Search found 36 matches

by gokartmozart
Wed Apr 01, 2020 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurers Waiving Treatment Covid Cost - Does this apply if you have a HDHP?
Replies: 15
Views: 886

Re: Health Insurers Waiving Treatment Covid Cost - Does this apply if you have a HDHP?

Be sure of what is being waived. I think many insurers are waiving testing . It would be truly surprising if any are waiving treatment . Treatment in extreme cases could involve two weeks or more in intensive care. https://www.npr.org/sections/health-shots/2020/03/30/824075753/good-news-with-caveat...
by gokartmozart
Wed Apr 01, 2020 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurers Waiving Treatment Covid Cost - Does this apply if you have a HDHP?
Replies: 15
Views: 886

Re: Health Insurers Waiving Treatment Covid Cost - Does this apply if you have a HDHP?

Be sure of what is being waived. I think many insurers are waiving testing. It would be truly surprising if any are waiving treatment. Treatment in extreme cases could involve two weeks or more in intensive care.
by gokartmozart
Mon Mar 16, 2020 2:04 pm
Forum: Personal Investments
Topic: Are BH tax loss harvesting now or waiting?
Replies: 25
Views: 1019

Re: Are BH tax loss harvesting now or waiting?

aln10788 wrote:
Mon Mar 16, 2020 12:54 pm
... Does it matter how long I have held VTSAX to TLH? ...
In general one can TLH after holding any amount of time. But look at the wiki article https://www.bogleheads.org/wiki/Tax_loss_harvesting, especially the section titled "Fine points about tax loss harvesting".
by gokartmozart
Mon Mar 16, 2020 1:44 pm
Forum: Personal Investments
Topic: Tax loss Vang total stock market to what question
Replies: 2
Views: 180

Re: Tax loss Vang total stock market to what question

Here's another wiki article you might find helpful. https://www.bogleheads.org/wiki/Approximating_total_stock_market

You might find direct ideas you can use. If not, it might give you a framework for thinking about the problem.
by gokartmozart
Mon Mar 16, 2020 12:09 am
Forum: Personal Finance (Not Investing)
Topic: small crack in concrete foundation
Replies: 10
Views: 970

Re: small crack in concrete foundation

Some times concrete develops shrinkage cracks. It's not normally considered a fault provided they are not wide or numerous. It is just something concrete does as it cures and ages. If it is a shrinkage crack, the crack formed sometime in the first ten years, give or take, after the foundation was po...
by gokartmozart
Fri Mar 13, 2020 3:47 pm
Forum: Personal Consumer Issues
Topic: Mystery deposit from NYS in checking account
Replies: 8
Views: 1344

Re: Mystery deposit from NYS in checking account

Give it some time. In that interval either DD will suddenly remember why she should be receiving the deposit, or it will become clear what error has occurred. So far this is looking like an erroneous deposit. Perhaps an account number got mixed up. Since DD is not completely sure it is hers, tell DD...
by gokartmozart
Thu Mar 12, 2020 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Useful limit to the carryover total from Tax-Loss Harvesting?
Replies: 4
Views: 422

Re: Useful limit to the carryover total from Tax-Loss Harvesting?

Your carryovers can be deducted against your Roth conversions. Roth conversions are taxed as ordinary income. If you have a $3k loss carryover in a given year, then you could Roth-convert $3k more than otherwise and still be under your chosen AGI or MAGI target threshold.
by gokartmozart
Mon Mar 09, 2020 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Does my MIL have to file taxes?
Replies: 23
Views: 929

Re: Does my MIL have to file taxes?

The IRS has a web page which will ask you a series of questions, and then based on your answers, tell you if you need to file. You will find it here: https://www.irs.gov/help/ita/do-i-need-to-file-a-tax-return.
by gokartmozart
Sat Mar 07, 2020 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Title co. wants Trust probated in CA
Replies: 14
Views: 698

Re: Title co. wants Trust probated in CA

If the property is properly titled in the trust, then the owner listed on the present recorded deed will be something like "Jones Family Trust under agreement 5/19/2018 trustee James I. Shooch". If that is the case, then James I. Shooch and only James I. Shooch should be the person the title company...
by gokartmozart
Fri Feb 28, 2020 12:58 pm
Forum: Investing - Theory, News & General
Topic: The Calm Post - Stay the course thread.
Replies: 511
Views: 45864

Re: The Calm Post - Stay the course thread.

I am seeing a historic learning opportunity. This is a great thing. In the past you've probably read some other posting in some other thread where a member wrote, "I remember the downturn of [year whatever]. What I learned back then was blah blah blah." I you were not an investor in [year whatever] ...
by gokartmozart
Tue Feb 25, 2020 11:53 am
Forum: Personal Finance (Not Investing)
Topic: 1041 Estate - very high tax rate
Replies: 15
Views: 1053

Re: 1041 Estate - very high tax rate

I'd like to explain something that is fundamental to income taxation of estates and trusts. The replies above talked around it but did not spell it out explicitly. Estates are taxed as "pass through" entities. When estates pass their income through to their beneficiaries, they pay little or no tax. ...
by gokartmozart
Wed Feb 12, 2020 1:00 am
Forum: Personal Finance (Not Investing)
Topic: Donor advised fund / donating appreciated shares
Replies: 17
Views: 909

Re: Donor advised fund / donating appreciated shares

I was in your position a few months ago. I wanted to move very specific lots from Vanguard and set up a new DAF at Fidelity Charitable. Here's what I did: 1. Set up a new DAF on the Fidelity Charitable website. Super easy. 5 minutes. It's empty at first and it's okay to stay that way as you work the...
by gokartmozart
Tue Dec 10, 2019 1:37 pm
Forum: Personal Investments
Topic: Any Reason for Multiple Roth IRA Accounts Post-TCJA?
Replies: 12
Views: 691

Re: Any Reason for Multiple Roth IRA Accounts Post-TCJA?

Eagle33 wrote:
Thu Dec 05, 2019 5:02 pm
If one is near end of life, I could see a separate Roth account for each beneficiary, especially if leaving different amounts to each.
Good point Eagle33. That's something I had not considered and seems like a good reason if it applies.
by gokartmozart
Tue Dec 10, 2019 1:33 pm
Forum: Investing - Theory, News & General
Topic: Moving a trust to Vanguard
Replies: 10
Views: 831

Re: Moving a trust to Vanguard

I opened a trust account at Vanguard a few years ago. It was easy. There was the added step of sending in a copy of the trust document so Vanguard could verify I was authorized to act as a trustee. But otherwise it was similar to opening an individual account. Easy. I also had to transfer assets fro...
by gokartmozart
Thu Dec 05, 2019 5:19 pm
Forum: Personal Investments
Topic: Any Reason for Multiple Roth IRA Accounts Post-TCJA?
Replies: 12
Views: 691

Re: Any Reason for Multiple Roth IRA Accounts Post-TCJA?

It’s perfectly fine to have one trad ira that is empty 362 days a year and one Roth account. There have been multiple threads about the value of simplicity vs the safety of multiple brokerages due to the very remote possibility of identity theft and hacking. Early in your career when you have small...
by gokartmozart
Thu Dec 05, 2019 5:16 pm
Forum: Personal Investments
Topic: Any Reason for Multiple Roth IRA Accounts Post-TCJA?
Replies: 12
Views: 691

Re: Any Reason for Multiple Roth IRA Accounts Post-TCJA?

I think that you want to keep conversions from IRA contributions separate from those from employer plan roll-overs. I think that asset protections are better for funds originating in an employer plan. Once the two types are mixed, that benefit is lost. Thank you Svensk Anga, that is something I had...
by gokartmozart
Thu Dec 05, 2019 11:32 am
Forum: Personal Investments
Topic: Any Reason for Multiple Roth IRA Accounts Post-TCJA?
Replies: 12
Views: 691

Any Reason for Multiple Roth IRA Accounts Post-TCJA?

I'm about to do my first Roth IRA Conversion and intend to do more conversions over the next several years. I've been reading up on the process. Forum postings from a few years ago recommended keeping multiple Roth IRA accounts around to receive the converted funds. The authors of those posts wrote ...
by gokartmozart
Tue Jun 18, 2019 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance: Refusal to Disclose Language Before Writing?
Replies: 7
Views: 1078

Re: Umbrella Insurance: Refusal to Disclose Language Before Writing?

Here's a previous thread on this topic. https://www.bogleheads.org/forum/viewtopic.php?t=270031 I was able to work around the insurer's refusal by going to my state insurance commissioner's website. In my state, insurers are required to file policy terms with the commissioner's office (and get appro...
by gokartmozart
Wed May 15, 2019 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Options for Depositing Check for Dissolved Entity
Replies: 4
Views: 532

Re: Options for Depositing Check for Dissolved Entity

You might try depositing it as a third-party check. To make it a third-party check, the dissolved entity's person with authority to sign checks (president, treasurer, general partner, whatever) would endorse it (sign on the back of the check) over to another entity or individual. Then that other ent...
by gokartmozart
Tue Apr 16, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Trust investment choices for a difficult beneficiary
Replies: 115
Views: 8515

Re: Trust investment choices for a difficult beneficiary

... if the beneficiary and his attorney consent to the plan and have him sign a release ... +1 on the release. Get the attorneys on both sides to sign the release too. That makes it harder for the beneficiary to later claim, "Poor unsophisticated me was tricked into signing this release!" The attor...
by gokartmozart
Thu Apr 04, 2019 4:33 pm
Forum: Personal Investments
Topic: Trust management help
Replies: 18
Views: 1826

Re: Trust management help

Can anyone speak to tax free municipal bonds? ... This seems a little too good to be true? I'm sorry I can't answer that directly but perhaps I can point you and your cousin in a helpful direction. It's a rule of thumb that higher-yielding investments carry higher risks. Is that the case here? And ...
by gokartmozart
Wed Apr 03, 2019 12:25 pm
Forum: Personal Investments
Topic: Trust management help
Replies: 18
Views: 1826

Re: Trust management help

Your cousin-buddy sounds like he's going to make a fine trustee: financially sophisticated, diligent, doing his homework. Good news for everyone! :sharebeer One more tip I have for your cousin-buddy is to get ahead of, and stay ahead of, the need to provide trust accountings. Trust accountings are n...
by gokartmozart
Mon Apr 01, 2019 11:56 am
Forum: Personal Investments
Topic: Trust management help
Replies: 18
Views: 1826

Re: Trust management help

Whatever he distributed they should not be giving back to the trust. RickBoglehead, could you clarify what you meant by "should not"? Is it a matter of not legal or not advisable or not reasonable and why. As far as I know it would be legal for a trust to distribute income to a beneficiary, then th...
by gokartmozart
Mon Apr 01, 2019 11:46 am
Forum: Personal Investments
Topic: Trust management help
Replies: 18
Views: 1826

Re: Trust management help

Sorry I was composing my previous reply when you posted more information so my previous reply was a little off target in places. Taxation of trusts is much, much steeper than that of individuals. Compare the tax tables in the instructions for Form 1041 with the same in Form 1040. Look up the tax tha...
by gokartmozart
Mon Apr 01, 2019 11:26 am
Forum: Personal Investments
Topic: Trust management help
Replies: 18
Views: 1826

Re: Trust management help

The first place to start is to read the trust instrument (document) very carefully. I am assuming your cousin is named as the trustee in the trust instrument. You write that "the money won't be needed to live off of" but it is quite common for trust instruments to specify that trust income must be p...
by gokartmozart
Sun Mar 31, 2019 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: do I have to pay 110% taxes on lower 2019 income based on higher 2018 income?
Replies: 7
Views: 691

Re: do I have to pay 110% taxes on lower 2019 income based on higher 2018 income?

From the Original Post, which was quoting some IRS instructions: Caution: Generally, if you do not prepay at least the amount on line 12c, you may owe a penalty for not paying enough estimated tax……. The word "prepay" in the quote above refers to the total of 2019 withholding plus 2019 estimated tax...
by gokartmozart
Sat Mar 30, 2019 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Mysterious SSA deposit in my Vanguard Account
Replies: 4
Views: 789

Re: Mysterious SSA deposit in my Vanguard Account

You did not mention if you have already contacted SSA. Perhaps try that?

$816 is a plausible Social Security monthly benefit. Perhaps someone tried to direct-deposit their SS check to their Vanguard account and the account number got mixed-up by them or by Vanguard.
by gokartmozart
Mon Mar 25, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: IRS to lower 2018 safe harbor withholding threshold to 85% [2018 only]
Replies: 30
Views: 4450

Re: IRS to lower 2018 safe harbor withholding threshold to 85% [2018 only]

And today, the IRS lowered the threshold further to 80%, again for 2018 only. New instructions for Form 2210 will be forthcoming. (Those who have already filed may file Form 843 with the statement "80% Waiver of estimated tax penalty" on line 7.) I agree with TexTaxToo. The waiver is now 80% down f...
by gokartmozart
Sat Mar 23, 2019 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: IRS notice 3/22/2019: for 2018 taxes, no penalty if 80% of tax shown on return was withheld or est taxes paid
Replies: 13
Views: 2464

Re: IRS notice 3/22/2019: for 2018 taxes, no penalty if 80% of tax shown on return was withheld or est taxes paid

Thank you! I paid 83% which means I meet this new 80% threshold but did not meet the previous 85% one. Since I filed a couple of weeks ago, I will now file Form 843 to get the refund.

Another official IRS description, besides the press release linked in the OP, is Notice 2019-25.
by gokartmozart
Fri Mar 22, 2019 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 Foreign Tax Credit: Adjustment Exception for Trusts & Estates?
Replies: 1
Views: 385

2018 Foreign Tax Credit: Adjustment Exception for Trusts & Estates?

I've done a ton of Googling on this without success. I'm hoping some Boglehead might have an answer or provide a lead I can follow. I am preparing 2018 federal tax returns for a couple of small family trusts. They owned international stock index funds which paid foreign taxes. The foreign taxes were...
by gokartmozart
Mon Feb 25, 2019 12:18 am
Forum: Personal Consumer Issues
Topic: Friday Harbor to SeaTac Airport
Replies: 19
Views: 1169

Re: Friday Harbor to SeaTac Airport

Suggestion 1: Would Bellingham airport (BLI) be an option for you? It is about the same driving distance from Anacortes as is Paine Field (PAE) and traffic to BLI would likely be even smoother than to PAE. BLI (like PAE) has limited flights compared to a "major" airport. Put BLI and your home airpo...
by gokartmozart
Wed Feb 20, 2019 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Direct Pay
Replies: 26
Views: 2379

Re: IRS Direct Pay

My USAA Preferred Cash Rewards card has a short list of items which do not earn rewards. Tax payments do not earn rewards with this card. :annoyed

Moral: Read your fine print before using a rewards card to earn rewards on your tax payment.
by gokartmozart
Thu Feb 14, 2019 11:52 am
Forum: Personal Finance (Not Investing)
Topic: How to handle sub 50 cent wash sales reported on 1099-B?
Replies: 3
Views: 528

Re: How to handle sub 50 cent wash sales reported on 1099-B?

I would not be concerned too much about amounts "disappearing" in the process of rounding, if the IRS rounding rules are scrupulously followed. The rules are the rules after all. I definitely would not round amounts under $0.50 up as you suggested in your solution 2. That directly violates the IRS r...
by gokartmozart
Mon Feb 11, 2019 7:15 pm
Forum: Personal Consumer Issues
Topic: Electrician broke ceiling heat and won't fix it
Replies: 16
Views: 3563

Re: Electrician broke ceiling heat and won't fix it

I have experienced Cadet heaters and they have a well-deserved reputation for being noisy. They are noisy because they have a circulating fan. Your radiant heat is not noisy. The Cadet sales page in the link above attempts to claim they are now "quieter". The manufacturer knows they are noisy and is...
by gokartmozart
Thu Jan 17, 2019 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Umbrella Written Policy Terms in Advance of Buying Policy
Replies: 6
Views: 657

Re: Getting Umbrella Written Policy Terms in Advance of Buying Policy

In the couple of hours since I posted my questions above, I have come up with a partial solution. Maybe this could help someone else. Insurance is highly regulated at the state level. In my state, state law requires insurance companies to file with the state regulator the detailed terms of standard ...
by gokartmozart
Thu Jan 17, 2019 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Umbrella Written Policy Terms in Advance of Buying Policy
Replies: 6
Views: 657

Getting Umbrella Written Policy Terms in Advance of Buying Policy

I'm doing some researching and shopping for my first-ever umbrella insurance. I like the approach of Jack Hungelmann, author of Insurance for Dummies (and some nice umbrella-shopping articles you can find at the bottom of https://www.irmi.com/biographies/jack-hungelmann ). Hungelmann advocates looki...