Search found 52 matches

by Seekay
Wed Jan 04, 2017 8:51 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp payroll co for single owner/employee?
Replies: 39
Views: 6678

Re: S Corp payroll co for single owner/employee?

I don't have an answer for you except to say that I have an SCorp too, and decided I was too cheap (errr frugal) to pay for Paychex and the like.

1. I pay for health insurance from the business and at the end of the year, my CPA adds that to my "Salary" item within Quickbooks and enters it as a on the 1040 so that I get the deduction

2. I make HSA contributions 2x a year directly from my net pay and take a deduction for it

3. My CPA's assistant does set up my payroll taxes when I email them the months in which I take payroll (while trying to balance payroll vs net income). However, apart from whatever is needed at tax time, he really doesn't do anything for payroll as far as my HSA contributions or health insurance is concerned.
by Seekay
Thu Nov 17, 2016 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Online Banking Recommendations
Replies: 18
Views: 3699

Re: Online Banking Recommendations

I had Amex Personal Savings and Cap One 360 for savings, consolidated at Ally just a few weeks ago and the posts here helped me make that decision.
Took a few clicks to open a second CD "account" with confirmation a couple of days later.

I use the Fidelity Cash Management account for my checking (along with their 2% cash back card) - works like a charm i.e. no problems with Paypal, ATM reimbursements, chip debit etc.
by Seekay
Wed Sep 07, 2016 12:48 pm
Forum: Personal Consumer Issues
Topic: Positive experiment with Purse.io for 15-25% off Amazon.com
Replies: 68
Views: 24665

Re: Positive experiment with Purse.io for 15-25% off Amazon.com

I've placed seven orders with purse. The typical discount I've received, net after fees, is about 25%. So far I'm very happy with this service on items that I can wait a few extra days on. - Half my orders have been cancelled due to problems on the buyer end, but then get picked up by another buyer. - One order has never shipped, and I have a support ticket open on it. Purse will likely cancel it and another buyer will pick it up. - I fund my Purse wallet with Coinbase, and one funding transaction was "stuck". I had to catch it and open a case, and it was quickly resolved. - I've made about 7% in two weeks, simply from the value of Bitcoin appreciating. :D If you're technically savvy, this is compelling. Most people would probabl...
by Seekay
Fri Aug 12, 2016 10:34 pm
Forum: Personal Investments
Topic: To sell or not to sell (investment property abroad)
Replies: 5
Views: 551

Re: To sell or not to sell (investment property abroad)

Look at the Dollar to Rupee conversion rate from 1984... If memory serves me correctly it's gone from Rs.12 to Rs.70. Do you think this trend will reverse or do you think it will go to Rs.100? If it goes to Rs.100 and your apartment appreciates 50%, in dollar terms you're essentially flat. No idea on the trend, but yeah currency risk is a factor to consider. Also, how are you going to convert your rupees to dollars? The rupee isn't fully convertible. Right now you may be able convert $137k into dollars, but in future this might not be an option. This is thankfully easier nowadays - once you fill out all the correct paperwork, up to $1 million can be repatriated/year Also, I don't have any direct experience with capital-gains saving infrast...
by Seekay
Fri Aug 12, 2016 10:03 pm
Forum: Personal Investments
Topic: To sell or not to sell (investment property abroad)
Replies: 5
Views: 551

Re: To sell or not to sell (investment property abroad)

Watty wrote:If you had cash and didn't own it then would you buy it today?

That is really just about the same question.
No, I wouldn't - but primarily because I've simplified my investing life a lot in the last 5 years, and knowing what I know now, I wouldn't get international property. The conundrum is that once I'm in, is it worth plodding through another 5 to get the return I anticipated in the first place? :)
by Seekay
Fri Aug 12, 2016 6:19 pm
Forum: Personal Investments
Topic: To sell or not to sell (investment property abroad)
Replies: 5
Views: 551

To sell or not to sell (investment property abroad)

There is an apartment in the outskirts of Mumbai, India that was purchased for investment in 2010. There is a new airport that will begin construction any day now - it was supposed to begin 5 yrs ago, then got clogged up in environmental clearances and what not, and may take another 2-5 yrs to do so. Once the construction formally begins, and again when it's completed, property prices are expected to increase "dramatically". The question I'm struggling to answer is if I should consider selling the apartment now or hold on to it for another 3/5/7 years? Some numbers: - "All-in" cost of purchase = $77K approx - Current market value = $137K approx Options: 1. Sell the apartment in the next few months, and get the principal ...
by Seekay
Tue Jul 12, 2016 5:45 pm
Forum: Personal Consumer Issues
Topic: Positive experiment with Purse.io for 15-25% off Amazon.com
Replies: 68
Views: 24665

Re: Positive experiment with Purse.io for 15-25% off Amazon.com

madbrain wrote:Did you succeed ? I'm unable to add a credit card to Coinbase. Emailed their support about it. I haven't tried creating a purse.io account because of this. Might try some of the other bitcoin wallets.

3.75% fee for using a credit card on Coinbase is steep, in any case.
Nope - I didn't want to give coinbase my bank credentials just yet so opted for the 'deposit verification' method which takes 2-3 days. 3.75% is too steep, prefer to avoid if at all possible.
by Seekay
Sat Jul 09, 2016 2:45 pm
Forum: Personal Consumer Issues
Topic: Positive experiment with Purse.io for 15-25% off Amazon.com
Replies: 68
Views: 24665

Re: Positive experiment with Purse.io for 15-25% off Amazon.com

Thanks Jonathan - I just signed up for Purse+Coinbase and will update on how it goes. I buy a ton of stuff on Amazon, and a 15-30% discount would come in handy!
by Seekay
Thu Jul 07, 2016 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Best full featured online checking?
Replies: 40
Views: 7717

Re: Best full featured online checking?

Checking requirements: - excellent online bill pay (very important) - support for depositing checks up to $20k via mobile - excellent direct deposit and free atm withdrawals nationwide(may move from west to east coast someday) - good perks and interest rate (will average $20-50k balance ) - minimal fees for ach transfers, bill pay, lots of checks, and the occasional cashiers checks or wire transfer - good atm network, minimal fees when traveling - international for a few weeks every few years - check images and integration with YNAB(hate quicken) - great security I use the Fidelity® Cash Management Account along with a linked brokerage account. Deposit checks via mobile, ATM fees refunded, incoming ACH and wires are free etc. I put the ext...
by Seekay
Mon Feb 22, 2016 11:14 pm
Forum: Personal Consumer Issues
Topic: Bad customer experience or am I being unrealistic?
Replies: 30
Views: 5952

Re: Bad customer experience or am I being unrealistic?

runner9 wrote:Why can't you just return the Costco monitor?
This. You got the monitor you originally wanted, so just return the one from Costco. You may be creating a problem when there isn't one...
by Seekay
Tue Dec 08, 2015 7:11 pm
Forum: Personal Finance (Not Investing)
Topic: S corp solo 401k
Replies: 5
Views: 755

Re: S corp solo 401k

farmer wrote:if i have gross wages w-2 of 30k paid to myself and want to defer the max 18k plus 6k (I'm 53) and add in the 25% profit share of 7.5k with the grand total is: 31,500. OR is the grand total contribution limited by the max gross w-2 wages paid- 30k?
the 25% profit share is an employer match and not part of the w-2 wages. As long as you have revenue to cover that, you should be fine.
farmer wrote:AND solo 401k have 2 parts: deferred salary and profit sharing RATHER THAN 3 parts: deferred salary, profit share AND company match- correct?
Correct - simply put, profit share = employer match
by Seekay
Wed Sep 16, 2015 3:50 pm
Forum: Investing - Theory, News & General
Topic: Personal Capital White Paper: Brokerage Fees
Replies: 30
Views: 3613

Re: Personal Capital White Paper: Brokerage Fees

livesoft wrote: Clearly, Personal Capital does not want to compare themselves in their white paper to anyone who charges a lower advisory fee than they do. And that includes do-it-yourself investors.
My thoughts exactly. I felt the last few slides were a shameless plug, and their pitch was implicit enough without them.
by Seekay
Thu Jul 09, 2015 5:00 pm
Forum: Personal Consumer Issues
Topic: New car vs. "pre-owned certified" (both somewhat frequently)
Replies: 28
Views: 3547

Re: New car vs. "pre-owned certified" (both somewhat frequently)

I was in a similar position about 15 days ago, with the added motivation that I wouldn't be able to renew the car registration on 07/20 without spending min $2K on it (and another 3K to be done before the new year). I went the CPO route, and took the approach discussed in other threads on BH. I ended up emailing about 20 dealers in a 75 mi radius. Of these 4 had the car in the only color the wife didn't want, and another 6 didn't have navigation (which the wife did want). Of the remaining 10, only 2 were willing to even negotiate. The others just pointed to the 'internet sales price' as the final price and refused to budge for days. So yes, I had a similar experience in that the out-the-door prices between new cars and CPOs were not off by ...
by Seekay
Wed Jun 10, 2015 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: California Homeowners’ Property Tax Exemption
Replies: 8
Views: 2145

Re: California Homeowners’ Property Tax Exemption

I am quoting this from another source: "One possible problem is if you have a homeowner's exemption on your property taxes. This may be disallowed if the property in the name of a trust. You would need to check with your local taxing authority". My property is in my personal trust and I will have to see how that works out. http://www.boe.ca.gov/proptaxes/exempt.htm#8 -> under the second link i.e. "Homeowners' Exemption Annotations", the pdf mentions 505.0040 Estates, Trusts, Power of Attorney, Guardian. ... 3. The exemption is allowable to an occupant who is a trustor under a revocable "living trust." 4. The exemption is allowable to an occupant who is a trustor under an irrevocable trust. 5. The exemption is ...
by Seekay
Wed Jun 10, 2015 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: California Homeowners’ Property Tax Exemption
Replies: 8
Views: 2145

Re: California Homeowners’ Property Tax Exemption

Thanks - I did not know of this exemption until now! The form looks pretty simple, and it seems the major criteria is that it needs to be an owner-occupied / principal place of residence. Or are there other qualification criteria that I missed?
by Seekay
Wed Feb 25, 2015 6:03 pm
Forum: Personal Consumer Issues
Topic: Anyone have one of those standing desks?
Replies: 45
Views: 8462

Re: Anyone have one of those standing desks?

I considered this for $22: http://iamnotaprogrammer.com/Ikea-Stand ... llars.html
(Sorry, some of the images seem broken but you can figure out what's needed from the 'recipe' section and the images that are at the end of the article.

But ended up getting this because I wanted to use two widescreen monitors: http://www.ergodesktop.com/content/kangaroo-elite
Pricey, but still cheaper than the entire desk. This one sits on top of my desk and works great (I can swivel each monitor independently etc.)
by Seekay
Thu Feb 19, 2015 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: A House Deal: To Move Or Not To Move
Replies: 14
Views: 1562

Re: A House Deal: To Move Or Not To Move

Welcome to the board!
I'm sorry I don't have much to add, posting primarily so that your post is bumped up.
It does look like you've tried every which way to make this work, but there wasn't a way that could keep both sides happy.
I wouldn't consider this 'giving up', you considered all ramifications and the financial aspect wasn't working out, so you're not taking your friend up on her offer.
by Seekay
Thu Feb 19, 2015 10:02 pm
Forum: Personal Investments
Topic: Just started thinking about finances - Planning ahead advice
Replies: 23
Views: 1991

Re: Just started thinking about finances - Planning ahead ad

newstart wrote: Ok .. I see so many posts here that show the importance of taking advantage of a tax savings account like a TIRA.. hence i wanted to know if my first option is still better than opening the TIRA
Yes, those are relevant after all the high-interest credit cards AND then having an emergency fund. As others have suggested, add the cash you were putting towards the CC payments and build up your EF further until you have 4-6 month's worth. This will help a lot with stability and tackling unforeseen expenses, greatly reducing any potential need to tap into Trad or Roth IRAs.
by Seekay
Tue Feb 17, 2015 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: How best to use gifted 25k. . .
Replies: 25
Views: 5931

Re: How best to use gifted 25k. . .

Personally, I would not put the $20K towards the mortgage as $100/mo isn't really that much "room to breathe".
Not sure if your wife is currently working, and if yes, she would take a few months off work when the kid is born which would naturally impact your take-home income.
Either way, I would prefer just putting the $25K in taxable and letting that grow - yes you could put split that up in taxable + 'car fund' if you like. It will give you more 'room to breathe' should you ever need it, and you'll get a better return on your money vs paying off some of the mortgage.
by Seekay
Wed Feb 04, 2015 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: Annual costs for a $1M+ house
Replies: 17
Views: 4139

Re: Running costs for a $1M+ house

My rough estimate is: Mortgage (30yr @ 4%): ~$60k (about $20k towards principal, $40k towards interest) Property tax: $12k Insurance: ~$3k (not sure how accurate that is) Repairs: $10k (that seems high if it's a small house in good shape) Utilities: $2k (would save on heat and a/c being in a mild climate) In the San Diego area, a $800-900K house runs you insurance around $1000/yr, so likely lower than $3K for a $1.2MM one. On the flip side, I've heard that some of the homes are deemed too close to the water and are 'uninsurable'. I understand these folks have enough net worth to self-insure. Of course, this is just hearsay so take it for what its worth. Repairs also not likely to be $10K/yr. Yes stuff does break down, but average should be...
by Seekay
Wed Feb 04, 2015 7:45 pm
Forum: Investing - Theory, News & General
Topic: Milestone >$100k in my retirement investment portfolio
Replies: 30
Views: 4790

Re: Milestone >$100k in my retirement investment portfolio

Congratulations - $100k in 4yrs is really awesome! The same in Home equity makes it doubly so! :sharebeer
by Seekay
Wed Feb 04, 2015 11:58 am
Forum: Investing - Theory, News & General
Topic: Is there a Fido equivalent of LifeStrategy Conservative Grow
Replies: 15
Views: 1856

Re: Is there a Fido equivalent of LifeStrategy Conservative

^ Possibly, but that mental accounting is helpful to me. Its also easier for my wife, as she knows where to pull money from first, should anything happen to me. (Let's just say she prefers to leave the finances to me but is 'aware' of what/where/how much etc).
I prefer to think that the value I gained is that I went through the exercise and learnt something in the process, even though the EF may be only a small % of my net worth.
That being said, I appreciate your comments - especially because you think its not worth the effort.
by Seekay
Tue Feb 03, 2015 7:21 pm
Forum: Investing - Theory, News & General
Topic: Is there a Fido equivalent of LifeStrategy Conservative Grow
Replies: 15
Views: 1856

Re: Is there a Fido equivalent of LifeStrategy Conservative

Rodc wrote:It is such a small amount of money does it really make sense to make life complicated? What, really, is the magnitude of any possible gain?
For the same reason that people chase high yield savings accounts. Personally, having an extra fund/etf vs an online savings account is not complicated, but 4+ ETFs to do it would be.
by Seekay
Tue Feb 03, 2015 3:40 pm
Forum: Investing - Theory, News & General
Topic: Is there a Fido equivalent of LifeStrategy Conservative Grow
Replies: 15
Views: 1856

Re: Is there a Fido equivalent of LifeStrategy Conservative

Thanks CyberBob and PoeticalDeportment, will check those out!
by Seekay
Tue Feb 03, 2015 11:39 am
Forum: Investing - Theory, News & General
Topic: Is there a Fido equivalent of LifeStrategy Conservative Grow
Replies: 15
Views: 1856

Re: Is there a Fido equivalent of LifeStrategy Conservative

CyberBob wrote:Perhaps Fidelity Asset Manager 40%.
They also have a 20%, 30%, etc.
Thanks - the ER does become an issue, as HurdyGurdy pointed out. Funnily enough, when I was using the Fido tool, and selected the 'lowest' expense ratio on the slider, it gave me funds with ER > 1% :o
jjaster7 wrote:40% ITOT (0.07% ER) and 60% AGG (0.08% ER), rebalance as needed
These doesn't include international stock/bond but I get the drift. I'm not sure I want to deal with the complexity of juggling 4 ETFs just to manage my EF.

Maybe I'm asking for too much :), and it'll end up being a choice between a higher ER vs more complexity vs going back to doing my AA outside Personal Capital.
by Seekay
Tue Feb 03, 2015 11:02 am
Forum: Investing - Theory, News & General
Topic: Is there a Fido equivalent of LifeStrategy Conservative Grow
Replies: 15
Views: 1856

Is there a Fido equivalent of LifeStrategy Conservative Grow

Apologies if this has been asked earlier, I searched but didn't find a relevant post. Question: Is there a Fido equivalent of the Vanguard LifeStrategy Conservative Growth Fund (VSCGX)? Background: I found this article by Betterment on another Boglehead thread, and the advice resonated with me. I plan to leave 2 months worth of Emergency fund in the online savings and move 4 months worth into VSCGX or its equivalent. I have 99% of my portfolio at Vanguard, and this is pulled into Personal Capital which is what I use to monitor my AA. If I purchase VSCGX at Vanguard, it'll get pulled in to Personal Capital. I'd prefer to avoid that since I consider this as part of my EF and not my AA - having a Fido equivalent would take care of that 'concer...
by Seekay
Mon Feb 02, 2015 2:01 pm
Forum: Personal Consumer Issues
Topic: Health Insurance Not Activated
Replies: 8
Views: 1646

Re: Health Insurance Not Activated

I apologize for whining on this message board so much. Feel free to skip another frustrating post. - Long story short my health insurance is still not activated. - I called them multiple times today. The root of the issue is that they applied my payment to my 2014 policy not to my 2015 policy. So my 2014 policy had a positive balance, and my 2015 policy went unpaid. Because the policy was unpaid they never activated it. - Even though my policy was not activated for January (I cancelled a doctor's appointment) yet I'm still having to pay for the month of January. I ended up paying for February on the phone as well. Sorry to hear you had to pay for Jan as well - however not surprising as the policy is for the entire year. Also, I believe a p...
by Seekay
Sat Jan 31, 2015 5:51 pm
Forum: Personal Consumer Issues
Topic: What age did you become financially independent of parents?
Replies: 68
Views: 9548

Re: At what age did you become financially independent?

I would suggest changing the title to "...financially independent (from your parents)? "
I answered the poll before I read the first post, and I read it as 'financial independence' - and I'm not there yet, so answered "I'm dependent" :oops:
Come to think of it, that "I'm dependent" did sound a little weird...
I suspect the folks who answered in the 40+ range may have misunderstood the question as well...
by Seekay
Fri Jan 30, 2015 6:46 pm
Forum: Personal Investments
Topic: Tax-advantaged Strategy on 25k Investment
Replies: 9
Views: 1270

Re: Tax-advantaged Strategy on 25k Investment

You might like this approach then: https://www.betterment.com/resources/personal-finance/safety-net-funds-why-traditional-advice-is-wrong/ I'm not saying invest at Betterment, just the approach of having 30% more in a balanced fund. So if you decide your emergency fund needs to be $12k, put $16k into a 40% stock / 60% bonds fund like Vanguard LifeStrategy Conservative Growth Fund. The idea is that the extra $4k should allow you to still have enough money even in a serious market drop. But over the long term, this helps your emergency fund keep up with inflation. +1 - thanks for that link. Not to hijack the thread, but I've been struggling with ideas on how to keep 6 mos EF, but do it in a non-'ultra'-conservative way. This may be a good st...
by Seekay
Sat Dec 27, 2014 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Transfer money from India to US
Replies: 3
Views: 1491

Re: Transfer money from India to US

4: What is the best way for us to get that money in USA? Can that money be wired to us? Will it have any tax implications? Aside from the tax implications, - Depending on the amount, you can each get up to $10K when you visit India next. However this is likely not the answer you're looking for. - Yes, it can be wired etc, but the bank you do it from will require you to fill out a bunch of forms (Form 15CA, 15CB etc), one of which is a certificate from a chartered accountant providing proof of 'source of funds'. There's a bunch of valid reasons for transferring the funds to the US e.g. family maintenance, education, purchasing property etc. Your best bet is to ask your in-laws to find out the details at their local bank. The regulations are...
by Seekay
Tue Dec 23, 2014 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: POLL: What are your monthly food expenses?
Replies: 67
Views: 8200

Re: POLL: What are your monthly food expenses?

$250 a person, including eating out.
by Seekay
Thu Dec 18, 2014 7:13 pm
Forum: Personal Consumer Issues
Topic: Yahoo mail [problems]
Replies: 29
Views: 3236

Re: Yahoo mail

I have tried to switch out of Yahoo! but my friends still continue sending e-mails to me there. I am getting e-mails from my kids' Science Olympiad coach, even AFTER I expressly informed her to use my gmail account. I am part of a cultural organization/group. Now these are internet/tech savvy folks - I have repeatedly requested them to remove my yahoo e-mail address and put my gmail address instead ... to deaf ears. I have offered to do so myself, but am not getting the password. So ... bottom line, changing an e-mail address is out of one's control. Now, I check TWO e-mail addresses. Those who e-mail me at Yahoo don't hear back from me (or don't hear back from me in time). But that does not appear to be impacting the Yahoos who mail me th...
by Seekay
Sun Dec 14, 2014 6:07 pm
Forum: Personal Consumer Issues
Topic: Best Boglehead Unlocked Phones
Replies: 9
Views: 2154

Re: Best Boglehead Unlocked Phones

g$$ wrote:I've got a Oneplus One and I would highly recommend it. The phone has a premium feel and it's about $300 less than a nexus 6.
+1. Got one for me, and then replace the wife's a month later. I moved from the iPhone so it was a bug jump to Android but loving the customization options and feel so far.
by Seekay
Sun Dec 14, 2014 6:02 pm
Forum: Personal Investments
Topic: 529 advice for California based family.
Replies: 15
Views: 2984

Re: 529 advice for California based family.

epilnk wrote:We live in CA. I'm happy with the NV plan, and I prefer the simplicity of having everything at VG.
...
It isn't important for me to know who has the best plan as of today as long as I'm confident our plan was a good choice, and the VG plan is never going to be a bad choice.
This. Started with UPromise, moved it over to VG later to consolidate. Didn't go for the UTMA for reasons others have mentioned above.
by Seekay
Tue Sep 23, 2014 11:16 pm
Forum: Forum Issues and Administration
Topic: Bogleheads.org android / iphone app
Replies: 23
Views: 5605

Re: Bogleheads.org android / iphone app

Peculiar_Investor wrote:Sorry to pour cold water here but phpBB 3.1 is still in development and hasn't been released.
Thanks for digging in and catching that!
by Seekay
Tue Sep 23, 2014 9:19 pm
Forum: Forum Issues and Administration
Topic: Bogleheads.org android / iphone app
Replies: 23
Views: 5605

Re: Bogleheads.org android / iphone app

If the idea is to just make it easier to read on smart phones, then an easier (and much cheaper) approach would be to use a " responsive /adaptive" theme. In a nutshell, it would be the same forum software that would adapt to the screen size being used. I may be wrong, but it looks like BH is using phpBB with the "prosilver" theme, and it looks like prosilver was made responsive about 11 months ago: https://blog.phpbb.com/2013/10/20/responsive-design/ There are other 3rd party (paid, but inexpensive) responsive themes as well: http://themeforest.net/item/bboots-html5css3-fully-responsive-phpbb3-theme/6043477 (I just picked this one at random, have no affiliation with the theme author) However, updating a theme for a high...
by Seekay
Tue Sep 23, 2014 8:47 pm
Forum: Forum Issues and Administration
Topic: operating cost of this forum
Replies: 41
Views: 9788

Re: operating cost of this forum

nisiprius wrote:I use the Amazon Smile program and specify the "John C. Bogle Center for Financial Literacy" as the recipient.
From what I understand, the Amazon Smile program gives only 0.5% to the charity in question, whereas using the affiliate link gives 6-8%.
Also, it seems one could use the Amazon Smile page, but then manually append the "&tag=bogleheads.org-20" to the url before actually checking out to actually give to both. However, this does require the extra manual step which is easy to forget.

My daughter's school district has both set up - they'd been pushing the Amazon Smile program for the last year, and switched tactics yesterday.
by Seekay
Tue Jan 29, 2013 6:10 pm
Forum: Personal Consumer Issues
Topic: Do I need a passport for Mexico
Replies: 38
Views: 7551

Re: Do I need a passport for Mexico

Assuming you're a US Citizen :), best place for answers: http://travel.state.gov/travel/cis_pa_t ... quirements
Since March 1, 2010, all U.S. citizens – including children – have been required to present a valid passport or passport card for travel into Mexico.
Regarding shots etc, your doc would be the best person to check with... and google (like livesoft suggested)
by Seekay
Mon Jan 14, 2013 8:41 pm
Forum: Non-US Investing
Topic: Tax question regarding Indian Fixed Deposits (NRO account)
Replies: 22
Views: 5418

Re: Tax question regarding Indian Fixed Deposits (NRO accoun

Assuming one is filing a US tax return, the IRS doesn't care that the money came from country A. Once it's in a US bank account and earning interest, you get a 1099 and pay taxes on that interest.

Naturally, the reverse is also true i.e. the other country's govt cares only about the taxes applicable on that interest one made while the money is that country.

Or am I over-simplifying it? :P
by Seekay
Mon Jan 14, 2013 2:57 pm
Forum: Non-US Investing
Topic: Tax question regarding Indian Fixed Deposits (NRO account)
Replies: 22
Views: 5418

Re: Tax question regarding Indian Fixed Deposits (NRO accoun

Found it - you were right...

From http://www.irs.gov/pub/irs-pdf/p525.pdf, page 30:
Foreign currency transactions. If you have a gain on a personal foreign currency transaction because of changes in exchange rates, you do not have to include that gain in your income unless it is more than $200. If the gain is more than $200, report it as a capital gain.
by Seekay
Mon Jan 14, 2013 2:53 pm
Forum: Non-US Investing
Topic: Tax question regarding Indian Fixed Deposits (NRO account)
Replies: 22
Views: 5418

Re: Tax question regarding Indian Fixed Deposits (NRO accoun

From what I understand the answer is 'no', since you're paying tax on the CD interest. If you were trading in forex, and had gains/losses, then 'yes'.

But its very possible that I'm wrong - so best option is to check with your CPA. I tried looking for the relevant IRS info on this, but haven't found anything (yet - but there would be one).
by Seekay
Mon Jan 14, 2013 8:37 am
Forum: Non-US Investing
Topic: Tax question regarding Indian Fixed Deposits (NRO account)
Replies: 22
Views: 5418

Re: Tax question regarding Indian Fixed Deposits (NRO accoun

Not really - since it's just like a CD. So you pay tax on the interest.
by Seekay
Sun Jan 13, 2013 11:47 pm
Forum: Non-US Investing
Topic: Tax question regarding Indian Fixed Deposits (NRO account)
Replies: 22
Views: 5418

Re: Tax question regarding Indian Fixed Deposits (NRO accoun

You have currency exchange losses only when you convert it back into US $ :) Until then, enjoy the 8-9% interest rates and don't worry about it. Since you put it in a fixed deposit, I'm assuming you don't need the money soon. When the rate goes back up, or when you need the money - whichever is sooner - that's when you look at the exchange rate (and worry or celebrate :))
by Seekay
Sun Jan 13, 2013 11:27 pm
Forum: Non-US Investing
Topic: Tax question regarding Indian Fixed Deposits (NRO account)
Replies: 22
Views: 5418

Re: Tax question regarding Indian Fixed Deposits (NRO accoun

Not sure - I know I paid in INR with a direct debit 3-4 months ago (I filed late), so it may have changed since then.

And the 26AS is a credit statement - which means its not enough. If you want to claim tax as already being paid, you need to file an Indian tax return.
Also keep in mind that tax year in India is from Apr 1-Mar 31, so the 26AS reflects the same. Afaik, you need to look at your bank statements and calculate the actual interest from Jan - Dec and show that amount. Again, as rr2 mentioned, consulting a CPA might be better. There are many that deal with both India-US taxes.
by Seekay
Sun Jan 13, 2013 6:45 pm
Forum: Non-US Investing
Topic: Tax question regarding Indian Fixed Deposits (NRO account)
Replies: 22
Views: 5418

Re: Tax question regarding Indian Fixed Deposits (NRO accoun

Based on the 26AS Tax Credit Statement which is generated based on PAN number for the TDS deducted, I will be taking the credit while filing US tax. See http://www.irs.gov/publications/p514/ar02.html#en_US_publink1000224404 More specifically: Foreign tax refund. You cannot take a foreign tax credit for income taxes paid to a foreign country if it is reasonably certain the amount would be refunded, credited, rebated, abated, or forgiven if you made a claim . Emphasis mine. I take this to mean that it doesn't matter if you file in India or not, but if you could file and potentially get a refund, you can't use that as a credit in your US tax return. Also, you can use an online service like http://www.taxsmile.com (similar to TurboTax to some ...
by Seekay
Sun Jan 13, 2013 6:04 pm
Forum: Non-US Investing
Topic: Tax question regarding Indian Fixed Deposits (NRO account)
Replies: 22
Views: 5418

Re: Tax question regarding Indian Fixed Deposits (NRO accoun

I'm not sure I understand your question i.e. "get the TDS"? But here's how it works: 1. Your bank in India deducts tax at source (TDS) for your Non-Resident Ordinary (NRO) account - usually at 30% of interest paid. 2. Depending on the total amount of interest income, you can file a tax return in India and request a refund of some or all of the amount that was deducted. 3. Assuming you are a US resident for tax purposes, you are required to report that interest you earned in your India account on your US tax return. 4. However, due to #2 (i.e. you can file for, and get a refund from the Indian tax authorities), the IRS does not count any TDS amount as valid proof that tax was actually paid . Hence, you pay taxes on the entire inter...
by Seekay
Sun Jan 13, 2013 12:19 am
Forum: Personal Finance (Not Investing)
Topic: $974 for $1100 contribution to a 529
Replies: 13
Views: 3179

Re: $974 for $1100 contribution to a 529

Here's the link with more details about the party offer: http://www.gradsave.com/savingsexpert/birthday.html
If you reach $1,000 in the 60 day window we'll give you $100 to use towards your college savings or to pay for your party.
by Seekay
Fri Jan 11, 2013 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: One-stop shop to compare home/auto insurance?
Replies: 9
Views: 1735

Re: One-stop shop to compare home/auto insurance?

Dr. Gaius Baltar wrote: Auto: 66% of Geico rates
Home: 47% of Travelers rates
Umbrella: 123% of Geico rates
These are relative to what you would pay at the same 'reduced' level of coverage with Geico/Travelers, correct (hence an apples-apples comparison) ?
by Seekay
Thu Jan 10, 2013 12:51 pm
Forum: Personal Investments
Topic: Roll Individual 401(K) over to IRA?
Replies: 2
Views: 821

Re: Roll Individual 401(K) over to IRA?

That's actually a very good point...
I ran into the same problem a couple years ago, but luckily the I401K was with Fido then - so was able to roll the VG Trad IRA into the Fido I401K and then transfer the entire account over to VG.

Backdoor Roths are likely in the future, so this does throw a spanner in the works

Thanks!
Chandan