Search found 1320 matches

by RustyShackleford
Fri Dec 14, 2018 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 form 1040 released
Replies: 11
Views: 1306

Re: 2018 form 1040 released

rkhusky wrote:
Fri Dec 14, 2018 8:22 am
Perhaps most people will not need any schedules. I only need one.
Didn't the old 1040A and 1040EZ address those people ?
by RustyShackleford
Fri Dec 14, 2018 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion No Brainer?
Replies: 19
Views: 853

Re: Roth Conversion No Brainer?

So, this should be the first of many years of me converting all I can to stay in the 12% bracket? Yes ! Exactly what I've been doing for some years. Except previously it was the 15% bracket, and thanks to recharacterization, one could fine-tune things after year's end; I even made mulitple conversi...
by RustyShackleford
Thu Dec 13, 2018 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming dilemma-Would love opinions
Replies: 18
Views: 1515

Re: Social Security Claiming dilemma-Would love opinions

However the calculator said that my best strategy would be for my wife to claim spousal benefits at age 66 ( she was born before 1953 so can file a restricted application) while I file for my benefits when I turn 64. Your situation is very similar to my wife's and mine (except with gender reversed)...
by RustyShackleford
Thu Dec 13, 2018 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: New job, sales at Subaru
Replies: 45
Views: 4865

Re: New job, sales at Subaru

... from what I have seen Subaru has a cult like following and sell really well built cars. I heard two remarkable things about them. One, they are the only brand in the world which increased its sales during the great recession. Two, an amazingly large number of their buyers pay cash. This later s...
by RustyShackleford
Tue Dec 11, 2018 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: foreign tax in Vgd year-end distribution estimates
Replies: 2
Views: 190

foreign tax in Vgd year-end distribution estimates

So Vanguard released the estimates of year-end distributions for their funds: http://vanguard.com/pdf/RET891511_122018_final.pdf This is nice for those of us who like to fine-tune our income at the end of the year, generally to try to fully utilize a low marginal federal tax bracket like the 12% (fo...
by RustyShackleford
Wed Dec 05, 2018 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA timing
Replies: 8
Views: 763

Re: IRMAA timing

HueyLD wrote:
Wed Dec 05, 2018 1:39 pm
That link is nonsense and confusing.
I guess it's true: you really can't trust everything you read on the internet. Thanks.
by RustyShackleford
Wed Dec 05, 2018 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA timing
Replies: 8
Views: 763

Re: IRMAA timing

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by RustyShackleford
Wed Dec 05, 2018 1:01 am
Forum: Personal Finance (Not Investing)
Topic: IRMAA timing
Replies: 8
Views: 763

Re: IRMAA timing

DELETED
by RustyShackleford
Tue Dec 04, 2018 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA timing
Replies: 8
Views: 763

Re: IRMAA timing

Mlm wrote:
Tue Dec 04, 2018 9:02 pm
IRMAA thresholds are frozen through 2019. Starting in 2020 they will be adjusted for the CPI
Thanks. So starting in 2020 the AGI thresholds will be adjusted. We still don't know what will happen to the surcharge amounts, but that's only of secondary importance.
by RustyShackleford
Tue Dec 04, 2018 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA timing
Replies: 8
Views: 763

IRMAA timing

There's a lot of threads on IRMAA (increased Medicare premiums for higher-income persons) here. But there's one simple thing I can't figure out. I understand that IRMAA surcharges for the current year (year i ) are determined by AGI two years previous (in year i-2 ). So right now I can see that I ha...
by RustyShackleford
Tue Dec 04, 2018 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: County not accepting 2018 property taxes in 2018 - need help with ideas.
Replies: 138
Views: 6765

Re: County not accepting 2018 property taxes in 2018 - need help with ideas.

If you drop a check in the mail, can't you deduct it based on when the letter was post marked? That’s what I am hoping....I might do that as what’s the worst that can happen. Either they won’t cash it, or send it back....right? Well, it's not just if they'll accept it, but whether the IRS later dec...
by RustyShackleford
Tue Nov 27, 2018 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: How do tax brackets work?
Replies: 37
Views: 5613

Re: How do tax brackets work?

Haven't gone through this whole thread, but I don't think this is mentioned ... There's a phenomenon where one sees artificially or counterintuitively-high marginal rates. It's been an issue for me, as a retiree, trying to use every drop of the 15% marginal tax rate to do partial Roth conversions. I...
by RustyShackleford
Sun Nov 25, 2018 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: How do tax brackets work?
Replies: 37
Views: 5613

Re: How to tax brackets work?

...The IRMAA amount (extra amount high-income taxpayers pay for Medicare) is not like this. If a couple's income is $170,001 instead of $170,000, they are going to pay an extra $50+ for Medicare every month (see the table in https://65medicare.org/what-is-irmaa) ! IRMAA numbers for a couple are wor...
by RustyShackleford
Fri Nov 23, 2018 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: How do tax brackets work?
Replies: 37
Views: 5613

Re: How to tax brackets work?

The entire income is not taxed at the rate of the bracket one happens to be in - just the amount above the cut-off. It's a not uncommon misconception that when your taxable income goes into the next higher tax bracket, that the entire amount is then taxed at that higher bracket. If you think about ...
by RustyShackleford
Wed Nov 21, 2018 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Amazon says TurboTax 2018 will be released November 12
Replies: 85
Views: 9879

Re: Amazon says TurboTax 2018 will be released November 12

sonosoldi3112 wrote:
Fri Nov 16, 2018 7:37 pm
I usually buy Mac download Premier ... but no sign of that .... hope it is not discontinued as I have K1 form.
I have it.
by RustyShackleford
Thu Nov 15, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Amazon says TurboTax 2018 will be released November 12
Replies: 85
Views: 9879

Re: Amazon says TurboTax 2018 will be released November 12

Speaking of Mac, supposedly the 2018 versions of Turbotax need an upgrade to Sierra. But I've found it seems to run fine on ElCapitan. So far, at least. Turbotax support's answer is predictably CYA ("maybe it's working for you, but we can't guarantee that it will continue to" and the like).
by RustyShackleford
Thu Nov 15, 2018 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Embarrassing simple calculation question
Replies: 16
Views: 1189

Re: Embarrassing simple calculation question

Bond YTM calculation is - in general, where par is different (usually higher) than purchase price and there are coupon payments too - pretty complicated. There are a a variety of calculators out there, but this is the best I've found: https://dqydj.com/bond-yield-to-maturity-calculator/ I still can'...
by RustyShackleford
Tue Nov 13, 2018 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Q: Post Retirement Roth Contribution (Vanguard) & Earned Income Requirement
Replies: 14
Views: 732

Re: Q: Post Retirement Roth Contribution (Vanguard) & Earned Income Requirement

FiveK & RustyShackleford: For five times, Beatle Boots bows and says: I'm not worthy"... Yeah, don't take my comment to the bank: like I said, the language I've found is a little squirrelly. As usual, Fairmark comes through (and as usual I'm overly paranoid about what's allowed). This explains it w...
by RustyShackleford
Tue Nov 13, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Q: Post Retirement Roth Contribution (Vanguard) & Earned Income Requirement
Replies: 14
Views: 732

Re: Q: Post Retirement Roth Contribution (Vanguard) & Earned Income Requirement

The MAGI calculation for Roth IRA purposes is https://www.irs.gov/publications/p590a#en_US_2017_publink1000230985. Note that it makes no difference which of the MFJ filers has earned the AGI. Nor does it matter which has the compensation. I'm not talking about the MAGI phase-out limits. I'm talking...
by RustyShackleford
Tue Nov 13, 2018 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Q: Post Retirement Roth Contribution (Vanguard) & Earned Income Requirement
Replies: 14
Views: 732

Re: Q: Post Retirement Roth Contribution (Vanguard) & Earned Income Requirement

FiveK & RustyShackleford: For five times, Beatle Boots bows and says: I'm not worthy"... Yeah, don't take my comment to the bank: like I said, the language I've found is a little squirrelly. I've asked at Fairmark, stay tuned there if you think this may be an option for you. If it is, be aware your...
by RustyShackleford
Tue Nov 13, 2018 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Q: Post Retirement Roth Contribution (Vanguard) & Earned Income Requirement
Replies: 14
Views: 732

Re: Q: Post Retirement Roth Contribution (Vanguard) & Earned Income Requirement

Also, I believe that if you are married and filing jointly, you can consider your spouse's earned income (minus their own Roth contribution) when determining what your contribution can be. I tried to find a link, and the language is a bit squirrelly, saying that a working spouse "can fund a non-work...
by RustyShackleford
Tue Nov 06, 2018 2:53 am
Forum: Personal Finance (Not Investing)
Topic: Northwest Federal 2% APY checking account
Replies: 6
Views: 667

Re: Northwest Federal 2% APY checking account

Fidelity's CMA can be used as a checking account. You can have the money invested in SPRXX (currently 1.99%). SPRXX is automatically liquidated to meet withdrawals. Holy cow, I had no idea how much money market rates have gone up (your post made me realize). Vanguard Prime is pushing 2% these days,...
by RustyShackleford
Mon Nov 05, 2018 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Northwest Federal 2% APY checking account
Replies: 6
Views: 667

Northwest Federal 2% APY checking account

Just got a flyer from Northwest Federal Credit Union offering a 2% APY checking account (on balances up to $20,000). Recall this is the same outfit that offered a 3yr/3% CD about 3 years ago that we were all falling all over ourselves to purchase. Learning at the time that getting cash into (and now...
by RustyShackleford
Thu Oct 25, 2018 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

Holy cow, IRMAA can be a real show-topper for MFS: huge jump in Medicare payment if you're over $85K MAGI.
by RustyShackleford
Mon Oct 22, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

DSInvestor wrote:
Sun Oct 21, 2018 11:54 pm
Are you getting Premium Tax Credit for health insurance? If so, MFS would make you ineligible for this tax credit.
Doesn't apply, but thanks for the heads up. Income too high, plus I get health insurance as retiree of state.
(Medicare Advantage).
by RustyShackleford
Sun Oct 21, 2018 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

The TIAA-CREF account is a 401(a) account. In this case you are free to contribute to backdoor Roth IRA. Just make sure both your contribution and conversion are completed prior to December 31 of each calendar year. To answer the main question of this thread, this means in your particular circumsta...
by RustyShackleford
Sun Oct 21, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

Not sure what "moral equivalent" means. If your funds are in 401k or 403b or 457 plans, you are safe. By moral equivalent I mean that my TIAA-CREF account is funded (mostly) with after-tax dollars and grows tax-deferred, much like a TIRA, and that I can move the funds to my Roth IRA, adding the pre...
by RustyShackleford
Sun Oct 21, 2018 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

So far I'm seeing no downside to MFJ for us. My income is a lot lower (it's all dividends and interest, except for a little consulting, and Roth conversions), but my AGI is still $50K or so (aiming for top of 12% bracket with $12K standard deduction).
by RustyShackleford
Sun Oct 21, 2018 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

The super important point you should be aware of is that, the year beginning and year end balances in ALL your nonRoth IRAs should be zero. Otherwise your conversion is treated as a fractional conversion of your basis, please see and understand instructions for Form 8606 Hmm, even if you have a sep...
by RustyShackleford
Sun Oct 21, 2018 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

http://www.asktaxguru.com/2891-what-disadvantages-filing-married-filing-separate-your.html more cons of MFS Cool list, thanks. I have to say, I don't understand #1 (MFS generally has higher tax rate), since the bracket break-points for MJ are exactly double those for single and MFS (unless you're w...
by RustyShackleford
Sun Oct 21, 2018 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

I think when couples decide to file separately, often it is because one of them can then get a big tax break or other benefit. Since retiring awhile back, I have finely tuned my taxable income to exactly fill the 12% (formerly 15%) federal marginal tax bracket, using Roth conversions (and some basi...
by RustyShackleford
Sun Oct 21, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Re: Roth contribution limits for married filing separately

neurosphere wrote:
Sun Oct 21, 2018 2:05 pm
Consider researching if 1) a backdoor Roth is appropriate for you and 2) whether you can take advantage of a backdoor Roth if you file separately (since a regular Roth contribution is not allowed).
It appears to me that you can't deduct your TIRA contribution if you're MFS (and AGI is over $10K).
by RustyShackleford
Sun Oct 21, 2018 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Roth contribution limits for married filing separately
Replies: 16
Views: 1013

Roth contribution limits for married filing separately

Having just gotten married this year, I'm looking over the pros and cons of filing jointly or separately. One odd thing that jumped out at me: apparently if you're MFS and your MAGI is over $10,000, you can't contribute at all. This seems very odd. Am I missing something ? What is the rationale ? Ad...
by RustyShackleford
Fri Oct 19, 2018 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: keep cash in after-tax for bridge to Social Security ?
Replies: 38
Views: 3617

Re: keep cash in after-tax for bridge to Social Security ?

I used Savings, CDs and LTd Term Tax Exempt fund for most of the bridge. I also didn't put the whole bridge aside. Used taxable distributions to bridge the bridge so to speak. A lot depends on your tax bracket if you want to use tax free or fund the whole bridge in taxable from the start. I keep my...
by RustyShackleford
Thu Oct 18, 2018 11:29 pm
Forum: Investing - Help with Personal Investments
Topic: portfolio help
Replies: 3
Views: 409

Re: portfolio help

Thanks for responding. I don't invest in futures, so I can't comment ... You mean the DBC commodity thing ? Yeah, wish I hadn't done that, but gonna wait and see if it recovers at some point, and as you say, it's small. I assume with two SS, two RMDs/annuity payments etc you will be over $100k incom...
by RustyShackleford
Thu Oct 18, 2018 2:05 pm
Forum: Investing - Help with Personal Investments
Topic: portfolio help
Replies: 3
Views: 409

Re: portfolio help

Putting my thoughts in a separate post ... I plan to use the 12% federal bracket to do Roth conversions out of the TIAA-CREF account (it's the moral equivalent of a TIRA), and should be able to convert the VBITX and perhaps half of the TIAA Real Estate. Then when I turn 70yo, I will take Social Secu...
by RustyShackleford
Thu Oct 18, 2018 2:00 pm
Forum: Investing - Help with Personal Investments
Topic: portfolio help
Replies: 3
Views: 409

portfolio help

Emergency funds: none specifically earmarked, but plenty available in portfolio (redeemable CDs) Debt: none Tax filing status: MFJ (probably, but 2018 will be first married year, so not sure yet) Tax rate: 12% federal ( I use Roth conversions and basis step-up to exactly fill bracket), 5.5% state St...
by RustyShackleford
Wed Oct 10, 2018 12:01 am
Forum: Personal Finance (Not Investing)
Topic: Received IRS notice CP 2000 asking more tax. Need help.
Replies: 26
Views: 3167

Re: Received IRS notice CP 2000 asking more tax. Need help.

Relax, I've had a couple of these, easily resolved. In fact, the net effort on the last one was a long phone call. After explaining myself about 3 times, the agent went away briefly and said "ok, I'm going to change your add'l tax owed to zero, you should get a confirmation letter later".
by RustyShackleford
Mon Oct 08, 2018 1:54 pm
Forum: Investing - Help with Personal Investments
Topic: keep cash in after-tax for bridge to Social Security ?
Replies: 38
Views: 3617

Re: keep cash in after-tax for bridge to Social Security ?

I've got a whopping big after-tax CD maturing in October. If I decide to buy equities with it, I'd need to sell some in tax-deferred (to maintain my AA). But I don't have any equities in my TIRA (aka. TIAA-CREF RA), so I'd have to sell some in my Roth. And I'm not sure that makes sense. I agree wit...
by RustyShackleford
Thu Oct 04, 2018 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: social considerations with gaming credit cards
Replies: 21
Views: 2595

Re: social considerations with gaming credit cards

I'm totally comfortable with getting one over on BofA; AMTRAK not so much. Why would you enjoy "putting one over" on Bank of America, but not AMTRAK? Because I think that banks, especially the huge ones, are evil; you may laugh, and I'm not going to get into a discussion about it (inappropriate her...
by RustyShackleford
Wed Oct 03, 2018 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: how difficult is Form 1116 (foreign tax credit)
Replies: 12
Views: 653

Re: how difficult is Form 1116 (foreign tax credit)

That said, on the TIPS side are you talking about a TIPS mutual fund/ETF or individual TIPS? I would rather do Form 1116 than deal with the reporting of individual TIPS in taxable. However, if you own a fund/ETF, the "phantom interest" isn't an issue--it's just another dividend paid by the fund. In...
by RustyShackleford
Wed Oct 03, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: how difficult is Form 1116 (foreign tax credit)
Replies: 12
Views: 653

Re: how difficult is Form 1116 (foreign tax credit)

If you are taking the standard deduction and your qualified foreign dividends are less than 20k ... Yeah, standard deduction after tax "reform", since no mortgage interest or other biggies besides property tax. Foreign dividends greater than $20K ? I wish :-) If the holdings are all passive investm...
by RustyShackleford
Wed Oct 03, 2018 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: social considerations with gaming credit cards
Replies: 21
Views: 2595

Re: social considerations with gaming credit cards

I'm totally comfortable with getting one over on BofA; AMTRAK not so much. Why would you enjoy "putting one over" on Bank of America, but not AMTRAK? Because I think that banks, especially the huge ones, are evil; you may laugh, and I'm not going to get into a discussion about it (inappropriate her...
by RustyShackleford
Wed Oct 03, 2018 1:03 pm
Forum: Personal Consumer Issues
Topic: Humidity in basement
Replies: 65
Views: 4237

Re: Correlation between temperature, humidty and mold in crawl space?

I live in NC and have a crawl space, but no encapsulation. I use fans in hot weather to move air in crawl which helps with the problem. I too live in the humid south, but I've encapsulated my crawlspace. Previously I used fans to move air, with the vents open, and it exacerbated the problem. Suckin...
by RustyShackleford
Tue Oct 02, 2018 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: how difficult is Form 1116 (foreign tax credit)
Replies: 12
Views: 653

Re: how difficult is Form 1116 (foreign tax credit)

typical.investor wrote:
Tue Oct 02, 2018 11:11 pm
Can you really claim foreign taxes paid in tax sheltered accounts?
I don't think so. My point was that I'm increasing my foreign taxes in my taxable account.
by RustyShackleford
Tue Oct 02, 2018 11:04 pm
Forum: Personal Finance (Not Investing)
Topic: how difficult is Form 1116 (foreign tax credit)
Replies: 12
Views: 653

how difficult is Form 1116 (foreign tax credit)

I'm thinking of making an investment move, not a change in AA, just selling some foreign equity in my Roth and rebuying it in my after-tax brokerage account, in order to make room for some TIPS in the Roth (it being ill-advised to hold TIPS in an after-tax account, due to "phantom interest"). Unfort...
by RustyShackleford
Tue Oct 02, 2018 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: social considerations with gaming credit cards
Replies: 21
Views: 2595

social considerations with gaming credit cards

I've long enjoyed exploiting credit card issuers by getting cards in order to collect big bonuses, generally "points" of some kind, usually airline frequent-flyer miles (most especially Southwest, and earning the "companion certificate"). I really do feel like I'm getting one over on the credit card...
by RustyShackleford
Thu Aug 09, 2018 1:07 pm
Forum: Investing - Help with Personal Investments
Topic: keep cash in after-tax for bridge to Social Security ?
Replies: 38
Views: 3617

Re: keep cash in after-tax for bridge to Social Security ?

I have a CD ladder in taxable. As my CDs come due I'm using part of the money to fund the SS bridge. As I have extra cash I'm buying equities in taxable and selling equities (to buy bonds) in my tIRA (keeping my AA the same). The holy grail for me is to get all equities out of my tIRA (to Roth and ...
by RustyShackleford
Wed Aug 08, 2018 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: keep cash in after-tax for bridge to Social Security ?
Replies: 38
Views: 3617

Re: keep cash in after-tax for bridge to Social Security ?

Not sure what Leif meant, but that seems backwards. Five years into retirement at 68, I live off monthly pro rata withdrawals from my tax deferred (TIAA) account. I accumulate excess income some months in my smallish taxable account, all in VTSAX. Leif just responded with a nice summary of his appr...
by RustyShackleford
Tue Aug 07, 2018 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: keep cash in after-tax for bridge to Social Security ?
Replies: 38
Views: 3617

Re: keep cash in after-tax for bridge to Social Security ?

... or game the system by buying something that's similar enough but not "substantially identical". The is very common in TLH. You may sell TSM and buy S&P500 for example. What would bother me is moving more equities into my tax deferred. As I look to RMDs I want the higher expected return assets o...