Search found 1122 matches

by southerndoc
Sat Jul 25, 2020 5:29 am
Forum: Personal Investments
Topic: Georgia 529 Account for Part-Time MBA
Replies: 2
Views: 243

Re: Georgia 529 Account for Part-Time MBA

If you are married filing jointly, you can deduct up to $8,000 per year ($4,000 individually). Over three years, that's a decent amount of tax savings with any tax bracket. Even at 25% you're looking at a total savings of $6,000 over three years if you are married. I'm unsure what you are asking wit...
by southerndoc
Tue May 12, 2020 8:02 pm
Forum: Personal Investments
Topic: Is solo 401K ERISA protected in Connecticut?
Replies: 3
Views: 184

Re: Is solo 401K ERISA protected in Connecticut?

ERISA is federal, and no Solo 401(k) gets complete ERISA protection.
by southerndoc
Tue May 12, 2020 8:52 am
Forum: Personal Finance (Not Investing)
Topic: CARES ACT Early 401k Distribution
Replies: 10
Views: 803

Re: CARES ACT Early 401k Distribution

You should probably check with someone more knowledgeable than me, but that was my initial interpretation. The article linked below seems to suggest employers viewed the law as optional if they wanted to participate. I'm not sure if the law requires or makes CRD's optional to employer-sponsored plan...
by southerndoc
Tue May 12, 2020 8:48 am
Forum: Investing - Theory, News & General
Topic: Healthcare post COVID-19
Replies: 66
Views: 6453

Re: Healthcare post COVID-19

Sorry, this coming from an emergency physician/administrator. :)
by southerndoc
Tue May 12, 2020 8:33 am
Forum: Personal Finance (Not Investing)
Topic: CARES ACT Early 401k Distribution
Replies: 10
Views: 803

Re: CARES ACT Early 401k Distribution

I would pressure them to offer it based on loss of income as offered by law instead of trying to get a refund on the 10% penalty. However, it's my understanding of the situation that if they hold the 10% penalty, it will just be an extra tax that was paid to the IRS and would be refundable if your t...
by southerndoc
Tue May 12, 2020 8:23 am
Forum: Investing - Theory, News & General
Topic: Healthcare post COVID-19
Replies: 66
Views: 6453

Re: Healthcare post COVID-19

I don't think emergency medicine visits will rebound past 80% of previous volume for a few years. I think people have realized that not every stomach ache, back strain, etc. needs an ER visit and can either be handled at home, via telemedicine consult, or via urgent care. People will forget over tim...
by southerndoc
Fri May 08, 2020 8:39 pm
Forum: US Chapters
Topic: Metro Atlanta Bogleheads Local Chapter
Replies: 109
Views: 38731

Re: Metro Atlanta Bogleheads Local Chapter

Would love to meet up with other Atlanta Bogleheads, so May (or June) sounds good.
by southerndoc
Fri May 08, 2020 2:09 am
Forum: US Chapters
Topic: Metro Atlanta Bogleheads Local Chapter
Replies: 109
Views: 38731

Re: Metro Atlanta Bogleheads Local Chapter

We should bring it back to life.
by southerndoc
Fri May 08, 2020 1:51 am
Forum: Personal Consumer Issues
Topic: Will a vpn complicate or improve my internet experience?
Replies: 55
Views: 4120

Re: Will a vpn complicate or improve my internet experience?

Okay, network engineer here. I will dispel the VPN hype. You really don’t need one. The commercials for VPN are mostly unicorn farts. Here’s why: 1. A VPN does not stop malware and spyware from infecting your machine while connected. This is still the number one attack vector as well as the number ...
by southerndoc
Fri May 08, 2020 1:47 am
Forum: Personal Consumer Issues
Topic: Ridiculous HVAC Duct cleaning quote
Replies: 51
Views: 4819

Re: Ridiculous HVAC Duct cleaning quote

Geneyus wrote:
Thu May 07, 2020 8:09 pm
I was quoted $70,000 to clean the ducts in a 50k sq ft warehouse if that makes you feel any better. It's a hard no from me.
I totally misread your post and thought you said a 50k sq ft house instead of warehouse. Had a chuckle over it. I thought you were living in a very large mansion. :)
by southerndoc
Fri May 08, 2020 1:43 am
Forum: Personal Finance (Not Investing)
Topic: Keep debit card locked at all times?
Replies: 36
Views: 2802

Re: Keep debit card locked at all times?

FWIW, the person probably did not eat at a Newport Beach, California Chipotle. Their headquarters is located there. I'm in Georgia, and all of my Chipotle orders purchased through the app show up as Newport Beach, California, on my debit card.
by southerndoc
Sun May 03, 2020 4:42 pm
Forum: Personal Investments
Topic: Vanguard vs. Fidelity Individual 401(k)
Replies: 8
Views: 732

Re: Vanguard vs. Fidelity Individual 401(k)

One of the reasons I transferred mine from Fidelity to Vanguard is online contributions. I'm still surprised Fidelity doesn't offer this. It wasn't a show stopper until USPS lost a check for 45 days.
by southerndoc
Sun Apr 12, 2020 10:15 pm
Forum: Personal Consumer Issues
Topic: Best way to get Skype or Facetime on a TV?
Replies: 26
Views: 27002

Re: Best way to get Skype or Facetime on a TV?

Rick, does your smart TV have a built-in camera or can you use any USB camera?

Zoom Rooms is one way to do it, but probably a little costly.
by southerndoc
Sun Apr 12, 2020 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Information from CPA on all tax savings in CARES act etc
Replies: 4
Views: 1109

Re: Information from CPA on all tax savings in CARES act etc

Gill, Treasury later announced that the June 15 payment due date was also extended. See IRS Advisory 2020-23 from 04/09/2020.

rm, how do you get #5?
by southerndoc
Fri Apr 03, 2020 4:53 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9793

Re: Cares Act Payroll Protection Program

I'm currently going through a divorce, and I'm not currently living at the primary place of business (my home as a consultant). A little reluctant to apply at the moment because of that.
by southerndoc
Thu Apr 02, 2020 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America dropped me from the preferred rewards program!?
Replies: 19
Views: 2829

Re: Bank of America dropped me from the preferred rewards program!?

I was told by a BofA representative that you're good for 6 months or a year after you reach premium status (I can't remember which she said). For some reason I think it is a year.
by southerndoc
Mon Mar 30, 2020 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Forming LLC: Need New Solo 401k?
Replies: 5
Views: 358

Re: Forming LLC: Need New Solo 401k?

Spirit, if you hire your wife as an employee then you don't have to terminate the Solo 401(k) do you?
by southerndoc
Mon Mar 30, 2020 1:37 am
Forum: Personal Finance (Not Investing)
Topic: Forming LLC: Need New Solo 401k?
Replies: 5
Views: 358

Re: Forming LLC: Need New Solo 401k?

I also would like to know this. I *think* you can update information with your broker after securing a new EIN, but I would advise talking to a retirement specialist and your account... and then reporting back here for my benefit. ;)

Just kidding. Maybe Spirit Rider can weigh in on it.
by southerndoc
Sun Feb 09, 2020 5:59 pm
Forum: Personal Investments
Topic: Vanguard Security Issue?
Replies: 15
Views: 2619

Re: Vanguard Security Issue?

nix4me wrote:
Sun Feb 09, 2020 12:29 pm
Vanguard’s IT and security are a joke.
Vanguard has an IT department?
by southerndoc
Sun Feb 02, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: SECURE Act Changes Deadline to Establish Solo 401(k)
Replies: 2
Views: 343

SECURE Act Changes Deadline to Establish Solo 401(k)

While researching mega backdoor Roth Solo 401(k)'s, I came across something that I didn't realize was part of the SECURE Act that passed. Effective 1/1/20, individuals have until their tax deadline plus extensions to establish and contribute to Solo 401(k)'s. However, only employer contributions can...
by southerndoc
Sun Feb 02, 2020 4:30 pm
Forum: Personal Investments
Topic: Employee Fiduciary Solo 401(k) with MegaBackdoor Roth and TPA - Discussion
Replies: 39
Views: 1345

Re: Employee Fiduciary Solo 401(k) with MegaBackdoor Roth and TPA - Discussion

So the after tax contributions are reduced by the elective salary deferrals and employer contributions? Basically, as an independent contractor, I could contribute $19,500 as elective deferrals and $37,500 ($57,000-19,500) as after tax contributions as long as I don't make any employer contributions...
by southerndoc
Sun Feb 02, 2020 4:00 pm
Forum: Personal Investments
Topic: Employee Fiduciary Solo 401(k) with MegaBackdoor Roth and TPA - Discussion
Replies: 39
Views: 1345

Re: Employee Fiduciary Solo 401(k) with MegaBackdoor Roth and TPA - Discussion

I'm confused. What is the purpose of a megabackdoor Roth Solo 401(k) if you can only contribute employee contributions? I can make 100% of my employee contributions as a Roth Solo 401(k) contribution now with Vanguard.
by southerndoc
Sun Feb 02, 2020 3:45 pm
Forum: Personal Investments
Topic: Employee Fiduciary Solo 401(k) with MegaBackdoor Roth and TPA - Discussion
Replies: 39
Views: 1345

Re: Employee Fiduciary Solo 401(k) with MegaBackdoor Roth and TPA - Discussion

I've never really understood the Megabackdoor Roth Solo 410(k). So with the way you've set this up with Employee Fudiciary, you can contribute employee contributions up to $19,500 in either a traditional or Roth Solo 401(k). You can contribute your employer contributions (up to max of $57,000) as ei...
by southerndoc
Wed Jan 29, 2020 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Question RE: 529 Plans - Georgia
Replies: 10
Views: 1255

Re: Question RE: 529 Plans - Georgia

Just checked again... For 2020, contributions up to $8,000/year per beneficiary for MFJ ($4,000 for single filers). That's awesome! Since this is per beneficiary, can I set this up as a backdoor 529 in a way to pay down my student loans? I have a plan established for my daughter. Can I establish one...
by southerndoc
Wed Jan 29, 2020 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Question RE: 529 Plans - Georgia
Replies: 10
Views: 1255

Re: Question RE: 529 Plans - Georgia

You can deduct $4k/year if you're MFJ.

Keep in mind that Georgia will only allow you to deduct this if you participate in Georgia's 529 plan. Thankfully it's not that bad.
by southerndoc
Tue Jan 28, 2020 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Warning: Solo K and 5500 EZ
Replies: 64
Views: 4354

Re: Warning: Solo K and 5500 EZ

Anyone? :)
by southerndoc
Mon Jan 27, 2020 11:43 pm
Forum: Personal Consumer Issues
Topic: Brother printer still recommended for small business?
Replies: 38
Views: 2201

Re: Brother printer still recommended for small business?

We have a Brother MFC-L8900CDW that we use a LOT at home (I work from home for a consulting business). We've not had any problems with it. It's a great duplex color laser with scanning option. I have it set up so that it scans documents into PDF and places them on the desktop of my iMac (personal us...
by southerndoc
Sun Jan 26, 2020 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Ambulance Ride and Insurance (911 House Call)
Replies: 24
Views: 2704

Re: Ambulance Ride and Insurance (911 House Call)

$10k is cheap by most air ambulance standards. A large for-profit air ambulance company backed by a private equity group frequently charges a $30,000+ "lift fee" and then itemizes based on equipment used, transport nautical miles, etc. I've heard of $50-60,000 bills.
by southerndoc
Sun Jan 26, 2020 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Ambulance Ride and Insurance (911 House Call)
Replies: 24
Views: 2704

Re: Ambulance Ride and Insurance (911 House Call)

Thanks for all the replies, very helpful. It appears that the ambulance and EMT service is through the municipal fire department. Most fire-based EMS agencies bill insurance companies but do not balance bill. For the record, I'm a former paramedic now practicing emergency physician who is dual boar...
by southerndoc
Sun Jan 26, 2020 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Ambulance Ride and Insurance (911 House Call)
Replies: 24
Views: 2704

Re: Ambulance Ride and Insurance (911 House Call)

Check your water bill to see if you pay a monthly ambulance charge. I'm not sure how wide spread it is, but I've lived in a couple places where you pay a monthly fee and all emergency ambulance rides are free. I ran into that situation about 10 years ago and it saved me $1,200. That is very rare. M...
by southerndoc
Sun Jan 26, 2020 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Solo 401(k) at End of Employment - Rollover to Roth IRA?
Replies: 6
Views: 408

Re: Roth Solo 401(k) at End of Employment - Rollover to Roth IRA?

He was curious if he didn't have a Roth IRA opened (i.e., he opened one to transfer in the Roth Solo 401(k) funds when he terminated his Solo 401(k)).
by southerndoc
Sun Jan 26, 2020 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Ambulance Ride and Insurance (911 House Call)
Replies: 24
Views: 2704

Re: Ambulance Ride and Insurance (911 House Call)

Do you have a county-based third service EMS agency, a fire department based EMS, or a private EMS agency that contracts with the county as the 911 provider? If it's county or fire based, you may or may not even receive a bill. If it's a private ambulance company, then usually they will bill the ins...
by southerndoc
Sun Jan 26, 2020 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Solo 401(k) at End of Employment - Rollover to Roth IRA?
Replies: 6
Views: 408

Roth Solo 401(k) at End of Employment - Rollover to Roth IRA?

A coworker asked me a unique question the other day and I haven't seen a clear answer to it. I suggested he do what I've been doing (backdoor Roth IRA) to get around the limitation. When he stops practicing medicine and retires, I'm assuming he will most likely move his money from his Solo 401(k) to...
by southerndoc
Sun Jan 26, 2020 11:52 am
Forum: US Chapters
Topic: Sad news: LadyGeek's husband has passed
Replies: 352
Views: 27499

Re: Sad news: LadyGeek's husband has passed

I'm sorry for your loss LadyGeek. Can't imagine what you're going through right now. I may be a stranger to you other than a message board, but if you need a ear to listen please don't hesitate to PM me and I'll provide my cell number.
by southerndoc
Sun Jan 26, 2020 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Warning: Solo K and 5500 EZ
Replies: 64
Views: 4354

Re: Warning: Solo K and 5500 EZ

One final question...

If you establish a plan's own EIN, for line 2b you still list the employer's/sole proprietor's EIN and not the plan EIN, correct? As in, there is no section on the 5500-EZ to report the plan's own EIN.
by southerndoc
Sun Jan 26, 2020 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Roth solo 401(k) contribution deadline
Replies: 2
Views: 182

Re: Roth solo 401(k) contribution deadline

For a sole proprietor, your contribution deadline for both employee and employer contributions is your tax filing deadline (04/15) plus extensions (10/15).

You have until 10/15 if you file an automatic extension.
by southerndoc
Sat Jan 25, 2020 11:31 pm
Forum: Personal Finance (Not Investing)
Topic: Secure Act and 529 Use for Loan Repayments
Replies: 5
Views: 611

Re: Secure Act and 529 Use for Loan Repayments

Could I establish a 529 plan for myself, take my state deduction, and then pay some of my student loans? I'm above the income limit to deduct from taxes any interest on my student loan.
by southerndoc
Sat Jan 25, 2020 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Warning: Solo K and 5500 EZ
Replies: 64
Views: 4354

Re: Warning: Solo K and 5500 EZ

Spirit, if you amend a plan from Fidelity to Vanguard, one isn't required to file a 5500EZ correct?
by southerndoc
Fri Jan 24, 2020 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Warning: Solo K and 5500 EZ
Replies: 64
Views: 4354

Re: Warning: Solo K and 5500 EZ

On another note, what plan characteristic codes does one enter for a standard Vanguard Solo 401(k) with Roth option? Not sure how strict the IRS is with these.
by southerndoc
Fri Jan 24, 2020 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Warning: Solo K and 5500 EZ
Replies: 64
Views: 4354

Re: Warning: Solo K and 5500 EZ

The maximum penalty is a measly $150,000. ;)
by southerndoc
Fri Jan 24, 2020 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Warning: Solo K and 5500 EZ
Replies: 64
Views: 4354

Re: Warning: Solo K and 5500 EZ

Wow, 10 days late is a $2500 fine... that's insane!

It's simple to file. There really isn't a reason to not file one when needed. Keep in mind you have to file upon plan termination as well even if you have less than $250k.
by southerndoc
Thu Jan 16, 2020 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Ooma Phone Service - I Do NOT Recommend
Replies: 49
Views: 17401

Re: Ooma Phone Service - I Do NOT Recommend

In the past when I've dealt with companies making it difficult to cancel, I would simply send a letter certified mail advising them of the cancellation request and that any further charges are not allowed. Has worked the two times I've done it.
by southerndoc
Wed Jan 08, 2020 11:31 pm
Forum: US Chapters
Topic: Metro Atlanta Bogleheads Local Chapter
Replies: 109
Views: 38731

Re: Metro Atlanta Bogleheads Local Chapter

Also interested if anyone spearheads this.
by southerndoc
Wed Jan 01, 2020 5:37 pm
Forum: Personal Consumer Issues
Topic: Apple iMac 2013? Replace with Fusion? Or all SSD? Security? Questions
Replies: 38
Views: 2881

Re: Apple iMac 2013? Replace with Fusion? Or all SSD? Security? Questions

It all depends on what you use your computer for. If you are just using it as a storage device and email terminal then fine, I would keep it going as long as possible. However, if you are truly using the features of a computer and you are "all in" on the apple ecosystem I would replace it immediate...
by southerndoc
Wed Jan 01, 2020 5:33 pm
Forum: Personal Investments
Topic: Alternative to solo401k?
Replies: 14
Views: 947

Re: Alternative to solo401k?

When I followed the steps on the IRS website to get an EIN for my Solo 401(k), there was a message that it wasn't required for a sole proprietor. I tried looking it up just now and was going to post a pic of it, but the IRS EIN website is down until 1/2.
by southerndoc
Tue Dec 31, 2019 1:34 am
Forum: Personal Investments
Topic: Secure act - should I shift to taxable
Replies: 69
Views: 8074

Re: Secure act - should I shift to taxable

So after reading the changes coming with secure act, I have even more concerns now with retirement account tax bombs. I absolutely do not want to leave a multi-million dollar tax bomb to my daughter that she will have to liquidate in 10 years, that is insane. So I’m thinking I need to drop my 401k ...
by southerndoc
Fri Dec 27, 2019 12:29 am
Forum: Personal Investments
Topic: Question About Roth Solo 401k and When It Needs To Be Opened By
Replies: 4
Views: 276

Re: Question About Roth Solo 401k and When It Needs To Be Opened By

I think Spirit Rider is right. I don't see how you can make Roth contributions in 2019 when you did not have a Roth Solo 401(k) in existence. I think you can make traditional 2019 contributions in 2020 with a Vanguard plan, but not Roth contributions.

Definitely need expert advice to say the least.
by southerndoc
Thu Dec 19, 2019 10:19 am
Forum: Personal Consumer Issues
Topic: yet another reason not to get a smart phone
Replies: 192
Views: 16099

Re: yet another reason not to get a smart phone

It's not just smartphones. It's regular phones too. Even without GPS, phones are tracked by triangulation by phone companies. The article even mentions that phone companies sell that data. So if you don't want to be tracked, it's best to just leave your phone at home and drive a car without GPS (or ...
by southerndoc
Thu Dec 19, 2019 9:42 am
Forum: Personal Consumer Issues
Topic: yet another reason not to get a smart phone
Replies: 192
Views: 16099

Re: yet another reason not to get a smart phone

If someone wants to know how long I spend at a grocery store, Target, or the bathroom, more power to them. Luckily I don't care if they track me because I have nothing to hide. GPS on cars, what you order, how you spend on credit cards... it's all trackable. If you don't want to be tracked, you shou...