Search found 202 matches

by BAM!
Fri Dec 13, 2019 5:00 am
Forum: Personal Finance (Not Investing)
Topic: New business and Tax write offs
Replies: 3
Views: 288

New business and Tax write offs

I understand this is a loaded post. I welcome all the responses and critiques with open arms :happy . I am thinking of starting a media business consisting of videos with ad revenue. I have a time frame of 2 years to make it work. If the business is unsuccessful, I would likely have to close it afte...
by BAM!
Thu Nov 21, 2019 2:18 am
Forum: Personal Consumer Issues
Topic: Help me find this tool
Replies: 14
Views: 1118

Re: Help me find this tool

wire cutting tool for clay might be what you're looking for. not sure if it will work for this project though.
by BAM!
Wed Jul 31, 2019 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: Never had a credit card
Replies: 6
Views: 652

Never had a credit card

I have never owned a credit card. No debt. No mortgage. I always pay my bills on time. Income is north of 300k per year but less than 500k and stable. However my credit score is pretty weak. Last time I checked it was 550-600. I am assuming because I have never built up any credit. I would like to s...
by BAM!
Wed Jun 19, 2019 2:05 am
Forum: Personal Consumer Issues
Topic: The ultimate Boglehead car [Purchase of storm-damaged car]
Replies: 19
Views: 3576

Re: The ultimate Boglehead car [Purchase of storm-damaged car]

Cycle wrote:
Tue Jun 18, 2019 11:22 pm
40% seems like a good deal, but I still think a private party used vehicle with ~150k miles will end up costing less per year. Or just sell your car and ride the bus and bike like I do.
can't transport groceries for a family of 4 on your bike.
by BAM!
Wed Jun 19, 2019 1:32 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire in 1 year at 53
Replies: 54
Views: 10313

Re: Can I retire in 1 year at 53

how are you only paying 5k in taxes with 150k income?
by BAM!
Wed Jun 19, 2019 1:28 am
Forum: Personal Consumer Issues
Topic: Bandaid that doesn't absorb medicine?
Replies: 9
Views: 810

Re: Bandaid that doesn't absorb medicine?

perhaps you're looking for a type of gauze called "nonadherent".
by BAM!
Mon Jun 17, 2019 1:06 am
Forum: Personal Finance (Not Investing)
Topic: Shortcomings on Estimated Taxes
Replies: 17
Views: 1617

Re: Shortcomings on Estimated Taxes

It's a bit confusing to say that you should have paid 2.5% more than last yrs tax..........................since the safe harbor rule is to pay 110% (if you need to) of last yrs tax........so 10% more for each qtr and for the yr as a whole compared to last yrs qtrs and yr. Even if you insist on say...
by BAM!
Sun Jun 16, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Shortcomings on Estimated Taxes
Replies: 17
Views: 1617

Re: Shortcomings on Estimated Taxes

this is where I got the 110% safe harbor rule: https://www.ftb.ca.gov/individuals/faq/ivr/208.shtml Generally, you must make estimated tax payments if you expect to owe at least $500 ($250 if married/RDP filing separately) in tax for 2019 (after subtracting withholding and credits) and you expect yo...
by BAM!
Sun Jun 16, 2019 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Shortcomings on Estimated Taxes
Replies: 17
Views: 1617

Re: Shortcomings on Estimated Taxes

As you probably know, California doesn’t require 25% of your estimated taxes paid each quarter. They want 30% by mid April, 40% in mid June, nothing in September and then 30% in mid January. If I were you I would add whatever I felt I had underpaid my 1st quarter 540 ES to what I was going to pay i...
by BAM!
Sun Jun 16, 2019 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Shortcomings on Estimated Taxes
Replies: 17
Views: 1617

Re: Shortcomings on Estimated Taxes

Thank you for correcting my original question. I accidentally mis-stated the details of the question. Yes I paid 0.3 and then 0.4 for Q1 and Q2, not 0.25 & 0.25.
by BAM!
Sun Jun 16, 2019 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Shortcomings on Estimated Taxes
Replies: 17
Views: 1617

Shortcomings on Estimated Taxes

I think I may have paid my Q1 estimated taxes for California a little short. What I mean by this is that instead of paying 2.5% more than an estimate based on last year, I just paid the estimate based on last year's taxes divided by 4. Should I: Pay this now, during this Q2 tax bill? Somehow label i...
by BAM!
Thu Mar 28, 2019 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Capital Gains on inherited Taxable Account
Replies: 3
Views: 435

Capital Gains on inherited Taxable Account

Do my kids need to pay capital gains taxes when they inherit my taxable account upon my death, with all of its capital gains?
by BAM!
Thu Mar 14, 2019 3:09 am
Forum: Personal Finance (Not Investing)
Topic: Salvation Army Pickup Address (TAXES)
Replies: 1
Views: 267

Salvation Army Pickup Address (TAXES)

The Salvation Army Truck is awesome! They come to your home and pick up your donations. However if you are like me, you donated more than $500 worth of goods and are required to list the charity's address. The address isn't on the receipt and I can't find it online. Should I just list the closest Sa...
by BAM!
Thu Jan 10, 2019 2:39 am
Forum: Personal Finance (Not Investing)
Topic: Switched From W2 to K1 Half Way Through Quarter
Replies: 1
Views: 240

Switched From W2 to K1 Half Way Through Quarter

I switched form a W2 to a K1 half way through Q4 2018. Do I pay a prorated estimated tax based off of when I switched from W2 to K1? Or do I pay estimated taxes on the entire Quarter 4?
by BAM!
Sat Jan 05, 2019 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Switching from W2 to K1
Replies: 4
Views: 422

Re: Switching from W2 to K1

4% of what?
by BAM!
Sat Jan 05, 2019 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Switching from W2 to K1
Replies: 4
Views: 422

Re: Switching from W2 to K1

How much is the penalty?
by BAM!
Sat Jan 05, 2019 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Switching from W2 to K1
Replies: 4
Views: 422

Switching from W2 to K1

I switched from a W2 to a K1 due to a promotion half way through Quarter 4, 2018. Now I need to file estimated quarterly taxes by Jan 15, 2019. I will receive a pay increase due to the promotion, maybe 10-15%. :moneybag Should I estimate the quarterly taxes based on 100% of the Federal and State tax...
by BAM!
Mon Aug 13, 2018 5:28 pm
Forum: Personal Investments
Topic: Syndicated Real Estate Investment Opportunity
Replies: 19
Views: 3649

Re: Syndicated Real Estate Investment Opportunity

Did you buy it? and if so, was it worthwhile?
by BAM!
Mon Jul 02, 2018 3:48 pm
Forum: Personal Investments
Topic: Child Roth Ira Question
Replies: 7
Views: 812

Child Roth Ira Question

My 2 kids each did a photo shoot with a toy company. As a result they were paid in the form of 2 toys each. These are nice toys ~ $75 each.

Could I open a Roth Ira in each of their names and put in $150 each?
by BAM!
Tue May 15, 2018 4:20 pm
Forum: Personal Consumer Issues
Topic: Neighbor wants to use our land temporarily - let them or not?
Replies: 51
Views: 9092

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

Depends, do you want to be a good neighbor?
by BAM!
Wed Feb 28, 2018 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: How to reset homeowner status
Replies: 1
Views: 422

How to reset homeowner status

Does anyone know how to reset Turbotax's designation of homeowner status? I can't seem to find this anywhere.

I'm a homeowner without mortgage, but Turbotax thinks I have a mortgage. As a result it's affected the federal deductions I'm trying to take from property taxes I've paid.
by BAM!
Wed Feb 28, 2018 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Backdoor Roth IRA, Nondeductible Contributions
Replies: 3
Views: 459

Re: TurboTax Backdoor Roth IRA, Nondeductible Contributions

mhalley wrote:
Wed Feb 28, 2018 6:01 pm
Finance buff goes through reporting a backdoor Roth via TurboTax here:
https://thefinancebuff.com/how-to-repor ... botax.html
my picture is from that website. I'm asking a question about that particular step, from thefinancebuff's guide.
by BAM!
Wed Feb 28, 2018 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Backdoor Roth IRA, Nondeductible Contributions
Replies: 3
Views: 459

TurboTax Backdoor Roth IRA, Nondeductible Contributions

I'm using TurboTax Online and trying to do the Backdoor Roth IRA, but I have a question about one of the screens. https://lh3.googleusercontent.com/-OvEMXTjvf3U/VqVph8qGD1I/AAAAAAAACWw/IpabR_NfW6U/s640-Ic42/10%252520kept%252520track..jpg In my situation, in 2017 I added $5500 to both mine and spouse...
by BAM!
Sat Dec 23, 2017 4:04 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth 2018 Still allowed?
Replies: 2
Views: 1022

Backdoor Roth 2018 Still allowed?

Does the new tax bill affect Backdoor Roth IRAs? Can we still do it the normal way we have always done?

Thanks

Sorry if this is a duplicate post, I searched but couldn't find an answer.
by BAM!
Sat Dec 23, 2017 3:27 am
Forum: Personal Finance (Not Investing)
Topic: Deducting standard and retirement
Replies: 4
Views: 825

Re: Deducting standard and retirement

What if you have a Sep it's or individual 401k or another means of packing away 53k of pretax income. Do you get to deduct the 53k plus 24k standard deduction Under the new plan?
by BAM!
Fri Dec 22, 2017 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Deducting standard and retirement
Replies: 4
Views: 825

Deducting standard and retirement

Under the new trump tax plan, can you take the standard deduction and then also deduct retirement plans on top of it? For example, take $24k std deduction + $18k 401k deduction?
by BAM!
Fri Dec 22, 2017 12:25 am
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 73195

Re: Prepaying property tax in 2017

No info on the LA County website.
by BAM!
Thu Dec 21, 2017 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 73195

Re: Prepaying property tax in 2017

How does one check their county, for example San Francisco or Los Angeles?
by BAM!
Thu Dec 21, 2017 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 73195

Prepaying property taxes in 2017

I heard that you can prepay your property taxes for a 2018 in 2017. This would be beneficial in the sense that you could deduct the prepaid 2018 property taxes in your 2017 tax year. This could be helpful for minimizing your tax liability under the new Trump legislation. However I have also heard th...
by BAM!
Mon Nov 20, 2017 2:36 pm
Forum: Personal Consumer Issues
Topic: Drive it till it dies. It died.
Replies: 54
Views: 7675

Re: Drive it till it dies. It died.

I would call and write Nissan politely. If they don't offer you at least half the replacement cost, I would call and write Nissan impolitely. Mention lawyer and class action lawsuit. It might work, it might not. Don't be this kind of person. This is exactly what's wrong with America! Either get a n...
by BAM!
Sun Oct 29, 2017 1:19 am
Forum: Personal Finance (Not Investing)
Topic: What was the main reason you retired?
Replies: 210
Views: 21306

Re: What was the main reason you retired?

Not to hijack the thread, but those who answered that they disliked the job makes it a bit sad. Great you have enough to do what you want AFTER spending 30+ years doing something you disliked. Seems that one wasted a LARGE portion of their youth just to make money that they may or may not take adva...
by BAM!
Tue Oct 24, 2017 12:14 pm
Forum: Personal Consumer Issues
Topic: equity based tennis club
Replies: 5
Views: 1337

Re: equity based tennis club

That's what I'm afraid of. It almost seems like a time-share version for a club.
by BAM!
Tue Oct 24, 2017 12:14 pm
Forum: Personal Consumer Issues
Topic: equity based tennis club
Replies: 5
Views: 1337

Re: equity based tennis club

tim1999 wrote:
Tue Oct 24, 2017 5:54 am
Make sure it's not one of those where if you want out of the club, you have to keep paying dues until they find a "replacement" member to take your spot. Plenty of people have been burned by that outdated membership model in golf clubs since the 2008/2009 bust.
did you have this problem?
by BAM!
Mon Oct 23, 2017 10:56 pm
Forum: Personal Consumer Issues
Topic: equity based tennis club
Replies: 5
Views: 1337

equity based tennis club

I am considering joining an equity based tennis club. Anyone have any experience with something like this? Are there any hidden pitfalls?
by BAM!
Mon Oct 23, 2017 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: Heading to ER, surprise bills [update: home again]
Replies: 44
Views: 6821

Re: Urgent! Heading to ER, surprise bills

I wish I had good advice for you, I just want you to know I feel for the situation and hope it works out (preferably with nothing seriously wrong and no expensive consults needed to determine that). I think the people who are telling you to not care about the potential cost and get whatever care is...
by BAM!
Wed Oct 04, 2017 2:54 am
Forum: Personal Investments
Topic: Transferring taxable accounts
Replies: 3
Views: 595

Re: Transferring taxable accounts

I never talked with advisor B. Yes, I agree with you. They said they couldn't do it because they wanted to reinvest it their way.
by BAM!
Wed Oct 04, 2017 2:01 am
Forum: Personal Investments
Topic: Transferring taxable accounts
Replies: 3
Views: 595

Transferring taxable accounts

I have a family member who wants to transfer her taxable account from "High fees advisor A" to "Lower fees advisor B." She doesn't want to do low cost index funds despite my years of failed persuasion. Eh, it's ultimately her decision. Is there a way to transfer without creating a taxable event, ie ...
by BAM!
Sun Jul 09, 2017 3:23 am
Forum: Investing - Theory, News & General
Topic: Best Way to Compare Mutual Funds Online?
Replies: 5
Views: 994

Re: Best Way to Compare Mutual Funds Online?

dbr wrote:Maybe this is what you have in mind: https://www.portfoliovisualizer.com/backtest-portfolio
This is perfect!

Thanks
by BAM!
Sat Jul 08, 2017 11:10 pm
Forum: Personal Investments
Topic: Transfer 401k to Roth IRA
Replies: 2
Views: 331

Transfer 401k to Roth IRA

What's the best way to transfer my wife's crummy, old, high cost 401k to her beautiful, low cost ROTH IRA? I'd like to avoid all fees if possible.
by BAM!
Sat Jul 08, 2017 10:55 pm
Forum: Personal Consumer Issues
Topic: What to wear for job interview - skip the tie?
Replies: 83
Views: 11066

Re: What to wear for job interview - skip the tie?

Just wear the tie. It shows you're taking the job interview seriously.
by BAM!
Wed Jul 05, 2017 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking advice on 1.2m (now 900K) house purchase
Replies: 192
Views: 19913

Re: Seeking advice on 1.2m house purchase

Everyone here is saying, DON'T DO IT! Listen to them. These are NOT people from North Dakota. This board is flooded with people from CA who know the Bay Area.
by BAM!
Thu Jun 29, 2017 2:30 am
Forum: Investing - Theory, News & General
Topic: Best Way to Compare Mutual Funds Online?
Replies: 5
Views: 994

Best Way to Compare Mutual Funds Online?

My wife and I have a few different 401k's. Some of these plans are very simple (vanguard 3 fund), some are Target Funds, and some are more complex (9 separate funds). I'd like to find out which one has been performing the best.

What is the best way to compare these online?
by BAM!
Sat Jun 10, 2017 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: Where do you keep your Savings?
Replies: 24
Views: 4884

Re: Where do you keep your Savings?

kathyauburn wrote: Spend more time on discipline and less on buckets.
The savings accounts are a way of creating discipline. It's not so much an issue for me, as I'm not a big spender, but my wife OTOH...
by BAM!
Sat Jun 10, 2017 5:09 am
Forum: Personal Finance (Not Investing)
Topic: Where do you keep your Savings?
Replies: 24
Views: 4884

Re: Where do you keep your Savings?

That number of savings accounts would stress me out. How many do you need? IMO, 1. Spend more time on discipline and less on buckets. Fact is if you tried to have a savings account for each type of expenditure, planned or not, you'd need a lot more than you have. Actually, I like having this many s...
by BAM!
Fri Jun 09, 2017 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Where do you keep your Savings?
Replies: 24
Views: 4884

Where do you keep your Savings?

I keep a few different online bank accounts.

1 for Emergency Fund
1 for Car Savings
1 for Vacation Savings
1 for Expected large annual expenses such as insurance premiums

I feel that this leads to an extra $20-30k that could be invested throughout the year.

Does anyone have a similar situation?
by BAM!
Wed Jun 07, 2017 11:45 am
Forum: Personal Investments
Topic: Distributions for TSM. Wait to invest?
Replies: 3
Views: 842

Re: Distributions for TSM. Wait to invest?

Thanks for the replies!
by BAM!
Wed Jun 07, 2017 2:53 am
Forum: Personal Investments
Topic: Distributions for TSM. Wait to invest?
Replies: 3
Views: 842

Distributions for TSM. Wait to invest?

I have around $14k I'd like to put into my taxable account. I am planning on purchasing the TOTAL STOCK MARKET Vanguard fund. I believe the quarterly distributions for the TSM fund will be coming soon. If I invest now, will I have to pay taxes on this distribution? Is this even significant? My rough...
by BAM!
Mon Jun 05, 2017 6:29 pm
Forum: Personal Investments
Topic: Where to put IRA money for next year?
Replies: 9
Views: 1135

Re: Where to put IRA money for next year?

Thanks for all the advice. I think the collective brain is right, taxable is the way to go! :D