Search found 220 matches

by cas
Sun Jan 14, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Estate Planning (Input Requested)
Replies: 14
Views: 1148

Re: Estate Planning (Input Requested)

Any experience with issues using powers of attorney that are more than a few years old, etc. On the POA issue, the attorney is (probably) correct. The "probably" is in there because the difficulties are apparently somewhat dependent on state law. I don't have any personal experience with POAs being...
by cas
Fri Jan 12, 2018 4:15 pm
Forum: Investing - Help with Personal Investments
Topic: Parental portfolio: help simplify and tune up
Replies: 16
Views: 1264

Re: Parental portfolio: help simplify and tune up

This isn't really what you asked, but I had a couple of thoughts reading this thread: 1. Are you and/or your parents familiar with IRMAA (Income Related Medicare Adjustment Amount) and how it works? Their premiums for Medicare Part B and Part D (if they use Pt D rather than having employer-based ret...
by cas
Fri Jan 12, 2018 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: Percentage of VWITX subject to AMT
Replies: 8
Views: 316

Re: Percentage of VWITX subject to AMT

If you go to the Fund Snapshot page for a Vanguard tax-exempt fund, then click on the "Portfolio & Management" tab, one of the items listed is the % of the fund's income that is subject to the AMT (as of whatever date is listed at the top of that table). For example, the info on VWIUX would be found...
by cas
Thu Jan 11, 2018 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Equifax issues
Replies: 14
Views: 1148

Re: Equifax issues

I gues i will have to mail them my info, If what you are trying to accomplish is to get your annual credit report via annualcreditreport.com, many people have discovered that they don't have to mail in the sensitive info (despite what Equifax says). Just use the annualcreditreport.com automated pho...
by cas
Wed Jan 10, 2018 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can't move online $$ from Trust to JTROS at VG
Replies: 13
Views: 503

Re: Can't move online $$ from Trust to JTROS at VG

A possible workaround is to make each of the trust accounts individual accounts, and set the POD to each respective trusts. An extra hassle to put in place now, but seems like it might be a solution. In this scenario, I think the ability would be lost for a co-trustee or successor trustee to manage...
by cas
Wed Jan 10, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Can't move online $$ from Trust to JTROS at VG
Replies: 13
Views: 503

Re: Can't move online $$ from Trust to JTROS at VG

So, is your external bank account a joint account? If so, why would Vanguard transfer money from an individual trust to a joint external account but not a joint Vanguard account? I looked into linking my parents' individual revocable trusts (at Vanguard) to their joint (JTWROS) bank account about a...
by cas
Mon Jan 08, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: ID theft and check cashing fraud
Replies: 87
Views: 4466

Re: ID theft and check cashing fraud

A couple of random thoughts: 1. (This one is paranoid, but shorter, so I'll write it first) Do you think you may be missing any mail from your mailbox? Or that the thief (or the thief's network, as the case may be) may have managed to sign themselves up for that USPS "Informed Delivery" service wher...
by cas
Mon Jan 08, 2018 7:16 am
Forum: Personal Finance (Not Investing)
Topic: locking credit vs. credit freeze
Replies: 7
Views: 593

Re: locking credit vs. credit freeze

From Brian Krebs of Krebs on Security ("Equifax Breach: Setting the Record Straight" https://krebsonsecurity.com/2017/09/equifax-breach-setting-the-record-straight/ ) As I wrote in a Sept. 11 Q&A about the Equifax breach, I take strong exception to the credit bureaus’ increasing use of the term “cre...
by cas
Sun Jan 07, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: ID theft and check cashing fraud
Replies: 87
Views: 4466

Re: ID theft and check cashing fraud

The 3rd one wouldn't allow the freeze to be placed online. It requires snail mail! Maddening. Chexsystems is next. Back after the Equifax hack, when a lot of people were attempting to freeze their credit reports, I seem to recall quite a few people who weren't able to place the freeze online, but w...
by cas
Sun Jan 07, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Managing and Investing Trust Assets
Replies: 16
Views: 1063

Re: Managing and Investing Trust Assets

... thus helps keep our estate under the exemption, and use (irrevocable) trust money for long-term wealth creation? i.e., make all capital purchases and investments with trust money, thus sheltering from estate tax most of the assets expected to be transferred to the next generation. You may well ...
by cas
Fri Jan 05, 2018 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Managing and Investing Trust Assets
Replies: 16
Views: 1063

Re: Managing and Investing Trust Assets

I'm not any kind of expert, but... House in trust: back a decade or more ago, my parents were working with an estate planning attorney to set up a plan. One issue was how to pass down the family farm (which includes a house.) The estate planning attorney was all gung-ho to do something involving one...
by cas
Thu Jan 04, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: ID theft and check cashing fraud
Replies: 87
Views: 4466

Re: ID theft and check cashing fraud

I've never used it, so I don't know how useful it is, but the FTC has a whole website dedicated to helping people "report and recover from" identity theft: https://www.identitytheft.gov/
by cas
Thu Jan 04, 2018 8:17 am
Forum: Personal Finance (Not Investing)
Topic: ID theft and check cashing fraud
Replies: 87
Views: 4466

Re: ID theft and check cashing fraud

I'm sorry for your troubles. If you have not read it already, you may find the Boglehead's wiki article "Credit Freeze" useful: https://www.bogleheads.org/wiki/Credit_freeze Whoever did this seems to be rather knowledgeable about exactly what to do with each piece of information, plus possibly be li...
by cas
Sun Dec 31, 2017 2:48 pm
Forum: Investing - Help with Personal Investments
Topic: Wells Fargo Target Retirement 2030 [fund drop due to distribution question]
Replies: 9
Views: 507

Re: Wells Fargo Target Retirement 2030 [fund drop due to distribution question]

Here's the fund: MMIZX. Maybe I worded it incorrectly, the fund had an 18% drop in one day, and dividends were 4.48 according to this page: https://seekingalpha.com/symbol/MMIZX/key-data/dividends-and-splits The seekingalpha page seems to be using the word "dividend" incorrectly to mean "distributi...
by cas
Sun Dec 31, 2017 10:05 am
Forum: Investing - Help with Personal Investments
Topic: Wells Fargo Target Retirement 2030 [fund drop due to distribution question]
Replies: 9
Views: 507

Re: Wells Fargo Target Retirement 2030 [fund drop due to distribution question]

An S&P 500 index fund should not have been distributing that much in capital gains distributions. S%P 500 does not pay 18% in dividends. You are right - a healthy S&P 500 fund shouldn't have that level of capital gains distributions. Nevertheless, some do. My best guess is that they are funds that ...
by cas
Sat Dec 30, 2017 4:32 pm
Forum: Personal Consumer Issues
Topic: We bought a house in June, and the ac & furnace system do not work. What should we do?
Replies: 49
Views: 3450

Re: We bought a house in June, and the ac & furnace system do not work. What should we do?

First - It is predicted to be brutally cold in Ohio - below zero lows all week. That is dangerous cold. Get the furnace fixed, or, if you can't do that in time, please drain all your pipes (otherwise you will have much worse problems than a $500 furnace repair) and seek shelter someplace with heat. ...
by cas
Sat Dec 30, 2017 7:55 am
Forum: Investing - Theory, News & General
Topic: ATTENTION: Vanguard 529s? - Better Check Your Balance(s)
Replies: 44
Views: 2821

Re: ATTENTION: Vanguard 529s? - Better Check Your Balance(s)

Checked Vanguard 529 account balances this morning and it showed there was no money in there! Money was in there yesterday and no transactions have taken place. I checked after reading your post, and can report the same situation ($0 balance for 529s where there shouldn't be). So I'm inclined to th...
by cas
Fri Dec 29, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Medicare choices unclear while still employed
Replies: 7
Views: 450

Re: Medicare choices unclear while still employed

Since nobody else has mentioned it, if you are still receiving a salary, make sure you know how the Income Related Medicare Adjustment Amount (IRMAA) would apply in your situation. I'm sure IRMAA must be discussed the book. (Medicare Pt B and D premiums go up in steps as income goes up. MAGI thresho...
by cas
Fri Dec 29, 2017 9:20 am
Forum: Personal Finance (Not Investing)
Topic: long term capital gain distribution tax
Replies: 8
Views: 600

Re: long term capital gain distribution tax

Note that if adding in the LTCG distribution causes your taxable income (Line 43 of Form 1040) to go above the ceiling for the 15% bracket, the amount of the LTCG distribution that "sticks up above" the 15% ceiling threshold will be taxed at 15%. (Or, at much higher incomes, part might be taxed at 2...
by cas
Tue Dec 26, 2017 10:28 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio for a Trust with tight requirements
Replies: 15
Views: 977

Re: Portfolio for a Trust with tight requirements

No doubt some insurance company somewhere has figured out how to create a SPIA for an irrevocable trust, but... Technically, an irrevocable trust doesn't have a lifespan, so is it even possible for a SPIA to be purchased in the name of an irrevocable trust? Somehow the SPIA would have to "look throu...
by cas
Tue Dec 26, 2017 10:15 am
Forum: Investing - Help with Personal Investments
Topic: How much to covert to Roth?
Replies: 27
Views: 2388

Re: How much to covert to Roth?

[Edit: OP made a correction for a missed personal exemption while I was typing this. So the numbers are a bit different from what is now in the post.] My 401K rollover has been deposited into Vanguard...now just figuring out my expected taxes (please check my math) and how much to covert to Roth. 20...
by cas
Sun Dec 24, 2017 8:42 am
Forum: Investing - Help with Personal Investments
Topic: Intentionally realize gains to offset large loss carryforward?
Replies: 8
Views: 762

Re: Intentionally realize gains to offset large loss carryforward?

His loss carryforward is still valuable. He can use $3k/year to offset his limited ordinary income (including some Roth conversion income), and the balance can offset future gains realized from rebalancing (or selling stocks if he wants his portfolio to become more conservative over time). Warning:...
by cas
Sat Dec 23, 2017 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: Sell taxable while in 0% capital gains bracket (to help cost basis)?
Replies: 16
Views: 1323

Re: Sell taxable while in 0% capital gains bracket (to help cost basis)?

I do know that Vanguard will let me switch from average cost to SpecID; I tried it and it worked. When I switched to SpecID it looked something like this (sorry, don't have a screenshot): $7k Non-covered shares $4k cost at time of purchase $1k cost at time of purchase $3k cost at time of purchase $...
by cas
Sat Dec 23, 2017 8:26 am
Forum: Investing - Help with Personal Investments
Topic: Sell taxable while in 0% capital gains bracket (to help cost basis)?
Replies: 16
Views: 1323

Re: Sell taxable while in 0% capital gains bracket (to help cost basis)?

I do not believe you can switch to Specific ID once you have started using average (or any other) basis for a fund. In another thread, I made a similar assertion, and somebody pointed out to me that the rules got more complex when covered shares were introduced. "Changing Cost Basis Methods" http:/...
by cas
Fri Dec 22, 2017 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion strategies for 2018 and beyond?
Replies: 13
Views: 1471

Re: Roth conversion strategies for 2018 and beyond?

FIREchief wrote:
Fri Dec 22, 2017 4:13 pm
It has to do with asset protection.
Thanks.
by cas
Fri Dec 22, 2017 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion strategies for 2018 and beyond?
Replies: 13
Views: 1471

Re: Roth conversion strategies for 2018 and beyond?

FIREchief wrote:
Fri Dec 22, 2017 2:09 pm
There may be a slight benefit to segregating any tIRA funds that came from ERISA plan rollovers (versus annual contributions) into a separate Roth,
FIREchief, could you elaborate a bit more on your thinking that led to the above comment?

Thanks!
by cas
Thu Dec 21, 2017 9:20 am
Forum: Personal Consumer Issues
Topic: unstoppable TransUnion spam
Replies: 6
Views: 612

Re: unstoppable TransUnion spam

Your concern, of course, is how to get rid of the spam. Unfortunately, I have no wise words about that. But here's a bit of backstory on why you are receiving it. (In particular, note this sentence at the end of Brian Kreb's article (quoting from the TrueIdentity terms of service agreement): " For t...
by cas
Tue Dec 19, 2017 11:50 am
Forum: Investing - Help with Personal Investments
Topic: What happened to WFIOX (Wells Fargo Index Fund - Class Admin)
Replies: 5
Views: 339

Re: What happened to WFIOX (Wells Fargo Index Fund - Class Admin)

It appears to have paid out a massive capital gains distribution (15%-18% of its value).* The thing to note is that this sort of massive capital gains distribution is Not Normal for a healthy S&P 500 Index Fund (which is what Morningstar indicates that Wells Fargo Index (WFIOX) is.) (Most healthy S&...
by cas
Sat Dec 16, 2017 11:30 am
Forum: Investing - Help with Personal Investments
Topic: 2017 tax help
Replies: 20
Views: 1831

Re: 2017 tax help

- yes, this year's LTCG means that in two years, for one year, your combined Medicare premiums will be ~$1300 higher than they would have been. Just to correct myself, I was looking at the wrong numbers from the "napkin math" post when I initially wrote about you being near the $170,000 threshold f...
by cas
Sat Dec 16, 2017 9:20 am
Forum: Investing - Help with Personal Investments
Topic: 2017 tax help
Replies: 20
Views: 1831

Re: 2017 tax help

I lost track somewhere along the thread on whether you are still considering Roth conversions for 2017, in addition to all the other income. If so ... careful: For 2017, you look like you are already very close to the $170,000 (MFJ) income threshold where your Medicare Part B and D premiums (for 201...
by cas
Tue Dec 12, 2017 7:00 am
Forum: Investing - Help with Personal Investments
Topic: Changing cost basis on Noncoverd shares
Replies: 22
Views: 1584

Re: Changing cost basis on Noncoverd shares

If it [the page where you enter the requested sale of covered shares] does give you an option to choose just the covered shares, make sure you take screen shots of the screen where you select just the covered shares (showing that you selected them) and, if the confirmation screen also shows proof o...
by cas
Tue Dec 12, 2017 6:43 am
Forum: Investing - Help with Personal Investments
Topic: Changing cost basis on Noncoverd shares
Replies: 22
Views: 1584

Re: Changing cost basis on Noncoverd shares

I think - but do not know for sure - that if you switch to Specific ID for the fund, you will regain the option to specify whether to sell the covered shares or the non-covered shares. So, you would be able to do your Transaction 1. (Selling all the covered shares you have.) And I think that Vanguar...
by cas
Mon Dec 11, 2017 1:44 pm
Forum: Investing - Help with Personal Investments
Topic: Changing cost basis on Noncoverd shares
Replies: 22
Views: 1584

Re: Changing cost basis on Noncoverd shares

You may want to read this: "Changing Cost Basis Methods" http://fairmark.com/investment-taxation/mutual-fund-tax-guide/averaging/changing/ (Or, to get it from the horse's mouth, IRS Publication 550, starting about p. 46 https://www.irs.gov/pub/irs-pdf/p550.pdf . ) From the Fairmark article: For nonc...
by cas
Sun Dec 10, 2017 7:32 am
Forum: Investing - Help with Personal Investments
Topic: Fraud/401k sales and the elderly parent
Replies: 15
Views: 1877

Re: Fraud/401k sales and the elderly parent

3) The real boglehead question: given the source of the money was his 401k, the 360k he pulled out is taxable to my understanding. He lived on social security and a small amount of monthly withdrawals from taxable and 401k until this event. So please correct me if I am wrong but the 360k he pulled ...
by cas
Sat Dec 09, 2017 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Exchanging managed funds for Indexed funds
Replies: 10
Views: 591

Re: Exchanging managed funds for Indexed funds

in a taxable vanguard account i have a mix of indexed and managed funds - i have learned in the past 5 years to only purchase index funds to avoid the yearly tax penalty that comes from managed funds - we have about $ 90,000 in profits in the managed funds plus another $ 40,000 in profits from abou...
by cas
Fri Dec 08, 2017 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Making Best Use of Being in 15% Income Tax Bracket This Year
Replies: 22
Views: 3053

Re: Making Best Use of Being in 15% Income Tax Bracket This Year

Additional complication that should be on your radar: You don't want to pay the taxes for any conversion using the conversion money itself. (Penalties for early Trad IRA withdrawal would pop into existence.) But ... if conversions cause you to end up with income over the top of the 15% bracket and i...
by cas
Fri Dec 08, 2017 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: Making Best Use of Being in 15% Income Tax Bracket This Year
Replies: 22
Views: 3053

Re: Making Best Use of Being in 15% Income Tax Bracket This Year

I would like to hear more thoughts on the updated decision here: realize $13k of capital gains, convert $13k of Trad IRA money to ROTH, or convert $60k of Trad money (most of it at the 25% federal + 6% state rate) to clear out my Trad account and set up better for a Backdoor ROTH in future years? W...
by cas
Fri Dec 08, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversions: how far should I go in 2017?
Replies: 15
Views: 1413

Re: Roth conversions: how far should I go in 2017?

1year23, Medicare premiums are based on your annual income. To determine your income at age 65, they look at your tax returns for prior ages 64 and 63. Before reading cas' post, I would have said Roth conversions artificially inflate your income. Now I'm not sure. To make things even more confusing...
by cas
Thu Dec 07, 2017 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversions: how far should I go in 2017?
Replies: 15
Views: 1413

Re: Roth conversions: how far should I go in 2017?

c) In 2017, convert up to Roth contribution income phase-out, which begins at 118K of income. Re-evaluate next year. d) In 2017, convert to top of 28% bracket which is 191,650. Cons: - Lose my 2017 Roth contribution. I guess I can recharacterise he contribution into a new tIRA in 2018 .. leaving me...
by cas
Wed Dec 06, 2017 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Input on HSA Providers
Replies: 4
Views: 456

Re: Input on HSA Providers

Morningstar has a PDF comparing many of the larger plans: http://corporate1.morningstar.com/ResearchLibrary/article/813893/2017-health-savings-account-landscape/ There are also multiple threads on it here if you search. Best HSA (2017) http://www.bogleheads.org/forum/viewtopic.php?t=207051 It depen...
by cas
Wed Dec 06, 2017 6:31 am
Forum: Investing - Help with Personal Investments
Topic: Making Best Use of Being in 15% Income Tax Bracket This Year
Replies: 22
Views: 3053

Re: Making Best Use of Being in 15% Income Tax Bracket This Year

Not sure about the future tax brackets. I plan/hope to have at least $170k-200k income for about the next 10 years. As my wealth increases I could downsize for better worklife balance, or perhaps my income will continue to grow. I'm not sure at this point. Apologies if this is information you alrea...
by cas
Wed Dec 06, 2017 6:16 am
Forum: Personal Finance (Not Investing)
Topic: HSA Info
Replies: 8
Views: 729

Re: HSA Info

The Boglehead's wiki on "Health Savings Accounts" has a lot of information that you may find useful: https://www.bogleheads.org/wiki/Health_savings_account For example, the "Withdrawals" section gives details talks about using receipts in future years and about how the HSA can be used like an IRA pa...
by cas
Tue Dec 05, 2017 8:51 am
Forum: Investing - Help with Personal Investments
Topic: Medicare and retirement for high earner
Replies: 49
Views: 2499

Re: Medicare and retirement for high earner

I have worked past the retirement age in the vain hope to get the house paid off and some cash on hand. . . . <skip> . . . Yesterday I received a letter in the mail from the SSA informing me that based on my 2016 income tax filing I am going to be charged 463.00 a month for just Part 'B' because of...
by cas
Sun Dec 03, 2017 6:42 am
Forum: Personal Finance (Not Investing)
Topic: Why was my 2016 tax so low?
Replies: 19
Views: 2204

Re: Why was my 2016 tax so low?

The income I mentioned was the income found on line 43 on my return. Since dividends and capital gains are reported on lines 9 and 13, wouldn't that mean that they are already included in the number reported on line 43? The dividends are included in line 43, but your $1127 in qualified dividends ar...
by cas
Fri Dec 01, 2017 5:57 am
Forum: Investing - Help with Personal Investments
Topic: Roth conversions prior and after required minimum distributions.
Replies: 9
Views: 849

Re: Roth conversions prior and after required minimum distributions.

I want to stay in the 15% tax bracket so I estimate other income and convert what I can to bring taxable income up to about 75k where the 25% bracket begins. I convert mine first since I'm older. I think it is a good plan but someone here may think of something that I have overlooked. Thanks for th...
by cas
Thu Nov 30, 2017 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1827

Re: Please help with this cost basis nightmare!

Either way, since she'll basically be paying zero tax on the majority of this anyway, I think any of these approaches as long as they're somewhat logical that we made an attempt, I would think should be just fine. The biggest side effect I see of a really low-ball estimate on the cost basis is that...
by cas
Thu Nov 30, 2017 9:42 am
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1827

Re: Please help with this cost basis nightmare!

No idea what to do beyond that [pre-2002 when availablity of tax return records ceases], hoping to figure out a way to estimate, or will be stuck using $0 as the cost basis I think you can do better than $0. At the very worst, you can determine the very lowest price paid for DTE stock between 1/1/1...
by cas
Thu Nov 30, 2017 8:38 am
Forum: Investing - Help with Personal Investments
Topic: Please help with this cost basis nightmare!
Replies: 22
Views: 1827

Re: Please help with this cost basis nightmare!

Now, maybe I will try to contact them and see how I can get a hold of the amount of dividends that where paid out to her annually prior to 2002 when the records go away. If I can find that, I could split into 4 chunks, estimate based on all of the previous dividends being paid on the 15th of the mo...
by cas
Thu Nov 30, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Taxes
Replies: 6
Views: 889

Re: Social Security Taxes

Another article explaining it is the Boglehead's wiki article "Taxation of Social Security Benefits": https://www.bogleheads.org/wiki/Taxatio ... y_benefits

It has some pictures (graphs), if that helps the thorough written explanation in the Kitces article click in.
by cas
Thu Nov 30, 2017 3:56 am
Forum: Investing - Help with Personal Investments
Topic: Help me help my mom -- moving taxable account from Raymond James to Vanguard
Replies: 7
Views: 754

Re: Help me help my mom -- moving taxable account from Raymond James to Vanguard

I had never thought much about taxable accounts or retirement portfolios, so I could use some help as I try to learn this stuff. . . . She also wants to sell 200k worth of stocks in the Raymond James account and move them to CDs [/u]. Leaving aside the family dynamics issues involved with rearrangi...