Search found 143 matches

by kksmom
Thu Jan 31, 2019 8:46 pm
Forum: Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 29
Views: 2636

Re: Can landlords take the QBI tax break?

er, why is TaxAct saying I qualify for QBI with a single rental property? in Balsamo v. Comm’r., T.C. Memo 1987-477 it was established as a general rule that owning only one rental property can qualify as a business operation. WRT QBI, one would need to meet the 250 hrs wrt that one rental property...
by kksmom
Thu Jan 31, 2019 2:09 pm
Forum: Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 29
Views: 2636

Re: Can landlords take the QBI tax break?

er, why is TaxAct saying I qualify for QBI with a single rental property? in Balsamo v. Comm’r., T.C. Memo 1987-477 it was established as a general rule that owning only one rental property can qualify as a business operation. WRT QBI, one would need to meet the 250 hrs wrt that one rental property...
by kksmom
Thu Jan 31, 2019 11:17 am
Forum: Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 29
Views: 2636

Re: Can landlords take the QBI tax break?

I listened to the podcast provided in the link by travelogue and it was a little scary. Something I am not quite sure about is the part where it states one should aggregate their rentals and sign a sworn statement with your taxes. I have a duplex I treat as two units and an out of state rental - th...
by kksmom
Fri Jan 25, 2019 8:34 am
Forum: Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 29
Views: 2636

Re: Can landlords take the QBI tax break?

... Hopefully, the IRS will clarify this before tax time but it is confusing. Update New IRS guidelines have come out : (REG-107892-18) For QBI for rental prop owners they must sastisfy 250 hrs/yr in the rental business The notice outlines numerous requirements, but here’s the big one: Between 2018...
by kksmom
Thu Jan 24, 2019 10:14 am
Forum: Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 29
Views: 2636

Re: Can landlords take the QBI tax break?

Keep a log - once you reach 750 hrs from enough properties ..you could /may qualify for real estate professional tax status https://www.thetaxadviser.com/issues/2017/mar/navigating-real-estate-professional-rules.html https://www.biggerpockets.com/renewsblog/2014/09/25/your-complete-guide-to-the-real...
by kksmom
Thu Jan 24, 2019 10:09 am
Forum: Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 29
Views: 2636

Re: Can landlords take the QBI tax break?

NNN or Triple-net properties are commercial properties where the tenant or lessee is responsible for all operating costs - costs on building insurance, maintenance, and real estate taxes (the three “nets”) in addition to all other typical fees like rent and utilities.
by kksmom
Thu Jan 24, 2019 8:32 am
Forum: Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 29
Views: 2636

Re: Can landlords take the QBI tax break?

... Hopefully, the IRS will clarify this before tax time but it is confusing. Update New IRS guidelines have come out : (REG-107892-18) For QBI for rental prop owners they must sastisfy 250 hrs/yr in the rental business The notice outlines numerous requirements, but here’s the big one: Between 2018...
by kksmom
Thu Jan 17, 2019 8:14 am
Forum: Investing - Theory, News & General
Topic: John Bogle has died at age 89
Replies: 856
Views: 50839

Re: John Bogle has died at age 89

RIP

One of the countless people who benefited from your words and actions.
by kksmom
Tue Jan 15, 2019 4:54 pm
Forum: Personal Investments
Topic: Retirement accounts maxed out, what to do with extra cash?
Replies: 32
Views: 2136

Re: Retirement accounts maxed out, what to do with extra cash?

In stead of paying down your mortgage (with low interest rate of 3.81%), consider the followings: 1. Use extra money as down pay to buy an investment (rental) property at a good location; 2. Unless your contribution to 401(k) is matched by your employer, do NOT contribute to 401(k), as tax rate wou...
by kksmom
Fri Dec 21, 2018 8:45 am
Forum: Personal Consumer Issues
Topic: firefox RSS feed gone
Replies: 3
Views: 533

firefox RSS feed gone

With the new FF update, support for RSS feeds has gone. Used to use RSS feeds, to follow upon on several sites to see if any topics interesting/applicable to us.

Has anyone seen any workarounds/addons that bring back this functionality.

Thanks
by kksmom
Wed Dec 19, 2018 7:23 am
Forum: Investing - Theory, News & General
Topic: So...do I keep buying more equities?
Replies: 49
Views: 5845

Re: So...do I keep buying more equities?

Having zero money in a cash flowing, good location asset is risk free. What's the risk, if I have $0 in the deal? The bank can take the property.. I've made plenty of money from it over the years 8-) An investment is risky due to lack of education on the part of the investor. Real estate is so forg...
by kksmom
Wed Dec 12, 2018 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 11506

Re: Roth IRA for kids

Going above , re reading your posts I agree/believe with your posts and spirit riders re wage limits and w2 reporting .... That at $400 she'd have to report, and at $600 she'd generate a 1099 from her employer, at which she'd have to pay taxes. Self-employment business profit > $400 requires the com...
by kksmom
Wed Dec 12, 2018 2:36 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 11506

Re: ROTH Ira for kids

If the company is a sole proprietorship owned by you or a partnership of just you and your spouse, your children < 18 are not subject to FICA and < 21 are not subject to FICA. Combined with wages < $600 no W-2 reporting required. Hi Trying to clarify/confirm your statement, for our personal situati...
by kksmom
Wed Nov 14, 2018 8:44 am
Forum: Personal Investments
Topic: Can landlords take the QBI tax break?
Replies: 29
Views: 2636

Re: Can landlords take the QBI tax break?

Not cpa/lawyer...

From what I have read, it doesnt matter if you hold the rental properties in your name /LLC with respect to the jobs act/QBI
We have personally found it beneficial in having a CPA well versed/experienced in real estate.
by kksmom
Sun Oct 28, 2018 12:30 pm
Forum: Personal Consumer Issues
Topic: When to get a new toilet?
Replies: 52
Views: 4008

Re: When to get a new toilet?

Is water paid for by the tenant or you?
if paid by you, may be the newer toilets would pay for itself
by kksmom
Mon Mar 12, 2018 6:40 am
Forum: Investing - Theory, News & General
Topic: jlcollinsnh - Stock Series
Replies: 14
Views: 2905

Re: jlcollinsnh - Stock Series

JL Collins: "The Simple Path to Wealth" | Talks at Google

https://www.youtube.com/watch?v=T71ibcZAX3I
by kksmom
Thu Jan 25, 2018 6:54 pm
Forum: Investing - Theory, News & General
Topic: 401k millionaires
Replies: 158
Views: 27266

Re: 401k millionaires

I recall when Mitt Romney had many millions in his 401K, some of us tried to figure out if it would be even possible to have vast amount in 401K account given the historical max limits on the annual contribution. I recall the conclusion was we needed to have FANG type equities purchased at pre-IPO ...
by kksmom
Mon Jan 22, 2018 10:57 am
Forum: Investing - Theory, News & General
Topic: jlcollinsnh - Stock Series
Replies: 14
Views: 2905

Re: jlcollinsnh - Stock Series

The simple path to wealth is great book

Here is a short video by the author re FU money
https://www.youtube.com/watch?v=eikbQPldhPY
by kksmom
Sun Jan 07, 2018 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate Investing: Cash Purchase vs. Mortgage
Replies: 10
Views: 1379

Re: Real Estate Investing: Cash Purchase vs. Mortgage

The math for leverage is compelling. Consider the following: You have $200,000 to invest. There are two identical rental homes adjacent to each other that cost $200,000 each. You can buy one with cash, or both with 50% leverage.... Iam sure you were trying to make the math simple, but new investors...
by kksmom
Sat Jan 06, 2018 10:19 am
Forum: Investing - Theory, News & General
Topic: "Can I Really Retire at 40?" What to Tell Clients
Replies: 53
Views: 8793

Re: "Can I Really Retire at 40?" What to Tell Clients

I've been so pumped over the last month thinking that I could retire at 45 (10 years from now) w/ 25x spend. Back to the drawing board. https://www.madfientist.com/safe-withdrawal-rate/ "Kitces highlights some impressive stats to show how safe the SWR actually is: “the safe withdrawal rate actually...
by kksmom
Mon Oct 30, 2017 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: college savings: 529 or Roth IRA owned by child?
Replies: 6
Views: 1055

Re: college savings: 529 or Roth IRA owned by child?

Re paying Medicare/FICA/FUTA taxes , depends on how your business is "structured"

https://www.irs.gov/businesses/small-bu ... amily-help
by kksmom
Fri Sep 29, 2017 12:49 am
Forum: Personal Finance (Not Investing)
Topic: Becoming a Landlord: My Experiences
Replies: 136
Views: 30303

Re: Becoming a Landlord: My Experiences

Even if you have good returns(which means profit after accounting for expenses besides PITI), its no where near passive as index investing(managing tenants or managing the property manager)- so we buy properties only when the Return aka cash on cash is worth the trouble(we buy only local , and never...
by kksmom
Tue Aug 29, 2017 11:26 am
Forum: Personal Investments
Topic: Starting a Roth IRA for a 9 year old
Replies: 20
Views: 2863

Re: Starting a Roth IRA for a 9 year old

http://irakids.com/
The above site provides some useful info.
by kksmom
Wed Feb 24, 2016 11:12 am
Forum: Investing - Theory, News & General
Topic: Rental Property Near University, Thoughts?
Replies: 50
Views: 3855

Re: Rental Property Near University, Thoughts?

Have parents be cosigners to the lease...Make sure the parents are credit worthy and would pay up for the antics/damages of their offspring's.
by kksmom
Sat Feb 13, 2016 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Bizarre lease problem
Replies: 33
Views: 3778

Re: Bizarre lease problem

Couldn't find the official California(i guessed from your post) state law website re landlord tenant law, on quick search. As others have noted it depends on local laws .. Here is a link that might help.. http://californialandlordtenantlaw.blogspot.com/2012/02/what-to-do-with-tenants-abandoned.html ...
by kksmom
Mon Jan 04, 2016 4:33 pm
Forum: Personal Consumer Issues
Topic: How do you keep your young kids busy/occupied?
Replies: 37
Views: 4266

Re: How do you keep your young kids busy/occupied?

Jozxyqk wrote:
It sure is tough to ignore when my 3yo just comes up and says "Daddy! Play with me!"

Every time I say "sorry kid, not right now" I can't help but think that it won't be too long before these days are completely gone.

I usually relent.
Cats in the cradle...they grow up so fast...
by kksmom
Sun Jan 03, 2016 6:02 pm
Forum: Personal Investments
Topic: Can I invest in two 401ks the same year?
Replies: 8
Views: 927

Re: Can I invest in two 401ks the same year?

http://whitecoatinvestor.com/beating-the-51k-limit-friday-qa-series/ Q. Is the $51K limit per person or per job? A. In 2013, the total of employee and employer contributions to retirement plans such as 401Ks, 403Bs, 457Bs, Solo 401Ks, SEP-IRAs, Profit-Sharing Plans, Keoghs etc is $51,000. (Add $550...
by kksmom
Sun Jan 03, 2016 5:23 pm
Forum: Personal Investments
Topic: Can I invest in two 401ks the same year?
Replies: 8
Views: 927

Re: Can I invest in two 401ks the same year?

http://whitecoatinvestor.com/beating-the-51k-limit-friday-qa-series/ Q. Is the $51K limit per person or per job? A. In 2013, the total of employee and employer contributions to retirement plans such as 401Ks, 403Bs, 457Bs, Solo 401Ks, SEP-IRAs, Profit-Sharing Plans, Keoghs etc is $51,000. (Add $5500...
by kksmom
Fri Jan 01, 2016 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Permanent Life Insurance- Northwestern Mutal
Replies: 42
Views: 3821

Re: Permanent Life Insurance- Northwestern Mutal

For some reason, its almost always a NWM salesperson, that every medical student knows as a financial advisor, in our area.
Catch them young...
by kksmom
Fri Nov 20, 2015 10:33 am
Forum: Investing - Theory, News & General
Topic: How Do You Ignore the Noise?
Replies: 51
Views: 6149

Re: How Do You Ignore the Noise?

livesoft wrote:Years ago I became One with the Noise. I Embrace the Noise. I am the Noise.

Then Anything Else is the Signal. Pay attention to the Signal.
"tat tvam asi"
by kksmom
Fri Oct 30, 2015 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Upper Bound On 2016 Tax-Advantaged Account Contributions?
Replies: 13
Views: 1016

Re: Upper Bound On 2016 Tax-Advantaged Account Contributions?

I have seen this advice on other forums pretty regularly for sequencing of funding accounts/projects: .... -Item 3 - $6,750 total for family (my employer covers $1,500 of this) ... For 2015; hsa contribution limit ( employer+employee) for family is 6650....assuming you are not eligible for catch up...
by kksmom
Mon Aug 24, 2015 9:48 am
Forum: Investing - Theory, News & General
Topic: "FEAR" Is Here,...
Replies: 53
Views: 8857

Re: "FEAR" Is Here,...

nisiprius wrote: Maybe not, but it can go to zero. It has happened 2 out of 23 times between 1900 and today, in the study of 23 national stock markets conducted by Dimson & al.

...
Interesting will look up those 2 times/places, thanks.
by kksmom
Mon Aug 24, 2015 8:05 am
Forum: Investing - Theory, News & General
Topic: "FEAR" Is Here,...
Replies: 53
Views: 8857

Re: "FEAR" Is Here,...

Does the falling knives analogy apply when buying the whole market (total stock ) versus buying individual stocks?
by kksmom
Thu Jul 02, 2015 3:44 pm
Forum: Personal Investments
Topic: Solo 401k for real estate llc?
Replies: 9
Views: 2047

Re: Solo 401k for real estate llc?

pshonore wrote:Does the rental LLC income count as "earned income"?
rodmcgregor wrote:No it is passive
With the exception for a "real estate professional"..
by kksmom
Tue May 19, 2015 12:28 am
Forum: Investing - Theory, News & General
Topic: Supreme Court to hear fiduciary duty/high cost funds case
Replies: 51
Views: 9102

Tibble et al. v. Edison - supreme court ruling 401k fees

[Thread merged into here, see below. --admin LadyGeek] http://www.latimes.com/business/la-fi-court-edison-401k-fees-20150519-story.html#page=2 " In a move that could brighten retirement prospects for millions of Americans, the U.S. Supreme Court ruled that employers have a duty to keep watch over 4...
by kksmom
Thu Apr 09, 2015 11:33 pm
Forum: Personal Consumer Issues
Topic: Rental flooring decision
Replies: 36
Views: 5995

Re: Rental flooring decision

You have the click-lock or the glue down Allure? The glue one is going to warp in the bathroom.... Ours is the glue strip ; ie traffic master allure regular , currently---but have heard that the interlocking variety of traffic master allure ultra is waterproof. http://community.homedepot.com/howto/...
by kksmom
Thu Apr 09, 2015 10:39 pm
Forum: Personal Consumer Issues
Topic: Rental flooring decision
Replies: 36
Views: 5995

Re: Rental flooring decision

Thanks for the info. I have always thought Vinyl was very cheap and the cheapest flooring you could get. But, so many positive comments about vinyl here, I will have to look up this Allure Vinyl that looks like wood at Home Depot. Especially, If I can use it throughout the house and not have to wor...
by kksmom
Wed Apr 01, 2015 2:48 am
Forum: Personal Finance (Not Investing)
Topic: Bamboo vs Engineered Hardwood floor?
Replies: 12
Views: 4498

Re: Bamboo vs Engineered Hardwood floor?

Bamboo scratches and dents easier. Also tends to crack in dry climates - Doesnt seem to be ideal for a rental.
Google bamboo floor reviews for more details.

Could try something like traffic master allure interlocking free floating planks- durable, looks like hardwood, waterproof.
by kksmom
Fri Mar 27, 2015 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Graduating Medical Student- Rent vs. Buy in Residency
Replies: 45
Views: 7346

Re: Graduating Medical Student- Rent vs. Buy in Residency

It's also hard on the spouse to see all the other residents' spouses in nicer homes. You can rent very nice homes. Too many people have this idea of a crappy apartment when they think "rental" and this idea of an awesome brand new mansion when they think "own." I had neighbors 3 doors down who rent...
by kksmom
Wed Mar 18, 2015 7:14 am
Forum: Personal Consumer Issues
Topic: House Foundation Cracks, No big deal or RUN!
Replies: 24
Views: 5163

Re: House Foundation Cracks, No big deal or RUN!

If you require a contractor to do any work (related to inspection) , it may fall under EPA lead RRP laws(being pre 1978 structure) based on the surface area that is involved and activities it may involve. It applies to even owner occupied homes, if there's a contractor involved. Lead? In a foundati...
by kksmom
Tue Mar 17, 2015 2:19 pm
Forum: Personal Consumer Issues
Topic: House Foundation Cracks, No big deal or RUN!
Replies: 24
Views: 5163

Re: House Foundation Cracks, No big deal or RUN!

Hello All, The home inspection for a house we are buying just came through. It's an older (1929) single family house downtown. Everything looks good with the exception of some cracking in the foundation. This is not unique to the area, the house next door required extensive foundation work per the ...
by kksmom
Mon Mar 16, 2015 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Rental offer on house for sale
Replies: 8
Views: 1330

Re: Rental offer on house for sale

Hi, If a house is on sale to buy for $400,000, what would be the range of monthly rents that would be a fair deal? What if the house has been on the market for 2 years without any significant price cuts and possibly worth $360,000-$370,000? Thank you. As others mentioned, the rental price has often...
by kksmom
Sun Mar 15, 2015 5:39 am
Forum: Personal Finance (Not Investing)
Topic: Sell gas station for one dollar
Replies: 48
Views: 10124

Re: Sell gas station for one dollar

Off tangent ... this is something that can also affect homeowners with underground oil tanks. the cost of remediation are crazy. Buyers need to be aware if they have any current tanks, re old tanks -what you dont know cant be revealed in sales disclosure like lead paint etc. Also dont believe these ...
by kksmom
Sat Mar 14, 2015 11:22 am
Forum: Personal Investments
Topic: Protect rollover IRA from potential lawsuit
Replies: 41
Views: 8279

Re: Protect rollover IRA from potential lawsuit

If you have a good current 401k acct, could you not rollover these?
If not consolidate all in one of the better 401 k?

Added benefit of opening up space for any backdoor roths.
by kksmom
Thu Mar 12, 2015 6:32 am
Forum: Personal Consumer Issues
Topic: Board certification alternative (medicine)
Replies: 10
Views: 1792

Re: Board certification alternative (medicine)

thanks for the link
So true, hope it succeeds.

Board certified though.
by kksmom
Fri Mar 06, 2015 8:50 am
Forum: Personal Investments
Topic: Which 529 plan are you using?
Replies: 61
Views: 9621

Re: Which 529 plan are you using?

erdoc0919 wrote:http://www.hcplive.com/physicians-money ... ntry-Dahle

There is a chart mid way down the article showing which plan you should use based on where you live. Typically Utah (which I use) is the best. I live in PA.

great table, thanks
by kksmom
Wed Feb 25, 2015 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: physicians [Frustrated, considering early retirement]
Replies: 132
Views: 16329

Re: physicians [Frustrated, considering early retirement]

Working with acutely sick inpatients, Weirdly enjoy the stress of diagnosing and managing these patients. Of course dont care for the rude pts/families, but this is mostly ignorance on their part. stupid G laws/ regulations, that compromise pt care. Other professionals who prefer to shunt/not take r...