Search found 194 matches

by doss
Tue Nov 13, 2018 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Applied for biz credit card -- but fine print says only biz transactions allowed?
Replies: 3
Views: 343

Applied for biz credit card -- but fine print says only biz transactions allowed?

Hi all, My wife just opened a sole proprietorship and then signed up for a business credit card with a 3k minimum spend requirement for 60k points. The fine print on the biz card paperwork that came with the card stated that business transactions should only be charged to the card. However, she won'...
by doss
Tue Nov 06, 2018 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Ally doesn't allow using accounts for business...where to go for free checking for wholesale biz?
Replies: 3
Views: 266

Ally doesn't allow using accounts for business...where to go for free checking for wholesale biz?

Hi all my wife is starting a small wholesale/resale biz and I thought it was best for her to do so as a sole proprietorship for now (we will convert to LLC later). I am trying to set her up with a business checking account so we can keep the biz finances separate from personal finances ...and since ...
by doss
Mon Oct 29, 2018 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Starting a small wholesale/resale biz at local collective market -- should it be an LLC?
Replies: 7
Views: 614

Starting a small wholesale/resale biz at local collective market -- should it be an LLC?

My wife is looking at starting a small wholesale/resale business (mostly clothing, some crafts, etc) and will have a small booth (unmanned) at the local collective market. To protect our assets, should we create a single member LLC? Is there anything else that we should know/do before "setting up sh...
by doss
Mon Oct 22, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: 50% of Cancer Patients Burn Through Their Life's Savings in Just 2 Years
Replies: 70
Views: 7897

Re: 50% of Cancer Patients Burn Through Their Life's Savings in Just 2 Years

Don't be terrified. It's a very misleading headline and an only slightly less misleading study. JT As someone that had cancer in the recent years, the headling was terrifying because I am trying to save for early retirement. I have a constant internal battle with myself as to whether I will get to ...
by doss
Wed Oct 17, 2018 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance for cancer survivor? OR, can I even get insured?
Replies: 16
Views: 1403

Re: How much life insurance for cancer survivor? OR, can I even get insured?

jminv wrote:
Wed Oct 17, 2018 9:59 am
Are those quotes before or after disclosing your medical history to them?
Those quotes are after I told them I was a cancer survivor. But, that does not include the medical history.
by doss
Wed Oct 17, 2018 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: How much life insurance for cancer survivor? OR, can I even get insured?
Replies: 16
Views: 1403

Re: How much life insurance for cancer survivor? OR, can I even get insured?

Do you have life insurance offered through work? Sometimes those policies are not based on health but employment. Federal government agency I am familiar with had policies like this, you could add up to 5x salary coverage (1x is free, part of employment). The non-free coverage got quite expensive a...
by doss
Wed Oct 17, 2018 9:32 am
Forum: Personal Finance (Not Investing)
Topic: The Next Millionaire Next Door: Enduring Strategies for Building Wealth Hardcover will be released October 1, 2018
Replies: 69
Views: 13841

Re: The Next Millionaire Next Door: Enduring Strategies for Building Wealth Hardcover will be released October 1, 2018

I’m a millionaire (very much “next door,” or even “down in the alley,” I buy the $0.88 loaves of bread and all that) and I can tell you there’s nothing to “becoming a millionaire” and it’s overrrated. Who cares? Life was better when we had nothing. Smectym Remember, anything over 70k saw no differe...
by doss
Wed Oct 17, 2018 9:06 am
Forum: Personal Finance (Not Investing)
Topic: How much life insurance for cancer survivor? OR, can I even get insured?
Replies: 16
Views: 1403

How much life insurance for cancer survivor? OR, can I even get insured?

I am shopping around for life insurance and would like to ask for help in determining how much insurance I should get. Unfortunately (or maybe fortunately?) I am a cancer survivor at age 39, so I am guessing the rates are going to be high. Here are the stats: - Family of 3 (me, wife, 2yr old, plan f...
by doss
Sat Oct 13, 2018 9:45 am
Forum: Investing - Help with Personal Investments
Topic: How come I can't transfer all of my HSA cash account into HSA investments?
Replies: 3
Views: 248

Re: How come I can't transfer all of my HSA cash account into HSA investments?

onourway wrote:
Sat Oct 13, 2018 9:41 am
There is probably a $1000 minimum balance requirement. Every HSA account has slightly different rules, but requiring a minimum cash balance is pretty common.
If so, does that mean I can't touch that cash because it will dip below 1k (or if I do, then I'd incur some admin fees)?
by doss
Sat Oct 13, 2018 9:38 am
Forum: Investing - Help with Personal Investments
Topic: How come I can't transfer all of my HSA cash account into HSA investments?
Replies: 3
Views: 248

How come I can't transfer all of my HSA cash account into HSA investments?

My employer now offers a HSA and it looks like my employer made a contribution on 9/21/18 for an amount of $1,500. Since then, I have made a payroll contribution twice (biweekly paycheck) for $230 and $115. That was all in a cash account. Now, I wanted to move some of that to an investment account b...
by doss
Sat Oct 13, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Should we rent a car or take our low mileage 2006 Volvo on a family trip?
Replies: 49
Views: 3240

Re: Should we rent a car or take our low mileage 2006 Volvo on a family trip?

My thinking was that for such a long road trip (mostly through long stretches of barren land) I wouldn't exactly call that route "barren". It is rural and if you take the Indian Nation Turnpike in Oklahoma it can feel empty but you are on major highways pretty much the whole way. It's not like you ...
by doss
Fri Oct 12, 2018 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Should we rent a car or take our low mileage 2006 Volvo on a family trip?
Replies: 49
Views: 3240

Re: Should we rent a car or take our low mileage 2006 Volvo on a family trip?

The drive will be about 12 - 15hrs each way depending on which route we take. We currently have a nice 2006 Volvo S60T with about 70k+ miles on it. My question is....should we just rent a nice full size sedan to do this drive and save the mileage on our car? Looks like prices are about $400+ for ou...
by doss
Fri Oct 12, 2018 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Should we rent a car or take our low mileage 2006 Volvo on a family trip?
Replies: 49
Views: 3240

Should we rent a car or take our low mileage 2006 Volvo on a family trip?

Around Thanksgiving, we will make a family trip (me, wife, 2 1/2 yr old) from STL to northern San Antonio, Texas. The drive will be about 12 - 15hrs each way depending on which route we take. We currently have a nice 2006 Volvo S60T with about 70k+ miles on it. The tires are fine but probably will n...
by doss
Wed Oct 10, 2018 10:36 am
Forum: Investing - Help with Personal Investments
Topic: Should I use my taxable account to pay for medical expenses while contributing more to HSA?
Replies: 5
Views: 556

Re: Should I use my taxable account to pay for medical expenses while contributing more to HSA?

Thanks everyone. I am going to use my taxable brokerage account to pay for medical expenses (but will use points or cash back credit card to make the actual payments) while at the same time trying to max out my HSA contributions. Then, if I need some extra $$ to put towards a large downpayment of so...
by doss
Fri Oct 05, 2018 11:14 am
Forum: Investing - Help with Personal Investments
Topic: Should I use my taxable account to pay for medical expenses while contributing more to HSA?
Replies: 5
Views: 556

Should I use my taxable account to pay for medical expenses while contributing more to HSA?

Hi all, My employer just made available an HSA and they will contribute $$ to it. I am not sure how much they will contribute but I do see a lump sum of $1,500 so far (I think that's it for the year?). I set up my paycheck deduction to about $115/biweekly. With that said, I am hoping to get some adv...
by doss
Tue Oct 02, 2018 4:13 pm
Forum: Investing - Help with Personal Investments
Topic: What fund(s) for my HSA investments?
Replies: 8
Views: 643

What fund(s) for my HSA investments?

My employer has made an HSA available for us this year (we start September) and I need to pick some fund(s) for investment. I am thinking I keep it simple and just wanted to confirm with the forum that the following fund is OK for an HSA? Vanguard 500 Index Fund Admiral Shares , VFIAX, Price: $270.0...
by doss
Tue Sep 18, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: How to watch baseball playoffs without cable
Replies: 36
Views: 2372

Re: How to watch baseball playoffs without cable

Jordan4FI wrote:
Tue Sep 18, 2018 9:04 am
I use www.reddit.com you can find links to all sports and games there. Search in the search block.. ie.. MLBstreams, NFLstreams, GOLFstreams.. and it is all FREE!
Not legal.
by doss
Tue Sep 11, 2018 10:45 am
Forum: Personal Finance (Not Investing)
Topic: How to make the best decision possible (critical thinking process)?
Replies: 1
Views: 279

How to make the best decision possible (critical thinking process)?

I am looking at either buying a new house or expanding our current house. I have a list of items that I need, want, and would like to have. But, I have no idea how to map this all out so I can make the best decision for me and my family (what ifs, if/else, etc). Without getting over complicated (and...
by doss
Tue Sep 11, 2018 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Sprint's iPhone protection plan - Worth it?
Replies: 6
Views: 464

Re: Sprint's iPhone protection plan - Worth it?

ttc5q wrote:
Mon Aug 20, 2018 5:12 pm
Better just to pay your bill with a credit card that offers cell phone protection for free.
If have a lease plan, then the credit card protection benefit does not apply according to my card's fine print.
by doss
Mon Aug 20, 2018 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Sprint's iPhone protection plan - Worth it?
Replies: 6
Views: 464

Re: Sprint's iPhone protection plan - Worth it?

Have you ever filed a claim for a phone? We never have. However we did add it to our teenager's phone. Beware that there is a $100 or so charge to use the "insurance". And I don't think you get a new phone. IIRC it is a refurb. No new phone? OK, going to cancel this. Cheaper to buy refurbished. Edi...
by doss
Mon Aug 20, 2018 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Sprint's iPhone protection plan - Worth it?
Replies: 6
Views: 464

Sprint's iPhone protection plan - Worth it?

Came to the end of my Sprint contract and was eligible for new iPhone X. The customer rep suggested I get the "protection plan" for two lines for a total of $17/mo. I went along with it but wondering if it was a good idea. Does anyone know about Sprint's new protection plan and have any experience u...
by doss
Wed Jun 27, 2018 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Do I lose tax benefits if I move home office out of the home?
Replies: 10
Views: 1122

Re: Do I lose tax benefits if I move home office out of the home?

Wait, I am confused.

So what deductions are available for a remote office?
by doss
Wed Jun 27, 2018 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Do I lose tax benefits if I move home office out of the home?
Replies: 10
Views: 1122

Do I lose tax benefits if I move home office out of the home?

Hi all, I have a home office that I use for a side hustle (I also have a full time job in the corporate world). However, I find that I can not focus/concentrate at home and am looking at renting some coworking space somewhere. If I move my office out of my house, do I lose major tax benefits? What k...
by doss
Fri Jun 22, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Does my AGI include my 401k contributions as a deduction?
Replies: 2
Views: 296

Does my AGI include my 401k contributions as a deduction?

I apologize for asking such a simple question here, but I wanted to double check with the group before making some financial decisions that could be costly down the years. My AGI last year was 125,000. My employer offers a 401k plan where I can elect to do paycheck deductions (either Roth or Traditi...
by doss
Fri Jun 22, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 37
Views: 3757

Re: How to calculate "fun money" per year?

I possibly made a mistake in my original calculations.

Does my original $125k AGI account for my 401k contributions (non Roth)?

So, hypothetically, if I deferred 18k (not Roth) to my 401k and I make 150k, my AGI would be $132,000 ?
by doss
Sun Jun 17, 2018 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 37
Views: 3757

Re: How to calculate "fun money" per year?

OP, I know I'm not ansewring your question but you stated you're not funding the HSA. Why? If you're eligible for an HSA account which is the best saving and investing instrument available, fund it. If you have to, reduce the 401K contribution enough to get the maximum match and use the difference ...
by doss
Sun Jun 17, 2018 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 37
Views: 3757

Re: How to calculate "fun money" per year?

I do have a monthly budget that we aim for in expenses. SO, here's a quick calculation I did to determine some kind of estimate for "left over money/fun money" to use for vacation: AGI = 125000 (last year's) 52800 = expenses (4400/mo) (on high side for us) 32500 = retirement contributions 24000 = (...
by doss
Sun Jun 17, 2018 9:52 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 37
Views: 3757

Re: How to calculate "fun money" per year?

I do have a monthly budget that we aim for in expenses. SO, here's a quick calculation I did to determine some kind of estimate for "left over money/fun money" to use for vacation: AGI = 125000 (last year's) 52800 = expenses (4400/mo) (on high side for us) 32500 = retirement contributions 24000 = (2...
by doss
Sun Jun 17, 2018 9:28 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 37
Views: 3757

Re: How to calculate "fun money" per year?

Do I use my prior year's adjusted gross income (AGI) as a starting point and then subtract my yearly retirement contributions from that, subtract expected monthly expenses, and then subtract monthly savings to get an estimated number for fun money ?
by doss
Sun Jun 17, 2018 9:07 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 37
Views: 3757

Re: How to calculate "fun money" per year?

The Wizard wrote:
Sun Jun 17, 2018 9:06 am
Use leftover money for Fun Money.
Leftover after pay yourself first for retirement investments...
What about savings and monthly expenses? If i use leftover after retirement....I could splurge and have nothing left over for monthly savings and expenses :mrgreen:
by doss
Sun Jun 17, 2018 8:57 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate "fun money" per year?
Replies: 37
Views: 3757

How to calculate "fun money" per year?

Hello BHs, can someone give me some advice on how to determine how much "fun money" we have, if any ? We want to take more vacations each year (this is the goal of the fun money), but I want to also be sure that we are saving up for retirement and big ticket items in the future. Here's what I have p...
by doss
Sun Jun 17, 2018 6:29 am
Forum: Personal Finance (Not Investing)
Topic: Business tax ID number and Proof of current address - how to show?
Replies: 6
Views: 1132

Re: Business tax ID number and Proof of current address - how to show?

Jablean wrote:
Tue Jun 12, 2018 2:27 pm
Were you able to call and see what they needed?
Yes, they just wanted me to send in my EIN letter from IRS.
by doss
Mon Jun 11, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Business tax ID number and Proof of current address - how to show?
Replies: 6
Views: 1132

Re: Business tax ID number and Proof of current address - how to show?

Jablean wrote:
Sat Jun 09, 2018 3:33 pm
Did you apply with your SS number or with a business EIN? Read https://www.fundera.com/blog/business-c ... g-ein-only
I applied with a biz EIN.

I don't have a utility bill to show because I use a home office and the utility is in my personal name.
by doss
Sat Jun 09, 2018 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Business tax ID number and Proof of current address - how to show?
Replies: 6
Views: 1132

Business tax ID number and Proof of current address - how to show?

I recently applied for a business credit card that went to "under review". I got a letter a week later asking for proof (documents dated from within the last 3 months) for the following: 1.) Federal tax ID number 2.) Proof of current business physical address I have 14 days to send those documents. ...
by doss
Fri Jun 01, 2018 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Financial setback stories
Replies: 21
Views: 3661

Re: Financial setback stories

I guess "low 6 figures" has a wide range. I was thinking $120,000. Congratulations to you!!!!! Dang, I did it again. I always say "low 6 figures" when I actually mean "low 100k" figures, lol. Specifically I'm at $150k. So, after taxes, that's not far off from 120k! And I live in a city where I have...
by doss
Fri Jun 01, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Financial setback stories
Replies: 21
Views: 3661

Re: Financial setback stories

In the mid 2000's (in my early 20's) I made mid 6-figures in real estate development and then subsequently lost it all when the market crashed. Good thing I had no debt of any kind, RE development was just a side hustle, and I already had an undergrad and MS degree. Towards the tail end of that exp...
by doss
Tue May 29, 2018 11:38 am
Forum: Personal Consumer Issues
Topic: Please help with grocery budget
Replies: 51
Views: 4701

Re: Please help with grocery budget

Make sure that you are not counting non-food items such as diapers, baking pans, etc in your "food" bill. That scan skew it up pretty drastically. You may find that without those items, your grocery list may not be bad after all. Here's something I thought of...what if you just pick up the sales fly...
by doss
Sun May 27, 2018 7:44 am
Forum: Personal Consumer Issues
Topic: Please help with grocery budget
Replies: 51
Views: 4701

Re: Please help with grocery budget

$69/week to feed a family of 4 dinner 3x a week via hellofresh.com. Fantastic restaurant quality meals. Now their algorithm is efficient and can design meals with leftovers for next days lunch, too!

Coupon.cancel. coupon. Cancel.
by doss
Fri May 25, 2018 7:03 am
Forum: Investing - Help with Personal Investments
Topic: Expenses now are 50k a year...can I plan that for retirement?
Replies: 12
Views: 1339

Expenses now are 50k a year...can I plan that for retirement?

Hello Bogleheads! I'm using the Vanguard Retirement Income Calculator and trying to get an idea of how much income I'll need in retirement with a retirement age goal of 55-57. Currently, we have a toddler but plan to have another in the coming years, so I expect our expenses to increase. Right now o...
by doss
Thu May 24, 2018 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Have a side biz: Should I transfer and then close my biz checking account?
Replies: 11
Views: 917

Re: Have a side biz: Should I transfer and then close my biz checking account?

OP mentioned that he has a EIN and a LLC and not file as S Corp. If you have an EIN, can you still do Sole Prop? If you have EIN, dont you always have a company name? I think what was confused about was that Sole Prop is not AN LLC. But, A single-member LLC may function similarly to a sole propriet...
by doss
Thu May 24, 2018 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Have a side biz: Should I transfer and then close my biz checking account?
Replies: 11
Views: 917

Re: Have a side biz: Should I transfer and then close my biz checking account?

You would know if it is taxed as a S-corp - because you would have to file a 1120s (usually one month before personal taxes are due). There are very big fines if you forget to file it. Also, you would need to run payroll, and file 940, 941, and a state unemployment tax forms for yourself as an empl...
by doss
Thu May 24, 2018 6:25 am
Forum: Personal Finance (Not Investing)
Topic: I've never budgeted sucessfully
Replies: 59
Views: 5673

Re: I've never budgeted sucessfully

I don't want to use Mint, as much as I like it, because it's just another vulnerability having all financial data out there. I have been using mint.com since I'd say 2009 or so. No problems or issues with security. I've spotted fraudulent charges on statements thanks to Mint because I probably woul...
by doss
Thu May 24, 2018 5:56 am
Forum: Personal Finance (Not Investing)
Topic: Have a side biz: Should I transfer and then close my biz checking account?
Replies: 11
Views: 917

Re: Have a side biz: Should I transfer and then close my biz checking account?

niceguy7376 wrote:
Wed May 23, 2018 2:14 pm
Is this your first year with this side biz?
If not, how did you do the tax and filings for prev years.
No, been in biz for 10+ years. Did tax via a CPA but last couple of years did it myself via Turbotax.
by doss
Wed May 23, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Have a side biz: Should I transfer and then close my biz checking account?
Replies: 11
Views: 917

Re: Have a side biz: Should I transfer and then close my biz checking account?

niceguy7376 wrote:
Wed May 23, 2018 12:15 pm
Are you a sole prop or S Corp?
That makes some difference i suppose in terms of money handling
Not 100% sure. I know it's not a Sole Prop but not sure if S Corp? I know it says "disregarded entity" in entity type on my EIN app.
by doss
Wed May 23, 2018 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Have a side biz: Should I transfer and then close my biz checking account?
Replies: 11
Views: 917

Have a side biz: Should I transfer and then close my biz checking account?

I have a side hustle that is an LLC for work that I occasionally pick up throughout the year. There's not much money in my business checking account (I have Navy Federal CU) and there are no fees. But, I am trying to simply my finances and wondering if it's OK to close NFCU and just transfer the mon...