Search found 95 matches

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: 2589

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: 2589

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: 536

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: 390

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: 1944

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: 1351

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: 378

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: 378

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: 1324

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: 4588

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: 1324

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: 928

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: 156
Views: 17167

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: 1024

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: 471

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: 6244

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: 844

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: 13635

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: 649

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: 488

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: 287

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: 8085

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: 50136

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: 1915

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: 1919

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: 1912

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: 905

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: 271

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: 12141

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: 514

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: 3889

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: 18545

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: 1014

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: 1881

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: 7213

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: 4536

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: 11295

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: 841

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: 841

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: 3040

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: 1178

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: 1065

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: 3842

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: 545

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: 1560

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: 531

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: 531

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: 1372

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: 674

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: 676

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.