Search found 746 matches

by donall
Mon Jun 18, 2018 3:49 pm
Forum: Personal Consumer Issues
Topic: wetlands permit for septic system replacement
Replies: 10
Views: 673

Re: wetlands permit for septic system replacement

A relative’s house needed a septic field just as they had to sell their house. The permit took much longer than anticipated.
by donall
Sat Jun 16, 2018 8:39 pm
Forum: Investing - Help with Personal Investments
Topic: Which way to save for my child?
Replies: 32
Views: 1798

Re: Which way to save for my child?

The UTMA/UGMA account does not automatically revert to the child when the child turns 18. As the custodian I had to initiate the transfer. Since the account held stocks, I had to get a medallion guarantee.
by donall
Sat Jun 16, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Take a job with a company being acquired?
Replies: 12
Views: 972

Re: Take a job with a company being acquired?

Loyalties to an employee is from the person that hired them. Unless company A or a person from company A hired you, stick with your present job. Your friend is from company B. If there is a position after the merger, then investigate.
by donall
Sat Jun 16, 2018 6:35 pm
Forum: Personal Consumer Issues
Topic: Contractor - Threatening Lien/Lawsuit
Replies: 43
Views: 3427

Re: Contractor - Threatening Lien/Lawsuit

In our state, one can file a complaint with the attorney general. This does not cost anything and may stop his harassing behavior. This can help others who may call this person for services in the future, that is until he changes the name of his company. I would monitor my bank account closely as no...
by donall
Thu Jun 14, 2018 6:56 pm
Forum: Personal Consumer Issues
Topic: cooling upstairs floor without central AC
Replies: 19
Views: 1235

Re: cooling upstairs floor without central AC

For the fans to work effectively they must be set into the windows with nonfan areas blocked off. What you describe doesn’t function. Have you considered installing an attic fan that can exhaust entire house by leaving one window open?
by donall
Sun Jun 10, 2018 7:15 am
Forum: Investing - Help with Personal Investments
Topic: Investing some of mom's money,
Replies: 31
Views: 1997

Re: Investing some of mom's money,

You mother wants your involvement. The best thing you can do is get all assets summarized (look at past years tax forms) in a spreadsheet along with a monthly income. I can tell you from experience that this step relieves a lot of stress and will strengthen your relationship. This may also be the ti...
by donall
Mon Jun 04, 2018 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on Completing Quit Claim Deed
Replies: 6
Views: 704

Re: Advice on Completing Quit Claim Deed

How is the property titiled? You are aware that you and your daughters will have the same house basis as when your father bought the house?
by donall
Wed May 30, 2018 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Is FBAR filing complicated?
Replies: 23
Views: 1624

Re: Is FBAR filing complicated?

It is easy to report on foreign accounts online.
by donall
Wed May 30, 2018 3:12 pm
Forum: Personal Consumer Issues
Topic: My mind exploded
Replies: 79
Views: 4549

Re: My mind exploded

Unless she has a closet full of footwear, buying a pair of sandals in spring seems pretty normal. Didn’t you pay for a pair of sandals for your daughter last year or the year before?
by donall
Mon May 28, 2018 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for Mom's LTC policy renewal
Replies: 9
Views: 781

Re: Advice for Mom's LTC policy renewal

Although Penn Treaty is in receivership, relative’s bills were paid and employees were professional. So I would continue paying the increased premium.
by donall
Sun May 27, 2018 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 152
Views: 12401

Re: Helping Adult Children (but not too much)

Two additional points to make: 1) In many cases where both the parents are involved: both parents need to realize the significance of such cases...in many cases, one of the parents maybe too lenient/soft and that's a problem in arriving at the right stance towards a "problem adult child". 2) The ea...
by donall
Sat May 26, 2018 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Should parents renew life insurance?
Replies: 8
Views: 620

Re: Should parents renew life insurance?

Yes, I think your dad should renew or get a quote for life insurance up to at least the selling price of the practice. Hopefully he also has a good disability policy. What would happen to the business if your dad passed away? If it took six months to sell the practice, “good will” would be substanti...
by donall
Fri May 25, 2018 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Does IRS penalize for overpayment of taxes?
Replies: 19
Views: 2025

Re: Does IRS penalize for overpayment of taxes?

If you received your income unevenly you can use the annualized income installment method, Form 2210. For example if most of your income was in the last quarter, then you would probably not have a penalty if you paid most of your taxes in January. Your accountant should be familiar with this form.
by donall
Fri May 25, 2018 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: medicaid as early retirement medical insurance (or maybe Obamacare)
Replies: 41
Views: 3763

Re: medicaid as early retirement medical insurance (or maybe Obamacare)

Lawman: pretty sure Warren Buffett would not be able to get a health insurance subsidy as income is determined by a modified MAGI that includes social security and tax-free bonds.

Though if someone only had Roth IRAs then there would be no income and theoretically one could be on Medicaid.
by donall
Wed May 23, 2018 6:44 pm
Forum: Personal Consumer Issues
Topic: Should I spend $1,500 on getting some rust repaired on a 15 year old Buick
Replies: 36
Views: 2609

Re: Should I spend $1,500 on getting some rust repaired on a 15 year old Buick

DS inherited a 2002 Toyota with 70,000 miles. Good running condition but wheel rims kissed the curb many times and body had imprints of mailbox. Luckily no money was spent on the car, as neighbors backed into car leaving a cavity on the driver’s side. Still runs like a charm.
by donall
Tue May 22, 2018 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Difficulty with Parents-In-Law
Replies: 25
Views: 1491

Re: Difficulty with Parents-In-Law

Back off! Father in law showed you his investments so you would say what a great investor he was. You communicated the opposite. With mother in law’s gift of insurance, you want to cash it in and negating a gift of twenty something years. Note that these two raised a wonderful daughter that you marr...
by donall
Tue May 22, 2018 9:16 am
Forum: Personal Consumer Issues
Topic: How have you upgraded your wardrobe?
Replies: 104
Views: 5999

Re: How have you upgraded your wardrobe?

In our neighborhood, the shabbier the clothes, the richer the guy. Oh course this is only for the retired group.
by donall
Sun May 20, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Finance a $28,000 house for Brother?
Replies: 73
Views: 5394

Re: Finance a $28,000 house for Brother?

I would not hesitate to do this for family and would work with brother to make it happen. I always helped my sister when asked. She is a risk taker while I am a plodder, so I was able to assist her when things did not turn out as planned.
by donall
Sat May 19, 2018 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 152
Views: 12401

Re: Helping Adult Children (but not too much)

Fund her Roth IRAs the first few years. She has an emergency fund, down payment for a house, retirement, etc. Contributions to IRAs are most beneficial when one is in their 20s.
by donall
Sat May 19, 2018 9:08 am
Forum: Personal Consumer Issues
Topic: Hardwood around the perimeter but plywood under the rug
Replies: 12
Views: 1262

Re: Hardwood around the perimeter but plywood under the rug

This border treatment is very common in Victorian homes in small towns. Victorians also used pine floors in rooms that were planned for wall to wall rug treatment. You may also want to look closely at any stained woodwork, as it may be grained to resemble oak.
by donall
Fri May 18, 2018 7:59 pm
Forum: Personal Consumer Issues
Topic: Neighbor wants to use our land temporarily - let them or not?
Replies: 48
Views: 6224

Re: Neighbor wants to use our land temporarily - let them or not?

I would not allow someone to use my empty lot for construction staging. This is not a good neighbor, as they did not ask permission before using your land. If I had this situation, I would let them know that because of insurance reasons they are cannot use your lot. I once came home and found four p...
by donall
Fri May 18, 2018 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Home Loan from Parents
Replies: 24
Views: 2292

Re: Home Loan from Parents

This can work. This worked with three kids. Same loan rate as bank but (except for filing fee at county and drawing up contract) without closing fees. Auto deduct works like a charm.
by donall
Thu May 17, 2018 10:18 pm
Forum: Personal Consumer Issues
Topic: Should I have my new garage floor coated with Epoxy?
Replies: 23
Views: 3142

Re: Should I have my new garage floor coated with Epoxy?

Make sure you allow the concrete to cure before applying the floor coating.
by donall
Mon May 07, 2018 11:27 am
Forum: Investing - Help with Personal Investments
Topic: DRIP (Dividend Reinvestment Plan)
Replies: 21
Views: 1823

Re: DRIP (Dividend Reinvestment Plan)

SO was gifted DRIPS and did well with them. So we did the same. But during the last decade we were primarily in index funds with just a few holdover DRIPS. The DRIPS are cumbersome as the DRIPS may have separate accounts. Be aware that some DRIPS have high expenses,especially if the individual stock...
by donall
Thu May 03, 2018 9:52 am
Forum: Investing - Help with Personal Investments
Topic: Inheritance is getting complicated
Replies: 32
Views: 5191

Re: Inheritance is getting complicated

Permit me to lay out my (small) inheritance situation to see if anyone can clarify my options: Hoping to retire early at age 60 in less than 4 years. Want this to help that goal as much as possible. I do not know whether I will be in a higher tax bracket when I retire – my husband is 14 years older...
by donall
Thu May 03, 2018 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Capital gains in a trust
Replies: 8
Views: 710

Re: Capital gains in a trust

EIC is only available with earned income, trust income is not earned income. There is also a limit on the amount of dividends and interest with EIC. Taxes at individual level are less than at trust level, so best to have trust income flow through individual. Capital gains and dividend tax rate are 0...
by donall
Thu May 03, 2018 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Capital gains in a trust
Replies: 8
Views: 710

Re: Capital gains in a trust

EIC is only available with earned income, trust income is not earned income. There is also a limit on the amount of dividends and interest with EIC. Taxes at individual level are less than at trust level, so best to have trust income flow through individual. Capital gains and dividend tax rate are 0...
by donall
Tue May 01, 2018 1:48 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for problem firm holding my inherited funds
Replies: 21
Views: 1453

Re: Advice for problem firm holding my inherited funds

I remember being asked these questions when I opened a new brockerage account a long while ago. I was counseled to indicate that I had very little investing experience. I don’t remember the exact reason but somehow it would be better if there were problems with the account, as there would be more ov...
by donall
Thu Apr 26, 2018 11:51 am
Forum: Personal Consumer Issues
Topic: Building/House Plans
Replies: 26
Views: 1696

Re: Building/House Plans

Absolutely hire an architect familiar with your lot and housing type. An architect is worth every penny and may have insights into respected contractors. The suggestions you have received are excellent, especially recommendations for future expansion that cost a small amount now. I would also add th...
by donall
Fri Apr 06, 2018 5:07 pm
Forum: Investing - Help with Personal Investments
Topic: Treasury Direct is a waste of time
Replies: 80
Views: 19859

Re: Treasury Direct is a waste of time

What is transact authority with Treasury Direct? How do you get this authortty for someone?
by donall
Fri Apr 06, 2018 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: help! I want to treat heirs equally
Replies: 38
Views: 5469

Re: help! I want to treat heirs equally

Even up as much as you can before death. I would let the future beneficiaries know that the gift is to equalize. After death make it equal.
by donall
Mon Mar 19, 2018 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question on EE bonds
Replies: 3
Views: 448

Re: Tax question on EE bonds

If paper bonds, who signed the bonds and wrote their social security number on the back?
If in Treasury Direct or bricksrage account, whose social security number is on the account?
by donall
Sun Mar 18, 2018 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating Price on a new build condo
Replies: 9
Views: 1002

Re: Negotiating Price on a new build condo

Developers almost never decrease the price. Their bank proforma depends on a certain selling price. In addition, a lower selling price can affect future sale prices. You can definitely negotiate for upgrades. Of course it never hurts to try to negotiate on price.
by donall
Fri Mar 16, 2018 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: How does everyone here earn so much?
Replies: 131
Views: 7461

Re: How does everyone here earn so much?

Markersquire, you are young. If you read this forum and you are in your 20s you will do fine no matter how much or little you make.
by donall
Fri Mar 16, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Check, deceased payee
Replies: 15
Views: 1548

Re: Check, deceased payee

If none of those work, just fill out a small estate affidavit, if you do not have one already. Worked for me when there was a surprise check from a class action lawsuit. In my case downloaded form, filled out, and got notary stamp. Used the affidavit to get check and also to deposit. For privacy rea...
by donall
Wed Mar 14, 2018 6:45 pm
Forum: Investing - Help with Personal Investments
Topic: simplifying my financial life -- should i get rid of treasury direct?
Replies: 47
Views: 4628

Re: simplifying my financial life -- should i get rid of treasury direct?

I just redeemed a small amount of inherited paper bonds. Could not have been easier and is one of the reasons we still use a brick and mortar bank. I also transferred bonds that I inherited. It seemed cumbersome, but went smoothly with two phone calls and emails. The website takes a bit getting used...
by donall
Tue Feb 27, 2018 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: Buying pension credit: Should I use pre or post tax dollars?
Replies: 20
Views: 1434

Re: Buying pension credit: Should I use pre or post tax dollars?

I’ve done both. I would definitely go pretax unless the value in your retirement plan was down such as in 2009 or 2010.
by donall
Sun Feb 25, 2018 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Bequeathing shares in an LLC to multiple people
Replies: 2
Views: 229

Re: Bequeathing shares in an LLC to multiple people

I think a lot of your questions can be answered by looking at the LLC documents. The LLC documents often outline actions for situations such as death of a shareholder. It is good you are looking into this now. Some additional thoughts: Is the LLC earning any money from the property? Why is your home...
by donall
Thu Feb 22, 2018 2:21 am
Forum: Personal Consumer Issues
Topic: Cedar Roof
Replies: 27
Views: 1815

Re: Cedar Roof

In addition to knowing if the roof has shakes or shingles, what is the angle of the roof? Steep roofs often last longer than shallow slopes.
by donall
Mon Feb 19, 2018 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: What has been your most important skill in achieving financial independence?
Replies: 164
Views: 11925

Re: What has been your most important skill in achieving financial independence?

I really hate shopping and married a spouse who really, really hates shopping.
by donall
Mon Feb 19, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning RLT vs. Testamentary (Texas)
Replies: 13
Views: 860

Re: Estate Planning RLT vs. Testamentary (Texas)

As a reustee/executor this past year, my advice is to use two separate RLTs. The RLTs can be identical and both should have a guardian, financial trustee, and instructions for the child and when the funds are inherited (just remember that after death the RLT becomes irrevocable). No need for a separ...
by donall
Sun Feb 11, 2018 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Great 403b for teachers?
Replies: 131
Views: 19697

Re: Great 403b for teachers?

Does the American Federation of Teachers have a similar program?
by donall
Fri Feb 09, 2018 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: [How to recover payment sent to closed account]
Replies: 5
Views: 427

Re: [How to recover payment sent to closed account]

I did this once with a utility co and after a phone call they redirected the payment to the correct account. Banks may have a longer procedure.
by donall
Fri Feb 09, 2018 8:16 pm
Forum: Investing - Help with Personal Investments
Topic: savings bonds as gifts? thru Treasury Direct
Replies: 4
Views: 454

Re: savings bonds as gifts? thru Treasury Direct

I gifted Ibonds quite a few years ago. You will need the account number of the person you want to gift to. It is an easy process where you buy the bonds as a gift and transfer the bonds to the giftee. I don't remember if you need the social security number of giftee. The first time the giftee needs ...
by donall
Wed Feb 07, 2018 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate Transaction Question........
Replies: 2
Views: 314

Re: REAL ESTATE TRANSACTION QUESTION........

I would keep the buyer and tenant relationship separate. If buyer wants to rent, then fine. But do not throw out the tenant that you have, as the purchase deal may not go through. Maybe I am not reading this correctly, but it seems that you would miss out on a couple of months rent if you went along...
by donall
Wed Feb 07, 2018 5:20 pm
Forum: Investing - Help with Personal Investments
Topic: Newly widowed mother-in-law asset allocation
Replies: 17
Views: 1354

Re: Newly widowed mother-in-law asset allocation

First, I'm sorry to hear about your father-in-law. This is a rough time and I hope that all of you will be gentle on yourselves. I'll let others weigh in on the asset allocation part of your question but I do have some thoughts/recommendations. I'm a young-ish widow who has benefited greatly from t...
by donall
Sun Feb 04, 2018 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Volunteer consulting — need LLC or something else?
Replies: 8
Views: 574

Re: Volunteer consulting — need LLC or something else?

Many non, not for profit, and government agencies carry volunteer insurance. Coverage may vary from physical premises liability and medical costs to actions of volunteers. Would spouse be considered a volunteer with organization where she is training?
by donall
Sun Jan 28, 2018 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Transfer money to family members to take advantage of lower tax rates
Replies: 35
Views: 3704

Re: Transfer money to family members to take advantage of lower tax rates

Hah, did this with small amount of the individual stocks that we owned. Worked well with 3 stocks, but last stock went down in value. With gifted stocks, loss is limited, so would have been better to keep that stock.
by donall
Tue Jan 23, 2018 10:21 am
Forum: Investing - Help with Personal Investments
Topic: Should I buy a business or suck it up at a job(s) with a pension.
Replies: 82
Views: 6353

Re: Should I buy a business or suck it up at a job(s) with a pension.

Run from the car wash idea. Do whatever it takes to remain in your jobs. If you need to do an investment activity just buy a rental. The rental should give you a small dose of managing a car wash.