Search found 22 matches

by fixieclimber
Wed Feb 17, 2021 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Filing Taxes for the First Time Independently
Replies: 24
Views: 1571

Re: Filing Taxes for the First Time Independently

Hi all,

Filed it today through Turbotax. I appreciated the ease and flow, but I'll research other programs next year.

Just out of curiosity, what are the chances of getting audited? And what happens if you do? Has anyone experienced it? Just my paranoia kicking in now. :oops:

F
by fixieclimber
Tue Feb 16, 2021 8:09 pm
Forum: Personal Finance (Not Investing)
Topic: Filing Taxes for the First Time Independently
Replies: 24
Views: 1571

Re: Filing Taxes for the First Time Independently

I did come across something though going through the TurboTax process. For box 14, I have an RSU and a CA VPDI. The CA VPDI mapped fine in the category, but what category selection do I need to put for the RSU? The only applicable selections I see are: - State deductible employee expense - Other ded...
by fixieclimber
Tue Feb 16, 2021 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Filing Taxes for the First Time Independently
Replies: 24
Views: 1571

Re: Filing Taxes for the First Time Independently

Thanks everyone for their inputs! I'm going through the step by step right now on TurboTax. A few concerns though below from fundseeker. Has anyone had problems with this? Is the online version okay? We've used TurboTax for many years, but never the free version. And I never use an online version be...
by fixieclimber
Tue Feb 16, 2021 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Filing Taxes for the First Time Independently
Replies: 24
Views: 1571

Re: Filing Taxes for the First Time Independently

FelixTheCat wrote: Tue Feb 16, 2021 6:30 pm Use TurboTax.
Thanks Felix, looking at the website. I'd be using the Premier product ($70/person)? May I ask the difference between the free ones vs these paid features? Do they ultimately lead to the same results?

F
by fixieclimber
Tue Feb 16, 2021 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Filing Taxes for the First Time Independently
Replies: 24
Views: 1571

Filing Taxes for the First Time Independently

Hi all, Filing taxes for the first time. Historically, I felt like the $100-200 was worth the piece of mind, but wanted to give this a try and save the few hundreds for my fiancee and me. Quickly about us to determine if it's relatively simple for us to file ourselves - we are renters and both work ...
by fixieclimber
Mon Aug 24, 2020 11:31 am
Forum: Personal Investments
Topic: Confirming Understanding of TLH
Replies: 6
Views: 523

Re: Confirming Understanding of TLH

How do you guard against that scenario? By advance planning, that's how. By not having the same stocks or mutual funds in your Roth IRA as in your taxable account, that's how. Thanks lakpr and sorry for the late response. Sorry for the probably obvious question, but if you are TLH, you only do it i...
by fixieclimber
Wed Aug 19, 2020 12:59 pm
Forum: Personal Investments
Topic: Confirming Understanding of TLH
Replies: 6
Views: 523

Re: Confirming Understanding of TLH

Thanks for the response lakpr! A few followups: You should not have VTSAX in all accounts, especially in the IRA and Taxable. It is best if you can move your IRA to a different fund family; such as Fidelity's FSKAX or Schwab's SWTSX instead. Can you elaborate on this? Is this due to tax efficiency? ...
by fixieclimber
Wed Aug 19, 2020 10:53 am
Forum: Personal Investments
Topic: Confirming Understanding of TLH
Replies: 6
Views: 523

Confirming Understanding of TLH

Hi all, Hope all is well! Wanted to make sure I understand TLH and hope you can confirm or correct it. I find it easier to try and explain it in my own words to make sure I understand with a few questions at the end. Thanks in advance for your help! TLH is selling your investment at a loss. The shor...
by fixieclimber
Thu Apr 23, 2020 11:49 am
Forum: Personal Investments
Topic: Traditional vs Roth Given Current Gov't Spending?
Replies: 4
Views: 524

Traditional vs Roth Given Current Gov't Spending?

Hi all, Today, per the guidance of Bogleheads, I'm currently contributing to my 401K and backdooring my Roth IRA. Overall, I feel like I have enough tax diversification and I intend to implement a Roth conversion ladder (still trying to understand and work out the financial tax impact on that, but I...
by fixieclimber
Wed Apr 15, 2020 1:08 pm
Forum: Personal Investments
Topic: Taxable Event? - VUSXX from Taxable to fund Roth
Replies: 8
Views: 380

Re: Taxable Event? - VUSXX from Taxable to fund Roth

The strategy may depend on whether or not you already own some of the target fund (VTSAX in this case). The initial minimum purchase is $3,000 to get the fund started. Once you own that amount or more, you're allowed to contribute smaller amounts. If you want to hold the money in a MMF in the meant...
by fixieclimber
Wed Apr 15, 2020 12:48 pm
Forum: Personal Investments
Topic: Taxable Event? - VUSXX from Taxable to fund Roth
Replies: 8
Views: 380

Re: Taxable Event? - VUSXX from Taxable to fund Roth

Thanks, related to this... If you are looking to DCA into stocks in the Roth IRA, would you keep the extra funds in a MMF or is there a benefit into putting it into a bond fund in the short term? IE, $6K Roth Contribution - $1K into VTSAX, $5K into bonds or MMF and DCA each month. Which bond fund is...
by fixieclimber
Mon Apr 13, 2020 3:51 pm
Forum: Personal Investments
Topic: Taxable Event? - VUSXX from Taxable to fund Roth
Replies: 8
Views: 380

Taxable Event? - VUSXX from Taxable to fund Roth

Hi, Found a similar thread that was about Federal MMF (VMFXX), so I assume this is the same but want to make sure. Helping a family member and they are looking to sell their Treasury MMF (VUSXX) from their taxable to fund their Roth IRA for both 2019/2020. Are there any tax implications here or is i...
by fixieclimber
Wed Mar 11, 2020 4:51 pm
Forum: Personal Investments
Topic: Strategy Gut Check During This Time
Replies: 7
Views: 855

Re: Strategy Gut Check During This Time

Agreed. A 3-5 year timeline is not long enough to capture the risk/rewards of equity, though you should hold some. I'm not sure why you have a 3-5 year timeline anyway---working toward early retirement (FIRE) or what? If so, then forget the timeline and only focus on accumulating. A lot. We're look...
by fixieclimber
Wed Mar 11, 2020 3:13 pm
Forum: Personal Investments
Topic: Strategy Gut Check During This Time
Replies: 7
Views: 855

Strategy Gut Check During This Time

Hi all, First time going through something like this in the market and want to confirm the best course of action. While this "sale" is going on, what's the best strategy to invest? 1. Do you increase your contributions to 401K to max it out early or keep the contribution rate as is (and st...
by fixieclimber
Tue Mar 03, 2020 6:19 pm
Forum: Personal Consumer Issues
Topic: Las Vegas Golf
Replies: 0
Views: 305

Las Vegas Golf

Hi all, Random post, but a friend and I are looking to golf at LV National later this month. We're looking to play either the 27th or 28th, or even potentially both, but wanted to take advantage of the resident rate. Anyone in town interested in playing a round? :D Beers on us! :sharebeer If there a...
by fixieclimber
Thu Jan 02, 2020 2:41 pm
Forum: Personal Investments
Topic: End of Year Portfolio Review
Replies: 10
Views: 1144

Re: End of Year Portfolio Review

Yes, the main difference is the total contribution limit. The backdoor Roth and MBR (if offered by your plans) are two separate ways of getting long-term after-tax savings into Roth accounts. For after-tax savings, prioritize Roth over Taxable account contributions as Roth accounts grow tax free. I...
by fixieclimber
Thu Jan 02, 2020 1:28 pm
Forum: Personal Investments
Topic: End of Year Portfolio Review
Replies: 10
Views: 1144

Re: End of Year Portfolio Review

Personally I think HSAs have a pretty high hassle factor but part of that is my employer makes them a hassle. I don't agree with the wiki that an HSA should be funded before a Roth IRA or the rest of a 401K. I think your bigger decision is whether to to Traditional or Roth 401K contributions in Cal...
by fixieclimber
Thu Jan 02, 2020 12:58 pm
Forum: Personal Investments
Topic: End of Year Portfolio Review
Replies: 10
Views: 1144

Re: End of Year Portfolio Review

If T.Rowe Price capital appreciation is an available fund option in your 401k you should consider a partial investment in that fund. If you google that fund on this site you will find its well thought of in spite of the expense ratio. . The managers have a very good record of making good asset allo...
by fixieclimber
Wed Jan 01, 2020 6:19 pm
Forum: Personal Investments
Topic: End of Year Portfolio Review
Replies: 10
Views: 1144

Re: End of Year Portfolio Review

Sorry, wanted to bump this!
by fixieclimber
Tue Dec 31, 2019 8:53 pm
Forum: Personal Investments
Topic: End of Year Portfolio Review
Replies: 10
Views: 1144

End of Year Portfolio Review

Hello all and Early Happy New Year! I've come a long way since my initial posts - trying to soak in as much knowledge as I can. Thanks to this site, I'd like to think I have a concrete foundation of this personal finance concept. Been slowly cleaning my accounts up and now finally would like your in...
by fixieclimber
Mon Apr 22, 2019 4:04 pm
Forum: Personal Investments
Topic: Boglehead Philosophy - High Yield Dividend Funds
Replies: 22
Views: 4464

Re: Boglehead Philosophy - High Yield Dividend Funds

Hi all, Apologies for the late reply as I was out of town for the Easter weekend. Per some of the replies, I think my question might be moot since the fund is sitting in my roth IRA (now I know what details I need to include each post) and this might not affect my MAGI. Is this true? A few responses...
by fixieclimber
Sat Apr 20, 2019 12:38 am
Forum: Personal Investments
Topic: Boglehead Philosophy - High Yield Dividend Funds
Replies: 22
Views: 4464

Boglehead Philosophy - High Yield Dividend Funds

Hi Bogleheads, First time post, so apologies if I'm misusing any terminology as I'm still learning. Recently got into actively managing my investments and am in the middle of "Bogleheads Guide to Investing" (Ch 8). It's been interesting (and weirdly fun) and I have so many questions as I'm...