Search found 6652 matches

by pshonore
Fri May 31, 2019 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Auto insurance - how much "medical expense benefits"?
Replies: 13
Views: 1099

Re: Auto insurance - how much "medical expense benefits"?

new2bogle wrote:
Fri May 31, 2019 9:28 am
What about an injured person (when you are at fault) who does not have health insurance?
That what the main Bodily Injury Liability covers (health insurance or not, passenger, pedestrian, etc).
by pshonore
Tue May 14, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: 2 Member LLC Owner Draw & Paying Tax for Work Credits
Replies: 4
Views: 262

Re: 2 Member LLC Owner Draw & Paying Tax for Work Credits

AFAIK you'll need operating earnings in Box 1 of the respective K1 to have self-employment earnings. Doing a 'draw" is not quite the the same thing.
by pshonore
Tue May 14, 2019 8:49 am
Forum: Personal Consumer Issues
Topic: Heating with propane?? Good idea?
Replies: 38
Views: 2200

Re: Heating with propane?? Good idea?

samsoes wrote:
Tue May 14, 2019 6:14 am
Be aware that it takes 1.5 gallons of propane to produce the equivalent heat (BTUs) produced by a gallon of heating oil.
Quite true, but Propane is more "efficient" than oil. Probably in the mid 90% range compared to high 80s% for a new oil burner.
by pshonore
Fri May 10, 2019 12:05 pm
Forum: Personal Consumer Issues
Topic: Hearing getting bad, which Hearing Aids would you recommend ??
Replies: 36
Views: 2818

Re: Hearing getting bad, which Hearing Aids would you recommend ??

Gill wrote:
Fri May 10, 2019 10:07 am
There have been some lengthy posts recently on this topic and a large number of people have suggested Costco Hearing Aid Center. I believe their top of the line hearing aids run about $2,500.
Gill
Costco got very favorable ratings in this month's Consumer Reports review
by pshonore
Thu May 09, 2019 12:14 pm
Forum: Personal Investments
Topic: Hedge against the decline of the Realtor profession
Replies: 48
Views: 4560

Re: Hedge against the decline of the Realtor profession

I think we heard the same thing 5-10 years ago. In my little corner of CT, the Agency model seems alive and well. Commissions might be down a tad, but most homes seem to sell with agents. YMMV.
by pshonore
Thu May 09, 2019 8:47 am
Forum: Personal Consumer Issues
Topic: Rarely used items that are worth having?
Replies: 112
Views: 12797

Re: Rarely used items that are worth having?

In the interest of accurate information and understanding, a snow roof rake looks like this. https://www.truevalue.com/roof-snow-rake-16-ft-long?cid=gooshop_google_b&ctcampaign=4680&ctkwd=&ctcreative=44622122499&ctplacement=&ctadpos=1o4&ctmatch=&ctlocid=9003438&cttrgtid=pla-296897550865&ctfeedid=&c...
by pshonore
Thu May 09, 2019 8:40 am
Forum: Personal Consumer Issues
Topic: Rarely used items that are worth having?
Replies: 112
Views: 12797

Re: Rarely used items that are worth having?

A syphon. Instead of storing gas in containers with stabilizer, etc... Your car(s) probably have all the fuel you'd ever need for Honda/Yamaha 1000 watt inverter. Most of todays cars have anti-syphon devices somewhere in the filler pipe. This may be to prevent spillage in rollovers rather than theft.
by pshonore
Thu May 09, 2019 7:53 am
Forum: Personal Consumer Issues
Topic: How to get insurance for a first time car buyer?
Replies: 10
Views: 826

Re: How to get insurance for a first time car buyer?

Be aware that temporary plates are NOT recognized in Mass... What does Mass use in the place of temporary plates? Not sure about MA, but in CT, the dealer can supply a new CT license plate or transfer your existing plate. All subject to having the required insurance. I did get a temporary plate fro...
by pshonore
Mon May 06, 2019 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Will vs POD?
Replies: 16
Views: 2077

Re: Will vs POD?

.....If you want to be buried in a nice place make sure you have that planned and sufficient assets in the probate estate to pay for it..... Well, even if you don't care and end up buried in a crummy place - you need to leave enough in your estate to pay a) Executor's fee (usually based on a percen...
by pshonore
Fri May 03, 2019 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Home purchase and closing
Replies: 6
Views: 1028

Re: Home purchase and closing

Just closed and had some (LOTS) of after-closing issues: - Even if inspector says water heater works make sure you turn on a couple faucets to make sure there is hot water - none of the cable jacks in my house worked. Not sure how to check this Good luck If the previous owners "cut the cord" there ...
by pshonore
Wed May 01, 2019 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Earned income for 9 year old
Replies: 52
Views: 3641

Re: Earned income for 9 year old

There were two doctors in my town, let’s call them A and B. A creates a scholarship that is awarded to offspring of B. A few years previously, B had created a scholarship awarded to offspring of, wait, spoiler alert, the child of A. IMO, stinks to the heavens, but apparently legal, or at least diff...
by pshonore
Tue Apr 30, 2019 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Random piling on of a financial advisor
Replies: 14
Views: 2260

Re: Random piling on of a financial advisor

Just as an aside, anyone measuring 10 year returns this month is starting at the low point following the great 2008 debacle. My 10 yr number as of 3/31/19 was around 12% (using XIRR). If the market winds up the same as now at year end, my 10 yr number (ending 12/31/19) will be around 5%.
by pshonore
Mon Apr 29, 2019 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Personal liability issues as a result of hiring uninsured & unlicensed handyman
Replies: 38
Views: 5282

Re: Personal liability issues as a result of hiring uninsured & unlicensed handyman

We only work with bonded, insured, licensed workers for tree trimming and painting multi-story buildings. We like sleeping well at night. Too many bad things could happen—very expensive to defend lawsuits—-I’m sn attorney but wouldn’t want to defend myself. "Bonded" workers do not exist for the mos...
by pshonore
Mon Apr 29, 2019 9:12 am
Forum: Personal Finance (Not Investing)
Topic: save on interest by paying down mortgage principal
Replies: 70
Views: 6939

Re: save on interest by paying down mortgage principal

If you want to cut your mortgage term in half from say 30 years to 15, pay an additional amount every month to principal that is equal to the principal amount for that month from the original amortization schedule. Of course that's easy to do with a new mortgage where the interest each month is usua...
by pshonore
Mon Apr 29, 2019 7:10 am
Forum: Investing - Theory, News & General
Topic: WSJ--How Schwab Ate Wall Street
Replies: 82
Views: 10561

Re: WSJ--How Schwab Ate Wall Street

I think CS is a very good firm with excellent customer service and IT service. I remember when I used to pay $29.95 for trades....geeee that sure sounds expensive in today's terms. I also have Charles Schwab's book "You're Fifty-Now What?" And the bid/ask spread was always 1/4 to 1/2 as well when b...
by pshonore
Sun Apr 28, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Unique Hit and Run Situation
Replies: 40
Views: 4924

Re: Unique Hit and Run Situation

My dad was in the parking lot and his car got side swiped by a hit and run driver. A nearby shop owner saw the car and license plate so we reported to our insurance. It was an elderly lady who had a special handicap license plate where they have "DP" designation in California. When we reported to t...
by pshonore
Sun Apr 28, 2019 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Why I don't think I should get long term care insurance right now
Replies: 164
Views: 12182

Re: Why I don't think I should get long term care insurance right now

Here's the big problem, I believe: Maximum Monthly Limit for: 100% Nursing Home Care: $10K 100% Home Health Care: $10K 100% Assisted Living Facility Care: $10K Annual Premium: $3,400 Their definition of "Long Term Care Insurance" is strange. I wouldn't consider Home Care or Assisted Living as Long ...
by pshonore
Sat Apr 27, 2019 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: Why I don't think I should get long term care insurance right now
Replies: 164
Views: 12182

Re: Why I don't think I should get long term care insurance right now

Is this the rate you would pay if you started the insurance at that age? No. That is the premium in each year. It goes up because of the inflation rider. Edit: I believe that is the big difference with would is being compared here to other people's policies and why mine sounds so high. Then I certa...
by pshonore
Sat Apr 27, 2019 8:27 am
Forum: Personal Consumer Issues
Topic: Water heaters/ energy consumption, high electric bill
Replies: 34
Views: 2027

Re: Water heaters/ energy consumption, high electric bill

I saw a YouTube video that showed one of the biggest energy sucks in a home is the cable box. No kidding it equaled a refrigerator. DH said when we went from 3 boxes to 1 box there was a huge electric savings i saw that too. I have a CenturyLink router, DSL service for $35/mo. i haven't checked, bu...
by pshonore
Fri Apr 26, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: umbrella insurance negative cost?
Replies: 16
Views: 1969

Re: umbrella insurance negative cost?

Spoke with my insurance agent, he called Travelers and they confirmed it was legit and the likely key factor was that I paid off the mortgage after my most recent premium payment, which lowered the risk factor. I must be missing something. Why would your risk of a large loss decrease after paying o...
by pshonore
Thu Apr 25, 2019 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Property sale capital gains tax holding
Replies: 14
Views: 851

Re: Property sale capital gains tax holding

Is depreciation recapture figured into your estimate of tax due from the sale? From Turbo tax - "Do you expect that your income tax withholding will be at least 100 percent of the total tax on your previous year's return? Or, if your adjusted gross income (Form 1040, line 37) on your tax return was ...
by pshonore
Wed Apr 24, 2019 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Adjusted basis in a partnership
Replies: 10
Views: 699

Re: Adjusted basis in a partnership

Note those suspended losses should have reduced your basis (and therefore increased your gain on sale). That normally be a wash with the suspended losses. My point is using the suspended losses without reducing basis may be understating your gain. Don't the partners instructions/sales info show your...
by pshonore
Tue Apr 23, 2019 3:35 pm
Forum: Personal Investments
Topic: What are the ways a solo business owner can put money into retirement?
Replies: 14
Views: 1132

Re: What are the ways a solo business owner can put money into retirement?

Note the contribution limits for self employed are limited to net profit less 1/2 of SS. A person making 10K of profit can contribute $9293 to a Solo401K
by pshonore
Tue Apr 23, 2019 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Underassessment by County Assessor
Replies: 29
Views: 2105

Re: Underassessment by County Assessor

Years ago, prior to selling my first home, I went in to the county assessor office and provided documentation that my home was larger than they had on record. I wanted the true details of the house to be public (even at the cost of higher taxes) so that the value was estimated higher on Zillow. Tha...
by pshonore
Tue Apr 23, 2019 1:20 pm
Forum: Personal Consumer Issues
Topic: Amazon Returns accepted at Kohl's Dept. Stores...
Replies: 26
Views: 2801

Re: Amazon Returns accepted at Kohl's Dept. Stores...

Returning Amazon items at Kohl's is much easier than dropping them off at UPS. If you return at Kohl's, you don't have to print a return mailing label or even package your item for shipping. You can just walk in with an unwrapped, unboxed item and drop it off. At least that's the way it is at the K...
by pshonore
Tue Apr 23, 2019 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Adjusted basis in a partnership
Replies: 10
Views: 699

Re: Adjusted basis in a partnership

MikeRM wrote:
Tue Apr 23, 2019 9:21 am
That's a great point...do you have a point of view on whether the sale price should actually be 38,500, or whether I should exclude the 38,500 from reducing my basis?
Does the distribution actually show up in Box 19A of the K1? What are the numbers in the Capital Account block - Section L?
by pshonore
Tue Apr 23, 2019 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Underassessment by County Assessor
Replies: 29
Views: 2105

Re: Underassessment by County Assessor

Years ago, prior to selling my first home, I went in to the county assessor office and provided documentation that my home was larger than they had on record. I wanted the true details of the house to be public (even at the cost of higher taxes) so that the value was estimated higher on Zillow. Tha...
by pshonore
Tue Apr 23, 2019 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Adjusted basis in a partnership
Replies: 10
Views: 699

Re: Adjusted basis in a partnership

Sounds to me like you're counting the sale twice. (once as a distribution and also as a sale)
by pshonore
Tue Apr 23, 2019 8:59 am
Forum: Personal Finance (Not Investing)
Topic: One big end of year tax payment instead of quarterly payments for S-corp?
Replies: 9
Views: 858

Re: One big end of year tax payment instead of quarterly payments for S-corp?

I suppose its possible to have no withholding from say monthly paychecks issued by your S-Corp and then have enough withheld from the last paycheck to cover the tax. I'm sure people do that with RMDs. However you probably would be filing a somewhat fraudulent W4 withholding form in the case of a pay...
by pshonore
Mon Apr 22, 2019 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Mid year S-corp to sole proprietorship tax/401k implications
Replies: 38
Views: 1890

Re: Mid year S-corp to sole proprietorship tax/401k implications

I'm a physician currently have an S-corp but I am thinking sole proprietorship this may be more advantageous for me in terms of reducing federal income tax (increased section 199A QBI deduction). I plan to continue contributions to my individual 401k, possibly shifting to making mega backdoor contr...
by pshonore
Mon Apr 22, 2019 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: LLC taxed as S Corp - SS and Dividends
Replies: 16
Views: 1097

Re: LLC taxed as S Corp - SS and Dividends

First, from above if this is SSTB income, someone in the 37% tax bracket would not be eligible for any QBI deduction. Partners in partnerships do not have W-2 wages. In the case of both S-Corps and partnerships, only K-1 distributions are eligible for the QBI deduction. Which will be far smaller wi...
by pshonore
Mon Apr 22, 2019 11:14 am
Forum: Personal Finance (Not Investing)
Topic: LLC taxed as S Corp - SS and Dividends
Replies: 16
Views: 1097

Re: LLC taxed as S Corp - SS and Dividends

First, from above if this is SSTB income, someone in the 37% tax bracket would not be eligible for any QBI deduction. Partners in partnerships do not have W-2 wages. In the case of both S-Corps and partnerships, only K-1 distributions are eligible for the QBI deduction. Which will be far smaller wi...
by pshonore
Mon Apr 22, 2019 8:51 am
Forum: Personal Investments
Topic: Need help selling MLP [Master Limited Partnership]
Replies: 10
Views: 1003

Re: Need help selling MLP [Master Limited Partnership]

A little further explanation. Each year you get a K1 which usually shows operating income as well as other items of income and expense. (For most MLPs its usually an operating loss). Those losses get suspended and can be used in the future to offset operating income from the same MLP. When you sell,...
by pshonore
Sun Apr 21, 2019 9:07 am
Forum: Investing - Theory, News & General
Topic: Why don't dividends affect the cost basis?
Replies: 14
Views: 1964

Re: Why don't dividends effect the cost basis?

The dividend affects the cost basis of your holding if you reinvest the dividend. Note your holding is now more than the original share. The cost basis of that one share is not changed. If you did reinvest the cost basis of the holding would be $9.88. At the same time your holding would also be mor...
by pshonore
Thu Apr 18, 2019 9:20 am
Forum: Personal Investments
Topic: Roth IRA Withdrawal - Penalized or Not??
Replies: 7
Views: 691

Re: Roth IRA Withdrawal - Penalized or Not??

Form 5498 from the various custodians over the years
by pshonore
Thu Apr 18, 2019 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Universal Life Policy Lincoln Financial - what to do?
Replies: 14
Views: 1502

Re: Universal Life Policy Lincoln Financial - what to do?

I’m guessing that your mother will be 100 years old in December 2025 when the policy matures. Some policies are setup such that they will pay the death benefit on your 100th birthday. The annual premium is set in the contract. I would calculate what the total premium would be if she hits 100 and if...
by pshonore
Wed Apr 17, 2019 9:03 am
Forum: Personal Investments
Topic: SSA Retirement and Child-in-Care Spousal Benefits
Replies: 10
Views: 643

Re: SSA Retirement and Child-in-Care Spousal Benefits

Wife's benefit will stop when the child turns 16. She can then start collecting Spousal/hers at age 62. Kids benefit stops at age 18 or reaching age 19 + 2 months if still attending high school. Max taxation of SS is on 85% of SS benefit, depending on other income. -edited to show kids benefit stops...
by pshonore
Wed Apr 17, 2019 7:46 am
Forum: Personal Finance (Not Investing)
Topic: Universal Life Policy Lincoln Financial - what to do?
Replies: 14
Views: 1502

Re: Universal Life Policy Lincoln Financial - what to do?

I’m guessing that your mother will be 100 years old in December 2025 when the policy matures. Some policies are setup such that they will pay the death benefit on your 100th birthday. The annual premium is set in the contract. I would calculate what the total premium would be if she hits 100 and if...
by pshonore
Mon Apr 15, 2019 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Physician “TO-DO” list for LLC
Replies: 30
Views: 2998

Re: Physician “TO-DO” list for LLC

Thanks. I’m sold about the solo 401K route. My assumption from comments above is that Vanguard solo 401K has no employee restriction, so that if she ever hired an employee she would immediately be disqualified from a solo 401K and would have to roll over that pre-tax income into a SEP-IRA? Would yo...
by pshonore
Sun Apr 14, 2019 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Son is a college student still staying at home. How to file taxes?
Replies: 9
Views: 1162

Re: Son is a college student still staying at home. How to file taxes?

https://www.taxslayer.com/blog/can-claim-student-dependent/ "If your child is a full-time college student, you can claim them as a dependent until they are 24. If they are working while in school, you must still provide more than half of their financial support to claim them. Be aware that if your ...
by pshonore
Thu Apr 11, 2019 5:34 pm
Forum: Personal Consumer Issues
Topic: Boston area - nice towns for families
Replies: 80
Views: 5427

Re: Boston area - nice towns for families

Natick is typically where people go if they can't afford the inner suburbs. South Natick is the nicest, and the priciest. I lived in East Natick. The house I grew up in now sells for $665k according to zillow. It now has 5 beds/3 baths (it started with 2 beds/1 bath). It backs up to a woodland/pond...
by pshonore
Thu Apr 11, 2019 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Appraised vs Market Value of Home
Replies: 23
Views: 1652

Re: Appraised vs Market Value of Home

Like politics "all appraisals is local". There are many, many approaches as determined by local government. In CT, properties are re-assessed every 5 years and every other cycle requires at least a physical walkaround of the property, with an interior inspection at the owner's discretion. These are ...
by pshonore
Wed Apr 10, 2019 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Help: Help with quick tax related questions (1099 and child tax credit)
Replies: 2
Views: 238

Re: Tax Help: Help with quick tax related questions (1099 and child tax credit)

Sounds to me like your OK with January daycare expenses but none after that. And there is likely a problem with the DCFSA as well unless your January expenses cover your total contributions.
by pshonore
Wed Apr 10, 2019 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Seller's Agent - Tiered Commission structure?
Replies: 15
Views: 1226

Re: Seller's Agent - Tiered Commission structure?

If a buyer comes with no agent, won't they expect you to discount the price by some significant portion of the buyer's agent's commission (and perhaps expect that to come out of the total 5% commission in the contract with the seller's agent)? And what happens to the listing contract that says the ...
by pshonore
Wed Apr 10, 2019 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Can a tax assessment change once it's posted on Assessor's Website?
Replies: 4
Views: 354

Re: Can a tax assessment change once it's posted on Assessor's Website?

Every assessor has different procedures but generally issuance of a CO (Certificate of Occupancy) is a signal to the Assessor to go out and update the books.
by pshonore
Sat Apr 06, 2019 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Can I use QBI for my Rental Properties?
Replies: 20
Views: 1588

Re: Can I use QBI for my Rental Properties?

xerxes101 wrote:
Sat Apr 06, 2019 9:21 am
abuss368 wrote:
Fri Apr 05, 2019 7:45 pm
As a side note, REITs are allowed the 20% QBI deduction.
Do you mean you are allowed QBI deduction as an REIT investor, could you please clarify that?
REITs pass through eligible QBI in Box 5a of the 1099DIV form. Most tax software handles that.
by pshonore
Sat Apr 06, 2019 9:39 am
Forum: Personal Finance (Not Investing)
Topic: HDHP Through S-Corp
Replies: 12
Views: 823

Re: HDHP Through S-Corp

Does taking the SE Health Insurance deduction (as an S-Corp owner) reduce QBI like it would for a Sole Proprietor?
by pshonore
Fri Apr 05, 2019 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: How reliable is H&R Block...?
Replies: 24
Views: 1935

Re: How reliable is H&R Block...?

My folks’ experience with H&R Block has been mixed at best. They experienced occasional small issues, but mostly no issues for years. However, in recent years errors were found by me, the IRS and/or the state (easy to avoid, simple errors). Stopped using them. Thanks... When you found the errors, d...
by pshonore
Fri Apr 05, 2019 3:58 pm
Forum: Personal Investments
Topic: How to transfer from Janus to Fidelity without paying capital gains?
Replies: 24
Views: 1791

Re: How to transfer from Janus to Fidelity without paying capital gains?

Who has been filing tax returns over the years? If so, the cap gains may not be as bad as you think.