Search found 1776 matches

by Chip
Sat Jan 20, 2018 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Form 1099-R IRA/SEP/SIMPLE box affecting refund
Replies: 52
Views: 1766

Re: Form 1099-R IRA/SEP/SIMPLE box affecting refund

I want to thank everyone for the great feedback on this minor tax situation. I am pursuing the understanding & details of the Sales Tax Deduction calculation. I see even the IRS has a Sales Tax Calculator at: https://apps.irs.gov/app/stdc/stdc.html?_page=11&_cancel The IRS calculator gives exactly ...
by Chip
Thu Jan 18, 2018 9:12 am
Forum: Personal Consumer Issues
Topic: How do you adjust side mirrors in a car?
Replies: 61
Views: 3353

Re: How do you adjust side mirrors in a car?

I do it the way you do. I agree, no one else seems to get it and they think I'm weird. But maybe it's not just for my mirror adjusting technique....
by Chip
Thu Jan 18, 2018 9:10 am
Forum: Investing - Help with Personal Investments
Topic: 423b Employee Stock Purchase Plan Share Conversion
Replies: 2
Views: 97

Re: 423b Employee Stock Purchase Plan Share Conversion

In the conversion to common shares, I will continue to be the owner of the shares and the shares will retain identical value. The share class will be the only change. I've tried calling the IRS to get an answer (no luck), reading publication 525 and 550 (no help), and extensive internet searches (a...
by Chip
Thu Jan 18, 2018 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Confusion about prepaying property taxes
Replies: 124
Views: 12203

Re: Confusion about prepaying property taxes

This is whats weird about it...when I called the county I had no idea the assessement was done, neither did the employee I spoke to (there was just one when I went there), so I had to guesstimate my amount (over payed by almost $500). Later IRS issued its statement which prompted me to go to the we...
by Chip
Wed Jan 17, 2018 4:12 pm
Forum: Investing - Help with Personal Investments
Topic: Bond investing for a very long retirement?
Replies: 35
Views: 2433

Re: Bond investing for a very long retirement?

Perhaps up to 100% is extreme even if earlyretirementnow calculations show it to be WAS ideal for a 60 year retirement. Perhaps 80/20 might provide a nice middle ground approach. The nice aspect of a slow glide up is that I can stop the upward trend at any point if I feel uncomfortable. I fixed tha...
by Chip
Wed Jan 17, 2018 2:01 pm
Forum: Investing - Help with Personal Investments
Topic: Bond investing for a very long retirement?
Replies: 35
Views: 2433

Re: Bond investing for a very long retirement?

Chip: remember I will have no RMDs, retirement account is all ROTH. My withdrawal rate is forecast to be less than 2%. Some people might argue that a 100% stock portfolio could make sense if I can simply live off a 2% stock dividend. I am hesitant to do that given the current CAPE level of greater ...
by Chip
Wed Jan 17, 2018 12:44 pm
Forum: Investing - Help with Personal Investments
Topic: FSTVX - Fidelity Total Stock Index - Tax Implications
Replies: 22
Views: 1357

Re: FSTVX - Fidelity Total Stock Index - Tax Implications

One thought is if the market tanks, and there are no capital gains, sell and but an Vanguard ETF, VTI. Any other thoughts ( Already have the thought, give it to charity and so stuff ) I think those are the only options unless something else you own in taxable ends up with a large capital loss you c...
by Chip
Wed Jan 17, 2018 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: New Tax Bill: State tax refunds
Replies: 4
Views: 458

Re: New Tax Bill: State tax refunds

However, how does this apply on the new bill because there is a cap? Said another way, even if I itemize, I can only benefit up to $10k on SALT. If my withholding was $12k and I received a refund of $1k because my liability was $11k, would that $1k refund be taxable because I claimed a benefit on t...
by Chip
Wed Jan 17, 2018 12:09 pm
Forum: Investing - Help with Personal Investments
Topic: Rolling both tIRA and Roth to Fidelity - Should I roll them into one?
Replies: 4
Views: 147

Re: Rolling both tIRA and Roth to Fidelity - Should I roll them into one?

-Roll the tIRA to the Roth and pay taxes -Keep both, use 2017/2018 contributions to bring tIRA up to 2500 minimum. -Keep both, and invest the tIRA in ETF's instead of mutual funds? While continuing to put all 2017/2018 contributions into the Roth. Is that it? I'm assuming the first option is prefer...
by Chip
Wed Jan 17, 2018 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Form 1099-R IRA/SEP/SIMPLE box affecting refund
Replies: 52
Views: 1766

Re: Form 1099-R IRA/SEP/SIMPLE box affecting refund

Why is it that when you enter data from Form 1099-R data into TurboTax (2017) and check the box of IRA/SEP/SIMPLE it affects the dollar amount of the refund (it decreases the refund when this box is checked). I know that this box tells the IRS that the Roth conversion did not come from a 401k. What...
by Chip
Wed Jan 17, 2018 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Confusion about prepaying property taxes
Replies: 124
Views: 12203

Re: Confusion about prepaying property taxes

Our property taxes are accessed for Jan-June and July to Dec of the same year. But billed the following year. So, for 2016 property taxes (both Jan-June and July-Dec), I get an invoice in early part of 2017. Which I pay in 2017 and deduct in my 2017 taxes. However, when I looked in December they ha...
by Chip
Wed Jan 17, 2018 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Form 1099-R IRA/SEP/SIMPLE box affecting refund
Replies: 52
Views: 1766

Re: Form 1099-R IRA/SEP/SIMPLE box affecting refund

^And if this was a "backdoor" Roth conversion and there is a significant number on 15b that you weren't expecting, you haven't made all the entries you need to in the tax software.
by Chip
Wed Jan 17, 2018 8:26 am
Forum: Investing - Help with Personal Investments
Topic: Bond investing for a very long retirement?
Replies: 35
Views: 2433

Re: Bond investing for a very long retirement?

1. Would you convert the individual municipals to a municipal bond FUND to increase liquidity and decrease the chances that I have to hold many of these bonds (if they don't get called) until I am in my late 60s or early 70s? But at least I am guaranteed to get my 25K principal per bond back if I h...
by Chip
Tue Jan 16, 2018 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 168
Views: 10693

Re: Stats on When People Take Social Security

hoops777 wrote:
Tue Jan 16, 2018 5:38 pm
What I do not understand is why they allow file and suspend.They are running out of money but they choose to give free money to probably mostly wealthier people who use it for play money.
File and suspend isn't allowed anymore. It went away on 4/30/16.
by Chip
Tue Jan 16, 2018 5:35 pm
Forum: Investing - Help with Personal Investments
Topic: Question for Retired BH, over 59.5 with Roth Acct
Replies: 10
Views: 765

Re: Question for Retired BH, over 59.5 with Roth Acct

Basically the same as you; B & D. A is unlikely unless we really ramp up spending.
by Chip
Tue Jan 16, 2018 5:12 pm
Forum: Investing - Help with Personal Investments
Topic: too complacent?
Replies: 10
Views: 1121

Re: too complacent?

Hi, and welcome! One thing you might do is look ahead to your tax picture once you are 70.5 and receiving both social security and RMDs. With RMDs starting at about 75k (3.7% of 2M) and taxable SSA of 31k (85% of 36k) your federal gross income will be somewhere around 225k. With the new standard ded...
by Chip
Tue Jan 16, 2018 3:59 pm
Forum: Investing - Theory, News & General
Topic: Case study Broker trade executions
Replies: 212
Views: 21736

Re: Case study Broker trade executions

Does it matter that jhfenton's test with VSS was for only one share? I don't want to go back and reread the thread, but I seem to remember some info that odd lot orders might receive different (and more favorable) treatment than 100+ share orders. On the flip side, I was thinking of a MOO buy order ...
by Chip
Mon Jan 15, 2018 4:49 pm
Forum: Investing - Theory, News & General
Topic: Withdrawal sequencing
Replies: 19
Views: 1827

Re: Withdrawal sequencing

The standard ded is 24,000 plus 3,200 for age 65 couple(65 at any time during the tax year), plus 3000.00 ded for tax harvested losses that can be used to reduce income by 3000.00. Total of 30,200.00 income with 0 tax bill. A minor nitpick: The additional standard deduction for over 65 couples is $...
by Chip
Mon Jan 15, 2018 4:03 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie question on asset allocation: tax efficiency and various accounts
Replies: 5
Views: 338

Re: Newbie question on asset allocation: tax efficiency and various accounts

2. For the first tax rate table, right-most col, why do the long-term capital gains follow income tax rate instead of being 15% most of the time? I am sure I am missing something here. Could you please elaborate? The two right most columns in the first table are for special types of capital gains (...
by Chip
Mon Jan 15, 2018 3:55 pm
Forum: Investing - Help with Personal Investments
Topic: Newbie question on asset allocation: tax efficiency and various accounts
Replies: 5
Views: 338

Re: Newbie question on asset allocation: tax efficiency and various accounts

1. In Line "taxes due on withdrawal" of the first col in Table 11.2, how is the number $100.499K calculated? Shouldn't this be 0 just as in Table 11.3 since all the taxes have already been factored into the $820.49K value after 30 years? 2. The calculations in Table 11.3 didn't consider stock divid...
by Chip
Mon Jan 15, 2018 3:23 pm
Forum: Investing - Help with Personal Investments
Topic: If i open a new ira w wife will i get tax benefits from old investments?
Replies: 3
Views: 200

Re: If i open a new ira w wife will i get tax benefits from old investments?

Wife has old 401k and no longer working. Will file jointly for first time this year. Can i claim this as a deduction when she already used it for her deduction years ago before we married? No. Deductions are for contributions only. And they don't even show up on the tax return as "deductions". They...
by Chip
Sat Jan 13, 2018 6:52 am
Forum: Personal Finance (Not Investing)
Topic: COBRA alternative for 1 month? (it's $2,400 per month!)
Replies: 69
Views: 3352

Re: COBRA alternative for 1 month? (it's $2,400 per month!)

TwstdSista wrote:
Sat Jan 13, 2018 6:46 am
(PS -- I know the correct term is "viola!" but I do not care)
I always thought a viola was a stringed instrument a little larger than a violin.

I had an adverse reaction to that spelling of voila! :twisted:
by Chip
Sat Jan 13, 2018 6:25 am
Forum: Investing - Help with Personal Investments
Topic: 100% VTSAX (Vanguard Total Stock Mkt Idx Adm)??
Replies: 70
Views: 5452

Re: 100% VTSAX (Vanguard Total Stock Mkt Idx Adm)??

I'm looking at $4600 a month in retirement pay that's roughly about Annually $55200.. I now have 68k in VTSAX and 27k in my Roth Vanguard2040 fund. I went through a divorce that put a 70k dent in my investments about 7 yrs ago. Your are welcome. I guess my question is why are you putting money in a...
by Chip
Sat Jan 13, 2018 4:48 am
Forum: Personal Finance (Not Investing)
Topic: 2018 Retirement Checklist.
Replies: 16
Views: 2619

Re: 2018 Retirement Checklist.

Have you looked into you collecting earlier than 66 so your husband can collect spousal benefits at age 66 and receive $11.5K a year until he turns 70 when he claims his own benefits and receives $45K a year? This isn't an option for the OP. Since they both turn 64 in August that means they were bo...
by Chip
Fri Jan 12, 2018 4:43 am
Forum: Personal Finance (Not Investing)
Topic: Who should claim dependent?
Replies: 5
Views: 422

Re: Who should claim dependent?

According to Publication 501 (section: qualifying child of more than one taxpayer), the IRS has rules for this situation. Based on the facts given in your post and assuming all three of you lived together all year, the parent with the higher AGI can claim the child. While your incomes may be very c...
by Chip
Mon Jan 08, 2018 1:52 pm
Forum: Personal Consumer Issues
Topic: New Honda CRV - first oil change full synthetic?
Replies: 72
Views: 4539

Re: New Honda CRV - first oil change full synthetic?

That's what I suspected. So, if I go to a synthetic with extended life I'm going to have to not mind the Maintenance Minder and put some duct tape over that thing on my display? You're overthinking this. Change the oil according to the maintenance minder, when it's at 15% oil life or below. Use the...
by Chip
Mon Jan 08, 2018 1:36 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 1631

Re: Portfolio Simplification and Overview

retiredjg, Thanks for weighing in. Good catch on the 401k+403b contribution limit. I shouldn't have missed that. I didn't write the bit about the bonds very well. I also think 80/20 is reasonable for the portfolio. I just think the OP is perhaps discounting the effect of the debt on his overall port...
by Chip
Mon Jan 08, 2018 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 1631

Re: Portfolio Simplification and Overview

When you suggest the Vanguard Target Date 2035 do you mean in both my current 403 and old 403b or just the current one. The ER when compared to the funds I'm contributing to in my current 403b are comparable when the administrative fee and cost reduction is factored in. The target funds in my old 4...
by Chip
Mon Jan 08, 2018 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Identity Theft - Social Security Claim & Green Dot Bank Debit
Replies: 13
Views: 1352

Re: Identity Theft - Social Security Claim & Green Dot Bank Debit

Thanks for the very informative posts. I'm glad you are getting it resolved.
by Chip
Mon Jan 08, 2018 11:00 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 1631

Re: Portfolio Simplification and Overview

Assuming I get my financial house in order and pay down the loans like everyone has suggested how does my plan seem? My questions were related to minimizing fees and optimal fund placement, so hopefully someone can chime in there. How about what I suggested in question number two regarding keeping ...
by Chip
Mon Jan 08, 2018 6:22 am
Forum: Investing - Help with Personal Investments
Topic: Please critique my current portfolio
Replies: 1
Views: 246

Re: Please critique my current portfolio

Hi, and welcome to the forum! Your savings rate looks impressive, though you don't mention your income or expenses. I'm a little confused about the 54k of contributions to the 401k. It would seem that this has to be a solo 401k but then you mention a company match. I'm trying to square this with the...
by Chip
Sun Jan 07, 2018 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 1631

Re: Portfolio Simplification and Overview

I didn’t necessarily say I’m looking to buy bonds. If I did that was unintentional. I’m talking about a taxable account in either vanguard total stock or international so adhere to the three fund portfolio. Your desired AA is 80/20. Therefore you are buying/owning bonds. It's just that simple.
by Chip
Sun Jan 07, 2018 9:49 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 1631

Re: Portfolio Simplification and Overview

Once the 6.8% loan is gone the remainder is lower. Then is it appropriate to start the taxable and 529 accounts? It doesn't seem appropriate to me. You will still have loans with interest rates higher than the yields on the bonds you are buying. It appears to me that you likely have a negative net ...
by Chip
Sun Jan 07, 2018 9:09 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Simplification and Overview
Replies: 23
Views: 1631

Re: Portfolio Simplification and Overview

Is there any additional information that anyone would like to see? I believe I've included all my relevant info, but maybe not. I'm surprised I haven't really had any critiques of my fund placement yet, just about loan rates. I'm looking forward to suggestions regarding optimizing my investments in...
by Chip
Sat Jan 06, 2018 10:53 am
Forum: Investing - Help with Personal Investments
Topic: Seeking advice on setting up retirement cash flow
Replies: 22
Views: 1777

Re: Seeking advice on setting up retirement cash flow

Wow, that's a lot of funds. If I did the addition correctly you have 1.6M in taxable, 3.4M in pre-tax and .2M in Roth. You need 115k/year plus 24k (health ins.) plus 35k/7 (car) plus travel (30k?) plus income taxes? Then lump sum expenses of grad school (net 100k after stipends?) plus 2nd home (325k...
by Chip
Sat Jan 06, 2018 5:06 am
Forum: Personal Consumer Issues
Topic: Water filtration system - worth it?
Replies: 37
Views: 2688

Re: Water filtration system - worth it?

Vinegar does not work. Vinegar will work on your faucets if you let it sit long enough and use it multiple times. I soak a rag in it and wrap it around the faucet, leave it for 15 minutes, then scrub a little. Then, as the saying goes, rinse and repeat. An alternative is to buy something that is mo...
by Chip
Sat Jan 06, 2018 4:25 am
Forum: Investing - Theory, News & General
Topic: international: low ER, low TCR, but not both
Replies: 21
Views: 955

Re: international: low ER, low TCR, but not both

You're interested in 23 different funds but "not into it enough" to figure something out for yourself when triceratop has provided a complete calculation framework that only needs data input? :shock: Corrrect. It is not only input data. It is also then having two different ways of doing the computa...
by Chip
Fri Jan 05, 2018 4:27 pm
Forum: Investing - Theory, News & General
Topic: international: low ER, low TCR, but not both
Replies: 21
Views: 955

Re: international: low ER, low TCR, but not both

The international funds that I'm most interested in at the moment are: VT, VXUS, VEA, SPDW, IDEV, SCHF, IEFA, FTIPX, VEU, ACWX, CWI, FSIVX, DIISX. (I'm interested in complementing IEMG and a prospective future international small cap value fund that currently does not exist.) The domestic funds tha...
by Chip
Thu Jan 04, 2018 11:10 am
Forum: Investing - Help with Personal Investments
Topic: ESOP distribution
Replies: 13
Views: 720

Re: ESOP distribution

I am already maxing my 401k and I don't qualify for any roth or tIRA due to income limits (203K combined AnnualGrossIncome). You can contribute to this IRA, you just can't deduct the contribution from your income when you do your taxes. If you do this make sure to file Form 8606 with the tax return...
by Chip
Thu Jan 04, 2018 10:54 am
Forum: Personal Consumer Issues
Topic: Effects of extreme cold weather
Replies: 107
Views: 9625

Re: Effects of extreme cold weather

I dont know why they didn't work in the cold... there wasn't any ice in it, and it doesn't look like anything shrunk from cold enough to prevent the limiter from making contact. Thanks for the update. I did nothing to "fix" mine. After trying repeatedly to close it electrically I disconnected the d...
by Chip
Wed Jan 03, 2018 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Multiple Roth Accounts - no longer needed?
Replies: 7
Views: 776

Re: Multiple Roth Accounts - no longer needed?

Before I merge the newly converted Roth funds into my older existing account I just wanted to confirm there is no practical reason to keep multiple Roths. Thoughts? There is no reason to keep multiple Roth accounts anymore. My conversions this year will be into my main Roth account. My old "horse r...
by Chip
Wed Jan 03, 2018 10:39 am
Forum: Personal Consumer Issues
Topic: Effects of extreme cold weather
Replies: 107
Views: 9625

Re: Effects of extreme cold weather

One of my garage door openers jammed open and wouldn't close (went beyond the limit switch and hit the hard stop). Happens any time temps fall below roughly 5F, not really sure why. Tonight after work I have to take it apart and try and remember how I sorted it out last time. Mine did the EXACT sam...
by Chip
Wed Jan 03, 2018 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Social Security at age 62 perhaps?
Replies: 57
Views: 4907

Re: Social Security at age 62 perhaps?

Some consider shooting for wringing the most money out of the system and waiting until 70, hoping you make it to your mid-80's to count it as a 'win.' I think most people waiting until age 70 are NOT trying to "wring the most money out of the system". They are treating SS as longevity insurance. A ...
by Chip
Mon Jan 01, 2018 3:42 pm
Forum: Investing - Theory, News & General
Topic: Roth Conversions without ability to Recharacterize
Replies: 45
Views: 2398

Re: Roth Conversions without ability to Recharacterize

I'm still new to conversions but why would you convert anything at the beginning of the year and run the risk of it being worth less at the end of the year? Isn't that what the horse race was trying to prevent? What is the advantage to converting early in the year? It's similar to the lump sum vs D...
by Chip
Mon Jan 01, 2018 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Any Recent Experience with Vietnam ATMs?
Replies: 14
Views: 882

Re: Any Recent Experience with Vietnam ATMs?

Bill,

If he doesn't respond publicly you might PM Aloha Joe. I believe he lives in Saigon.
by Chip
Mon Jan 01, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: No earned income, how do you pay tax for pensions, SS and RMDs
Replies: 43
Views: 3594

Re: Retirees: No earned income, how do you pay tax for pensions, SS and RMDs

I think kaneohe's suggested method of adjusting your withholding is the simplest. If you have one pension that could cover all of your withholding, file a W-4P for that pension with some arbitrary number of exemptions. Wait until you see what the actual W/H from that filing is, then file a new W-4P ...
by Chip
Mon Jan 01, 2018 3:09 pm
Forum: Investing - Theory, News & General
Topic: Roth Conversions without ability to Recharacterize
Replies: 45
Views: 2398

Re: Roth Conversions without ability to Recharacterize

1. Without the ability to recharacterize is the concept of the Roth Horse race no longer viable? Does it make sense to wait until later in the year to do our simple, one fund Roth Conversion when we are more certain of our income for that year and the amount we want to convert? 2. Without the abili...
by Chip
Mon Jan 01, 2018 12:41 pm
Forum: Personal Consumer Issues
Topic: Appliance Install Issues
Replies: 40
Views: 2033

Re: Appliance Install Issues

That's probably because you're recording 24 hours a day. Some DVD Recorder Cable boxes record continuously unless you tell it to shut off after 4 hours of inactivity in an Options setting. Easy way to test - when you turn it on in the morning, see how far you can back it up. It's not a recording bo...
by Chip
Mon Jan 01, 2018 10:35 am
Forum: Personal Consumer Issues
Topic: Appliance Install Issues
Replies: 40
Views: 2033

Re: Appliance Install Issues

Chip. That is great idea. I will go to the store this PM and get one and see what all this stuff draws. Then I can make a really educated decision instead of guessing. Did you measure what your refrigerator draws when it starts up? Was the power draw during start up for the compressor a lot higher?...
by Chip
Mon Jan 01, 2018 9:46 am
Forum: Investing - Help with Personal Investments
Topic: Preferred Company Stock - Special Tax Treatment
Replies: 3
Views: 257

Re: Preferred Company Stock - Special Tax Treatment

Thanks Chip. That seems like a pretty good tax benefit. In addition, it sounds like even the common stock will have some preferred tax treatment, right?[...] So, for example, if we got some Profit Sharing contributions at say $60/share of common stock, and it's now $80/share, we'll have a lower tax...