Search found 5629 matches

by pshonore
Fri Nov 17, 2017 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Tax estimator
Replies: 6
Views: 507

Re: H&R Block Tax estimator

That's odd; usually all dividends are reported as ordinary on Form 1099 and should be entered as such and added to other income (wages, SS, etc) to get AGI. Qualified dividends (as a subset of ordinary dividends) are entered separately and used to calculate tax.
by pshonore
Tue Nov 14, 2017 9:52 am
Forum: Personal Consumer Issues
Topic: Dumb Question on Water Heater
Replies: 9
Views: 1142

Re: Dumb Question on Water Heater

No Pilot light nor ignition (company is HTP that makes this by the way - solid American company). Once the gas and furnace are on - you should have hot water - if not - the problem could be the furnace - the zone valve off the furnace - or a control valve or circuitry (I'm not expert). The water is...
by pshonore
Mon Nov 13, 2017 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Long term capital gains tax - effective tax is higher than 15%
Replies: 15
Views: 1052

Re: Long term capital gains tax - effective tax is higher than 15%

In addition, the added income may reduce some credits based on AGI like Child Tax Credit, SLI and Education credit phaseouts, etc)
by pshonore
Mon Nov 13, 2017 9:57 am
Forum: Investing - Theory, News & General
Topic: Populating a spread sheet with Investing date
Replies: 6
Views: 592

Re: Populating a spread sheet with Investing date

drdrgolf wrote:
Sun Nov 12, 2017 1:13 pm
Thanks for the answer. It does work for mutual funds, but alas not for Stocks. I will keep optimistic for another reply.
Drgolf
Google finance lookup for stocks works for me. (I don't think they use Yahoo)
by pshonore
Sun Nov 12, 2017 10:26 am
Forum: Personal Consumer Issues
Topic: Frontier Flight Fees
Replies: 17
Views: 1143

Re: Frontier Flight Fees

Sounds like Spirit. Fares are cheap, but it costs $ to use the overhead bins, check a bag or pick a seat. However I have never seen a plane load as fast since no one one is blocking the aisles looking for space in the bins. Same thing getting off.
by pshonore
Sun Nov 12, 2017 10:20 am
Forum: Investing - Help with Personal Investments
Topic: Help! Tax question as I bogelize my holdings
Replies: 16
Views: 1205

Re: Help! Tax question as I bogelize my holdings

Don't forget you also have personal exemptions (~4100 for each person) to further reduce your taxable income. To make a long story short, the portion of cap gains and QDs that fall in the 15% taxable income bracket ($75900 ) and below are not taxed. Those falling above are taxed at 15%. If you have ...
by pshonore
Sun Nov 12, 2017 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Federal tax on dividends & LTCG's question
Replies: 5
Views: 550

Re: Federal tax on dividends & LTCG's question

The Qualified Dividends and Capital Gain Tax Worksheet is usually completed when filing taxes. There should be one in your tax return. It will show exactly how this works.
by pshonore
Sat Nov 11, 2017 11:15 am
Forum: Personal Consumer Issues
Topic: Another Smart Phone Thread, Low/Mid priced phones and carriers
Replies: 53
Views: 3303

Re: Another Smart Phone Thread, Low/Mid priced phones and carriers

Republic Wireless has the Moto G5+ (64GB) on sale for $224 and the Moto X for $349 as well as the Huawei Ascend 5W for $49 (was $179). Don't know if those work with other carriers. Republic is $15 month + $5/month for 1 gig of optional data I've been a Republic Wireless customer about 3 years - I h...
by pshonore
Sat Nov 11, 2017 11:11 am
Forum: Investing - Help with Personal Investments
Topic: taxes on selling off photo gear?
Replies: 13
Views: 937

Re: taxes on selling off photo gear?

Surprisingly, it seems like you will owe sales tax for any "casual sales" over $600: https://www.tax.ny.gov/pdf/current_forms/st/st131i.pdf-- whether that's cumulative or per item I'm less clear on. Wow. Ohio doesn't tax casual sales at all. It would never even have occurred to me to check. Since N...
by pshonore
Sat Nov 11, 2017 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance Options
Replies: 8
Views: 859

Re: Long Term Care Insurance Options

My guess is State law requires that option (stop paying and benefit reduced to amount paid in) if they want a rate increase.
by pshonore
Sat Nov 11, 2017 10:36 am
Forum: Personal Consumer Issues
Topic: Another Smart Phone Thread, Low/Mid priced phones and carriers
Replies: 53
Views: 3303

Re: Another Smart Phone Thread, Low/Mid priced phones and carriers

Republic Wireless has the Moto G5+ (64GB) on sale for $224 and the Moto X for $349 as well as the Huawei Ascend 5W for $49 (was $179). Don't know if those work with other carriers. Republic is $15 month + $5/month for 1 gig of optional data
by pshonore
Fri Nov 10, 2017 1:53 pm
Forum: Investing - Theory, News & General
Topic: [Yahoo Finance no longer works - Alternatives to download securities quotes]
Replies: 242
Views: 19296

Re: How to Get Stock Quotes Into Excel

I created a Google sheet with two columns, symbols for my holdings in one column, and the Google Price lookup function (using the adjacent symbol) in the other. I then select the "Price" column, copy it and paste into my Excel sheet in the column where Yahoo prices were. You can do that anytime thro...
by pshonore
Thu Nov 09, 2017 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Scooter insurance for a 20 year old college student
Replies: 22
Views: 1205

Re: Scooter insurance for a 20 year old college student

I think the high liability risk is for passengers on the scooter. What college kid is going to refuse a pretty young lady as a passenger, and just might actively encourage it. :D
by pshonore
Thu Nov 09, 2017 2:26 pm
Forum: Personal Consumer Issues
Topic: How to buy a new car with a trade-in.
Replies: 24
Views: 1501

Re: How to buy a new car with a trade-in.

Recently went through this. Got a Carmax price for my trade. Went to dealer, got a fairly decent price on the new car but they offered $2500 less than Carmax for the trade. No deal there. Also be aware that if you trade, you generally get a credit for the trade in price on sales tax and property tax...
by pshonore
Thu Nov 09, 2017 2:12 pm
Forum: Personal Consumer Issues
Topic: Home backup generator experiences
Replies: 51
Views: 2657

Re: Home backup generator experiences

Interesting - could you use the Leaf to get 220V power (for well pump) My generator feeds a 220 line to my transfer switch (which I guess means it feeds both side of the service panel.)
by pshonore
Thu Nov 09, 2017 1:59 pm
Forum: Personal Consumer Issues
Topic: Home backup generator experiences
Replies: 51
Views: 2657

Re: Home backup generator experiences

After seeing the gas lines after sandy, I liked having the propane option. Propane tanks don't need power to be refilled, vs gas that required electric pumps. I also have plenty of blue rino exchange locations nearby, so I could buy new tanks with cash, no need for electricity. And as a last resort...
by pshonore
Thu Nov 09, 2017 12:53 pm
Forum: Personal Consumer Issues
Topic: Home backup generator experiences
Replies: 51
Views: 2657

Re: Home backup generator experiences

In simple terms, noise, efficiency, and clean power. An inverter generator is much much quieter, and can rev up and down based on electrical demand. The inverter also provided clean safe power for sensitive electronics. An open frame generator is just an engine directly connected to the generator ,...
by pshonore
Thu Nov 09, 2017 12:48 pm
Forum: Personal Consumer Issues
Topic: Home backup generator experiences
Replies: 51
Views: 2657

Re: Home backup generator experiences

Several years ago I bought a 10 "circuit" transfer switch and had it installed for $500 total. Paid $450 for a refurb 6500kW gasoline generator. Spouse told me I was wasting my money on another toy. That tune changed when about 2 years later we were without power for 8 days during one of the Northea...
by pshonore
Thu Nov 09, 2017 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: What do you think of this LTCI policy?
Replies: 10
Views: 388

Re: What do you think of this LTCI policy?

$2400/year (assuming she is 40) sounds kind of high. Spouse and I are paying twice that ($2400 each) for a comparable policy and we're in our 70s. I think the difference here is that under the proposed policy, the policy is fully paid up at age 65 with no further premiums... What age were you when ...
by pshonore
Thu Nov 09, 2017 11:30 am
Forum: Personal Finance (Not Investing)
Topic: What do you think of this LTCI policy?
Replies: 10
Views: 388

Re: What do you think of this LTCI policy?

$2400/year (assuming she is 40) sounds kind of high. Spouse and I are paying twice that ($2400 each) for a comparable policy and we're in our 70s.
by pshonore
Thu Nov 09, 2017 9:04 am
Forum: Personal Consumer Issues
Topic: Pricing a home addition
Replies: 7
Views: 700

Re: Pricing a home addition

The easiest way to do this is to act as your own General Contractor. To do that, you need to have detailed construction knowledge, a lot of time to coordinate other people (the subs) and probably most important a very detailed set of construction drawings. If you don't have all of those skills, then...
by pshonore
Wed Nov 01, 2017 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: Ever make sense to lease?
Replies: 84
Views: 5373

Re: New Car: Ever make sense to lease?

From a financial perspective leasing NEVER makes sense. 1) Leases are based on projected/estimated miles. If you drive less miles, you do not get credit and the leasing company comes out ahead. If you exceed the miles allowed, you get whacked with extra mileage penalties. Some lessors may cut you s...
by pshonore
Wed Nov 01, 2017 1:24 pm
Forum: Personal Consumer Issues
Topic: Outback Vs Forester Vs CR-V ??
Replies: 58
Views: 5210

Re: Outback Vs Forester Vs CR-V ??

I have no idea why Subaru is considered reliable. They have major engine issues and I don’t see that being fixed with the new cars. I’d go Honda over Subaru any day. From my experience, it is because Subaru owners are willing to put up with a lot of screw ups. I own a 2015 Outback. I will never buy...
by pshonore
Wed Nov 01, 2017 11:01 am
Forum: Investing - Help with Personal Investments
Topic: First RMD withdrawal - Now or next year?
Replies: 11
Views: 887

Re: First RMD withdrawal - Now or next year?

Note you can also take part of the 2017 RMD in 2017 and delay the remainder until 4/1/18, if the makes sense tax wise, etc.
by pshonore
Wed Nov 01, 2017 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Limit Owner Use of Rental Home to Two Weeks?
Replies: 18
Views: 2462

Re: Limit Owner Use of Rental Home to Two Weeks?

I thought if the owner rented it to someone else for less than 15 days, there are no tax consequences. You're obviously way over that
by pshonore
Wed Nov 01, 2017 9:45 am
Forum: Personal Consumer Issues
Topic: Robot vacuum for pet hair and hardwood floor
Replies: 21
Views: 1270

Re: Robot vacuum for pet hair and hardwood floor

The breed of dog makes a difference! Short haired dogs like Pointers and Labs have hair that will "stick" to any cloth surface (rugs, carpets, clothes, etc). Long haired dogs (Irish Setters as an example) have silky hair that is much easier to deal with. Our Roomba seems to work ok with either on a ...
by pshonore
Sat Oct 28, 2017 4:29 pm
Forum: Investing - Help with Personal Investments
Topic: Inherited Ira - Help re: RMD from and ETF
Replies: 5
Views: 385

Re: Inherited Ira - Help re: RMD from and ETF

Greetings all, I've been here for many years, but had to rejoin with a new password a while back. I have several questions, but just one for today and my entire portfolio "context" is not needed for this. So, here goes. I have a non-spousal inherited IRA ($70k) with 5 holdings - 3 mutual funds & 2 ...
by pshonore
Sat Oct 28, 2017 11:30 am
Forum: Investing - Theory, News & General
Topic: Roth IRA for children
Replies: 38
Views: 2588

Re: ROTH IRA for children

Stealthrabbitt, How did the kids have earned income with a W2? Please clue me in. They filed income on my 1040, Up to $14k iirc... 1) we had rental props they worked on 2) farm income / 4-H 3) working for neighbors 4) their own businesses (very common for home schoolers) ez to do with eBay / farmer...
by pshonore
Sat Oct 28, 2017 11:02 am
Forum: Investing - Help with Personal Investments
Topic: Setting up a Trust Account
Replies: 6
Views: 623

Re: Setting up a Trust Account

Here are my main goals of having this trust are: 2) If I gift stocks to the trust which is totally independent then the trust can sell the stocks once the company goes public rather than waiting for 6-18 months of the lock-in period. This will diversify the risk and will make sure I am not gambling...
by pshonore
Thu Oct 26, 2017 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Insurance company will not process policy due to "unknown" cause of death
Replies: 14
Views: 2358

Re: Insurance company will not process policy due to "unknown" cause of death

There's a local case going on right now. A woman died from a gunshot wound and her husband has been arrested for murder. The husband filed a claim (prior to his arrest) and the insurance company refused to pay her husband the death benefit. They will certainly pay it eventually but it will probably ...
by pshonore
Sat Oct 21, 2017 3:01 pm
Forum: Investing - Help with Personal Investments
Topic: Funding an IRA for children.
Replies: 17
Views: 869

Re: Funding an IRA for children.

Read my reply again. There are different limits for filing of W-2, withholding FICA and make FUTA payments. If a household employee receives : Wages < $600 no W-2 is required, no FICA is withheld and no FUTA payments are required. Wages >= $600 and < $2,000, a W-2 is required, no FICA is withheld a...
by pshonore
Fri Oct 20, 2017 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Income Taxes & the Gig Economy
Replies: 7
Views: 661

Re: Income Taxes & the Gig Economy

goingup wrote:
Fri Oct 20, 2017 7:41 am
I wouldn't think she'd have to file a return. The threshold of income for 2016 was over $10K. You can google the IRS publications regarding this.
Generally speaking, a person who has more than $400 of self employed income is required to file a return and pay SS tax.
by pshonore
Tue Oct 17, 2017 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Protecting modest assets (house/IRA) from Medicaid/taxes
Replies: 9
Views: 723

Re: Protecting modest assets (house/IRA) from Medicaid/taxes

I would think Mom would have to spend down the 550K in the IRA before qualifying for Medicaid but only a Elder Care lawyer in your state can tell you for sure.
by pshonore
Tue Oct 17, 2017 11:09 am
Forum: Investing - Theory, News & General
Topic: State Tax Avoidance with 529 Rollover
Replies: 4
Views: 483

Re: State Tax Avoidance with 529 Rollover

I live in CT which does not recapture State Income Tax on 529 Rollovers, meaning I can take the State Tax deduction on 529 contributions and then roll it over to some other states plan and not pay anything back to CT. (There are several states which allow this) After I roll over to another states p...
by pshonore
Mon Oct 16, 2017 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard's federal ID number for 1099R that hasn't arrived yet
Replies: 6
Views: 466

Re: Vanguard's federal ID number for 1099R that hasn't arrived yet

I don't think Form 1040 needs their tax ID number. Maybe the software wants it, but I don't think the software will submit the number with your tax return, will it? Contact your tax software customer support. E-filed returns require valid EIN numbers. Mails in do not, but you should attach the 1099...
by pshonore
Mon Oct 16, 2017 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Death Benefits
Replies: 5
Views: 784

Re: Social Security Death Benefits

Although this might not be the best thread for noting this point, parents who are at the social security eligible age and who still have children under age 18 can file and suspend (I believe) and have the children collect benefits as a minor child until the child turns 18. This is not a very preval...
by pshonore
Mon Oct 16, 2017 8:00 am
Forum: Personal Finance (Not Investing)
Topic: [Social Security announces 2.0% benefit increase for 2018]
Replies: 26
Views: 3350

Re: [Social Security announces 2.0% benefit increase for 2018]

By the way the rates for 2018 for Medicare are available at the site "Medicare.gov". Just as an aside Medicare Premiums are also taxable for those with enough MAGI to make them so. (I send 25% of my GROSS SS Benefits back to the government each year). Just checked medicare.gov - all I see are 2017 ...
by pshonore
Mon Oct 16, 2017 7:46 am
Forum: Personal Consumer Issues
Topic: Calculating max electrical load of your home
Replies: 34
Views: 2198

Re: Calculating max electrical load of your home

Also, some devices require larger amounts current to start. I believe most capacitor motors are like that , so think refrigerator, AC Compressor, well pump, etc. They may draw 50% more than the rated current for a very short time (seconds). Of course the system is designed to handle that. That can a...
by pshonore
Sun Oct 15, 2017 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Annuities - how does insurance company know you died?
Replies: 49
Views: 2900

Re: Annuities - how does insurance company know you died?

mptfan wrote:
Sun Oct 15, 2017 8:51 am

So, in my grandma Sue example, she did not commit fraud because she did not commit a deceptive act, and she did not form the intent to deceive.
Agree, Grandma Sue has dementia but does she have a Conservator/Guardian, etc? Who is responsible for her finances?
by pshonore
Sat Oct 14, 2017 10:42 am
Forum: Personal Finance (Not Investing)
Topic: [Social Security announces 2.0% benefit increase for 2018]
Replies: 26
Views: 3350

Re: Social Security announces 2.0% benefit increase for 2018

My net SS check after Medicare goes down from year to year... My understanding is that people already enrolled in SS and Medicare are held harmless and exempt from Medicare increases when the SS cost of living does not increase. The increases are paid by Medicare recipients not held harmless. Did y...
by pshonore
Sat Oct 14, 2017 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Annuities - how does insurance company know you died?
Replies: 49
Views: 2900

Re: Annuities - how does insurance company know you died?

Someone still has to report the death (including to SS) and its usually next of kin. Where does that requirement come from? And to whom is the report required? And what if the person was not receiving social security payments, is there any requirement that their death be reported to social security...
by pshonore
Sat Oct 14, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversions...did I miss the boat?
Replies: 8
Views: 1734

Re: Roth conversions...did I miss the boat?

I could be mistaken but I don't think Roth conversions were to available to high income folks during the financial crisis. I think that didn't happen until 2010.
by pshonore
Sat Oct 14, 2017 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Annuities - how does insurance company know you died?
Replies: 49
Views: 2900

Re: Annuities - how does insurance company know you died?

I'm sure there are many deaths where funeral directors do not get involved (drowning with no recovery, body donated to medical school, etc). Someone still has to report the death (including to SS) and its usually next of kin.
by pshonore
Sat Oct 14, 2017 8:53 am
Forum: Personal Finance (Not Investing)
Topic: [Social Security announces 2.0% benefit increase for 2018]
Replies: 26
Views: 3350

Re: Social Security announces 2.0% benefit increase for 2018

My net SS check after Medicare goes down from year to year... My understanding is that people already enrolled in SS and Medicare are held harmless and exempt from Medicare increases when the SS cost of living does not increase. The increases are paid by Medicare recipients not held harmless. Did y...
by pshonore
Fri Oct 13, 2017 1:27 pm
Forum: Investing - Help with Personal Investments
Topic: pay taxes from long term gains on a taxable account
Replies: 18
Views: 1401

Re: pay taxes from long term gains on a taxable account

1040-ES is very easy to use. It can be done online , only a couple pages with minimal info. The other option is to increase withholding on your W4. Don't forget state taxes if that's an issue for you too. ok! wow! I walked through the steps.. and does look easy! thanks! since I only made this money...
by pshonore
Fri Oct 13, 2017 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Intentionally Defective Grantor Trust to avoid estate tax limit?
Replies: 20
Views: 1717

Re: Trust to avoid estate tax limit?

Trusts aren't cheap to set up and keep running. Should be no costs to keep running. If you need to make changes you would amend it the same as if you have a will but no costs to having a trust. [OT comment removed by admin LadyGeek] Also, trusts are not expensive compared to the money they save peo...
by pshonore
Fri Oct 13, 2017 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Itemized Tax Deductions
Replies: 10
Views: 631

Re: Itemized Tax Deductions

Unreimbursed employee expenses generally refers to W2 employees who have business expenses for which they are not reimbursed by their employer. Examples would be vehicle expenses for a car used for business purposes or a home office. It becomes an itemized deduction subject to a floor of 2% of AGI
by pshonore
Fri Oct 13, 2017 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Setting Beneficiary vs. Revocable Trust (probate)
Replies: 4
Views: 392

Re: Setting Beneficiary vs. Revocable Trust (probate)

Note that in some states (like Connecticut) all assets (including POD designations and RLT assets) are subject to probate "fees" so the savings is less than one thinks. The Probate Court does not get involved in the asset distribution but they do, in effect, collect taxes on them.
by pshonore
Fri Oct 13, 2017 7:32 am
Forum: Personal Finance (Not Investing)
Topic: 2018 SS COLA contest
Replies: 7
Views: 816

Re: 2018 SS COLA contest

My guess for the Social Security COLA for 2018 is 2.0% The September CPI that was released today is 240.939 That make the three month (Jul Aug Sept) average 239.668 compared to 235.057 for the same period last year. Won't do much for the average SS recipient whose monthly benefit is $1355. Most, if ...
by pshonore
Thu Oct 12, 2017 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: HSA and adult child
Replies: 3
Views: 307

Re: HSA and adult child

Perhaps I have a reading comprehension problem but it seems to me he could have claimed her as a qualifying relative EXCEPT she made too much money. Had she not had the income or if it was less than $4050, he could have claimed her. Does she not meet the other tests? Of course if he claims her medic...