Search found 214 matches

by vtjon
Wed Aug 28, 2019 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Taxes - Accounting Ethics for Sharing Client Information
Replies: 10
Views: 794

Re: Taxes - Accounting Ethics for Sharing Client Information

I'm not sure what is standard but I regularly exchange files with my accountant via email. PDFs or ZIP files are secured with a password. I don't have any particular concerns with this because if you can get access to my email account(s), you have access to a lot more information than what is contai...
by vtjon
Fri Aug 16, 2019 1:41 pm
Forum: Personal Consumer Issues
Topic: Kindergarten lunches
Replies: 59
Views: 4830

Re: Kindergarten lunches

I cant believe people are saying Peanut butter, I thought all schools including day cares have banned it. I think it is a little extreme banning it, but I know most schools have. No, in my area peanut butter is not banned by public schools, but kids that eat brown bag lunches are sequestered to a s...
by vtjon
Fri Jul 26, 2019 12:18 pm
Forum: Personal Investments
Topic: Should I pay off my mortgage?
Replies: 34
Views: 2511

Re: Should I pay off my mortgage?

Is your ARM a Penfed 5/5 ARM? It seems like it is based on the rate. I have a Penfed 5/5 ARM that is due to reset on Sept 1. In early July, I got an email about a rate reset offer. These were common in previous years but apparently Penfed had stopped offering them due to the volatility of rates. Any...
by vtjon
Wed Jul 17, 2019 8:22 am
Forum: Personal Consumer Issues
Topic: Owners of RECENT Speed Queen washers ONLY
Replies: 13
Views: 2277

Re: Owners of RECENT Speed Queen washers ONLY

I bought a TR5/DR5 top-load washer/dryer about two weeks ago and everything has gone well so far. At least, I think it's a TR5 because it came with a 5 yr warranty. Where are the details on this extra warranty offer?
by vtjon
Fri Jul 05, 2019 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Refi at this rate?
Replies: 31
Views: 3282

Re: Refi at this rate?

I noticed that the Penfed 5/5 ARM Jumbo is 3.375% though the closing costs might not make it a great deal. I'm not sure if they do the closing costs promos any longer.
by vtjon
Tue May 14, 2019 9:59 am
Forum: Personal Consumer Issues
Topic: For Glasses - How to Get Accurate Eye Measurements
Replies: 10
Views: 1464

Re: For Glasses - How to Get Accurate Eye Measurements

I just used this tool in order to purchase some online glasses. https://www.opticontacts.com/pd-tool.html I wear contacts primarily so these are just backup. I haven't received them yet and they aren't transition lens so I'm unsure how accurate it will be. The number was close to what I used many ye...
by vtjon
Sat May 11, 2019 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: how to make sure money in 529 helps divorced brother and not ex-wife?
Replies: 13
Views: 2409

Re: how to make sure money in 529 helps divorced brother and not ex-wife?

There might some misunderstanding here. With a 529 plan, you have an account owner and beneficiary (the student), at least with the ones I've setup. There is a contingent owner on mine but that only matters if I pass away. The parents don't necessarily play into this. I have (or had in some cases) 5...
by vtjon
Tue Apr 30, 2019 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage with Spouse or Separate?
Replies: 41
Views: 2587

Re: Mortgage with Spouse or Separate?

My spouse and I plan on purchasing our first house in the coming year. I've always just assumed that both of us would take out the mortgage, but now that I'm thinking about it further and reading on Bogleheads, I'm starting to question whether it might be better for just one of us to be on the mort...
by vtjon
Mon Apr 22, 2019 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Professional Liability Insurance - Consulting Business
Replies: 11
Views: 777

Re: Professional Liability Insurance - Consulting Business

I am in the IT consulting area and writing code plus other bespoke type of work. The premiums are based on revenue. I'm not sure how this works out for new businesses though. I'm an S-Corp. My E&O insurance is about $1400/year at a $2,500 deductible for $1m in coverage. As you might expect, I've nev...
by vtjon
Sun Apr 14, 2019 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Minor received 1099-MISC for Internship
Replies: 27
Views: 1798

Re: Minor received 1099-MISC for Internship

And this: https://www.quicken.com/what-stipend To receive a stipend, the job must focus on training rather than employment, says the University of Washington. The training must be predominantly for the benefit of the student, not the employer, and the student can't be entitled to a job at the end o...
by vtjon
Sun Apr 14, 2019 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Minor received 1099-MISC for Internship
Replies: 27
Views: 1798

Re: Minor received 1099-MISC for Internship

And this: https://www.quicken.com/what-stipend To receive a stipend, the job must focus on training rather than employment, says the University of Washington. The training must be predominantly for the benefit of the student, not the employer, and the student can't be entitled to a job at the end o...
by vtjon
Sun Apr 14, 2019 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Minor received 1099-MISC for Internship
Replies: 27
Views: 1798

Re: Minor received 1099-MISC for Internship

If they come back that SE should be due, she'll have to pay penalties and interest in addition to the taxes. Is that the experience you're hoping your niece will have? Sure, if that's what it takes because it would then be a case of misclassificaiton by the employer that she was an indepdent contra...
by vtjon
Sun Apr 14, 2019 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Minor received 1099-MISC for Internship
Replies: 27
Views: 1798

Re: Minor received 1099-MISC for Internship

Perhaps this note on the turbotax website will help: 1099-MISC for a stipend payment - where do I put it? Yes, this is what I'm thinking about following. I'm going to work through it TurboTax and see what happens. At least this will prevent any mismatches. That might work is the stipend she receive...
by vtjon
Sun Apr 14, 2019 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Minor received 1099-MISC for Internship
Replies: 27
Views: 1798

Re: Minor received 1099-MISC for Internship

mrc wrote:
Sun Apr 14, 2019 1:39 pm
Perhaps this note on the turbotax website will help: 1099-MISC for a stipend payment - where do I put it?
Yes, this is what I'm thinking about following. I'm going to work through it TurboTax and see what happens. At least this will prevent any mismatches.
by vtjon
Sun Apr 14, 2019 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Minor received 1099-MISC for Internship
Replies: 27
Views: 1798

Re: Minor received 1099-MISC for Internship

We might have to agree to disagree. I see on the original "internship contract", it was termed a stipend which is probably a more accurate representation of it. I found some Turbo Tax guidance on how to handle this situation with a stipend. I'll have to review it.
by vtjon
Sun Apr 14, 2019 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Minor received 1099-MISC for Internship
Replies: 27
Views: 1798

Re: Minor received 1099-MISC for Internship

This was not earned income as she did not "intend to earn a profit" and was for primarily education. Once it was classified as this, Turbo Tax included it as Other Income on the 1040. I do not intend to report it as Schedule C. If the IRS wishes to audit, we would definitely entertain that and they ...
by vtjon
Sun Apr 14, 2019 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Minor received 1099-MISC for Internship
Replies: 27
Views: 1798

Minor received 1099-MISC for Internship

There are several posts around this topic but I'm not sure the best route with the 2018 tax law changes. I am helping my 17 yr old niece prepare her tax return. In 2018, she received approximately $1,300 in W-2 income with $20 withheld and a 1099-MISC for $1,250 in Box 7. The 1099-MISC was for an in...
by vtjon
Fri Mar 15, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Tax refund if taxes withheld but no return filed (under threshold)?
Replies: 8
Views: 544

Re: Tax refund if taxes withheld but no return filed (under threshold)?

I helped my niece file a return to get her $22 back on a $1500ish of earnings. I just used the free online TurboTax Freedom Edition (make sure to google and go in through the Freedom Edition link). It was super quick.
by vtjon
Wed Mar 06, 2019 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Virginia tax and pass through QBI deduction
Replies: 3
Views: 450

Re: Virginia tax and pass through QBI deduction

I am in Virginia and have an S-Corp. I won't file my returns for many months though I am interested in this issue. It is my understanding that VA conforms to federal tax law but the general assembly has to vote on it each year. They just passed the 2018 conformity in early February. Here is the bull...
by vtjon
Thu Feb 28, 2019 3:51 pm
Forum: Personal Consumer Issues
Topic: Recommendations for a 15-inch business laptop with centered keyboard
Replies: 7
Views: 929

Re: Recommendations for a 15-inch business laptop with centered keyboard

I think the Dell XPS 15 (without the 4K screen) meets your requirements. I use one (9550). I think there is a newer 9560 model. You're looking for a matte screen.
by vtjon
Fri Feb 22, 2019 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Sale of condo/parking spot property 1099-S
Replies: 3
Views: 328

Re: Sale of condo/parking spot property 1099-S

I'd find the property tax assessment (at the time of purchase) of each piece and calculate the percentage. Then apply that percentage to your purchase amount. For instance: Condo Assessment - $100K Parking Space 1 - $50K Parking Space 2 - $50K Total Assessment: $200K Total Purchase Price: $500K Park...
by vtjon
Mon Feb 11, 2019 10:57 am
Forum: Personal Finance (Not Investing)
Topic: When is a car "totalled" if not at fault?
Replies: 26
Views: 2206

Re: When is a car "totalled" if not at fault?

Before you accept their payment, make sure to look around locally to ensure that you can find a similar vehicle to yours (similar mileage, make, model, condition, etc). If you can't, you should go back to them for a higher offer. The idea of the insurance is to make you "whole" again.
by vtjon
Thu Feb 07, 2019 1:25 pm
Forum: Personal Consumer Issues
Topic: Laptops - swapping hard drives
Replies: 18
Views: 827

Re: Laptops - swapping hard drives

I just replaced a dead hard drive on my father-in-law's laptop. He had Windows 10 Home installed previously. It was very straightforward. I replaced the hard drive with an SSD drive that I pulled from another laptop when upgrading. I created a Windows 10 bootable USB drive (will need a 8GB+, I think...
by vtjon
Fri Jan 25, 2019 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Sec 199A business tax deduction
Replies: 46
Views: 3256

Re: Sec 199A business tax deduction

The Excel 1040 worksheet supports this at the moment. I'm unsure how accurate it is though I expect it's pretty good especially if you're under the $315K cut-off. I am an S-Corp so I'm not sure how well it works for a Sch C.
https://sites.google.com/site/excel1040/
by vtjon
Wed Jan 23, 2019 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Buy Land, then build house... or Construction to Permanent?
Replies: 23
Views: 2187

Re: Buy Land, then build house... or Construction to Permanent?

When we built, I bought the land for cash about 6 months before we started to build. I did not do a construction-to-perm loan. My builder had a line of credit with a local bank that financed their builds. I allowed that bank to take a lien against the land during the building process. When the build...
by vtjon
Fri Jan 11, 2019 8:35 am
Forum: Personal Consumer Issues
Topic: United, American Airlines, Delta--about the same?
Replies: 144
Views: 8648

Re: United, American Airlines, Delta--about the same?

I'm not aware of a single credit card which meets your criteria. It would take three, all of which have fees (though some may give the first year free). You would be looking at AA and Delta cards, plus something like Chase Sapphire Reserve or a high-end Amex card. I don't think you need three, just...
by vtjon
Thu Jan 10, 2019 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: How to sign business tax form (1096) if out of the country?
Replies: 14
Views: 614

Re: How to sign business tax form (1096) if out of the country?

I think you can just use a 1099 filing service and not have to do anything on paper. I have sent out 1099 electronically the last few years using tax1099.com. I haven't filed any paper forms related to this.
by vtjon
Thu Jan 10, 2019 2:44 pm
Forum: Personal Consumer Issues
Topic: United, American Airlines, Delta--about the same?
Replies: 144
Views: 8648

Re: United, American Airlines, Delta--about the same?

I contemplated starting a new thread about this and a moderator can let me know if that's still best. I fly out of a small regional airport several times a year, mainly for pleasure, though once or twice a year for business. I don't have status with any airlines and normally fly with whoever has the...
by vtjon
Tue Dec 18, 2018 1:40 pm
Forum: Personal Consumer Issues
Topic: Confused by cruise gratuities
Replies: 51
Views: 4388

Re: Confused by cruise gratuities

I just booked a last minute cruise that leaves in a couple of weeks. It has been many years since I've been on a cruise so I was researching the gratuities situation. It seems the prepaid gratuities are mainly so people can "budget" their cruise. A lot of people seem to book a cruise 10+ months out ...
by vtjon
Wed Dec 12, 2018 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Received IRS letter - be proactive or sit back?
Replies: 25
Views: 3137

Re: Received IRS letter - be proactive or sit back?

Reading through Form 8332 can be helpful just so you know how it all works. Basically the non-custodial parent (as defined by IRS) can't just claim the exemption. In addition, for all divorces post-2009 (I think), the IRS doesn't particularly care what the divorce decree/custody agreement says. http...
by vtjon
Mon Nov 19, 2018 9:22 am
Forum: Personal Consumer Issues
Topic: WHole House Gas Backup Generator
Replies: 5
Views: 866

Re: WHole House Gas Backup Generator

I have a Generac that is about 4 years old. I didn't really do the initial service as I should have because I never got to 25 hours of use as advised by the manual. We had an outage a month or so ago and it would not work despite all of the weekly tests working. A mouse had chewed through one of the...
by vtjon
Sat Nov 10, 2018 10:21 am
Forum: Personal Consumer Issues
Topic: How to stop junk mail for a deceased person
Replies: 61
Views: 7693

Re: How to stop junk mail for a deceased person

Not overly pertinent, but more a story of big data gone arwy. My mom died 30 years ago when I was a kid. When she would have been approaching Medicare age, I started to get Medicare (not government) junk mail for her at my house that only had been built a couple of years and is 100 miles from city w...
by vtjon
Fri Nov 09, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage with or without spouse?
Replies: 26
Views: 2086

Re: Mortgage with or without spouse?

If you should die unexpectedly she will not be to on the mortgage and that will be an issue. Make certain you have enough Life insurance to pay off the mortgage entirely plus whatever additional amount is needed to help assist her through your loss. You need to do that in either case quite honestly...
by vtjon
Mon Oct 29, 2018 10:16 am
Forum: Personal Consumer Issues
Topic: Additional charges for kids in Las Vegas hotels
Replies: 25
Views: 2874

Re: Additional charges for kids in Las Vegas hotels

We've done Airbnb the last few times with our kids in Las Vegas. It's been great especially during the summer months.
by vtjon
Sun Oct 28, 2018 9:21 am
Forum: Personal Investments
Topic: Fidelity Investor Center vs Online
Replies: 10
Views: 786

Re: Fidelity Investor Center vs Online

We ended up just doing it all online. For the CMA account, there was nothing that required printing since the relative could verify their identity online. For the transfer, there will be some printed/signed paperwork but they have it under control. They recently purchased a laptop instead of using a...
by vtjon
Sat Oct 27, 2018 8:04 pm
Forum: Personal Consumer Issues
Topic: What is a reasonable housecleaning cost?
Replies: 27
Views: 2696

Re: What is a reasonable housecleaning cost?

I will concur on the drop off in quality. In my case, not as much by the owner but some of the crew. A few of her crew has been with her for several years but they do worse when she's not with them. We've learned to live with it since it's still helpful and convenient. I would check your friend grou...
by vtjon
Sat Oct 27, 2018 10:05 am
Forum: Personal Consumer Issues
Topic: What is a reasonable housecleaning cost?
Replies: 27
Views: 2696

Re: What is a reasonable housecleaning cost?

We are in a similar situation though with only 2 kids. It takes a long time to find somebody you trust. We have a lady that has a crew of her plus 2-3 folks. It takes them about 90 minutes to clean our 3500 sq ft house (4 bathrooms) for about $100. It works out to be about $20 per person-hour. I'm i...
by vtjon
Thu Oct 25, 2018 7:32 am
Forum: Personal Investments
Topic: Fidelity Investor Center vs Online
Replies: 10
Views: 786

Re: Fidelity Investor Center vs Online

This is a little more complicated. There is an inherited IRA that is somewhat complicated and the relative does not have a super easy way to make copies and/or print things.
by vtjon
Thu Oct 25, 2018 7:09 am
Forum: Personal Investments
Topic: Fidelity Investor Center vs Online
Replies: 10
Views: 786

Fidelity Investor Center vs Online

I am helping a relative setup a new Fidelity account for some inherited funds. It might be easier for them to go to a Fidelity Investor Center that is 45 minutes away instead of trying to do it online and mailing in paperwork. The relative will manage the account online himself though with my guidan...
by vtjon
Fri Oct 19, 2018 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 7463

Re: Depositing Cash if it was gifted?

There's a difference between a CTR (Currency Transaction Report) and a SAR (Suspicious Activity Report). Neither of these go to the IRS as far as I know. A CTR is filed anytime there is more than $10K in cash transacted. I'd bet nearly every medium to large car dealer in the country generates multip...
by vtjon
Thu Oct 18, 2018 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Down payment into Ally 1% offer, how will it affect mortgage applications?
Replies: 11
Views: 1162

Re: Down payment into Ally 1% offer, how will it affect mortgage applications?

My wife and I always apply for individual credit, including mortgages. It will be simpler if you do not need to involve any of her accounts where you aren't a joint owner. One important thing that I have learned though is that you don't have to disclose ALL of your assets. You only need to disclose ...
by vtjon
Mon Oct 01, 2018 7:10 pm
Forum: Personal Consumer Issues
Topic: Car rebates/incentives
Replies: 21
Views: 1502

Re: Car rebates/incentives

I'm not sure if anybody can answer this but I have a question about incentives. The current incentives (which expires today) are "10% below msrp" when you finance through GM financial and $1250 consumer cashl. I wonder if can be treated like manufacturer cash as far as the dealer is concerned. On a ...
by vtjon
Mon Oct 01, 2018 9:36 am
Forum: Personal Consumer Issues
Topic: Car rebates/incentives
Replies: 21
Views: 1502

Re: Car rebates/incentives

Timely thread. I'm working to buy a Tahoe, maybe this week. I was going to go used but I am considering a new 2018 since the prices are closed to a 2017/2018 used. I haven't been following the incentives too closely though. There seems to be a fair number of 2018s within 100 miles of me.
by vtjon
Sat Sep 15, 2018 4:25 pm
Forum: US Chapters
Topic: Any interest in Roanoke, VA Valley BogleHeads chapter?
Replies: 9
Views: 1708

Re: Ay interest in Roanoke, VA Valley BogleHeads chapter?

I'm in Blacksburg! I'm not sure what kinds of things are typically covered in these meetings. Ideas?
by vtjon
Tue Aug 28, 2018 8:47 am
Forum: Personal Finance (Not Investing)
Topic: ARM Mortgage resetting - what would you do?
Replies: 19
Views: 1421

Re: ARM Mortgage resetting - what would you do?

charlieg1 wrote:
Tue Aug 28, 2018 8:44 am
Also, the 5/5 can only jump 2% on any given reset, so your max rate for this reset is 4.875%.
You are exactly right! No notice yet on my account but I'm just barely 11 months out.
by vtjon
Tue Aug 28, 2018 8:39 am
Forum: Personal Finance (Not Investing)
Topic: ARM Mortgage resetting - what would you do?
Replies: 19
Views: 1421

Re: ARM Mortgage resetting - what would you do?

I am in a similar situation with Penfed in that I have a 5/5 ARM resetting in July 2019 for about $300K. When and how did you get your reset offer? I haven't received it yet and I just wondered when I might. I have been paying mine against a 15-year amortization and my original calculation against 3...
by vtjon
Mon Aug 27, 2018 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Wills and children
Replies: 25
Views: 3073

Re: Wills and children

We have our wills written so that the suggested guardian is a trustee plus we require a corporate co-trustee. We did not feel confident that our guardian could manage the significant size of the trust (after life insurance) alone. Both of my kids are very young.
by vtjon
Fri Aug 24, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Umbrella insurance - again
Replies: 49
Views: 4760

Re: Umbrella insurance - again

I pay $155 for $1M in VA.
by vtjon
Wed Aug 22, 2018 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance - does this seem reasonable? (Added another ? about company)
Replies: 19
Views: 1028

Re: Life Insurance - does this seem reasonable? (Added another ? about company)

I bought a $1m 30-year policy at age 32. I pay about $3200 a year. I don't have any pre-existing health conditions though my weight put me into a different class. I also think family history might have some impact as one parent died before age 40 and the other had heart issues in his 50s. My weight ...
by vtjon
Thu Aug 16, 2018 10:43 am
Forum: Personal Consumer Issues
Topic: Sign - Speed checked by Radar
Replies: 41
Views: 3599

Re: Sign - Speed checked by Radar

I like the ones that say "enforced by aircraft". I've always wondered how the aircraft plans to stop a speeding vehicle, rather than simply monitor it? yeah, I'm 99% sure those are BS This was a real thing in VA which is why the signs were put up. It was a program in the early 00s where the state t...