Search found 62 matches

by JStephens
Thu Jan 10, 2019 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: How to sign business tax form (1096) if out of the country?
Replies: 14
Views: 531

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

The 1096 form doesn't need to be signed by the tax payer. Just have your mother sign it and have her list the title as "Accountant" or something. https://www.irs.gov/pub/irs-pdf/f1096.pdf I can't find the instructions specifically for the 1096, only general information return instructions. They use...
by JStephens
Thu Jan 10, 2019 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: How to sign business tax form (1096) if out of the country?
Replies: 14
Views: 531

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

The 1096 form doesn't need to be signed by the tax payer. Just have your mother sign it and have her list the title as "Accountant" or something.

https://www.irs.gov/pub/irs-pdf/f1096.pdf
by JStephens
Sat Dec 29, 2018 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"
Replies: 225
Views: 27438

Re: "Bank Of America Cash Rewards Card Now Lets You Choose Your 3%(=5.25%) Category"

theplayer11 wrote:
Wed Dec 19, 2018 2:09 pm
where are people with Merrill parking their short term money? I'm finding it hard to find their money market options
You can buy CDs under the fixed income screener. You can only view them when the market is open.
by JStephens
Tue Dec 18, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 398
Views: 58526

Re: Turbo Tax Premier 2016 Free @ Fidelity (Premium Services customers, maybe not all)

Premium Services client here, $500K, no free TT offer. I called PS and they said it's only for active traders, which I don't believe is correct. I emailed my Fidelity contact last week and he did not have word of this year's offer yet. I will be adding assets early next year so I assume he will eit...
by JStephens
Thu Nov 15, 2018 9:48 pm
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 1024
Views: 87481

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

I just opened a new HSA at fidelity and as others have said, quite painless. The only item I can't find on the website is where it would track annual contribution amounts. For those with current HSA accounts at Fidelity through their employers, is this available online? Also, if I want my account t...
by JStephens
Fri Oct 12, 2018 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 73
Views: 7392

Re: Just Divorced -- Need Help

If you transfer a balance onto a card, you don't want to use that card for normal purchases. The normal purchases won't have the grace period so you'll be paying the 25% interest on all purchases you makes until the whole card has a $0 balance (which will be never if you're making purchases on it). ...
by JStephens
Fri Aug 24, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: K-1 1120S Income Vs. Distribution
Replies: 4
Views: 318

Re: K-1 1120S Income Vs. Distribution

Keep in mind there's a guarantee payment field, which is basically the paycheck.
by JStephens
Thu Aug 23, 2018 2:45 pm
Forum: Personal Consumer Issues
Topic: Circuit breaker stays tripped
Replies: 29
Views: 2805

Re: Circuit breaker stays tripped

ThankYouJack wrote:
Thu Aug 23, 2018 12:26 pm
I don't think there's a GFCI outlet to that area of the house and I'm guessing there's a short someplace. Should I try/test anything else before calling an electrician?
I would look again. I had the same thing you had and there was an outlet hidden underneath a porch.
by JStephens
Mon Aug 20, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else seen huge rise in TX insurance costs?
Replies: 27
Views: 1980

Re: Anyone else seen huge rise in TX insurance costs?

Mine went up about 15% in Dallas. Liability only.
by JStephens
Mon Aug 06, 2018 2:20 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 807
Views: 85903

Re: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)

Jim Dahle, M.D. (White Coat Investor) has a great blog post today putting all this in perspective... https://www.whitecoatinvestor.com/expense-ratios/ That is a very comprehensive discussion, thank you for the link. His return tables are very disingenuous. FSTVX is only 0.015% ER as of Thursday (or...
by JStephens
Sun Aug 05, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to lose $200 in taxable income?
Replies: 96
Views: 7619

Re: Best way to lose $200 in taxable income?

I like the options idea. Just buy $200 in options and let them expire worthless unless I incur a gain of $400. But what can I buy for $200? Don't know much about options trading. I might want to wait until closer to end of year in order to get the amount exactly right but that would almost surely i...
by JStephens
Wed Aug 01, 2018 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Roth vs Traditional at Cusp of 32% Bracket
Replies: 15
Views: 1236

Re: Roth vs Traditional at Cusp of 32% Bracket

So it sounds like you're contributing to a 401k. Is that right? If so, your income is too high to deduct the IRA contributions and too high to contribute to a roth. You'll have to do a backdoor roth contribution.
by JStephens
Sat Jul 21, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card - Keep Getting Denied
Replies: 27
Views: 2286

Re: Credit Card - Keep Getting Denied

The Capital One Platinum card is a no cashback card and pretty much anyone can get it. Usually has a low limit (thinks it maxes out at $2,000).
by JStephens
Sun Jul 08, 2018 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: 401k loan to pay off debt?
Replies: 45
Views: 3094

Re: 401k loan to pay off debt?

I would say it's not worth it. The CC debt and the 7% auto debt should be going away by the end of the year, and those are the two big ticket items. I wouldn't pay off the 2% one early at all. Personally, I would probably keep doing cc transfers on the 7k until the student loans are paid off.
by JStephens
Sat May 05, 2018 6:30 pm
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 370
Views: 52533

Re: MoviePass-Too good to be true, but it's legit.

Enjoy MoviePass while it lasts ... https://wapo.st/2HDNkgO?tid=ss_mail&utm_term=.c335c70dd82a “I don’t see how they can sustain themselves,” said Hester. People always say that about disrupters. Remember the Amazon naysayers - the bond analyst who was convinced it would go bankrupt? Who knows what ...
by JStephens
Mon Apr 30, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: [Process for] Turning over UTMA to Adult Daughter
Replies: 8
Views: 922

Re: Turning over UTMA to Adult Daughter

My father turned one over to me. He signed a form and I signed one too. I think it took us maybe 15 minutes walking into a Fidelity branch. It's been a while, but I'm pretty sure a new brokerage account was created in the act of signing it over.
by JStephens
Thu Apr 26, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Employer X vs Employer Y - which is better?
Replies: 4
Views: 565

Re: Employer X vs Employer Y - which is better?

Job Y's match basically cancels out the insurance difference and you can start it a year earlier.

Edit: misread OP
by JStephens
Fri Apr 20, 2018 8:54 pm
Forum: Personal Investments
Topic: High Income no 401k option
Replies: 2
Views: 741

Re: High Income no 401k option

At that income, you're most likely better off with a traditional IRA. Since you don't have a 401k, it's deductible.
by JStephens
Mon Apr 16, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Use 25k From Brokerage Account For Investment Property?
Replies: 29
Views: 3225

Re: Use 25k From Brokerage Account For Investment Property?

You're not getting $2,000 a month for that place. Based on your numbers You'll probably be breaking even at best. Also for rental properties a lot of the time they want 25% down payment, and I doubt you'll get a 4% unless you're doing a 15 year.
by JStephens
Wed Apr 04, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 13221

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

Lily established a solo 401(k) for herself and placed her investment property inside it so she can put the Airbnb rent she collects into her tax-deferred retirement savings. I just don't see how this is possible based on what she's said. Here's her story: https://www.thefrugalgene.com/dumb-luck-ric...
by JStephens
Sun Apr 01, 2018 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in syndicated real estate deals
Replies: 11
Views: 1403

Re: Investing in syndicated real estate deals

While index stock market invesrments will always go up over time, not so these real estate partnerships. I went through the investing phase of being interested in real estate partnerships. I made very modest amounts in two, and got burned badly in one. I may have barely broken even, or not, over a ...
by JStephens
Tue Mar 27, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: House Purchase - Sanity Check On Financials
Replies: 53
Views: 5026

Re: House Purchase - Sanity Check On Financials

Income is fairly stable - it is partly the hours I work, partly the clients I bring in, and part just how the Company I assisted start-up is doing (growing, etc.). I think the big concern is that from what you said your income has not been stable and has more than doubled over the last three years....
by JStephens
Tue Mar 27, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: House Purchase - Sanity Check On Financials
Replies: 53
Views: 5026

Re: House Purchase - Sanity Check On Financials

Income is fairly stable - it is partly the hours I work, partly the clients I bring in, and part just how the Company I assisted start-up is doing (growing, etc.). I think the big concern is that from what you said your income has not been stable and has more than doubled over the last three years....
by JStephens
Tue Mar 27, 2018 10:16 am
Forum: Personal Finance (Not Investing)
Topic: How to Endorse a Check Made out to an Estate
Replies: 16
Views: 10122

Re: How to Endorse a Check Made out to an Estate

You shouldn't have any trouble. Endorse it as written and deposit it in the joint account. The bank will probably accept it, although I wouldn't raise the question with them. Gill Good idea. I went ahead and endorsed as suggested and deposited it using my mobile phone app. Hopefully, it will go thr...
by JStephens
Sat Mar 24, 2018 10:22 am
Forum: Personal Investments
Topic: Treasury Bills vs. I-bonds vs. Intermediate-term tax-exempt muni bonds
Replies: 24
Views: 4716

Re: Treasury Bills vs. I-bonds vs. Intermediate-term tax-exempt muni bonds

I was under the impression that the reason why rates are going up is to combat the fact that inflation is going up. So it's not necessarily true that I-bonds will go down. Also, with rates going up doesn't that mean the fixed rate should increase this May?
by JStephens
Thu Mar 22, 2018 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Employee Fiduciary Update - 15 months in
Replies: 12
Views: 2165

Re: Employee Fiduciary Update - 15 months in

2, and really unforgivable in my experience - EF gave a 2nd HCE a higher contribution than all other participants other than the owner. EF didn't ask the owner how the other HCE was to be handled. I advised the owner to tell EF to give the HCE only the 3% SH contribution (NO PS contribution. This i...
by JStephens
Thu Mar 01, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: one participant 401k deduction limits
Replies: 4
Views: 358

Re: one participant 401k deduction limits

A solo-401k is just like any other 401k. You can do the $18,500 then 25% of profit. Here is vanguards calculator, and if you google "small business retirement calculators" you'll get one for each broker.

https://personal.vanguard.com/us/SbsCal ... Controller
by JStephens
Fri Feb 09, 2018 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: How does it make sense to buy a condo/house in Texas?
Replies: 97
Views: 9242

Re: Why would people buy condos/SFH in Texas?

One important thing to take into account is things get VERY sketchy in Houston street to street. For example, if you're seeing a place rent for $700 in "downtown" I bet that's actually just on the outskirts of downtown and you're actually in east Houston.
by JStephens
Sun Jan 28, 2018 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage with taxable investments
Replies: 5
Views: 815

Re: Pay off mortgage with taxable investments

I would pay off the car first if anything. I don't see any benefit of paying off the mortgage right now. Why not just slow down other investments and throw an extra $2000-$3000 at it every month?
by JStephens
Tue Jan 23, 2018 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Mango Money: 1099-INT Incorrect?
Replies: 7
Views: 765

Re: Mango Money: 1099-INT Incorrect?

seawolf21 wrote:
Tue Jan 23, 2018 11:05 am
Are we talking about a huge amount? Why not just reported with 2017 return?
It'd have to be around $25 worth of interest.
by JStephens
Mon Jan 08, 2018 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Overwhelmed with how to handle taxes on large inherited portfolio.
Replies: 24
Views: 2148

Re: Overwhelmed with how to handle taxes on large inherited portfolio.

Fidelity has a cash flow estimator where it shows how much they expect you to get in dividends each month. I'd be surprised if most brokerages don't have that.
by JStephens
Thu Jan 04, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with tax plan - 250k family in Texas
Replies: 15
Views: 1584

Re: Need help with tax plan - 250k family in Texas

Your withholding is too low. $40k income tax for that income is about right. Also the lowest number of allowances you can choose is 0, not 1.
by JStephens
Thu Jan 04, 2018 3:58 pm
Forum: Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 2752

Re: Higher net worth / lower cash flow - How to Invest

In relative terms, my perception is we spend more than the typical boglehead but less than the typical American. Our assets didn't all come through savings. We inherited almost a 1/3 of our assets from a grand parent and we do receive yearly monetary gifts. Like the realty payouts and dividends fro...
by JStephens
Thu Jan 04, 2018 3:09 pm
Forum: Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 2752

Re: Higher net worth / lower cash flow - How to Invest

Are you not getting any distributions from the realty? That seems really odd. Or are you just purposely not including it? I'm not including it as it's not guaranteed income and to be conservative in my thinking. Also a couple of them on realtyshares haven't started to pay yet as I just recently inv...
by JStephens
Thu Jan 04, 2018 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Solo 401k - Contribution Options
Replies: 7
Views: 930

Re: Fidelity Solo 401k - Contribution Options

Do you have a brokerage/cash management account? I transferred my contribution from a brokerage to the Solo 401k with a phone call. I have the same issue. So your company has a brokerage/cash management account at Fidelity? Or are you talking about your personal account? I have a personal brokerage...
by JStephens
Thu Jan 04, 2018 2:42 pm
Forum: Personal Investments
Topic: Higher net worth / lower cash flow - How to Invest
Replies: 23
Views: 2752

Re: Higher net worth / lower cash flow - How to Invest

Are you not getting any distributions from the realty? That seems really odd. Or are you just purposely not including it?
by JStephens
Tue Jan 02, 2018 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: 2017 New Spousal IRA Questions - Phaseout/tIRA/rIRA?
Replies: 3
Views: 376

Re: 2017 New Spousal IRA Questions - Phaseout/tIRA/rIRA?

How much of the gross is from the partners home business? A solo-401k for him/her could knock down your MAGI if it pulls in a nice amount of income.
by JStephens
Sun Dec 31, 2017 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Solo 401k - Contribution Options
Replies: 7
Views: 930

Re: Fidelity Solo 401k - Contribution Options

Do you have a brokerage/cash management account? I transferred my contribution from a brokerage to the Solo 401k with a phone call. I have the same issue. So your company has a brokerage/cash management account at Fidelity? Or are you talking about your personal account? I have a personal brokerage...
by JStephens
Sun Dec 31, 2017 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Solo 401k - Contribution Options
Replies: 7
Views: 930

Re: Fidelity Solo 401k - Contribution Options

Do you have a brokerage/cash management account? I transferred my contribution from a brokerage to the Solo 401k with a phone call.
by JStephens
Mon Dec 18, 2017 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Can/should LLC owner take zero salary?
Replies: 5
Views: 1004

Re: Can/should LLC owner take zero salary?

As long as there's no distribution, you're fine taking no salary. Be careful that there weren't any distributions of any kind though.
by JStephens
Mon Dec 18, 2017 3:19 pm
Forum: Personal Consumer Issues
Topic: New job offer - background check
Replies: 140
Views: 9487

Re: New job offer - background check

I believe in every state, you have to sign a form saying you consent to a background check. It's not that uncommon to not be checked as a CPA, since you can't have a license with a felony. I would say any misdemeanor over 5 years old almost nobody will care about. I've dealt with employee files and ...
by JStephens
Sun Dec 10, 2017 12:44 am
Forum: Personal Finance (Not Investing)
Topic: Experiences with Quicken to GNUCash Conversion.
Replies: 25
Views: 4272

Re: Experiences with Quicken to GNUCash Conversion.

I've been using it for close to 2 years now. I didn't have any detailed records before that, so no conversion was necessary. For investments, I just have a "Change in investments" account under equity that I throw the monthly changes for each investment account. I looked into the stock tracking part...
by JStephens
Sun Dec 10, 2017 12:34 am
Forum: Personal Finance (Not Investing)
Topic: How can someone who earns 500k/yr in w2 be in 25% tax bracket?
Replies: 17
Views: 3164

Re: How can someone who earns 500k/yr in w2 be in 25% tax bracket?

My best guess is he only works 1-2 days a week and pulls in around $150k as a physician, and his rental properties throw off no taxable income. More likely, he doesn't know what he's talking about.
by JStephens
Thu Dec 07, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Is a solo-401k worth it?
Replies: 13
Views: 2920

Re: Is a solo-401k worth it?

I setup a solo 401k through Fidelity 2 years ago. You have to get a EIN for your solo 401k itself, since it's technically a 401k plan. You don't need an EIN for your sole proprietorship. You don't need a 1099, but you will have to say where the money is coming from and the IRS will send a letter to ...
by JStephens
Sat May 16, 2015 12:03 pm
Forum: Personal Consumer Issues
Topic: PDF file locking up computer
Replies: 20
Views: 3422

Re: PDF file locking up computer

I've had this happen before, and what it was doing was opening up Adobe and then asking me to save the document automatically. The problem was, the "do you want to save" dialog box was opened up behind all the windows giving the appearance it was locked.
by JStephens
Sun Feb 16, 2014 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Do you balance your checking account?
Replies: 114
Views: 8069

Re: Do you balance your checking account?

I somewhat do. I compare my projected cash flow for the month with what actually happened. I mainly do it on the 10th after all the credit card payments have been made.
by JStephens
Sun Aug 04, 2013 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Health insurance for my daughter (college)
Replies: 13
Views: 1064

Re: Health insurance for my daughter (college)

I'm a somewhat recent grad, and my school had a program for the semester (summer as well if you're coming back in the Fall) that was like $200. I think it was a $5000 limit, and you could go to the on campus doctor for free and get the generic drugs through them.
by JStephens
Sun May 05, 2013 11:02 pm
Forum: Personal Investments
Topic: Should I sell my 2 rental properties?
Replies: 20
Views: 2961

Re: Should I sell my 2 rental properties?

That's a pretty thin margin on both rentals. If one is vacant for just a month it wipes out any profit on either rental for more than 6 months. I would ditch them.
by JStephens
Wed Mar 06, 2013 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: What credit/charge cards do you have in your wallet?
Replies: 114
Views: 70111

Re: What credit/charge cards do you have in your wallet?

Penfed Rewards card (the points one) for gas/groceries/when Amex isn't accepted
Fidelity 2% Amex when I'm not doing a sign up bonus

I only tend to charge 500-700 a month so I try to basically have a sign up bonus going at all times. This year so far has been surprisingly good.
by JStephens
Wed Mar 06, 2013 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: 401(k) - What does the ideal match and vesting look like?
Replies: 11
Views: 3018

Re: 401(k) - What does the ideal match and vesting look like

stan_the_man wrote: FWIW -- Low plan expenses are more important to me than if there is a match at all.
Why? Nearly any match would offset nearly any of the higher fund expenses.