Search found 118 matches

by feehater
Wed Jan 23, 2019 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Forming an LLC to avoid being paid as an independent contractor?
Replies: 21
Views: 1326

Re: Forming an LLC to avoid being paid as an independent contractor?

Most self-employed people charge a premium to make up for the extra costs of not being an employee. I've seen people on this board say anywhere from 10%-40% extra. Put another way, if these guys are offering you the exact same wage/salary but letting you choose which system, being an employee is a b...
by feehater
Tue Jan 15, 2019 8:28 pm
Forum: Investing - Help with Personal Investments
Topic: Need Advice on Building Taxable Account
Replies: 12
Views: 987

Re: Need Advice on Building Taxable Account

2055 Retirements funds are not so cheap. AFAIK they have an E.R of 0.69 A little bit of ER is a small price to pay against the alternative when the OP has a history of stock picking... Fidelity carries actively managed Target date funds as well as passive index target date funds. The ER for FDEWX (...
by feehater
Fri Jan 11, 2019 9:51 am
Forum: Personal Consumer Issues
Topic: Best Military Credit Card
Replies: 11
Views: 865

Re: Best Military Credit Card

CSR is a good one. That is probably the best since you travel a lot. Amex Platinum also waives fees for military and has no foreign transaction fees. Both those cards also come with a Global Entry reimbursement, free lounges, etc. If you want to get fancy/greedy, you could each have your own account...
by feehater
Sun Jan 06, 2019 10:05 am
Forum: Investing - Help with Personal Investments
Topic: Should I open a 403(b)?
Replies: 24
Views: 969

Re: Should I open a 403(b)?

I am going to differ slightly from the consensus. Do I think someone saving $6k per month towards retirement and other very long term goals should max all of those opportunities? Absolutely. But you also said that you are living with your folks and want that to end in two years. So I'm wondering if ...
by feehater
Sat Dec 29, 2018 9:39 am
Forum: Investing - Help with Personal Investments
Topic: How to allocate spouse TRS refund
Replies: 8
Views: 380

Re: How to allocate spouse TRS refund

Just making sure you are not mixing up IRA contribution limits (6k) with rollover limits ( there are none)? Unless you are talking about some special rules in the pension account, you are definitely allowed by the IRS to roll an entire pre-tax account (like this pension, I assume) into another one, ...
by feehater
Sat Dec 29, 2018 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Implications of parents paying off child's mortgage
Replies: 22
Views: 2073

Re: Implications of parents paying off child's mortgage

If this parental payoff has to happen in order to qualify for the mortgage on the second house, then you also have to worry about what you tell the mortgage company during the application. If it's a gift, they may require a signed form from your parents saying that. If it's a loan, well, then you ha...
by feehater
Fri Dec 28, 2018 10:06 am
Forum: Investing - Help with Personal Investments
Topic: Sep IRA and Solo 401k
Replies: 28
Views: 1251

Re: Sep IRA and Solo 401k

You said you'd already contributed to the sep? You're not allowed to have an active sep ira and a solo 401k and contribute to them both for the same year (except with a rare type of sep that you probably don't have). I'm pretty sure this means you can't contribute a penny to either side of the solo ...
by feehater
Mon Dec 17, 2018 6:36 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Account Questions
Replies: 1
Views: 236

Re: Retirement Account Questions

I vote for the solo 401k. It's not that complex, and you can save a lot more of her income for this year in it than in a SEP. It also leaves open the back door Roth IRAs that you will need to start doing once you get the pay bump. For this year you should max out her solo 401k and a Roth IRA for eac...
by feehater
Sun Dec 09, 2018 9:09 am
Forum: Personal Consumer Issues
Topic: Apple Store For Vets & Active Military
Replies: 9
Views: 1406

Re: Apple Store For Vets & Active Military

I looked up an iPad Pro I've been thinking about buying, and it is still cheaper to go to bhphotovideo.com. Oh well, good to know about the discount anyway!
by feehater
Thu Dec 06, 2018 4:08 pm
Forum: Investing - Help with Personal Investments
Topic: Savings Plan for a Sole Proprietor - Backdoor SEP?
Replies: 12
Views: 792

Re: Savings Plan for a Sole Proprietor - Backdoor SEP?

At that income level a solo 401k is by far your best option. You can put away your 19k employee contribution, your 20% employer contribution, and still be in the clear for a backdoor Roth IRA. No reason to pay any extra fees at all. Many of us here use fidelity or vanguard, which both have slightly ...
by feehater
Sat Dec 01, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning for new military member - multiple questions
Replies: 36
Views: 2149

Re: Financial planning for new military member - multiple questions

3.1 and 3.2: The 60 day point is the maximum time before they auto enroll you, not the minimum time before you can enroll. The actual limiting factor is getting into all of the right payroll systems and websites you need to finally make an election. The minute he has access to this site (mypay? Can'...
by feehater
Thu Nov 29, 2018 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Gift tax question
Replies: 175
Views: 6917

Re: Gift tax question

Here is a question (unrelated to the gift vs loan). We have $150k in Roth IRAs. Do you think those could be considered liquid accounts since principal is withdrawable? Not sure if anybody answered this. I tried to make this argument to my lender when I was closing on a mortgage and they refused to ...
by feehater
Sat Nov 24, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Black Swan Event for Health Insurance between Jobs: COBRA vs Obamacare Exchange?
Replies: 35
Views: 1753

Re: Black Swan Event for Health Insurance between Jobs: COBRA vs Obamacare Exchange?

tjhar wrote:
Sat Nov 24, 2018 12:22 pm

I just realized that I can signup for Obamacare in the state I am moving to and have it start on Jan 1st, and my employer will cover me until Dec 31st. .
But can you still do this without an address in the new state, since you said you wouldn't know that before the move?
by feehater
Fri Nov 09, 2018 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: How to correctly determine if Roth IRA need to be backdoor or not?
Replies: 5
Views: 659

Re: How to correctly determine if Roth IRA need to be backdoor or not?

Just since no one else mentioned it, have you looked into opening a solo 401k for your wife's 1099 income where you could stash whatever "employee" contributions you don't quite max out at her w2 job, plus a percentage of her 1099 income as her own "employer?"
by feehater
Fri Nov 09, 2018 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: Kitces article - coordinating multiple defined contribution plans
Replies: 8
Views: 961

Re: Kitces article - coordinating multiple defined contribution plans

401a plan employee pre-tax contributions are considered mandatory contributions and are not considered employee elective contributions subject to the 402g employee elective contribution limit (2018 = $18.5K). I just learned (while rolling things into the TSP) that the TSP is technically a 401a plan...
by feehater
Fri Nov 09, 2018 9:45 am
Forum: Investing - Help with Personal Investments
Topic: Kitces article - coordinating multiple defined contribution plans
Replies: 8
Views: 961

Re: Kitces article - coordinating multiple defined contribution plans

401a plan employee pre-tax contributions are considered mandatory contributions and are not considered employee elective contributions subject to the 402g employee elective contribution limit (2018 = $18.5K). I just learned (while rolling things into the TSP) that the TSP is technically a 401a plan...
by feehater
Fri Nov 09, 2018 8:54 am
Forum: Personal Consumer Issues
Topic: United MileagePlus - Confused and looking for cheaper options
Replies: 26
Views: 2134

Re: United MileagePlus - Confused and looking for cheaper options

If nothing else above worked, could you not just buy the $700 tickets on the capital one card and then get the statement credit for $540 of it? Not totally free but still cheaper than buying miles from United!
by feehater
Tue Nov 06, 2018 12:18 pm
Forum: Personal Consumer Issues
Topic: Car buying: New vs. Used IF you keep it for 8+ years paying cash.
Replies: 16
Views: 2447

Re: Car buying: New vs. Used IF you keep it for 8+ years paying cash.

Do the math. It depends on the car. Buy a new Civic Si. Pay $23,000 after bargaining hard. In 8 years, it's worth $12,000. Buy a 3 year old Civic Si. Pay $22,999 after bargaining hard. In 8 years, it's worth $7000. Buy the new Civic (or Wrangler or Tacoma or....) In your example the optimal strateg...
by feehater
Fri Nov 02, 2018 9:26 am
Forum: Investing - Help with Personal Investments
Topic: Just starting out at 39 yrs old.
Replies: 37
Views: 5415

Re: Just starting out at 39 yrs old.

OP, Here is the recent article which is why this is on everyone's radar: https://www.nytimes.com/2018/09/27/business/student-loan-forgiveness.html Hopefully you are paid as a normal full time employee for your government job, and your LLC is for extra side work? At the end of every year do you get a...
by feehater
Wed Oct 24, 2018 2:30 pm
Forum: Investing - Help with Personal Investments
Topic: Questions about saving for retirement - need basic advice
Replies: 15
Views: 1217

Re: Questions about saving for retirement - need basic advice

One thing to be aware of in the traditional vs. Roth IRA debate is that there are certain cliffs for ACA subsidies and also for the Savers credit that you might be able to get below with traditional and not with Roth. Just something to do some math on if you want to totally maximize things.
by feehater
Sun Oct 21, 2018 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Stealing ID using only name and SSN
Replies: 16
Views: 1368

Re: Stealing ID using only name and SSN

Someone walked into a Best Buy and opened an account with Verizon in my name with just that info plus my address. Got two brand new iPhones on credit which I assume they resold immediately. Verizon told me they are supposed to check IDs but could have probably done it just with ssn and address. (I ...
by feehater
Sun Oct 21, 2018 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Stealing ID using only name and SSN
Replies: 16
Views: 1368

Re: Stealing ID using only name and SSN

Someone walked into a Best Buy and opened an account with Verizon in my name with just that info plus my address. Got two brand new iPhones on credit which I assume they resold immediately. Verizon told me they are supposed to check IDs but could have probably done it just with ssn and address. (I h...
by feehater
Fri Oct 19, 2018 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Banking 1% extra back up to $1,000 on new money deposited
Replies: 562
Views: 59920

Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Here's another data point on opening a savings account: I had a no-penalty CD last year that is now closed, and no other accounts with Ally. In this order I: 1. Unfroze TransUnion credit report. 2. Logged in to Ally with my old login. It displayed a screen that said "you have no current accounts wit...
by feehater
Tue Sep 18, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America credit card “feature” (be careful with autopay)
Replies: 45
Views: 3000

Re: Bank of America credit card “feature” (be careful with autopay)

Does BOA even have a standard "pay the full amount of last month's bill" autopay setting? As far as I know, there are 2 ways autopay can be setup with BoA: Using the Bill Pay system. It will setup the credit card to generate an eBill, and a payment is scheduled based on that eBill and your choice t...
by feehater
Tue Sep 18, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America credit card “feature” (be careful with autopay)
Replies: 45
Views: 3000

Re: Bank of America credit card “feature” (be careful with autopay)

Does BOA even have a standard "pay the full amount of last month's bill" autopay setting? I looked and looked for it about a year ago and could only find stupid other autopay settings (like, pay the exact same dollar amount every month). So for BOA I just do a "push" auto pay from my bank's bill pay...
by feehater
Sun Sep 09, 2018 1:51 pm
Forum: Investing - Help with Personal Investments
Topic: 1099 income--Solo 401k or something else?
Replies: 9
Views: 611

Re: 1099 income--Solo 401k or something else?

Yes, the account needs to be set up by 12/31 but can be empty at that point. You also are supposed to fill out a form by 12/31 declaring your employee contributions for 2018. (You keep that form for your own records.) However, the actual contributions don't have to be deposited until your tax deadli...
by feehater
Fri Aug 31, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Schedule C 1099-MISC solo 401K query
Replies: 6
Views: 432

Re: Schedule C 1099-MISC solo 401K query

As a sole proprietor, both your employer and employee contributions go on the 1040, on the line where you subtract contributions to qualified plans. The line on the schedule c you are referring to would be if you contributed to retirement plans for your employees.
by feehater
Tue Aug 21, 2018 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Union at Fed job
Replies: 20
Views: 1999

Re: Union at Fed job

Despite what multiple posters have said, unions haven't been able to require dues for political activities since the Abood Supreme Court decision in 1977. On a more practical level, you will be represented by this union whether you join or not. You might save some money by not joining, but the the n...
by feehater
Fri Aug 03, 2018 9:42 am
Forum: Investing - Theory, News & General
Topic: Using 529 Like a 401k (not for education!)
Replies: 8
Views: 1397

Re: Using 529 Like a 401k (not for education!)

Well, I'd say that if I invest in it with a 30-yr time frame like my 401k, and it doesn't have any gains at all, then we've got bigger problems than what account I kept it in!
by feehater
Thu Aug 02, 2018 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Options & Taxes as Contractor/Freelancer? Teach me everything!
Replies: 5
Views: 403

Re: Retirement Options & Taxes as Contractor/Freelancer? Teach me everything!

OK, so you will most likely be filing for 2018 as married, filing jointly. That means all the money both of you have withheld for both your w2 jobs will be counted against all of the taxes you owe as a couple, including your income and SE taxes. For him that probably means he will pay a lower tax ra...
by feehater
Thu Aug 02, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Options & Taxes as Contractor/Freelancer? Teach me everything!
Replies: 5
Views: 403

Re: Retirement Options & Taxes as Contractor/Freelancer? Teach me everything!

If you're really opposed to paying estimated taxes you could also increase your withholding at your W-2 job since it all goes to the same place. I would recommend at least calculating what you owe, since it is always a painful surprise to see that large SE tax bill. As for retirement accounts, the o...
by feehater
Wed Jul 25, 2018 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Wire transfers from internet banks (CapOne 360)
Replies: 12
Views: 1493

Re: Wire transfers from internet banks (CapOne 360)

Bizarre. Here's a section of their website that addresses what I did: https://www.capitalone.com/checking-accounts/online-checking-account/disclosures/#wirefundstransferdisclosurestatement "You will have the option of sending a wire transfer to your confirmed linked checking account or a title compa...
by feehater
Sat Jul 21, 2018 9:08 am
Forum: Investing - Theory, News & General
Topic: Acceptable uses...New Financial Chromebook
Replies: 35
Views: 4980

Re: Acceptable uses...New Financial Chromebook

And you should be plugging this into the internet via an Ethernet port right? Or do chromebooks not have those? If not, you need to be doing all sorts of firmware updates to your WiFi router and considering whether you want it on the same network as everything else in your house, right?
by feehater
Mon Jul 16, 2018 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Wire transfers from internet banks (CapOne 360)
Replies: 12
Views: 1493

Re: Wire transfers from internet banks (CapOne 360)

Capone 360 does wire transfers to escrow companies. I just did one a few months ago. There is a form on their website and as long as you submit it before a certain time (2 pm?) is guaranteed to go out that day. Worked great for me out of a MM account.
by feehater
Sun Jul 08, 2018 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: disability insurance
Replies: 15
Views: 1011

Re: disability insurance

Dont know if this applies to you, but if you are female and planning on having a child at some point, short term disability through your employer is sometimes a way to get income during a maternity leave.
by feehater
Tue Jun 26, 2018 8:03 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 177
Views: 24018

Re: IRS publishes draft 2018 1040 - Huge changes made

So now a self employed person will need to include four extra schedules instead of two? So much simpler!
by feehater
Mon Jun 25, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage pre-approval questions
Replies: 12
Views: 1146

Re: Mortgage pre-approval questions

There's a difference between pre-qualification and pre approval. The former is basically useless. The latter involves basically doing a simple mortgage application including showing your bank statements and a hard credit check. It only is valid for 60-90 days. Therefore, you shouldn't do it too earl...
by feehater
Sun Jun 24, 2018 9:00 am
Forum: Personal Finance (Not Investing)
Topic: help me figure out the best retirement account type for my situation (i401k, 403b, etc.)
Replies: 4
Views: 505

Re: help me figure out the best retirement account type for my situation (i401k, 403b, etc.)

You are limited to 18.5k as your "employee" contribution whether you put it in the 403b, your solo 401k, or a combination of both. Beyond that, your solo 401k will allow you to put in about 20% of your net business income, but in traditional only, not Roth. There are online calculators that will tel...
by feehater
Wed Jun 20, 2018 11:01 am
Forum: Personal Consumer Issues
Topic: Surprise - Costco sells - but does not install vehicle batteries
Replies: 85
Views: 7016

Re: Surprise - Costco sells - but does not install vehicle batteries

WhiteMaxima wrote:
Wed Jun 20, 2018 10:59 am
Takes 10 min to install a new battery. Would you pay others $50 install fee?
Most places do it for free. Including stores like Napa, advance Auto parts, etc.
by feehater
Mon Jun 18, 2018 11:35 am
Forum: Personal Consumer Issues
Topic: Where to purchase an used clarinet for a student - Amazon vs. store?
Replies: 14
Views: 915

Re: Where to purchase an used clarinet for a student - Amazon vs. store?

You'll need to develop a relationship with a local person who can tune it up once in a while. So if you find one on Craigslist take it to a local person and have them look it over and tell you if it's in good shape, or how much it will cost to bring it into good shape. ^This. If you buy it used and...
by feehater
Mon Jun 18, 2018 5:17 am
Forum: Investing - Theory, News & General
Topic: New Capital One 360 ACH limits
Replies: 63
Views: 16606

Re: New Capitol One 360 ACH limits

Been doing the same. Their recent redesign has made simple tasks frustrating. I miss when it was ING. Agree 100%. A "simple" interface makes tasks more complicated in this case. I recently was applying for a mortgage and needed a mid-month statement to show my account balances. I called customer se...
by feehater
Sun Jun 10, 2018 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Are insurance rates non-negotiable/fixed?
Replies: 13
Views: 697

Re: Are insurance rates non-negotiable/fixed?

I have never had an insurance company change their rates for me, even as I was calling to cancel to move to a different company that hsd better rates. I have heard of independent insurance agencies that claim they can get you better rates from a company than you could on your own, because of bulk ba...
by feehater
Fri Jun 08, 2018 10:01 pm
Forum: Investing - Help with Personal Investments
Topic: Individual Roth 401K For Young Adult Musician
Replies: 6
Views: 536

Re: Individual Roth 401K For Young Adult Musician

The solo 401k only requires annual paperwork once its holdings are above 250k. I just came here to say that at that income, she should make sure she is getting the performing artists deduction that is on the 1040.
by feehater
Mon Jun 04, 2018 7:42 pm
Forum: Investing - Help with Personal Investments
Topic: Business Income - Solo 401(k) - open the Roth BackDoor
Replies: 3
Views: 321

Re: Business Income - Solo 401(k) - open the Roth BackDoor

Yes, if she will have schedule c income this year you could do this. Fidelity is a common one people here use that takes incoming rollovers (vanguard doesn't). In order to set one up you will have to get an EIN from the IRS website which takes about 2 minutes and doesn't change anything else about h...
by feehater
Sun May 27, 2018 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Best Available 2018 tax estimator
Replies: 44
Views: 9878

Re: Best Available 2018 tax estimator

cadreamer2015 wrote:
Sun May 27, 2018 5:55 am
Do any of these 2018 tax estimators handle the 20% deduction/exclusion for self employment income?
I have not found one yet. I think this I'd because the irs has not yet issued final guidance on exactly where on the form/how this is going to work.
by feehater
Sun May 20, 2018 12:14 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 51491

Re: "Why 97% of People Don't Use 529 College Savings Plans."

i don't understand why 529 threads always end up being so long. if you can max out your 401k, that alone puts you in the top 90th percentile of americans. add in maxing the IRA, probably bumps your into 95th percentile. add in maxing a HSA (stealth IRA) and yep, you're 97th percentile now. so if yo...
by feehater
Fri May 11, 2018 9:18 pm
Forum: Investing - Help with Personal Investments
Topic: Just started a summer job. Should i start using them for their 401k?
Replies: 27
Views: 2011

Re: Just started a summer job. Should i start using them for their 401k?

If you are only working for the summer and then part time, it is probably safe to assume you are going to be paying little to no income taxes. So you should look into doing Roth accounts as opposed to traditional. If I were you I would just put up to $5500 in a Roth IRA with vanguard and skip the 40...
by feehater
Mon Apr 23, 2018 11:38 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Analysis needed!
Replies: 15
Views: 2205

Re: Portfolio Analysis needed!

This is not related to the asset allocation but to the placement of your savings. Are you aware of all your tax-advantaged retirement savings options, and are you maxing them out? Both you and your wife could be contributing 11k a year to Roth IRAs, or if your income is above the limit, a Backdoor R...
by feehater
Tue Apr 17, 2018 8:17 am
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to a Individual 401K if my income is only from W2?
Replies: 19
Views: 2054

Re: Can I contribute to a Individual 401K if my income is only from W2?

Day trading profits would be short term capital gains that would go on Schedule D - and don't think these would qualify for individual-401K contributions. What if I just use my W2 income? Can I create a solo 401K, pay the double tax on the income and put the remaining amount via backdoor? If I misu...
by feehater
Sat Apr 14, 2018 6:50 am
Forum: Personal Consumer Issues
Topic: Most efficient way to find an apartment rental in Washington DC
Replies: 7
Views: 989

Re: Most efficient way to find an apartment rental in Washington DC

I did end up having luck with Craigslist, after sorting through the chaff. Not the most efficient way. One frustration I had with the DC market was that a lot of places offer a rate for people below a certain income that they get tax subsidies to offer. But they don't make this clear until you go to...