsible and are continuously covered by health insurance, as you should be, what is the concern about preexisting conditions? Can someone please explain? You may be interested in the "Non-Group ...
by cas
Sat Dec 15, 2018 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Converting to Roth IRA and Standard Deduction
Replies: 16
Views: 1015

Re: Converting to Roth IRA and Standard Deduction

cas, Thank you so much. I did not think about capital gains distributions, dividends, and interest. He has about +$7,000 worth of those YTD. He uses Vanguard, so it is easy to see all of that. My dad only has three funds: Vanguard Total Stock Market Vanguard Total International Stock Market Vanguar...
by cas
Sat Dec 15, 2018 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Converting to Roth IRA and Standard Deduction
Replies: 16
Views: 1015

Re: Converting to Roth IRA and Standard Deduction

https://www.thebalance.com/how-to-calculate-your-modified-adjusted-gross-income-4047216 this last one mentions: "There are two items you don't need to add to your AGI: ... 2. Taxable income generated by converting to a Roth IRA." * not sure what that means for you. Note that this last article (wher...
by cas
Sat Dec 15, 2018 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: New Boglehead. Need some help please
Replies: 17
Views: 935

Re: New Boglehead. Need some help please

Total Portfolio: 1.3m 05% TRANSAMERICA ASSET ALLOC GRWTH PORT C (IAALX) (2.19) ($-1600) Randomly chosen example on the capital gains distribution. So... 5% times 1.3m portfolio means you have about $65,000 in IAALX? google "Transamerica 2018 year end estimates" and this appear as the first result: ...
by cas
Sat Dec 15, 2018 11:53 am
Forum: Investing - Help with Personal Investments
Topic: New Boglehead. Need some help please
Replies: 17
Views: 935

Re: New Bogglehead. Need some help please

We fully expect to remain in the new 22% tax bracket for 2018 (although it will be close). "Close" on the upper side of the bracket? (and is that before or after the the potential realized capital gains?) Top of the 22% tax bracket (MFJ) is $165,000 *taxable income* (i.e. after standard/itemized de...
by cas
Sat Dec 15, 2018 9:10 am
Forum: Investing - Help with Personal Investments
Topic: New Boglehead. Need some help please
Replies: 17
Views: 935

Re: New Bogglehead. Need some help please

I think you might want to take another look at your federal tax rate. Since there is no 25% tax bracket any more, perhaps you mean you were in the 25% bracket last year. That would be the 22% bracket this year. It is not impossible you could save as much as you do while in the 22% bracket, but it s...
by cas
Fri Dec 14, 2018 8:02 pm
Forum: Investing - Help with Personal Investments
Topic: Grandma's Money
Replies: 8
Views: 1290

Re: Grandma's Money

My grandfather recently passed away, leaving a seven figure portfolio to be managed by my father on behalf of my grandmother, who has Alzheimer's. I was horrified to find that PNC investments was charging an AUM of 1.75% on these funds. Welcome to you and your first post. Do you know the exact lega...
by cas
Fri Dec 14, 2018 9:08 am
Forum: Investing - Help with Personal Investments
Topic: Long term capital gains tax help
Replies: 7
Views: 308

Re: Long term capital gains tax help

Ok perfect, thanks! Yes I've paid slightly more in this year via withholding than in 2017. I hadn't considered pre-paying until a different post triggered the question... I appreciate you digging up the link as well! This may likely be a matter of you not writing exactly what you meant in your head...
by cas
Fri Dec 14, 2018 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Converting to Roth IRA and Standard Deduction
Replies: 16
Views: 1015

Re: Converting to Roth IRA and Standard Deduction

My challenge will be to get his MAGI around $19,000. I think around $17,000 is the minimum to receive the credit, but I want to leave him some "room for error." So if his taxable account currently has -$1,000 in long-term capital gains, I would want to convert $20,000 to Roth IRA so his MAGI is $19...
by cas
Thu Dec 13, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Converting to Roth IRA and Standard Deduction
Replies: 16
Views: 1015

Re: Converting to Roth IRA and Standard Deduction

As you can see, there are a lot of moving parts, even for a relatively simple situation. He really only has 2 weeks to "get it right" Indeed. I hesitate to write anything about ACA, since I don't have any personal experience with it, but I was also getting a queasy feeling that there is high potent...
by cas
Thu Dec 13, 2018 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Converting to Roth IRA and Standard Deduction
Replies: 16
Views: 1015

Re: Converting to Roth IRA and Standard Deduction

For more information on how all these types of income play together with deductions, etc., you may be interested in this article: Michael Kitces, "Mechanics Of The 0% Long-Term Capital Gains Tax Rate " https://www.kitces.com/blog/understanding-the-mechanics-of-the-0-long-term-capital-gains-tax-rate-...
by cas
Thu Dec 13, 2018 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Converting to Roth IRA and Standard Deduction
Replies: 16
Views: 1015

Re: Converting to Roth IRA and Standard Deduction

His only source of income is selling shares of his mutual funds. He has -$1,000 realized capital gains for 2018. Besides his taxable account , he has a traditional IRA and a Roth IRA. (bold added by me) If he has a taxable account, you'll need to include any dividends, interest, and capital gains d...
by cas
Wed Dec 12, 2018 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: HAINX - Harbor International
Replies: 12
Views: 825

Re: HAINX - Harbor International

I am sure I will sell HAINX. [ . . . ] But I plan to wait and sell in January. I am really busy right now with lots of personal stuff and do not have time to really study this stuff. So I am waiting. I hope that is best versus selling now. I suspect some fund owners will sell out before year end to...
by cas
Wed Dec 12, 2018 10:37 am
Forum: Investing - Theory, News & General
Topic: CAP Gains Wellington
Replies: 12
Views: 1328

Re: CAP Gains Wellington

I was surprised to see the CG so high this year being that the market was not all that stellar. The broad market shift from active to passive investing is forcing many actively managed funds to sell stakes. Those distributions, in turn, are made to a smaller and smaller group of shareholders. :beer...
by cas
Wed Dec 12, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone been able to execute a Power of Attorney with Vanguard?
Replies: 27
Views: 1563

Re: Has anyone been able to execute a Power of Attorney with Vanguard?

Re: Vanguard 403(b) RM, There was another recent post where your difficulties (my sympathies) with POA/agent authorization and the Vanguard 403(b) came up, and someone said something along the lines of "but I thought Vanguard outsourced the administration of the 403(b) plans with their name on it. M...
by cas
Mon Dec 10, 2018 7:02 pm
Forum: Investing - Theory, News & General
Topic: Where are the Brokered CDs?
Replies: 11
Views: 1106

Re: Where are the Brokered CDs?

I have been looking at the brokered CD offerings at Vanguard. Almost all the 2-year, 3-year, 4-year, and 5-year offerings have disappeared. What is the explanation for this? Can we expect the usual number of offerings to return? If so, when? Is something unusual going on? I've frequently observed t...
by cas
Mon Dec 10, 2018 9:02 am
Forum: Investing - Help with Personal Investments
Topic: Roth conversion taxes- how to pay them?
Replies: 13
Views: 1317

Re: Roth conversion taxes- how to pay them?

Until I qualify for Medicare, for the next 2 years, I am trying to keep my yearly income under the ACA cap of about $48K. That way I can qualify for an ACA subsidy. So, my plan is to move sufficient money from the IRA's to a Roth, in 2018, to yield $60K after taxes, and then use this money over the...
by cas
Mon Dec 10, 2018 7:59 am
Forum: Investing - Theory, News & General
Topic: Low need to take risk - decrease allocation to stocks?
Replies: 42
Views: 3112

Re: Low need to take risk - decrease allocation to stocks?

Where the investment industry seems to get it wrong (or perhaps is acting in obvious self-interest) is that the majority of people do not enjoy playing the game. But the investment industry attracts people who do, and people who rather like financial risk--but seem to be too ready to project those ...
by cas
Sun Dec 09, 2018 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: Age 60, portfolio review for possible retirement soon
Replies: 9
Views: 1534

Re: Age 60, portfolio review for possible retirement soon

Harbor International Fund (HAINX) $151K (exp. 0.81%) (unrealized gain $54K) Apologies ... this doesn't address your core questions ... but... Are you aware that Harbor International (HAINX) is making a MASSIVE capital gains distribution of $21.18 per share (or about 39% of the current value of each...
by cas
Sat Dec 08, 2018 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions
Replies: 12
Views: 829

Re: Roth Conversions

I do have a lot of Dividends, the vast majority of which are qualified. So good point on the fact that the higher my taxable income goes, the higher the rate on the dividends. Ah ... the "lots of (qualified) dividends" may change your calculations a bit. You may find this article interesting, parti...
by cas
Sat Dec 08, 2018 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions
Replies: 12
Views: 829

Re: Roth Conversions

Apologies if I'm missing these bits of information in your post, but... 1. Do you have any Roth assets now? 2. Will you be filing your taxes Single (you keep saying "I", not "we" which kind of indicates filing Single) or Married Filing Jointly (having $10,000 room in 12% even after the other income ...
by cas
Sat Dec 08, 2018 8:20 am
Forum: Investing - Help with Personal Investments
Topic: retirement contributions and tax diversification
Replies: 7
Views: 1003

Re: retirement contributions and tax diversification

Fwiw [ For what it is worth ], we also have substantial taxable holdings . . . (italics in bracket added by me) That tidbit about "substantial taxable holdings" is potentially worth a great deal. It all depends what "substantial" is, or, more precisely, how much taxable income is being produced ann...
by cas
Fri Dec 07, 2018 6:55 am
Forum: Personal Finance (Not Investing)
Topic: My ACA premiums went up 128% in 2019 anybody else get hit with big increases
Replies: 21
Views: 3360

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 cas
Wed Dec 05, 2018 11:14 am
Forum: Investing - Help with Personal Investments
Topic: Do IRA contributions reduce MAGI for IRMAA?
Replies: 7
Views: 632

Re: Do IRA contributions reduce MAGI for IRMAA?

Do contributions to a traditional IRA reduce Modified Ajusted Gross Income (MAGI) the purposes of Medicare Part B Income-related monthly adjustment amount (IRMAA). Results from searching are not clear. (Bold added by me.) I've recently been seeing a steady trickle of forum posts involving MAGI for ...
by cas
Tue Dec 04, 2018 8:14 am
Forum: Investing - Help with Personal Investments
Topic: How to stage long overdue rebalance
Replies: 9
Views: 823

Re: How to stage long overdue rebalance

You are all correct that I need to educate myself on difference in various dividends and capital gains and tax consequences. [. . .] It seems I could use a serious primer on tax and tax-efficiency -- is there a book/reference you would recommend to me? Here is an article that may help explain the s...
by cas
Mon Dec 03, 2018 9:38 am
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion for 2019 and Beyond
Replies: 8
Views: 1325

Re: Roth Conversion for 2019 and Beyond

INCOME: Current Social security income: $28.2K /year. (SSDI income). Investment income: approx. $10K/year. ASSETS: ($1.5M) Taxable: $920K Yours is a tricky situation because your SSDI taxes depend on how much other income you have and a higher income will result in your long term capital gains and ...
by cas
Mon Dec 03, 2018 7:33 am
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 684
Views: 48357

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

[ . . .] I'm a big believer in a set it and forget it approach to investing...so much so that I barely remember my password into HSA bank, let along how to do transfers. [. . .] Side note (possibly mostly for the paranoid): apparently HSAs are subject to escheatment (unclaimed property seizure) und...
by cas
Sun Dec 02, 2018 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: How to stage long overdue rebalance
Replies: 9
Views: 823

Re: How to stage long overdue rebalance

UMBWX and DISSX were chosen without awareness of higher fee and ideally would be into lower-cost index funds, but further capital gains to do that (there is some TLH on UMBWX to help offset). Bite the bullet and do it all in one go? Spread out over several years? Apologies for the somewhat incohere...
by cas
Sun Dec 02, 2018 12:13 pm
Forum: Investing - Help with Personal Investments
Topic: How to stage long overdue rebalance
Replies: 9
Views: 823

Re: How to stage long overdue rebalance

Overall portfolio = low 6 figures [. . .] 1099 interest/dividends: 100K Maybe I'm missing something, but do you mean you are getting $100,000(ish) on your 1099-INT and 1099-DIV *annually*? (Is it perhaps not just from "interest/dividends", but also perhaps includes capital gains distributions from ...
by cas
Sat Dec 01, 2018 10:56 am
Forum: Investing - Help with Personal Investments
Topic: Savings Bond Taxable Events
Replies: 1
Views: 279

Re: Savings Bond Taxable Events

You didn't say what type of savings bond, but this page (particularly the second part of the table) may be of interest to you: "Series EE/E Savings Bonds Tax Considerations" https://www.treasurydirect.gov/indiv/research/indepth/ebonds/res_e_bonds_eetaxconsider.htm This is assuming that you are consi...
by cas
Fri Nov 30, 2018 9:07 am
Forum: Investing - Help with Personal Investments
Topic: When to cash in EE Savings Bonds
Replies: 16
Views: 1622

Re: When to cash in EE Savings Bonds

OP, are you aware you can report the interest annually without redeeming the bonds? The other tidbit to remember if this route is taken is to keep good records of how much interest you report every year. (And keep it in a place where whoever is doing your taxes in the year(s) of EE bond redemption ...
by cas
Thu Nov 29, 2018 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating amount for IRA conversion to Roth
Replies: 14
Views: 1223

Re: Estimating amount for IRA conversion to Roth

[ . . . ] planning to use the few years between claiming social security and starting RMDs to convert IRA money to my Roth. [. . .] estimate how much I can convert from my tIRA to Roth and still stay under the 22% bracket. Backing up a little bit... It sounds like you have already started social se...
by cas
Mon Nov 26, 2018 8:19 am
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion
Replies: 50
Views: 3176

Re: Roth Conversion

The one thing to avoid is going over the $185k MAGI IRMMA limit. Note that this is less than the top of the 22% bracket which is currently $165k taxable income (not MAGI). I know this is an extremely minor typo blip on retiredjg's part (especially in the context of all the other wise advice she is ...
by cas
Mon Nov 26, 2018 8:11 am
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion
Replies: 50
Views: 3176

Re: Roth Conversion

FiveK - I am confident of the marginal tax rates in my model so far. I am not sure what you mean by nominal bracket - can you explain? See the wiki on marginal rates for details, but in brief: just because you are in the 22% bracket now or in retirement doesn't mean that your marginal rate is 22%. ...
by cas
Sun Nov 25, 2018 8:32 am
Forum: Investing - Help with Personal Investments
Topic: Make too much for Roth IRA help!
Replies: 16
Views: 1756

Re: Make too much for Roth IRA help!

I recently asked my accountant to help me figure out what my taxes would be on various tIRA to Roth conversions. She send me several pro forma 1040s, and when I looked at the AGI I saw that I was dangerously close to hitting hitting the contribution limits at even the lowest number I was planning t...
by cas
Wed Nov 21, 2018 2:33 pm
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 684
Views: 48357

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Hello, I had a BenefitWallet HSA that I closed out earlier this year in a "direct rollover" from BenefitWallet to HSA Bank. I wrote up some tips in this post. Obviously rolling into Fidelity will be different from rolling in to HSA Bank, but hopefully this can help. Tips for closing out BenefitWall...
by cas
Wed Nov 21, 2018 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Socials Security taxes and Surcharges
Replies: 8
Views: 721

Re: Socials Security taxes and Surcharges

I notice that this is your second post to the forum (welcome to the forum) and that in your first post you mentioned that you just retired. IMPORTANT!!! As Chip said above, if you just retired (causing a drop in income going forward), you can appeal your IRMAA charges for 2019. If your income has go...
by cas
Wed Nov 21, 2018 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Socials Security taxes and Surcharges
Replies: 8
Views: 721

Re: Socials Security taxes and Surcharges

I'm sorry that this caught you by surprise. The forum often gets these shocked posts at this time of year (when the SS benefits letters for 2019 come out), so you certainly aren't the first person to be caught by surprise. I'm a little concerned that the facts and figures you have in your post are s...
by cas
Tue Nov 20, 2018 7:48 am
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 684
Views: 48357

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

I have existing HSA with Benefit Wallet. I’ve heard some pretty scary stories concerning closing out accounts there. Wondering what is the best procedure to do so. Has anybody successfully transferred and closed out account from Benefit Wallet to Fidelity? Me too, on the Benefit Wallet. (Except tha...
by cas
Mon Nov 19, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: MAGI, individual 401k contribution, IRMAA
Replies: 10
Views: 669

Re: MAGI, individual 401k contribution, IRMAA

The only information I could find stated that you had to add back "Any deductions you took for IRA contributions" but I could not find information regarding individual 401k contributions. The problem with MAGIs is that there are so many of them. I could be wrong, but it sounds to me like the MAGI c...
by cas
Sat Nov 17, 2018 8:44 am
Forum: Investing - Help with Personal Investments
Topic: Roth conversion
Replies: 6
Views: 508

Re: Roth conversion

My in laws are in their 70's and are obviously having to take RMD's. . . . Our state (NC) is brutal on state tax (7.5% I believe) to the point they've considered moving to SC to utilize a much lower state tax. Some states have different rules for taxing RMDs (and other "retirement income"), such as...
by cas
Fri Nov 16, 2018 6:31 am
Forum: Investing - Theory, News & General
Topic: Question about Roth conversion
Replies: 33
Views: 1936

Re: Question about Roth conversion

Newly retired without about 3 years before RMDs kick in. Wife still works, but our tax bracket will drop to 12%. <skip> As a result, I am thinking of converting as much of my traditional IRA to a Roth as reasonable since my tax bracket will be higher later. 1. Is this a good strategy (anything I'm ...
by cas
Tue Nov 06, 2018 12:21 pm
Forum: Investing - Theory, News & General
Topic: Household statements
Replies: 15
Views: 1171

Re: Household statements

Weird. I called them and the Flagship rep told me that their system is not currently supporting household statements and he did not know when they would be reactivated. If that is really the case I am surprised no one else here is having the same issue...I dunno... I have a vague memory (don't hold...
by cas
Mon Nov 05, 2018 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Can't Create SS Account - Security Questions Mismatch
Replies: 13
Views: 1372

Re: Can't Create SS Account - Security Questions Mismatch

OP - I'd also suggest pulling a credit report from all the agencies and checking for errors. OP - The behavior you describe about asking only questions that aren't relevant and all have a "none of the above" answer is a common complaint when people try to get their credit report online (and are the...
by cas
Sun Nov 04, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Issues
Replies: 5
Views: 1261

Re: IRS Issues

So I want to log onto the IRS site for my return and print the forms and my tax data. But when I tried to set up and log on the IRS wanted to run a credit check against my credit cards before letting me get the data. But I have my credit locked and some other issues. Is unlocking my credit like thi...
by cas
Sat Nov 03, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion - Confirming Tax Analysis
Replies: 10
Views: 764

Re: Roth Conversion - Confirming Tax Analysis

Assuming MFJ and assuming the $105,000 is base salary (before all the pre-tax pay stub deductions) and assuming the $80,000 is after all the pre-tax pay stub deductions, yes ... it looks right to me. If there are any qualified dividends or long term capital gains involved in the $105,000, then thing...
by cas
Wed Oct 31, 2018 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: TLH to create larger Roth conversion ?
Replies: 18
Views: 977

Re: TLH to create larger Roth conversion ?

now i want to do a Roth conversion to fill up remaining room in the 22% bracket (MFJ=165k) since IRMAA MFJ is 170k, we can just aim to fill up the 22% bracket @165k. Also, note that the $165k "top of the 22%" bracket is taxable income (Adjusted Gross Income (AGI) minus standard or itemized deductio...
by cas
Thu Oct 25, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion math - taxes paid from IRA
Replies: 7
Views: 726

Re: Roth Conversion math - taxes paid from IRA

I'm in my early 60s ... My 2018 taxable income is $100,000. I am looking to make the maximum allowable conversion while staying within the 22% bracket ($165,000 MFJ 2018) so I have a $65,000 ceiling with which to make conversions and pay tax. Not what you asked (sorry), but if "early 60s" means 63 ...
by cas
Wed Oct 24, 2018 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Tax planning- Pensions, delaying SS, converting?
Replies: 16
Views: 1050

Re: Tax planning- Pensions, delaying SS, converting?

Since the 24% tax bracket goes to $315,000, I thought about converting Trad to Roth up to the top of that bracket each year for the next 5 years so that they also avoid RMD's and have no pre-tax assets when SS kicks in. This isn't what you asked, but ... Since they are age 65, are they on Medicare ...
by cas
Tue Oct 23, 2018 7:32 am
Forum: Investing - Help with Personal Investments
Topic: MAGI and ROTH IRA Contribution
Replies: 6
Views: 622

Re: MAGI and ROTH IRA Contribution

Don’t forget the standard deduction. Modified AGI for determining Roth IRA eligibility is based on AGI, which is *before* the standard deduction. Standard deduction is relevant to determining taxable income, but not to determining Roth IRA eligibility. (I'm pretty sure you (MotoTrojan) are going to...