Search found 178 matches

by cals400ex
Thu Dec 06, 2018 12:33 am
Forum: Investing - Help with Personal Investments
Topic: solo 401k / simple ira / backdoor roth ira options
Replies: 4
Views: 484

Re: solo 401k / simple ira / backdoor roth ira options

Would it be easier if I see if I can opt out of the non-elective employer contributions? I’m not sure if this is legal? But, if I can, I can just open a solo 401k and continue with the backdoor Roth IRA. On a side note, he said the simple Ira would be a 3% non elective employer contribution, just li...
by cals400ex
Wed Dec 05, 2018 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: solo 401k / simple ira / backdoor roth ira options
Replies: 4
Views: 484

solo 401k / simple ira / backdoor roth ira options

Hello, I currently have a 401k at my W-9 job, and I just received news that they will be changing to a simple IRA. I also have a 1099 job. I generally do a backdoor roth IRA each year and max out my 401K. I have several questions with my options: 1. Setup a solo 401k for my 1099 job (I'm the only wo...
by cals400ex
Thu Nov 15, 2018 7:29 pm
Forum: Investing - Help with Personal Investments
Topic: best method for selling stocks/funds in taxable acct.
Replies: 4
Views: 553

Re: best method for selling stocks/funds in taxable acct.

I've been in the 28% tax bracket in previous years. This year, with the new brackets, I'll be in the 24%.
by cals400ex
Thu Nov 15, 2018 6:11 pm
Forum: Investing - Help with Personal Investments
Topic: best method for selling stocks/funds in taxable acct.
Replies: 4
Views: 553

best method for selling stocks/funds in taxable acct.

Hello, I'm looking to sell funds in my taxable account for purchasing a house. I have a variety of stock/bonds/index funds in the taxable account. Some orders were placed within the last year, others were placed over a year ago. In addition, some have yielded net gains, while others are in the red. ...
by cals400ex
Tue Oct 30, 2018 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: TLH [Tax Loss Harvesting]
Replies: 13
Views: 742

Re: TLH [Tax Loss Harvesting]

BTW, this is all in a taxable acct. Also, while I didn't realize it mattered, I do have "index funds" and "stocks" in my taxable account. How would this TLH process change between the two? I changed the cost basis to spec ID today for all stock and index funds in my taxable acct. So, I can see what ...
by cals400ex
Tue Oct 30, 2018 12:49 pm
Forum: Investing - Help with Personal Investments
Topic: TLH [Tax Loss Harvesting]
Replies: 13
Views: 742

Re: TLH

Maybe I'm confused, but I can't sell specific purchases of a fund that has a loss? For example, my gain on VTSAX is positive for the year, but my last two individual purchases have netted a significant loss. Is there no way to sell just those two lot purchases? You'll want to change your cost basis...
by cals400ex
Tue Oct 30, 2018 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: TLH [Tax Loss Harvesting]
Replies: 13
Views: 742

Re: TLH

Maybe I'm confused, but I can't sell specific purchases of a fund that has a loss? For example, my gain on VTSAX is positive for the year, but my last two individual purchases have netted a significant loss. Is there no way to sell just those two lot purchases?
by cals400ex
Tue Oct 30, 2018 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: TLH [Tax Loss Harvesting]
Replies: 13
Views: 742

Re: TLH

How can I tell which purchases are being sold at a loss at Vanguard? Maybe I just need to dig a little deeper on their site, but the overview shows my overall balance of any specific fund - It's not broken down into each individual purchase that I made.
by cals400ex
Tue Oct 30, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Heritage Bank high interest checking?
Replies: 0
Views: 165

Heritage Bank high interest checking?

I was curious if anyone has used Heritage Bank for their high interest checking account? They currently are offering 3.33% APY on balances below $25K and the requirements are: Make 10 or more debit card payments and/or purchases, Have at least one direct deposit or ACH each month, and Receive monthl...
by cals400ex
Tue Oct 30, 2018 10:00 am
Forum: Investing - Help with Personal Investments
Topic: TLH [Tax Loss Harvesting]
Replies: 13
Views: 742

TLH [Tax Loss Harvesting]

I am a little confused on properly TLH. For starters, I realize that you don't necessarily want to sell when a fund is low, but I am trying to understand the logistics behind TLH. For example: 1. If I purchase a fund within this calandar year and there is a loss, I can sell it and report my losses t...
by cals400ex
Sun Oct 28, 2018 12:45 am
Forum: Personal Finance (Not Investing)
Topic: sold condo that was given to me, taxes owed?
Replies: 17
Views: 1395

Re: sold condo that was given to me, taxes owed?

With the tax brackets, I was previously in the 28% and this year I should be in the 24%.

And I’m not sure why the sale was done like it was. I’m
by cals400ex
Sat Oct 27, 2018 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: sold condo that was given to me, taxes owed?
Replies: 17
Views: 1395

Re: sold condo that was given to me, taxes owed?

I am already maxed out with the 401k this year. I don't have a traditional IRA, but my roth IRA is maxed for the year. I don't have a HSA. To answer the questions with the timeframe: My parents purchased the condo ~20 years ago. This month they gave each child 1/3 of the condo. This month 2/3's of t...
by cals400ex
Sat Oct 27, 2018 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: sold condo that was given to me, taxes owed?
Replies: 17
Views: 1395

Re: sold condo that was given to me, taxes owed?

For determining basis, I would need to factor in what they paid for the property and then subtract any expenses over the years that they owned it? In other words, what goes into determining the basis?
by cals400ex
Sat Oct 27, 2018 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: sold condo that was given to me, taxes owed?
Replies: 17
Views: 1395

sold condo that was given to me, taxes owed?

My parents owned a condo that they gave to me, my brother, and my sister. Me and my sister sold both of our portions to my brother for the market value (we each owned 1/3 of market value). All of these transactions happened in a matter of a few days. Overall, it was a gift to us children that we are...
by cals400ex
Mon Sep 03, 2018 8:58 am
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2559

Re: Placing a stop-loss order with vanguard

3. The fee from vanguard is $7.00 for this transaction in addition to the $7.00 fee to buy a stock/eft? No. That is the total commission. No extra charge for stop loss. I must be looking at this incorrectly. I would first need to place a "buy order" for the stock (which is $7.00). Then, from my und...
by cals400ex
Sun Sep 02, 2018 12:47 pm
Forum: Investing - Theory, News & General
Topic: Placing a stop-loss order with vanguard
Replies: 29
Views: 2559

Placing a stop-loss order with vanguard

I just want to make sure that I understand how this works. I first need to either currently hold or I need to buy a stock/ETF/fund, etc. I then go go Sell ETF and stocks (assuming it is a stock/etf). Enter the symbol that I want to place a stop loss on. Enter how many shares that I want the stop los...
by cals400ex
Sun Aug 26, 2018 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: building apartment complex....advice needed
Replies: 5
Views: 895

Re: building apartment complex....advice needed

I’d suggest talking to local property managers. They should know what streets their local renters are wanting to live, what quality of building and finishes that renters are looking for, what things renters don’t care about, what layouts are good, what amenities are standard. They would have the be...
by cals400ex
Sun Aug 26, 2018 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: building apartment complex....advice needed
Replies: 5
Views: 895

Re: building apartment complex....advice needed

Can you provide some more details? What sized complex are you envisioning? Do you already have a site purchased? I am planning to start with 10-20 units. I want to start at this "smaller" level first. I do not have a site purchased. I want to do as much research first before I determine the exact l...
by cals400ex
Sat Aug 25, 2018 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: building apartment complex....advice needed
Replies: 5
Views: 895

building apartment complex....advice needed

Hello, I am interested in building an apartment complex. I have already spoken with an engineer and construction loan officers at banks. I am not sure who can give me good, solid, and trustworthy advice on what areas could use apartments vs what areas are over-saturated? In addition, I am looking fo...
by cals400ex
Fri Mar 02, 2018 11:51 am
Forum: Investing - Help with Personal Investments
Topic: Properly calculating "work mileage"
Replies: 2
Views: 358

Properly calculating "work mileage"

I'm a little confused how I should calculate my work mileage. I am an employee. The employer has me take a bank deposit each night to the bank. I am not compensated in any fashion for this. I realize that I can't deduct mileage to and from work. If I go straight from work to home without going to th...
by cals400ex
Tue Jan 09, 2018 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: Is VWLTX too risky for bond fund?
Replies: 6
Views: 969

Is VWLTX too risky for bond fund?

I currently hold VWLTX in a taxable account. I like to keep my AA around 80% stock, 20% bonds. I'm okay with taking more risk for more possible gains with this long term tax exempt fund. However, is this too risky to offset a major market downturn? In other words, how much safer is being invested in...
by cals400ex
Thu Oct 19, 2017 3:13 pm
Forum: Investing - Help with Personal Investments
Topic: Relatively safe fund for taxable acct.
Replies: 5
Views: 971

Re: Relatively safe fund for taxable acct.

Since I’m still wanting some risk, would VWLTX be an acceptable option?
by cals400ex
Thu Oct 19, 2017 12:58 am
Forum: Investing - Help with Personal Investments
Topic: Relatively safe fund for taxable acct.
Replies: 5
Views: 971

Relatively safe fund for taxable acct.

I’m looking for suggestions on a relatively safe fund for a taxable account. I currently have 60% VTSAX and 40% Amazon stock in this account. I may not sell any of these funds for 30 years when I’m in retirement (I’m 35 yo and in the 28% tax bracket and live in Illinois). Or I might sell some for a ...
by cals400ex
Thu Jun 29, 2017 8:02 pm
Forum: Investing - Help with Personal Investments
Topic: Buying index fund, what time is the cut-off to be post that day?
Replies: 6
Views: 773

Buying index fund, what time is the cut-off to be post that day?

When purchasing index funds from Vanguard, what time is the cut off for that purchase to be posted the same day? I was thinking it was 4 PM, Eastern time? However, someone told me they thought it was 10 AM when purchasing index funds...I'm not sure that is right though.
by cals400ex
Tue May 09, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: calculating work related mileage as an employee
Replies: 10
Views: 1562

Re: calculating work related mileage as an employee

Thanks for the replies. My boss is actually my brother. We are both dentists, but I'm an employee of his. I'm not going to raise any raise any problems with him. Ultimately, I get paid on collections, so if the deposit doesn't get to the bank then I don't get paid anyway! With that being said, I do ...
by cals400ex
Sat Apr 29, 2017 8:41 am
Forum: Personal Finance (Not Investing)
Topic: calculating work related mileage as an employee
Replies: 10
Views: 1562

calculating work related mileage as an employee

I understand that the miles driven from home to work can't be reported. However, at the end of the day my boss has me go from work to the bank to the post office, and from the post office I go home. I'm not compensated in any fashion for the miles driven. If I drove straight from work to home with n...
by cals400ex
Mon Apr 10, 2017 6:37 pm
Forum: Investing - Help with Personal Investments
Topic: withdraw money from previous jobs' 401k
Replies: 5
Views: 578

Re: withdraw money from previous jobs' 401k

He did start a new job. He was working for a corporate dental office. He recently purchased his own office. I'm not exactly sure what roll-overs are allowed with his current 401k (that's if he even setup a 401k yet). And I'm not sure what his balance of his "old" 401k is. I guess it's hard to me as ...
by cals400ex
Mon Apr 10, 2017 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: withdraw money from previous jobs' 401k
Replies: 5
Views: 578

withdraw money from previous jobs' 401k

A friend of mine is looking to withdraw money from a 401k where he no longer works, and use some of that as a needed down payment on a house. I don't know his tax bracket, but he is 40 years old, married, 5 kids, and his income varies drastically each year, but it is usually between 100-150K per yea...
by cals400ex
Thu Feb 16, 2017 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: sole prop. - mileage deductions with no "main job" site
Replies: 21
Views: 1736

Re: sole prop. - mileage deductions with no "main job" site

Do you order equipment, maintain business/malpractice insurance, pay taxes, communicate with your client/"employer"? Where do you do these things? In your home office I presume. I do not order equipment. The company employs dental assistants and hygienists to do this. They are employees, unlike the...
by cals400ex
Thu Feb 16, 2017 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: sole prop. - mileage deductions with no "main job" site
Replies: 21
Views: 1736

Re: sole prop. - mileage deductions with no "main job" site

I was a sole proprietor for years and I deducted absolutely any mileage that related to my business. If I had to drive 30 miles to pick up materials, that was deducted. Driving to bid jobs was deducted, etc. In your scenario the tricky part is that they're paying you 15 cents per mile after the 30t...
by cals400ex
Thu Feb 16, 2017 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: sole prop. - mileage deductions with no "main job" site
Replies: 21
Views: 1736

Re: sole prop. - mileage deductions with no "main job" site

Honestly, I almost feel like an employee. All of my work is for one company with this job (this job is part-time for me, usually only 1-2 days per week). With that being said, our contract is very clear that I am an independent contractor, and there is no form of employer/employee relationship. I ge...
by cals400ex
Thu Feb 16, 2017 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: sole prop. - mileage deductions with no "main job" site
Replies: 21
Views: 1736

Re: sole prop. - mileage deductions with no "main job" site

I don't really have any administrative tasks. The company that hired me requires me to be a independent contractor/sole proprietor. They send me my work schedule and I have to show up to work, that's it. The only thing I use the "office" for would be to keep my log of daily miles traveled. It sounds...
by cals400ex
Thu Feb 16, 2017 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Payoff vs. ANY Investing
Replies: 29
Views: 2284

Re: Student Loan Payoff vs. ANY Investing

I was in a similar situation. I hit my 200k of student loans as hard as I could and had them paid off in 4.5 years, after refinancing a few times with a local bank. If I had to do it again, I would max out my 401k and backdoor Roth IRA and put everything left over into the student loans.
by cals400ex
Thu Feb 16, 2017 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: sole prop. - mileage deductions with no "main job" site
Replies: 21
Views: 1736

Re: sole prop. - mileage deductions with no "main job" site

It looks like I won't be able to deduct those commuting miles. When calculating miles that I can deduct when working at multiple job sites on the same day, which method do I use: Example: Home to job site 1 (20 miles) - job site 1 to job site 2 (15 miles) - job site 2 to home (8 miles). Would my ded...
by cals400ex
Thu Feb 16, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: sole prop. - mileage deductions with no "main job" site
Replies: 21
Views: 1736

sole prop. - mileage deductions with no "main job" site

I'm an independent contractor (sole proprietor) working as a dentist in nursing homes/assisted living centers. I go to different nursing homes/assisted living centers each day, so I don't have a "regular" or "main" work site. I have no reason to believe any location will be a temporary job. At the e...
by cals400ex
Wed Jan 25, 2017 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Independent contractor solo 401k
Replies: 8
Views: 865

Re: Independent contractor solo 401k

If my net self employment income is $20K and defer 18K to this solo 401k (job 2), I assume my profit sharing would now decrease?
by cals400ex
Wed Jan 25, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: calculating self employment tax with 2 jobs
Replies: 4
Views: 436

calculating self employment tax with 2 jobs

For accounting purposes, I'm looking at this example for calculating self employment tax: Job 1: I'm an employee (all taxes come out of the paycheck). My gross wages are 100K per year. Job 2: I'm a sole proprietor independent contractor. My wages are 25K per year. How would I calculate self employme...
by cals400ex
Wed Jan 25, 2017 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Independent contractor solo 401k
Replies: 8
Views: 865

Re: Independent contractor solo 401k

I want to max out my roth ira, and in previous years I've made ~120k-160k. This year might be lower bc I'm cutting back on hours working. I think the income limit for a single individual to max out a roth ira is 118k, and it starts phasing off from there. Regardless, my income can fluctuate a lot, a...
by cals400ex
Wed Jan 25, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Independent contractor solo 401k
Replies: 8
Views: 865

Independent contractor solo 401k

I'm 33 years old, single, Illinois resident. I have two jobs. One job I'm an employee (make about $85K gross, but this can vary quite a bit), the second job I'm an independent contractor and I have NO employees (make about 20K gross, but this can vary a lot, too). Job 1 has a 401k with good funds (v...
by cals400ex
Fri Jan 06, 2017 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: can this whole pay period go to 2017 401k?
Replies: 4
Views: 653

Re: can this whole pay period go to 2017 401k?

My brother owns the company so I have flexibility in that regard. With that being said, he does a 3% contribution each pay period regardless if we contribute anything into the 401K or not. So, I don't need to split my contributions up over the 12 months to get the max "match." Also, I was wanting to...
by cals400ex
Fri Jan 06, 2017 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: can this whole pay period go to 2017 401k?
Replies: 4
Views: 653

can this whole pay period go to 2017 401k?

I'm just making sure I'll be in the clear....My pay period is 12/25/16-1/8/17, but the pay date is 1/15/16. I'm wanting to put this whole paycheck towards my 2017 401k (2016 is maxed out), but since the pay period is part of 2016 and part of 2017, does that matter? Does just the pay date matter?
by cals400ex
Sat Oct 01, 2016 7:34 am
Forum: Investing - Help with Personal Investments
Topic: Good funds for Emergency Fund?
Replies: 21
Views: 3141

Re: Good funds for Emergency Fund?

You'll get a lot of different opinions on this subject. I, personally, keep $15K in my checking account (I think my "value checking account" at my local bank currently pays ~1.25% on the first $15K, and next to nothing above and beyond $15K). This is probably 4-5 months of expenses for me. I also ha...
by cals400ex
Sat Aug 27, 2016 5:56 pm
Forum: Investing - Help with Personal Investments
Topic: is IRR worth it for me
Replies: 1
Views: 363

is IRR worth it for me

My current 401K plan allows IRR, and I'm trying to determine if this is a better option than taxable investing. A few stats: 33 years old, 28% tax bracket, currently max out 401K and backdoor roth ira, I am NOT considered a highly compensated employee, have 6-month emergency fund and an additional $...
by cals400ex
Wed Aug 17, 2016 2:54 pm
Forum: Investing - Theory, News & General
Topic: Looking for dirt cheap commissions on DFA funds
Replies: 27
Views: 5689

Re: Looking for dirt cheap commissions on DFA funds

I'm not sure if this helps, but I have vanguard and dfa funds and my 401k administrator told me this: There are no trading fees or transaction fees of any kind in this 401k plan. Participants can go on-line and switch out their funds whenever they choose without cost. The Custodial fees are included...
by cals400ex
Mon Jul 25, 2016 10:42 pm
Forum: Investing - Help with Personal Investments
Topic: Pre-Tax and Post-Tax definition for Megaback door
Replies: 8
Views: 1025

Re: Pre-Tax and Post-Tax definition for Megaback door

I'm trying to go through the same process. My plan administrators believe I can: 1. Make after tax contributions. 2. Have it setup to automatically do an in plan Roth rollover (to avoid any taxes on gains). 3. Transfer everything from 2. to my Roth IRA, if I choose to do so. My plan charges $90 each...
by cals400ex
Thu Jul 14, 2016 6:43 pm
Forum: Investing - Help with Personal Investments
Topic: In plan roth roll over, and conversion to roth ira
Replies: 8
Views: 850

Re: In plan roth roll over, and conversion to roth ira

After just hearing back from the plan administrator, I can NOT do lump sum contributions (they must be payroll deductions). Regarding how much I will contribute each year.....It'll vastly depend on how much I make. Since I'm paid on commission, it varies drastically. I'll make every effort to get u...
by cals400ex
Thu Jul 14, 2016 6:39 pm
Forum: Investing - Help with Personal Investments
Topic: In plan roth roll over, and conversion to roth ira
Replies: 8
Views: 850

Re: In plan roth roll over, and conversion to roth ira

My 401k plan offers an in plan roth rollover (IRR) for the after tax money contributed (above the 18K limit). There are no fees for this service, and it can be done immediately to prevent taxes on gains. As an added benefit, I can do a direct rollover distribution to my roth ira. The only kicker is...
by cals400ex
Wed Jul 13, 2016 6:23 pm
Forum: Investing - Help with Personal Investments
Topic: In plan roth roll over, and conversion to roth ira
Replies: 8
Views: 850

Re: In plan roth roll over, and conversion to roth ira

They still haven't told me what the exact management fees are. By law, they are required to disclose this info. However, every time that I ask, they tell me it depends on several variables (amount contributed yearly, portfolio size, how many man hours it takes to manage the account yearly, etc.). Th...
by cals400ex
Wed Jul 13, 2016 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: In plan roth roll over, and conversion to roth ira
Replies: 8
Views: 850

Re: In plan roth roll over, and conversion to roth ira

After just hearing back from the plan administrator, I can NOT do lump sum contributions (they must be payroll deductions). Regarding how much I will contribute each year.....It'll vastly depend on how much I make. Since I'm paid on commission, it varies drastically. I'll make every effort to get up...