Search found 18 matches

by mgcfo
Wed Mar 06, 2013 6:40 am
Forum: Personal Finance (Not Investing)
Topic: What is a 'reasonable compensation' for an S Corp?
Replies: 16
Views: 3655

Re: What is a 'reasonable compensation' for an S Corp?

First, I'd recommend Duane Gravley of Burnsville. His firm works on small businesses and can even provide back office bookkeeping support ... http://www.crispandgravley.com/ Your question will always be a hot topic as many s corp owners want to minimize the salary in order to reduce payroll taxes (d...
by mgcfo
Tue Mar 05, 2013 7:15 am
Forum: Personal Finance (Not Investing)
Topic: CPA recommendation in Seattle area?
Replies: 4
Views: 807

Re: CPA recommendation in Seattle area?

I have worked with Proebstel Michels, but they are based in the central part of Washington in Sunnyside. Great people and extremely knowledgeable. Specifically, Kirk Michels is the CPA I worked with the most at that firm. If you have a scanner, they have a secure private portal where documents can e...
by mgcfo
Sun Mar 03, 2013 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Setting the basis for a home converted to rental
Replies: 5
Views: 647

Re: Setting the basis for a home converted to rental

No, property must be acquired by purchase for use in a trade or business. Therefore, property purchased for personal use and later converted to business use does not qualify for Section 179. Generally speaking, property used in real estate rental activity doesn't qualify for Section 179 anyway. Pro...
by mgcfo
Sun Mar 03, 2013 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Setting the basis for a home converted to rental
Replies: 5
Views: 647

Re: Setting the basis for a home converted to rental

1. Is there a another, better approach? Is there something I am missing? The appliances were new in December, 2005 and six years old in January 2012. The used value of appliances is half or less. 2. Should I separate the appliances and use a different depreciation schedule? 3. Anticipating IRS ques...
by mgcfo
Sat Mar 02, 2013 7:51 am
Forum: Personal Consumer Issues
Topic: TV show recommendations?
Replies: 573
Views: 225932

Re: TV show recommendations?

24
Lost
by mgcfo
Thu Feb 28, 2013 1:14 pm
Forum: Personal Consumer Issues
Topic: Anybody use Legalzoom for trusts etc.?
Replies: 12
Views: 1635

Re: Anybody use Legalzoom for trusts etc.?

Also, a big reason to use trust expert is to make sure all the questions are asked. It is much easier to get answers once you know the question. That is part of what you pay them for, to ask the appropriate questions for your situation. In my limited knowledge, taxes and estates seem to be an incre...
by mgcfo
Wed Feb 27, 2013 7:22 am
Forum: Investing - Theory, News & General
Topic: I'm new to the penny market, where to start?
Replies: 52
Views: 5117

Re: I'm new to the penny market, where to start?

Thanks John. I have lots to start with all these posts, you guys are great. The original article that got me thinking that this would be a relatively painless way to begin learning to navigate the investment opportunities was about software and alertness detection technologies. This is a subject th...
by mgcfo
Thu Feb 21, 2013 5:29 am
Forum: Investing - Theory, News & General
Topic: Your favorite financial website
Replies: 24
Views: 2787

Re: Your favorite financial website

I read new entries from:

Oblivious Investor
Do-It-Yourself Investor

My kids have The College Investor bookmarked.
by mgcfo
Mon Feb 18, 2013 7:14 am
Forum: Investing - Theory, News & General
Topic: a john c. bogle book for a lad
Replies: 15
Views: 2148

Re: a john c. bogle book for a lad

In addition to the above, Millionaire Teacher is a great read.
by mgcfo
Mon Feb 18, 2013 7:07 am
Forum: Personal Consumer Issues
Topic: Books for Selling Consulting/Engineering Services
Replies: 5
Views: 1095

Re: Books for Selling Consulting/Engineering Services

I've been consulting since 2001, and the best resource I've found on selling is Integrity Selling for the 21st Century by Ron Willingham. Consider the following resources over the course of the next year as you think about growing and scaling your business: -1- Go to http://www.gazelles.com and get ...
by mgcfo
Sun Feb 17, 2013 9:24 am
Forum: Investing - Help with Personal Investments
Topic: Help with Excel
Replies: 13
Views: 1482

Re: Help with Excel

I've searched the forum for this question, but keep striking out. While XIRR is great for deriving the overall return, I'd still like to see the return attributed to earnings (dividends and interest) and capital gains (or losses) and then combined. Please tell me I'm not the only one wanting to see ...
by mgcfo
Sat Feb 16, 2013 8:17 am
Forum: Investing - Help with Personal Investments
Topic: Investing for end-of-life healthcare?
Replies: 25
Views: 3128

Re: Investing for end-of-life healthcare?

I apologize if I'm getting a little off track - part of my long-term care insurance is taking care of myself now. I weighed 216 November, 2010 (age 50 at the time). Today, I'm in the low 170's eating right and exercising about 6 days per week. No, this will not keep certain forms of cancer away. Nor...
by mgcfo
Thu Feb 14, 2013 6:51 pm
Forum: Investing - Theory, News & General
Topic: What % of your income are you saving for retirement?
Replies: 228
Views: 30736

Re: What % of your income are you saving for retirement?

About 26% to retirement accounts
About 7% to after-tax accounts I'll never touch till after retirement
by mgcfo
Thu Feb 14, 2013 7:58 am
Forum: Personal Finance (Not Investing)
Topic: Investment Bank Internship versus Accounting Courses
Replies: 27
Views: 2688

Re: Investment Bank Internship versus Accounting Courses

Even though I'm biased as I worked for a (what was then called a) Big Eight firm, if she can get an internship offer, she should take it. Assume she does an internship and finds she does not like it and decides accounting is her passion. The downside is that she spends an extra semester finishing he...
by mgcfo
Wed Feb 13, 2013 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Self Employment Question
Replies: 4
Views: 718

Re: Self Employment Question

In the scenario you provide, there is probably nothing else you need to do (additional filings would be required if you were passing the income through a single member LLC taxed as an s-corp, but I doubt that's your situation). As a professional gambler, you will file those earnings and expenses (if...
by mgcfo
Fri Feb 08, 2013 9:58 am
Forum: Investing - Help with Personal Investments
Topic: Options for Partially Self-Employed Wife
Replies: 5
Views: 659

Re: Options for Partially Self-Employed Wife

I am not an expert on this topic, and I'm assuming there will be some CPA's and financial planners to give more specifics. In my situation, I use a SEP IRA which I rolled over from my employer's 401k plan in 2001 when I started my practice. I purposely went with the SEP IRA for ease and simplicity. ...
by mgcfo
Fri Feb 08, 2013 7:47 am
Forum: Personal Consumer Issues
Topic: Live in rural area, need internet provider
Replies: 12
Views: 2141

Re: Live in rural area, need internet provider

Although I live in rural Missouri, my situation is similar. I use a Verizon wireless air card for my business, and here at home, download/upload speeds are average to good. Presumably, that's because Verizon has contracts with nearby cell tower owners. Previously, my wife and I were on AT&T, and the...
by mgcfo
Thu Feb 07, 2013 6:18 pm
Forum: Investing - Help with Personal Investments
Topic: SIMPLE IRA question
Replies: 7
Views: 646

Re: SIMPLE IRA question

I'm a new Vanguard customer as of late November. I started the transfer/rollover process of my SEP IRA from Raymond James to Vanguard during the second week of January. So the answer is yes. If you go to Vanguard's home page, click on What We Offer and click on IRAs. Along the right side of the page...