Search found 83 matches

by TheAccountant
Tue Sep 18, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to protect personal assets when freelancing?
Replies: 8
Views: 538

Re: Best way to protect personal assets when freelancing?

After researching this it looks like single-member LLCs aren't as protected as people make them out to believe. Since they're single member, it's easy to piece the corporate veil and come after the owner's assets if the business' assets don't cover the alleged litigation. It's multi-member LLCs that...
by TheAccountant
Tue Sep 18, 2018 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to protect personal assets when freelancing?
Replies: 8
Views: 538

Re: Best way to protect personal assets when freelancing?

Talk to an insurance broker that specializes in business lines. But I would this to give you a baseline of knowledge. [read the whole thing] https://en.wikipedia.org/wiki/Professional_liability_insurance This is what I plan on purchasing. The only thing the insurance doesn't cover is creditors comi...
by TheAccountant
Tue Sep 18, 2018 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to protect personal assets when freelancing?
Replies: 8
Views: 538

Re: Best way to protect personal assets when freelancing?

Talk to an insurance broker that specializes in business lines. But I would this to give you a baseline of knowledge. [read the whole thing] https://en.wikipedia.org/wiki/Professional_liability_insurance This is what I plan on purchasing. The only thing the insurance doesn't cover is creditors comi...
by TheAccountant
Tue Sep 18, 2018 2:59 pm
Forum: Personal Consumer Issues
Topic: New SUV
Replies: 24
Views: 1988

Re: New SUV

I just leased a 2018 JL Wrangler for $368/mo including tax for a $39k MSRP car and I paid $0 up front, all taxes and fees were rolled into the lease. Buying the same car with a 60-month loan would’ve cost $700/month. I can also write off the entire lease payment since I’m self employed. Leasing isn...
by TheAccountant
Tue Sep 18, 2018 2:52 pm
Forum: Personal Consumer Issues
Topic: New SUV
Replies: 24
Views: 1988

Re: New SUV

Lets be honest - has anybody really talked about their car and said "I didn't get a good deal on it?" Run the numbers yourself on the lease and you'll quickly determine that it's the highest margin sale on new cars for the dealership. Have you checked out the Chevy Blazer that's returning for 2019?...
by TheAccountant
Tue Sep 18, 2018 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 69
Views: 4919

Re: Leasing Cars in Retirement

I recently bought a boat by "triggering a taxable event." In my case I had funds specifically earmarked for a purchase such as this (car, truck, boat, etc.) So I'd have to ask you - if you're not willing to spend the money on a car, then what else are you using that money for? Put it this way - lea...
by TheAccountant
Tue Sep 18, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to protect personal assets when freelancing?
Replies: 8
Views: 538

Best way to protect personal assets when freelancing?

I've been asked numerous times over the years to help others with their small business bookkeeping. This year I've decided to take on the role on a part-time basis. I'm trying to figure out the best way to protect my personal assets (retirement, home, etc.) from litigation. An LLC seems like a huge ...
by TheAccountant
Tue Sep 18, 2018 12:20 pm
Forum: Personal Consumer Issues
Topic: Inexpensive source for greeting cards?
Replies: 27
Views: 1447

Re: Inexpensive source for greeting cards?

I've found that the free printable ones online are the best -I customize them myself before printing.

People get a bigger kick out of these than any pre-made card I've ever purchased. Plus the price simply cannot be beat!
by TheAccountant
Tue Sep 18, 2018 11:27 am
Forum: Personal Consumer Issues
Topic: New SUV
Replies: 24
Views: 1988

Re: New SUV

Lets be honest - has anybody really talked about their car and said "I didn't get a good deal on it?" Run the numbers yourself on the lease and you'll quickly determine that it's the highest margin sale on new cars for the dealership. Have you checked out the Chevy Blazer that's returning for 2019? ...
by TheAccountant
Tue Sep 18, 2018 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 69
Views: 4919

Re: Leasing Cars in Retirement

I recently bought a boat by "triggering a taxable event." In my case I had funds specifically earmarked for a purchase such as this (car, truck, boat, etc.) So I'd have to ask you - if you're not willing to spend the money on a car, then what else are you using that money for? Put it this way - leas...
by TheAccountant
Wed Jul 18, 2018 10:03 am
Forum: Personal Consumer Issues
Topic: 35 minute connection for flight, long enough?
Replies: 65
Views: 3825

Re: 35 minute connection for flight, long enough?

Definitely do-able. I've been sitting here for 45 minutes on my 1-hour layover.
by TheAccountant
Wed Jul 18, 2018 10:00 am
Forum: Personal Consumer Issues
Topic: 35 minute connection for flight, long enough?
Replies: 65
Views: 3825

Re: 35 minute connection for flight, long enough?

I like an hour between flights to give time to use the bathroom, grab a bite to eat, etc.
by TheAccountant
Wed Jul 18, 2018 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Received IRS notice CP 2000 asking more tax. Need help.
Replies: 18
Views: 1906

Re: Received IRS notice CP 2000 asking more tax. Need help.

Pretty sure you have to use actual expenses with the 529. You can't just use estimates from the school's website.

Your registrar/billing transcript would be a better source doc. If you can match the expenses on that with allowable 529 expenses then you're fine.
by TheAccountant
Wed Jul 18, 2018 9:48 am
Forum: Personal Consumer Issues
Topic: Have you ever purchased a pricy musical instrument?
Replies: 82
Views: 4526

Re: Have you ever purchased a pricy musical instrument?

Phil Rudd's drumset. I've been playing for 16 years and to me it was worth every penny.
by TheAccountant
Sat Jul 14, 2018 10:43 am
Forum: Investing - Help with Personal Investments
Topic: Dave Ramsey made me laugh today
Replies: 63
Views: 6951

Re: Dave Ramsey made me laugh today

Many growth and income funds use bonds for part of their income. American funds are sort of alluded to by Dave, and if you look at American funds growth and income portfolio (GAIOX), it has 18% bonds and 5% cash. You wouldn’t know this unless you read the prospectus or looked it up at Morningstar. ...
by TheAccountant
Fri Jul 13, 2018 8:33 pm
Forum: Investing - Help with Personal Investments
Topic: Dave Ramsey made me laugh today
Replies: 63
Views: 6951

Re: Dave Ramsey made me laugh today

It's safe to say that this thread is not actionable. I'm not sure if the OP is just trying to troll with the repeated implication that DR is too dumb to realize what he owns. The topic of this thread is essentially: "do you think DR knows if he owns bonds or not". Anyone in DR's position (estimated...
by TheAccountant
Fri Jul 13, 2018 8:32 pm
Forum: Investing - Help with Personal Investments
Topic: Dave Ramsey made me laugh today
Replies: 63
Views: 6951

Re: Dave Ramsey made me laugh today

I'm not trolling. I just thought it was funny how his advice went against the founder of Vanguard's advice.
by TheAccountant
Fri Jul 13, 2018 7:42 pm
Forum: Investing - Help with Personal Investments
Topic: Dave Ramsey made me laugh today
Replies: 63
Views: 6951

Re: Dave Ramsey made me laugh today

I was listening to his podcast and he basically said this: "Bonds are stupid, they decrease in value in rising interest rates. I don't own any bonds and all of my mutual funds are in stocks." He then rattled off his usual "growth, growth/income, aggressive growth, international" allocation. Seems s...
by TheAccountant
Fri Jul 13, 2018 3:23 pm
Forum: Investing - Help with Personal Investments
Topic: Dave Ramsey made me laugh today
Replies: 63
Views: 6951

Re: Dave Ramsey made me laugh today

I was listening to his podcast and he basically said this: "Bonds are stupid, they decrease in value in rising interest rates. I don't own any bonds and all of my mutual funds are in stocks." He then rattled off his usual "growth, growth/income, aggressive growth, international" allocation. Seems s...
by TheAccountant
Fri Jul 13, 2018 3:04 pm
Forum: Investing - Help with Personal Investments
Topic: Dave Ramsey made me laugh today
Replies: 63
Views: 6951

Dave Ramsey made me laugh today

I was listening to his podcast and he basically said this: "Bonds are stupid, they decrease in value in rising interest rates. I don't own any bonds and all of my mutual funds are in stocks." He then rattled off his usual "growth, growth/income, aggressive growth, international" allocation. Seems si...
by TheAccountant
Tue Jul 10, 2018 7:37 pm
Forum: Personal Consumer Issues
Topic: Should I contact GMC about A/C issues?
Replies: 42
Views: 2127

Re: Should I contact GMC about A/C issues?

Did they replace the evaporator? Sounds like there was moisture in the system and/or they didn't put the right amount of oil in. That's wayyyy too early for a compressor to fail, especially with AC work already performed on it.
by TheAccountant
Tue Jul 10, 2018 6:20 pm
Forum: Personal Consumer Issues
Topic: Replace water heater at end of warranty or repair?
Replies: 31
Views: 2259

Re: Replace water heater at end of warranty or repair?

Repair it unless it's rusted out and leaking somewhere. First flush it to remove sediment. You should be doing this as part of routine house maintenance anyway. How often should you flush hot water heater? How do you go about flushing it? I last installed my water heater last December. Check the ow...
by TheAccountant
Tue Jul 10, 2018 4:33 pm
Forum: Personal Consumer Issues
Topic: Replace water heater at end of warranty or repair?
Replies: 31
Views: 2259

Re: Replace water heater at end of warranty or repair?

Repair it unless it's rusted out and leaking somewhere.

First flush it to remove sediment. You should be doing this as part of routine house maintenance anyway.
by TheAccountant
Tue Jul 10, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Quickbooks Bill Pay Limits
Replies: 6
Views: 421

Re: Quickbooks Bill Pay Limits

Are you sure it's not a limit imposed by your bank? Can you go to preferences and see if there's a setting that can be changed? I'm an Accountant for a company that probably does 30 million a year in sales. They have probably 20 million in payables. I use Bill.com exclusively, and think it's 100% wo...
by TheAccountant
Mon Jul 09, 2018 8:24 pm
Forum: Investing - Theory, News & General
Topic: WCI blog post - "This Real Estate Bubble - Likely Isn't a Bubble"
Replies: 58
Views: 6965

Re: WCI blog post - "This Real Estate Bubble - Likely Isn't a Bubble"

I just read an interesting guest post on the White Coat Investor blog titled " This Real Estate Bubble - Likely Isn't a Bubble ." The author brings up ten interesting data-driven points. These are below, along with a brief summary of my own in brackets for some. 1. Housing is more affordable today ...
by TheAccountant
Mon Jul 09, 2018 5:14 pm
Forum: Investing - Theory, News & General
Topic: WCI blog post - "This Real Estate Bubble - Likely Isn't a Bubble"
Replies: 58
Views: 6965

Re: WCI blog post - "This Real Estate Bubble - Likely Isn't a Bubble"

I just read an interesting guest post on the White Coat Investor blog titled " This Real Estate Bubble - Likely Isn't a Bubble ." The author brings up ten interesting data-driven points. These are below, along with a brief summary of my own in brackets for some. 1. Housing is more affordable today ...
by TheAccountant
Sun Jul 01, 2018 4:32 pm
Forum: Investing - Help with Personal Investments
Topic: Three-Fund Portfolio vs. Lifestrategy Income Fund in Taxable Account
Replies: 8
Views: 978

Three-Fund Portfolio vs. Lifestrategy Income Fund in Taxable Account

I know a client who used the Vanguard LifeStrategy Income fund for saving for a new vehicle recently, and it worked out well for them. I was going to suggest that they use it again, but was curious as to your thoughts on using a 3-fund portfolio in place of the LifeStrategy Income Fund: https://inve...
by TheAccountant
Sun Jul 01, 2018 4:24 pm
Forum: Personal Consumer Issues
Topic: New car dealerships offering (included) lifetime warranties?
Replies: 13
Views: 1548

Re: New car dealerships offering (included) lifetime warranties?

If they don't get you on the purchase price, they'll get you in the service department because your vehicle won't be able to be serviced ANYWHERE except at their dealership. Also expect to pay 2x more for "dealer recommended services." Missed that oil change by a week or 50 miles? Goodbye warranty. ...
by TheAccountant
Sun Jul 01, 2018 2:46 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey against index funds?
Replies: 57
Views: 6000

Re: Dave Ramsey against index funds?

Getting out of debt and doing things on the cash basis is a strong factor to building personal wealth for the everyday American. Of course it's easy to come in here and brag about how much money you're making with that second property you bough with 2% down a few years ago that just so happened to a...
by TheAccountant
Sun Jul 01, 2018 2:43 pm
Forum: Personal Consumer Issues
Topic: Can I buy a Tesla?
Replies: 108
Views: 8097

Re: Can I buy a Tesla?

If you really want the car, I'd buy it and then daily drive something like I mentioned above to keep the miles off the 3 and keep resale up. If you don't want it after a year or two you can probably sell it for close to what you paid for it, given the current demand. So you can spend 5k drive a bea...
by TheAccountant
Sun Jul 01, 2018 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: How much (green) cash at home for emergency ?
Replies: 169
Views: 15336

Re: How much (green) cash at home for emergency ?

Honestly I'd just buy a Lifestraw and live off-grid for a few days with some basic camping gear instead of keeping 10 grand in a safe inside my house. To each their own, though.
by TheAccountant
Fri Jun 29, 2018 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: How much (green) cash at home for emergency ?
Replies: 169
Views: 15336

Re: How much (green) cash at home for emergency ?

After riding out Irma, the lines at the stores for general goods needed were insane. Luckily I drive a gasoline tanker, so gas wasn't an issue. But cash was an issue. Cell networks were down for a bit, lots of places had no power, and the ATM's will run out of money! I keep about $3000 in the gun s...
by TheAccountant
Fri Jun 29, 2018 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: How much (green) cash at home for emergency ?
Replies: 169
Views: 15336

Re: How much (green) cash at home for emergency ?

Portions of my state are now flooding with evacuations in progress. To the best of my knowledge this area has never flooded before in recorded history. I've been through floods and hurricanes. I have not been through wild fires, earthquakes, volcanoes, large electrical grid outages, etc. My questio...
by TheAccountant
Fri Jun 29, 2018 7:49 pm
Forum: Personal Consumer Issues
Topic: Can I buy a Tesla?
Replies: 108
Views: 8097

Re: Can I buy a Tesla?

Do you really want a car that was rushed through QC to meet demand, and was basically made in a tent? Your net worth is pretty low given your income. I'd work on that and drive whatever gets the job done for the least amount of money. Can you afford it? I'm guessing you can write a check and pay for...
by TheAccountant
Fri Jun 29, 2018 7:47 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey against index funds?
Replies: 57
Views: 6000

Re: Dave Ramsey against index funds?

Hi all- I have been listening to Dave Ramsey lately and noticed there is a theme: he is against investing in index funds and believes you can find funds that beat the market. Well I’m a relatively young investor (30 years old) and predominantly invest in low cost index funds based on all the knowle...
by TheAccountant
Fri Jun 29, 2018 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: What is/ was your career and would you recommend it now?
Replies: 345
Views: 34746

Re: What is/ was your career and would you recommend it now?

Senior Accountant for a small tech firm. I've always enjoyed working with numbers, and money in particular. I like knowing exactly how much things cost, and using tech to figure out this information. You can do an awful lot with a good set of data on your hands. I'd recommend it if you're good at st...
by TheAccountant
Thu Jun 28, 2018 8:56 pm
Forum: Personal Consumer Issues
Topic: Am I wasting money on my old car?
Replies: 34
Views: 3562

Re: Am I wasting money on my old car?

You usually upgrade cars for the convenience factor, not to save money. Even with repairs factored in, that new car is going to depreciate as much as the repairs in the first year. Then you have sales tax, registration, etc. The math almost never works out.
by TheAccountant
Thu Jun 28, 2018 7:55 pm
Forum: Investing - Theory, News & General
Topic: Dave Ramsey against index funds?
Replies: 57
Views: 6000

Re: Dave Ramsey against index funds?

You can save like Dave, just don't invest like him.
by TheAccountant
Thu Jun 28, 2018 7:51 pm
Forum: Personal Consumer Issues
Topic: Buying a truck - Honda Ridgeline vs Chevrolet Silverado 1500?
Replies: 98
Views: 6518

Re: Buying a truck - Honda Ridgeline vs Chevrolet Silverado 1500?

Fix the Civic and buy a farm truck. Something old, used, but in good mechanical condition. You really don't need a $ 35,000+ truck to haul feed around and drive on some dusty back roads. I If you're dead-set on a new truck then check out the Colorado. Just as tough as a full size truck (real frame, ...
by TheAccountant
Thu Jun 28, 2018 7:49 pm
Forum: Personal Consumer Issues
Topic: Best way to clean eyeglasses?
Replies: 59
Views: 4110

Re: Best way to clean eyeglasses?

Dish soap, cold water, and your finger.

Even using a soft wipe scratches those stupid coatings.
by TheAccountant
Thu Jun 28, 2018 7:47 pm
Forum: Personal Consumer Issues
Topic: Am I wasting money on my old car?
Replies: 34
Views: 3562

Re: Am I wasting money on my old car?

First of all, 118k on a 96 Corolla isn't even broken in yet. Check this calculator out: https://www.atra.com/fixortrade As you can see, it rarely makes sense to buy a new car versus repairing the one you currently have. Assuming this car isn't rusted out, you'd be crazy to ditch it just because it ...
by TheAccountant
Thu Jun 28, 2018 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Loan to Max Out 401(k)
Replies: 28
Views: 1764

Re: Loan to Max Out 401(k)

Apologies for the potentially dumb question, but I live in a very high-tax jurisdiction (New York City), and while I do alright, I don't make enough to max out my 401(k) contribution ($18,500/yr) comfortably. To contribute the max would seriously put a damper on my lifestyle. So, I was considering ...
by TheAccountant
Sun Jun 24, 2018 2:01 pm
Forum: Personal Consumer Issues
Topic: Am I wasting money on my old car?
Replies: 34
Views: 3562

Re: Am I wasting money on my old car?

All prices in New Zealand dollars. ($1 US = NZ$1.45) I have a 1996 Toyota Corolla 118,000 miles. Get it serviced every 6 months as I know bugger all about cars and am prepared to have an expert check it out. It requires $1500 worth of work on it (including service, new cambelt and water pump). I ha...
by TheAccountant
Tue Feb 13, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Job is starting to suck the life out of me.
Replies: 80
Views: 10587

Re: Job is starting to suck the life out of me.

samsoes wrote:
Tue Feb 13, 2018 8:44 am
Any Megacorp job will eventually drain your soul. To have that happen at 31 is severe.

Leave. Don't burn bridges; keep smiling, but leave.
This.

Just remember, the grass isn't always greener on the other side!
by TheAccountant
Mon Feb 12, 2018 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on new home purchase
Replies: 15
Views: 1429

Re: Need advice on new home purchase

You can make an offer on the home you want contingent on your current home selling.
by TheAccountant
Mon Feb 12, 2018 6:01 pm
Forum: Personal Consumer Issues
Topic: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns
Replies: 41
Views: 4932

Re: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns

I've always wondered how they made money with that kind of warranty.

People would abuse it for sure. It wasn't uncommon for people to buy LL Bean gear at garage sales and then go to the store and exchange the goods for new ones. Glad to see they are making the switch.
by TheAccountant
Sun Feb 11, 2018 10:21 pm
Forum: Investing - Help with Personal Investments
Topic: Savings, Money Market or Short Term Treasuries for Emergency Fund
Replies: 4
Views: 747

Re: Savings, Money Market or Short Term Treasuries for Emergency Fund

For an emergency fund I'd stick with a FDIC-insured money market fund.
by TheAccountant
Tue Feb 06, 2018 5:40 pm
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 433
Views: 56303

Re: Flaunt Your High-Mileage Car

High mileage cars if taken care of can function good. I once own a 1998 Toyota Camry for 14 years with over 220K. Once they start overheating its time to get rid of it. I sold my Camry on Craigs list in 2012 for 2K I know people who drive vehicles until they hit 100k and then trade them in solely b...