Search found 79 matches

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: 677

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: 44
Views: 6681

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: 543

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: 448

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: 258

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: 22
Views: 3598

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: 48404

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: 1795

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: 1758

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: 1804

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: 838

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...
by feehater
Fri Apr 13, 2018 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: 403b Money / Tax Rate
Replies: 4
Views: 239

Re: 403b Money / Tax Rate

1. If you don't need the money and just want to get it out of her 403b, an even better method would be to do Roth conversions so that you wouldn't have to pay capital gains on its future gains. This is a common strategy in bogleheads that you can do a search for. 2. I'm not sure you have taken into ...
by feehater
Mon Apr 02, 2018 10:29 am
Forum: Investing - Theory, News & General
Topic: “We’re not making enough money off you”
Replies: 62
Views: 11017

Re: “We’re not making enough money off you”

Firms aren't running charities; they cannot exist if they cannot turn a profit. [/b] How about your medical insurance decides to insure you only if they can make sure you will not get expensive to cure diseases via genetic type testing? Where do you draw the line? I've never done business with a ba...
by feehater
Thu Mar 29, 2018 9:49 am
Forum: Investing - Help with Personal Investments
Topic: Opening an individual 401k to complement my SEP IRA
Replies: 8
Views: 465

Re: Opening an individual 401k to complement my SEP IRA

To make any 2017 contributions, your solo 401k would have had to have been established by December 31. You could open one now for your 2018 tax year, but you need to be aware that there are lots of rules about a SEP IRA and a solo 401k existing at the same time. So, until you figure this out, don't ...
by feehater
Mon Mar 19, 2018 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: elderly mother given 10 days to give IRS *transcript* to health insurance or lose benefits
Replies: 20
Views: 3707

Re: elderly mother given 10 days to give IRS *transcript* to health insurance or lose benefits

Perhaps the state should get out of the marriage license business if they aren't going to accept their own records as proof. A marriage license proves you were married at one point in time; nothing more. Ok, I'll bite. Doesn't an IRS transcript only prove that you checked the married box on last ye...
by feehater
Mon Mar 19, 2018 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Bought house six months ago - now feeling like we're treading water and can't save money
Replies: 189
Views: 17137

Re: Bought house six months ago - now feeling like we're treading water and can't save money

Heh. I don't mind that paying "taxes." It's the relative amount. I haven't done my 2017 taxes yet, but when I did my 2016 taxes, my wife and I paid $5,000 in Federal Income Tax (combining the amount paid over the course of the year with the amount paid in April), on a gross income $55,000. Meanwhil...
by feehater
Sun Mar 11, 2018 10:23 am
Forum: Investing - Help with Personal Investments
Topic: What Tax Advantaged Account To Put 1099 Income
Replies: 12
Views: 894

Re: What Tax Advantaged Account To Put 1099 Income

Yes as PFInterest said; you can have a one-participant 401k, but like you said; there is an employee deferral limit (2018 = $18.5K) for all qualified plans. So since I am already maxing out my W2 Employer Sponsored 401K, the Solo 401K does nothing for me, correct? Maximum employer contributions are...
by feehater
Sun Mar 04, 2018 11:41 am
Forum: Investing - Help with Personal Investments
Topic: Need Fundamental help with Finances and Insurance
Replies: 26
Views: 1755

Re: Need Fundamental help with Finances and Insurance

You are doing a great job simply by coming here and putting everything in writing. I second the suggestion to get a Dave Ramsey book and get a handle on your budget (or lack thereof) and on your debt. He will kick your butt in a good way. Making a monthly budget with a sporadic income is a pain, but...
by feehater
Sat Mar 03, 2018 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Has the home we wanted just become 20% more expensive due to tax reforms?
Replies: 62
Views: 6900

Re: Has the home we wanted just become 20% more expensive due to tax reforms?

Yes, you are right that the $500K house has become 20% more expensive to you at the margin. But it has also been more expensive to most other prospective buyers, so in equilibrium, all other things being equal, we would expect that the $500K house you may have been looking at will fall in price nex...
by feehater
Fri Feb 23, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4228

Re: Misc Income [how to report with no 1099]

Maybe she didn't want to pay her half of the payroll taxes but thought it sounded less stingy to blame it on the worker's comp policy? Either way, it seems that most of us are at least in agreement that it needs to be reported somewhere! Leaving your 1040 as is seems like you have underreported your...
by feehater
Thu Feb 22, 2018 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Do you rent even if you can afford to buy?
Replies: 82
Views: 9834

Re: Do you rent even if you can afford to buy?

I also tell my kids not to buy heavy 'heirloom' furniture for the same reasons. Buy something cheap that you can sell on craigslist so you don't have to move a bunch of stuff. I wish I knew this before my girlfriend and I got our first apartment together. Her parents gave us some old solid wood fur...
by feehater
Tue Feb 20, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: New to FSA and Planning a baby
Replies: 12
Views: 788

Re: New to FSA and Planning a baby

. You can file a claim any time but you can only be reimbursed with money you have contributed. I'm not sure this is true for every plan? I think have access to my full amount on 1/1 even though the deduction is spread over the next 52 weeks of pay. I have definitely used up my entire amount by hal...
by feehater
Tue Feb 20, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: New to FSA and Planning a baby
Replies: 12
Views: 788

Re: New to FSA and Planning a baby

. You can file a claim any time but you can only be reimbursed with money you have contributed. I'm not sure this is true for every plan? I think have access to my full amount on 1/1 even though the deduction is spread over the next 52 weeks of pay. I have definitely used up my entire amount by hal...
by feehater
Wed Feb 14, 2018 3:23 pm
Forum: Personal Consumer Issues
Topic: Help me help my niece (College costs, financial aid, etc)
Replies: 41
Views: 2884

Re: Help me help my niece (College costs, financial aid, etc)

I know you are on the right track with looking into this, but I would be really, really, really careful with thinking the community college credits will transfer in. The guide for transferring you need to look at is the one from the 4 year college, not the community college. If it's a prestigious li...
by feehater
Wed Feb 14, 2018 10:42 am
Forum: Investing - Help with Personal Investments
Topic: Recent Music School Grad Needing Advice
Replies: 10
Views: 1132

Re: Recent Music School Grad Needing Advice

1. There's absolutely no reason to invest in taxable when you have all these other (better) tax advantaged account options people keep mentioning. Unless the $250/month you mentioned for taxable is your home down payment fund and you're choosing to invest it. This is doubly true in your income range...
by feehater
Sun Feb 11, 2018 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Determining Correct Federal Income Tax Liability/Withholding
Replies: 9
Views: 1003

Re: Determining Correct Federal Income Tax Liability/Withholding

Actually your property AND state income tax deductions are limited to $10k total so you'd only add up to $20k total itemized in which case you would indeed take the $24k standard deduction anyway.
by feehater
Sat Feb 10, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Help - why do I owe so much in taxes this year
Replies: 17
Views: 3701

Re: Help - why do I owe so much in taxes this year

Your total tax went from 16.8k to 17.5k which seems logical or even low for an increase in $6k of taxable income. I'm sure if you tell us every number on your 1040 people can explain in more detail. Your real problem was that you had $3k less withheld which is a different question altogether than wh...
by feehater
Sat Feb 10, 2018 1:38 pm
Forum: Investing - Help with Personal Investments
Topic: Questions for the self employed
Replies: 5
Views: 485

Re: Questions for the self employed

However, you can do much more elsewhere. Meaning, if you really don't need any of the money, you should look into a solo 401k or at least a simple or SEP IRA. Note that none of these reduce the self-employment tax, which you're pretty much stuck paying on the full amount (minus business expenses th...
by feehater
Sun Feb 04, 2018 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Virginia/Maryland Car Dealers vs. Others
Replies: 13
Views: 1330

Re: Virginia/Maryland Car Dealers vs. Others

I don't have any specific details to help you, but when I tried to get Toyota dealers to price match a good online deal that was 3 hours away from where I lived, they all swore up and down that the ad was incorrect or that there would be an undercoat deal or some other add-on required to get that pr...
by feehater
Sat Jan 27, 2018 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate Commission Rates around Metro D.C.
Replies: 6
Views: 501

Re: Real Estate Commission Rates around Metro D.C.

Yes, I'd look into redfin, although if the buyer uses a standard realtor you're still on the hook for their 3% meaning you'd pay 4.5% total... Most listing agreements specify total commission; the selling agency generally gets 1/2 of the total. That's fine, but the redfin website explicitly says,"B...
by feehater
Sat Jan 27, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Real Estate Commission Rates around Metro D.C.
Replies: 6
Views: 501

Re: Real Estate Commission Rates around Metro D.C.

Yes, I'd look into redfin, although if the buyer uses a standard realtor you're still on the hook for their 3% meaning you'd pay 4.5% total...
by feehater
Wed Jan 24, 2018 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Open a LLC
Replies: 10
Views: 1277

Re: Should I Open a LLC

Conversely, IF it turns out that you do have enough income to qualify this as a business, you should not assume that homeowners insurance will cover you. I know of many stories in the music world where people mistakenly thought their instruments were covered until they had to make a claim, only to b...
by feehater
Mon Jan 22, 2018 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Real Estate in Montgomery County MD
Replies: 6
Views: 620

Re: Help with Real Estate in Montgomery County MD

In my part of MoCo, most move-in ready homes are going at or above asking price, usually within a week or two. Definitely a seller's market. Is their house a tear down because it's in bad condition or just because it's smaller and older than the surrounding houses? I can see the former being a reaso...
by feehater
Sat Jan 20, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: 403b rollover headache
Replies: 7
Views: 607

Re: 403b rollover headache

Right, but what if you did the IRA with a 3rd party that also had good customer service and was willing to deal with all the forms?

Another option is that if your wife is going to make any 1099 income as an author, she could set up a self employed 401k to accept the rollover.
by feehater
Sat Jan 20, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: 403b rollover headache
Replies: 7
Views: 607

Re: 403b rollover headache

Can you roll it into an IRA and then roll the IRA into the 403b? Will NBS accept that?
by feehater
Fri Jan 19, 2018 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Help Me Spend $900.00 Unused FSA Dollars
Replies: 42
Views: 3217

Re: Help Me Spend $900.00 Unused FSA Dollars

If you can get your doctor to prescribe it, a Fitbit or even an apple watch to supposedly help you with exercising, etc.
by feehater
Sun Jan 14, 2018 12:38 pm
Forum: Personal Consumer Issues
Topic: where does one buy "health insurance" in the USA?
Replies: 17
Views: 1404

Re: where does one buy "health insurance" in the USA?

https://www.healthsherpa.com/ My God. Why can't the the gubment provide this clarity? Thank you so much Actually they do: https://www.healthcare.gov/see-plans/ They just try to funnel you into enrolling instead of previewing. And if you live in a state with its own exchange, they send you there ins...
by feehater
Fri Jan 12, 2018 11:09 am
Forum: Investing - Help with Personal Investments
Topic: Musician Asking for Advice
Replies: 8
Views: 1135

Re: Musician Asking for Advice

Hi Marketgarden, Welcome to the forum and congrats on your career success so far. Assuming that at least some of your students and gigs are 1099 and not w2, you should already be eligible to contribute to "small business" plans like a SEP IRA or a solo 401k. That should allow you to save more than y...
by feehater
Sun Dec 31, 2017 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Got myself an extra $200 today just by being observant
Replies: 25
Views: 5520

Re: Got myself an extra $200 today just by being observant

Sometimes the list price at the high-volume, no-haggle dealerships is in fact the best price you're going to get. I did the same thing with Toyota. I took advantage of how they divide the country up into different regions and drove three hours to a neighboring state where the dealerships paid a muc...
by feehater
Fri Dec 22, 2017 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: Introducing Myself, Seeking Retirement Advice
Replies: 18
Views: 2697

Re: Introducing Myself, Seeking Retirement Advice

One exception to the usual Roth vs Traditional debate that might affect you, is that the traditional 403b lowers your taxable income, which might make it low enough to qualify for the saver's credit. That might give you more bang for your buck if you can qualify for it.
by feehater
Fri Dec 22, 2017 3:19 pm
Forum: Investing - Help with Personal Investments
Topic: Another Solo 401k Clarification, please
Replies: 16
Views: 1545

Re: Another Solo 401k Clarification, please

Spirit Rider, Is there any form we need to keep for our records for the employer contribution once we make it at tax time? The Fidelity form you send with the contribution doesn't even give you a place to specify which tax year it belongs to. Seems like the irs would want some written record of stuf...
by feehater
Mon Dec 11, 2017 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: 2 jobs Solo 401K or SEPP or?
Replies: 3
Views: 225

Re: 2 jobs Solo 401K or SEPP or?

The SEP and the solo 401k will both allow you to contribute the same amount as your employER contribution (about 20% of your side gig income). The solo 401k also allows up to 18k as your employEE contribution, but that amount shares the same total limit from your work 401k. So if you are happy with ...
by feehater
Wed Dec 06, 2017 5:16 pm
Forum: Personal Consumer Issues
Topic: A Trip to Russia
Replies: 81
Views: 5189

Re: A Trip to Russia

I haven't been to Moscow, but St. Petersburg was a great trip. I agree that it was more difficult to get around / speak in English than in Western Europe, but it is very possible. The central city is walkable, and the train lines are very efficient. Do not skip the Hermitage or Church on Spilled Bl...
by feehater
Wed Dec 06, 2017 4:56 pm
Forum: Personal Consumer Issues
Topic: A Trip to Russia
Replies: 81
Views: 5189

Re: A Trip to Russia

Plenty of English spoken and seen in the touristy parts of Moscow and St. Petersburg these days, including on the excellent (and beautiful) metro systems. In order to get a visa you need an invitation from a hotel or a host. Most of them will charge you extra in order to supply such an invitation. W...
by feehater
Mon Dec 04, 2017 8:45 pm
Forum: Investing - Help with Personal Investments
Topic: Moving inheritance taxable account to retirement accounts?
Replies: 21
Views: 1830

Re: Moving inheritance taxable account to retirement accounts?

So IF you do have the option of getting paid as a 1099 instead of a w2 you could certainly set up a small business to take in the money. But then you should try to get paid about 25% more to make up for all the benefits you're losing. As this poster is finding out this week: https://www.bogleheads.o...
by feehater
Mon Dec 04, 2017 6:27 pm
Forum: Investing - Help with Personal Investments
Topic: Her 403b, My Self Employed 401k, IRA, what to do?
Replies: 5
Views: 574

Re: Her 403b, My Self Employed 401k, IRA, what to do?

Does the Lincoln plan have any overarching annual fee or expense ratio besides what you listed? Because if she has access to a Vanguard target date fund at just the .16 ER then her 403b is not only as good as anything out there, but it is the same ER that you'll be paying in an IRA or i401k. So you ...
by feehater
Mon Dec 04, 2017 6:02 pm
Forum: Investing - Help with Personal Investments
Topic: Moving inheritance taxable account to retirement accounts?
Replies: 21
Views: 1830

Re: Moving inheritance taxable account to retirement accounts?

The c-corp/s-corp thing isn't going to help you if you're always w2. Your only retirement options beyond an IRA would be if some of the companies let you contribute to a 401k or 403b for the period you were working there. Or, if you're in a union part of the field, there might be a multi-employer pe...
by feehater
Mon Dec 04, 2017 4:36 pm
Forum: Personal Consumer Issues
Topic: Why is an EIN needed for i401k?
Replies: 4
Views: 412

Re: Why is an EIN needed for i401k?

I don't know the answer to the Why question, but you didn't need to have the ein from the start. You can still collect the 1099s with your SSN and put them on your schedule C (which has an optional place for your EIN). Yes, you do need an EIN to open the i401k. It only takes about 4 clicks to do on ...
by feehater
Sun Nov 26, 2017 10:14 am
Forum: Personal Consumer Issues
Topic: The annoying insistence on frivolous credit checks/pulls
Replies: 35
Views: 3734

Re: The annoying insistence on frivolous credit checks/pulls

I bought car with cash (well, technically whatever amount they were willing to put on a credit card, and a personal check for the rest) a few years ago and the dealership still insisted on doing a hard pull on my credit.
by feehater
Mon Nov 13, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 4277

Re: Advice needed for parent's finances

Two thoughts before the experts come along: 1. There is a contingent of folks on here who will point out that you logging in to your mom's account is impersonating her and is technically illegal or at least against the terms of service. They would tell you to instead fill out a form for each company...