Search found 6408 matches

by pshonore
Sat Oct 13, 2018 9:28 am
Forum: Investing - Theory, News & General
Topic: Social Security COLA - how is it applied?
Replies: 13
Views: 1286

Re: Social Security COLA - how is it applied?

My spouse turns 62 in December. Her first SS check will be received in January. Will it include the 2019 COLA because her birthday was in December? In this case her very first check would include the COLA. I googled around and have not been able to find a description of the exact mechanics. Is she ...
by pshonore
Thu Aug 30, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Post Mortem Settlement
Replies: 59
Views: 4617

Re: Post Mortem Settlement

Sorry for your loss. Her July payment from SS was her benefit for the month of June and she was entitled to that. Since she did not live for the entire month of July, any payment received in August should be returned A few who responded agreed with you, however, that's not our experience. My mother...
by pshonore
Fri Aug 10, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: SS 2019 COLA could be close to 3%
Replies: 55
Views: 5959

Re: SS 2019 COLA could be close to 3%

I imagine some folks are still paying less than $134/month for Part B because of the hold-harmless provision. They won't receive the full COLA because some of will go toward Part B.
by pshonore
Fri Aug 10, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Post Mortem Settlement
Replies: 59
Views: 4617

Re: Post Mortem Settlement

Sorry for your loss. Her July payment from SS was her benefit for the month of June and she was entitled to that. Since she did not live for the entire month of July, any payment received in August should be returned
by pshonore
Fri Aug 10, 2018 7:48 am
Forum: Personal Finance (Not Investing)
Topic: SS 2019 COLA could be close to 3%
Replies: 55
Views: 5959

SS 2019 COLA could be close to 3%

The August CPI figures were released today. The 3 month average CPI-W (June July August) is 246.429 . Thats 3.1 % greater then the same period last year and 2.8 % greater than the reference period last year ( Aug Sept Oct) which is used to determine the SS COLA. There are two months to go but the CO...
by pshonore
Thu Aug 09, 2018 10:09 am
Forum: Investing - Help with Personal Investments
Topic: 401k for small business owner
Replies: 15
Views: 686

Re: 401k for small business owner

When I was doing taxes, I was always amazed by the small number number of people who contributed to retirement plans (401K, 403b, IRA, etc). Most of those who did contribute were either public employees or well paid corporate folks. A single parent making less than say 40 - 50K just can't spare thos...
by pshonore
Wed Aug 08, 2018 2:12 pm
Forum: Personal Consumer Issues
Topic: Insurance refusing to pay for car accident
Replies: 26
Views: 2512

Re: Insurance refusing to pay for car accident

Yes, it was a single hit, car C hit Car B and Car B plowed into my car. I took the car to a local body shop and they estimated the damage to be around $3,500. Car C is at fault. If you have uninsured motorist coverage then file a claim with your insurance. In most states, uninsured motorist coverag...
by pshonore
Wed Aug 08, 2018 10:11 am
Forum: Personal Consumer Issues
Topic: Whole house generator
Replies: 31
Views: 1852

Re: Whole house generator

First, you do not want Genrac, get the Kohler. Kohler manufactures their own motors and are much more reliable systems. Please point to documented proof of your statements. Generac makes their own motors as well, and I have yet to find any accurate sources of reliability comparisons among generator...
by pshonore
Wed Aug 08, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Personal liability issues as a result of hiring uninsured & unlicensed handyman
Replies: 33
Views: 3734

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

Lets say the guys drop a tree on someone walking by. Guess who gets sued? EVERYBODY! Father will have to hire his own lawyer to defend him. That won't be cheap. (If he had Homeowners insurance, the insurance company would probably defend him)
by pshonore
Wed Aug 08, 2018 8:33 am
Forum: Personal Consumer Issues
Topic: Whole house generator
Replies: 31
Views: 1852

Re: Whole house generator

I like your approach but would size it a little bigger. We have a 240V well pump so we have a 6KW gen. And we probably burn 5-6 gallons a day. Doubt that spouse could start the generator in my absence. Also the generator is quite noisy but you learn to live with it.
by pshonore
Wed Aug 08, 2018 8:06 am
Forum: Personal Consumer Issues
Topic: Whole house generator
Replies: 31
Views: 1852

Re: Whole house generator

You call the delivery company and they drive out with a big truck and fill it. Then comes the invoice. Of course, if you never or rarely fill it you will only have to buy gas once. I'm not aware of any companies who deliver NG in my area. There are lots who deliver Propane (which is not interchange...
by pshonore
Wed Aug 08, 2018 7:50 am
Forum: Personal Consumer Issues
Topic: Whole house generator
Replies: 31
Views: 1852

Re: Whole house generator

The problem I have found is that you need to choose natural gas as a fuel source to do it right and you have two options: utility supply or a stand alone tank. As someone else pointed out, in a true emergency the gas may or may not be available from the utility company. To do it right, you need you...
by pshonore
Tue Aug 07, 2018 6:52 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice related to Limited Partnership Commodities ETF with K-1 reporting
Replies: 12
Views: 661

Re: Seeking Advice related to Limited Partnership Commodities ETF with K-1 reporting

There are going to be some adjustments on the K1 in the year you sell. Thanks for the information. I think I'm going to get out before end of 2018, so will only deal with the K1 this one year. Can you elaborate on what type of "adjustments" are made to the K1 in the year of sale? Do they issue one ...
by pshonore
Tue Aug 07, 2018 1:02 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice related to Limited Partnership Commodities ETF with K-1 reporting
Replies: 12
Views: 661

Re: Seeking Advice related to Limited Partnership Commodities ETF with K-1 reporting

There are going to be some adjustments on the K1 in the year you sell. Its not as simple as subtracting purchase price from sale price to get cap gain/loss. Turbo Tax can usually handle them but you will have to pay attention to the details. K1 forms for the years you hold (but do not sell) are gene...
by pshonore
Tue Aug 07, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: When are the taxes due on rental property sale
Replies: 14
Views: 983

Re: When are the taxes due on rental property sale

Note if you're making estimated payments, you usually cannot wait until Q4 to do so, unless the extra income was earned in Q4. In that case you may have to file Form 2210 to demonstrate that. The closing was on 6/29 - 3 days before Q2 was over. I assume making estimated payment on Q3 would be ok? Q...
by pshonore
Tue Aug 07, 2018 12:31 pm
Forum: Personal Consumer Issues
Topic: Auto Insurance for Out of State College Student
Replies: 7
Views: 537

Re: Auto Insurance for Out of State College Student

In the real world college students use cars owned by their parents in out of state locations. My experience is that my USAA insurance knows and expects all this to happen, so I just tell them where the car is garaged and who the principal driver is. Not sure a company can write coverage on a vehicl...
by pshonore
Tue Aug 07, 2018 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: When are the taxes due on rental property sale
Replies: 14
Views: 983

Re: When are the taxes due on rental property sale

Note if you're making estimated payments, you usually cannot wait until Q4 to do so, unless the extra income was earned in Q4. In that case you may have to file Form 2210 to demonstrate that.
by pshonore
Sun Aug 05, 2018 1:38 pm
Forum: Personal Consumer Issues
Topic: Prefinished White Oak Floors with Matching Stair Treads
Replies: 14
Views: 1033

Re: Prefinished White Oak Floors with Matching Stair Treads

One problem is there is no standard for stairways as far as width and depth (a/k/a rise and run). All flooring has to be cut to be installed but the cut edges are usually hidden. Even in the old days, stair instillation was left to the most experienced finish carpenters as it can be tricky and requi...
by pshonore
Thu Aug 02, 2018 7:13 pm
Forum: Personal Consumer Issues
Topic: Ticks and common sense?
Replies: 74
Views: 4372

Re: Ticks and common sense?

In the 35 years I have lived in eastern Connecticut, I have removed somewhere between 500 to 1000 ticks from my person. They are everywhere and having three dogs for a good portion of that time just added to the problem. Fortunately I have never contracted Lyme or any tick related illness. It is imp...
by pshonore
Thu Aug 02, 2018 4:10 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA and MAGI Definition Confusion
Replies: 7
Views: 985

Re: IRMAA and MAGI Definition Confusion

The Medicare threshold for IRMAA is an MAGI < $170K. My goal is to assure I am below this threshold. To do this, I might need to re-characterize a portion of a Roth conversion done this year . I believe you can still recharacterize a Roth conversion done in 2017 thru Oct 15 (if you filed an extensi...
by pshonore
Tue Jul 31, 2018 10:16 am
Forum: Personal Consumer Issues
Topic: Am I being ripped off by my dentist and/or insurance company?
Replies: 23
Views: 1995

Re: Am I being ripped off by my dentist and/or insurance company?

Dental insurance usually reimburses 100% preventive (cleanings), 80% basic (fillings, I think), and 50% major (crowns). The kicker I have found is that all of these percentages are paid at the carrier's reasonable & customary rates, which may be far lower than the amount your dentist is charging. I...
by pshonore
Mon Jul 30, 2018 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Questions
Replies: 13
Views: 1210

Re: Auto Insurance Questions

Do you need UM/UIM? On one extreme, there are posters who say it's useless if you have adequate health/life/disability insurance. On the other extreme, there are posters who argue everyone should want as much pain and suffering compensation as possible, without ever quite explaining why auto accide...
by pshonore
Mon Jul 30, 2018 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Questions
Replies: 13
Views: 1210

Re: Auto Insurance Questions

Umbrella policies usually pay for a claim against you. My guess (without looking in detail at Geico's website) is those coverages you mentioned protect you from uninsured or underinsured drivers who are at fault.
by pshonore
Mon Jul 30, 2018 10:43 am
Forum: Personal Finance (Not Investing)
Topic: How to vet a tax accountant
Replies: 4
Views: 515

Re: How to vet a tax accountant

That depends on how complicated your return is. One way to start is to show the person last year's return and have them explain every line. Also ask how any anticipated changes in financial matters (increased salary, birth of kids, retirement, etc) will impact things.
by pshonore
Mon Jul 30, 2018 10:39 am
Forum: Personal Consumer Issues
Topic: Two Days on Long Island
Replies: 16
Views: 1558

Re: Two Days on Long Island

Belmont Park - unfortunately the horse racing has moved to Saratoga for the month of August but will be back around Labor Day
by pshonore
Sun Jul 29, 2018 12:51 pm
Forum: Personal Consumer Issues
Topic: Buying a senior apartment with lots of unwanted upgrades
Replies: 15
Views: 1781

Re: Buying a senior apartment with lots of unwanted upgrades

I have the opportunity to purchase an apartment in a 55+ new senior apartment building. You have to be on the waiting list for resales. This one is about a year old. The price with $60K of upgrades added is $173K. She's willing to remove some of the upgrades and bring down the price to about $167K....
by pshonore
Thu Jul 26, 2018 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: [S-Corps] Accountant advice on handling profit
Replies: 22
Views: 1428

Re: [S-Corps] Accountant advice on handling profit

My business partner and I run an S-Corp. We are 50/50 partners. Recently talked with our accountant about having an "Operating Reserve fund".. this will essentially be a business savings account where we store excess cash that can serve as emergency fund / innovation fund as we need more cash to gr...
by pshonore
Thu Jul 26, 2018 7:40 pm
Forum: Investing - Help with Personal Investments
Topic: Struggles with 1st QCD and RMD
Replies: 5
Views: 546

Re: Struggles with 1st QCD and RMD

You can also have Fido mail the QCD check to you, which you then forward to the charity with an appropriate message.
by pshonore
Wed Jul 25, 2018 11:15 am
Forum: Investing - Help with Personal Investments
Topic: Thank you for saving me from Fidelity $$$ advice! Now seeking help.
Replies: 15
Views: 2917

Re: Thank you for saving me from Fidelity $$$ advice! Now seeking help.

Not sure how long you've been at Fido, but have you compared the 10 yr performance of FTBFX vs FSITX or other intermediate bond funds? Of course past performance is no indication of what will happen in the future.
by pshonore
Wed Jul 25, 2018 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase property tax question- need advice asap
Replies: 4
Views: 704

Re: Home Purchase property tax question- need advice asap

Connecticut - Houses are reassessed every five years. Every other reassessment requires a physical inspection walkaround (so every 10 years). If a new bathroom, Central air, deck, etc. is found for, your value will increase by the cost of the improvement. You are not required to let the assessor in ...
by pshonore
Mon Jul 23, 2018 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: House appraisal by township for property tax
Replies: 13
Views: 1124

Re: House appraisal by township for property tax

However, I think I've been convinced to call the appraiser. for an appointment There really haven't been any improvements since they last looked at the interior, so the only revisions I can think of would be downwards. Actually thats not how it works, they estimate the replacement cost of your hous...
by pshonore
Mon Jul 23, 2018 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: House appraisal by township for property tax
Replies: 13
Views: 1124

Re: House appraisal by township for property tax

Its quite routine in CT. You don't have to allow the person in your home, but if you don't, its hard to dispute his conclusions about finishes, condition, etc. I actually enjoy talking to the people who come around. As a former Realtor, I ask questions about the process as well and pick their brains...
by pshonore
Mon Jul 23, 2018 1:32 pm
Forum: Investing - Help with Personal Investments
Topic: Withdrawing funds for Roth conversions
Replies: 5
Views: 523

Re: Withdrawing funds for Roth conversions

I was not clear in the question I asked. He will be removing a portion of his tIRA each year to convert to Roth. Taxes on the conversion will be paid from an outside source (savings, CDs). Does he need to have a portion of his tIRA in the Vanguard prime money market specifically earmarked for conve...
by pshonore
Mon Jul 23, 2018 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Car usage as independent contractor - reimbursement v. tax deductions
Replies: 16
Views: 1603

Re: Car usage as independent contractor - reimbursement v. tax deductions

Katietsu wrote:
Mon Jul 23, 2018 10:15 am
I would keep the 14 cents a mile. And I would take the deduction on the Sch C for what will be a 40.5 cent,mile net.
Agree; the 14 cents goes into gross income. The 54 cents is a valid expense provided you meet the requirements (not commuting, etc).
by pshonore
Sat Jul 21, 2018 8:37 am
Forum: Personal Consumer Issues
Topic: Furniture sliders
Replies: 17
Views: 1249

Re: Furniture sliders

Be sure you get the kind with the rubber bottoms. They will prevent the furniture from moving around.
by pshonore
Sat Jul 21, 2018 8:14 am
Forum: Personal Consumer Issues
Topic: Ashley furniture experience? 2000 dollars for 13x8x8 sectional
Replies: 40
Views: 4174

Re: Ashley furniture experience? 2000 dollars for 13x8x8 sectional

Ashley furniture is lower end, comparable to Rooms to Go, better than Walmart. I would buy tables or shelving units there, but I wouldn't purchase a piece of furniture that will take heavy abuse, such as a sofa, there. You can spend a little more and move up into the Pottery Barn, West Elm, etc., c...
by pshonore
Sat Jul 21, 2018 8:09 am
Forum: Personal Consumer Issues
Topic: Garage door experts
Replies: 19
Views: 1462

Re: Garage door experts

This is good practice for the next time the power goes out and you need to get out of the garage.
by pshonore
Wed Jul 18, 2018 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: How Unclaimed Property Laws Can Affect Retirees
Replies: 36
Views: 3407

Re: How Unclaimed Property Laws Can Affect Retirees

Does simply logging in to check balances (or just that the money is still there) count? Or does one need to make changes to something? IF automatic distributions, such as RMD's do NOT count.. WOW... this is a time bomb waiting to zap a lot of people, and older people disproportionately. I see they ...
by pshonore
Wed Jul 18, 2018 11:11 am
Forum: Personal Consumer Issues
Topic: Question about new construction basement houses
Replies: 19
Views: 1501

Re: Question about new construction basement houses

$26 a SF for 1,000 extra feet sounds like an excellent deal if your finances allow it. When Realtors are comparing homes for buyers, SF cost is a key figure for tax purposes and resale. If your proposed area is one where contractors are closer to taking orders than selling homes, I would want to ch...
by pshonore
Tue Jul 17, 2018 7:12 pm
Forum: Personal Consumer Issues
Topic: Hardwood Floors
Replies: 15
Views: 2340

Re: Hardwood Floors

There's been lots of consolidation in the hardwood flooring business. Bruce and Armstrong are now one company. Rather than company, focus on type of floor. Engineered looks great, but despite what is advertised, they cannot be refinished so figure a 20 year life in wear areas. Solid floors can be r...
by pshonore
Tue Jul 17, 2018 6:36 pm
Forum: Investing - Help with Personal Investments
Topic: Employer Contributions for Solo 401k
Replies: 4
Views: 337

Re: Employer Contributions for Solo 401k

A portion of my income is 1099 money and I have a Solo 401k. I am trying to figure out the employer side of contributions. I have heard that you can contribute 20% of your income for the employer side. I have seen Publication 560 that was published in March 2018. However, that was for the 2017 tax ...
by pshonore
Mon Jul 16, 2018 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Any guidelines on going pre or post tax for pension HAS.
Replies: 8
Views: 381

Re: Any guidelines on going pre or post tax for pension HAS.

I would ask the HR folks (or the union rep if you have one) how that provision (pension based on pay after Sec 125 deductions) came to pass. That's a new one on me. Section 125 plans have probably been around for 30 years or so.
by pshonore
Mon Jul 16, 2018 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Any guidelines on going pre or post tax for pension HAS.
Replies: 8
Views: 381

Re: Any guidelines on pre/post tax with HAS (pension).

My pension will be based on three highest years of salary. I've got five years before retirement but I might be in my highest HAS years now. Today, I elected to pay dental insurance post tax. It's about $700 a year for me and the kids. I calculated that I could lose out on about 15k worth of pensio...
by pshonore
Mon Jul 16, 2018 11:22 am
Forum: Investing - Help with Personal Investments
Topic: Help me analyze this real estate sale
Replies: 15
Views: 1088

Re: Help me analyze this real estate sale

You have been claiming depreciation on the rental, correct? That portion will likely not be taxed at CG rates.
by pshonore
Mon Jul 16, 2018 11:01 am
Forum: Investing - Help with Personal Investments
Topic: Investing in oil?
Replies: 13
Views: 1025

Re: Investing in oil?

Also most commodity ETFs reports taxes on a K1 which will not simplify your taxes. Quite the opposite.
by pshonore
Mon Jul 16, 2018 10:56 am
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 23
Views: 1106

Re: Suggestions For Re-attaching a Closet Handle

Whats on the back side of the door? What holds it closed? In the old days, there would be an identical handle on the inside of the door (which is really not necessary for a closet unless someone winds up in the closet with a closed door; even then there should be a release mechanism). Its hard to te...
by pshonore
Sun Jul 15, 2018 3:13 pm
Forum: Personal Consumer Issues
Topic: Do insurance agents add value? How?
Replies: 24
Views: 1711

Re: Do insurance agents add value? How?

The term independent agent and broker are used interchangeably at least for CP business written through the independent agency system. Typically an agent would have a contract with probably 3 or 4 of the large national carriers, (The Hartford, Travelers, Farmers, etc) as well as some of the smaller ...
by pshonore
Thu Jul 12, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance for Couple Early Retirement
Replies: 29
Views: 2611

Re: Health Insurance for Couple Early Retirement

If enrolling in ACA be sure to check if your doctors (and hospitals) accept it. Depending on the state, not all do. If you don't mind switching, thats a moot point.
by pshonore
Wed Jul 11, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: What are your property taxes?
Replies: 212
Views: 14268

Re: What are your property taxes?

Murfreesboro, TN (Nashville) Assessed Value of home $425K ($520K real value) Annual prop Tax bill - $3980 Just got a notice its going up...homes have increase about 10% a year the last few years. But if homes go up 10% or whatever in a year(s) why does government spending need to go up by the same ...