Search found 6315 matches

by pshonore
Tue Jun 19, 2018 12:39 pm
Forum: Personal Consumer Issues
Topic: golf/restaurants near mohegan sun casino
Replies: 8
Views: 387

Re: golf/restaurants near mohegan sun casino

There are restaurants for every taste and wallet right in Foxwoods. Mohegan Sun is about 5-10 miles away. They tell me Fox Hopyard in East Haddam is a great golf course (but not cheap). Mystic Seaport is a fun place to visit, USS Nautilis (first nuclear sub) close by also at the USN Sub Base
by pshonore
Sat Jun 16, 2018 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Job in MA, live in MA, RI, or CT?
Replies: 66
Views: 2533

Re: Job in MA, live in MA, RI, or CT?

You also have to be very careful due to the issues with foundations in CT. Years ago poorly made concrete is causing houses to be made unlivable due to them crumbling. Great point. Fortunately, my home was built in 1956 and is not affected. Here's more info: https://www.nytimes.com/2016/06/08/nyreg...
by pshonore
Fri Jun 15, 2018 7:40 pm
Forum: Personal Consumer Issues
Topic: Private Sale test drive
Replies: 13
Views: 1190

Re: Private Sale test drive

I sold my truck in a private sale a few years back. I asked the buyer if I could see his driver's license and proof of insurance. If they are legitimately interested, then they should have no problem with this request. In addition, I asked him if he would permit me to photocopy both before he could...
by pshonore
Fri Jun 15, 2018 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Job in MA, live in MA, RI, or CT?
Replies: 66
Views: 2533

Re: Job in MA, live in MA, RI, or CT?

It doesn't matter to the OP right now, I'm guessing, but both CT and RI tax SS income. MA does not... CT taxes SS at at max of 25% but a lot of folks are exempt. Starting in TY 2019 for single filers <75K and MFJ <100K; no tax on SS and 14% of pensions, annuities, etc is deductible from AGI for CT ...
by pshonore
Fri Jun 15, 2018 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Job in MA, live in MA, RI, or CT?
Replies: 66
Views: 2533

Re: Job in MA, live in MA, RI, or CT?

OP Here, Job is south of worcestar by about 20 minutes. I'm totally unfamiliar with the area, so any comments about places to look at will be welcome. Pomfret and Woodstock (both in CT and not from Worcester) are two very nice scenic but rural towns. That's called the Quiet Corner of CT and the las...
by pshonore
Fri Jun 15, 2018 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Job in MA, live in MA, RI, or CT?
Replies: 66
Views: 2533

Re: Job in MA, live in MA, RI, or CT?

As a lifelong CT resident, Connecticut has high taxes and cost of living is generally expensive. Without going into politics, the state and its capital city are both in a difficult financial situation and everything is poised to continue getting worse -- the state cannot balance its budget and Hart...
by pshonore
Fri Jun 15, 2018 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Job in MA, live in MA, RI, or CT?
Replies: 66
Views: 2533

Re: Job in MA, live in MA, RI, or CT?

Lived in MA, in my opinion there is no part of MA that is commutable from NH, RI and CT where you will also retain your sanity, particularly in the winter. People do it, I don't recommend it. This is correct. Winter weather and overloaded infrastructure make living near your place of employment hig...
by pshonore
Fri Jun 15, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Taxation for free-lancers
Replies: 23
Views: 1821

Re: Taxation for free-lancers

Hi BHers, DW would be starting a freelancing job that will potentially pay her $1000 or more a month. We are married filing jointly. I had a couple of questions that it would be great if you could a answer: 1. Can my wife continue to file a joint return with me? Or does it make sense to file separa...
by pshonore
Fri Jun 15, 2018 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Is anyone familiar with Connecticut Gift and Estate Tax rules? my son) tax rules?
Replies: 11
Views: 682

Re: Is anyone familiar with Connecticut Gift and Estate Tax rules? my son) tax rules?

Bsteiner, This was extremely helpful due to numerical nature of your explanation, thanks. Here is the plan: I will gift $2.6 Million to my son now. I don't want him to deal with this stuff when I am gone. He will not be in a good state of mind. Yes, he will pay taxes on the stock gains eventually, ...
by pshonore
Fri Jun 15, 2018 9:41 am
Forum: Personal Consumer Issues
Topic: Subaru EyeSight windshield insurance
Replies: 14
Views: 1537

Re: Subaru EyeSight windshield insurance

I do have comprehensive and just discussed all this with my insurance rep. I have $1,000 deductible even on windshield / glass and changing deductible to $100 would almost cost as much as separate zero-deductible windshield insurance over 5 years term. Of course, separate insurance price is negotia...
by pshonore
Wed Jun 13, 2018 11:57 am
Forum: Investing - Help with Personal Investments
Topic: SEP Contributions for Sole Proprietorship
Replies: 5
Views: 276

Re: SEP Contributions for Sole Proprietorship

Limit is 20% of (net business income after any expenses, adjusted by 1/2 of SE resulting from the business)

No to the normal work income.
by pshonore
Tue Jun 12, 2018 3:06 pm
Forum: Personal Consumer Issues
Topic: For Sale By Owner (FSBO) purchase - how much discount can I expect?
Replies: 22
Views: 1607

Re: For Sale By Owner (FSBO) purchase - how much discount can I expect?

Not sure I understand how realtor's commission works. If there is a seller's agent and a buyer's agent they would split the commission (eg. 6%)? But if there is only a seller's agent, would there just be the commission to the seller's agent of half (e.g. 3%) or does the whole commission go to the s...
by pshonore
Tue Jun 12, 2018 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Taxation for free-lancers
Replies: 23
Views: 1821

Re: Taxation for free-lancers

1. Yes, you can continue to file MFJ. I would still run the numbers both ways to see which way (MFJ or MFS) is optimal. 2. I would say it depends on the type of work she'll be doing. If she's doing provide services where liability may be an issue, it's probably better to create a business entity an...
by pshonore
Tue Jun 12, 2018 2:48 pm
Forum: Investing - Help with Personal Investments
Topic: [Looking for ways to reduce taxes and keep more of my income]
Replies: 91
Views: 8572

Re: Getting killed on taxes - any ideas?

Hello everyone, So here's my situation. My wife and I are in our 30s. We got a late start earning because we both went to graduate school. We still have student loan debt but are aggressively paying that off and it should be done in the next year. We are maxing our 401ks (she is limited to 10K due ...
by pshonore
Tue Jun 12, 2018 11:44 am
Forum: Personal Consumer Issues
Topic: For Sale By Owner (FSBO) purchase - how much discount can I expect?
Replies: 22
Views: 1607

Re: For Sale By Owner (FSBO) purchase - how much discount can I expect?

Perhaps the asking price has already discounted by 6% (doubtful). No one knows how a FSBO priced the house.
by pshonore
Sun Jun 10, 2018 12:40 pm
Forum: Personal Consumer Issues
Topic: House sale by owner - Problems & Pitfalls?
Replies: 30
Views: 1578

Re: House sale by owner - Problems & Pitfalls?

I think the biggest problem is you have no idea who the "buyer" is or if they're qualified to buy your house or perhaps they're just scamming people or casing your house. And who's going answer all the phone calls, or emails, or answer the door when people show up unannounced? It can be a rough worl...
by pshonore
Fri Jun 08, 2018 9:51 am
Forum: Personal Consumer Issues
Topic: Found an FSBO home for sale. How to avoid Realtor?
Replies: 42
Views: 3349

Re: Found an FSBO home for sale. How to avoid Realtor?

Many county or municipal tax assessor websites show comparable sales for a given address. If not, contact them directly for the info. It’s usually fairly accurate. It won’t be perfect, but likely at least as accurate as a commissioned real estate agent expecting a hefty sales commission. Actually, ...
by pshonore
Fri Jun 08, 2018 8:34 am
Forum: Personal Consumer Issues
Topic: Found an FSBO home for sale. How to avoid Realtor?
Replies: 42
Views: 3349

Re: Found an FSBO home for sale. How to avoid Realtor?

I take it you haven't done many appraisals if you think Zillow is a good source of data other than for sale price. Which is exactly what you'd use it for in this case... Pricing a home is not that difficult a proposition if you've lived in the home a bit and paid even a bit of attention to the loca...
by pshonore
Fri Jun 08, 2018 8:00 am
Forum: Personal Consumer Issues
Topic: Found an FSBO home for sale. How to avoid Realtor?
Replies: 42
Views: 3349

Re: Found an FSBO home for sale. How to avoid Realtor?

Another typical RE thread with lots of opinions by people who have never been Realtors and don't understand the game. Enough of that. One BIG problem of buying from a FSBO is you have no idea how they priced the house. It could be 10% high (or 10% low). I'd seriously consider paying for an appraisa...
by pshonore
Thu Jun 07, 2018 12:52 pm
Forum: Personal Consumer Issues
Topic: Best insurer? Allstate vs chubb vs AAA or others
Replies: 34
Views: 2424

Re: Best insurer? Allstate vs chubb vs AAA or others

Likewise, a ton of people raving about USAA (which is a great company) just do not know enough about the limitations found in its homeowner's policies, or they would think twice about it. So, selecting an insurance company solely based on something like JD Powers' ratings (particularly since some o...
by pshonore
Thu Jun 07, 2018 12:40 pm
Forum: Personal Consumer Issues
Topic: Found an FSBO home for sale. How to avoid Realtor?
Replies: 42
Views: 3349

Re: Found an FSBO home for sale. How to avoid Realtor?

Another typical RE thread with lots of opinions by people who have never been Realtors and don't understand the game. Enough of that. One BIG problem of buying from a FSBO is you have no idea how they priced the house. It could be 10% high (or 10% low). I'd seriously consider paying for an appraisal...
by pshonore
Thu Jun 07, 2018 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: all RMD withholding at YearEnd
Replies: 11
Views: 592

Re: all RMD withholding at YearEnd

I am looking for an IRS publication that explains if taking all of one year's required withholding in the December RMD is good enough for the IRS. Ideally, I would like to take no withholding on anything during the year, then deduct all the year's required federal and state withholding from my Dece...
by pshonore
Thu Jun 07, 2018 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: Adjusting Positions from UTMA
Replies: 8
Views: 417

Re: Adjusting Positions from UTMA

Can we assume these stocks are not paying/reinvesting dividends? Otherwise you have been filing tax returns annually?
by pshonore
Thu Jun 07, 2018 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: IRA realized losses and taxes
Replies: 4
Views: 430

Re: IRA realized losses and taxes

Prior to 2018, it was possible to liquidate all your Roth IRAs, and if the result was a net loss, you could take that as a misc itemized deduction on Sched A subject to a 2% of AGI floor. Tax reform eliminated that option.
by pshonore
Thu Jun 07, 2018 8:38 am
Forum: Investing - Help with Personal Investments
Topic: RMD donations using checks
Replies: 26
Views: 1361

Re: RMD donations using checks

I don't see why you would want to relinquish control over all of this. You won't see if the charity got the check (especially if there's a match that's time sensitive) and you won't know if the charity cashed the check in time to qualify for this year's RMDs. If I were doing this, I'd have the RMD ...
by pshonore
Wed Jun 06, 2018 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Reality Check
Replies: 16
Views: 2346

Re: Social Security - Reality Check

Thanks, soccerrules! I think, under the scenario I outlined, my wife's benefit will be 50% of my PIA ($2000), but I could be mistaken (that's why I asked, of course). Thanks David Jay! I don't think that Mike P. has implemented my suggestion to output the monthly benefit amounts for the optimum & a...
by pshonore
Tue Jun 05, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: SS calculator for estimated amount $ working min years 40 quarters or fixed # of years
Replies: 12
Views: 946

Re: SS calculator for estimated amount $ working min years 40 quarters or fixed # of years

Slightly off topic but has anyone ever heard of this: DW's SS record lists two consecutive years of zero earnings when she worked at a hospital during the 1980s. She actually worked those two years just like all the others. She no longer has the tax returns or payroll stubs for those years and the ...
by pshonore
Tue Jun 05, 2018 10:51 am
Forum: Investing - Help with Personal Investments
Topic: 401a and social security
Replies: 8
Views: 585

Re: 401a and social security

WEP reduces your own SS benefit if you have years of no SS earnings because you worked in a non SS job. If you have 20 years or more of "substantial earnings in an SS job, the effect is reduced and goes away totally if your have 30 yrs of "substantial" earnings with SS. GPO reduces or eliminates the...
by pshonore
Tue Jun 05, 2018 9:40 am
Forum: Investing - Help with Personal Investments
Topic: 401a and social security
Replies: 8
Views: 585

Re: 401a and social security

One needs at least 40 quarters of pay-in to SS to qualify for benefits, so she might not be there quite yet. But a few more job hops and she should be good. And secondly, that 401a pension gets corrected for by SS once you start receiving SS benefits. Google the term Government Pension Offset... Ac...
by pshonore
Tue Jun 05, 2018 9:37 am
Forum: Investing - Help with Personal Investments
Topic: 401a and social security
Replies: 8
Views: 585

Re: 401a and social security

She may run into complications with SS if she works in a job not covered by SS. Specifically, the GPO (Govt pension offset) and the WEP (Windfall elimination provision). Also she needs 40 quarters (10 years of SS contributions) to be eligible for an SS benefit on her earnings.
by pshonore
Mon Jun 04, 2018 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Might one take social security before 70 because you would hit total family benefits earlier?
Replies: 32
Views: 2209

Re: Might one take social security before 70 because you would hit total family benefits earlier?

I was testing Mark Piper's new social security calculator (see below), and it recommended that I take SS six months before I reach 70. I was wondering about why this might be the case, and looking at my SS statement I noticed that there is a "family benefits" cap of $4,774/month. It occurred to me ...
by pshonore
Mon Jun 04, 2018 3:56 pm
Forum: Personal Consumer Issues
Topic: How a credit card refund is applied?
Replies: 25
Views: 1435

Re: How a credit card refund is applied?

My understanding is that the credit does not count toward your payment so you still have to pay $3,000. As others have said, it is best to call the credit card company. However, do you really trust the knowledge of the person that you talk to. You may want to ask them to make a note on your account...
by pshonore
Mon Jun 04, 2018 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: [what to sell for] RMD
Replies: 21
Views: 1385

Re: [what to sell for] RMD

The first withdrawals from your TIRA account are deemed to be RMDs. To minimize taxes, you want the QCDs to be part of that. I thought I understood QCDs, but the above statement confuses me. I am turning 70-1/2 in a few months. I was told that I can take QCDs any time after my half-birthday this ca...
by pshonore
Mon Jun 04, 2018 10:16 am
Forum: Personal Consumer Issues
Topic: Using multiple real estate agents simultaneously
Replies: 9
Views: 761

Re: Using multiple real estate agents simultaneously

Probably not the best idea. No agent when pulling up to a house to show to a prospective buyer wants to hear "We've already seen this with Agent XYZ".
by pshonore
Mon Jun 04, 2018 7:27 am
Forum: Personal Consumer Issues
Topic: How a credit card refund is applied?
Replies: 25
Views: 1435

Re: How a credit card refund is applied?

This , in my experience, seems to be company-related. Most often for me, the credit is applied to the next payment due. However, there is at least one company that makes you pay the full next payment and applies the credit to the next payment after that. Call them.........if you get 2 out of 3 answ...
by pshonore
Sun Jun 03, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Car drove through our home - some questions on insurance and restitution
Replies: 26
Views: 3278

Re: Car drove through our home - some questions on insurance and restitution

Might not the threat to engage an attorney (and the risk of having to pay YOUR attorney fees) incentivize the other side to not nockel and dime you? What about your homeowners insurance company? Can it play a role? Yes, how about OP's HO policy paying under "vandalism" assuming its a covered peril....
by pshonore
Fri Jun 01, 2018 12:18 pm
Forum: Personal Consumer Issues
Topic: Sherwin Williams paint
Replies: 43
Views: 2853

Re: Sherwin Williams paint

Had a problem with peeling exterior paint, actually solid stain (on cedar claps). Hired a professional painter who liked SW "Duration" at $70 gallon. He said he actually didn't like to use it because it lasted so long he never got called back to repaint down the road. He did adequate prep; scraping...
by pshonore
Fri Jun 01, 2018 8:49 am
Forum: Personal Consumer Issues
Topic: Sherwin Williams paint
Replies: 43
Views: 2853

Re: Sherwin Williams paint

Had a problem with peeling exterior paint, actually solid stain (on cedar claps). Hired a professional painter who liked SW "Duration" at $70 gallon. He said he actually didn't like to use it because it lasted so long he never got called back to repaint down the road. He did adequate prep; scraping,...
by pshonore
Thu May 31, 2018 1:38 pm
Forum: Investing - Theory, News & General
Topic: New York Times-Fidelity, Bruised From Crises, Searches for Life After Mutual Funds
Replies: 12
Views: 2265

Re: New York Times-Fidelity, Bruised From Crises, Searches for Life After Mutual Funds

I don't know if people have a lot of ETF choices as opposed to traditional mutual funds in 401Ks, but I'll bet if they did, the outflows from funds would be even greater.
by pshonore
Thu May 31, 2018 10:39 am
Forum: Personal Consumer Issues
Topic: Thoughts on Buying a "Flipped" House?
Replies: 27
Views: 3116

Re: Thoughts on Buying a "Flipped" House?

As one minor point, engineered wood can actually be quite good. Here in FL, for example, everyone recommended it over full hardwood because it resists moisture better (and your feet actually touch real wood). I prefer hardwood myself but certainly agree a good engineered floor should not be a probl...
by pshonore
Tue May 29, 2018 1:06 pm
Forum: Personal Consumer Issues
Topic: Lawyer instead of buyer's real estate agent? Experience anyone?
Replies: 54
Views: 4986

Re: Lawyer instead of buyer's real estate agent. Experience anyone?

I am glad it worked out for you. I am curious, how did you find this house without a realtor? Specifically, did you see the house before making a bid? I ask because there are rules around that (which vary by state I believe). You generally cannot go see a house saying you have no agent and then sho...
by pshonore
Tue May 29, 2018 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Have you ever overpaid your federal income tax bill?
Replies: 17
Views: 1483

Re: Have you ever overpaid your federal income tax bill?

I don't think an amended return would work for me. The return was correct, with the correct amount of tax owed. I goofed by sending two separate checks for the amount owed accidentally. So, there is nothing to amend. Have you gotten your refund yet? What form did you use and how did you send in the...
by pshonore
Tue May 29, 2018 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Selling car in CA, titled in absent owner's name
Replies: 14
Views: 742

Re: Selling car in CA, titled in absent owner's name

I'd call a local CARMAX in NJ and ask them. I'd then verify that with a CARMAX near San Luis Obispo.
by pshonore
Tue May 29, 2018 7:16 am
Forum: Personal Finance (Not Investing)
Topic: Have you ever overpaid your federal income tax bill?
Replies: 17
Views: 1483

Re: Have you ever overpaid your federal income tax bill?

To answer your original question , the IRS keeps track of all payments credited to your SS# and will refund any overage automatically even if you do not enter them on your return.
by pshonore
Mon May 28, 2018 9:25 am
Forum: Investing - Help with Personal Investments
Topic: Tracking Year to Year Carry Over Losses
Replies: 11
Views: 624

Re: Tracking Year to Year Carry Over Losses

What kind of professional tax preparer would prepare a tax return without having seen the previous year's return? Almost everyone I know including myself. Its great to have last year's return (just to compare and note "omissions" if nothing else) but I can state the number of new clients who bring ...
by pshonore
Mon May 28, 2018 8:44 am
Forum: Investing - Help with Personal Investments
Topic: Tracking Year to Year Carry Over Losses
Replies: 11
Views: 624

Re: Tracking Year to Year Carry Over Losses

As Gill stated, the tax software will track the unused portion and apply it to the next tax year. It can also be done by hand on the tax form, but that is a lost art . Dan Note if you change software or preparers, the new software may or may not pick up the the carryover, but any good preparer shou...
by pshonore
Mon May 28, 2018 8:19 am
Forum: Investing - Help with Personal Investments
Topic: Tracking Year to Year Carry Over Losses
Replies: 11
Views: 624

Re: Tracking Year to Year Carry Over Losses

As Gill stated, the tax software will track the unused portion and apply it to the next tax year. It can also be done by hand on the tax form, but that is a lost art . Dan Note if you change software or preparers, the new software may or may not pick up the the carryover, but any good preparer shou...
by pshonore
Sun May 27, 2018 11:49 am
Forum: Personal Consumer Issues
Topic: Remote temperature monitoring
Replies: 22
Views: 1766

Re: Remote temperature monitoring

Check "wifi temperature monitor on Amazon". There are tons of choices starting at $15
by pshonore
Sat May 26, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Minor car accident two years ago. How long till clear record?
Replies: 14
Views: 1413

Re: Minor car accident two years ago. How long till clear record?

I have GEICO and pay ~$31/mo/car for full coverage, including collision. Only one glass claim in the past 3 years. A totally worthless data point without also knowing coverage limits, location, value of cars, etc. Drive carefully. $360 per car per year sounds extremely low. I would guess you have l...
by pshonore
Sat May 26, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: GEICO auto rates vs. USAA: too good to be true?
Replies: 162
Views: 26778

Re: GEICO auto rates vs. USAA: too good to be true?

Price is nice, but SERVICE is important. Price USAA (if you qualify) and AMICA to compare. We've been with AMICA for nearly 40 years and their service cannot be beat. Amen to that. GEICO has a reputation in the industry for cutting corners on claims. Unfortunately unless you know your way around an...