Search found 651 matches

by SRenaeP
Tue Jan 16, 2018 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: W2 Vs Last Pay Stub
Replies: 6
Views: 1086

Re: W2 Vs Last Pay Stub

Hi We usually get our W2's during the end of January from our employer. That is when we key in our numbers in some online tax service providers and get an estimate as how much refund/owe from IRS. Wondering instead of waiting for the W2, can we use our last pay stub from 2017 and use that as well t...
by SRenaeP
Tue Jan 16, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: State tax credits that can be bought/traded
Replies: 11
Views: 1417

Re: State tax credits that can be bought/traded

Unfortunately I do not psteinx. I've only on my 4th year and the firm has been doing it his way for a long time. I'm sure there is some sort of authority for the position, I just do not know it. Most of our clients purchase credits and have been audited and to my knowledge, this treatment has not b...
by SRenaeP
Wed Jan 03, 2018 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Any real estate lawyers here?
Replies: 13
Views: 825

Re: Any real estate lawyers here?

Thanks Steph. This is helpful. Would you think I'm best served to try to negotiate buying the land with the buyer, or to buy the lien and wait things out? I imagine it depends. Now that this has been filed with the courts, does everything have to go though the courts now, or can the court mess be a...
by SRenaeP
Wed Jan 03, 2018 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Any real estate lawyers here?
Replies: 13
Views: 825

Re: Any real estate lawyers here?

Disclaimer that I'm not a real estate lawyer. That said, I suspect the court is notifying you so that you can purchase the tax lien if you'd like. The timelines/process vary per jurisdiction but in general, purchasing the lien means that you pay all the back taxes. The current owner has a certain am...
by SRenaeP
Wed Jan 03, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Pay extra on Mortgage or save for car? Need Advice, Please!!
Replies: 29
Views: 1227

Re: Pay extra on Mortgage or save for car? Need Advice, Please!!

will the dealer even agree to a measly 5k loan? Probably not. We were in a similar situation when we purchased our last vehicle. The dealer's loan minimum was $15k. Therefore, we put down less of a down payment to hit the $15k. Once the loan was official/set up online, we made a lump sum payment of...
by SRenaeP
Fri Dec 29, 2017 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Donating shares from Vanguard
Replies: 17
Views: 1043

Re: Donating shares from Vanguard

OP may still have time to open a donor advised fund with VG shares, but I think that has a $25k minimum (although once you open the account you wouldn't have to contribute the entire $25k in a single year or to a single organization). This is why many people, including me, opt to open a Fidelity DA...
by SRenaeP
Wed Dec 27, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off Mortgage as a Gift
Replies: 11
Views: 1143

Re: Paying off Mortgage as a Gift

Could you use middlemen (friends/family) to gift to that gift the money to the parents? I think you're looking at tax evasion charges if you get too creative. https://www.bogleheads.org/forum/viewtopic.php?t=218481 To be clear I was asking for legal ways to minimize the tax. Please keep responses f...
by SRenaeP
Thu Dec 21, 2017 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Becoming a Landlord: My Experiences
Replies: 136
Views: 24340

Re: Becoming a Landlord: My Experiences

It's my preliminary understanding that we, as small business landlords, are in the category of passthroughs and that the tax in this category is capped at 25%. Can anyone confirm? I have not seen anything definitive but my understanding is the opposite. As a landlords (Schedule E income), we are *n...
by SRenaeP
Wed Dec 20, 2017 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: The Mega Backdoor Roth IRA
Replies: 424
Views: 148745

Re: The Mega Backdoor Roth IRA

Oscarguy, do not put this 401k money into tIRA followed by a conversion - that will require pro-rating with any other IRAs. The caveat is to this is you can do it *if* your 401k plan will then allow you to roll the tIRA money back into the pre-tax 401k. That way, you will have $0 basis in the tIRA ...
by SRenaeP
Wed Dec 20, 2017 8:26 am
Forum: Personal Finance (Not Investing)
Topic: LLC - accounting and taxes for 2017
Replies: 10
Views: 738

Re: LLC - accounting and taxes for 2017

From some windfall in this year - 2017 , I have formed an LLC and funded with some capital. LLC has a broad charter from commercial real estate to angle investing. However at this point, I am still not actively operating the LLC as I am in a research phase. I have a few questions. 1. Do I need to h...
by SRenaeP
Thu Dec 14, 2017 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Questions about donating appreciated fund shares
Replies: 8
Views: 658

Re: Questions about donating appreciated fund shares

So, our taxable fund has more than doubled, and I really want to give some of these fund shares to charity instead of using cash, but it seems like such a pain! I am trying to use VG's form for donating securities, but apparently I must have a brokerage account to pull this off. I have filled out t...
by SRenaeP
Thu Dec 14, 2017 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Recast mortgage as part of a pay down strategy
Replies: 60
Views: 2979

Re: Recast mortgage as part of a pay down strategy

Given that you're committed to paying the original amount of the mortgage payment or more, I see little benefit to recast every year. If your financial situation changes and you need a lower payment to make ends meet, you can recast as needed for no fee. +1 I am in a similar situation and actually ...
by SRenaeP
Wed Dec 13, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Rental properties, legal structure
Replies: 4
Views: 451

Re: Rental properties, legal structure

My wife and I have w2 wages about 200k, we max 401k, we max Roth as allowed by income, and I have sep-ira from a small/part time side company I own. We have 15yr @3% mortgage. We own 3 rental properties all with modest mortgages. Right now all 3 are owned only be me(deeded my name only) and reporte...
by SRenaeP
Fri Dec 08, 2017 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: QUESTION ANSWERED NO HELP NEEDED - mortgage escrow payment added to principal balance and charged interest each month
Replies: 18
Views: 759

Re: mortgage escrow payment added to principal balance and charged interest each month

My statements work like this: November principal balance is 100,000 and my interest rate is 3.875% monthly payment total: 2000 monthly interest: 322.92 escrow: 450 principal reduction: 1,227.08 principal balance after payment: 98,772.92 (you see here they add the interest AND the escrow amount to g...
by SRenaeP
Fri Dec 08, 2017 10:37 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2371
Views: 439064

Re: What's Your Credit Card Rewards Strategy?

Anyone have suggestions for a good sign-on bonus? The flights I want are $1500 in May on either Delta or Air France. For whatever reason, Delta doesn't have any award tickets so I need a card with points vs SkyMiles. I was thinking about the Amex Platinum but it would only save me ~$500 on the airfa...
by SRenaeP
Wed Dec 06, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle Taxes
Replies: 18
Views: 2333

Re: Side Hustle Taxes

I don't think the business aspect makes any changes to taxes. One would still file Schedule C as a Sole Proprietary whether one had called it a business or not, right? For instance, a solo 401(k) can be used by that sole proprietorship without registering the business anywhere. Anecdotal data says ...
by SRenaeP
Wed Dec 06, 2017 8:16 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2371
Views: 439064

Re: What's Your Credit Card Rewards Strategy?

I write a big rent check every month. My apartment management accepts credit cards @ 2.25% for Visa, 3% for Amex. I'm not angling for any bonuses right now, but trying to think of a scenario where it might be a net gain to pay by credit card. I have Amex Blue Business, but that would a loss I think...
by SRenaeP
Wed Dec 06, 2017 8:15 am
Forum: Investing - Help with Personal Investments
Topic: In-plan rollover of after-tax 401k contributions
Replies: 18
Views: 1630

Re: In-plan rollover of after-tax 401k contributions

Compared to many plans, limiting IRRs to one per year is restrictive. Adding a $100 fee is also not participant friendly. Don't know why they would need both restrictions, but the added level of plan accounting necessary with IRR adoption does come with a cost. It is not clear how the plan defines ...
by SRenaeP
Tue Dec 05, 2017 7:24 pm
Forum: Investing - Help with Personal Investments
Topic: In-plan rollover of after-tax 401k contributions
Replies: 18
Views: 1630

Re: In-plan rollover of after-tax 401k contributions

Compared to many plans, limiting IRRs to one per year is restrictive. Adding a $100 fee is also not participant friendly. Don't know why they would need both restrictions, but the added level of plan accounting necessary with IRR adoption does come with a cost. It is not clear how the plan defines ...
by SRenaeP
Tue Dec 05, 2017 5:19 pm
Forum: Investing - Help with Personal Investments
Topic: In-plan rollover of after-tax 401k contributions
Replies: 18
Views: 1630

Re: In-plan rollover of after-tax 401k contributions

I'm also interested in this topic as my employer has just started allowing in-plan Roth conversions. I already have a balance in my after-tax 401k but am considering upping my contributions as much as possible to take advantage. There are penalties for doing an in-service withdrawal so that's not an...
by SRenaeP
Mon Nov 27, 2017 8:51 am
Forum: Personal Consumer Issues
Topic: Google Project Fi - "Device Protection" problem
Replies: 36
Views: 2720

Re: Google Project Fi - "Device Protection" problem

If any of you who are having phone issues purchased via CC, consider making a claim through the CC company. My 1.5 year old Nexus 5x died on me about two weeks ago. Neither Google nor LG were very responsive so I filed a claim with AmEx (they automatically double the warranty on purchases). I got a ...
by SRenaeP
Wed Nov 22, 2017 10:04 am
Forum: Personal Consumer Issues
Topic: What are the things you want to do between 55 and 65?
Replies: 140
Views: 10712

Re: What are the things you want to do between 55 and 65?

Ms G. and I retired in 2006 ages 50 and 54, I am now 66 bought a rancho 30 miles from Mexico. We are both active, hiking, running, walking, have lots of critters to keep us busy. Currently we only take active trips, cruising on small ships, kayaking, snorkeling, hiking. We are also starting walking...
by SRenaeP
Mon Nov 20, 2017 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Do I have to report a thank-you dinner as income to the IRS?
Replies: 15
Views: 2436

Re: Do I have to report a thank-you dinner as income to the IRS?

You are legally allowed to gift an individual $14k a year. So you can gift them your service and they can gift you their appreciation. You can't do this if you are doing the service for their business. It's called personal not business gift. There is a business gift exception of only $25.00. I'm pr...
by SRenaeP
Mon Nov 20, 2017 8:22 am
Forum: Personal Consumer Issues
Topic: Best places to stay/visit in Panama
Replies: 6
Views: 677

Re: Best places to stay/visit in Panama

I have heard they have a canal that goes between the Pacific Ocean and the Atlantic Ocean (more or less). That would be something to see. Meh. I found the Panama Canal mildly interesting but not particularly enthralling. I second the recommendations for Boquete and Bocas del Toro. I wouldn't spend ...
by SRenaeP
Mon Nov 20, 2017 8:09 am
Forum: Personal Consumer Issues
Topic: How much do you budget for vacation?
Replies: 94
Views: 5992

Re: How much do you budget for vacation?

We don't budget for anything except saving/investing. We spend 6-7% of gross income annually on travel. For reference, we're early 40s DINKs who love to travel. We typically do (per year) one international trip, one long weekend skiing, one weeklong ski trip, one weeklong beach trip and a couple of ...
by SRenaeP
Thu Nov 16, 2017 1:38 pm
Forum: Personal Consumer Issues
Topic: Upgrading a flight - what are your rules?
Replies: 40
Views: 3839

Re: Upgrading a flight - what are your rules?

My rule of thumb is asking myself what I could do with the cost of the upgrade when I arrive at my destination and if that is worth more to me than a few hours of discomfort. $1000 in Hawaii could make a lot of memories for a family. I've seen a few posters make similar statements. Are you saying t...
by SRenaeP
Wed Nov 15, 2017 4:33 pm
Forum: Personal Consumer Issues
Topic: Upgrading a flight - what are your rules?
Replies: 40
Views: 3839

Re: Upgrading a flight - what are your rules?

BV3273 wrote:
Mon Nov 13, 2017 9:48 pm
Personal preference. For me anything over 3-4 hours is worth the upgrade. I find it miserable having someone's seat reclined and in my face.
Ditto. I upgrade to economy plus for anything more than ~3 hours unless I am able to book the exit row or bulkhead when making my reservation.

-Steph
by SRenaeP
Wed Nov 15, 2017 3:40 pm
Forum: Personal Consumer Issues
Topic: Another Smart Phone Thread, Low/Mid priced phones and carriers
Replies: 53
Views: 3831

Re: Another Smart Phone Thread, Low/Mid priced phones and carriers

Try Google Fi with a Google Nexus 5x phone (by LG). Great phone, great service, and it works in 135+ countries or so. Pay as you go: my bill is usually am under $30/ month; of course I'm not streaming videos all day. I was with Verizon for over 25 years (it was Airtouch back then), and have had man...
by SRenaeP
Fri Nov 10, 2017 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Why make more money?
Replies: 134
Views: 13588

Re: Why make more money?

Maybe we can also ask: why NOT make more money? Because after a certain level of need is met, many people value their time more than money. If that were not the case, many many people would have one or two part-time jobs in addition to their full-time jobs. For a lot of people, the goal is not to m...
by SRenaeP
Fri Nov 10, 2017 10:18 am
Forum: Personal Finance (Not Investing)
Topic: PayPal alternative?
Replies: 47
Views: 2705

Re: PayPal alternative?

But after finding out about the terrible PP customer service, I'm wondering if there's a good alternative. This is an issue for eBayers -- your family members aren't likely to claim that they never got the cash, are they? :happy Not sure where customer service would even factor in here. My kids swe...
by SRenaeP
Fri Nov 10, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: PayPal alternative?
Replies: 47
Views: 2705

Re: PayPal alternative?

But after finding out about the terrible PP customer service, I'm wondering if there's a good alternative. This is an issue for eBayers -- your family members aren't likely to claim that they never got the cash, are they? :happy Not sure where customer service would even factor in here. My kids swe...
by SRenaeP
Fri Nov 10, 2017 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Why make more money?
Replies: 134
Views: 13588

Re: Why make more money?

Reading from this thread, there are folks that wouldn't want to be at their job if not for money. They rather spent time at home and/or other leisure activities. It's sad that this group cannot find purpose and fulfillment with their career. It's horrible if you spend your entire working life witho...
by SRenaeP
Thu Nov 09, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Declaring Tutoring Income
Replies: 16
Views: 2588

Re: Declaring Tutoring Income

there are several ways to avoid income tax on tutoring. ... 2. If she has a dedicated area such as a room that she uses to tutor students she can deduct up to $5 x the square feet of the room (up to $1500) as a home office deduction under IRS safe harbor. ... Note that dedicated really means dedica...
by SRenaeP
Wed Nov 08, 2017 4:21 pm
Forum: Personal Consumer Issues
Topic: Another Smart Phone Thread, Low/Mid priced phones and carriers
Replies: 53
Views: 3831

Re: Another Smart Phone Thread, Low/Mid priced phones and carriers

I see the G5 Plus 64GB/4GB is on newegg for $225 as well, with a free Bluetooth speaker. https://www.newegg.com/Product/Product.aspx?Item=N82E16875209506&cm_re=g5_plus-_-75-209-506-_-Product Good point on the updates and security. I am probably oblivious to these, as I am on Android 4.something wit...
by SRenaeP
Wed Nov 08, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Why make more money?
Replies: 134
Views: 13588

Re: Why make more money?

Didn't Keynes predict that we would all be working 15 hours a week due to productivity gains? Perhaps that is exactly what we are seeing? However, instead of working their entire lives work 1/3rd the hours each week, we are seeing people choosing to work the full 40-45 hours, but do it for only 1/3...
by SRenaeP
Tue Nov 07, 2017 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Why make more money?
Replies: 134
Views: 13588

Re: Why make more money?

"Thou Shall Prosper" by Rabbi Lapin has an interesting non-Boglehead take, recommending never retiring. He says getting paid shows someone values your work, you are adding value, so you should continue adding value to society by working. I recently finished this book (it took a couple of years to r...
by SRenaeP
Wed Oct 25, 2017 8:24 am
Forum: Investing - Help with Personal Investments
Topic: SEP-IRA vs backdoor
Replies: 7
Views: 608

Re: SEP-IRA vs backdoor

Thanks for your responses! A couple of follow-up questions: 1) I understand now that the effective max contribution for a SEP IRA is 20%. 2) Can I do a SOLO 401K if I already have a 401K through my W2 earnings? 3) It sounds like it's not a good idea to do both a SEP-IRA and a backdoor conversion ("...
by SRenaeP
Wed Oct 25, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Does anyone here with net worths north of $1 mil use financial advisors?
Replies: 175
Views: 18842

Re: Does anyone here with net worths north of $1 mil use financial advisors?

The few times I've ever entertained using an FA, I always leave the meeting disgusted. I always know more than they do and they seem rather useless. However, I plan to meet with a fee-only CFP once the mortgage is paid off in order to get a sanity check as to if DH and I can semi-retire at that poin...
by SRenaeP
Mon Oct 16, 2017 10:42 am
Forum: Investing - Help with Personal Investments
Topic: Is it possible to have a Traditional 401(k), Roth 401(k), Traditional IRA, and a Roth IRA account at the same time?
Replies: 23
Views: 1393

Re: Is it possible to have a Traditional 401(k), Roth 401(k), Traditional IRA, and a Roth IRA account at the same time?

A while ago I asked a question about Mega Backdoor Roth, and long story short I was told that I could open a Roth 401k account within my company, and contribute a maximum of 10% of my income to my 401(k) as after-tax contributions, then roll over the after-tax contributions to my Roth 401k along wi...
by SRenaeP
Fri Oct 13, 2017 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Tradelines
Replies: 37
Views: 2554

Re: Selling Tradelines

I wouldn't do it. I don't want a stranger with bad credit associated with my name, address or credit.

-Steph
by SRenaeP
Fri Oct 13, 2017 11:39 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2371
Views: 439064

Re: What's Your Credit Card Rewards Strategy?

Does closing a credit card after 1 year impact my credit in a significant way? Am I better off keeping these reward cards open? My score is around 820, no debt other than mortgage If we're talking just one card, probably not. I'm a light churner (hit the 5/24 wall) and my score has dropped to the 7...
by SRenaeP
Thu Oct 12, 2017 8:28 am
Forum: Personal Consumer Issues
Topic: First visit to Hawaii (flight, Amex Plat benefits, extend stay?)
Replies: 53
Views: 4113

Re: First visit to Hawaii (flight, Amex Plat benefits, extend stay?)

Hi All, We're planning a 5-night stay at the Grand Hyatt in Kauai for my friends wedding in Sep 2018. Very excited!! For the HI folks...I have a couple of questions: 1. Re: the flight - we have enough Delta miles saved up to book C+ seats...have never flown anything but regular economy before on an...
by SRenaeP
Tue Oct 10, 2017 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Temporary Job Relocation
Replies: 8
Views: 853

Re: Temporary Job Relocation

As far as finances are concerned, I would also like the input from others here. I feel that I am in good shape but could always improve. I have been told that my employer would pay for my housing during this project (apartment rental). Two things I would like to get negotiated are my employer reimb...
by SRenaeP
Tue Sep 12, 2017 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card with large cash (or cash-equivalent) sign-up bonus
Replies: 25
Views: 3184

Re: Credit card with large cash (or cash-equivalent) sign-up bonus

The Citi Prestige currently has a 75K bonus on $7.5 spend. The points can be converted to statement credit at 1 cent per point. It does have a $450 annual fee. It also has a $250 airline credit you can "double dip" the first year, so potentially another $500 in cash back. If you don't spend on airl...
by SRenaeP
Tue Sep 12, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Tips on helping spouse feel that we are truly FI?
Replies: 18
Views: 1684

Re: Tips on helping spouse feel that we are truly FI?

What's your end goal here? To convince your wife she should quit her job? If she doesn't want to, why push? Like another poster suggested, if she's okay with continuing to work and you quit, just do that. DH is more conservative than I am about what it means to be FI. In addition, he doesn't mind wo...
by SRenaeP
Thu Aug 24, 2017 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2371
Views: 439064

Re: What's Your Credit Card Rewards Strategy?

Thanks! We have (and will keep long term) a CSP already...so we get 2X on travel/dining and primary rental coverage. I've done the math and the jump to 3X for the CSR is not good for us long term. The higher AF plus the fee for an A/U (so we can transfer UR points to each others loyalty accounts - ...
by SRenaeP
Thu Aug 24, 2017 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2371
Views: 439064

Re: What's Your Credit Card Rewards Strategy?

Thanks! We have (and will keep long term) a CSP already...so we get 2X on travel/dining and primary rental coverage. I've done the math and the jump to 3X for the CSR is not good for us long term. The higher AF plus the fee for an A/U (so we can transfer UR points to each others loyalty accounts - ...
by SRenaeP
Wed Aug 23, 2017 11:38 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2371
Views: 439064

Re: What's Your Credit Card Rewards Strategy?

We're traveling in Dec and then to HI in Sep 2018 (to, from, plus an island hop) for sure...plus probably another flight mixed in there somewhere. Right now I'm eyeing cards that offer the GE or precheck credit because I'd like to nab that for all these flights coming up, and not eligible for the C...
by SRenaeP
Wed Aug 23, 2017 7:18 am
Forum: Personal Finance (Not Investing)
Topic: School Redistricting - What should we do?
Replies: 96
Views: 8199

Re: School Redistricting - What should we do?

Option 5. Rent an apartment in a good school district. For example, a 1-bedroom apartment for $1,500/month, or $18k/year, will be cheaper than 2 x $25k = $50/year for a private school. School administrators already know about this trick (and the PO box). They can do a visit to the student's listed ...
by SRenaeP
Mon Aug 21, 2017 9:35 am
Forum: Personal Finance (Not Investing)
Topic: LLC + tax deductions
Replies: 5
Views: 595

Re: LLC + tax deductions

Hello wise sages, I plan to quit my full-time day job and get into consulting and contracting work. In preparation, I have opened an LLC to help me protect my personal finances. The next thing I need to do is to research deductions, depreciation, tax benefits etc. Is there any good (hopefully free)...