Search found 17 matches

by dirtlaw
Mon Apr 01, 2019 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed: How to get invalid lien removed from public record
Replies: 18
Views: 964

Re: Advice needed: How to get invalid lien removed from public record

What state is your property in? Florida I really doubt you would be able to get an expunction order from a judge to remove something like this in Florida; that's usually reserved for removing criminal or mental health records and divorce or custody type matters. If you really think you have suffere...
by dirtlaw
Wed Nov 07, 2018 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle 401k or taxable?
Replies: 27
Views: 1808

Re: Side Hustle 401k or taxable?

profet wrote:
Thu Nov 01, 2018 10:02 am
Getting a lot of responses on what to do with employee contributions... And I appreciate it, but not really the topic I'm after.
Make the employer contribution and avoid FICA and income tax
by dirtlaw
Mon Nov 05, 2018 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 6270

Re: Deal fell through and didn't get escrow money.....

The language in the contract controls what should happen to the escrow funds.
by dirtlaw
Sun Nov 04, 2018 10:55 pm
Forum: Personal Investments
Topic: Simple IRA/SEP IRA/Solo 401k
Replies: 6
Views: 607

Re: Simple IRA/SEP IRA/Solo 401k

Yes you should be able to set up and start contributing to a solo 401k at Vanguard next year. With your income, you should be able to contribute more to a solo 401k than a SEP IRA. With the solo 401k, you can contribute your entire self employment income up to $19,000 as an "employee contribution". ...
by dirtlaw
Sun Oct 28, 2018 6:20 pm
Forum: Personal Investments
Topic: Thinking of Retiring at 52, Please Critique Plan
Replies: 61
Views: 10074

Re: Thinking of Retiring at 52, Please Critique Plan

OP, SEPP is the wrong answer for you. Roth conversion is a better answer for you. Please check the following URL for all the available options. https://www.madfientist.com/how-to-access-retirement-funds-early/ KlangFool I second KlangFool's sentiments - look into starting yearly Roth conversions if...
by dirtlaw
Fri Aug 03, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Is solar power for your home a worthwhile investment?
Replies: 145
Views: 14849

Re: Is solar power for your home a worthwhile investment?

Electrical prices would have to almost triple where I live in Florida to justify it from the last calculation I did, especially because my utility doesn't buy back excess power. If prices went up and they started paying for excess power, I'd seriously consider it. One good thing in Florida is that t...
by dirtlaw
Fri Jul 27, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Yet another "can I afford it"?
Replies: 42
Views: 4460

Re: Yet another "can I afford it"?

delamer wrote:
Thu Jul 26, 2018 4:26 pm
Seems that a great compromise with your wife would be to buy a used, 2 or 3 year old version of one of your preferred vehicles.
This is what I would do.
by dirtlaw
Sat Jul 14, 2018 1:48 pm
Forum: Personal Investments
Topic: What to do with extra $2500 a month?????
Replies: 36
Views: 3561

Re: What to do with extra $2500 a month?????

I would try to max 403b contributions, pay off the boat, see if you can contribute to a 457, and if your HSA money can be invested, max it out and pay medical expenses in cash. Kids can go to an state school if they want to avoid student loans.
by dirtlaw
Fri Jul 13, 2018 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes - Sep IRA, Solo 401 K, TSP
Replies: 15
Views: 893

Re: Taxes - Sep IRA, Solo 401 K, TSP

Total 401k contributions: $165,000 ($15,000 employee contribution, $150,000 employer contribution) which may reduce your current income tax bill by around $40,700. Of course you'd need to consult a tax professional to confirm multiple solo 401ks are legal with independent contribution limits and co...
by dirtlaw
Fri Jul 13, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes - Sep IRA, Solo 401 K, TSP
Replies: 15
Views: 893

Re: Taxes - Sep IRA, Solo 401 K, TSP

CAGR, If I were you, and your $750,000 1099 income is from more than one source or is somewhat flexible, I'd consider having three single member LLCs each with a solo 401k, and max each out using employer contributions and roll them over to an IRA and do roth conversions at your leisure. Ex: LLC 1 G...
by dirtlaw
Fri Jul 13, 2018 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Logging out 20 acre lot?
Replies: 37
Views: 2837

Re: Logging out 20 acre lot?

Twofeds, I once had that same idea and got cash from a logging company who came and cut timber (mostly pine) on a commercial property and then, when starting construction, had to pay a sitework contractor more money than I earned to dig up the stumps. The sitework contractor told me it would have be...
by dirtlaw
Thu Mar 01, 2018 5:13 pm
Forum: Investing - Theory, News & General
Topic: Investors Wanted. No Experience Necessary
Replies: 20
Views: 3091

Re: Investors Wanted. No Experience Necessary

Investing in equities is not the same as betting on a horse race because betting is a zero sum game where there are winners and losers. Companies and the economy as a whole grow over time and produce value, goods, and services that didn't exist previously. If you were to bet on every horse in a race...
by dirtlaw
Wed Feb 28, 2018 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: How much cash do you keep at any time on checking?
Replies: 183
Views: 20129

Re: How much cash do you keep at any time on checking?

I average $3,000 in checking and $1,500 in a linked savings account
by dirtlaw
Sun Jan 14, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: Any negatives to children going on a parents deed via a lady bird deed?
Replies: 8
Views: 1387

Re: Any negatives to children going on a parents deed via a lady bird deed?

There's not really a down side I can think of in the situation you describe if they don't have a mortgage and don't plan to refinance or get a reverse mortgate. And as long as it's not a violation of the condo association rules. It could save some time and money in gaining access to and selling the ...
by dirtlaw
Sun Jan 14, 2018 8:19 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1294
Views: 175375

Re: Post your Financial Milestone Announcements Here

Student loans paid off as of 1/10/18! Next, the HELOC.
by dirtlaw
Sat Jan 13, 2018 7:13 pm
Forum: Personal Investments
Topic: Work status changing in a month? Will no longer have individual 401k option...question.
Replies: 3
Views: 382

Re: Work status changing in a month? Will no longer have individual 401k option...question.

I had this situation a few years ago. I stayed as an independent contractor until I had at least $18k in 1099 income so I could max my solo 401k for the year. Then the following year once I was eligible for my employer's 401k I deferred a high percentage of my paycheck and was able to max out that y...