Search found 6973 matches

by jebmke
Sun Dec 17, 2017 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Paying Medicare Premiums Quarterly While Suspending SS
Replies: 14
Views: 563

Re: Paying Medicare Premiums Quarterly While Suspending SS

I start Medicare in January. I sent them the paper work for direct debit but I just received a bill for the first quarter stating it is Due December 25. If I pay this will they hold off the start of direct debit until the next payment is due or is this going to start some kind of refund process?
by jebmke
Sun Dec 17, 2017 4:15 pm
Forum: Investing - Help with Personal Investments
Topic: Dividends
Replies: 14
Views: 1307

Re: Dividends

I'm retired. I reinvest mine in food.
by jebmke
Sat Dec 16, 2017 3:59 pm
Forum: Personal Consumer Issues
Topic: Electric Energy Usage
Replies: 39
Views: 1899

Re: Electric Energy Usage

How good is the insulation and windows in the house? We saved quite a bit by adding insulation and replacing a bunch of old windows. This also made the house more comfortable by eliminating drafts.
by jebmke
Sat Dec 16, 2017 1:53 pm
Forum: Investing - Help with Personal Investments
Topic: made a stupid investment - how to tax loss harvest
Replies: 5
Views: 645

Re: made a stupid investment - how to tax loss harvest

I don't know what that ETF is but if it is a bad investment just sell it, book the losses and don't look back.
by jebmke
Sat Dec 16, 2017 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: Dividend classification wrong? Fidelity funds
Replies: 8
Views: 283

Re: Dividend classification wrong? Fidelity funds

You all are right. They classify everything as non-qualified until they do a detailed review in January. The rep said even after that, the companies can reclassify and there is not time limit on that. I.e. they can reclassify 2015 distribution in 2018 requiring Fidelity to issue you tax form (I am ...
by jebmke
Sat Dec 16, 2017 1:39 pm
Forum: Investing - Help with Personal Investments
Topic: Dividend classification wrong? Fidelity funds
Replies: 8
Views: 283

Re: Dividend classification wrong? Fidelity funds

The majority of the qualified/non-qualified determination will not be reflected until they actually release the 1099-DIV. Until then what is reported online should be disregarded. Thank you. Unfortunately I can not disregard this. I am transferring some of my appreciated stocks to DAF. And I need t...
by jebmke
Sat Dec 16, 2017 1:21 pm
Forum: Investing - Help with Personal Investments
Topic: Dividend classification wrong? Fidelity funds
Replies: 8
Views: 283

Re: Dividend classification wrong? Fidelity funds

The dividends just got posted in the account early this morning for following funds that I own. FUSVX -FIDELITY 500 INDEX PREMIUM CLASS FSIVX - FIDELITY INTERNATL INDEX PREMIUM CLASS FSEVX - FIDELITY EXTD MARKET INDEX PREMIUM CLASS Overall in 2016 my qualified to non qualified ratio was 9 to 1. But...
by jebmke
Sat Dec 16, 2017 10:58 am
Forum: Personal Consumer Issues
Topic: Electric Energy Usage
Replies: 39
Views: 1899

Re: Electric Energy Usage

Eye-balling the history graph on our last bill, we use ~1,000-1,200 kwh per month. Two people, ~ 2,500 sf single-story house, heat pump, well pump, swimming pool (not heated). We keep the heat around 66-67 during the day, 62-63 at night. Summer we keep the AC at 75-76 during the day and maybe 73-74 ...
by jebmke
Sat Dec 16, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: be careful, no longer allowed to prepay local and state taxes for a deduction

^ this is how I read the text as well. Trying to interpret tax code, existing or proposed, from newspaper articles is risky.
by jebmke
Sat Dec 16, 2017 10:11 am
Forum: Investing - Help with Personal Investments
Topic: Year End Distribution for ACINX
Replies: 6
Views: 428

Re: Year End Distribution for ACINX

munemaker- Looks like LAIAX (class A) shares are payable 12/18. The range of the cap gains distributions is 5.49%-5.81% of NAV for class A shares. I would think (though I don't know) that it would be the same for institutional shares. https://www.columbiathreadneedleus.com/content/columbia/pdf/2017...
by jebmke
Fri Dec 15, 2017 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Are you prepaying real-estate taxes this year?
Replies: 16
Views: 1979

Re: Are you prepaying real-estate taxes this year?

My county won't take the money. I am blasting another remnant stock into my DAF though.
by jebmke
Fri Dec 15, 2017 6:23 pm
Forum: Investing - Help with Personal Investments
Topic: 2017 tax help
Replies: 20
Views: 1689

Re: 2017 tax help

With dividends you need to follow the bouncing ball through the capital gains worksheet. The brackets are not the total picture. If you print that out, you should be able to walk it through step by step and see how the calculation works.
by jebmke
Fri Dec 15, 2017 4:52 pm
Forum: Personal Consumer Issues
Topic: Uber vs Ambulance - HUGE cost difference
Replies: 58
Views: 6220

Re: Uber vs Ambulance - HUGE cost difference

No uber in rural areas; no medical care either so I'm still dependent on duct tape for trauma and jumper cables for cardiac care to get me to civilization. Our local hospital can't handle either so I'll likely have to drive myself.
by jebmke
Mon Dec 11, 2017 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Year end review with less nerdy spouse
Replies: 67
Views: 6683

Re: Year end review with less nerdy spouse

mancich wrote:
Mon Dec 11, 2017 6:07 pm
(what do we want to accomplish together in 2018)
Doesn't sound like there is much "together" in this if you are preparing the slides.
by jebmke
Mon Dec 11, 2017 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

It is a well known rule. In case IRS does not respond and until a reply comes, one can go ahead with his plan and fines cannot be imposed. Of course, interests on late payments can, if that is the case. Any error is considered bona fide. Certainly not well known by me. Code citation please? So you'...
by jebmke
Mon Dec 11, 2017 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: How much international before exceeding $300 foreign tax credit
Replies: 6
Views: 563

Re: How much international before exceeding $300 foreign tax credit

If your foreign sourced dividends are less than some number ($20K I think), form 1116 is not that complicated to complete.
by jebmke
Mon Dec 11, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

MikeG62 wrote:
Mon Dec 11, 2017 4:21 pm
So whatever a rep on the phone is likely to say (if anything) won't be dispositive under IRS audit anyway.
Is it ever? On many topics you can call multiple times and get different answers.
by jebmke
Mon Dec 11, 2017 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

j0hnd0e wrote:
Mon Dec 11, 2017 3:27 pm
Has anyone tried or is interested in contacting IRS or a tax professional to get more information on whether this would be deductible in 2017 or not?
I recommended that upthread. I'd do it myself if I needed this deduction but I have others that are more valuable.
by jebmke
Mon Dec 11, 2017 11:16 am
Forum: Personal Consumer Issues
Topic: Kerosene Heater (for power-out emergencies)
Replies: 33
Views: 1711

Re: Kerosene Heater (for power-out emergencies)

We installed a gas insert in our main fireplace in Wisconsin when we lived there. It was handy a couple of times when the power went out. Had to encamp to the living room but not that big a deal. Kept the LR pretty well at normal temps.
by jebmke
Mon Dec 11, 2017 10:05 am
Forum: Investing - Help with Personal Investments
Topic: Which type of 401K rollover?
Replies: 10
Views: 510

Re: Which type of 401K rollover?

What does your tax situation look like next year and the year after? If you are in a zero bracket, another strategy is to roll to a TIRA now and then convert an amount to a ROTH to use the entire zero bracket (or perhaps brackets that are less than 15%) in 2018 and future years.
by jebmke
Mon Dec 11, 2017 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

It is not clear to me how the States will report 2018 tax payments in 2017. Nor do I understand how the IRS document matching program will compare the State reporting document with the (modified) TurboTax return. Any insights would be appreciated. I don't think there is any active matching on estim...
by jebmke
Mon Dec 11, 2017 9:49 am
Forum: Personal Consumer Issues
Topic: How easy is it to minimize tax liability yourself without a CPA/accountant?
Replies: 26
Views: 2541

Re: How easy is it to minimize tax liability yourself without a CPA/accountant?

One of the keys to minimizing tax liabilities is looking far enough ahead -- and I mean years, not months. The levers in December for the current tax year are often quite limited. My main focus on tax management over the last few years was to focus most of my time on 2018-2022 (the years following m...
by jebmke
Mon Dec 11, 2017 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

No, the law only allows for the tax to be a deducttion "for the taxable year during which paid." Ok, then it is deductible in 2017. Probably, yes. You could call the IRS and ask them. I'm sure this has come up before. The phone answer isn't definitive but it might give an indication of how they wou...
by jebmke
Sun Dec 10, 2017 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

I think the worst case might be taking the deduction in 2017, having it disallowed and be unable to take a (still permitted) deduction in 2018 because the tax was paid in 2017.
by jebmke
Sun Dec 10, 2017 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Pay Estimated Taxes
Replies: 7
Views: 756

Re: Pay Estimated Taxes

That makes a great deal of sense! I am going to lower my exemptions and that should take effect for my last paycheck (and bonus). As for FICA taxes, she will be paying the full load; is the "employer" portion tax deductible? Thanks. The employer portion is an adjustment to your gross income in arri...
by jebmke
Sun Dec 10, 2017 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: What are your big-picture ‘rules of life’ —financial or otherwise?
Replies: 101
Views: 8935

Re: What are your big-picture ‘rules of life’ —financial or otherwise?

A wise person gave me two words of advice when I was starting out.

First, manage your expectations. Sometimes you need to have high expectations and other times you need to moderate them to avoid disappointment.

Second, wear comfortable shoes. You will spend many hours of your life on your feet.
by jebmke
Sun Dec 10, 2017 11:57 am
Forum: Investing - Theory, News & General
Topic: How should I look at SS and pensions when developing my post-FRA AA?
Replies: 30
Views: 1017

Re: How should I look at SS and pensions when developing my post-FRA AA?

I would use a DCF method to estimate a value for the pension, or any other stream of future payments, and count that in the bonds component of my AA. This to avoid all those absurdities that usually pop out when one uses extravagant accounting procedures. If the plan provides a lump sum option, tha...
by jebmke
Sun Dec 10, 2017 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Pre-Pay Property Taxes in 2017?
Replies: 23
Views: 2317

Re: Pre-Pay Property Taxes in 2017?

Regardless of my rate in any one year, if the actual dollar value of taxes I owe exceeds the property tax deduction I will take, what does the rate matter? (Maybe that's the key? I don't envision a case where my rate is low enough such that my overall tax bill is less than my property tax deduction...
by jebmke
Sun Dec 10, 2017 11:39 am
Forum: Investing - Theory, News & General
Topic: How should I look at SS and pensions when developing my post-FRA AA?
Replies: 30
Views: 1017

Re: How should I look at SS and pensions when developing my post-FRA AA?

My pensin plan gives me the choice of collecting 500k at separation, or 3k/month for the rest of my life. Would anyone think that if I chose the instant payout I can include that amont under “cash”, but if I pick the pension I am half a million poorer ? If you elect the annuity your net assets will...
by jebmke
Sun Dec 10, 2017 11:38 am
Forum: Investing - Theory, News & General
Topic: How should I look at SS and pensions when developing my post-FRA AA?
Replies: 30
Views: 1017

Re: How should I look at SS and pensions when developing my post-FRA AA?

I just project them as income (so net expenses have to be funded from investments).
by jebmke
Sun Dec 10, 2017 11:30 am
Forum: Investing - Help with Personal Investments
Topic: Cash heavy and unsure
Replies: 12
Views: 1049

Re: Cash heavy and unsure

Going back to the OP’s orginal question: No, there is no good reason to invest in treasuries instead of CD’s, when the latter offer a higher yield ceteris paribus. Generally, yes. Especially small amounts. Once you get large amounts it becomes cumbersome, even with brokered CDs. But if you don't ne...
by jebmke
Sun Dec 10, 2017 10:27 am
Forum: Personal Consumer Issues
Topic: Cell signal booster to fix -110 dBm 99aum signal strength
Replies: 9
Views: 570

Re: Cell signal booster to fix -110 dBm 99aum signal strength

In my quest to reduce my mobile phone bill I have been using Republic Wireless MOTO G wifi phone for the past 3 - 4 years. Recently, I installed 3 Google WIFI devices in my house but my Republic Wireless service is still very unreliable when it comes to handling phone calls. I could switch to Veriz...
by jebmke
Sun Dec 10, 2017 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

If one pays and deducts the 2018 estimated tax in 2017 and the deduction is subsequently disallowed, how would this affect the ability to deduct it in 2018? Normally the requirements for a deduction are that the tax must be paid in the tax year when the deduction is taken. In my opinion this would ...
by jebmke
Sun Dec 10, 2017 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax bug with Medical Expenses
Replies: 7
Views: 587

Re: Turbo Tax bug with Medical Expenses

es. Those 1099 corrections happen lot. I actually got two sets from Vanguard last year. The first set was wrong; the second set corrected it back to the original set. Duh! One of my worse case scenarios was a taxpayer who came into my TaxAide site a second time with a brokerage statement that revea...
by jebmke
Sun Dec 10, 2017 9:59 am
Forum: Investing - Help with Personal Investments
Topic: Cash heavy and unsure
Replies: 12
Views: 1049

Re: CDs and treasuries

Why would anyone buy treasuries over CDs? I am not an accomplished investor, but I have read enough of the fine print to know the difference. Why would one choose treasuries over a CD if investing under $250,000? liquidity, probably. Also, you can buy treasuries that are inflation protected whereas...
by jebmke
Sun Dec 10, 2017 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

I thought I raised this question before but could not find it. Apologies if this is a repeat. If one pays and deducts the 2018 estimated tax in 2017 and the deduction is subsequently disallowed, how would this affect the ability to deduct it in 2018? Normally the requirements for a deduction are tha...
by jebmke
Sun Dec 10, 2017 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax bug with Medical Expenses
Replies: 7
Views: 587

Re: Turbo Tax bug with Medical Expenses

Turbo Tax fiddles with their Federal software up through about the third week of January. I wouldn't waste much time with the versions they issue in December. They often don't finalize the State software until a week or two later. Most tax software is updated frequently well into March. After 10 ye...
by jebmke
Sun Dec 10, 2017 9:20 am
Forum: Investing - Theory, News & General
Topic: Why Are So Many Companies Announcing Share Buyback?
Replies: 32
Views: 2930

Re: Why Are So Many Companies Announcing Share Buyback?

So the theory is that stock buybacks boost the stock price and this rewards shareholders. Is there any data on this? How much of a boost are we talking about? If such a thing is true one could just by the stock ahead of the announced buyback and profit on that move. Unlike a dividend which is suppo...
by jebmke
Sat Dec 09, 2017 6:01 pm
Forum: Investing - Theory, News & General
Topic: TSM vs High Dividend Yield if I never choose to sell?
Replies: 36
Views: 2327

Re: TSM vs High Dividend Yield if I never choose to sell?

Wouldnt my dividends be taxed at 15%? The same as LT capital gains? I you play your cards right you won't pay capital gains tax. When the market tanks, you will harvest losses and carry them over. And if you have no losses to carry over you will sell the shares with the highest cost basis so your g...
by jebmke
Sat Dec 09, 2017 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

Thesaints wrote:
Sat Dec 09, 2017 5:50 pm
If I don’t write it in, it’t won’t appear. That much is certain.
True.

As I have indicated before, it would probably be a last resort pull forward for me. Other bunching items gain me benefit on my state return whereas this would not. Best of luck.
by jebmke
Sat Dec 09, 2017 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

State You would need to make sure it doesn't appear on the state return. Most tax software will drop the State estimated payments entered on the Federal return to the state return. Just need to make sure that the state return doesn't have anything that should not be refunded. Edit - I just entered a...
by jebmke
Sat Dec 09, 2017 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

Most software wants details entered on a worksheet. I don't believe TT allows input on line 5 of Sched A (unless you want to mail it in; no e-file). Looks like TT only allows input for 2016 and 2017 estimated taxes paid in 2017 unless you use Line 7 which look like a catchall and may not be correct...
by jebmke
Sat Dec 09, 2017 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

Thesaints wrote:
Sat Dec 09, 2017 5:10 pm
Sure! In fact the best thing that a smart investor can do at present is assume that the tax law won’t change and do all of his/her planning for the future based on that.
You can make and act on any assumption you want. It just can't be discussed here.
by jebmke
Sat Dec 09, 2017 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Does this happen to you? Educating friends about personal finance
Replies: 104
Views: 5907

Re: Does this happen to you? Educating friends about personal finance

It seems like lots of folks are happy to recommend a specific car brand or appliance or vacation spot, but not actually happy to recommend Vanguard and index funds. What's up with that? I don't do those either. Cars and vacation spots are highly dependent on tastes and I don't pretend to know what ...
by jebmke
Sat Dec 09, 2017 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

One may want to consider the prepayment (if not subject to AMT) with the possible pending changes for next year. This raises an interesting question. If one pays them this year and they are disallowed as a deduction for 2017, since they were not paid in 2018 would they then not be deductible in 2018?
by jebmke
Sat Dec 09, 2017 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

OK, so again I ask: because of the current uncertainty, can one act now (prepay state income tax) and decide later (which year to take the deduction, if, indeed, there remains an option)? Probably not. If you are a cash basis taxpayer, deductions (which I distinguish from adjustments like IRA and H...
by jebmke
Sat Dec 09, 2017 12:43 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA for Minors, can I invest without a 1099?
Replies: 8
Views: 663

Re: Roth IRA for Minors, can I invest without a 1099?

Thank you all. These were all small earnings from snow shoveling, leak raking, dog walking, plant watering, garage cleaning, etc. from many different neighbors...no where close to $600 from any family. It sounds like the notebook will suffice. Is this ledger something I have to show Vanguard when d...
by jebmke
Sat Dec 09, 2017 12:32 pm
Forum: Investing - Theory, News & General
Topic: Vanguard year end distributions - updated estimates
Replies: 62
Views: 7535

Re: Vanguard year end distributions - updated estimates

I have about 100 REIT (VGSLX) funds in my portfolio. Net income availability says $1.32 but estimated QDI says 0%. Does that mean I am supposed to receive $132 ($1.32 x 100) but there won't be any dividend payout so I get $0 as dividend? All dividends are ordinary dividends (unless from tax-exempt ...
by jebmke
Sat Dec 09, 2017 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Prepayment of SALT Taxes? [State and Local]
Replies: 270
Views: 20750

Re: Prepayment of SALT Taxes? [State and Local]

As far as I know, taxes can only be deducted in the year they are paid. It is not clear whether 2018 taxes paid in 2017 can be deducted in 2017.