Search found 2077 matches

by Chip
Wed Jul 18, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 141
Views: 12191

Re: Early retirement

Perhaps we could benefit from a more objective definition. At least in the US, the government conveniently provides an objective measure that could be used. If you are eligible to contribute to an IRA of any type, then perhaps you are not retired? I don't know if that will do it. My wife had NQ sto...
by Chip
Wed Jul 18, 2018 12:46 pm
Forum: Investing - Theory, News & General
Topic: International Stocks in Taxable?
Replies: 14
Views: 862

Re: International Stocks in Taxable?

Does TurboTax or other prep software not handle that form? In OP's case he has an accountant I assume prepping the form. If paying someone I wouldn't worry about it at all. None of the tax software packages "handle" F1116 without significant manual intervention, though I think TurboTax may be the b...
by Chip
Wed Jul 18, 2018 7:17 am
Forum: Investing - Theory, News & General
Topic: International Stocks in Taxable?
Replies: 14
Views: 862

Re: International Stocks in Taxable?

tarmangani wrote:
Wed Jul 18, 2018 7:10 am
There's no complexity...your broker sends you a printout with a column labeled Foreign Tax Credit, which you or your accountant simply reports.
This is only true if foreign tax paid is under the $300/$600 limit.

Or unless you consider Form 1116 "not complex". :shock:
by Chip
Wed Jul 18, 2018 5:55 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax -- Forms 8814 and 8962 (Household income calculations for PTC)
Replies: 4
Views: 344

Re: Turbo Tax -- Forms 8814 and 8962 (Household income calculations for PTC)

47Percent wrote:
Tue Jul 17, 2018 11:40 pm
Subsequent to my call(s) they have admitted that this is a bug. They are working on a fix.

https://ttlc.intuit.com/questions/44898 ... -form-8814
Nice work running this to ground!
by Chip
Wed Jul 18, 2018 5:53 am
Forum: Investing - Help with Personal Investments
Topic: Consolidate and simplify
Replies: 11
Views: 1330

Re: Consolidate and simplify

This is a pretty significant bonus when you go from a couple bucks to a couple thousand, and why international funds are always best to hold in a taxable account when possible. I disagree with your conclusion that it's best for everyone . It is quite possible, after going through the complexities o...
by Chip
Mon Jul 16, 2018 4:28 pm
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 20
Views: 541

Re: Suggestions For Re-attaching a Closet Handle

When have some time, I will bring the handle to home depot get some help with screws/bolts. washers and nuts. Thank you for the help While you're there, take a look in the area where they have door latch sets. There may be a "dummy" escutcheon plate that could serve as your "washers" on the inside ...
by Chip
Mon Jul 16, 2018 11:48 am
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 20
Views: 541

Re: Suggestions For Re-attaching a Closet Handle

Since the door is hollow I like Phronesis's suggestion. You should buy large washers with a hole the size of the bolt (sometimes called a fender washer) in order to spread the force over as large an area of the door as possible. Don't overtighten. The golf tee idea that was mentioned isn't going to ...
by Chip
Mon Jul 16, 2018 11:21 am
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 20
Views: 541

Re: Suggestions For Re-attaching a Closet Handle

It is a hollow door and there is nothing on the other side of the door. The sister handle on the other door looks like it has some kind of mechanism on the inside to perhaps screw into. Is it hollow right where the handle is mounted? That would be very unusual as hollow doors are usually solid in t...
by Chip
Mon Jul 16, 2018 11:11 am
Forum: Personal Consumer Issues
Topic: Suggestions For Re-attaching a Closet Handle
Replies: 20
Views: 541

Re: Suggestions For Re-attaching a Closet Handle

Based on the photos it appears that there is no latch mechanism involved, so there probably isn't another handle on the inside and the screws holding the handle on have probably stripped out. I would expect that the door is solid in the area of the screw holes (vs. hollow, like the rest of the door)...
by Chip
Mon Jul 16, 2018 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Tax Hump vs. Tax Torpedo
Replies: 21
Views: 2274

Re: Social Security Tax Hump vs. Tax Torpedo

This is not true with MAGI within the region of the tax hump. Even though only 85% of SS is taxed, the tax rate is so high (46.25%) that the effect (46.25*.85 = 39.3%) is higher taxation than I would pay (22%) without SS. I don't think you're framing this correctly. Take any given tax situation, th...
by Chip
Mon Jul 16, 2018 8:05 am
Forum: Investing - Theory, News & General
Topic: Is rebalancing an advantage when holding a 3 fund portfolio instead of 2 or 1 fund portfolio?
Replies: 17
Views: 814

Re: Is rebalancing an advantage when holding a 3 fund portfolio instead of 2 or 1 fund portfolio?

No, I thought forums were designed for people to ask questions and communicate. Indeed they are. But some here, including me, would prefer to spend our time helping those who spend at least a little bit of time helping themselves by researching the vast resources of this forum. Those resources incl...
by Chip
Mon Jul 16, 2018 6:18 am
Forum: Investing - Help with Personal Investments
Topic: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?
Replies: 45
Views: 2026

Re: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?

If you want additional thoughts on this you could review the thread on the exact same subject that you started here over a year ago.

[EU] Should I simplify my portfolio even further according to Buffett's recommendations?
by Chip
Mon Jul 16, 2018 3:49 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1574

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

Ok, I got it all figured out. I decided to file a 1040X as well. I think I figured out what happened. I used TurboTax and it thought I made 2 contributions (a traditional IRA and Roth IRA) so I paid a $330 excessive tax. Removed it. or the 1040X, if the amounts I put are unchanged (so change is 0)....
by Chip
Mon Jul 16, 2018 3:36 am
Forum: Investing - Help with Personal Investments
Topic: New Fidelity Solo 401k: FFNOX or FSTMX to start?
Replies: 6
Views: 461

Re: New Fidelity Solo 401k: FFNOX or FSTMX to start?

I think you did a good job of answering your own question.

Pick FFNOX, for the reasons you outlined. As you noted, ignore past performance differences.
by Chip
Sun Jul 15, 2018 6:33 am
Forum: Investing - Help with Personal Investments
Topic: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?
Replies: 45
Views: 2026

Re: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?

Mr. Buffett said average Joe should stick to index funds. He also left this allocation for his wife, thus putting 2+2 together it makes most sense for me to do the same since I'm average Joe. You put 2+2 together and got 9. :D The recommendation for index funds is NOT a recommendation that you inve...
by Chip
Sun Jul 15, 2018 5:52 am
Forum: Investing - Help with Personal Investments
Topic: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?
Replies: 45
Views: 2026

Re: Should I simplify my portfolio and switch from 3 fund to 2 fund portfolio?

I'm thinking maybe I could make my stock portfolio even more simple and get rid of 30% VXUS and switch it to 90% VTI and 10% BND. Why? Because American companies still have their income coming from other countries outside US. Warren Buffett also advises low cost S&P index 90% and 10% bond index for...
by Chip
Fri Jul 13, 2018 4:18 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1574

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

I called the IRS, one thing they mentioned for 8606 in line 6, I need to put the balance of all my IRAs. Well, I only have a Roth IRA and I have a balance before 2016, let's say it's $40,000. He mentioned I needed to do that to satisfy this form going out. That line says only traditional and SEP, n...
by Chip
Wed Jul 11, 2018 5:49 am
Forum: Investing - Help with Personal Investments
Topic: Retirement Spending - which account?
Replies: 4
Views: 685

Re: Retirement Spending - which account?

You have 30% of your assets in taxable accounts. If you spent only from taxable at a 4% withdrawal rate it would likely last you just over 7 years (7*4%=28%), which coincidentally will be the amount of time after you retire before RMDs and SS kick in. So conceivably you could spend only from taxable...
by Chip
Tue Jul 10, 2018 4:40 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review
Replies: 5
Views: 662

Re: Portfolio Review

I had not considered excluding VBTLX in taxable. In theory, I understand thinking of the portfolio as a whole - in practice it is a little more challenging. I am not fully understanding the comment on VEXAX and need to research further. Assuming your VA tax rate is 5.75%, your total marginal tax ra...
by Chip
Mon Jul 09, 2018 8:10 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review
Replies: 5
Views: 662

Re: Portfolio Review

Hi, and welcome to the public side! Just a few quick comments as I don't have time right now to do a thorough review. Maybe later. Please excuse any curtness. Your overall allocation goals seem fine, both now and in the future. Though you may want to go ahead and move to at least 60/40 now since it ...
by Chip
Sun Jul 08, 2018 11:44 am
Forum: Personal Consumer Issues
Topic: Honda Accord Maintenance at 3 Years - Am I Getting Hosed?
Replies: 95
Views: 5359

Re: Honda Accord Maintenance at 3 Years - Am I Getting Hosed?

That is why I am asking - have a 2002 Honda and a 2006 Honda and neither have had a brake fluid flush nor have they had a caliper problem. NE environment, out in snow, no garage for these cars. Maybe you've been lucky or I've been unlucky. I note in the above post about manufacturers recommendation...
by Chip
Sun Jul 08, 2018 9:54 am
Forum: Personal Consumer Issues
Topic: Honda Accord Maintenance at 3 Years - Am I Getting Hosed?
Replies: 95
Views: 5359

Re: Honda Accord Maintenance at 3 Years - Am I Getting Hosed?

This is absolutely true and has been that way forever. Most all use the same type of fluid and the systems are mostly sealed .So why do some vehicle handbooks not require brake fluid flushes at all? Why is it that most vehicles never get a fluid flush and are absolutely fine 20 years later? Just cu...
by Chip
Sun Jul 08, 2018 5:58 am
Forum: Personal Consumer Issues
Topic: $50+ gas bill for $4 in gas?
Replies: 16
Views: 3026

Re: $50+ gas bill for $4 in gas?

Have other people noticed this trend of raising the fixed fees on utilities resulting in higher bills regardless of usage? I suspect that now that you can (at least here in IL) choose a different gas supplier other than the distributor the gas company has pushed for higher fixed fees. Welcome to th...
by Chip
Sun Jul 08, 2018 5:43 am
Forum: Personal Finance (Not Investing)
Topic: IRS letter on my 2016 return - taxes on backdoor Roth??
Replies: 10
Views: 2020

Re: IRS letter on my 2016 return - taxes on backdoor Roth??

I received one today too. By chance, did you use HR Block online for filing? Please check and make sure that the 2016 Form 8606 you filed is correct. It should look very similar to the one in this post . In particular, Lines 16-18 must be filled out and Line 18 should be zero or some relatively sma...
by Chip
Sat Jul 07, 2018 11:54 am
Forum: Personal Consumer Issues
Topic: garden hose
Replies: 46
Views: 4686

Re: garden hose

I need to replace my garden hose after 30 years plus. It is a black hose that I got at Sears. Any recommendations would be appreciated. I have those same hoses (Craftsman). The fittings on the ones I bought in the 80s started failing several years ago. I took them to Sears and they gave me complete...
by Chip
Sat Jul 07, 2018 7:07 am
Forum: Personal Consumer Issues
Topic: Replace car battery after X years or wait till it dies?
Replies: 162
Views: 19252

Re: Replace car battery after X years or wait till it dies?

Living in the midwest, and replacing my batteries only when they show signs of weakness or have actually failed, I have only once in almost 30 years driving had a battery last 6 years. 5 years is about the max, and I had one car that chewed through them every 6 months or so. When the 4-year-old bat...
by Chip
Sat Jul 07, 2018 5:53 am
Forum: Personal Finance (Not Investing)
Topic: IRS letter on my 2016 return - taxes on backdoor Roth??
Replies: 10
Views: 2020

Re: IRS letter on my 2016 return - taxes on backdoor Roth??

It appears from a few posts here that the IRS computers may be producing CP2000s for 2016 backdoor Roths that were reported correctly on returns. That seems to be the case you're describing. Here's my take on how to deal with that situation from another thread: https://www.bogleheads.org/forum/viewt...
by Chip
Thu Jul 05, 2018 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio check-up/review, advice for next major steps
Replies: 6
Views: 641

Re: Portfolio check-up/review, advice for next major steps

A couple of other thoughts: I assume you have health insurance through your employer. If there is an HSA (health savings account) compliant option you might examine that and see if it fits your situation. At 30 I had very little in medical expenses, though you may be different. An HSA would be a pla...
by Chip
Thu Jul 05, 2018 5:39 am
Forum: Investing - Help with Personal Investments
Topic: Where to put international?
Replies: 35
Views: 3464

Re: Where to put international?

I don't use total international. I've put developed large cap blend and value in taxable, EM and small cap in Roths. So my tax rates aren't relevant. But it's easy enough to use the spreadsheet and figure out the numbers for VTIAX/VXUS. I note that they are very close to VTI for the 12%/6% in tricer...
by Chip
Thu Jul 05, 2018 5:16 am
Forum: Investing - Help with Personal Investments
Topic: Where to put international?
Replies: 35
Views: 3464

Re: Where to put international?

I suppose if you live in a state that has no income tax and your income is so low that you don't pay federal income taxes either, international is more tax efficient than US. For most people, international is less tax efficient than US. OP would need to plug in his own numbers into the spreadsheet ...
by Chip
Thu Jul 05, 2018 4:49 am
Forum: Investing - Help with Personal Investments
Topic: Where to put international?
Replies: 35
Views: 3464

Re: Where to put international?

JustinR wrote:
Thu Jul 05, 2018 4:31 am
Place international in your tax-advantaged accounts.
Would you recommend that for me as well? Even though I am being PAID by the IRS (tax credit more than fund ERs plus fund taxes) to hold international in my taxable account?

As others have noted, it's not one size fits all.
by Chip
Thu Jul 05, 2018 4:20 am
Forum: Investing - Theory, News & General
Topic: Fidelity cash position
Replies: 42
Views: 4557

Re: Fidelity cash position

Are the other money market funds included in your "cash available to trade" amount? I also wonder if a cash account and a margin account are treated different or not. Yes, they are. Even better, they are considered "cash available to withdraw". At least that's my experience with FZDXX in both a tax...
by Chip
Thu Jul 05, 2018 4:05 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1574

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

Normally Box 7 income on a 1099-MISC (non-employee compensation) would result in a Schedule C on your tax return. This would also result in a Schedule SE if over the income threshold.

There are some exceptions to this, but it would depend on the particular facts of the situation.
by Chip
Wed Jul 04, 2018 3:54 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio check-up/review, advice for next major steps
Replies: 6
Views: 641

Re: Portfolio check-up/review, advice for next major steps

Are there any specific records to keep besides knowing what was contributed, converted, and reinvested? Your contributions are shown on Form(s) 5498 that your IRA custodian sends out each year. Your conversions are also documented there. Plus you have your tax returns that show the conversions, non...
by Chip
Wed Jul 04, 2018 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1574

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

schrute wrote:
Wed Jul 04, 2018 2:01 pm
Got it. It's a 1099-MISC so I think I can treat it as misc income, I've done in years past rather than Schedule SE.
Yes, that makes sense. I assume the income is in Box 3 of the 1099-MISC and not in Box 7?
by Chip
Wed Jul 04, 2018 2:02 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio check-up/review, advice for next major steps
Replies: 6
Views: 641

Re: Portfolio check-up/review, advice for next major steps

It looks like you've done an excellent job of putting the principles you read about here into practice. Any suggestions I make are really just fine tuning. Your allocations and asset locations look just about perfect. As to your questions: 1. Not an issue. 2. I would make the switch. You already hav...
by Chip
Wed Jul 04, 2018 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1574

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

Ah, thanks for the response here! The form CP2000 has some income I earned (from AdSense on a 1099) which I didn't record, it was small and I don't contest that part. Is it possible to contest in part and accept in part the tax due? I think so, by saying in your response that you agree with X and d...
by Chip
Wed Jul 04, 2018 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1574

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

Thanks. I read the other threads from folks, it seems around how to enter into TT. I actually couldn't find any with screenshots of the "correct" 8606 form or how it should look. Here's a screen shot (Step 5) of a Form 8606 from The Finance Buff (member tfb here). He also produced a nice series of ...
by Chip
Wed Jul 04, 2018 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 on Backdoor Roth, Did I do it right?
Replies: 24
Views: 1574

Re: IRS CP2000 on Backdoor Roth, Did I do it right?

One thing, on the front page of the 1040 in box 15a I have 5,500 (IRA distributions). 15b then has 0 (no taxable amount) . I imagine that part is also correct? Yes, that part is also correct. As I mentioned in another recent thread, your return may be exactly correct yet you get a letter due to an ...
by Chip
Tue Jul 03, 2018 5:09 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance for Retirees, % escalation
Replies: 34
Views: 2378

Re: Health Insurance for Retirees, % escalation

Megacorp retiree premiums for us have increased an average of 5.2%/year since 2002. I think that the company policy has been that retirees pay 1/3 of the actual premium cost while Megacorp pays 2/3. This obviously doesn't include changes to the plan, which have generally been to shift more cost to t...
by Chip
Tue Jul 03, 2018 3:58 am
Forum: Personal Finance (Not Investing)
Topic: IRS inquiry regarding backdoor Roth
Replies: 13
Views: 1999

Re: IRS inquiry regarding backdoor Roth

Okay, I did find some of those earlier threads. I should reiterate that my Turbo Tax generated 8606 looks exactly like The Finance Buff blog post I linked in the OP and my situation fits the form. I'm not sure what triggered the IRS letter. My TurboTax generated Form 8606 Line 8 is blank. But the I...
by Chip
Fri Jun 22, 2018 5:20 am
Forum: Personal Consumer Issues
Topic: Outdoor Wooden Steps Repair?
Replies: 19
Views: 1205

Re: Outdoor Wooden Steps Repair?

I agree with those who say wood filler is a bad idea. It will almost certainly flake off very quickly. The quick fix is the earlier suggestion to clean it up with a sharp chisel and sandpaper, then restain. If you smooth out the gouge so that there aren't any obvious jagged edges your eye won't be d...
by Chip
Thu Jun 21, 2018 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: Early retirement myth
Replies: 14
Views: 1519

Re: Early retirement myth

It irritates me about the same amount as people who say "I'm a vegetarian plus I eat chicken and fish". :P
by Chip
Thu Jun 21, 2018 5:58 am
Forum: Personal Finance (Not Investing)
Topic: Paper tax return filed at deadline - still no refund 7 weeks later
Replies: 27
Views: 2257

Re: Paper tax return filed at deadline - still no refund 7 weeks later

md&pharmacist wrote:
Wed Jun 20, 2018 5:13 pm
If you can't get this, how can you possibly get my higher level recommendations? :confused
It isn't a bug, it's a feature.
by Chip
Thu Jun 21, 2018 5:45 am
Forum: Investing - Help with Personal Investments
Topic: Left Betterment, Need help simplifying portfolio in Vanguard
Replies: 10
Views: 1747

Re: Left Betterment, Need help simplifying portfolio in Vanguard

VEA - VANGUARD FTSE DEVELOPED MKTS ETF (VEA) vs Vanguard Total International Stock ETF (VXUS Which one is more diversified? VXUS is more diversified because it owns stocks from both developed markets like Canada and Germany as well as emerging markets like China and South Korea. VEA only owns stock...
by Chip
Wed Jun 20, 2018 1:58 pm
Forum: Investing - Help with Personal Investments
Topic: How to shelter 500k
Replies: 11
Views: 1430

Re: How to shelter 500k

To add to Jack FFR1846's post, you can't contribute to any kind of IRA unless you have "qualifying compensation", which usually means earned income like wages, salary or self employment earnings. Dividends, interest and capital gains don't count. You're about as tax efficient as you can get. I would...
by Chip
Wed Jun 20, 2018 1:50 pm
Forum: Personal Consumer Issues
Topic: dryer vent cleaning--your thoughts?
Replies: 44
Views: 6597

Re: dryer vent cleaning--your thoughts?

I cleaned my dryer exhaust duct a while back after too many years. It's a short, straight run of metal flex hose so it wasn't bad at all. However, while I had the dryer out from the wall I did some minor disassembly and cleaned the internal duct work. It was about half clogged with lint & debris (in...
by Chip
Wed Jun 20, 2018 12:49 pm
Forum: Forum Issues and Administration
Topic: Is there a way to block someone?
Replies: 22
Views: 3122

Re: Is there a way to block someone?

Sandtrap wrote:
Wed Jun 20, 2018 10:05 am
Eggads!
I hope I'm not this fellow. :shock:
It's not you, trust me.