Search found 1715 matches

by guitarguy
Wed Nov 22, 2017 12:05 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

2. Set her DTE account to reinvest the QDIs starting in 2018 since the amounts vary...this way for 2018 projection we don't have to worry about including them when deciding how much DTE stock to sell. This is a new thought...but seems like a good idea as I'm typing this... When you say "we don't ha...
by guitarguy
Wed Nov 22, 2017 11:42 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

3. Sell the $25k or whatever of the stock (calculate the proper amount minus the DTE QDIs she's received for 2017 YTD. 4. Deposit $1k or so into her savings account to "replace" the Q4 dividend she now won't be receiving from Vanguard IRA 5. Open a taxable account at Vanguard and invest all of the ...
by guitarguy
Wed Nov 22, 2017 7:10 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

I just want to make sure I direct her towards the smartest decision. Put on your hindsight glasses and you'll know what that is was. In your situation I'd likely decide to split the sales at least into two pieces, one for 2017 and one for 2018, based on the short time between now and 2018. That mig...
by guitarguy
Wed Nov 22, 2017 7:05 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Sell the DTE ASAP, looks like it's at an all-time high. Not sure if your comment comes with a hint of sarcasm or not...but part of me thought of this. Since the topic of selling all the DTE has been raised, let me throw out this little tidbit: If your mother's Adjusted Gross Income (line 37 on the ...
by guitarguy
Tue Nov 21, 2017 8:47 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Sell the DTE ASAP, looks like it's at an all-time high. Not sure if your comment comes with a hint of sarcasm or not...but part of me thought of this. She’d have to endure some high taxation for the amounts that fall within that hump, but because of the safe harbor it would be a one time deal this ...
by guitarguy
Tue Nov 21, 2017 8:25 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

The impact on federal income tax of increased LTCG and QDI is quite complicated when the taxpayer also receives Social Security benefits. Sure is. Compare the previous chart, which included the $5710 tIRA distribution, with the one below that assumes $0 tIRA distribution: https://s8.postimg.org/uc6...
by guitarguy
Tue Nov 21, 2017 8:17 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Re: State taxes, yes we are in MI. I don’t have her return to look at, but she says she got a $1,200 property tax credit last year. I don’t know if there’s an income phase out of some sort for this credit or not. Need to look into this. I contacted her accountant and I’m having her advise on both th...
by guitarguy
Tue Nov 21, 2017 5:56 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Based on a quick spreadsheet I made up, she would've been able to net about $16-17k in capital gains before she crossed that 85% SS tax threshold(s) ... Given $22,499 of SS and $2,675 of non-SS ordinary income your mother could incur $20,076 of long term capital gains (LTCG) plus qualified dividend...
by guitarguy
Tue Nov 21, 2017 5:18 pm
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

To start, here is a summary of her 2016 tax return - fairly straightforward: 9a/b: - $3969 - (her ordinary dividend income - qualified dividends from DTE stock) 13: - variable - (the amount of LTCGs she would incur from selling off DTE stock) 15b: - $5710 - (IRA distributions - dividends - from her...
by guitarguy
Tue Nov 21, 2017 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

OK...updating with info from her tax returns. Here is a summary of what I found from 2016: 9a/b: - $3969 - (her ordinary dividend income - qualified dividends from DTE stock) 13: - variable - (the amount of LTCGs she would incur from selling off DTE stock - was $0 in 2016) 15b: - $5710 - (IRA distri...
by guitarguy
Tue Nov 21, 2017 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Choosing tax lots to sell
Replies: 17
Views: 1507

Re: Choosing tax lots to sell

Not to hijack the thread but I have a related question involving capital gains at 0% and implication on taxing SS benefits. I'm asking for a parent who as asked for my help...and as I'm only 32 and this is new territory for me...I'm trying to learn all I can. The portfolio has roughly $100k of stock...
by guitarguy
Tue Nov 21, 2017 11:12 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

I think I was making a pretty bad mistake in calculating the amount of tax she would owe...by forgetting about the reduced tax rate on capital gains. This thread was super helpful!! https://www.bogleheads.org/forum/viewtopic.php?t=219736 Based on this thread, and the explanation of how LTCGs and QDI...
by guitarguy
Tue Nov 21, 2017 9:51 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Re: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

OP, My suggestion is to sell ALL DTE stock for the simple reason it is too risky and does not meet her portfolio objectives. Pay the taxes and invest based on your plan. You can make a quarterly payment by Jan 15, 2018 for FY2017. There are thousands of threads on the issue of Divedends versus sell...
by guitarguy
Tue Nov 21, 2017 9:13 am
Forum: Investing - Help with Personal Investments
Topic: Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]
Replies: 26
Views: 1203

Help with mom's portfolio plan [taxes, SS, & selling $100k of single stock]

Hi All, As a quick background, my mom has asked me for help with her finances. The previous thread touched on a few issues (housing, her revocable living trust, etc), but to start with I would really like to focus on the portfolio side of things and consult with this amazing forum on whether or not ...
by guitarguy
Sat Nov 18, 2017 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Paid off my house. Now how to handle insurance and tax payments?
Replies: 21
Views: 2028

Re: Paid off my house. Now how to handle insurance and tax payments?

1/12th of property taxes + homeowners insurance auto deposited into a separate savings account at Ally. Pay winter taxes in Jan, and summer taxes & homeowners insurance in Jul from that savings account. All done online. Easy - few clicks of the mouse twice a year and it’s done. And a few pennies in ...
by guitarguy
Thu Nov 16, 2017 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

Another thing I was thinking about that I don't have experience with: Roth conversions. Would it make sense at all for her to convert small chunks of this tIRA to a Roth because she's in such a low tax bracket? After all, her eventual forced distributions from the tIRA at 70 1/2 will increase her re...
by guitarguy
Thu Nov 16, 2017 10:05 am
Forum: Personal Consumer Issues
Topic: Upgrading a flight - what are your rules?
Replies: 40
Views: 3596

Re: Upgrading a flight - what are your rules?

We've got a upcoming family trip, for four of us. On the way out, we have a single/direct 8 hr leg. On the way back, we have a 7hr redeye flight back. Right now we've got basic economy booked, and have the option to upgrade to econ plus. The fliers are 5'10", 5'6", and 2 fliers are 5'2" in height. ...
by guitarguy
Thu Nov 16, 2017 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

My question is, how does one sift through the bucket and determine "which" shares of the stock are being sold if they weren't all bought at the same cost basis price? For example, purchase 100 shares of a stock at $50/share. A year later purchase another 100 shares at $100/share. Hold for 5 years a...
by guitarguy
Thu Nov 16, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

I messed around with the calculator a little...unfortunately I don't have a great grasp on the key things to look for while contemplating "what if" scenarios. What are the red flags? Well, now, that is a VERY good question. It might even be worth asking on that dedicated thread, to see if you get a...
by guitarguy
Wed Nov 15, 2017 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

Guitarguy ... Did you see the Social Security Tax Impact Calculator mentioned in the Wiki page on Social Security Taxation? (I just now noticed it.) https://www.bogleheads.org/wiki/Social_Security_tax_impact_calculator (Disclaimers: I haven't downloaded the spreadsheet, and I haven't played with it...
by guitarguy
Tue Nov 14, 2017 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

First off thanks for the detailed info! :beer Back to the "how do taxes on investment accounts work" issue... Basic, important concept: qualified dividends and long term capital gains get special (advantageous) tax rates. I like to picture how they work in terms of a bar chart. The Finance Buff crea...
by guitarguy
Tue Nov 14, 2017 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

She may think she has good credit but without credit cards, mortgage or loans, she likely doesn't. Combined with no job, I doubt she'd qualify for a mortgage. Work with her to sign up for Credit Karma and check her credit score. It's free, fast and easy and doesn't ding her score. I just looked int...
by guitarguy
Tue Nov 14, 2017 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

One other question: Is Wells Fargo charging fees on the brokerage account that holds the DTE? An AUM fee? (Banks are usually really big on fees, so I would be surprised if they weren't, but I have no knowledge on how WF does brokerage accounts. And I'm guessing that no WF financial advisor is invol...
by guitarguy
Tue Nov 14, 2017 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

I misspoke using the word "fund" I think. At the top of her 1099-DIV, it says "DTE Energy Company Common Stock" so it appears it's a singular DTE stock holding. I agree this is worrisome to me as well with 1/4 of her total retirement assets in a single stock. I really need some good info on what to...
by guitarguy
Tue Nov 14, 2017 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

Also, on the DTE 1099 it's addressed as My Mother's Name TR UA 11/15/04 My Mother's Name Revocable Living Trust address, city, state, zip So in looking at this that reads like the trust is in her name. Hopefully that is the case. Also based on the date, if that TR UA means it was established in 200...
by guitarguy
Mon Nov 13, 2017 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

An unrelated question - your father died 20 years ago and your mother is 66. How is it she has been collecting SS benefits for 20 years? Is that her only source of income? Yes. She was a stereotypical June Cleaver stay at home mom with 3 boys age 11 (me), 8, and 5 when my dad died. I never really g...
by guitarguy
Mon Nov 13, 2017 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

Are you talking about selling some of the stock and discontinuing the dividends from the IRA (that is reinvesting them instead)? The difference tax-wise would be that she'll pay capital gains taxes on the dfference between the sell price and her cost basis in the stock. The dividends from the IRA a...
by guitarguy
Mon Nov 13, 2017 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

Taxable: $106k in DTE stock in Revocable Living Trust at Wells Fargo. I'm guessing this was setup when my Dad died? But not sure and neither is she. <skip> 2. What should I suggest to do with the taxable stock fund? Could you clarify exactly what the "DTE stock" you mention is? If I type "DTE" into...
by guitarguy
Mon Nov 13, 2017 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

Lots of good advice already, adding some minor thoughts. You certainly can manage her accounts online, my brother did that for my Mom at Vanguard (get the form signed). Your Mom's last tax return folder should have statements or 1099 forms for those accounts, they will at least give you all the acc...
by guitarguy
Mon Nov 13, 2017 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

A few thoughts, in no particular order: Since she is somewhat dependent on the dividends from the stock and her IRA, she may be unhappy with more bond exposure. That assumes that the IRA will throw off less income if you move a large percentage to bonds, as you said. Note that I am not arguing that...
by guitarguy
Mon Nov 13, 2017 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Re: Advice needed for parent's finances

Two thoughts before the experts come along: 1. There is a contingent of folks on here who will point out that you logging in to your mom's account is impersonating her and is technically illegal or at least against the terms of service. They would tell you to instead fill out a form for each compan...
by guitarguy
Mon Nov 13, 2017 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3505

Advice needed for parent's finances

Hi All, So my mom has asked me to look over her finances and advise her...basically she's asked for my advice in making sure things are setup in her best interest, and also just about as important, to help explain things to her. Basically she has very little idea about her full financial picture asi...
by guitarguy
Mon Oct 23, 2017 12:41 pm
Forum: Personal Consumer Issues
Topic: what is your weekly workout routine?
Replies: 68
Views: 4337

Re: what is your weekly workout routine?

On MWF I do this Bodyweight workout: 5 sets each of: 10 pull-ups (including wide grip, close grip, and chin-ups) 10 squats 10 pushups Planks: 30 sec each front plank, right side plank, left side plank, then stretch 3-5 times a week I walk 3 miles. I've been working out for decades. Doing Bodyweight...
by guitarguy
Fri Oct 20, 2017 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Honest thanks to everyone that gave me constructive advice to handle it in person, have another person present, do it quickly and firmly, etc. This is the stuff I needed.

I think this thread has run it's course.
by guitarguy
Fri Oct 20, 2017 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

You put it out there so you have to take the good with the bad. Here's my advice for whatever that is worth - Before you do it, talk with the other band members, you don't want this to be a surprise to them since you all will have to work together with the new person. Sit down with the person you h...
by guitarguy
Fri Oct 20, 2017 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Christine_NM wrote:
Fri Oct 20, 2017 2:43 pm
Sorry, gguy, but are you expecting your lead singer to carry a band that has no stage presence? Recent bands I've seen tend to have dirty hair, dress in rags, and look down at the floor. Hope that is not like you.
To answer your question, no.

And we most often perform in suits.
by guitarguy
Fri Oct 20, 2017 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Obviously, you (and your talent agency) are [ ALSO ] looking for a performer/entertainer, not [ JUST ANY ] a person with talent (which you already have, according to what you wrote). There, I fixed that for you. We older folks pretty much know talent and can hear talent. Doesn't matter what the per...
by guitarguy
Fri Oct 20, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

You keep saying to answer the question, but there isn't really a question. You have already made the decision. If you are wedded to it, then execute it in a professional manner. If you can offer severance and COBRA that would be ideal. What else is there to discuss? It seems your band is pretty suc...
by guitarguy
Fri Oct 20, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

I find the basis of this whole thread to be reprehensible. The OP needs to live with themselves. For what it's worth I hired a band to play at my wedding sight unseen - I did not care what they look like so long as they are dressed appropriately and most importantly can play their instruments well ...
by guitarguy
Fri Oct 20, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

and brilliant songwriters by the way, carrying 10 extra lbs Generous for Mama Cass :shock: but when it comes time for me to hire a band, I will almost certainly go for charisma and looks over musical talent. I could never tell the difference between an outstanding group vs good group. OK true haha....
by guitarguy
Fri Oct 20, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Yeah...there was aTom Petty documentary way back when...they talked about it on that too. But I flat out could never do that to her. You could at least foist the blame onto the talent agency partially. "Everyone in the band has decided to sign with the agency but they would only take us if we agree...
by guitarguy
Fri Oct 20, 2017 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

I'd reach out to the management/talent company you're working with. I imagine they have some experience with this and could possibly handle it for you. Was listening to a Freakonomics podcast and Tom Petty had his manager deliver bad news to the Heartbreakers on his behalf when it became clear he s...
by guitarguy
Fri Oct 20, 2017 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Cass Elliot, Ann Wilson, etc. I would tell the agency off. Your looks, guitar playing, stage presence, and singing must not be good enough to overcome the “deficiencies” you and the collective others see in your band partner. Regards, John Ahh the know it all judgemental guy. Thanks for chiming in....
by guitarguy
Fri Oct 20, 2017 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

We play cover songs that other people wrote, smile put on a good show that makes people have fun and feel good, and make piles of money doing it. We help people dance at weddings, and help corporate companies have fun Christmas parties and ribbon cutting ceremonies. Simple as that. When I've been a...
by guitarguy
Fri Oct 20, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

So you see absolutely no possibility that this person could turn things around with the right training and coaching? is the person even aware of their lack of stage presence? or is it more the overall appearance that can't be changed.... See my post above. No, I don't. And we've tried. Multiple tim...
by guitarguy
Fri Oct 20, 2017 11:36 am
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Can you post a picture for us to give you solid advice? This post is not appropriate for this forum. But you’d be a weasel to fire someone on the phone instead of in person. Also if she’s truly a friend then you should give a severance payment. Haha no. Maybe I should've left out the back story and...
by guitarguy
Fri Oct 20, 2017 11:35 am
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Given your age I suggest you find a new person before you tell her she is being replaced. Finding a "personable good talent" for a band that is over 30 but not wanting her own band with her name and control will be really hard. I bet you cannot find someone who will fit. We will have a line of abou...
by guitarguy
Fri Oct 20, 2017 11:32 am
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Have you discussed her upping the ante on her stage presence? I can't tell if you are going from small town band to not as small small town band or if you are moving record label, full contract, produced image. This may not be the right forum or right environment to fire someone based on look/stage...
by guitarguy
Fri Oct 20, 2017 11:16 am
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

Re: I have to fire someone that I care about personally

Is this a real question - because it seems like the plot of a movie or something. I guess you need to decide for yourself what's more important to you. Staying true to your music and your friends, or money / fame / greed / selfishness. On the contrary it's a very real question. We're not an origina...
by guitarguy
Fri Oct 20, 2017 10:57 am
Forum: Personal Finance (Not Investing)
Topic: I have to fire someone that I care about personally
Replies: 83
Views: 5268

I have to fire someone that I care about personally

EDIT: Almost 1000 hits on the thread and very few are focusing on the issue at hand. Please, all, we have discussed and evaluated the decision to make this personnel change over several months. It's not something we're taking lightly. We have worked on coaching, made constructive suggestions, evalu...