Search found 3264 matches

by talzara
Fri Mar 24, 2023 5:50 pm
Forum: Personal Consumer Issues
Topic: How do you search for plane tickets? (tired of budget airline gimmicks)
Replies: 79
Views: 10252

Re: How do you search for plane tickets? (tired of budget airline gimmicks)

White Coat Investor wrote: Fri Mar 24, 2023 9:52 am I might use Google flights just to see what is available but no way am I actually booking on Google or Orbitz or Kayak. You only have to learn that lesson once.
Orbitz only charges about $1 in booking fees. Since the US airlines no longer pay commissions, $1 is all that Orbitz makes for selling you the ticket. You can't buy much customer service for $1.

Orbitz is owned by Expedia, which makes its money on hotel bookings. Hotels still pay commissions. That's why so many travel websites try to sell you a hotel room. If you buy an airline ticket, they ask you if you need a hotel room to stay in at the destination airport. If you rent a car, they ask you if you need a hotel room to stay in after you return the car.
by talzara
Fri Mar 24, 2023 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Schedule B for form 1116
Replies: 1
Views: 258

Re: Schedule B for form 1116

It goes basically like this: 2014: 500 extra 2015: 600 extra 2016: 700 extra 2017: 800 extra 2018: had credit of 900, tax of 1600, so 500 was carried over from 2014 and 200 over from 2015. 2019: had credit of 1000, tax of 1800, so 400 was carried over from 2015 and 400 was carried over from 2016. 2020: 1100 extra I have an issue first with line 1 - it says to enter the applicable portion from Part III Line 10 of form 1116. But in the years where no carryforward was needed, I left this line blank. (I'm now not sure if that was correct or not). In 2018 and 2019, I had the values of 700 and 800 respectively. I should have a total credit left of 2200: 500+600+700+800-700-800+1100 That is incorrect. The carryover is cumulative, so you should've...
by talzara
Mon Mar 06, 2023 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: UPC Insurance insolvency
Replies: 3
Views: 468

Re: UPC Insurance insolvency

I received an email and letter on Saturday March 4 notifying me that the Florida insurance commissioner had declared UPC [1] insolvent and was winding down the company. If they weren't already invalid, any UPC policies would expire at the end of March (I don't have the exact date with me at the moment). There was an agreement to move the UPC polices to TypTap Insurance [2], and our new policy with TypTap was scheduled to start March 5. They were asking for the $3k annual premium due March 5. I was skeptical of doing this on such short notice, but didn't want our policy to lapse, so I went ahead and made a quarterly payment to TypTap on March 5. The premium was about 30% higher than the UPC premium which renewed last September, but I didn't...
by talzara
Fri Mar 03, 2023 6:03 pm
Forum: Investing - Theory, News & General
Topic: Problems with Vanguard Foreign tax credit information
Replies: 2
Views: 601

Re: Problems with Vanguard Foreign tax credit information

https://www.vanguard.com/pdf/FTC_2023.pdf Column 3: Foreign Tax Paid percentage If you did not receive Form 1099-DIV, you can calculate your Foreign Tax Paid by multiplying the percentage listed in Column 3 by Ordinary Cash Dividends paid to you by the Fund. What does it mean ordinary cash dividends? I'm trying with the info I get for VTIAX ("Detail for Dividends and Distributions" in 1099-DIV), but if I multiply by 8.52% (for VTIAX/VXUS in the pdf) all the 'Total Dividends & distributions' (includes QDIV and NQDIV), I don't get 'Total Foreign tax withheld'. Even if I only consider QDIV or NQDIV Multiply column 3 by the sum of the cash dividends that you received on your brokerage statement. That number already has the foreig...
by talzara
Fri Mar 03, 2023 5:23 pm
Forum: Personal Consumer Issues
Topic: Newark to Athens, Greece in early May $1500 for nonstop economy flight?
Replies: 32
Views: 3549

Re: Newark to Athens, Greece in early May $1500 for nonstop economy flight?

Our $1155 fare from Newark to Athens is regular economy, not basic. I just checked Delta nonstop flights from JFK on our dates (May 2 - May 19) and their nonstop regular economy flights are within $12 of United’s. I’m sure that you are correct about the basic economy fares and United’s strategies, that’s something I just don’t know about. What I do know is that because of where we live (far western Massachusetts), Newark is a much easier airport to fly from for us. United is our preferred airline because DW is Premier Silver and in about 20 round trip flights to Europe there was only one where we were not able to upgrade to Economy Plus at check in. EWR-ATH nonstop on United for May 2-19 is now $1,067 in Basic Economy and $1,237 in Economy...
by talzara
Thu Mar 02, 2023 4:40 pm
Forum: Personal Consumer Issues
Topic: Newark to Athens, Greece in early May $1500 for nonstop economy flight?
Replies: 32
Views: 3549

Re: Newark to Athens, Greece in early May $1500 for nonstop economy flight?

OP here again. I just wanted to update this thread with our experience so far. On February 21 we booked our flight, but only purchased the 14 day Farelock for $36. By that time, the price of the flight went up to $1680 round trip per person. I thought that the price was ridiculous, but it appeared that the group consensus was that $1500 would be the best it would be. I put it on a Google flight alert and checked the price every day. A few days later the flight went down to about $1600 each, but we didn’t do anything. Yesterday, March, 1 it went down to $1485 each and we put it on another Farelock for $36. This morning the price dropped to $1210 each and by the time I got to the desktop to put in another Farelock, it dropped further to $115...
by talzara
Wed Mar 01, 2023 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: IRS audit 2020 - How to Respond
Replies: 12
Views: 2079

Re: IRS audit 2020 - How to Respond

I got a response from them a few weeks later and they said they would need 90 days to check it out and get back to me. I am not filing my2022 return which has a few thousand dollar refund due to me. I am afraid this will get all messed up and my refund may be lost in the mill for a long time. Hopefully they resolve it by 4/15, if not, I may file an extension until they resolve this. Your 2020 return has nothing to do with your 2022 return. They're processed separately. If you had problems with your 2020 return, that doesn't mean you'll have problems with 2022. If you didn't have problems with your 2020 return, that doesn't mean you won't have problems with 2022. If you're worried about checks being lost in the mail, you should use direct d...
by talzara
Wed Mar 01, 2023 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: IRS audit 2020 - How to Respond
Replies: 12
Views: 2079

Re: IRS audit 2020 - How to Respond

opus360 wrote: Wed Mar 01, 2023 12:46 pm I received my income tax refund, but for a lower amount. I then received a one-page IRS CP21B notice, showing my refund due was reduced by an "Increase in tax". There is no further explanation. What should I do: disagree by writing a simple letter back saying "please explain the increase in tax", or appeal maybe by filing Form 12203? Or do both?
It's not easy to get the IRS to explain an increase in tax.

The first step is to try to figure it out yourself. Get an IRS.gov account, download the return transcript, and compare it line-by-line with your return. The transcript doesn't have every line on your return, but it may give you some clues about what changed.
by talzara
Wed Mar 01, 2023 9:58 pm
Forum: Personal Consumer Issues
Topic: Off-Brand Car Rental
Replies: 37
Views: 2436

Re: Off-Brand Car Rental

I'm looking for folks with personal experience using off-brand rental cars (preferrably at EWR). Specifically Ace and Sixt are much cheaper than the >$1100 for a one week rental I've booked with Enterprise at EWR. Sixt apparently requires pre-payment which is unnerving should my plans change or they fold in the interim. (Which actually happened to me while renting a car in Boanire from a local company. They went under while I was renting the car!). Thanks. When renting on my own dime, I always use whatever is cheapest, which usually means a third tier agency like Fox, Ace, or Advantage (Sixt is usually too expensive to be a contender). Sixt acquired the Advantage operations at 10 major airports when Advantage went bankrupt in 2020. Newark ...
by talzara
Wed Mar 01, 2023 9:32 pm
Forum: Personal Consumer Issues
Topic: Washer and Dryer (Costco and Home Depot)
Replies: 24
Views: 2157

Re: Washer and Dryer (Costco and Home Depot)

Just recently bought a refridgerator from HD and will never buy an appliance there again as long as they subcontract out their delivery service. It was a nightmare - rescheduled multiple times, late, beat up the house, broke the old fridge. I’m not sure how much worse they could have done unless they drove the truck into house. Locally, Lowe’s services their own deliveries. I will likely use them for future deliveries. I also bought a new fridge from Lowes last year and had the same experience. No issues with the transaction or delivery. The CEO of Lowes is unhappy with the cost of delivering appliances, and the company is switching to the Home Depot model. Even if your local Lowes is still delivering its own appliances, it may not be doin...
by talzara
Wed Mar 01, 2023 9:17 pm
Forum: Personal Consumer Issues
Topic: Washer and Dryer (Costco and Home Depot)
Replies: 24
Views: 2157

Re: Washer and Dryer (Costco and Home Depot)

Bogle7 wrote: Tue Feb 28, 2023 1:35 pm 1. Both will likely use sub-contractors for the delivery. Your experience could range from 1 to 10.
bendix wrote: Tue Feb 28, 2023 7:54 pm Costco has good deals on these and it´s Costco after all.

They do however subcontract the installation and many customers experience, mine included, is sort of awful. Not sure others are any better though.
Costco owns its own delivery company. It acquired the former Sears delivery operation in 2020.

The delivery people don't work directly for Costco, just like the food sample demonstrators work for a different company. However, both companies are owned by Costco. If the delivery people are "awful," then there's nobody to blame but Costco.

There may be areas of the country where Costco uses third-party companies.
by talzara
Mon Feb 27, 2023 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: 15 year old to europe - cash options
Replies: 59
Views: 4067

Re: 15 year old to europe - cash options

I haven't been asked for a CC signature in years other than restaurants. The chip works on it's own when contactless doesnt. Is this different in Europe these days? No, the chip technology (EMV) is not different. I think it depends on the bank and vendor and I suspect they may be more likely to ask for a PIN/signature if it is a foreign transaction. On a recent trip, I had to sign on multiple occasions in some stores (but not others). Some ticket machines would ask for a PIN, others won't. EMV transactions are a negotiation between the card and the payment terminal. The top verification method on the card that is also accepted by the payment terminal gets used. Most American credit cards are programmed to allow two verification methods: si...
by talzara
Mon Feb 27, 2023 6:30 pm
Forum: Investing - Theory, News & General
Topic: WSJ Reporter doing story on retired folks w/$500k savings
Replies: 37
Views: 9298

Re: WSJ Reporter doing story on retired folks w/$500k savings

I match the basic criteria for participating in this survey. I have been retired for 8 years. But the working assumption that I have an annual budget is wrong. What I have is a large portfolio (a few million $$) and I draw income from RMD's and Social Security. The Wall Street Journal already ran articles on $2 million and $1 million portfolios. This is the $500k article. If you have "a few million $$," then you have too much to be interviewed for this article. I assumed they were saying they had $500k in a savings account... The WSJ is doing an article about people with $500k in retirement savings, not people with $500k in a savings account at a bank. The $2 million and $1 million articles also weren't about people with $2 milli...
by talzara
Mon Feb 27, 2023 4:56 pm
Forum: Investing - Theory, News & General
Topic: WSJ Reporter doing story on retired folks w/$500k savings
Replies: 37
Views: 9298

Re: WSJ Reporter doing story on retired folks w/$500k savings

Garco wrote: Mon Feb 27, 2023 12:39 pm I match the basic criteria for participating in this survey. I have been retired for 8 years. But the working assumption that I have an annual budget is wrong. What I have is a large portfolio (a few million $$) and I draw income from RMD's and Social Security.
The Wall Street Journal already ran articles on $2 million and $1 million portfolios. This is the $500k article. If you have "a few million $$," then you have too much to be interviewed for this article.
by talzara
Mon Feb 27, 2023 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax on iPad - Use website or app?
Replies: 15
Views: 740

Re: TurboTax on iPad - Use website or app?

As we say here at the office. This is what you asked for. :mrgreen: Use a real computer. Not an enlarged phone. After all this is your taxes. Hmmm Maybe I’ll see if I can borrow someone’s PC to do my taxes on it or see if I can get my old Windows 10 working. It’s super slow with only 2GB of RAM. TurboTax only requires 2 GB of RAM. Since you have cryptocurrency transactions, you need to file form 8949. To get that form in TurboTax Online (including the app), you need Premier or above, which is selling for $90 now, plus $40 for a state program. The desktop version of TurboTax has every form in every edition. You can buy TurboTax Deluxe + State for $56 now and pay another $20 to e-file the state return. You're giving Intuit an extra $54 a yea...
by talzara
Mon Feb 27, 2023 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax on iPad - Use website or app?
Replies: 15
Views: 740

Re: TurboTax on iPad - Use website or app?

passive101 wrote: Sun Feb 26, 2023 11:51 pm This is the first year I’m doing taxes on a tablet. I know I can’t use the most basic form of the software. I have a 401k, Roth IRA, HSA, taxable investment account, and crypto. Should I use the iPad app or the website? Does the app version have all the features of the website?
The phone and tablet apps are just packaged up websites. They store all your data on the Intuit servers, and they require an Internet connection to function.

The interview is identical, but the app cannot print. Intuit suggests using both the website and the app if you need a feature that's only available in one of them: https://ttlc.intuit.com/turbotax-suppor ... v_US_en_US
by talzara
Fri Feb 24, 2023 6:39 pm
Forum: Personal Consumer Issues
Topic: Cheated by a car rental company
Replies: 75
Views: 8470

Re: Cheated by a car rental company

I got cheated by a rental company in Chile. The windshield got nicked by a stone. I had purchased the collision damage waiver in Spanish and when I returned the car, they noted in the Spanish receipt that it was covered by insurance and that there was zero due. Then I got a $400 charge for a windshield on my credit card. When I opened a dispute I initially lost because the insurance company said that the collision damage waiver didn't cover windshields. I then argued that after giving me the receipt they gave me indicating that it was, they were no longer authorized to charge my credit card and that I was disputing not the charge, but the unauthorized use of my credit card. I won the latter. Charges reversed, never heard from them again. O...
by talzara
Fri Feb 24, 2023 6:35 pm
Forum: Personal Consumer Issues
Topic: Cheated by a car rental company
Replies: 75
Views: 8470

Re: Cheated by a car rental company

But I would call first and make sure they have a car available. I occasionally rent from Enterprise, and once the pandemic started, their inventory went low. I have no idea why. Enterprise is a private company, but inventory is almost back to pre-pandemic levels across the rental car industry. For example, Avis had: 660,000 vehicles in 2019 533,000 vehicles in 2020 590,000 vehicles in Q4 2021. 655,000 vehicles in 2022 The rebuilding of rental car fleets was one of the causes of the increase in used car prices. In normal years, 20% of used cars in the United States are supplied by rental car fleets. When the rental car shortage began in 2021, the rental car companies stopped selling their cars and held on to them for longer.
by talzara
Fri Feb 24, 2023 5:57 pm
Forum: Personal Consumer Issues
Topic: Cheated by a car rental company
Replies: 75
Views: 8470

Re: Cheated by a car rental company

twh wrote: Thu Feb 23, 2023 7:29 pm Rental company claimed tow fee and damages to the car. Damages would be covered by AMEX insurance.
Damage would be covered, but towing would not be covered.

Towing is only covered after a covered accident. Since American Express Premium Car Rental Protection excludes both "mechanical breakdown" and "electrical failure," the OP was not in a covered accident, so the towing is also not covered.
3. charges related to the Rental Car subsequent to the Accident, such as expenses for towing ...

https://feeservices.americanexpress.com ... verage.pdf
by talzara
Thu Feb 23, 2023 7:11 pm
Forum: Personal Consumer Issues
Topic: Cheated by a car rental company
Replies: 75
Views: 8470

Re: Cheated by a car rental company

tibbitts wrote: Thu Feb 23, 2023 1:12 am But credit card insurance, primary or otherwise, doesn't cover the issues the OP experienced.
Starfish wrote: Thu Feb 23, 2023 1:16 pm I thought it covers and rental car company clam for damaged vehicle. I did nit read the fine print though.
The OP had trouble starting the car.

Credit card CDW always excludes mechanical breakdowns. Even American Express Premium Car Rental Insurance excludes it:
Excluded Actions
...
8. freezing and mechanical breakdown or electrical failure, except where it results from Theft;

https://feeservices.americanexpress.com ... verage.pdf
by talzara
Thu Feb 23, 2023 2:45 pm
Forum: Personal Consumer Issues
Topic: AMEX Personal Auto Protection
Replies: 10
Views: 998

Re: AMEX Personal Auto Protection

I claimed a dent on AMEX but had to go through my personal first - so I paid my deductable and then AMEX/USAA covered the rest. Here is the link the AMEX premium rental insurance. https://feeservices.americanexpress.com/premium/car-rental-insurance-coverage/home.do That's not what the OP asked about. The OP asked about flat tires and dead batteries, which are excluded in the AMEX policy: Excluded Items ... 3. tires, unless other Damage occurs to the Rental Car from the same Accident, or Theft of the entire Rental Car occurs; ... Excluded Actions ... 8. freezing and mechanical breakdown or electrical failure, except where it results from Theft; https://feeservices.americanexpress.com/premium/images/SampleDescriptionofCoverage.pdf
by talzara
Thu Feb 23, 2023 2:39 pm
Forum: Personal Consumer Issues
Topic: AMEX Personal Auto Protection
Replies: 10
Views: 998

Re: AMEX Personal Auto Protection

So, if you use the rental car's insurance does that cover a flat tire, dead battery while on the road? No, CDW only covers collision damage. The rental car companies offer roadside assistance for an additional daily fee. It's just as overpriced as CDW. It's nearly all profit. It costs much less to subscribe to a roadside assistance service. Some credit cards also offer roadside assistance at a negotiated rate per call. On toll roads, there are franchised service providers that charge a regulated rate. On major interstate highways in congested areas, limited roadside assistance is sometimes available for free. I haven't rented a car recently and the other thread got me thinking. What is the best path forward when currently renting a car? Yo...
by talzara
Thu Feb 23, 2023 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax use but don’t file
Replies: 11
Views: 1126

Re: TurboTax use but don’t file

mega317 wrote: Thu Feb 23, 2023 8:53 am I do exactly what you are proposing. You can see the complete 1040 and schedules 1-3 without paying.
mega317 wrote: Thu Feb 23, 2023 1:35 pm Yes. No payment, no disc, no download, browser only. I have done this on a chromebook. I haven't paid for turbotax in about 7 years.
viewtopic.php?p=7125720&hilit=1040#p7125720
Does that also work for state?

The OP is "particularly" interested in checking the state return.
cookienadal wrote: Thu Feb 23, 2023 8:06 am Particularly I’m not sure I entered an ETF with trasury bonds correctly to be exempted from state tax.
by talzara
Tue Feb 21, 2023 3:01 pm
Forum: Personal Consumer Issues
Topic: Does Umbrella Policy cover Fire Damages
Replies: 8
Views: 822

Re: Does Umbrella Policy cover Fire Damages

enad wrote: Tue Feb 21, 2023 1:45 pm Does the original homeowners policy cover fire?
If it's a true umbrella, then it doesn't matter. A true umbrella policy covers losses for which you are liable. Umbrella policies have their own exclusions, but anything else is covered by the umbrella, even if it is excluded by the underlying policy.

A following form (excess liability) policy covers losses that exceed your underlying policy limits. Only losses that are covered by the underlying policies are covered by the excess liability.

Both types of policies are offered by the large national insurers. State Farm's umbrella is a true umbrella, but Allstate's umbrella is a following form policy.
by talzara
Tue Feb 21, 2023 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Foreign tax credit help Turbox Online
Replies: 21
Views: 1531

Re: Foreign tax credit help Turbox Online

Thanks, yeah, in that case i'll just let the $28 go. You only have to carry back if you had foreign income last year, or else you'd have no FTC, so you can just let TT carry it forward by default That's a good point. In fact, you don't have to carryback even if you had foreign income last year, as long as you made the simplified credit election. $312 is just over the $300 limit for the simplified credit, so it may have been $300 or less in 2021. You only have to carryback if you used form 1116 last year. If you made the simplified credit election, you don't have to carryback. You also don't lose the carryback that you would've used if you'd filed form 1116: Don't reduce the carryback or carryforward by the amount you would have used in the...
by talzara
Tue Feb 21, 2023 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to attach supporting document to FreeTaxUSA e-filed return?
Replies: 20
Views: 1773

Re: How to attach supporting document to FreeTaxUSA e-filed return?

midwest_bound wrote: Tue Feb 21, 2023 8:58 am Would you say they generally send a letter when filing a claim of right credit? Or is there a chance they just accept it?
I don't have the statistics for what percentage of claims the IRS accepts without asking for documentation.
by talzara
Mon Feb 20, 2023 7:39 pm
Forum: Investing - Theory, News & General
Topic: why would you buy mutual funds when the ETF is cheaper?
Replies: 79
Views: 8237

Re: why would you buy mutual funds when the ETF is cheaper?

The bid/ask and premium/discount concerns seem rather silly for the highly-liquid ETFs that do have exact MF counterparts: why worry about being a cent off the NAV when you execute an order at 9:31am when the alternative is waiting for whatever random NAV the fund lands at at 4pm? :? The net asset value is unknown, but it is not random. It's set by the closing auction. As we learned last month, the opening and closing auctions are the true price discovery mechanisms in the stock market: https://www.bogleheads.org/forum/viewtopic.php?t=396054 All the large investors trade at the opening and closing. The opening and closing prices are the true prices, and intraday prices are random. You can trade in the closing auction, too, if you use mutua...
by talzara
Mon Feb 20, 2023 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: How to attach supporting document to FreeTaxUSA e-filed return?
Replies: 20
Views: 1773

Re: How to attach supporting document to FreeTaxUSA e-filed return?

I believe the delay was after mailing the IRS, so it took maybe 2 months to get the initial letter and 6 additional months before I got my refund. Would you recommend filing by mail? Or just submitting the e-file and then waiting? I thought maybe I could preempt their letter asking for evidence by sending a letter as soon as I file? I would recommend e-filing as soon as possible. The earlier you file, the sooner you'll receive the letter, the sooner you can send in the evidence, and the closer you'll be to the front of the line. There IRS does not have a process to receive paper attachments to an e-filed return. You should wait for the letter. The Taxpayer Advocate has recommended that the IRS set up a website for uploading attachments tha...
by talzara
Mon Feb 20, 2023 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act 2.0 - 2024 and Beyond Company Match and > 63 Catch up Question
Replies: 9
Views: 879

Re: Secure Act 2.0 - 2024 and Beyond Company Match and > 63 Catch up Question

Not all company will offer every new options right out of the gate. My plan still require full distribution at 70.5 for all retirees even when RMD now start at 75 for many. That doesn't sound legal. Also you can always roll it to an IRA at a place that follows the new rules. IRC § 401(a)(9)(A) is written as "not later than the required beginning date." It is legal for a 401(k) plan to require earlier distributions. It is illegal for a plan to allow distributions to begin after the RBD. Well-written plan documents will just refer to the Internal Revenue Code instead of putting the number in the plan. That way, the plan won't have to be changed if the law changes. (9) Required distributions.- (A) In general.-A trust shall not const...
by talzara
Mon Feb 20, 2023 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Foreign tax credit help Turbox Online
Replies: 21
Views: 1531

Re: Foreign tax credit help Turbox Online

Thanks for all the responses, I am not quite sure still how this works but I was able to pay for the online version and look at the Form 1116, it does list $28 as carryover on Schedule B Line 8 so I will not bother with it at this time and try to figure it out later since I can claim the amount on next years taxes. You cannot claim the amount on next year's taxes. Any unused credit must first be carried back 1 year by filing an amended 2021 tax return. You cannot carryover to next year unless you've already used the maximum carryback to last year. Of course, you can also decide to give up the $28 if you don't want to file an amended tax return. 26 CFR § 1.904-2 - Carryback and carryover of unused foreign tax. (b) Years to which foreign tax...
by talzara
Mon Feb 20, 2023 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella policy rate nearly doubled
Replies: 24
Views: 3483

Re: Umbrella policy rate nearly doubled

How do you get umbrella insurance if you don't bundle auto and car? State Farm has very competitive auto rates but their home rates are really high. I think it is important for the Umbrella to be the same company as auto, but also want to umbrella over the home. There are standalone umbrella insurers. RLI was already mentioned in this thread, and there are others. In fact, GEICO has been turning people down for umbrella and placing them with RLI in some states. There have been several reports of this happening on the GEICO threads. In addition, some insurance companies will write umbrella over their own homeowners policy and another company's auto policy. It's uncommon because umbrella is usually bundled with auto, but it does happen. Ther...
by talzara
Mon Feb 20, 2023 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Foreign tax credit help Turbox Online
Replies: 21
Views: 1531

Re: Foreign tax credit help Turbox Online

The dividends from my International Fund are $3,805 and my marginal tax rate is 32%. So if the dividends are not qualified the US taxes due would be $1,218 well over the FTC, even if the dividends were qualified at 15% rate it would be well over the FTC at around $571 The installed version of TurboTax has a forms view, which has a lot of useful features. One of them is being able to trace a line back to the numbers that were used to calculate it. Another one is being able to edit the forms instead of going through the interview. TurboTax Online doesn't have a forms view. It only has PDF forms, and you can only see those if you pay first. You can't trace numbers, and you can't edit the forms. Troubleshooting in TurboTax Online is done by go...
by talzara
Sun Feb 19, 2023 7:51 pm
Forum: Investing - Theory, News & General
Topic: Melancholy Tale: Parents Had Pension, Social Security, SPIA & TIPS, but …
Replies: 254
Views: 33492

Re: Melancholy Tale: Parents Had Pension, Social Security, SPIA & TIPS, but …

That said, we can't armchair quarterback too much people who lived through such different times than today. If I was haunted by 1929 (even if I only experienced the effects as children) I'd be pretty leery about investing in stocks, too. You need to remember he is a professor. A professor would know about the history of TIAA-CREF. When TIAA introduced CREF in 1952, it wasn't sure if professors would be willing to put their retirement savings in stocks. They were. They may have remembered the Great Crash of 1929, but they had just experienced 20% inflation in 1947 after the lifting of World War II price controls. Professors knew about the power of inflation to erode a fixed annuity. They were willing to take a chance on stocks to avoid the ...
by talzara
Sun Feb 19, 2023 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Problems with HR Block 2022 e-File!
Replies: 26
Views: 2842

Re: Problems with HR Block 2022 e-File!

mega317 wrote: Sun Feb 19, 2023 9:00 am
jebmke wrote: Sun Feb 19, 2023 8:10 am The IRS runs a matching program to detect missing income and sends invoices for back taxes and interest.
And are they just doing this for thousands and thousands of people ignorantly filing taxes with not-yet-ready software?
No, the IRS document matching program began in 1974.

Large tax preparers were already starting to use minicomputers, but there was no tax software for personal computers yet.
by talzara
Sun Feb 19, 2023 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to attach supporting document to FreeTaxUSA e-filed return?
Replies: 20
Views: 1773

Re: How to attach supporting document to FreeTaxUSA e-filed return?

GuyInFL wrote: Sun Feb 19, 2023 6:17 pm
mega317 wrote: Sat Feb 18, 2023 1:16 pm OP, I'd send them a message. They respond pretty fast.
+1
Typically less than 24 hrs
FreeTaxUSA already told the OP that the software cannot e-file an attachment:
midwest_bound wrote: Sun Feb 19, 2023 9:32 am I talked to FreeTaxUSA and they said I would need to file by paper to attach a letter.
by talzara
Sun Feb 19, 2023 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: How to attach supporting document to FreeTaxUSA e-filed return?
Replies: 20
Views: 1773

Re: How to attach supporting document to FreeTaxUSA e-filed return?

Yeah, this will be a low five-figures refund this year, so I'm failure sure they won't just blindly accept it. What is an example of professional tax software? Can I use this software myself? Professional tax software is used by tax preparers. You have to register with the IRS as a tax preparer and pay a registration fee. The IRS will give you an ID, and you have to enter your ID in the software before you can use it. I would only recommend professional tax software to people who are experienced with forms view in TurboTax, H&R Block, or TaxAct. I would not recommend it to someone who has only used TaxHawk (FreeTaxUSA) or an interview-based program. Professional tax software is designed for speed of data entry, not ease of use. Was the...
by talzara
Sun Feb 19, 2023 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of Title Insurance
Replies: 18
Views: 1320

Re: Cost of Title Insurance

Probating the Will is generally a small part of the work in administering an estate. I don't know why people here are concerned about it. That's exactly my point. You're not concerned about probate, but other people are. That's why the non-probate revolution happened! Even state legislatures got involved. Some states didn't allow TOD accounts until recently. State legislators, many of whom were lawyers, recognized that their constituents wanted to transfer accounts outside of probate, and they passed laws to make it possible. You're also not concerned about the cost of title insurance, but other people are. Not as many as probate, which is why nothing has been done about it yet. Probate has advantages, and title insurance has advantages. Y...
by talzara
Sun Feb 19, 2023 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of Title Insurance
Replies: 18
Views: 1320

Re: Cost of Title Insurance

The cost also covers the title search, their work in clearing liens, and their work in getting the deed and mortgage recorded. In addition to encumbrances that a search should pick up, there could be forged deeds, undisclosed heirs (for example, if someone dies without a Will, the real estate passes to his/her heirs, and the people claiming to be the heirs might have sold the property but there could be another heir who wasn't a party to the sale), or unrecorded liens (such as for Federal estate taxes). It also covers the help they provide us even when there's no title insurance involved. They'll record deeds and mortgages for a nominal fee. Where they're not available online, they'll get us copies of recorded instruments for a nominal fee...
by talzara
Sun Feb 19, 2023 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: How to attach supporting document to FreeTaxUSA e-filed return?
Replies: 20
Views: 1773

Re: How to attach supporting document to FreeTaxUSA e-filed return?

MillennialFinance19 wrote: Sun Feb 19, 2023 9:44 am Are you sure you need to attach this “evidence”? What is the situation?
That's the problem. A claim of right does not require evidence to be attached, which is why the OP was able to e-file without it. However, the IRS wouldn't approve the refund without evidence.

The OP wants to attach evidence even though it is not required, and consumer tax software can't do that. Professional tax software can attach any statement, even when it is not required. Tax preparers know that the IRS won't approve certain refunds without evidence, so the software has to let them attach whatever they want.
by talzara
Sun Feb 19, 2023 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: How to attach supporting document to FreeTaxUSA e-filed return?
Replies: 20
Views: 1773

Re: How to attach supporting document to FreeTaxUSA e-filed return?

How many months did you wait for your refund last year? If you got your refund more quickly than the paper return backlog, then it may be faster to e-file without the evidence. The backlog of paper returns at the IRS was down to 10 months in December 2022, and it should be in single digit months by now. I think it might have been 6ish months. I don't know exactly. So paper filing will have a similar delay? Yes, the paper returns will be delayed by single digit months. We don't know if it'll be 4 months or 8 months, but it's not going to be 4 weeks like it used to be in 2019. E-filing would be better in a situation like this. It's not just the delay. Paper returns are typed in by hand, and the IRS employees sometimes introduce typos that ar...
by talzara
Sat Feb 18, 2023 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of Title Insurance
Replies: 18
Views: 1320

Re: Cost of Title Insurance

It's a money grab. It boils down to an insurance policy in essence. A buyer can and should be able to do a title search for a fee that should cover all parties concerned. Having another much larger fee for another search based on a percentage of the sale is a money grab. Title searches do not turn up all possible defects. There could be a typo in the database. For a title search to be effective, a system of land registration is necessary. In this system, the government land registry records the owner of each property. You don't have to trace a chain of deeds back in time. If the land registry says that you have title to the property, then you have title to the property, period. Land registration is the standard in most of the United Kingdo...
by talzara
Sat Feb 18, 2023 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: State Tax Return Software
Replies: 38
Views: 2699

Re: State Tax Return Software

rooms222 wrote: Sat Feb 18, 2023 2:35 pm To the end of being on track, did the OP ever mention what state he is looking to model?
No, and you're not the first person to ask. The OP never replied to the fourth post on this thread:
enad wrote: Thu Feb 16, 2023 11:06 pm For what state?
by talzara
Sat Feb 18, 2023 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: How to attach supporting document to FreeTaxUSA e-filed return?
Replies: 20
Views: 1773

Re: How to attach supporting document to FreeTaxUSA e-filed return?

midwest_bound wrote: Sat Feb 18, 2023 7:06 pm So perhaps I will just have to file by mail and include the evidence in that claim? Or I can just go ahead and e-file and wait for the IRS to reach out to me again.
How many months did you wait for your refund last year? If you got your refund more quickly than the paper return backlog, then it may be faster to e-file without the evidence.

The backlog of paper returns at the IRS was down to 10 months in December 2022, and it should be in single digit months by now.
by talzara
Sat Feb 18, 2023 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of Title Insurance
Replies: 18
Views: 1320

Re: Cost of Title Insurance

I am selling my house in northern Illinois. Sale price is $650k. I just got the settlement form, and I am being charged $3k+ for an owners title insurance policy. I know that it is customary in this area for the seller to pay for the owners title insurance policy, and the buyer to pay for the mortgage title insurance. The price for the title insurance seems excessive to me. Any experience with this? You are correct that the cost of title insurance is excessive. Title insurance has an industrywide loss ratio of 0.5% and a loss and LAE ratio of 5%. On average, a $3,000 title insurance policy provides about $15 worth of title insurance, $135 of legal insurance, and $150 of overhead and profit. The other $2,700 is wasted on marketing and commi...
by talzara
Sat Feb 18, 2023 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: How to attach supporting document to FreeTaxUSA e-filed return?
Replies: 20
Views: 1773

Re: How to attach supporting document to FreeTaxUSA e-filed return?

I'm filing my federal tax return using FreeTaxUSA and I found their FAQ explaining how to attach a document to an e-filed return: https://www.freetaxusa.com/help/display_faq.jsp?faq_id=10243 However, I don't actually see the attach document option mentioned. Since the option is limited to "certain documents" perhaps the File Attachment Screen is not offered unless the software thinks your tax return includes a situation amenable to attachment of one of the "certain documents" they support. But that is just speculation. That's one of the differences between consumer tax software and professional tax software. Consumer tax software can only attach statements to certain lines that are defined by the software. Professional ...
by talzara
Sat Feb 18, 2023 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: State Tax Return Software
Replies: 38
Views: 2699

Re: State Tax Return Software

It isn't what you think. Take Mississippi for example, they want your W2's, your 1099's...the return has several places where it says "attach Federal form XYZ". The bottom line is that the information gathered that allows the completion of the Federal return is used to fill in the State return. When the FTA chart says that AL, AR, MS, NJ, and PA don't use the federal tax return as the "starting point," it means that these five states have their own definitions of income. Mississippi asks you to attach the federal forms because you've already filled them out. You have to attach a reconciliation of the federal numbers to the Mississippi numbers, and you have to do it yourself because it's not part of the Mississippi tax r...
by talzara
Fri Feb 17, 2023 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: First time efile for minor under age 16
Replies: 8
Views: 587

Re: First time efile for minor under age 16

SuperDave wrote: Fri Feb 17, 2023 2:39 pm But when I go to efile TurboTax won't let me as it claims IRS rules require first time filers under age 16 to paper file. However, this is not technically correct, apparently if one uses the Pin Practioner Method you can efile. I looked over the return and it has both her and my social security numbers on it making me very reluctant to mail this in.
TurboTax is consumer tax software.

Tax preparers use professional tax software, which is not available for free. You also have to pay the IRS to register as a tax preparer.

14 million individual tax returns were filed on paper in 2022. Misdelivered mail is unlikely because the IRS processing centers are assigned entire ZIP codes.
by talzara
Fri Feb 17, 2023 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: State Tax Return Software
Replies: 38
Views: 2699

Re: State Tax Return Software

MarkNYC wrote: Fri Feb 17, 2023 4:22 pm That chart is for state corporate income tax, not individual income tax?
Sorry, I linked to the wrong chart. Here's the chart for state personal income taxes: https://www.taxadmin.org/assets/docs/Re ... tg_pts.pdf

There are 5 states that do not use the federal individual income tax return as a starting point: the Deep South trio of Alabama, Arkansas, and Mississippi, and the Mid-Atlantic duo of New Jersey and Pennsylvania. It's interesting that they're in two geographical clusters.
by talzara
Fri Feb 17, 2023 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: State Tax Return Software
Replies: 38
Views: 2699

Re: State Tax Return Software

twh wrote: Thu Feb 16, 2023 11:10 pm In all cases, the State return takes numbers from the Federal return.
hachiko wrote: Fri Feb 17, 2023 12:14 am State returns start with federal numbers, so federal has to be prepared to prepare the state return. It wouldn't make sense for a company to offer a "state tax only" offering, because they'd still have to get all the federal rules in there.
Two states do not use the federal return as a starting point: https://www.taxadmin.org/assets/docs/Re ... tg_pts.pdf

Tax software companies will not rewrite their software for two states. They'll find a way to make their federal + state software work. Those two state programs are probably buggier than the other states.
by talzara
Fri Feb 17, 2023 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Post-car crash rental coverage
Replies: 5
Views: 840

Re: Post-car crash rental coverage

toddthebod wrote: Fri Feb 17, 2023 8:42 am Your insurer will also help arrange a rental while your car is in the shop, and they will again get reimbursed by the other company.
Your insurer will not pay for a rental if you do not have rental coverage.

The OP does not have rental coverage. It will be necessary to get the at-fault driver's liability insurance to pay for it.