Search found 244 matches

by mattsm
Sun Apr 25, 2021 11:33 pm
Forum: Personal Investments
Topic: Solo 401k
Replies: 3
Views: 422

Re: Solo 401k

Probably needs to be different tax years but I am no expert.
by mattsm
Mon Mar 29, 2021 9:31 pm
Forum: Personal Consumer Issues
Topic: Family car
Replies: 91
Views: 7491

Re: Family car

Got a loaded #1 ( Chrysler Pacifica Hybrid Limited ) for $33k OTD after the federal tax rebate. So far only gone a few miles on gas. Like it so far.
by mattsm
Sun Mar 21, 2021 11:38 pm
Forum: Personal Investments
Topic: Adding independent contractor to full time salaried
Replies: 8
Views: 1103

Re: Adding independent contractor to full time salaried

Yea tax wise there is no clear answer. Simplicity might win.
by mattsm
Wed Mar 17, 2021 6:24 pm
Forum: Personal Consumer Issues
Topic: How do you determine consulting hourly rate?
Replies: 15
Views: 1204

Re: How do you determine consulting hourly rate?

As much as they will pay.
by mattsm
Mon Mar 15, 2021 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity customer service declining?
Replies: 38
Views: 5069

Re: Fidelity customer service declining?

Fidelity has gone downhill for me. So much so that I am seriously considering moving everything away from them.

Can't visit branches. Can't chat, weeks wait for secure email messages.

I can nag and they might call me, but I can't always answer the phone.

-M
by mattsm
Sun Mar 14, 2021 12:14 am
Forum: Personal Investments
Topic: Adding independent contractor to full time salaried
Replies: 8
Views: 1103

Re: Adding independent contractor to full time salaried

Yes, it seems like you maxed out EE (employee) contributions but you can still make ER (employer) contributions. You can make 20% (or 25%... you should read up) of your gross profits as an ER contribution to a 401k for example. So if you make 1200 / month you can do roughly $240 a month as employer ...
by mattsm
Fri Mar 12, 2021 12:10 am
Forum: Personal Finance (Not Investing)
Topic: Skip $10.5k Dependent Care FSA to get $8k Child Care Tax Credit @ 50% daycare expenses in 2021?
Replies: 119
Views: 11643

Re: Skip $10.5k Dependent Care FSA to get $8k Child Care Tax Credit @ 50% daycare expenses in 2021?

You can usually do a DCFSA when there is a qualifying event. Not sure if this is one but they should all be setup for changes mid year at least.
by mattsm
Fri Feb 26, 2021 1:52 am
Forum: Personal Investments
Topic: Layoff preparation and Finance Review
Replies: 19
Views: 2395

Re: Layoff preparation and Finance Review

Primary Home Mortgage: 3% interest rate on a 15 year fixed term, 12 years left. Worth 400k and mortgage is 230k left. Monthly payment $2400 Should we consider refinance our mortgage on the primary home? If we refinance into 30 years with 3%, then the monthly payment will be lowered to $1500. I'd re...
by mattsm
Fri Feb 26, 2021 1:19 am
Forum: Personal Finance (Not Investing)
Topic: Old (supposed) debt now with collector
Replies: 18
Views: 1763

Re: Old (supposed) debt now with collector

Medical debt falls off credit report after 7 years. You are basically in the clear at this point +/- a few weeks/months.
by mattsm
Fri Feb 19, 2021 1:35 am
Forum: Personal Consumer Issues
Topic: Any Boglehead Lessons From the Texas Winter Storm?
Replies: 226
Views: 18650

Re: Any Boglehead Lessons From the Texas Winter Storm?

We have a new house with a fire suppression system... that is full of water at all times. Turn it off and drain it in an event like this. Some other folks have the same thing but theirs is in a fire closet and the HOA did not turn theirs off... lots of them had leaks. Otherwise, I did the usual and ...
by mattsm
Sun Feb 07, 2021 11:30 am
Forum: Personal Consumer Issues
Topic: Laptop Decision
Replies: 78
Views: 4619

Re: Laptop Decision

I have an M1 with 8GB of memory (coming from older MB with 16GB) and the laptop is above and beyond. It seems faster than my i9 MBP with 16GB and the battery lasts forever. The only downside is it only supports 1 external monitor so I can't use my full desk setup with the TB hub. I run a few differe...
by mattsm
Mon Nov 02, 2020 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: HOA stopping my rental
Replies: 80
Views: 8277

Re: HOA stopping my rental

I would seek legal advice and see if you are ‘grandfathered’. Agree. Although I must say that if I bought a property in an upscale neighborhood and found out that I had moved in next to a rental property, I would NOT be happy. No matter how nice and quiet the renter might be. Absolutely kills the p...
by mattsm
Sun Nov 01, 2020 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: New opportunity in Austin vs current employer in california
Replies: 36
Views: 2888

Re: New opportunity in Austin vs current employer in california

If you can get that in Austin, you can get that or more in the Bay Area.

But those numbers in Austin are way better than what you have... move for sure unless you want to find something else in the Bay Area.

-M
by mattsm
Mon Sep 28, 2020 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: 401K Overpayment - Ex Employer Asking for Money Back
Replies: 173
Views: 12601

Re: 401K Overpayment - Ex Employer Asking for Money Back

It doesn't sound like an illegal contribution.

Inform them your hourly rate for fixing all issues is $500/hr and a minimum of 40 hours.

-M
by mattsm
Wed Sep 09, 2020 9:01 pm
Forum: Personal Investments
Topic: Do I really own anything if everything can require a Medallion signature which I can never get?
Replies: 71
Views: 8045

Re: Do I really own anything if everything can require a Medallion signature which I can never get?

I needed one for a rollover of a 401(k). I wrote CALL MY NUMBER ON FILE DUE TO CURRENT CIRCUMSTANCES in lieu of the medallion and they called to confirm my identity. It's a little bit weird but in the end, it made sense.

-M
by mattsm
Tue Sep 08, 2020 11:05 am
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 71
Views: 10214

Re: House sale quandary - got offer from neighbor before agent listed house

You could offer your real estate agent 3% or whatever they would have gotten and eat it. They still do some stuff on the back end. You think the OP should pay an agent $10,000+ (probably) for doing a little paperwork a lawyer could do better? If it helps the OP sleep at night. They did agree to tho...
by mattsm
Tue Sep 08, 2020 11:04 am
Forum: Personal Consumer Issues
Topic: Managing Indoor Humidity
Replies: 62
Views: 3667

Re: Managing Indoor Humidity

Set the thermostat lower so it runs more, main reason we keep our house in Texas at 70-73 is simple to keep the humidity under control. Set the range to 2 degrees so it runs longer when it does come on and has time to ramp up and grab more water our of the air. 0.5 degrees will exacerbate the proble...
by mattsm
Mon Sep 07, 2020 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 71
Views: 10214

Re: House sale quandary - got offer from neighbor before agent listed house

You could offer your real estate agent 3% or whatever they would have gotten and eat it. They still do some stuff on the back end.
by mattsm
Sat Aug 01, 2020 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: To rent out, or to sell?
Replies: 20
Views: 1443

Re: To rent out, or to sell?

Rent a $500k home for $2.5k / month? The numbers simply DO NOT work. I'm in Austin thinking about renting or selling a place for $350k that rents for $2.3k-ish and the numbers don't work. EDIT: my home like yours is also upgraded, makes it worse for renting since you don't really get any extra premu...
by mattsm
Thu Jul 09, 2020 11:38 pm
Forum: Personal Investments
Topic: Is there a minimum time to work as a contractor to be able to contribute the full $19,500 for my emp solo 401k for 2020?
Replies: 9
Views: 613

Re: Is there a minimum time to work as a contractor to be able to contribute the full $19,500 for my emp solo 401k for 2

Employee contributions are 19.5k for the entire year across all plans. Employer contributions are separate.... and each company does not affect one another. E.g. your new jobs match does not affect your solo 401k employer contribution. I suggest looking at what you can do there online, but it's some...
by mattsm
Wed Jul 08, 2020 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can I have both self-employed 401k and 401K from a W2 job?
Replies: 3
Views: 545

Re: Can I have both self-employed 401k and 401K from a W2 job?

The personal limit is combined across accounts, so 19.5k (I think for 2020). ER contributions are independent of each plan.
by mattsm
Wed Jul 08, 2020 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Cancelling my disability insurance?
Replies: 9
Views: 971

Re: Cancelling my disability insurance?

The only thing to consider is personal DI is usually much better than what's given through a group setting.
by mattsm
Sun Jul 05, 2020 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Are we FINANCIALLY ready to buy our first house?
Replies: 11
Views: 1154

Re: Are we FINANCIALLY ready to buy our first house?

Yes assuming no other expensive indulgences and even then it's probably ok.
by mattsm
Wed Jul 01, 2020 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: OK to max out 2020 solo 401k now?
Replies: 12
Views: 681

Re: OK to max out 2020 solo 401k now?

I learned this the hard way. Don't do ER (employer) deferrals until as late as possible.

Dealing with overcontributions is a PITA, dealing with obscure forms that your CPA might not want to touch. Plus the penalties...

-M
by mattsm
Sat Jun 20, 2020 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Simple business checking: Azlo, Novo or Wells Fargo
Replies: 18
Views: 967

Re: Simple business checking: Azlo, Novo or Wells Fargo

FWIW, I did end up going with a local credit union. It paid off as I was emailing with bankers and more importantly their lending team and they actually pushed my PPP loan through when no one else would deal with my unique situation.
by mattsm
Sat Jun 20, 2020 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Simple business checking: Azlo, Novo or Wells Fargo
Replies: 18
Views: 967

Re: Simple business checking: Azlo, Novo or Wells Fargo

Azlo will not let you transfer money unless you can log in to the target bank and give credentials. I had to promptly close that useless account. For example, I could not transfer from my business to Fidelity Brokerage since it did not treat my brokerage as a cash account. I was able to mail a chec...
by mattsm
Fri Jun 19, 2020 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Simple business checking: Azlo, Novo or Wells Fargo
Replies: 18
Views: 967

Re: Simple business checking: Azlo, Novo or Wells Fargo

Azlo will not let you transfer money unless you can log in to the target bank and give credentials. I had to promptly close that useless account. For example, I could not transfer from my business to Fidelity Brokerage since it did not treat my brokerage as a cash account.
by mattsm
Fri Jun 19, 2020 9:55 am
Forum: Personal Consumer Issues
Topic: APPLE IPAD 10.2 7th gen - What do you use yours for?
Replies: 21
Views: 1482

Re: APPLE IPAD 10.2 7th gen - What do you use yours for?

I have the latest 10 in. and the Mini. I find the mini way more practical for holding while "at the couch" than the larger version.

-M
by mattsm
Wed Jun 17, 2020 10:49 am
Forum: Investing - Theory, News & General
Topic: Small business retirement (Guideline vs Employee Fiduciary)
Replies: 17
Views: 1302

Re: Small business retirement (Guideline vs Employee Fiduciary)

That's odd, I just rolled over my Fidelity Solo 401(k) to Guideline but maybe they made an exception since I had other companies with them in a controlled group. Overall they have been responsive and good. Things are finally getting settled now. I did not find much better at their price point. Super...
by mattsm
Wed Jun 03, 2020 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: Pros/cons of utilizing mortgage deferral
Replies: 56
Views: 2720

Re: Pros/cons of utilizing mortgage deferral

If I was eligible for something and was following the rules. I would do it. Just make sure you are following all the rules.

-M
by mattsm
Mon Jun 01, 2020 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?
Replies: 36
Views: 1643

Re: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?

Ah I wonder if you should just become an S-Corp first since your "wages" are too high if you need to hire you wife to offset them. This is why I think I concluded it wasn't worth in previous calulations. -M Thanks for the suggestion, though I think you're misunderstanding my aim here. Thi...
by mattsm
Mon Jun 01, 2020 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?
Replies: 36
Views: 1643

Re: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?

[/quote] Ah - I'm a sole proprietor, so I don't have a wage for myself - the entire net income of the business is income to me as it stands. I make above the FICA limit from my completely unrelated day job for a large corporation. [/quote] Ah I wonder if you should just become an S-Corp first since ...
by mattsm
Mon Jun 01, 2020 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?
Replies: 36
Views: 1643

Re: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?

So basically, if your own income is so high you are in a tax bracket like 35%+ it's better to add more 401k deferral space. What income level for the higher earner spouse do you think this makes sense? Well, not exactly. The 401k deduction should, I think, be worthwhile to just about anybody. If yo...
by mattsm
Mon Jun 01, 2020 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?
Replies: 36
Views: 1643

Re: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?

So basically, if your own income is so high you are in a tax bracket like 35%+ it's better to add more 401k deferral space. What income level for the higher earner spouse do you think this makes sense?
by mattsm
Mon Jun 01, 2020 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?
Replies: 36
Views: 1643

Re: Hiring Spouse Part Time For Small Business, Optimizing Solo 401k - Need To Track Hours?

I am curious about this, but I never saw the tax benefit of employing the spouse. Too much FICA taxes. Wondering how the math works in your head for your situation.
by mattsm
Sat May 30, 2020 2:13 pm
Forum: Personal Consumer Issues
Topic: New iPhone SE?? has anyone bought and used one?
Replies: 30
Views: 2708

Re: New iPhone SE?? has anyone bought and used one?

Totally fine just not as nice as high end one. And the bezels are large.
by mattsm
Fri May 29, 2020 4:36 pm
Forum: Personal Consumer Issues
Topic: New iPhone SE?? has anyone bought and used one?
Replies: 30
Views: 2708

Re: New iPhone SE?? has anyone bought and used one?

Long time Android/Google lover... don't LOVE this phone. Terrible in lots of ways... BUT I got it because 1) Update for 4-5 years 2) $400 (well less after rebates). Can't justify paying $800+ for an Android phone that get's updates for 2 years (sometimes less). Phone is fast, screen is crap but it w...
by mattsm
Sun May 17, 2020 10:08 am
Forum: Personal Consumer Issues
Topic: Must carry more than one credit card
Replies: 53
Views: 3800

Re: Must carry more than one credit card

If you travel it's good to keep a spare card in your luggage too if the wallet gets lost or stolen.

-M
by mattsm
Sun Apr 19, 2020 7:27 pm
Forum: Personal Investments
Topic: Back door Roth if spouse has traditional IRA?
Replies: 4
Views: 270

Re: Back door Roth if spouse has traditional IRA?

Watching. Always thought retirement accounts are considered separately but want to know the answer here.
by mattsm
Sun Apr 05, 2020 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 36640

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

Has anyone found a bank (national or otherwise) who will accept a PPP application without being a current member? I bank at Chase, but don’t have a business account setup with them (hindsight, I guess I should set one up now). So I have no current relationship with anyone to apply for the loan. TIA...
by mattsm
Thu Apr 02, 2020 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating unemployment benefits
Replies: 13
Views: 1306

Re: Estimating unemployment benefits

miamivice wrote: Thu Apr 02, 2020 10:04 pm Update 1: It looks like in my state that unemployment is capped at around $800/week.

That hurts. I currently make about $2800/month in income, so that is around a 75% reduction in income.
Waaa?
by mattsm
Tue Feb 18, 2020 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: First solo 401k contribution—employer/employee splits
Replies: 8
Views: 653

Re: First solo 401k contribution—employer/employee splits

I highly suggest waiting to do employer portion until all the tax items are closed in the following. They can contribute in the following year so you can be certain you don't overcontribute.

You can also do this over the phone, and transfer from one Fidelity account to another.

-M
by mattsm
Sun Feb 16, 2020 8:22 pm
Forum: Personal Investments
Topic: Fidelity Business Brokerage Account
Replies: 6
Views: 576

Re: Fidelity Business Brokerage Account

I’d love to hear also. This has been on my radar. FWIW I have used their brokerage account for my personal checking and savings and have had a great experience. If anyone uses it, along with any general experiences, 1) can you easily see who checks are made out to? Like can you click on a check and...
by mattsm
Sun Feb 16, 2020 8:21 pm
Forum: Personal Investments
Topic: Fidelity Business Brokerage Account
Replies: 6
Views: 576

Re: Fidelity Business Brokerage Account

I use it for my business. It works mostly as a checking account for me, without having the deal with a major bank that offers nothing for free. Fidelity however has everything for free and a decent interest rate. Nothing is really different than a normal brokerage except a few restrictions on transf...
by mattsm
Sat Feb 15, 2020 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Chase Amazon Prime Visa rebate reverted to 3% cash back
Replies: 15
Views: 3309

Re: Chase Amazon Prime Visa rebate reverted to 3% cash back

I think you need a Prime membership to earn the full 5%
by mattsm
Tue Feb 11, 2020 12:04 am
Forum: Personal Consumer Issues
Topic: Thoughts on buying cheap, used, short range EV
Replies: 87
Views: 5657

Re: Thoughts on buying cheap, used, short range EV

One issue with a short range EV is that, depending where you are, you may not save that much on gas. Because the EV only works for short commutes and around town driving (and not weekend getaways). And it's hard to rack up much mileage on short commutes. OP has a 22 mile RT commute. Say, 230 days o...