Search found 62 matches

by Tachyon
Sat Aug 25, 2018 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit plan at work, not in compliance?
Replies: 10
Views: 1248

Re: Defined Benefit plan at work, not in compliance?

What's the nature of the numbers issue you are finding? Well my statement says each year, my contribution is increased by 6.5%. The 1st year, I only got 5.4% even though my statement says 6.5%. The director explained it that since it was my 1st year, the actuaries use a cutoff at 10 months due to s...
by Tachyon
Sat Aug 25, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit plan at work, not in compliance?
Replies: 10
Views: 1248

Re: Defined Benefit plan at work, not in compliance?

Just follow through the chain of command - the person you are dealing with has a manager, you have a manager, etc. most likely benefits/HR would consider you PITA (which has longer term consequences) but they will review and explain the numbers so you can compare your understanding of it. also know...
by Tachyon
Fri Aug 24, 2018 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit plan at work, not in compliance?
Replies: 10
Views: 1248

Re: Defined Benefit plan at work, not in compliance?

Mlm wrote: ↑
Fri Aug 24, 2018 9:04 pm
The plan should be governed by ERISA https://www.dol.gov/agencies/ebsa/about ... a-consumer
Thank you! Found what I needed based on your link.
by Tachyon
Fri Aug 24, 2018 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit plan at work, not in compliance?
Replies: 10
Views: 1248

Re: Defined Benefit plan at work, not in compliance?

Are you sure that this is a Defined Benefit Plan ? I never heard of one where there were employee contributions. Other than that, you should ask for a Summary Plan Description that must be available to all employees upon request. This should tell you who the Plan Administrator is and their contact ...
by Tachyon
Fri Aug 24, 2018 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit plan at work, not in compliance?
Replies: 10
Views: 1248

Defined Benefit plan at work, not in compliance?

I have a Defined Benefit plan for the company I work for that I contribute to mainly to get the tax deductions. I understand DB plans are inherently complex. From the beginning, I was given misinformation about the plan. I don't think it was intentional, but I do think even the Benefits Director doe...
by Tachyon
Fri Jul 13, 2018 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Salary Negotiation for New Position
Replies: 25
Views: 2254

Re: Salary Negotiation for New Position

1. Knowing that she is going to take the job regardless, is she even in a position to negotiate? :confused 2. Is she out of line by requesting a salary commensurate with what she is making now with all of her supplemental pays? 3. Does salary negotiation normally take place in person? My DW was goi...
by Tachyon
Tue Jun 26, 2018 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: Second malpractice insurance necessary?
Replies: 27
Views: 2700

Re: Second malpractice insurance necessary?

In addition to simply the amount covered, you should investigate into how your carrier typically handle claims and what their general M.O. is. You also have to evaluate what your own M.O. is. For instance, if a completely baseless claim where you were not negligent in any way but the patient has a v...
by Tachyon
Sun Jun 24, 2018 5:54 am
Forum: Personal Finance (Not Investing)
Topic: Gifting in a community property state
Replies: 7
Views: 688

Re: Gifting in a community property state

It's $15K per person per year by an individual. Can give $30K to a person per year if combined with spouse. To my knowledge, being in a community vs common law state doesn't change the situation.
by Tachyon
Mon May 21, 2018 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Disputed HOA billing
Replies: 21
Views: 2052

Re: Disputed HOA billing

I recall the first thing to do when disputing the HOA is to pay the bill. Then fight the process.
It's because fees can accrue, and they often have the power to start a foreclosure process on your home.
by Tachyon
Mon May 21, 2018 6:13 am
Forum: Personal Finance (Not Investing)
Topic: Lender Funded Without Authorization
Replies: 5
Views: 835

Re: Lender Funded Without Authorization

Can you clarify how exactly how this harmed or damaged your situation? I'm not seeing any damages. They funded, then "oops", retracted the funding the next day. Seemed like you could have gone on negotiating and/or potentially walking away from the deal.
by Tachyon
Sat May 19, 2018 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401K: Fidelity Non-Prototype Retirement account
Replies: 2
Views: 394

Re: Solo 401K: Fidelity Non-Prototype Retirement account

I'm actually in the process of doing the same thing. I'm also wading through the information. This is what I know: - If you are an Scorp owner-employee, and no other employees, and you're looking only for a "pretax" 401k, you only need one account and only one login. You don't need a separate "emplo...
by Tachyon
Sat May 19, 2018 12:39 am
Forum: Personal Finance (Not Investing)
Topic: Surgeon salary vs owning a business salary/profit?
Replies: 47
Views: 4542

Re: Surgeon salary vs owning a business salary/profit?

Y'all are being a bit harsh. I'm giving OP the benefit of the doubt. Since he says he loves both tracks, but now trying to make a decision. Where financial issues are part of that consideration. OP just has to make sure that he can finish. Tremendous amount of time/effort to put into the medicine tr...
by Tachyon
Mon Apr 30, 2018 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: Favors for Family/Friends and Getting Compensated or Not?
Replies: 39
Views: 3602

Re: Favors for Family/Friends and Getting Compensated or Not?

You're dealing with family. And anytime you are, it's a bit more complicated. Your family has been accustomed to a certain way of things, namely you helping out. Any change in that will cause some friction. At the same time, you shouldn't continued to be utilized. Every family dynamic is different, ...
by Tachyon
Mon Apr 30, 2018 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: How would you handle a request for money from a niece?
Replies: 89
Views: 7462

Re: How would you handle a request for money from a niece?

2 concepts: Give an inch and they'll take a mile. Teach a man to fish and they'll eat for a lifetime. If she's open to Dave Ramsey's course or some sort of financial education, give her $100 for that. It'll improve family dynamics. But if she's looking for a handout of $100, hard stop and tough love...
by Tachyon
Fri Apr 13, 2018 1:12 am
Forum: Personal Finance (Not Investing)
Topic: Benefits of using CPA for taxes
Replies: 31
Views: 4174

Re: Benefits of using CPA for taxes

Sounds like you don't have an accountant. You have a glorified data entriest.
$800 sounds somewhat steep for a data entriest. It sounds somewhat cheap for a true tax-planning consultancy.
by Tachyon
Thu Apr 12, 2018 1:40 am
Forum: Personal Finance (Not Investing)
Topic: K-1 form and TurboTax questions
Replies: 2
Views: 366

Re: K-1 form and TurboTax questions

Unless it's automatically deductible, TT won't take care of it for you. For instance, if Box 13 if a charitable contribution, it'll automatically put it on your Sch A. However, whether or not health insurance premium is deductible depends on whether you qualify for the deduction. If you do, you'll h...
by Tachyon
Thu Apr 12, 2018 1:32 am
Forum: Personal Finance (Not Investing)
Topic: Get to Know Me screen at the beginning of TurboTax? Traditional/Roth IRA contribution button?
Replies: 2
Views: 270

Re: Get to Know Me screen at the beginning of TurboTax? Traditional/Roth IRA contribution button?

403B is not an IRA so it sounds like you shouldn't click it. However, I would say go ahead and click it and click anything you're unsure about. Turbotax should then guide you through that. For instance, if you click the IRA, later on, it should ask you like "did you contribute to IRA for 2017" or so...
by Tachyon
Thu Apr 12, 2018 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Real estate in trust with no beneficiary designation
Replies: 2
Views: 302

Re: Real estate in trust with no beneficiary designation

I don't think this makes any sense. In general, the trust has a beneficiary, not the real estate. Now if you're saying a real estate was specifically designated in a trust to goto a specific beneficiary, and the other real estate has no designation and there is no default beneficiary, then I would s...
by Tachyon
Fri Apr 06, 2018 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Closing on house...Signed before educating myself :(
Replies: 8
Views: 1544

Re: Closing on house...Signed before educationing myself :(

You don't really provide enough info, but it sounds like you're approaching your deadline to waive the loan contingency. I'm just changing the perspective. What you're hoping for, it sounds like, is to somehow get everything squared away so the lender with the lower rate will lend on the house. Howe...
by Tachyon
Thu Apr 05, 2018 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: LLC: how much attorney involvement?
Replies: 7
Views: 693

Re: LLC: how much attorney involvement?

The template forms in Nolo were written by an attorney. If you goto your attorney, they'll use template forms as well. Don't read too much into it. If you really want to pay a few hundred bucks each time, go for it. But I don't see the big deal of doing them yourselves However, I would say know your...
by Tachyon
Wed Apr 04, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in syndicated real estate deals
Replies: 11
Views: 1185

Re: Investing in syndicated real estate deals

I invest in these syndicated real estate deals, roughly 20%. I'm a fan of them, but I will also say you need to know what you are doing. Now what I see a lot is what I think investors are doing wrong: chasing returns. Those people will get burned sooner or later. I also know most investors don't bot...
by Tachyon
Mon Apr 02, 2018 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: medical practice reimbursement issues
Replies: 35
Views: 2889

Re: medical practice reimbursement issues

Can you explain what future partnership has to do with payment as an associate? I'm confused. Just that if a small practice is hiring someone as a future partner in 2 years (no buy-in; sweat equity), they may want to see someone comfortable with the concept of being paid based on collections, not b...
by Tachyon
Mon Apr 02, 2018 10:55 pm
Forum: Personal Finance (Not Investing)
Topic: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida
Replies: 11
Views: 1073

Re: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida

Your thought process makes sense to me. A doctor's malpractice does not extend to other doctors or other owners of the same business entity, why would it be in our case? Not sure I understand this. Around here, when a suit is brought due to an alleged physician error, there are usually multiple ent...
by Tachyon
Mon Apr 02, 2018 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida
Replies: 11
Views: 1073

Re: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida

My concern was that if the LLC was sued anyway, and both of us being owners and spouses, if that'd pierce the asset protection of tenants by entirety (TBE) and the claimant might have access to our personal assets that we hold as TBE. I don't think so. But first, your LLC will probably be named reg...
by Tachyon
Mon Apr 02, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida
Replies: 11
Views: 1073

Re: Freelancing Physician Spouses, Will Sharing One LLC Risk Asset Protection? Florida

Get the standard cliche answers/disclaimers out of the way first: I'm not a lawyer, you should ask a lawyer, only a lawyer can properly advise you Medical malpractice affects the individual physician. And so just as a corporation doesn't shield a physician from med mal, nor should a corp be liable f...
by Tachyon
Mon Apr 02, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: medical practice reimbursement issues
Replies: 35
Views: 2889

Re: medical practice reimbursement issues

To everyone saying an employed physician should only sign contracts where income is based on billed RVUs: Most small practices will be unwilling to do that if the physician is on a partnership track. It sounds like you are saying ,"I want to be a partner in the business but pay me regardless of wha...
by Tachyon
Mon Apr 02, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: medical practice reimbursement issues
Replies: 35
Views: 2889

Re: medical practice reimbursement issues

I'm going to venture out and guess that your friend is a new grad and this is his first job. Agree with most of the others, drop his current job and move on. There's not enough information provided on what his contract provides. But really even if the contract provides, is your friend going to try a...
by Tachyon
Mon Mar 26, 2018 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: 401k/SEP Control Group?
Replies: 3
Views: 289

Re: 401k/SEP Control Group?

A Solo 401k, even though you're self-employed, is still split up into the Elective contribution and Profit Sharing portions. Elective contribution maxes at 18.5K and 36.5K for Profit Sharing in 2018. I believe your total elective contribution portion for your various businesses is 18.5K as if you we...
by Tachyon
Fri Mar 23, 2018 1:17 am
Forum: Personal Finance (Not Investing)
Topic: Politics of Internal Promotion & Interviewing at Other Companies
Replies: 13
Views: 1221

Re: Politics of Internal Promotion & Interviewing at Other Companies

In general, I agree with the others that since you are bluffing, best not try to counter. Especially since the job isn't yours yet and other people might be vying for the same opportunity. They can easily turn to another applicant and offer the same job.
by Tachyon
Wed Mar 21, 2018 1:43 am
Forum: Personal Finance (Not Investing)
Topic: Index investing vs Real Estate/P2P/websites, etc.. How much is time worth?
Replies: 8
Views: 818

Re: Index investing vs Real Estate/P2P/websites, etc.. How much is time worth?

When you enjoy what you do, then it's really not work at all. I enjoy analyzing private equity type investments. It takes hours upon hours to do so. And most of the time, those hours are "wasted" because I decided not to invest. However, it's somewhat of a hobby of mine. Hence, I don't mind spending...
by Tachyon
Wed Mar 21, 2018 1:21 am
Forum: Personal Finance (Not Investing)
Topic: CPA fees for S-corp?
Replies: 12
Views: 1340

Re: CPA fees for S-corp?

I am paying 1000 for the S Corp Return. I also pay 100 a quarter for the 941, and State Unemployment and Federal Unemployment Returns. The fee is around 250 for the w-2s and other annual employee returns. I also pay TurboTax around 100 bucks for the version that will do the corporate return, to hel...
by Tachyon
Sat Mar 03, 2018 1:12 am
Forum: Personal Finance (Not Investing)
Topic: New guy with a "scheme"... [transfer earned income to kids]
Replies: 35
Views: 4422

Re: New guy with a "scheme"...

So your sole prop doesn't make a profit. You're not expecting to "deduct" what you pay your SO, but in a legitimate business expense, you should. I don't understand how your sole prop "on paper" should make money. Either it does or it doesn't. Your SO "sole prop" to manager her kids as models is exp...
by Tachyon
Tue Feb 27, 2018 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Tax deductions for a work-from home 1099 job -
Replies: 7
Views: 752

Re: Tax deductions for a work-from home 1099 job -

1. I plan on taking a home-office deduction as the work is primarily from home 2. If I 'go to work using my laptop' and work while I am at Starbucks/Panera Bread - - -Is that meal deductible? 3. If I go to a restaurant with another physician and discuss a clinical topic - is that meal deductible? T...
by Tachyon
Mon Feb 26, 2018 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Question regarding revised home appraisal
Replies: 7
Views: 353

Re: Question regarding revised home appraisal

This house is worth $294K. What a seller and a buyer have both agreed to. That's it, don't think anything more than that. Appraisals are nothing more the some individual opinion who is NOT shelling out the money to buy something. Unfortunately, in the RE industry, many lenders require it and often d...
by Tachyon
Tue Jan 30, 2018 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: How to Minimize Your Emergency Care Expenses
Replies: 272
Views: 52599

Re: How to Minimize Your Emergency Care Expenses

White Coat Investor, do you think there are emergency physicians - not you specifically - under pressure from the hospital to run more tests in order to bill the insurance company? A physician relative in another specialty felt pressured to run extra tests to bill insurance even though it was at a ...
by Tachyon
Sun Jan 28, 2018 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to get a business credit card?
Replies: 25
Views: 1788

Re: Does it make sense to get a business credit card?

I'm not a lawyer. But I think there's a lot of misinformation here. IRS doesn't care what kind of credit card you use. Just so long as your expenses are trackable when it comes to an audit. Now does using a separate card help with tracking of expenses, absolutely. But is it needed, no. Corporate vei...
by Tachyon
Sun Jan 28, 2018 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to get a business credit card?
Replies: 25
Views: 1788

Re: Does it make sense to get a business credit card?

A business card also earns the company a "credit" history which could be helpful if the business needs a loan someday. All the "business" cards that have been talked about, Chase Ink, for instance, aren't true business cards. They use your personal SS #, and goes on your personal credit report. Thi...
by Tachyon
Sat Jan 27, 2018 2:08 am
Forum: Personal Finance (Not Investing)
Topic: Take loan off net worth?
Replies: 17
Views: 1323

Re: Take loan off net worth?

Net worth is your personal scorecard. So you can do whatever you feel is best. I personally would leave the bike off as an asset, since I don't consider cars, bikes, or other depreciating items as "assets". I put the loan balance as a liability. I put it as a liability because my net worth just decr...
by Tachyon
Thu Jan 25, 2018 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Accountant Recommends doing Whole Life Insurance
Replies: 64
Views: 5908

Re: Accountant Recommends doing Whole Life Insurance

There are customized contracts that no BH has seen or heard of before. Just because a corner store multi line agent has visited with you at home and shown an off the shelve product that does not appeal to you because it was represented to perform a task that it was never optimized to do is no reaso...
by Tachyon
Thu Jan 25, 2018 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: How to Minimize Your Emergency Care Expenses
Replies: 272
Views: 52599

Re: How to Minimize Your Emergency Care Expenses

Great post WCI. As a fellow emergency physician, I thought I'd weigh in here. Most practicing ER docs can tell what will likely be your outcome of your ER visit with a few minutes of interview/exam. 95% of the time, I know exactly what will happen to the patient and my expected test results based on...
by Tachyon
Thu Jan 25, 2018 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Open a LLC
Replies: 10
Views: 1356

Re: Should I Open a LLC

IANAL but when I talked to my attorney about LLCs he said very clearly that an LLC doesn't shield the personal assets of the LLC owner from his or her own acts. If you hire a model and your employee (the model) injures someone, the LLC might do something to protect your assets. Sounds to me like yo...
by Tachyon
Tue Jan 23, 2018 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Open a LLC
Replies: 10
Views: 1356

Re: Should I Open a LLC

Agree. If this is a hobby, I'm pretty sure your homeowner's insurance would cover your liability. Art seems like a pretty low risk activity to me.
by Tachyon
Tue Jan 23, 2018 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for Wife (PA) Possible Side Gig - Botox Administration
Replies: 2
Views: 450

Re: Advice for Wife (PA) Possible Side Gig - Botox Administration

While every state is different, are you saying in your state, a PA is able to open a business injecting botox WITHOUT a supervising physician? Or are you saying your wife would work in a physician's office injecting botox?
by Tachyon
Tue Jan 23, 2018 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Open a LLC
Replies: 10
Views: 1356

Re: Should I Open a LLC

You literally just asked, what's an LLC, what does it do, and how can I benefit? Maybe you should just start searching online or read a book?
by Tachyon
Wed Jan 17, 2018 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Irrevocable trust for primary residence
Replies: 12
Views: 1197

Re: Irrevocable trust for primary residence

IANAL I think this would be counterproductive or more headaches than it's worth. Umbrella does not cover medical malpractice or other professional liability. If you want to specifically protect the house, providing you own the house free and clear, just take out a HELOC against the house aka "stripp...
by Tachyon
Tue Jan 09, 2018 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Any downside to paying with HSA?
Replies: 21
Views: 1983

Re: Any downside to paying with HSA?

Yes. You are losing tax free growth, and likely tax free withdrawal of funds within the HSA. If you have enough funds to max contribute to HSA as well as pay out of pocket for health expenses, that's what you should do. If you don't have enough money, then yes do what you are planning.
by Tachyon
Tue Jan 09, 2018 8:31 pm
Forum: Investing - Theory, News & General
Topic: Non Public-traded REIT nightmare continues
Replies: 18
Views: 3181

Re: Non Public-traded REIT nightmare continues

There's nothing wrong with non publicly traded REITs. There is something very wrong with not doing the due diligence yourself and just listening point black to an "advisor" who makes a fat commission if you invest. Evaluating non publicly traded REITs is just like evaluating of private companies. Th...
by Tachyon
Mon Jan 08, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Cost Segregation Study Worth the Expense? Real estate
Replies: 4
Views: 451

Re: Cost Segregation Study Worth the Expense? Real estate

2 advantages:
1) What OP already mentioned, if marginal tax drops in the future
2) Time value of money, get more money now rather than later.
by Tachyon
Sun Jan 07, 2018 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Stand Alone Umbrella Insurance
Replies: 43
Views: 4455

Re: Stand Alone Umbrella Insurance

I had GEICO auto and umbrella, and the umbrella rates also went up with a new vehicle. I had a $1M umbrella. Their rate for $60 per vehicle for me. From my standpoint, I didn't drive more total which makes my risk the same. But that's how they priced their umbrella. I suspect once I get rid of one v...
by Tachyon
Sat Dec 30, 2017 1:15 am
Forum: Personal Finance (Not Investing)
Topic: Disability Insurance Riders/Waivers
Replies: 11
Views: 751

Re: Disability Insurance Riders/Waivers

I think there's a law or something that you can't get more than 60% coverage. I just recall based on my own disability insurance shopping like 5 years ago.