Search found 371 matches

by kmurp
Fri May 08, 2020 7:34 am
Forum: Personal Finance (Not Investing)
Topic: How Do Early Retirees Pay for Medical
Replies: 132
Views: 10028

Re: How Do Early Retirees Pay for Medical

I have postponed my retirement at the end of this year due to the ACA court case. I’m less worried about cost than I am about us not being able to purchase Heath insurance at all due to pre-existing conditions. Living in New York State, I wonder if the guaranteed insurability in New York would conti...
by kmurp
Thu May 07, 2020 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: PPP - For those getting approved, what was the % given to you out of possible total?
Replies: 19
Views: 904

Re: PPP - For those getting approved, what was the % given to you out of possible total?

I underwrote a lot of ppp loans, and what 2.5mo was in the clients minds OFTEN did not match our analysis of their paperwork for various reasons. common examples: sole props wanted gross receipts but we only approved them for line 31 net income Companies requested amounts for independent contractor...
by kmurp
Sun May 03, 2020 4:14 am
Forum: Personal Consumer Issues
Topic: Lawnmower recommendation
Replies: 65
Views: 4145

Re: Lawnmower recommendation

My Honda mower has a bit of gas in the carburetor after being run dry so I loosen a screw at the bottom each fall to drain that. Stabil is always a good idea as well.
by kmurp
Sun Apr 26, 2020 5:58 am
Forum: Personal Finance (Not Investing)
Topic: PPP Loan and Risk that Forgiveness Rules will Change
Replies: 15
Views: 1345

Re: PPP Loan and Risk that Forgiveness Rules will Change

It’s a dilemma. If we knew our PPP loan would not be forgivable, we likely would have continued to furlough our staff rather than borrow to pay them. That would defeat the purpose of the PPP. That said, we took it and are paying people. I do think that there might be a litmus test regarding showing ...
by kmurp
Thu Apr 23, 2020 3:52 am
Forum: Personal Finance (Not Investing)
Topic: physician/APC pay cuts
Replies: 133
Views: 10244

Re: physician/APC pay cuts

If the hospital doesn’t survive this, you will be unemployed. My hospital has cash to make it through most of June before insolvency. The CARES act funding for the hospital will be 4-5 million on a budget of 330 million. Not much. My private practice is projecting a 15-20% hit in compensation for th...
by kmurp
Tue Apr 21, 2020 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 323
Views: 23126

Re: Optimizing PPP Forgiveness

I've had several of the same questions and here are the answers I've received from our banker and our CPA (top 10 firm). 1. The day your loan is funded. You get 56 days from that date for your 8 week window. 2. Utilities we were told are gas, water, sewer, electric, phone, internet, and cellular. N...
by kmurp
Tue Apr 21, 2020 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 323
Views: 23126

Re: Optimizing PPP Forgiveness

Our office has no mortgage, but has condo fees. Would that come under the heading of rent?
by kmurp
Tue Apr 14, 2020 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 14201

Re: How many paid for kids' college?

Paid for three of them in full. I was able to afford it. If I was unable to afford it, other arrangements would have been made.
by kmurp
Mon Apr 13, 2020 4:49 pm
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 505
Views: 53170

Re: How Is Your Job Being Impacted By The Current Crisis?

The nurses might be able to find work at the hospital which would be taking over. Others would be retained . I imagine any laid off docs would have to hit the job market and look for new positions like everyone else in the country. It's even affecting Mayo: https://www.beckershospitalreview.com/fina...
by kmurp
Mon Apr 13, 2020 6:21 am
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 505
Views: 53170

Re: How Is Your Job Being Impacted By The Current Crisis?

Inpatient hospitalist physician and medical director. Independent contractor/self employed. 24/7 for the next 2 weeks at this point. 4,380 hours of call last year. Anticipate 5,000+ this year. All travel for us cancelled. Hospital asking me not to leave town and stay quarantined when not working. T...
by kmurp
Sun Apr 05, 2020 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 34114

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

I have few questions regarding PPP loan: 1. I read that while applying for PPP loan, you need to self certify that the "Current economic uncertainty makes the loan necessary to support your ongoing operations". What constitutes current economic uncertainty? Sales 30% down? 60% down? 80% down? Is th...
by kmurp
Sun Apr 05, 2020 6:12 am
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9793

Re: Cares Act Payroll Protection Program

Would profit sharing contributions to employee retirement accounts be included in the loan amount ? We normally make our first quarter contribution in mid March, then monthly after that.
by kmurp
Sat Apr 04, 2020 4:23 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 34114

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

I know a small business owner that applied for this, and has had no decrease in his business. Doesn't know if he will get anything, but if you want free money, you must get in line. Give it a couple of months and stories will come out on how individuals and businesses are taking advantage of this h...
by kmurp
Fri Apr 03, 2020 6:44 am
Forum: Investing - Theory, News & General
Topic: Question on Paycheck Protection Program "payment of any retirement benefit" definition
Replies: 7
Views: 622

Re: Question on Paycheck Protection Program "payment of any retirement benefit" definition

Our accountant told us we have to exclude contributions to our retirement plan FWIW.
by kmurp
Tue Mar 31, 2020 9:07 am
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9793

Re: Cares Act Payroll Protection Program

Allan wrote:
Tue Mar 31, 2020 5:31 am
Pretty sure your accountant is mistaken about 1099-Misc contractors.
Me too, but once again today he told us it’s not allowed.
by kmurp
Tue Mar 31, 2020 5:26 am
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9793

Re: Cares Act Payroll Protection Program

Thank you for your reply. Our accountant told us we cannot include 1099 employees, but my reading of the text of the House version of the bill, indicates that we can do so as you stated. I think maybe the house added that language to the senate bill if I’m reading things correctly, but I have no exp...
by kmurp
Tue Mar 31, 2020 4:32 am
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9793

Re: Cares Act Payroll Protection Program

Another question: most of our people are W2, but three work for us as independent contractors. Can the money we pay them be included in the loan amount?
by kmurp
Sun Mar 29, 2020 4:08 am
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9793

Cares Act Payroll Protection Program

I thought it might be good to start a topic about this specific section of the CARES Act. I’m wondering if there are any small business owners on this board who will be taking advantage of this program? I have two questions : 1. Can it be used in any way to support employees who earned more than $10...
by kmurp
Sat Mar 28, 2020 5:30 am
Forum: Investing - Theory, News & General
Topic: [CARES Act] Overview
Replies: 98
Views: 6642

Re: CARE Act Overview

Our medical practice is basically shut down. Many of our furloughed employees made more than 100,000 last year. Does that exclude us from the program (paycheck protection loans), or does it mean we can only borrow a prorated amount up to 100,000 salary per employee? I’m wondering if we need the mods...
by kmurp
Fri Mar 27, 2020 6:42 am
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 505
Views: 53170

Re: How Is Your Job Being Impacted By The Current Crisis?

I work in healthcare. In our field, almost all work is gone and we have furloughed in one way or another, much of our staff. Cash on hand for those remaining will run very low by mid to late May. We have been told at work not to expect any changes to our volume until June so none of us are quite sur...
by kmurp
Wed Mar 25, 2020 12:19 pm
Forum: Personal Consumer Issues
Topic: Thinking I should go car shopping amidst the panic
Replies: 106
Views: 10867

Re: Thinking I should go car shopping amidst the panic

Dealers around us are are closed due to the pandemic. I would very strongly suggest to you all NOT to go out for things you don’t absolutely need (like a car).
by kmurp
Sat Mar 21, 2020 4:59 pm
Forum: Investing - Theory, News & General
Topic: Coronavirus and the market
Replies: 4002
Views: 306636

Re: Coronavirus and the market

How does the govt. come up with 1-2 trillion that’s proposed for the aid package? Does it issue treasuries? Is there a market that large for this?
by kmurp
Wed Mar 18, 2020 2:38 pm
Forum: Personal Consumer Issues
Topic: Have you been personally affected by supply chain problems?
Replies: 56
Views: 3833

Re: Have you been personally affected by supply chain problems?

Yes. Our surgery center can't get masks because all these fools are buying them up. They're not even the right type of masks that will protect people from getting the virus; the ones we use are the flimsy ones that provide no air seal whatsoever. If people are buying the wrong masks, how is that af...
by kmurp
Wed Mar 18, 2020 2:26 pm
Forum: Personal Investments
Topic: investment grade corporate bond funds fall in downturn?
Replies: 39
Views: 4199

Re: investment grade corporate bond funds fall in downturn?

Don't have anything to add but thought maybe this thread deserved a bump.
by kmurp
Wed Mar 18, 2020 12:53 pm
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 505
Views: 53170

Re: How Is Your Job Being Impacted By The Current Crisis?

Inpatient hospitalist physician and medical director. Independent contractor/self employed. 24/7 for the next 2 weeks at this point. 4,380 hours of call last year. Anticipate 5,000+ this year. All travel for us cancelled. Hospital asking me not to leave town and stay quarantined when not working. T...
by kmurp
Wed Mar 18, 2020 12:37 pm
Forum: Investing - Theory, News & General
Topic: thank you Bill Bernstein: "If You've Won the Game, Stop Playing"
Replies: 51
Views: 6750

Re: thank you Bill Bernstein: "If You've Won the Game, Stop Playing"

Well, maybe I should have paid more attention. My asset allocation has been around 50% for most of my life, but had gotten to just about 60% just before the crash. This has come at the worst time for me as I was hoping to retire at the end of this year. I had read about LMP but it would have taken 7...
by kmurp
Wed Mar 18, 2020 12:20 pm
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 505
Views: 53170

Re: How Is Your Job Being Impacted By The Current Crisis?

Anesthesia Group: elective surgery disappearing and 1/3 of staff on quarantine due to exposure (all are well). CRNAs on quarantine using their PTO but will return to furloughs that will be rotating. Group is worried about making payroll in a couple months.
by kmurp
Thu Feb 06, 2020 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving Amica for Cincinnati, Erie, Travelers, or MetLife?
Replies: 31
Views: 2355

Re: Leaving Amica for Cincinnati, Erie, Travelers, or MetLife?

Just switched to Metlife and saved decent money. That said, their website is the absolute worst I’ve encountered compared to Geico, Progressive, Liberty Mutual, State Farm and Amica (all of which I’ve had in the internet age). Just trying to pay my bill is a trial. Each of the four policies I have m...
by kmurp
Thu Feb 06, 2020 10:08 am
Forum: Personal Finance (Not Investing)
Topic: Physician assistant salary?
Replies: 39
Views: 7659

Re: Physician assistant salary?

gasdoc wrote:
Wed Feb 05, 2020 8:00 pm
I'll just add that a PA in anesthesia in our practice starts at $140k base, and makes about $200K if they take a normal amount of night and weekend call.

gasdoc
CRNAs have a much better salary. At least where we are. It’s the best compensation outside of med school available.
by kmurp
Fri Jan 31, 2020 5:19 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard 1099 question
Replies: 3
Views: 804

Re: Vanguard 1099 question

You are correct, it’s a consolidated form 1099. You are also correct that the 1099b for each individual security transaction shows the proper cost basis for each. The weird thing is that the muni fund should be covered shares as they were purchased fairly recently. I’m going to go with the numbers o...
by kmurp
Thu Jan 30, 2020 4:59 am
Forum: Personal Finance (Not Investing)
Topic: Vanguard 1099 question
Replies: 3
Views: 804

Vanguard 1099 question

I looked at my 1099 today for 2019. I had two $10,00 CDs mature and sold $10,000 of vanguard limited term muni fund. On the 1099 individual sales portion it shows the correct cost basis for each security with a total cap gain of $200. On th box 1e however, it shows a cost basis of only $20,000. It's...
by kmurp
Thu Jan 23, 2020 4:41 pm
Forum: Investing - Theory, News & General
Topic: List of funds that should in a small company 401K ?
Replies: 37
Views: 1211

Re: List of funds that should in a small company 401K ?

Target date funds are a must.
Total domestic ind international stock.
Intermediate US bond ( we did vanguard intermediate term bond).
You are required to have a money market or stable value.
We also added vanguard small cap index and a small cap international.
That’s it: we just did it
by kmurp
Sat Jan 04, 2020 10:03 am
Forum: Personal Finance (Not Investing)
Topic: When to Collect SS
Replies: 55
Views: 3180

Re: When to Collect SS

Can anyone suggest an alternative to open social security to run scenarios? I don’t mind paying some money for a calculator to get a second look. The reason I ask is that open social security suggested that I wait till 70. That’s understandable. But it also suggested that my wife file at 62, which ...
by kmurp
Sat Jan 04, 2020 7:34 am
Forum: Personal Finance (Not Investing)
Topic: When to Collect SS
Replies: 55
Views: 3180

Re: When to Collect SS

Can anyone suggest an alternative to open social security to run scenarios? I don’t mind paying some money for a calculator to get a second look. The reason I ask is that open social security suggested that I wait till 70. That’s understandable. But it also suggested that my wife file at 62, which w...
by kmurp
Sat Dec 21, 2019 11:43 am
Forum: Investing - Theory, News & General
Topic: Tax Law Changes for 2020
Replies: 355
Views: 28222

Re: Tax Law Changes for 2020

I’m looking forward to discussion on which accounts to draw from : taxable or tax deferred if one wants to leave an inheritance. Traditionally, I’ve read draw from tax deferred last. I’m wondering if the advice could change for those of us with more in tax deferred than taxable.
by kmurp
Sat Dec 14, 2019 7:23 am
Forum: Personal Investments
Topic: $96/year Planning
Replies: 29
Views: 8837

Re: $96/year Planning

We also wanted a second/third opinion: I've done both the "expensive" several thousand dollar financial planner session ("fee only," though they offer a AUM service and do more for those clients and the $96 Plan Vision option. For $3500: We provided a CFP with our asset statements, expense estimate...
by kmurp
Thu Nov 28, 2019 5:31 am
Forum: Personal Consumer Issues
Topic: Moving to Schenectady/Albany NY
Replies: 10
Views: 1305

Re: Moving to Schenectady/Albany NY

Most of the young people I know want to live closer to Saratoga these days. It’s a bit of a commute though. You don’t likely want to live in the city of Schenectady itself.
by kmurp
Wed Nov 27, 2019 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Estimating Taxes During Retirement
Replies: 35
Views: 3632

Re: Estimating Taxes During Retirement

This is one of the reasons to prefer Fidelity. They have a very robust and detailed calculator for retirement. Among other things, it allows you to enter a tax rate. It’s much better than what Vanguard or Schwab offers. Most tools are available to everyone... https://www.fidelity.com/calculators-to...
by kmurp
Wed Nov 27, 2019 5:23 am
Forum: Personal Finance (Not Investing)
Topic: Estimating Taxes During Retirement
Replies: 35
Views: 3632

Re: Estimating Taxes During Retirement

This is one of the reasons to prefer Fidelity. They have a very robust and detailed calculator for retirement. Among other things, it allows you to enter a tax rate. It’s much better than what Vanguard or Schwab offers.
by kmurp
Sat Nov 16, 2019 4:40 am
Forum: Personal Investments
Topic: Charles Schwab or Fidelity?
Replies: 46
Views: 4743

Re: Charles Schwab or Fidelity?

I’ve had Fidelity for a number of years and our work plan just switched to Schwab. Impressions so far: Schwab website doesn’t seem to display as well on my iPad . Fidelity has a great performance tab that tracks annualized and cumulative returns minus fees vs standard benchmarks. I’ve not found that...
by kmurp
Fri Nov 08, 2019 5:10 am
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Reserve - Fees Waived?
Replies: 54
Views: 5550

Re: Chase Sapphire Reserve - Fees Waived?

We put my wife’s CSR on my iPhone for Apple Pay use instead of paying for a second card. The trouble is Apple Pay is often not an option for payment so I do carry one physical credit card (Southwest visa).
by kmurp
Fri Aug 23, 2019 5:33 am
Forum: Personal Finance (Not Investing)
Topic: Can Employer Legally charge 401k Plan fees without Disclosing them?
Replies: 11
Views: 991

Re: Can Employer Legally charge 401k Plan fees without Disclosing them?

An annual fee disclosure is required. Perhaps that’s how you found out? Agree with the above post that 0.1% is not excessive by itself. If the 401k has all high fee funds that rebate 12b1 fees to the company for overhead, that would maybe be a different matter.
by kmurp
Mon Aug 19, 2019 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Biz Owners: Your Health Insurance Contributions?
Replies: 8
Views: 458

Re: Biz Owners: Your Health Insurance Contributions?

We are, if I recall correctly, funding up to around 18,000 per year for a family plan that’s high deductible. That covers the premiums and most of the HSA this year. Next year could be different depending on premium increases.
by kmurp
Sat Aug 10, 2019 7:52 pm
Forum: Investing - Theory, News & General
Topic: Help me design a 401k fund menu
Replies: 36
Views: 2446

Re: Help me design a 401k fund menu

If I were doing it: Target date funds Total stock market Total international Total bond market End of list Reasoning: behavioral economics research on folks making poor decisions in the face of too much choice. That upsets some as paternalistic...oh well. A founding father of behavioral economics i...
by kmurp
Sat Aug 10, 2019 7:25 pm
Forum: Investing - Theory, News & General
Topic: Help me design a 401k fund menu
Replies: 36
Views: 2446

Re: Help me design a 401k fund menu

So to update, the following is what we went with: QDIA: Schwab target index funds Target risk : vanguard life strategy moderate Domestic equity: Schwab total stock, Fidelity midcap and Schwab smallcap index International : vanguard total international and FTSE All world small cap Bonds: federal mon...
by kmurp
Tue Aug 06, 2019 12:05 pm
Forum: Personal Investments
Topic: 401K question
Replies: 4
Views: 358

Re: 401K question

Something is not right in your description. The 401k should be governed by ERISA federal law which requires broader choices than you describe.
by kmurp
Tue Aug 06, 2019 5:31 am
Forum: Investing - Theory, News & General
Topic: Supreme Court rules in favor of 401k participants who object to high fees
Replies: 35
Views: 8690

Re: Supreme Court rules in favor of 401k participants who object to high fees

kmurp, a couple months ago, you wrote on this forum in another thread: We have a small company with an ERISA retirement plan. We allow anyone to go outside the plan via a "brokerage window" but also offer an internal group of mutual funds. Most of the funds are active and the plan gets some of thes...
by kmurp
Sun Aug 04, 2019 9:21 am
Forum: Personal Consumer Issues
Topic: Are all models of Toyota generally considered reliable?
Replies: 52
Views: 5698

Re: Are all models of Toyota generally considered reliable?

Another anecdote : only owned one, a 2006 RAV4. It burns oil like crazy; maybe half a quart every 1000 miles. Known issue with that four cylinder engine.