Search found 249 matches

by Brian2d
Tue Jan 17, 2023 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Any entry-level professional tax software?
Replies: 7
Views: 1128

Any entry-level professional tax software?

Hi,

Most individual tax software either doesn't support a form I need, and those that do have issues with it. I was interested to see if there was any reasonably priced professional tax software (which I wouldn't mind learning anyway) that anyone has used that I may be able to try? Only need to file 1 return. Thanks.
by Brian2d
Fri Jan 06, 2023 7:24 pm
Forum: Investing - Theory, News & General
Topic: The Complete Irrelevancy of Dividends
Replies: 138
Views: 8235

Re: The Complete Irrelevancy of Dividends

I don't want a company to pay me dividends. If a company has optimal investment opportunities that will return more than its cost of capital, it should make the investment. If it doesn't, it should buy back its shares from someone who wants to sell them. If I want cash I'm free to sell the shares. And if I want an income stream I'm free to sell the shares needed to produce it. I'm with Warren Buffett on this one.
by Brian2d
Sun Jan 01, 2023 7:22 pm
Forum: Personal Investments
Topic: Error when withdrawing from Vanguard.
Replies: 3
Views: 1341

Re: Error when withdrawing from Vanguard.

Thanks. I added a reply to that thread. Seems I'm not the only one, maybe some kind of bug.
by Brian2d
Sun Jan 01, 2023 6:22 pm
Forum: Personal Investments
Topic: Vanguard blocking withdraw of 3rd party check deposit?
Replies: 18
Views: 3990

Re: Vanguard blocking withdraw?

Just letting you know I'm having the same issue. I did recently transfer funds from the same bank, but the message says I should be able to transfer funds back to that bank. It won't let me withdraw anything, not just the funds that were sourced from the bank.

Maybe some kind of glitch. Will call them next week.
by Brian2d
Sun Jan 01, 2023 5:27 pm
Forum: Personal Investments
Topic: Error when withdrawing from Vanguard.
Replies: 3
Views: 1341

Error when withdrawing from Vanguard.

I'm getting this message when I try to withdraw money from my Vanguard account: "The shares you’re trying to redeem were recently purchased. To protect your account, we can send the proceeds from the sale of those shares only to the institution and account from which they originated. To complete this transaction, you can choose to send the proceeds to the originating institution and account. If you purchased the shares by check, or if you have questions about this transaction, contact us for assistance." I did make a recent deposit, but this is occurring even for the bank from which I sent the recent deposit, and is also occurring for any funds in my account, including other funds that I did not just submit from a bank deposit. An...
by Brian2d
Fri Aug 26, 2022 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: When to travel Business/First class.
Replies: 147
Views: 19299

Re: When to travel Business/First class.

Depends on your reasons, sleep/space etc. But one option from a few East Coast cities to London is a daytime flight if sleep is a concern. Planning to do this on a trip next year.

Another unrelated suggestion: skip the dinner on overnight flights to Europe. The time you're eating is overnight hours where you're going and it eats into time better spent sleeping. Eat before boarding the flight, try to sleep as soon as you board, then wake up and eat breakfast to be better aligned to the time where you're going.
by Brian2d
Mon Jun 13, 2022 3:53 pm
Forum: Personal Investments
Topic: Lost 1 million ! Any body else in same boat ? Looking for some reassurance
Replies: 394
Views: 59875

Re: Lost 1 million ! Any body else in same boat ? Looking for some reassurance

I lost a lot less than that. Would happily trade my portfolio for yours.
by Brian2d
Mon Jun 06, 2022 3:30 pm
Forum: Investing - Theory, News & General
Topic: Could T-Bills sold before maturity get LTCG rate in this scenario
Replies: 1
Views: 300

Could T-Bills sold before maturity get LTCG rate in this scenario

Hi all, Please let me know if I'm missing something here. In the event where someone has: 1. Short term losses (example -$800 STCL) 2. Long term gains greater than the amount of the short term losses (example +$2000 LTCG) 3 Sells a T-Bill before maturity (assume $398 STCG since likely will be sold slightly less than par) If I held the t-bill to maturity (let's say $400 of interest), I would have $400 in interest payments (state tax exempt) and $1200 Long Term Capital Gain after netting. However, if I sold the t-bill prior to maturity, I would have a short term loss of $402 and a long term capital gain of $2000, which nets to a long term capital gain of $1598. Assuming my long term capital gains rate + state tax rate is lower than my ordinar...
by Brian2d
Sat May 14, 2022 10:42 am
Forum: Personal Investments
Topic: anyone else tax loss harvesting like crazy?
Replies: 154
Views: 22149

Re: anyone else tax loss harvesting like crazy?

I tax loss harvested quite a bit in 2020 but haven't had enough losses yet this year to make it worthwhile (most of my fixed income is not in bond funds and didn't buy much stock in 2021). But tax loss harvesting if done properly is definitely not market timing and will do it if the market drops another 5-10 percent.
by Brian2d
Sun Apr 03, 2022 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: 1116 Schedule B even if all credit is available?
Replies: 1
Views: 236

1116 Schedule B even if all credit is available?

Hi all,

I was reviewing my sister's return (prepared by an accountant) and was surprised that they included form 1116 schedule B even though the allowable amount is greater than the amount taken and there is no carryforward. Is filing this schedule necessary to establish an excess for a carryback in the event that not all of the foreign tax credit is available in the following year, or would someone just be able to look at the excess from the regular form 1116 to establish the carryback?

Thanks!
by Brian2d
Sun Mar 06, 2022 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Any reason to e-file vs paper file if I owe?
Replies: 41
Views: 3650

Re: Any reason to e-file vs paper file if I owe?

Thanks. Free Fillable forms and freetaxusa (ive filed using both in the past) do not support the form in question so would not be viable options here. Hadnt heard of OLT but looks like they support this form so I may take a look at that.
by Brian2d
Sat Mar 05, 2022 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Any reason to e-file vs paper file if I owe?
Replies: 41
Views: 3650

Any reason to e-file vs paper file if I owe?

Hi all,

Is there any reason to efile vs paper file if I owe money and don't have to worry about waiting for a refund. I have one form that my preferred tax software does not support (and could pay to e-file using another, of course that would be somewhat offset by mailing costs), but not sure there's any reason to efile if I'm not getting a refund. Is there any reason to avoid filing by paper other than the refund delay?

Always e-filed in the past but this is the first time I've needed this specific form (note its not 1116 sch B).

Thanks!
by Brian2d
Sun Aug 01, 2021 6:35 pm
Forum: Personal Consumer Issues
Topic: .
Replies: 37
Views: 5646

Re: People who live in the Denver area -- how bad is the air quality, really?

I live in the Denver area and it was a great decision. Normally air quality is not a concern, the smog of years past has largely been resolved. That said wildfire smoke can be an issue - last October was especially bad - though otherwise it hasn't stopped me from doing anything.
by Brian2d
Sun May 30, 2021 9:36 pm
Forum: Investing - Theory, News & General
Topic: Equity Return Fallacy #1
Replies: 17
Views: 3307

Re: Equity Return Fallacy #1

For an index fund investor isn't the return of the index less fund costs a better approximation anyway? Assuming you're not cherrypicking indices.
by Brian2d
Fri Feb 19, 2021 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: E-filing form 1116 [FreeTaxUSA]
Replies: 122
Views: 15620

Re: Can't E-file form 1116

I did not file with FreeTaxUSA for this reason, as I got the message after completing the return when I was ready to file. Then tried using H&R Block, and got no warning message, but my H&R Block return was rejected by IRS immediately with no reason given, not sure if it is for this reason or some other (entering form 1116 was not at all intuitive on turbo tax). Then decided to just take my return and enter it in FreeFillableForms, since I had all the forms I needed from the tax form. That return was accepted. I did make one minor mistake(I realized this after the fact): I filed form 8895 instead of 8895A for the 199A dividends even though I was above the income limit, but the result was the same nonetheless, which is how I missed i...
by Brian2d
Sat Jan 16, 2021 1:12 am
Forum: Personal Finance (Not Investing)
Topic: Intentionally Paying Too Much Taxes to Buy I Bonds
Replies: 39
Views: 9191

Re: Intentionally Paying Too Much Taxes to Buy I Bonds

With IRS issues around Covid is there added risk this year that i-bonds could either be delayed or not processed correctly?
by Brian2d
Tue Jan 12, 2021 11:48 pm
Forum: Personal Investments
Topic: iBond rate in TreasuryDirect is wrong?
Replies: 3
Views: 1168

Re: iBond rate in TreasuryDirect is wrong?

I-bonds reset on their anniversary. The rate will update in April to 2.18%, and then be in effect through September.
by Brian2d
Sat Jan 02, 2021 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Chase not honoring sign up bonus offer
Replies: 6
Views: 1162

Re: Chase not honoring sign up bonus offer

If its the Sapphire Preferred the 60,000 points are worth $750 with 1.25 redemption, not sure if this is the potential source of confusion or not.
by Brian2d
Sat Jan 02, 2021 11:26 am
Forum: Personal Consumer Issues
Topic: TurboTax vs HR Block
Replies: 18
Views: 1780

Re: TurboTax vs HR Block

Had the same issue in H&R Block (says not available yet). I was able to enter into TaxHawk.

Not sure which of the two I will use this year - if I decide to get I-Bonds will have to use H&R Block as TaxHawk doesn't support them - otherwise TaxHawk meets my needs.
by Brian2d
Sat Dec 12, 2020 7:59 pm
Forum: Investing - Theory, News & General
Topic: Why not VSS instead of VXUS?
Replies: 26
Views: 5063

Re: Why not VSS instead of VXUS?

I originally took the approach of using small cap int'l to maximize diversity, but as my international allocation for a variety of reasons has aligned much more closely with the global ex-us weight (I no longer overweight US), I'm wondering if I should reconsider that thought. Is holding the global market the best approach, or is there still a maximal diversification benefit to holding int'l small cap because the US is such a large part of the overall global market?
by Brian2d
Wed Nov 25, 2020 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: [Marcus Savings Account - Interest rate is now 0.5%]
Replies: 254
Views: 38382

Re: [Marcus Savings Account - Interest rate is now 1.7%]

Can we start a new thread with a different title? I dont want to keep seeing this rate when I cant get anything close to it anymore.
by Brian2d
Sat Jun 20, 2020 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Learning how to do your own taxes?
Replies: 51
Views: 7033

Re: Learning how to do your own taxes?

For the record, I did my taxes this year using FreeTaxUSA and checked it using TurboTax. There was one discrepancy, which FreeTaxUSA got right and TurboTax got wrong. In short, reading the state instructions allowed something to be counted as a deduction that was not apparent from reading the state form itself. So I was quite impressed with FreeTaxUSA for getting that detail right when TurboTax missed it.
by Brian2d
Thu Jun 04, 2020 8:51 pm
Forum: Personal Consumer Issues
Topic: Need safe escape plan from New York
Replies: 37
Views: 3282

Re: Need safe escape plan from New York

Some airlines (like Delta) are keeping their planes more empty than others. Choose one of those airlines for the trip.

As for transport, if she doesn't have someone who can easily take her, getting a larger vehicle such as a van from a car service would allow for more social distancing from the driver but would be more expensive. I'd probably take a car service over a taxi all else equal in this case.
by Brian2d
Sun Nov 03, 2019 9:41 pm
Forum: Investing - Theory, News & General
Topic: Article on Dividends (J Clements)
Replies: 29
Views: 3899

Re: Article on Dividends (J Clements)

I'm not claiming announcements of dividends and buybacks have exactly the same impact on market value as they could be interpreted differently for signaling purposes and different shareholders may have certain desires for dividend payments. However, you claimed that buybacks are a scam and that they don't return value to shareholders, and that is false. From a cash perspective the amount the company is paying to shareholders (yes, different shareholders) is the same whether it does so via a dividend or a buyback.
by Brian2d
Sun Nov 03, 2019 7:04 pm
Forum: Investing - Theory, News & General
Topic: Article on Dividends (J Clements)
Replies: 29
Views: 3899

Re: Article on Dividends (J Clements)

ruud wrote: Sun Nov 03, 2019 6:58 pm
Brian2d wrote: Sun Nov 03, 2019 6:06 pm Imagine a company that redeems it's entire equity balance. It has 10 outstanding shares worth $100 each for total equity worth $1,000.

Buyback approach: The company buys back the 10 shares at $100 a piece. Now there are 0 outstanding shares and no equity.
I know this was a theoretical/hypothetical scenario, but who would own/control the company after such a transaction? Would it even be possible?
This can be thought of as a company going out of business without going bankrupt after liquidating its holdings and having cash on hand to distribute to its owners. Could also occur in a company selling itself to a larger company for cash. But yes, it's theoretical.
by Brian2d
Sun Nov 03, 2019 6:06 pm
Forum: Investing - Theory, News & General
Topic: Article on Dividends (J Clements)
Replies: 29
Views: 3899

Re: Article on Dividends (J Clements)

Companies return value to the shareholder by 3 ways: dividends, buybacks, or reinvest capital to expand, improve productivity or acquisitions. All methods can be good or bad depending on how the management deploys its cash. Buying back company shares with unwarranted leverage or above intrinsic value may be a bad choice. Then again, increasing dividends when cash flow is poor or better return on investment can be had elsewhere is just as bad. None of the 3 options are either good or bad. It depends on how they are deployed. If your return on investment is greater then $1 for every $1 deployed, it was a good choice. If it wasn't then it is not. I agree if you do not sell you gain no value. Dividends do not give a net increase in value as th...
by Brian2d
Sun Nov 03, 2019 5:56 pm
Forum: Investing - Theory, News & General
Topic: Article on Dividends (J Clements)
Replies: 29
Views: 3899

Re: Article on Dividends (J Clements)

Buybacks are a scam and in no way comparable to dividends. Tell that to Warren Buffet. Absent taxes and the impact of the decision on buyback vs dividend itself, buybacks have the same impact as dividends on the company's value regardless of the stocks valuation relative to intrinsic value. Assuming no taxes and no impact of management's decision on buyback vs dividends on the market's reading of a stock, the two are equivalent. Let's say a company has $400 in assets, $200 in liabilities, and $200 in shareholder equity. It now distributes $20 either as a dividend or a buyback. The company now has $380 in assets, $200 in liabilities, and $180 in shareholder equity, regardless of how that was distributed. Let's assume the company previously ...
by Brian2d
Fri Nov 01, 2019 6:24 pm
Forum: Investing - Theory, News & General
Topic: Series I Savings Bond 0.20% Fixed Rate Announced 11/1/2019
Replies: 6
Views: 2351

Re: Series I Savings Bond 0.20% Fixed Rate Announced 11/1/2019

Glad I bought the rest of my allocation in October.
by Brian2d
Sun Jun 16, 2019 8:04 pm
Forum: Investing - Theory, News & General
Topic: Tax Rate at which to use municipal money market vs Prime or Federal
Replies: 5
Views: 739

Re: Tax Rate at which to use municipal money market vs Prime or Federal

Thanks Grt2bOutdoors. I've done that calculation and gotten different answers at different times...maybe I should just assume its close to a wash in that case?
by Brian2d
Sun Jun 16, 2019 7:58 pm
Forum: Investing - Theory, News & General
Topic: Tax Rate at which to use municipal money market vs Prime or Federal
Replies: 5
Views: 739

Re: Tax Rate at which to use municipal money market vs Prime or Federal

Let's say for this example that the state tax rate is 5%. Also, let's assume for the moment that $50K is not available to put into this fund.
by Brian2d
Sun Jun 16, 2019 7:49 pm
Forum: Investing - Theory, News & General
Topic: Tax Rate at which to use municipal money market vs Prime or Federal
Replies: 5
Views: 739

Tax Rate at which to use municipal money market vs Prime or Federal

Hi,

I know municipal SEC yields for municipal money market move around a lot seasonally and a specific point in time SEC yield may not be relevant for a longer term investment yield.

At what marginal tax rate would municipal generally be worth it (including NIIT)?

I presume it would need to be at least the 32% marginal bracket. At which of the following levels would it likely be worth it to switch to municipal?

Thanks!

32%
32% + 3.8% NIIT
35% + 3.8% NIIT
37% + 3.8% NIIT
by Brian2d
Sun May 26, 2019 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Debt vs Savings
Replies: 54
Views: 6914

Re: Debt vs Savings

I would pay off 11% credit card debt even at the expense of an emergency fund. Worst case scenario is you need to use the credit card again, at least you won't be paying 11% in the interim.
by Brian2d
Sun May 19, 2019 2:52 pm
Forum: Personal Consumer Issues
Topic: Recent Stays in Riviera Maya Area of Mexico
Replies: 11
Views: 2059

Re: Recent Stays in Riviera Maya Area of Mexico

Was there in April when sargassum had just arrived. Looked bad in Playa del Carmen, but not at all in Cozumel, as most of the beaches face West there. Alternatively, the cenotes are great and not to be missed, and I understand Isla Mujeres Playa Norte is not a bad option as well.
by Brian2d
Fri Apr 05, 2019 7:05 pm
Forum: Investing - Theory, News & General
Topic: The "dividend preference anomaly"
Replies: 183
Views: 12473

Re: The "dividend preference anomaly"

I know there are a lot of high dividend index funds, but are there any low dividend index funds to tilt away from dividend payers? I'd consider using one to tilt my portfolio if it existed. I guess proof of dividend funds is that high dividend index funds are far more prevalent than their counterpart.
by Brian2d
Thu Jan 31, 2019 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?
Replies: 62
Views: 7459

Re: TaxAct problems? Anyone have success with a return which includes "backdoor" Roth reporting?

Ran into this same problem after using TaxAct for the past 8 years. Decided to switch to TaxHawk (same as FreeTaxUSA). No problems (so far), better interface, and cheaper as well. Thank you TaxAct for screwing up and saving me some money in the process.
by Brian2d
Thu Jan 31, 2019 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Tax filing software
Replies: 61
Views: 6862

Re: Tax filing software

TaxHawk (same as FreeTaxUSA) handled backdoor Roth no problem. TaxAct (which I have used for the last 7 years but will almost certainly stop using this year) keeps crashing for over a week whenver I try to enter my non-deductable Traditional IRA. So yes, it can handle it. Don't know about mega backdoor roth but don't see why not.
by Brian2d
Fri Dec 28, 2018 9:17 am
Forum: Investing - Theory, News & General
Topic: Buying dips not recommended?
Replies: 52
Views: 5876

Re: Buying dips not recommended?

My strategy is very simple. If I'm above my target allocation in equities, new money goes to fixed. If I'm below my target allocation to equities, new money goes to equity. I can also move money from equity to fixed or vice versa to get closer to my target (doing this in a way that avoids capital gains). This has me buying dips more often than not. Volatility is your friend if you don't have any immediate cash need and can stick to your target allocation through it.
by Brian2d
Wed Dec 05, 2018 10:29 pm
Forum: Personal Investments
Topic: Am I calculating the marginal tax rate correctly here?
Replies: 5
Views: 1205

Re: Am I calculating the marginal tax rate correctly here?

Thanks Grabiner. For the additional point, that's a good clarification I hadn't thought about, that if non-investment income is under 200K, any additional dollar increases the amount subject to NIIT. My goal here is to figure out taxable vs tax-exempt bonds, so I think for that purpose either way the NIIT should be included in the marginal rate. However, the point you raise could be another argument in favor of Traditional vs Roth 401k contributions if non-investment income is below 200K.
by Brian2d
Wed Dec 05, 2018 8:13 pm
Forum: Personal Investments
Topic: Am I calculating the marginal tax rate correctly here?
Replies: 5
Views: 1205

Am I calculating the marginal tax rate correctly here?

Just want to make sure I'm understanding calculating marginal tax rate correctly:

Assume the following:
AGI: $216,000
Taxable Income $204,000
Long Term Capital Gains + Qualified Dividends: $14,000
Taxable Income Less LTCG + Qual Divs: $190,000

Am I correct that the the correct marginal tax rate in this example would be: 32% + 3.8% Net Investment Income Tax = 35.8%.

Even though the person has a taxable income that would put them in the 35% tax bracket, because the LTCG and qualified dividends are only taxed at 15% their marginal tax rate should be based on the $190,000, which would imply 32%.

Thanks!
by Brian2d
Wed Oct 17, 2018 11:25 pm
Forum: Personal Investments
Topic: Transfer VTSAX & VTIAX to Chase You Invest?
Replies: 31
Views: 6147

Sapphire Banking and Chase You Invest Bonus

Different but related question so will post here rather than start a new thread:

If I understand correctly I can meet the $75,000 minimum for the bonus and to waive fees on the sapphire checking account by transferring ETFs in kind from another brokerage. Can someone confirm that this is correct?
by Brian2d
Fri Sep 14, 2018 7:22 pm
Forum: Personal Consumer Issues
Topic: [Wearing] Shorts in Egypt
Replies: 71
Views: 7710

Re: [Wearing] Shorts in Egypt

The zip-off pants I use for hiking would be perfect here. Instant shorts whenever you want them.
by Brian2d
Wed Jul 25, 2018 1:56 pm
Forum: Personal Consumer Issues
Topic: Daughter wants to travel on her own to Montreal
Replies: 105
Views: 8767

Re: Daughter wants to travel on her own to Montreal

In many other countries (Europe comes to mind) such a trip would be quite common and would not raise any concerns at all. I say she should go for it - great experience and gaining the kind of independence that will serve her well at college.
by Brian2d
Tue Jun 26, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Travel hacking for frequent international flights: Chase Sapphire preferred or any other card?
Replies: 21
Views: 3984

Re: Travel hacking for frequent international flights: Chase Sapphire preferred or any other card?

It is my view (and I've done the Math), that if you don't spend enough on dining/travel to make the Sapphire Reserve worth it over the Preferred, you're better off with a 2% cash back no annual fee card (Citi Double Cash, Fidelity card, etc).

I spend enough to make the Sapphire Reserve well worth it, and it's a great card for me.
by Brian2d
Sun Jun 10, 2018 11:23 pm
Forum: Personal Consumer Issues
Topic: Boulder to Denver one day trip
Replies: 3
Views: 701

Re: Boulder to Denver one day trip

Agree after 6 PM traffic will be better than before but it's a short enough drive that I wouldn't worry and I would make the trip whenever I felt like it.
by Brian2d
Tue Apr 24, 2018 12:54 am
Forum: Personal Investments
Topic: 401k lawsuit settlement - Can I rollover to avoid penalty for early distribution
Replies: 2
Views: 814

401k lawsuit settlement - Can I rollover to avoid penalty for early distribution

Hi all,

I am a participant in a plan which recently settled a lawsuit, and received a check along with a 1099-R with distribution code 1. I wanted to know if I can avoid the early distribution and penalty by rolling this amount either back into the 401k or into an IRA. Does anyone have any experience/knowledge with this. Thanks!

Please limit replies to the topic at hand, can this distribution be rolled over. I do not want this thread derailed into a discussion on 401k plan lawsuits beyond the specific question at hand, thanks.
by Brian2d
Mon May 01, 2017 10:27 am
Forum: Personal Investments
Topic: I bonds May 2017
Replies: 66
Views: 13442

Re: I bonds May 2017

Bought 5K last month and decided would revisit in October (once we know November-May variable rate) what to do with the other amount. For now not investing in I-bonds.
by Brian2d
Mon Apr 17, 2017 2:56 pm
Forum: Personal Investments
Topic: I-bond rate as of May 1st
Replies: 10
Views: 2052

Re: I-bond rate as of May 1st

Correcting my previous post to avoid confusion, I think I see my mistake.
by Brian2d
Mon Apr 17, 2017 2:44 pm
Forum: Personal Investments
Topic: I-bond rate as of May 1st
Replies: 10
Views: 2052

I-bond rate as of May 1st

If I'm calculating correctly the rate for the next six months will be (Corrected) 1.96%. Trying to decide if I should buy now or wait until May 1st in hopes of an increase in the fixed rate. Any thoughts? I understand the 10K limit is per calendar year, correct?