Search found 22 matches

by BloogleBird
Tue Jun 26, 2018 6:38 pm
Forum: Investing - Help with Personal Investments
Topic: Multiple mega-backdoor Roth 401k -> IRA conversions
Replies: 18
Views: 1106

Re: Multiple mega-backdoor Roth 401k -> IRA conversions

Mmm, I haven't traveled too far down that road yet so I don't know those answers. I'll update here when I do. Good questions.
by BloogleBird
Tue Jun 26, 2018 11:47 am
Forum: Investing - Help with Personal Investments
Topic: Multiple mega-backdoor Roth 401k -> IRA conversions
Replies: 18
Views: 1106

Re: Multiple mega-backdoor Roth 401k -> IRA conversions

Mega back door capable Solo 401ks are possible but uncommon and somewhat tricky. Have you already found a provider for this? Do you plan to have a 3rd party administer it or do you know enough to do this yourself (again uncommon). I will choose between two of the awkwardly-named services commonly r...
by BloogleBird
Tue Jun 26, 2018 11:40 am
Forum: Investing - Help with Personal Investments
Topic: Multiple mega-backdoor Roth 401k -> IRA conversions
Replies: 18
Views: 1106

Re: Multiple mega-backdoor Roth 401k -> IRA conversions

It is better to use proper IRS terminology when describing 401k contributions. Otherwise it can be confusing. There are three employee contribution types. Two types of employee elective contributions (traditional deferrals and designated Roth contributions). The third type is employee after-tax con...
by BloogleBird
Tue Jun 26, 2018 2:09 am
Forum: Investing - Help with Personal Investments
Topic: Multiple mega-backdoor Roth 401k -> IRA conversions
Replies: 18
Views: 1106

Re: Multiple mega-backdoor Roth 401k -> IRA conversions

Thanks for taking a look. Glad there were no red flags.
luminous wrote:
Tue Jun 26, 2018 2:00 am
However, that is a lot of Roth and post-tax contributions and no tax deductible contributions.
Yes, it's pretty lopsided! But my spouse's is skewed in the other direction.
by BloogleBird
Tue Jun 26, 2018 1:51 am
Forum: Investing - Help with Personal Investments
Topic: Multiple mega-backdoor Roth 401k -> IRA conversions
Replies: 18
Views: 1106

Re: Multiple mega-backdoor Roth 401k -> IRA conversions

celia wrote:
Tue Jun 26, 2018 1:45 am
What exactly do you mean by "1099 income"?
Income earned as an independent contractor for which I will receive a 1099-MISC from a client. Would be nice to have on a 1099-DIV, though :)
by BloogleBird
Tue Jun 26, 2018 1:15 am
Forum: Investing - Help with Personal Investments
Topic: Multiple mega-backdoor Roth 401k -> IRA conversions
Replies: 18
Views: 1106

Re: Multiple mega-backdoor Roth 401k -> IRA conversions

Thank you, clarifications below. You have a new job where the employer has a 401K that accepts Roth contributions. It also accepts post-tax contributions. And it also accepts pre-tax contributions. Exactly right. You want to max out the Roth, then post-tax and roll them both into a Roth IRA. Right -...
by BloogleBird
Tue Jun 26, 2018 12:25 am
Forum: Investing - Help with Personal Investments
Topic: Multiple mega-backdoor Roth 401k -> IRA conversions
Replies: 18
Views: 1106

Multiple mega-backdoor Roth 401k -> IRA conversions

I'd love to get some advice on whether this scenario seems workable. My goal is to maximize my tax-advantaged 401k contributions, as early as possible, as much in Roth as possible. Thanks! Employer Employer 401k is mega-backdoor Roth capable (allows non-Roth post-tax contributions and in-service wit...
by BloogleBird
Tue Apr 10, 2018 1:19 am
Forum: Personal Finance (Not Investing)
Topic: 0% credit card to pay off student loan?
Replies: 25
Views: 1993

Re: 0% credit card to pay off student loan?

I'd be tempted. It looks like you could save $2k or so over the next year and a half (minus whatever portion of that interest is tax-deductible). However, the big risk is that if you can't pay it off and can't shift the debt again, you'd be stuck with a high-interest balance. And the student loan wo...
by BloogleBird
Mon Apr 09, 2018 2:24 pm
Forum: Investing - Help with Personal Investments
Topic: Taxable or backdoor Roth?
Replies: 20
Views: 1064

Re: Taxable or backdoor Roth?

One possibility that wouldn't involve opening any new accounts or doing any rollovers would be to change your 401k contributions to Roth instead of pre-tax (if that's what you are doing now). Your marginal rate is 24%, so the net effect of making $18.5k in contributions as Roth instead of pre-tax mi...
by BloogleBird
Sat Apr 07, 2018 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Partial-year ownership of S Corporation - what % ownership for K-1?
Replies: 2
Views: 241

Re: Partial-year ownership of S Corporation - what % ownership for K-1?

Thanks quantAndHold. Interestingly, the K-1 I'm looking at (both federal and CA) only have one slot for % of ownership, "for tax year", nothing about year beginning and end.
by BloogleBird
Sat Apr 07, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Partial-year ownership of S Corporation - what % ownership for K-1?
Replies: 2
Views: 241

Partial-year ownership of S Corporation - what % ownership for K-1?

If an individual is a partner / owner in an S corporation for part of the year, how does that partial year ownership translate into the schedule K-1 ownership percentage? Schedule K-1 (Form 1120S), in Part II Box F is labeled "Shareholder's percentage of stock ownership for tax year:" What would you...
by BloogleBird
Fri Mar 30, 2018 11:15 am
Forum: Investing - Help with Personal Investments
Topic: Max 401(k) before ROTH IRA?
Replies: 12
Views: 1277

Re: Max 401(k) before ROTH IRA?

You have a lot more flexibility with the funds in your Roth IRA than you do with your pre-tax 401k funds. Why not max out your 401k contributions but also make the full Roth IRA contribution (for 2017 if you haven't yet, and 2018)? Since you have adequate savings to fund those contributions, you cou...
by BloogleBird
Wed Mar 28, 2018 1:08 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k options when employment may loom
Replies: 8
Views: 672

Re: Solo 401k options when employment may loom

Thank you so much. That was so clearly conveyed, and you brought up two important considerations that I had failed to apprehend and appreciate: the difference between the deadline for adopting the plan and elections and the deadline for making the actual contributions, and the effect of employer con...
by BloogleBird
Tue Mar 27, 2018 11:33 pm
Forum: Investing - Help with Personal Investments
Topic: Maxed 401(k) contribution and get match from the next employer
Replies: 7
Views: 1015

Re: Maxed 401(k) contribution and get match from the next employer

Previous discussion of the same: https://www.bogleheads.org/forum/viewtopic.php?t=168681 And here: https://money.stackexchange.com/questions/13886/could-excess-401k-contributions-be-used-to-game-maximize-matches-from-differen Not much clarity on the issue, moral or practical! Reading both plan docum...
by BloogleBird
Tue Mar 27, 2018 4:16 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k options when employment may loom
Replies: 8
Views: 672

Re: Solo 401k options when employment may loom

From what I've been able to gather, you need some special plan documents that allow the proper in-service rollovers and after-tax contributions, and you need to file a 1099-R on the distribution for the rollover to the Roth IRA. MySolo401k and DiscountSolo401k are the providers that come up to handl...
by BloogleBird
Tue Mar 27, 2018 2:14 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k options when employment may loom
Replies: 8
Views: 672

Re: Solo 401k options when employment may loom

Thanks JBTX. I think you're right, I should probably sit on my hands for a while and wait to see how things shake out. The fees are actually quite different. A place like Vanguard, e.g., might charge no setup fee and a minimal yearly fee depending on your investments (or no fee if you have a certain...
by BloogleBird
Tue Mar 27, 2018 12:38 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k options when employment may loom
Replies: 8
Views: 672

Solo 401k options when employment may loom

I'd appreciate some help considering my options for retirement contributions given this situation: - Currently only have 1099 income, around $20k in the first quarter. Estimating $100k - $200k total 1099 earnings for 2018 if I continue consulting exclusively throughout 2018. Married, two kids, spous...
by BloogleBird
Sat Mar 24, 2018 7:14 pm
Forum: Personal Consumer Issues
Topic: Do you subscribe to digital newspapers?
Replies: 95
Views: 7489

Re: Do you subscribe to digital newspapers?

The Spotify Premium + New York Times Digital bundle is worthwhile if you were going to get both anyway: https://www.forbes.com/sites/cheriehu/2 ... artnership
by BloogleBird
Mon Mar 19, 2018 4:57 pm
Forum: Personal Consumer Issues
Topic: Least Expensive Way to Comprehensively Learn Law
Replies: 22
Views: 1844

Re: Least Expensive Way to Comprehensively Learn Law

Several states allow for law apprenticeship programs:

http://www.lawschoolbible.com/chapter-7 ... p-programs

You may even be able to take the bar exam and become a legally practicing attorney if you pass.
by BloogleBird
Fri Mar 16, 2018 12:55 pm
Forum: Personal Consumer Issues
Topic: Which Day Hiking Trails Do You Recommend?
Replies: 44
Views: 3896

Re: Which Day Hiking Trails Do You Recommend?

The Azores archipelago has an excellent network of well-signed trails across all the islands: http://trails.visitazores.com/en/trails-azores/faial The scenery is absolutely stunning, it's about a 4-hour flight from Boston, and it has a pleasant, subtropical climate (though much more on the Mediterra...
by BloogleBird
Wed Feb 28, 2018 4:47 am
Forum: Personal Consumer Issues
Topic: Amazon Prime Visa now 5% back at Whole Foods
Replies: 30
Views: 3195

Re: Amazon Prime Visa now 5% back at Whole Foods

If you routinely purchase items at Whole Foods that are shelf stable or frozen, keep in mind they offer a 10% discount on case quantities (usually 12, but varies by item). If you inquire and they have a case on hand, they will sell it to you, but I find it more convenient to order a number of differ...