Search found 70 matches

by BogleTaxPro
Tue Oct 20, 2020 11:47 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block 2020 software offer
Replies: 66
Views: 3253

Re: H&R Block 2020 software offer

This is good info. Thanks for the details and links.. I pay arounf $125 - $150 every year to file my taxes. For example, this year I have paid $130 ($80 federal and $30 for state) to TurboTax to file my 2019 returns online. I used the premier level to report capital losses in 2019 ($3k deduction), ...
by BogleTaxPro
Tue Oct 20, 2020 10:01 am
Forum: Personal Consumer Issues
Topic: Recommend WiFi camera that works on guest network
Replies: 17
Views: 889

Re: Recommend WiFi camera that works on guest network

You may want to check to see what band the guest network was setup on. Companies tend to default the default setup to the 5GHz band, but most IOT devices will only work on a 2.4 GHz band. If you don't know how to check this, Verizon should be able to help you if you point them in this direction. An...
by BogleTaxPro
Mon Oct 19, 2020 11:45 am
Forum: Personal Consumer Issues
Topic: Recommend WiFi camera that works on guest network
Replies: 17
Views: 889

Re: Recommend WiFi camera that works on guest network

You may want to check to see what band the guest network was setup on. Companies tend to default the default setup to the 5GHz band, but most IOT devices will only work on a 2.4 GHz band. If you don't know how to check this, Verizon should be able to help you if you point them in this direction. And...
by BogleTaxPro
Sun Oct 18, 2020 6:49 pm
Forum: Personal Consumer Issues
Topic: Vanguard.com has invalid certificate
Replies: 22
Views: 1494

Re: Vanguard.com has invalid certificate

I'm fine. Using Firefox and Windows 10. Try clearing your cache?
by BogleTaxPro
Fri Oct 16, 2020 5:41 pm
Forum: Personal Consumer Issues
Topic: Looking for online FAX service recommendations
Replies: 11
Views: 441

Re: Looking for online FAX service recommendations

I haven't used any of these, but here's what PC magazine thinks: https://www.pcmag.com/picks/the-best-on ... x-services
by BogleTaxPro
Sat Oct 10, 2020 10:42 am
Forum: Personal Investments
Topic: RMD in 2020?
Replies: 4
Views: 511

Re: RMD in 2020?

It's a bug. Rest easy.
by BogleTaxPro
Fri Oct 09, 2020 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse mortgage, sell home, etc for elderly parent
Replies: 17
Views: 932

Re: Reverse mortgage, sell home, etc for elderly parent

www.agingcare.com is a good caregiving site. If the elder needs NH level care and the daughter has been providing care for her for 2 years (and this has kept her out of a NH) there is often an exemptiom from Medicaid recovery (MERP) of the home. The best thing is for this family to consult an elder...
by BogleTaxPro
Mon Oct 05, 2020 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Premium Rebate for 2019 – “Medical Loss Ratio” / 1099
Replies: 10
Views: 771

Re: Health Insurance Premium Rebate for 2019 – “Medical Loss Ratio” / 1099

I have not experienced this personally (yet). But I'm 99.9% certain that since your check is over $600 you will get a 1099-MISC from the company (ick). Just because they don't "have to" according to the IRS FAQ...they're not going to want to be responsible to figure out if it's taxable or not (hones...
by BogleTaxPro
Sun Oct 04, 2020 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401K to SEP
Replies: 1
Views: 123

Re: Solo 401K to SEP

The IRS provides a nifty chart showing what transfers are allowable:
https://www.irs.gov/pub/irs-tege/rollover_chart.pdf
by BogleTaxPro
Sat Oct 03, 2020 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage and Closing Documents
Replies: 7
Views: 535

Re: Mortgage and Closing Documents

You'll want to keep the escrow settlement accounting. When you eventually sell, it will prove your original purchase price and some of the purchase expenses can be used to offset your capital gains.
by BogleTaxPro
Thu Sep 24, 2020 1:40 pm
Forum: Personal Investments
Topic: Re: Fees on Roth IRA transfer
Replies: 7
Views: 418

Re: Fees on Roth IRA transfer

retiredjg wrote: Thu Sep 24, 2020 1:37 pm Considering that Fidelity does this all the time, I feel sure it is legal for them to reimburse you for that cost. This is not another contribution. I would not give it a second thought.
+1 Totally. 8-)
by BogleTaxPro
Thu Sep 24, 2020 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Community property with right of survivorship
Replies: 8
Views: 739

Re: Community property with right of survivorship

If we do in kind transfer, will the new account have the previous cost basic info? We are using specific lot method. I don't do specific lot method so I don't know the answer to that. I know that in my case (and this was a couple of years ago), the regular cost basis did transfer over correctly. Yo...
by BogleTaxPro
Thu Sep 24, 2020 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Community property with right of survivorship
Replies: 8
Views: 739

Re: Community property with right of survivorship

Changing account type, will it cause any extra work during tax return? My experience has been that for a change in title, Vanguard will create a new account number and transfer the assets in-kind to the new account. The only tax implication is bookkeeping. You may get 2 1099's next year--one for ea...
by BogleTaxPro
Wed Sep 23, 2020 6:58 pm
Forum: Personal Consumer Issues
Topic: Planned power outage - any 'must-do's' or 'don'ts'?
Replies: 28
Views: 2118

Re: Planned power outage - any 'must-do's' or 'don'ts'?

...don't forget unplug the TV or anything else that has a remote (since they're just normally sleeping). And if you have smart home devices...you can leave them on, but they may have to be re-booted after the power comes back on. And if you have smart routines that turn things on and off, those can ...
by BogleTaxPro
Wed Sep 23, 2020 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Business Structure for revenue generating hobbies
Replies: 20
Views: 1548

Re: Business Structure for revenue generating hobbies

Are you currently reporting these activities as a sole proprietor on schedule C? That might be all you need to do. LLCs are state registered entities. S-Corps are corporations that have elected to be taxed as pass through income. Either might be appropriate depending on the nature of what you're do...
by BogleTaxPro
Wed Sep 23, 2020 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to deliberately underpay the IRS due to low interest rates?
Replies: 11
Views: 1478

Re: Does it make sense to deliberately underpay the IRS due to low interest rates?

You'll owe a penalty for underpayment even if you pay it all by April 15, 2021. Briefly, the rules for safe harbor apply to taxes WITHHELD. If you have additional income during the year that taxes have not been withheld from, you're expected to pay-as-you-go each quarter that you gained that income....
by BogleTaxPro
Wed Sep 23, 2020 10:51 am
Forum: Personal Investments
Topic: Selling $1.5m rental
Replies: 2
Views: 858

Re: Selling $1.5m rental

A 1031 exchange is possible and exchanging for 2 properties is okay. *BUT* make sure you understand the rules and deadlines and follow them carefully, or the whole thing will collapse. Here's a good start for the basics, but please make sure you get professional help (possibly from your intermediary...
by BogleTaxPro
Sun Sep 20, 2020 9:35 am
Forum: Personal Finance (Not Investing)
Topic: COBRA v. Spouse's Health Insurance
Replies: 15
Views: 930

Re: COBRA v. Spouse's Health Insurance

As terran said, your calculations seem to be pretty much spot-on. As far as hassles go...I've done it both ways (COBRA vs spouse insurance). Adding her to your insurance either now (qualifying event) or later (open enrollment at end of year) will most likely be a simple process...at most one form fo...
by BogleTaxPro
Tue Sep 15, 2020 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Misspelled Trust Name in IRS Form
Replies: 19
Views: 1255

Re: Misspelled Trust Name in IRS Form

Well...if the name doesn't match between the EIN and the tax documents associated with it, it can sometimes get spit back out as a mismatch during e-filing. This one might not cause that (I think the matching is generally just on the first few letters) but it would save time later one to just fix it...
by BogleTaxPro
Tue Sep 15, 2020 4:28 pm
Forum: Personal Investments
Topic: Which are taxed first long-term capital gains or short-term capital gains?
Replies: 9
Views: 996

Re: Which are taxed first long-term capital gains or short-term capital gains?

You can see this best if you actually fill out a Qualified Dividends and Capital Gain Tax Worksheet:
https://www.thetaxbook.com/updates/TheT ... ksheet.pdf
or use your favorite tax preparation software to do "what-if" scenarios.
by BogleTaxPro
Sun Sep 13, 2020 9:32 am
Forum: Personal Consumer Issues
Topic: [Question regarding password security]
Replies: 101
Views: 3305

Re: Security question on one's passwords

You need a password manager. If a password is compromised at any site, every account where that same password is used will eventually be compromised as well. Since you won't always know when this occurs, the risk is too great, especially with financial accounts IMO. I personally use LastPass, but t...
by BogleTaxPro
Fri Sep 11, 2020 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Refi with Owning, Question on Loan Assumption, please help
Replies: 3
Views: 339

Re: Refi with Owning, Question on Loan Assumption, please help

You can only continue that mortgage if it's assumeable and the term says it isn't. In order to keep the house after your mother's death, you will have to pay off the remaining mortgage either with cash/selling investments/obtaining a new mortgage in your own name.
by BogleTaxPro
Tue Sep 08, 2020 6:59 pm
Forum: Personal Consumer Issues
Topic: Very slow shower drain, plumber couldn't fix, ideas? - Update
Replies: 77
Views: 6355

Re: Very slow shower drain, plumber couldn't fix, ideas?

Find a company that does hydrojetting. Not cheap but it will clear tree roots and can go farther than a snake.
by BogleTaxPro
Tue Sep 08, 2020 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA/MiL
Replies: 3
Views: 351

Re: Dependent Care FSA/MiL

That should be a simple question, but it's not. Sigh. If she provides the care in your home, she may be considered a household employee and subject to a lot of paperwork. But if she provides the care at her own home, then you still have to determine according to the IRS rules whether she's an indepe...
by BogleTaxPro
Tue Sep 08, 2020 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Safe Harbor
Replies: 4
Views: 557

Re: Estimated Tax Safe Harbor

If you look at form 2210 (underpayment of estimated tax), it will walk you through what lines are involved in the calculation and you can probably get a pretty good estimate from there:
https://www.irs.gov/pub/irs-pdf/f2210.pdf
https://www.irs.gov/pub/irs-pdf/i2210.pdf
by BogleTaxPro
Sun Sep 06, 2020 2:14 pm
Forum: Personal Consumer Issues
Topic: Reducing road noise that reaches back side of house
Replies: 43
Views: 3061

Re: Reducing road noise that reaches back side of house

Get a white noise machine that has a variety of sounds to choose from. Your fan is a good start, but the frequency is constant so you still hear background variances. White noise machines have choices like "train" and "ocean waves" that vary so that other background noises will be perceived as just...
by BogleTaxPro
Sat Sep 05, 2020 6:17 pm
Forum: Personal Consumer Issues
Topic: plug in streaming device
Replies: 38
Views: 2261

Re: plug in streaming device

Rather than getting something wired, you can get an HDMI adapter for the TV that allows you to mirror any of those devices to the TV using Bluetooth. Bluetooth is not internet or intranet. See if any of these options sound like something you might want to try? I haven't tried these I just googled. h...
by BogleTaxPro
Sat Sep 05, 2020 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Declined 2 opportunities for advancement. Should I be trying to climb the corporate ladder or is being content okay?
Replies: 65
Views: 6148

Re: Declined 2 opportunities for advancement. Should I be trying to climb the corporate ladder or is being content okay?

Be true to yourself. I chased the manager role early in my career and was miserable when I got it. I was lucky that circumstances changed and I was able to transition back to a contributor role. I never made that mistake again, no matter how flattered or tempted i was.
by BogleTaxPro
Sat Sep 05, 2020 7:09 am
Forum: Personal Consumer Issues
Topic: Reducing road noise that reaches back side of house
Replies: 43
Views: 3061

Re: Reducing road noise that reaches back side of house

Get a white noise machine that has a variety of sounds to choose from. Your fan is a good start, but the frequency is constant so you still hear background variances. White noise machines have choices like "train" and "ocean waves" that vary so that other background noises will be perceived as just ...
by BogleTaxPro
Thu Sep 03, 2020 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Starting to look for new house
Replies: 17
Views: 1850

Re: Starting to look for new house

We've also been advised by friends to make the new house purchase contingent on selling our current house, which we think might sell quickly based on recent history. We would probably plan to move into the new house and have some quick renovations done to the current one before putting it on the ma...
by BogleTaxPro
Thu Sep 03, 2020 10:23 am
Forum: Personal Finance (Not Investing)
Topic: tax strategies for community property state residents
Replies: 4
Views: 367

Re: tax strategies for community property state residents

Theoretically, yes...if she's a US citizen. You can gift unlimited assets between US citizen spouses. But you'd want to run both your numbers both ways (MFJ vs MFS) through tax software and compare the results. Your spouse's income would be taxed at a higher rate so it might be a wash...or even detr...
by BogleTaxPro
Wed Sep 02, 2020 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: tax strategies for community property state residents
Replies: 4
Views: 367

Re: tax strategies for community property state residents

No. If the taxable accounts hold assets acquired with community funds (ie income earned during your marriage) then they are still considered community property regardless of how they're titled. Strategies I've seen: - Assets you owned before marriage would be separate property if (and only if) they ...
by BogleTaxPro
Sat Aug 29, 2020 6:51 pm
Forum: Personal Consumer Issues
Topic: What works best to clean tile? I have 4 inch tile with cement used as grout.
Replies: 11
Views: 1123

Re: What works best to clean tile? I have 4 inch tile with cement used as grout.

For the soap scum, mr. Clean magic eraser works great. Don't even need a cleaning product. The generic versions work just as well. It will also remove the surface mold, but you may need a treatment to kill the mold spores to slow it down from coming back. Ask at the hardware store?
by BogleTaxPro
Fri Aug 28, 2020 2:22 pm
Forum: Personal Consumer Issues
Topic: Remove a slide-in gas stove
Replies: 18
Views: 1199

Re: Remove a slide-in gas stove

It's hard to tell from the picture, but if it's what it looks like then I agree with adamthesmythe on how to get it out: "...try to lift the stove before sliding, maybe by adjusting legs or pushing something under the stove". But if this is how you get it out...it's going to be just as tough (or tou...
by BogleTaxPro
Thu Aug 27, 2020 6:38 pm
Forum: Personal Investments
Topic: 401k transfer
Replies: 6
Views: 413

Re: 401k transfer

Your retirement accounts must be kept separate, sorry.

She'll need to talk to her employer as to whether they allow in-service rollovers. Not all do.
by BogleTaxPro
Wed Aug 26, 2020 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Employer Offered Pre-65 Retiree Medical Plan – Worth it?
Replies: 22
Views: 1581

Re: Employer Offered Pre-65 Retiree Medical Plan – Worth it?

My husband was in a similar situation, but he was given an option to delay the decision to take the retiree coverage (and the coverage is so terrible that we postponed and took cobra instead, for now). Did your employer give you an option like that? If not, I'll agree with the crowd and you should t...
by BogleTaxPro
Tue Aug 25, 2020 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Preparer Documentation for Indirect Rollover and QCD
Replies: 11
Views: 519

Re: Tax Preparer Documentation for Indirect Rollover and QCD

Speaking as both a professional tax preparer...and a Tax-Aide volunteer... 8-) Although it helps (a bunch) if you have all the documentation when you see us, we don't "require" proof. We mostly ask for this for two reasons: 1. So neither you nor I miss something. 2. So if the IRS sends you a letter ...
by BogleTaxPro
Mon Aug 24, 2020 6:16 pm
Forum: Personal Consumer Issues
Topic: We received a request to reset your Facebook password.
Replies: 22
Views: 1353

Re: We received a request to reset your Facebook password.

It's most likely that someone else has simply mis-typed their ID and can't figure out why "their" password doesn't work. :oops:
by BogleTaxPro
Mon Aug 24, 2020 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: How bad is my health insurance/help choosing plan
Replies: 5
Views: 593

Re: How bad is my health insurance/help choosing plan

Based on the numbers you've provided yes your wife's company was, indeed, pretty generous. I wouldn't say your company is really bad, more like...average for these days. As you probably already know, the difference between the plans is how much you pay in coinsurance vs how much you pay in premium. ...
by BogleTaxPro
Sun Aug 23, 2020 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Unreported tip income
Replies: 2
Views: 595

Re: Unreported tip income

My teen started their first food service job last month and has been getting cash tips after every shift. I have read IRS Pub 531 and it seems that it is recommended to: 1. Log details of tips (we do that) 2. Report tips to employer by 10th of following month (question here) 3. Employer supposed to...
by BogleTaxPro
Sun Aug 23, 2020 9:49 am
Forum: Personal Consumer Issues
Topic: Easiest Way to Fax From Computer?
Replies: 19
Views: 1453

Re: Easiest Way to Fax From Computer?

PC Magazine recommends several products:
https://www.pcmag.com/picks/the-best-on ... x-services
See if one of these options works for Mac? I'm not a Mac person.
by BogleTaxPro
Thu Aug 20, 2020 5:38 pm
Forum: Personal Consumer Issues
Topic: Dental insurance for seniors
Replies: 29
Views: 2557

Re: Dental insurance for seniors

also +1 on just paying directly. Our dentist office actually suggested we look into the AARP Delta PPO plan. But in comparing what we actually pay each year (I keep medical/dental expenses in a spreadsheet) vs what the premiums would be...it didn't make sense. Plus, they restrict how much they'll pa...
by BogleTaxPro
Mon Aug 17, 2020 2:01 pm
Forum: Personal Investments
Topic: Selling rental next year - got a question
Replies: 6
Views: 347

Re: Selling rental next year - got a question

Ouch. That's gonna hurt. :oops: Good luck.
by BogleTaxPro
Mon Aug 17, 2020 1:26 pm
Forum: Personal Investments
Topic: Selling rental next year - got a question
Replies: 6
Views: 347

Re: Selling rental next year - got a question

Welllll...I think you've checked off the two most obvious answers (1031 exchange and 2 of 5 exclusion). About the only other thing I can think of is: if the market takes another dive next year you can tax loss harvest to offset the capital gain. BTW...the amount you still owe on the property is irre...
by BogleTaxPro
Sun Jul 26, 2020 10:03 am
Forum: Personal Consumer Issues
Topic: Question for gardeners - What is the best herbicide to get rid of Canada Thistle? An update
Replies: 38
Views: 2061

Re: Question for gardeners - What is the best herbicide to get rid of Canada Thistle?

Also, I came across these 2 models for gloves on Walmart's website - these are for women but they (G&F) make similar gloves for men too. G & F Florist Pro Rose Gardening Gloves ~$13 G & F 2430M Florist Pro Long Sleeve Rose gardening Gloves, Thorn Resistant Garden Gloves, Rose Pruning Gloves ~ $18 N...
by BogleTaxPro
Fri Jul 24, 2020 3:47 pm
Forum: Personal Investments
Topic: Inheritance Advice
Replies: 15
Views: 1357

Re: Inheritance Advice

sandan wrote: Fri Jul 24, 2020 3:39 pm -The cost basis for inherited taxable assets are on the date of death and any gains after that date should be treated as long-term capital gains.(so it shouldn't matter whether you sell this year or next)
You are correct. :-)
by BogleTaxPro
Sun Jul 12, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Warning: Solo K and 5500 EZ
Replies: 64
Views: 4497

Re: Warning: Solo K and 5500 EZ

How did you answer questions 11 and 12? Those tell the IRS whether you are a defined benefit or defined contribution plan. Forms SB/MB are only required for defined BENEFIT plans, not defined CONTRIBUTION plans.
by BogleTaxPro
Fri Jul 10, 2020 3:48 pm
Forum: Personal Consumer Issues
Topic: Who is your favorite fiction author and what is your favorite book of theirs?
Replies: 168
Views: 10379

Re: Who is your favorite fiction author and what is your favorite book of theirs?

Suntan1 wrote: Fri Jul 10, 2020 3:42 pm Many, many years ago I read Nineteen Eighty-Four by George Orwell. Modern technology will make big brother come alive :twisted: . Prescient author.
+1
by BogleTaxPro
Fri Jul 10, 2020 3:44 pm
Forum: Personal Consumer Issues
Topic: Who is your favorite fiction author and what is your favorite book of theirs?
Replies: 168
Views: 10379

Re: Who is your favorite fiction author and what is your favorite book of theirs?

Ray Bradbury, Dandelion Wine. It's NOT science fiction, it's a wonderful depiction of life in small town america.
by BogleTaxPro
Fri Jul 10, 2020 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Direct Pay - Identity Verification Problems??
Replies: 22
Views: 1151

Re: IRS Direct Pay - Identity Verification Problems??

I just did my payments, and did not have issues. I used Firefox as the browser. Are you entering your SSN without the dashes? It just wants the numbers. Other than that, it sounds like you covered all the other bases. If you're getting an error, let us all know and maybe it will ping our brains.