Search found 761 matches

by jacoavlu
Fri Dec 06, 2019 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: High Yield Business Savings Account for S-Corp
Replies: 5
Views: 443

Re: High Yield Business Savings Account for S-Corp

My S Corp uses Vanguard. We don’t transact much. We’ve also used treasury direct in the past to buy short term T bills.
by jacoavlu
Fri Dec 06, 2019 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Megabackdoor Roth - TFB worksheet question and all in Roth?
Replies: 16
Views: 1055

Re: Megabackdoor Roth - TFB worksheet question and all in Roth?

you probably have a better understanding of the 199a than I do. I don’t have advice there.

What’s your marginal tax rate? If you could just do max profit sharing of $56k that could be a significant tax savings for you.
by jacoavlu
Fri Dec 06, 2019 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Megabackdoor Roth - TFB worksheet question and all in Roth?
Replies: 16
Views: 1055

Re: Megabackdoor Roth - TFB worksheet question and all in Roth?

Why the S Corp?

How much income in the Corp and how much salary is Corp paying you?
by jacoavlu
Fri Dec 06, 2019 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Megabackdoor Roth - TFB worksheet question and all in Roth?
Replies: 16
Views: 1055

Re: Megabackdoor Roth - TFB worksheet question and all in Roth?

first question, why use the incorporated tab? Presume you have an S corp structure for the income you're talking about with this solo 401k? Is your W2 income from your other job over the social security wage base? If so, having an S corp for a side business results in payment of social security taxe...
by jacoavlu
Thu Dec 05, 2019 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?
Replies: 147
Views: 8258

Re: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?

the mega backdoor Roth “creates” additional Roth space that you otherwise don’t have. For me, spending $700 upfront and $125 per year to create $20k or so of additional Roth space per year is a no brainer
by jacoavlu
Wed Nov 13, 2019 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax 2019 on Amazon
Replies: 213
Views: 19358

Re: Turbotax 2019 on Amazon

Forms view is one feature that I don’t think online has.

TFB has a good summary

https://thefinancebuff.com/tax-software ... sktop.html
by jacoavlu
Sat Nov 09, 2019 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: shocking hospital fee estimate
Replies: 45
Views: 4070

Re: shocking hospital fee estimate

https://www.mdsave.com/

if you want to pay a flat fee, you can get most anything done
by jacoavlu
Sun Nov 03, 2019 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?
Replies: 147
Views: 8258

Re: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?

simas wrote:
Sun Nov 03, 2019 4:26 pm
each participant has 4 sub accounts...
- employer after tax non-Roth (these are rolling over into Roth IRA as part of MBR)
assume this is a typo?

employER contributions are never after tax

the after tax contributions as in a mega backdoor Roth step 1 are employEE contributions
by jacoavlu
Wed Oct 23, 2019 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?
Replies: 147
Views: 8258

Re: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?

EnjoyIt wrote:
Mon Oct 21, 2019 10:06 pm

I understand that you do your own taxes. Did you find any difficulty documenting the after-tax contribution and the Roth conversion?

I think I smell a really good blog post. Wink wink :)
After tax contributions are not reported anywhere on a personal or S Corp tax return.
by jacoavlu
Sun Oct 20, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?
Replies: 147
Views: 8258

Re: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?

Along the lines of two 401ks. I would add, avoiding Controlled Group and Affiliated Service Group issues.

Such errors could be very costly in the case is spousal attribution rules when one spouse establishes a solo 401k, while the other spouse owns a business with employees.
by jacoavlu
Fri Oct 18, 2019 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?
Replies: 147
Views: 8258

Re: Has anyone used MySolo401k.com, DiscountSolo401k.com, or Solo401k.com?

^^^ at one point they had a contribution calculator on their site and it was wrong. Or at least wrong some of the time.

You have to use The Finance Buffs spreadsheet to verify your calculations.
by jacoavlu
Thu Oct 03, 2019 9:59 pm
Forum: Personal Investments
Topic: allowable employee after tax contribution to a solo 401k
Replies: 8
Views: 396

Re: allowable employee after tax contribution to a solo 401k

the spreadsheet I linked answers your question the answer is #2 above you can see this by adjusting the profit sharing percentage on the spreadsheet (allowed from zero to 25%) I have a plan like yours, and I forego any employer contributions I prefer paying a little extra tax to get the bonus Roth s...
by jacoavlu
Thu Oct 03, 2019 7:05 pm
Forum: Personal Investments
Topic: allowable employee after tax contribution to a solo 401k
Replies: 8
Views: 396

Re: allowable employee after tax contribution to a solo 401k

Harry Sit aka The Finance Buff's spreadsheet answers your question precisely

https://docs.zoho.com/sheet/published.d ... 140934898a
by jacoavlu
Mon Sep 30, 2019 11:45 pm
Forum: Personal Investments
Topic: 100% Self managing Solo401K with Vanguard
Replies: 11
Views: 1179

Re: 100% Self managing Solo401K with Vanguard

Curious, why Vanguard? Their plan does not accept rollovers which is a real negative. E*TRADE offers and excellent plan that does accept rollovers, they have a wide range of Vanguard mutual funds and ETFs (which you can’t purchase in Vanguards solo 401k) available for no trade fee, and E*TRADE’s pla...
by jacoavlu
Thu Sep 26, 2019 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Schedule C vs S Corporation - effect on solo 401K
Replies: 8
Views: 613

Re: Schedule C vs S Corporation - effect on solo 401K

another example from Spirit Rider of the type of expertise that “separates the men from the boys”
by jacoavlu
Thu Sep 26, 2019 10:19 am
Forum: Personal Finance (Not Investing)
Topic: How to easily find past Dividend income in an E*TRADE account
Replies: 6
Views: 201

Re: How to easily find past Dividend income in an E*TRADE account

Under transactions, select dividend. Then, click on the little blue text that says "advanced search" and in the field marked "description" type in "cash div", then hit the green search button. The "cash div" entry in the description field will remove all the reinvestment activity and leave only the...
by jacoavlu
Thu Sep 26, 2019 10:08 am
Forum: Personal Finance (Not Investing)
Topic: How to easily find past Dividend income in an E*TRADE account
Replies: 6
Views: 201

Re: How to easily find past Dividend income in an E*TRADE account

On your ETrade Home page, there should be a selection across the top called Accounts. Under Accounts/Transactions, you should see Transaction History with a Transaction Type drop down with Dividend as an option. You can then select the time period you wish to report on. Right. But like I said this ...
by jacoavlu
Thu Sep 26, 2019 9:53 am
Forum: Personal Finance (Not Investing)
Topic: How to easily find past Dividend income in an E*TRADE account
Replies: 6
Views: 201

Re: How to easily find past Dividend income in an E*TRADE account

Understood. This was Etrade's advice as well.

My hope was that someone would know an easier way to get this info from within the account online. Ideally, with the right clicking around I could get an accurate total for Dividend income received between say 1/1 and 3/31.
by jacoavlu
Thu Sep 26, 2019 9:06 am
Forum: Personal Finance (Not Investing)
Topic: How to easily find past Dividend income in an E*TRADE account
Replies: 6
Views: 201

How to easily find past Dividend income in an E*TRADE account

Does anyone know an easy way to find the amount of Dividend income within an E*TRADE account for a period of time in the past? It is quite easy to find projected Dividend income in the future based on current holdings. And it’s easy to find realized and unrealized capital gains and losses for the pa...
by jacoavlu
Thu Sep 26, 2019 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Schedule C vs S Corporation - effect on solo 401K
Replies: 8
Views: 613

Re: Schedule C vs S Corporation - effect on solo 401K

establishing an S Corp will defeat the purpose for you to save taxes as an S Corp you will set your salary to something like $30,000, which means the overall dollars you'll get into a solo 401k between Roth deferral ($25,000) and voluntary after tax contributions ($5,000) will only be $30,000 becaus...
by jacoavlu
Wed Sep 25, 2019 11:38 pm
Forum: Personal Finance (Not Investing)
Topic: new 401(k) plan small business - a few days out of the market?
Replies: 5
Views: 427

Re: new 401(k) plan small business - a few days out of the market?

Saving 1% in fees year after year will be a great savings especially if those fees were being passed along to the participants. There really is no way around a little bit of time out of the market in a situation like this. Basically a coin flip whether it turns out to be a good time or bad time to h...
by jacoavlu
Wed Sep 25, 2019 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: Schedule C vs S Corporation - effect on solo 401K
Replies: 8
Views: 613

Re: Schedule C vs S Corporation - effect on solo 401K

S Corp will save payroll taxes on income taken as a distribution instead of wages. But, 401k contributions can only come from wages. Not distributions. You can use The Finance Buffs (user TFB here) spreadsheet and use the two different sheets to see how the numbers are affected for 401k contribution...
by jacoavlu
Tue Sep 24, 2019 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth not available to HCE?
Replies: 11
Views: 1205

Re: Mega backdoor Roth not available to HCE?

I would second Spirit Rider’s recommendation to contact Guideline. They can run a free projection for you based on your business demographics and compensation and tell you how much it would cost you in employer contributions to get to the annual addition limit for HCEs with profit sharing using a Ne...
by jacoavlu
Fri Sep 06, 2019 10:14 pm
Forum: Personal Investments
Topic: M1 Finance
Replies: 22
Views: 1837

Re: M1 Finance

If you transfer securities to M1, be careful. Cash you’ll probably have no problems I transferred in kind a small taxable portfolio from Betterment to M1 in 2018 so that I could unwind the holdings under my own control without trading fees. The transfer went smoothly, but the M1 platform appeared to...
by jacoavlu
Fri Sep 06, 2019 9:59 pm
Forum: Personal Consumer Issues
Topic: Ability to Stream NFL Games (Sundays, Mondays, Thursdays)
Replies: 38
Views: 3912

Re: Ability to Stream NFL Games (Sundays, Mondays, Thursdays)

I believe it’s available for streaming only if you’re in an area that can’t accomodate a dish. Like a college dorm, or a lair deep in the heart of a mountain.
by jacoavlu
Sat Aug 31, 2019 12:13 pm
Forum: Personal Consumer Issues
Topic: Any Happy DVC owners here? [Disney Vacation Club]
Replies: 61
Views: 5382

Re: Any Happy DVC owners here?

one happy DVC owner here. Allows our large family to spend a week a year in a 2BR villa at Disney which we’ve done for 8 or 9 years. Kids getting older so we’ll see how things go in the future.

We bought on secondary market for about half the Disney retail cost
by jacoavlu
Fri Aug 30, 2019 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp payroll co for single owner/employee?
Replies: 38
Views: 5410

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

Cardio wrote:
Fri Aug 30, 2019 4:28 pm
jacoavlu wrote:
Wed Aug 28, 2019 7:50 pm
I’m also curious, does Gusto still not get S Corp 2% shareholders HSA contributions coded properly without a bunch of hassle?
OP here. Gusto now correctly handles the S Corp 2% shareholder HSA (and health ins) contributions. From a satisfied customer.
Thanks! That's helpful to hear.
by jacoavlu
Wed Aug 28, 2019 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: S Corp payroll co for single owner/employee?
Replies: 38
Views: 5410

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

I’m also curious, does Gusto still not get S Corp 2% shareholders HSA contributions coded properly without a bunch of hassle?
by jacoavlu
Sun Aug 25, 2019 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Guideline now offers New Comparability 401k-profit sharing plan
Replies: 0
Views: 215

Guideline now offers New Comparability 401k-profit sharing plan

I've noticed that Guideline is now offering a 401k plan with New Comparability profit sharing. Previously their platform was limited to comp-to-comp and flat dollar amount profit sharing. I'm curious if any small business owners here have set up such a plan with Guideline and would care to provide f...
by jacoavlu
Sat Aug 24, 2019 9:05 am
Forum: Personal Consumer Issues
Topic: Physician quality and experience
Replies: 94
Views: 6400

Re: Physician quality and experience

Physician here. Years in private practice have made me a better doc no doubt, faster, more efficient, better at the “art” but I’m not sure I’m any better at the “science.” For the rare stuff, I (only half) joke that I get a little dumber every day since the board exam I studied months for and took a...
by jacoavlu
Fri Aug 16, 2019 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: question about Anthem announcement: not paying for outpatient MRI and CT
Replies: 14
Views: 2040

Re: question about Anthem announcement: not paying for outpatient MRI and CT

About radiologist quality. That’s difficult. Your referring doctor usually will have some idea. Heavens, I'm not even allowed to request a specific radiologist to read my mammo. I can only imagine what would happen if I started inquiring about the qualifications of the radiologist reading my MRI......
by jacoavlu
Fri Aug 16, 2019 5:08 pm
Forum: Personal Investments
Topic: Vanguard government money market funds not available to organization accounts at Etrade
Replies: 9
Views: 514

Re: Vanguard government money market funds not available to organization accounts at Etrade

An update. After talking to several folks at E*TRADE we can now purchase VMFXX Vanguard Federal Money Market fund in our C Corp organization account at E*TRADE, but not through the website. Has to be done over the phone. Still a benefit to have access to this as opposed to the other money market opt...
by jacoavlu
Thu Aug 15, 2019 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: question about Anthem announcement: not paying for outpatient MRI and CT
Replies: 14
Views: 2040

Re: question about Anthem announcement: not paying for outpatient MRI and CT

Type of scan, yes. For instance, “Brain MRI without contrast” But depending on where the scan is performed, scan and or interpretation quality can vary widely. The OP noted that a referring physician was skeptical of the quality of the freestanding imaging available in their local area. The concern ...
by jacoavlu
Thu Aug 15, 2019 9:09 pm
Forum: Personal Finance (Not Investing)
Topic: question about Anthem announcement: not paying for outpatient MRI and CT
Replies: 14
Views: 2040

Re: question about Anthem announcement: not paying for outpatient MRI and CT

You want imaging on a high field system. Most commonly that’s a 1.5T (Tesla) magnet. There are a few high field open scanner but most open MRI systems are low field and produce a lower quality scan sometimes to a severe degree. So you could inquire about the specific machine that a center uses. Ther...
by jacoavlu
Thu Aug 15, 2019 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: question about Anthem announcement: not paying for outpatient MRI and CT
Replies: 14
Views: 2040

Re: question about Anthem announcement: not paying for outpatient MRI and CT

I’ll also add. Your scan wherever you go is most likely interpreted by a radiologist local to you. Definitely not India. There was a time when some overnight imaging would be interpreted, usually on a prelim basis only (not a final interpretation) by a US radiologist who physically moved overseas (Z...
by jacoavlu
Thu Aug 15, 2019 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: question about Anthem announcement: not paying for outpatient MRI and CT
Replies: 14
Views: 2040

Re: question about Anthem announcement: not paying for outpatient MRI and CT

Radiologist here Medical imaging is to a degree becoming or at least being thought of as a commodity. I don’t think it should be. Neither should be a joint replacement or a cardiac cath. Sometimes, you and your insurance company get gouged paying higher hospital prices. Sometime, you get exactly wha...
by jacoavlu
Wed Aug 14, 2019 9:33 pm
Forum: Personal Investments
Topic: Composition of Total World Stock Index
Replies: 8
Views: 876

Re: Composition of Total World Stock Index

I realize it’s not a fund-of-funds, but is it reasonable to consider VT as being comprised of ~60% VTI and ~40% VXUS? depends what you mean by reasonable, in addition to US:Intl ratio being more like 55:45, VT only holds roughly 3/4 as many stocks as does VTI plus VXUS. I think that’s mostly from f...
by jacoavlu
Thu Aug 01, 2019 4:19 pm
Forum: Personal Investments
Topic: E-Trade and mega backdoor Roth
Replies: 46
Views: 3791

Re: E-Trade and mega backdoor Roth

I think you're wasting your time. How much do you think you're going to pay a lawyer? You might be able to use a document from mysolo401k.net or discountsolo401k.com without their ongoing help. You could ask. It's not like they have the authority to cancel your plan after year one. They're not provi...
by jacoavlu
Mon Jul 29, 2019 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Learned you cannot have Individual Roth 401(k) and SEP-IRA running simultaneously. How do you fix it?
Replies: 20
Views: 1506

Re: Learned you cannot have Individual Roth 401(k) and SEP-IRA running simultaneously. How do you fix it?

But couldn't you argue that while the vendor opened an account titled 401k that since the company (OP) never filed proper paperwork then the 401k was never real especially as no $ went into it. I went with a SEP too and since we are watching ACA cliff then our business income is such that SEP plus ...
by jacoavlu
Sun Jul 28, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Calculate S-Corp distribution amount from financial statement
Replies: 10
Views: 629

Re: Calculate S-Corp distribution amount from financial statement

most importantly, corp income increases basis, distributions decrease basis. So if all income is distributed, basis stays the same. If income is not distributed, shareholder still pays tax on the pass through income, and basis increases. This is why you could take a tax free distribution from the co...
by jacoavlu
Sun Jul 28, 2019 8:27 am
Forum: Personal Investments
Topic: Mega Backdoor Roth: How much to expect to pay on the interest growth?
Replies: 7
Views: 472

Re: Mega Backdoor Roth: How much to expect to pay on the interest growth?

"how much will you pay in taxes on earnings before conversion?" unanswerable beyond a wild guess, without more information depends on how you invest the contributions - stocks, bonds, stable value fund? contributions could experience significant growth, or loss, or be flat depends on your marginal t...
by jacoavlu
Sun Jul 28, 2019 7:46 am
Forum: Personal Investments
Topic: Business Owner - Need Help w/ Mega Backdoor Roth
Replies: 13
Views: 813

Re: Business Owner - Need Help w/ Mega Backdoor Roth

dilloway wrote:
Sat Jul 27, 2019 6:44 pm
I do have one full-time employee in the US.
I'll also admit I've no idea about rules regarding international employees. Perhaps you can ignore them completely. But I wouldn't assume that to be the case.
by jacoavlu
Sat Jul 27, 2019 9:39 pm
Forum: Personal Investments
Topic: Business Owner - Need Help w/ Mega Backdoor Roth
Replies: 13
Views: 813

Re: Business Owner - Need Help w/ Mega Backdoor Roth

There are employee eligibility rules that you should learn. You would create a real mess if you started a solo 401k and excluded eligible employees. Your accountant should know better. You also have to be careful even with your spouse starting a solo 401k for her business. Controlled group rules app...
by jacoavlu
Sat Jul 27, 2019 4:16 pm
Forum: Personal Investments
Topic: Business Owner - Need Help w/ Mega Backdoor Roth
Replies: 13
Views: 813

Re: Business Owner - Need Help w/ Mega Backdoor Roth

Does your business have employees? If so, any retirement plan you would institute would also have to cover eligible employees. If you do have employees you should consider a safe harbor 401k and profit sharing plan If no employees, I would agree with Terran that you should focus on tax reduction at ...
by jacoavlu
Tue Jul 23, 2019 1:37 pm
Forum: Personal Investments
Topic: Betterment Everyday Savings and Checking Launches - 2.69% interest, FDIC insured
Replies: 21
Views: 1733

Re: Betterment Everyday Savings and Checking Launches - 2.69% interest, FDIC insured

https://www.betterment.com/resources/betterment-everyday-FAQ/#13 Are there any fees? Betterment Everyday™ Savings† has no fees on your balance . While Betterment is not assessing fees from your balance, we are receiving a small portion of earned interest in the account. The portion we receive will ...
by jacoavlu
Fri Jul 19, 2019 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: Having both S-corp and sole-proprietorship?
Replies: 7
Views: 467

Re: Having both S-corp and sole-proprietorship?

If your sole prop income plus S corp salary end up exceeding the SS wage base, and you end up with excess SS withholding, then that would be refunded through your personal tax return. But there is no way to get the excess portion that was paid on the S corp side refunded. The more you make as a sol...
by jacoavlu
Fri Jul 19, 2019 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Scenario on Gains / Losses
Replies: 15
Views: 1124

Re: Mega Backdoor Scenario on Gains / Losses

are the after tax contributions in the 401k invested differently than the funds would be within the Roth IRA? If not, I don't think waiting makes any difference. Think about it: 1. Ideal: After tax contribution $10k. Rolled over to Roth immediately, results in $10k in Roth IRA. 2. After tax contribu...