Search found 72 matches

by omgbirdman
Tue Sep 11, 2018 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: paying mortgage
Replies: 12
Views: 1802

Re: paying mortgage

Doing some potentially flawed math here.. the more intelligent can weigh in whether this works or not. Let's say your overall tax rate is 25% and you don't itemize. So 5.5% x .75 = effectively 4.125% interest after tax on the rental? If my math works, your rates are the same, so primary residence i...
by omgbirdman
Tue Sep 11, 2018 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: paying mortgage
Replies: 12
Views: 1802

Re: paying mortgage

Doing some potentially flawed math here.. the more intelligent can weigh in whether this works or not. Let's say your overall tax rate is 25% and you don't itemize. So 5.5% x .75 = effectively 4.125% interest after tax on the rental? If my math works, your rates are the same, so primary residence i...
by omgbirdman
Tue Sep 11, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: paying mortgage
Replies: 12
Views: 1802

Re: paying mortgage

Doing some potentially flawed math here.. the more intelligent can weigh in whether this works or not. Let's say your overall tax rate is 25% and you don't itemize. So 5.5% x .75 = effectively 4.125% interest after tax on the rental? If my math works, your rates are the same, so primary residence is...
by omgbirdman
Mon Sep 10, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Father Wants a Home Mortgage (Bad Credit Score)
Replies: 43
Views: 3407

Re: Father Wants a Home Mortgage (Bad Credit Score)

If grandfather was reporting this to the IRS (unlikely), he would have either reported this as rental income, or as an installment sale on form 6252. If he reported it as an installment sale, perhaps this could be used to show intent, even though there is no contract? I would consider turning the ol...
by omgbirdman
Wed Aug 29, 2018 12:34 pm
Forum: Personal Consumer Issues
Topic: Bone in my food
Replies: 107
Views: 4399

Re: Bone in my food

I would advise not eating 5 day old chicken anyway, regardless of bone content..
by omgbirdman
Tue Aug 21, 2018 4:05 pm
Forum: Personal Consumer Issues
Topic: Good Non-Boring Boglehead Cars Under $30k
Replies: 247
Views: 17675

Re: Good Non-Boring Boglehead Cars Under $30k

I definitely wouldn't say the new gen (2016+) Honda Civic is boring.
by omgbirdman
Mon Aug 06, 2018 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should I close a newly opened card that I no longer use?
Replies: 18
Views: 1066

Re: Should I close a newly opened card that I no longer use?

newbie003 wrote:
Mon Aug 06, 2018 3:50 pm
Thanks for the info.

Per the next post, the fee is $49
There is a fee. Either close it outright or, as you said, try to transfer the credit limit to a new card and then close it.
by omgbirdman
Tue Jul 17, 2018 3:26 pm
Forum: Personal Investments
Topic: When to invest 100000?
Replies: 40
Views: 4809

Re: When to invest 100000?

Historically lump-sum has beaten dollar-cost averaging. Thus, historically speaking now is the best time, but if DCA would make you feel better, go ahead.
by omgbirdman
Wed Jul 11, 2018 2:21 pm
Forum: Investing - Theory, News & General
Topic: Question About Interaction Between Buy & Sell Limit Orders
Replies: 5
Views: 494

Question About Interaction Between Buy & Sell Limit Orders

This is a purely hypothetical scenario, for that reason it may not be actionable, but let's hope the moderators disagree. Let's say we are dealing with a stock that has extremely low trading volume. Person A places a limit order to sell 1 share of stock X at $100. Person B places a limit order to bu...
by omgbirdman
Thu Jul 05, 2018 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: seasonal LLC taking Payroll
Replies: 4
Views: 446

Re: seasonal LLC taking Payroll

You can pay yourself on any schedule. As the other poster said, in this case, 3 of your 4 Forms 941 for the year would have to be filed as zero.

Beyond that, assuming you are a calendar year S-Corp, you have no problems.
by omgbirdman
Wed Jun 13, 2018 3:56 pm
Forum: Personal Investments
Topic: Any problem opening fund "Investor", then building to "Admiral"?
Replies: 25
Views: 2072

Re: Any problem opening fund "Investor", then building to "Admiral"?

If in a retirement account, you could purchase the equivalent ETF (which should have the same ER as Admiral shares) and then sell and buy into the fund once you reach 10k.
by omgbirdman
Thu Jun 07, 2018 4:28 pm
Forum: Personal Consumer Issues
Topic: daughter wants a college transfer?
Replies: 65
Views: 5884

Re: daughter wants a college transfer?

One thing to note is that she is currently in a lot of general education courses which will have a ton of participants. As she gets into more major-centric courses her class size should reduce drastically.
by omgbirdman
Wed May 23, 2018 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken - Do you use it?
Replies: 59
Views: 4911

Re: Quicken - Do you use it?

Always passive wrote:
Wed May 23, 2018 10:29 am
Question:
Can you use an old version without paying Quicken? I use the 2017 version but do not download from the securities prices
I use, and will continue to use, Quicken 2012. I manually input all transactions.
by omgbirdman
Wed Apr 04, 2018 12:44 pm
Forum: Personal Investments
Topic: Roth IRA and Taxable at VG
Replies: 12
Views: 909

Re: Roth IRA and Taxable at VG

As a bit of an aside, you don't have to have $6k to get into the international funds, you could just purchase VXUS.
by omgbirdman
Fri Mar 23, 2018 9:01 am
Forum: Personal Investments
Topic: ROTH Conversion and 1040ES estimated tax
Replies: 14
Views: 1339

Re: ROTH Conversion and 1040ES estimated tax

As long as you pay 100% of your prior year tax liability, you'll avoid any estimate tax penalties.
by omgbirdman
Mon Feb 12, 2018 9:58 am
Forum: Personal Investments
Topic: Vanguard advice--I'm confused
Replies: 30
Views: 4500

Re: Vanguard advice--I'm confused

If you purchase real estate and rent it, you get the full property tax deduction. The property tax cap applies to personal items only, not income-generating items.
by omgbirdman
Thu Feb 01, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Unincorporating? How easy to do? S corp to sole proprietorship?
Replies: 31
Views: 2637

Re: Unincorporating? How easy to do? S corp to sole proprietorship?

If you can get the taxable income below 315k with 401k etc., then full pass through deduction in play for 2018. That will probably be entire income as sole prop. Distribution only as s-corp. If so outweighs any medicare tax savings on distribution. Also easier to max out your 401k with more w2 or s...
by omgbirdman
Thu Feb 01, 2018 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: How to find a job in a different state?
Replies: 31
Views: 2434

Re: How to find a job in a different state?

I used my sister's address as my own (didn't live there) to get an initial short term contract position in a city 4 hours away from me. They needed me to start immediately and said the fact I was local (which I wasn't) was a key factor in hiring me. Once I got that position, I quickly got a short t...
by omgbirdman
Fri Jan 19, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Closing Credit Card affect credit score or help
Replies: 6
Views: 737

Re: Closing Credit Card affect credit score or help

I am an advocate of never closing any credit card as long as it has no annual fee- unless you have a spending problem. Leaving the card open doesn't hurt you in any way, and closing it doesn't help you in any way.
by omgbirdman
Mon Jan 15, 2018 2:15 pm
Forum: Personal Consumer Issues
Topic: Where do you get your auto loans?
Replies: 34
Views: 5853

Re: Where do you get your auto loans?

Lightstream is worth looking at. If you have good credit history, they will give you the loan totally unsecured, so you don't have to bother with liens, can carry whatever level of insurance you like, etc.

It's about as painless a process as you can get, and good rates, too.
by omgbirdman
Fri Dec 29, 2017 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to finance a car?
Replies: 17
Views: 1161

Re: Best way to finance a car?

MnyGrl wrote:
Fri Dec 29, 2017 12:55 pm
Are you saying take the money out of taxable accounts? I would pay taxes on it and also a penalty. I would like to save up cash but my car may die before I have enough saved.
Why would you pay a penalty on money taken out of a taxable account?
by omgbirdman
Wed Dec 27, 2017 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Being bought out of family business(C corp) - need help
Replies: 11
Views: 1221

Re: Being bought out of family business(C corp) - need help

The other 2 owners own the property(site and office building) under a different company and they lease this property to the family business to operate out of which sounds shady on the surface to me anyway. This is not shady. This is often done for liability purposes alone. I agree with the other po...
by omgbirdman
Fri Dec 22, 2017 9:39 am
Forum: Personal Finance (Not Investing)
Topic: S-CORP: How do taxes work?
Replies: 33
Views: 3275

Re: S-CORP: How do taxes work?

Interesting! So technically I do NOT need to go through our payroll system in order to bonus anything above our salary? That’s how we did it with LLC (just transfer bonus amounts straight from biz to personal bank accounts). Our payroll system has a function for “bonus” and it automatically takes t...
by omgbirdman
Thu Dec 21, 2017 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: S-CORP: How do taxes work?
Replies: 33
Views: 3275

Re: S-CORP: How do taxes work?

You do not pay taxes on distributions taken from the S-Corp. You pay tax on your share (based on stock ownership percentage) of the income at year end. It is essentially the same as an LLC, except you can now be paid wages. One caveat is that any money that you take in excess of your share of the pr...
by omgbirdman
Thu Dec 21, 2017 2:41 pm
Forum: Personal Investments
Topic: Am I over the Roth IRA income limit?
Replies: 5
Views: 838

Re: Am I over the Roth IRA income limit?

The income limit is applied after reducing your wages by any pre-tax retirement contributions.
by omgbirdman
Thu Dec 21, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 68253

Re: Tax Bill Omnibus Thread

Does paying estimated tax in December vs January 2018 apply to both state and federal tax, or just state? I have a large, anomalous capital gain this year for which I was planning to pay the tax in April. But it seems like I should pay in 2017 in order to itemize; having said that, I don't know if ...
by omgbirdman
Wed Dec 20, 2017 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Accountant fees reasonable?
Replies: 39
Views: 4102

Re: Accountant fees reasonable?

It doesn't sound too terribly unreasonable to me. California is a pretty complex and annoying state return, and it also somewhat depends on the COL in your area. I would say it is on the high end, but not eye-popping.
by omgbirdman
Mon Dec 18, 2017 4:58 pm
Forum: Personal Investments
Topic: Math . . . SIMPLE IRA . . .
Replies: 3
Views: 532

Re: Math . . . SIMPLE IRA . . .

Taking distributions instead of taking salary is a "disguised wage". The IRS frowns upon this as it is essentially a dodging of self employment tax. You have to be able to back up whatever salary you take as reasonable.
by omgbirdman
Mon Dec 18, 2017 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Can/should LLC owner take zero salary?
Replies: 5
Views: 1013

Re: Can/should LLC owner take zero salary?

Your logic is sound. The IRS is concerned with "disguised wages" which would be taking distributions in lieu of salary, and thus avoiding payroll taxes on the distributions.

However, if you are operating legally, being audited would be nothing to worry about anyway. Don't sweat it.
by omgbirdman
Mon Dec 18, 2017 4:01 pm
Forum: Personal Consumer Issues
Topic: New job offer - background check
Replies: 140
Views: 9579

Re: New job offer - background check

I believe you have handled this as well as possible. Now it is time to put up your feet and wait for the outcome. I understand your anxiety is through the roof, but at this point, it is best to relax and see what happens.

Good luck.
by omgbirdman
Thu Dec 14, 2017 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: How can independent contractors legally move their salary to the following year?
Replies: 10
Views: 1354

Re: How can independent contractors legally move their salary to the following year?

This is all assuming you are a cash basis taxpayer, which you likely are. If your customer has given you a check prior to 2018, that is constructively received income on the cash basis, and thus is income in 2017. If you don't bill your customer until 2018, you can shift some of the income, as you w...
by omgbirdman
Thu Dec 14, 2017 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Utilizing Intro 0% APR Credit Card offers the right way
Replies: 9
Views: 908

Re: Utilizing Intro 0% APR Credit Card offers the right way

Leave it as high to the limit as you are comfortable with. It will immediately stop effecting (affecting?) your credit as soon as you pay it off. Utilization is not a lasting factor.
by omgbirdman
Thu Dec 14, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: We had a pretty successful 2017
Replies: 15
Views: 2390

Re: We had a pretty successful 2017

TravelforFun wrote:
Thu Dec 14, 2017 11:39 am
$22K to Roth? Limit is $13K for two with catch-up.

TravelforFun
5.5k each for the 2016 contribution and the 2017 contribution, presumably.
by omgbirdman
Mon Dec 11, 2017 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: ? about work bonuses.
Replies: 6
Views: 948

Re: ? about work bonuses.

The accountant gave the owner an alternative way to keep the Bonuses off the monthly P&L and pay it out of the Balance sheet like his is but at this point the accountant says its only 1% counting against us which the owner doesn't see as an issue. If I am right and it is more I think he would be wi...
by omgbirdman
Tue Nov 21, 2017 9:47 am
Forum: Personal Consumer Issues
Topic: Best auto loan rates?
Replies: 19
Views: 5820

Re: Best auto loan rates?

Check out Lightstream. If your credit/income history is good enough they will just wire you the money as an unsecured loan.
by omgbirdman
Mon Nov 20, 2017 11:59 am
Forum: Personal Consumer Issues
Topic: New car buyers...you should consider financing
Replies: 39
Views: 4697

Re: New car buyers...you should consider financing

You're saying the $500 incentive would have been removed had you taken the 0.9% financing rate. But you did not take the 0.9% rate! Are you saying the $500 incentive was only available if you took their financing AND the loan rate was >0.9%? What make/model vehicle did you purchase? I've never seen...
by omgbirdman
Fri Nov 17, 2017 2:44 pm
Forum: Personal Consumer Issues
Topic: Window 10 Update -> Biometric , Cannot log in (Read this)
Replies: 10
Views: 802

Re: Window 10 Update -> Biometric , Cannot log in (Read this)

I have an older HP Envy dv6, and I just got pushed an update last night. If I recall, I uninstalled the fingerprint software quite awhile ago, but I suspect I may be running into this issue later. Thanks for the post. Klang , what's a biometric ? Biometric in this context refers to fingerprint scann...
by omgbirdman
Thu Nov 02, 2017 2:17 pm
Forum: Personal Investments
Topic: Help Me Break My Love Affair With Fidelity Low Priced Stock
Replies: 77
Views: 8879

Re: Help Me Break My Love Affair With Fidelity Low Priced Stock

I would say that 6% of portfolio is negligible enough that you can let it be.
by omgbirdman
Wed Oct 25, 2017 2:59 pm
Forum: Personal Consumer Issues
Topic: Package addresssed to my address, someone else's name, on house I am selling
Replies: 35
Views: 8428

Re: Package addresssed to my address, someone else's name, on house I am selling

I wouldn't be surprised to find this is a drug shipment of some kind.

You can create an account online with USPS and use it to view all deliveries going to that address.
by omgbirdman
Tue Oct 24, 2017 10:15 am
Forum: Personal Consumer Issues
Topic: idiot proof router?
Replies: 53
Views: 5796

Re: idiot proof router?

I'm a bit curious as to what peripherals you are referring to. Windows XP is highly unsecure and ideally would not be connected to the internet.
by omgbirdman
Wed Oct 18, 2017 11:02 am
Forum: Personal Consumer Issues
Topic: any good credit card sign up bonuses?
Replies: 15
Views: 1598

Re: any good credit card sign up bonuses?

As others have said, good means a lot of different things. However, if you are looking for a pretty solid reward with no minimum spend requirement, take a look at Barclays Aviator Red. 60k miles and all you have to do is pay the annual fee ($95) and make a single purchase with the card. Conservativ...
by omgbirdman
Wed Oct 18, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth applying for Credit Limit Increase?
Replies: 21
Views: 1965

Re: Is it worth applying for Credit Limit Increase?

I have 10 credit cards. I request a credit limit increase every 6 months on all my cards which do not require a hard pull to do so (Discover, Amex, Capital One, Citi). Chase will do a hard inquiry if you request a credit limit increase. For this reason, I wouldn't recommend it.
by omgbirdman
Wed Oct 18, 2017 7:55 am
Forum: Personal Consumer Issues
Topic: any good credit card sign up bonuses?
Replies: 15
Views: 1598

Re: any good credit card sign up bonuses?

As others have said, good means a lot of different things. However, if you are looking for a pretty solid reward with no minimum spend requirement, take a look at Barclays Aviator Red. 60k miles and all you have to do is pay the annual fee ($95) and make a single purchase with the card. Conservative...
by omgbirdman
Mon Oct 09, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Rent or Sell
Replies: 12
Views: 1358

Re: Rent or Sell

Selling seems obvious given this information. Where are you coming up with that expected rent number though? As a (very loose) rule of thumb, I think Selling Price/100 is a decent way to approximate rental value, which would be an additional $500/month.
by omgbirdman
Thu Sep 28, 2017 3:19 pm
Forum: Personal Investments
Topic: Simple IRA through my work
Replies: 13
Views: 958

Re: Simple IRA through my work

If the plan was set up using a form 5305, you are required to use the financial institution they provided. If it's a 5304, you can choose your own institution. I ran into a similar thing at my workplace and did all of the paperwork to set up a SIMPLE for myself with Vanguard, at no cost to the emplo...
by omgbirdman
Mon Sep 11, 2017 4:04 pm
Forum: Personal Consumer Issues
Topic: New/used compact car
Replies: 9
Views: 927

Re: New/used compact car

I have had a 2016 Civic since April 2016, and it is leaps ahead of last generations (2012-2015). I haven't personally driven the Corolla, but considering the mid-range Civic is 2 seconds faster 0-60, I suspect the fun factor is much greater as well.

Aside from the infotainment system, I love my car.
by omgbirdman
Fri Sep 08, 2017 8:07 am
Forum: Investing - Theory, News & General
Topic: short term investment instead of money market...
Replies: 11
Views: 1778

Re: short term investment instead of money market...

riptide wrote:
Fri Sep 08, 2017 8:00 am
The yield is not that high, but they still are a guaranteed gain over the next five years, where the brokerage account can lose or gain.
So what is the yield? If it's less than 1% or so, it's probably worth the hassle to cash it out and switch it to a savings account.
by omgbirdman
Thu Sep 07, 2017 3:41 pm
Forum: Investing - Theory, News & General
Topic: short term investment instead of money market...
Replies: 11
Views: 1778

Re: short term investment instead of money market...

I would take it from the brokerage account. While the EE's are currently worth $7,500, in 2022, exactly 5 years from now (assuming it matures in September 2022) the bond will each be worth $15,000. That is a 15% yield to maturity. No way, would I cash those bonds in, that is a guaranteed return, th...
by omgbirdman
Fri Sep 01, 2017 2:16 pm
Forum: Personal Consumer Issues
Topic: Is KBB still useful for finding car prices???
Replies: 9
Views: 1332

Re: Is KBB still useful for finding car prices???

I think NADA will get you what you're after.
by omgbirdman
Fri Sep 01, 2017 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Capital One -- Again!
Replies: 59
Views: 15022

Re: Capital One -- Again!

I just really liked ING Direct/CO360 and hate having to switch banks. I especially hate having to ding my credit with credit checks and mess around with thawing my credit records when I'm not even applying for credit . That's a big reason why I chose ING Direct/CO360; they didn't require a credit c...