Search found 37 matches

by JD Leonard
Mon Dec 02, 2019 2:24 am
Forum: Personal Finance (Not Investing)
Topic: Amex cost to restaurant
Replies: 41
Views: 4305

Re: Amex cost to restaurant

I am involved in a business in the credit card processing space and have written algorithms to calculate the cost of any given transaction. Some of the answers here are incorrect. The cost to a business of accepting a given card for a given transaction may depend on *many* factors. The largest facto...
by JD Leonard
Sun Nov 17, 2019 12:56 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity CMA and paying for a Condo.
Replies: 7
Views: 558

Re: Fidelity CMA and paying for a Condo.

It's pretty straightforward to do a free wire transfer from a Fidelity CMA. Give them a call for the specifics.
by JD Leonard
Sun Nov 10, 2019 2:46 am
Forum: Personal Consumer Issues
Topic: recommendation request for cell data service and device
Replies: 9
Views: 923

Re: recommendation request for cell data service and device

Google Fi's pricing model is well suited to your usage.
by JD Leonard
Wed Oct 16, 2019 1:33 am
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 80
Views: 11523

Re: Primer on Paying Taxes With a Credit Card

Is there any downside to changing from withholding and paying monthly or quarterly the same amount with a charge card? Or overpaying a bit, just in case? We can also add more to even it up at the end of the year, by withholding everything from the RMD's (which is NOT much until retirement when the ...
by JD Leonard
Fri Oct 11, 2019 2:34 am
Forum: Investing - Theory, News & General
Topic: 529 and FIRE
Replies: 29
Views: 3297

Re: 529 and FIRE

There's some insightful discussion in this thread that you may find helpful: viewtopic.php?f=1&t=291982
by JD Leonard
Fri Oct 11, 2019 1:22 am
Forum: Investing - Theory, News & General
Topic: 529 and FIRE
Replies: 29
Views: 3297

Re: 529 and FIRE

It sounds like 529s may make more sense than taxable for you.

Does your state offer a tax deduction for contributions to your state's 529? It may be advantageous to maximize any deductible contribution for a number of years rather than maximizing contributions on the front end.
by JD Leonard
Fri Oct 11, 2019 1:14 am
Forum: Personal Investments
Topic: [Need help - Safe place to put $125k?]
Replies: 30
Views: 2373

Re: [Need help - Safe place to put $125k?]

My best advice is to not rush into any decision. There's no rush. Take some time to research the topics being mentioned here and to ask more questions. It sounds like this person may not be particularly computer literate. There could be significant value for them in banking in person at a brick and ...
by JD Leonard
Fri Oct 11, 2019 12:32 am
Forum: Personal Finance (Not Investing)
Topic: Need help !!! US or Canadian universities?
Replies: 56
Views: 3565

Re: Need help !!! US or Canadian universities?

Per https://financialaid.rice.edu/thericeinvestment Beginning in fall 2019 under The Rice Investment, middle-income families with typical assets will receive grant aid to cover full tuition if they earn up to $130,000 per year, and half tuition for families earning between $130,001-$200,000. In addi...
by JD Leonard
Tue Oct 08, 2019 1:16 am
Forum: Personal Finance (Not Investing)
Topic: Can parent fund child's HSA without estate tax consequences?
Replies: 5
Views: 532

Re: Can parent fund child's HSA without estate tax consequences?

I'm not certain, but I've never heard of an HSA-specific exclusion. I believe that a parent funding a child's HSA would have the same estate/gift tax consequences as the parent writing a check to the child.
by JD Leonard
Tue Aug 20, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Megabackdoor Roth IRA double check
Replies: 24
Views: 1551

Re: Megabackdoor Roth IRA double check

If allowed, in service (in plan) after tax to Roth conversions in your ML 401k would be more convenient than dealing with paper checks. However, what do fees look like in your ML 401k vs. Fidelity Roth IRA? That could make the decision for you. On the flip side, there are asset protection advantages...
by JD Leonard
Sat Aug 17, 2019 1:39 am
Forum: Personal Consumer Issues
Topic: Best secure email to use instead of gmail?
Replies: 70
Views: 10025

Re: Best secure email to use instead of gmail?

OP, what specifically are your concerns with Gmail? What's the worst case scenario you're looking to avoid? Perhaps there is a solution that doesn't require the hassle of switching from the most popular email service. Also consider the likelihood of Gmail continuing to exist X years in the future ve...
by JD Leonard
Mon Jul 22, 2019 11:53 pm
Forum: Personal Consumer Issues
Topic: Visit Taipei, Taiwan or tour smaller towns in Japan?
Replies: 33
Views: 2728

Re: Visit Taipei, Taiwan or tour smaller towns in Japan?

I lived in Taipei for six months. It's fantastic. You won't regret visiting!
by JD Leonard
Thu Jul 18, 2019 11:24 pm
Forum: Personal Investments
Topic: 2.5 million to invest for myself[35] and father[70]
Replies: 43
Views: 4215

Re: 2.5 million to invest for myself[35] and father[70]

Chances are high we'll be under the estate tax limit. If there is a chance that your dad will not be under the estate tax limit (the biggest risk might be future changes in legislation!), it might make sense for him to start gifting you the annual gift tax exempt amount ($15k) each year to reduce t...
by JD Leonard
Tue Jul 09, 2019 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Having second thoughts about Personal Capital
Replies: 30
Views: 3376

Re: Having second thoughts about Personal Capital

I think that many aggregators (when supported by your financial institutions' technology) use your username and password only once, when you first link an account, and receive an access token that allows the aggregator limited access to your account thereafter. Financial institutions are increasing...
by JD Leonard
Tue Jul 09, 2019 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Having second thoughts about Personal Capital
Replies: 30
Views: 3376

Re: Having second thoughts about Personal Capital

I think that many aggregators (when supported by your financial institutions' technology) use your username and password only once, when you first link an account, and receive an access token that allows the aggregator limited access to your account thereafter. Financial institutions are increasingl...
by JD Leonard
Mon Jul 08, 2019 11:31 pm
Forum: Personal Consumer Issues
Topic: Travelling through the EU?
Replies: 21
Views: 1846

Re: Travelling through the EU?

You will go through Schengen area immigration (not customs) upon landing in Germany. Your next flight will be an intra-Schengen flight. You will go through customs upon collecting all of your bags at final destination, but it will likely be nearly invisible to you unless they are inspecting every c...
by JD Leonard
Mon Jul 08, 2019 10:59 pm
Forum: Personal Investments
Topic: SIMPLE IRA - Transfer of Funds from Edward Jones to Fidelity (Send help!)
Replies: 70
Views: 6047

Re: SIMPLE IRA - Transfer of Funds from Edward Jones to Fidelity (Send help!)

What are the terms of the company match?

What $ amount would you gain from jumping through the hoops?

Is there a vesting schedule?
by JD Leonard
Mon Jul 08, 2019 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to obtain contracted rates for medical procedures?
Replies: 97
Views: 4525

Re: How to obtain contracted rates for medical procedures?

My health insurance provider, Cigna, has a cost estimator on its website that I've found helpful. It won't give you an exact number, but the estimates seem to be based on real data.
by JD Leonard
Mon Jul 08, 2019 1:03 am
Forum: Personal Finance (Not Investing)
Topic: Potential opportunity in Germany - Needs relocation from US
Replies: 6
Views: 1012

Re: Potential opportunity in Germany - Needs relocation from US

Congrats on considering a new adventure abroad! My wife and I temporarily moved to Germany for her job (she was delegated). We had previously temporarily lived in Taiwan so Germany was much less of a culture shock. We loved both experiences. One of the most useful resources for learning about being ...
by JD Leonard
Sun Jul 07, 2019 12:04 am
Forum: Personal Investments
Topic: To solo 401k or ...
Replies: 10
Views: 1041

Re: To solo 401k or ...

Do you have 30k annual business expenses regardless of how much you work for the business?

We don't have enough knowledge about your business to offer relevant advice, but might the easiest approach be to wind down the business and save $30k/year (minus whatever the loss saves you in taxes)?
by JD Leonard
Sun Jun 16, 2019 12:20 am
Forum: Personal Investments
Topic: FIRST POST - Portfolio Review - Please
Replies: 37
Views: 4203

Re: FIRST POST - Portfolio Review - Please

Is it possible for you to have insight into your wife's level of assets and asset allocation? Knowing this would allow you to adjust your asset allocation such that the asset allocation of you+wife is closer to your target allocation for you as a couple. For example, is she overweight in large cap d...
by JD Leonard
Sat Jun 15, 2019 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Chase "You Invest" balance count for checking fees?
Replies: 7
Views: 943

Re: Chase "You Invest" balance count for checking fees?

Call them. I bet they'll waive the fee for you.
by JD Leonard
Sat Jun 15, 2019 10:42 am
Forum: Personal Consumer Issues
Topic: Should I rent a car in Croatia? And other recommendations?
Replies: 11
Views: 953

Re: Should I rent a car in Croatia? And other recommendations?

You should absolutely rent a car for the sole purpose of seeing Plitvice Lakes National Park, which is one of the top two places for natural beauty to which I have traveled (the other being the Dolomites). The rest of Croatia is nice, but don't miss this stop!
by JD Leonard
Sat Jun 01, 2019 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Is an S Corp right for me?
Replies: 9
Views: 736

Re: Is an S Corp right for me?

It sounds like S-Corp tax treatment will make sense for you. Forming an LLC in your state and electing to be taxed as an S-Corp might be easier than dealing with the S-Corp legal structure. How is your existing EU-based company structured? Will that company continue to exist? There could be some adv...
by JD Leonard
Thu May 23, 2019 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Which Renters Insurance Brand/Company should I use?
Replies: 13
Views: 1515

Re: Which Renters Insurance Brand/Company should I use?

Consider Lemonade if it's available where you live. Low cost. I use them. No claims thus far.
by JD Leonard
Sat May 04, 2019 12:14 am
Forum: Personal Finance (Not Investing)
Topic: Please Critique our Budget
Replies: 28
Views: 2519

Re: Please Critique our Budget

As some others have noted, there seem to be a bunch of typical periodic expenses missing from your list. I wonder whether you've truly captured all of your expenses like car maintenance, utilities, homeowners insurance, life insurance, any routine fees you might incur (e g. credit card annual fees),...
by JD Leonard
Fri May 03, 2019 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: Need a good corporate bank for LLC
Replies: 3
Views: 316

Re: Need a good corporate bank for LLC

I have used Wells Fargo business banking for two different LLCs. No major complaints. Why don't you want to use Wells Fargo?
by JD Leonard
Fri May 03, 2019 12:53 am
Forum: Personal Consumer Issues
Topic: Babymoon?
Replies: 36
Views: 3272

Re: Babymoon?

We're near NYC, heading on our babymoon to Portugal (Madeira and Lisbon) tomorrow! Chose our destination based on convenience, lack of Zika, not having been there before, lack of no-nos for the pregnant lady (e.g. Iceland's thermal baths, Spain's charcuterie) that she'd be disappointed to not have/d...
by JD Leonard
Sat Apr 20, 2019 12:56 am
Forum: Personal Investments
Topic: Net Worth where it should be?
Replies: 49
Views: 7249

Re: Net Worth where it should be?

or go to part time (just for health insurance), and focus on traveling. There are US-based expat-oriented primary health insurance plans (different than travel insurance, which is insufficient) that are much cheaper than typical plans in the US. They typically require that you be in the US for a ma...
by JD Leonard
Sun Apr 07, 2019 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 80
Views: 11523

Re: Primer on Paying Taxes With a Credit Card

I use pay1040.com to pay quarterly estimated taxes. There is no need to mail in anything 8-)
by JD Leonard
Sun Apr 07, 2019 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 80
Views: 11523

Re: Primer on Paying Taxes With a Credit Card

The 2 payments per quarter is an IRS rule: https://www.irs.gov/payments/frequency-limit-table-by-type-of-tax-payment From https://frequentmiler.boardingarea.com/pay-taxes-via-credit-card-2018-edition/ In my experience, these limits are enforced per payment processing company. That means that you ca...
by JD Leonard
Sun Apr 07, 2019 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 80
Views: 11523

Re: Primer on Paying Taxes With a Credit Card

I'm finishing up my annual taxes with the H&R Block software, and I have to pay a good chunk of money. The H&R Block app is giving me its options for payment, and the fine print on paying via credit card is a 2.49% fee. It looks like they use Pay1040 as their back-end processor, so H&R Block must b...
by JD Leonard
Mon Apr 01, 2019 10:01 am
Forum: Personal Consumer Issues
Topic: Best enhancement for folks who work from home
Replies: 42
Views: 4553

Re: Best enhancement for folks who work from home

I suggest focusing on ergonomics. Do some online research into the correct positions/angles of limbs and eyes relative to chair, floor, desk, monitor, and keyboard. Sit-stand desk makes a huge difference. Sufficiently adjustable ergonomic chair. Floor mat for standing on (the Butterfly works well). ...
by JD Leonard
Sun Mar 31, 2019 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 80
Views: 11523

Re: Primer on Paying Taxes With a Credit Card

I've been using pay1040.com for years to make estimated payments. An Amex Business Platinum card earns 1.5 points/$ spent on individual purchases that are over $5k. An Amex Blue Business Plus card earns 2 points/$ on up to $50k/yr. An Amex Everyday Preferred card earns 1.5 points/$ in billing months...
by JD Leonard
Sun Mar 31, 2019 8:13 am
Forum: Personal Investments
Topic: Advice for 28
Replies: 22
Views: 5238

Re: Advice for 28

I’m hoping to start working for a friend’s company on the side. This could bring in another $20k per year. What’s the best way to handle this tax wise? Set up an LLC? At this level of earnings, I don't see how an LLC could afford you any tax benefit (and there are significant costs associated with ...
by JD Leonard
Wed Feb 20, 2019 7:42 pm
Forum: US Chapters
Topic: New York City Local Chapter established
Replies: 247
Views: 91272

Re: New York City Local Chapter established

This was the first meeting I attended and it was very enjoyable. Thank you to the organizers and attendees!