Search found 137 matches

by Clarice
Mon Oct 14, 2019 4:02 pm
Forum: Personal Investments
Topic: Best Option to Sell Long Held Individual Stock
Replies: 19
Views: 1398

Re: Best Option to Sell Long Held Individual Stock

Surprised no one suggested selling covered calls. Earn some income to offset the tax bite. I made the opposite suggestion, buying puts, because that does a better job of reducing the risk. Writing a covered call gives you some income (the value of the call), but caps the upside. Buying a put costs ...
by Clarice
Mon Oct 14, 2019 1:42 pm
Forum: Personal Investments
Topic: Best Option to Sell Long Held Individual Stock
Replies: 19
Views: 1398

Re: Best Option to Sell Long Held Individual Stock

Surprised no one suggested selling covered calls. Earn some income to offset the tax bite.
by Clarice
Thu Oct 10, 2019 8:05 am
Forum: Personal Investments
Topic: Question for Landlords re 199a as business
Replies: 6
Views: 532

Re: Question for Landlords re 199a as business

4nursebee wrote:
Thu Oct 10, 2019 3:39 am
I do not know what you are talking about 250 hrs and 20% or 1099s

Get a CPA, this is what they do for a living.
Because you specifically don’t know what is being discussed then the OP should hire a CPA? Not helpful.
by Clarice
Wed Oct 09, 2019 6:25 am
Forum: Personal Finance (Not Investing)
Topic: Anyone want to share their monthly budget? Here's ours
Replies: 131
Views: 27231

Re: Anyone want to share their monthly budget? Here's ours

djpeteski wrote:
Mon Oct 01, 2018 1:29 pm
Tyrobi wrote:
Wed Jan 24, 2018 4:53 pm

Gift/Charity: $500
Thank you for being one of the few budgets that includes significant charitable giving. IMHO, this is a key part of wealth building.
How does giving wealth build wealth?
by Clarice
Tue Oct 08, 2019 3:18 pm
Forum: Personal Investments
Topic: Highly Compensated Employee & 401K limits
Replies: 41
Views: 4153

Re: Highly Compensated Employee & 401K limits

Are non safe harbor plans subject to HCE and ADP testing if they don’t match at all....? Few options suggested including increasing the match rate, changing the plan type, but I think you can get around this by having no match whatsoever... Absolutely. Anti-discrimination rules are to prevent only ...
by Clarice
Tue Oct 08, 2019 11:49 am
Forum: Personal Investments
Topic: Highly Compensated Employee & 401K limits
Replies: 41
Views: 4153

Re: Highly Compensated Employee & 401K limits

Are non safe harbor plans subject to HCE and ADP testing if they don’t match at all....?

Few options suggested including increasing the match rate, changing the plan type, but I think you can get around this by having no match whatsoever...
by Clarice
Mon Oct 07, 2019 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: using HELOC to buy second home
Replies: 8
Views: 966

Re: using HELOC to buy second home

I've done that. I owned home A outright. I took out the biggest interest-only HELOC I could get and combined that money with other funds to buy house B for cash. When house A sold (months later), the HELOC was paid off at settlement. I used an interest-only HELOC to keep the monthly payments as low...
by Clarice
Mon Oct 07, 2019 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth IRA Pro-Rata Question
Replies: 16
Views: 2421

Re: Mega Backdoor Roth IRA Pro-Rata Question

Why did you choose to rollover your pre-tax earnings on your after-tax contributions back into a 401k? Are you sure that this is required to prevent pro-rata for standard back door? Yes, see Form 8606 Line 6. All pre-tax balances in all traditional, SEP and SIMPLE IRA accounts are combined and incl...
by Clarice
Mon Oct 07, 2019 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Finance or Accounting Degree?
Replies: 81
Views: 5150

Re: Finance or Accounting Degree?

Megamill wrote:
Sat Oct 05, 2019 10:46 am
Math has always come very easily for DS and he has no interest whatsoever in anything STEM. Anyone have any input on which degree (Finance or Accounting) would offer better future opportunities?
I have both. ~5 additional classes. Get to stay in college longer. :sharebeer
by Clarice
Mon Oct 07, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth IRA Pro-Rata Question
Replies: 16
Views: 2421

Re: Mega Backdoor Roth IRA Pro-Rata Question

If you do decide to roll the pre-tax earnings into a TIRA, I suggest opening a new TIRA specifically for this purpose such that it's called a Rollover (or conduit) IRA. In my case, I choose to roll the pre-tax earnings *back* into my employer 401k to keep my TIRA slate "clean". This is to keep the ...
by Clarice
Sat Oct 05, 2019 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Combined deductible and non-deductible TIRA contributions
Replies: 31
Views: 1051

Re: Combined deductible and non-deductible TIRA contributions

keep the non deductible ira in a separate account and maintain a file with all the IRS returns think its form 8606 DO NOT CO MINGLE traditional with non ded iras What is the purpose of keeping them separate? I am not sure i see downside to co-mingling. Your 8606 forms will keep track of basis. Even...
by Clarice
Sat Oct 05, 2019 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Combined deductible and non-deductible TIRA contributions
Replies: 31
Views: 1051

Re: Combined deductible and non-deductible TIRA contributions

Going to correct this brokerage and check my 8606 to ensure that form stated my contributions were deducted as they absolutely should have been. To check if you deducted your TIRA contributions look at your 1040 form. Prior to 2018 the deduction would have been reported on line 32. For 2018 it woul...
by Clarice
Fri Oct 04, 2019 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: relocating across country
Replies: 47
Views: 3034

Re: relocating across country

Hi all wise Bogleheads. I am anticipating a relocation from New England to San Diego. Any words of wisdom on making a relocation as easy as possible for a family. Fortunately the finances seem to be well placed and the relocation budget I've been given is 220k which seems very generous. Thank you! ...
by Clarice
Fri Oct 04, 2019 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Combined deductible and non-deductible TIRA contributions
Replies: 31
Views: 1051

Re: Combined deductible and non-deductible TIRA contributions

Thank you, all.

Going to correct this brokerage and check my 8606 to ensure that form stated my contributions were deducted as they absolutely should have been. :oops: why I’m committing to filing by hand this year rather than blind trusting software.
by Clarice
Fri Oct 04, 2019 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Combined deductible and non-deductible TIRA contributions
Replies: 31
Views: 1051

Combined deductible and non-deductible TIRA contributions

Trying to understand the pro-rata rules a little bit better. Ty for your help. Say you have both deductible and non-deductible TIRA contributions in the same TIRA - who knows and how do they know if each contribution was deductible or not? I assume the IRS knows at least, but do the brokerages know?...
by Clarice
Tue Oct 01, 2019 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA instead of 529 plan
Replies: 54
Views: 2510

Re: Roth IRA instead of 529 plan

I got lost in the back and forth. Trying a pros and cons list. Correct me if I’m wrong. Roth v. 529 Roth pros: -Once it’s in then it’s penalty and tax free forever -I saw something about not counting toward FAFSA -Not limited to specific expenses for specific individuals -Seems easier in terms of li...
by Clarice
Sun Sep 29, 2019 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Capital Gains Step-Up With LLC?
Replies: 4
Views: 325

Re: Capital Gains Step-Up With LLC?

Hi. Thanks for the forum. My dad owned real estate, and the value increased quite a bit while he owned it. In 2018, he formed an LLC. The LLC's papers gave 51% of the LLC's assets to me and 49% to him. They also provide for 100% of his shares to transfer to me on his death. The properties were deed...
by Clarice
Sat Sep 28, 2019 3:14 pm
Forum: Personal Investments
Topic: How to contribute to an HSA
Replies: 12
Views: 1091

Re: How to contribute to an HSA

Why would you contribute post-tax dollars??? When you make direct contributions to an HSA or IRA, you are always making them from after-tax dollar$ and then you can take the deduction when you file your taxes. Only HSA and employer retirement plan contributions by salary reduction are true pre-tax ...
by Clarice
Fri Sep 27, 2019 10:16 pm
Forum: Personal Investments
Topic: Advice for a teen
Replies: 16
Views: 964

Re: Advice for a teen

Hello, my 18 year old daughter earned around 3k this summer. She opened a ROTH IRA at Vanguard and invested target retirement fund. She has an additional 3k from gifts and savings from the last few years, which she would like to invest in 1 or 2 ETFs for the short-medium term (1 to 3 years). Is a h...
by Clarice
Fri Sep 27, 2019 10:12 pm
Forum: Personal Investments
Topic: How to contribute to an HSA
Replies: 12
Views: 1091

Re: How to contribute to an HSA

Our HSA allows Post-Tax contributions. I just do a lump of $4,500 in January (the company puts in the first $2,500). I log into the HSA site and there is a "contribute" section. You have already paid the tax on the dollars, but when you fill out your tax return (and get the amounts in the right spo...
by Clarice
Fri Sep 27, 2019 10:09 pm
Forum: Personal Investments
Topic: Merrill Lynch Advisor wants to meet for coffee
Replies: 108
Views: 9209

Re: Merrill Lynch Advisor wants to meet for coffee

saver1 wrote:
Wed Sep 25, 2019 12:50 pm
Merrill Lynch advisor recently contacting me to meet for coffee and discuss financial strategies. How should I respond?

I don't have any interest to invest with Merrill Lynch. Just wanted your feedback on how to reply. Thanks!
dude, you seriously posted this?
by Clarice
Thu Sep 26, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with CIT Bank mortgages & when are rates not everything?
Replies: 1
Views: 201

Re: Experience with CIT Bank mortgages & when are rates not everything?

I think rate is all that matters. If you pay your bill on time you don’t need service. I’d go with them. Used to work there. Solid company.
by Clarice
Thu Sep 26, 2019 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Should we refinance student loans?
Replies: 4
Views: 272

Re: Should we refinance student loans?

I would refinance. Get rid of it.
by Clarice
Fri Sep 20, 2019 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Opening New Savings Account - Citi (2.36%) vs CIT (2.30%)?
Replies: 25
Views: 2981

Re: Opening New Savings Account - Citi (2.36%) vs CIT (2.30%)?

Hi all, I wish to open a new savings account because the one I have right now has a very low interest rate. Two banks that seem to have decent reviews caught my eye: Citibank at 2.36% and CIT at 2.30%. Does anyone have any experience with one or both of these banks? I have a couple questions that I...
by Clarice
Fri Sep 20, 2019 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Simple HSA Contribution Question
Replies: 4
Views: 429

Re: Simple HSA Contribution Question

anon_investor wrote:
Thu Sep 19, 2019 8:18 am
Does your employer let you do that? My HSA through my employer, only allows me to contribute to the HSA via payroll in prorated amounts throughout the year.
My employer lets me, yes.
by Clarice
Thu Sep 19, 2019 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Simple HSA Contribution Question
Replies: 4
Views: 429

Simple HSA Contribution Question

Hi folks, thanks for your help. HSA rules are somewhat complicated, so searching for a simple answer. Real simple - Assume you know you're going to be HSA-eligible for the current tax year, for the entire year. Assume your employer doesn't do any sort of matching contributions. Forget all other cash...
by Clarice
Wed Sep 18, 2019 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Home Equity Loan vs Traditional Mortgage Refinance
Replies: 3
Views: 419

Re: Home Equity Loan vs Traditional Mortgage Refinance

I’m not following. If they pay off mortgage, but the house would still be collateral than how is it a home equity loan?
by Clarice
Tue Sep 17, 2019 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Confused about after-tax contributions to 401k plans
Replies: 22
Views: 1640

Re: Confused about after-tax contributions to 401k plans

After-tax contributions are not better than taxable because of tax deferral. In fact, after tax money invested in stocks (and not rolled to Roth) is worse than putting the money in taxable because of how the earnings are taxed. If the after-tax money is invested in bonds, neither is better than the...
by Clarice
Tue Sep 17, 2019 4:50 pm
Forum: Personal Consumer Issues
Topic: $2k repairs on $12K car
Replies: 81
Views: 4973

Re: $2k repairs on $12K car

I just put $2k into a car worth $1k. See the post above mine.
by Clarice
Fri Sep 13, 2019 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Confused about after-tax contributions to 401k plans
Replies: 22
Views: 1640

Re: Confused about after-tax contributions to 401k plans

Thanks for your help, all. How are after-tax non-Roth contributions a better place for bonds? Both taxable and after-tax non-Roth are taxed at ordinary income rates are they not? Is it because of the tax deferral benefit? The ultimate goal of an after-tax 401(k) is a conversion to Roth IRA/401(k). ...
by Clarice
Fri Sep 13, 2019 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Confused about after-tax contributions to 401k plans
Replies: 22
Views: 1640

Re: Confused about after-tax contributions to 401k plans

Thanks for your help, all. How are after-tax non-Roth contributions a better place for bonds? Both taxable and after-tax non-Roth are taxed at ordinary income rates are they not? Is it because of the tax deferral benefit? See Tax-efficient fund placement - Bogleheads , and note that "it depends..."...
by Clarice
Fri Sep 13, 2019 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Confused about after-tax contributions to 401k plans
Replies: 22
Views: 1640

Re: Confused about after-tax contributions to 401k plans

Thanks for your help, all. How are after-tax non-Roth contributions a better place for bonds? Both taxable and after-tax non-Roth are taxed at ordinary income rates are they not? Is it because of the tax deferral benefit?
by Clarice
Fri Sep 13, 2019 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Confused about after-tax contributions to 401k plans
Replies: 22
Views: 1640

Confused about after-tax contributions to 401k plans

Assume a 401k plan offers pre-tax contributions, after-tax Roth contributions, and after-tax non-Roth contributions. Assume the employee contributes after-tax non-Roth dollars. Assume these dollars remain invested, earn dividends, are bought and sold at gains and losses, etc. - when does all of that...
by Clarice
Tue Sep 10, 2019 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth tax question
Replies: 6
Views: 611

Re: Mega Backdoor Roth tax question

My company's Vanguard 401k plan allows us to contribute up to $17,200 in after tax dollars each year to our 401k. We can then also set it to automatically perform an in-plan conversion of those after-tax contributions to a Roth 401k each pay period. My question is, if our Vanguard 401k plan provide...
by Clarice
Tue Sep 10, 2019 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Timing around buying a new home.
Replies: 9
Views: 949

Re: Timing around buying a new home.

Once you hesitate you are too late. I learned that skimboarding.
by Clarice
Tue Sep 10, 2019 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: 90/10 LTV HELOC?
Replies: 11
Views: 878

Re: 90/10 LTV HELOC?

Do any banks offer a HELOC as a secondary lien for the 80 to 90% portion of the value of your home? I originally wanted a 10% down mortgage, but my bank required 20% at the time and I couldn't find a good rate. Rates seem to be very low right now, are there any products out there with a good rate a...
by Clarice
Thu Sep 05, 2019 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: Stressed Over Money 25 Yr. Old
Replies: 65
Views: 5048

Re: Stressed Over Money 25 Yr. Old

This is bragging
by Clarice
Thu Sep 05, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: TIRA Contribution Recharacterizing to Roth
Replies: 16
Views: 448

Re: TIRA Contribution Recharacterizing to Roth

I wonder how they figure out the earnings amount considering the $6k funds were commingled with previous year's contributions... I don't know how it is done either. I contributed $6k in January. Now it's grown to $6.3k. If I do the recharacterization from TIRA to Roth then how is that not putting m...
by Clarice
Thu Sep 05, 2019 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: TIRA Contribution Recharacterizing to Roth
Replies: 16
Views: 448

Re: TIRA Contribution Recharacterizing to Roth

Anything over the $6k is earnings. Just tell the custodian you want to recharacterize the contribution you made on January whatever and let them worry about how much earnings to recharacterize. They can figure that out. If the $6k and earnings is the only thing in there, they will recharacterize th...
by Clarice
Thu Sep 05, 2019 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: TIRA Contribution Recharacterizing to Roth
Replies: 16
Views: 448

Re: TIRA Contribution Recharacterizing to Roth

Anything over the $6k is earnings. Just tell the custodian you want to recharacterize the contribution you made on January whatever and let them worry about how much earnings to recharacterize. They can figure that out. If the $6k and earnings is the only thing in there, they will recharacterize th...
by Clarice
Thu Sep 05, 2019 9:13 am
Forum: Personal Finance (Not Investing)
Topic: TIRA Contribution Recharacterizing to Roth
Replies: 16
Views: 448

Re: TIRA Contribution Recharacterizing to Roth

Did you check to be sure your MAGI will be under the limit to contribute to Roth? If yes, recharacterizing to roth IRA is the right move. Yes, my MAGI is between the TIRA and Roth limits - so Roth works but TIRA doesn't. Can you folks help me understand how to think of the principal + earnings sepa...
by Clarice
Thu Sep 05, 2019 8:39 am
Forum: Personal Finance (Not Investing)
Topic: TIRA Contribution Recharacterizing to Roth
Replies: 16
Views: 448

TIRA Contribution Recharacterizing to Roth

Hey folks thanks for your help. Front-loaded my TIRA contribution for 2019 in January 2019. $6,000. At the time, I was going to be able to fully deduct this contribution. Didn't realize I'd get married in September 2019! We are both in employer plans, and our MAGI is > $121k. Therefore I don't think...
by Clarice
Fri Aug 30, 2019 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in my Company Stock Plan (ESPP) - is it worth it?
Replies: 39
Views: 2059

Re: Investing in my Company Stock Plan (ESPP) - is it worth it?

HawkeyePierce wrote:
Fri Aug 30, 2019 10:51 pm
So, at most you get $1500 but have to lock it up for five years and face all the usual risks of investing in a single company? I think I'd pass.
This is wrong. Stock price can increase...
by Clarice
Fri Aug 30, 2019 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating Solo 401k Contribution
Replies: 13
Views: 491

Re: Calculating Solo 401k Contribution

This has my head spinning. I commend your expertise. Need to study up myself, but man this is much more complicated than individual retirement accounts.
by Clarice
Tue Aug 27, 2019 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Should I purchase a $30k car?
Replies: 112
Views: 7678

Re: Should I purchase a $30k car?

Nah. BMWs are whack.
by Clarice
Tue Aug 27, 2019 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card miles or cashback for travel to wedding
Replies: 20
Views: 1253

Re: Credit card miles or cashback for travel to wedding

Do you really think that BOFA, for example, doesn’t manage their cash back or points rewards to be equal at cost to them? For those w 1 card company and 2 cards, cash back or points, you’re not going to ‘beat’ the provider by picking 1 vs. another.
by Clarice
Mon Aug 26, 2019 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card miles or cashback for travel to wedding
Replies: 20
Views: 1253

Re: Credit card miles or cashback for travel to wedding

Cashback and points are so equal as to not even be worthwhile to think about 1 vs the other.
by Clarice
Sat Aug 24, 2019 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to keep daughter on my healthcare to get Family HSA contribution
Replies: 14
Views: 1078

Re: Does it make sense to keep daughter on my healthcare to get Family HSA contribution

I was under the impression that you could fill to family limits just if you had a spouse covered by the plan... so even if your daughter drops from plan but spouse still on it then you might be good...
by Clarice
Thu Aug 22, 2019 12:57 pm
Forum: Personal Investments
Topic: 401k deductible or Roth 401k
Replies: 12
Views: 805

Re: 401k deductible or Roth 401k

100% pretax in 401k then Roth separately outside. Easier all around then your 90/10 approach. I prefer TIRA due to higher paycheck today :). I don’t know why my tax bracket later would be higher than it is today.