Search found 1155 matches

by Hayden
Sun Oct 21, 2018 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Investing via LLC or S Corp - is there a self employment tax?
Replies: 6
Views: 418

Re: Investing via LLC or S Corp - is there a self employment tax?

For an S Corp, you pay social security and Medicare taxes on wages. So if you dont pay yourself wages, you won't pay these taxes. If your only receipts are capital gain and dividends, then I guess you would not pay yourself wages. Is that right? Yea, but irs may tell that the owner of the s corp sh...
by Hayden
Sun Oct 21, 2018 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Investing via LLC or S Corp - is there a self employment tax?
Replies: 6
Views: 418

Re: Investing via LLC or S Corp - is there a self employment tax?

For an S Corp, you pay social security and Medicare taxes on wages. So if you dont pay yourself wages, you won't pay these taxes. If your only receipts are capital gain and dividends, then I guess you would not pay yourself wages. Is that right?
by Hayden
Sat Oct 20, 2018 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Received strange letter from IRS
Replies: 14
Views: 2691

Re: Received strange letter from IRS

I got a similar letter when I revised my return for some added income. I had to take a little more rmds from a inherited ira. I was told this is normal and to not expect further correspondence. The letter is to tell you they are looking at the return. Did you revise your 1040? Or do some other stuf...
by Hayden
Sat Oct 20, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Received strange letter from IRS
Replies: 14
Views: 2691

Re: Received strange letter from IRS

How long ago did you file your 2017 return? Was it paper filed or e-filed? I have a vague memory of seeing one of these for a taxpayer when they had gone well past their normal processing cycle time. The return had been kicked to a review process (it may have been triggered by a specific entry or r...
by Hayden
Sat Oct 20, 2018 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Received strange letter from IRS
Replies: 14
Views: 2691

Received strange letter from IRS

I received a letter from the IRS that I don't understand. It references my 2017 Form 1040. It says: "We're working on your account. However, we need an additional 60 days to send you a complete response on what action we are taking on your account. We don't need any further information from you righ...
by Hayden
Thu Oct 11, 2018 4:55 pm
Forum: Investing - Theory, News & General
Topic: When Markets Tank, Do This - Jason Zweig
Replies: 5
Views: 2861

Re: When Markets Tank, Do This - Jason Zweig

Great! Thanks for posting!
by Hayden
Thu Oct 11, 2018 3:31 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 7401
Views: 1553903

Re: U.S. stocks in freefall

Anyone have a hypothesis as to what in the world is causing the drop this week? One word answer: "fear" I'm hoping for continued "fear" through December so that my Roth conversions on Jan 2 will be at discount rates. I wouldn't necessarily call this a drop. "Heavy noise" would be more like it.... 8...
by Hayden
Thu Oct 11, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Obamacare premiums will be down an average of 1.5 percent next year
Replies: 39
Views: 3979

Re: Obamacare premiums will be down an average of 1.5 percent next year

With big variability.... mine are going up substantially
by Hayden
Thu Oct 11, 2018 10:11 am
Forum: Investing - Theory, News & General
Topic: This Time is Different
Replies: 30
Views: 5399

Re: This Time is Different

Banks and the investment industry compete to hold your money. By the "investment industry" I mean industries based on securities: stockbrokers, mutual funds, and financial advisors. When you liquidate stocks and hold cash, it is bad for the investment industry. Therefore, just about everybody in th...
by Hayden
Mon Oct 08, 2018 1:05 pm
Forum: Personal Consumer Issues
Topic: UPS mailbox experiences?
Replies: 14
Views: 734

Re: UPS mailbox experiences?

I have a UPS box, works great. When I travel for extended periods, I can call them and have them forward my mail to me.

UPS didn't work for me because I travel for long periods and they don't hold mail for more than 30 days. Sometimes I have the UPS box hold mail for longer than that.
by Hayden
Sun Oct 07, 2018 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Mechanics of running a one-person S-corp without an accountant
Replies: 7
Views: 828

Re: Mechanics of running a one-person S-corp without an accountant

I do it myself. TurboTax Business is easy to use. You can use it (and a related product from Intuit that comes with it) to file the W2, 1120S, and K-1. It sounds like you don't know the quarterly payroll forms that are required. I'm sure Paycheck gives you copies of everything. Take a look at what t...
by Hayden
Wed Oct 03, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: how difficult is Form 1116 (foreign tax credit)
Replies: 12
Views: 622

Re: how difficult is Form 1116 (foreign tax credit)

Once foreign dividends exceed $20k it gets complicated. Below that point, I think TurboTax handles it easily.
by Hayden
Wed Oct 03, 2018 11:42 am
Forum: Personal Consumer Issues
Topic: Thinking of moving to Texas, Iowa, Idaho, or North Carolina
Replies: 209
Views: 14355

Re: Thinking of moving to Texas, Iowa, Idaho, or North Carolina

Idaho is great, don't rule it out. And there is more to Idaho than Boise.
by Hayden
Wed Oct 03, 2018 11:36 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3346
Views: 1005286

Re: What Book Are You Currently Reading? Part VI

Currently reading Digital Helix. I'm interested in the subject of digital transformation. This book is good, but is leaving me wanting more. Anyone have a book they recommend on digital transformation?
by Hayden
Tue Oct 02, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement accounts and physician SCorps and Tax Reform
Replies: 82
Views: 7281

Re: Retirement accounts and physician SCorps and Tax Reform

Spirit Rider wrote:
Tue Oct 02, 2018 4:07 pm
Nothing changed in the tax reform with regard to the ability or steps necessary for an S-Corp shareholder-employee to take the self-employed health insurance deduction.
Thanks! i guess folks just haven't gotten around to putting this in the 2018 tax calculators.
by Hayden
Tue Oct 02, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Retirement accounts and physician SCorps and Tax Reform
Replies: 82
Views: 7281

Re: Retirement accounts and physician SCorps and Tax Reform

I've been running tax plans for 2018 using a few different calculators, and none of them included the self-employed health insurance deduction as a reduction to AGI. I have an S Corp. I believe that the health insurance (that is included as wages on my W2) is still deductible in 2018. Guessing that ...
by Hayden
Wed Sep 26, 2018 12:03 pm
Forum: Personal Consumer Issues
Topic: NYC weekend house: your experiences?
Replies: 18
Views: 2786

Re: NYC weekend house: your experiences?

I did this, although not in NY. Spent alot of time on logistics - need to keep two refrigerators and two pantries stocked. Need to do laundry at two places, clean two places, and do ongoing maintenance at two places.
by Hayden
Wed Sep 26, 2018 11:12 am
Forum: Personal Finance (Not Investing)
Topic: 2019 ACA prices out
Replies: 47
Views: 4812

Re: 2019 ACA prices out

I found the rates published on the State website. The increase is about 30%.

For some reason, they are reducing the deductible on my bronze HSA plan. I'd rather have a higher deductible.
by Hayden
Sat Sep 22, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Out of network care
Replies: 96
Views: 7224

Re: Out of network care

OP, did you end up choosing Kaiser or another provider? How is it working out? Thanks. Wonder the same myself? I did go with Kaiser. Fortunately, I have very little to report. They have a fabulous walk-in clinic near my home. Walked in, got the shingles vaccine, negligible wait, wonderful experienc...
by Hayden
Tue Sep 18, 2018 5:36 pm
Forum: Personal Consumer Issues
Topic: Anyone hire an interior designer?
Replies: 39
Views: 3556

Re: Anyone hire an interior designer?

We used Pottery Barn. They don't charge, but, of course, they want you to buy their stuff. Our decorator picked a wall color for us. It was a color we never would have picked, and it looks great. She definitely had a better eye for color than we do.
by Hayden
Sun Sep 16, 2018 4:18 pm
Forum: Investing - Theory, News & General
Topic: Equity allocation for Flagship clients?
Replies: 47
Views: 3957

Re: Equity allocation for Flagship clients?

My AA is 50/50. This helps me to sleep well at night.
by Hayden
Sun Sep 16, 2018 3:57 pm
Forum: Personal Consumer Issues
Topic: Travel- overwater bungalows
Replies: 16
Views: 2398

Re: Travel- overwater bungalows

I saw these when I was in Jamaica. Didn't stay there. I like to be able to return to my room easily. I'm not sure I like the idea of having to wait for the boat to take me to my room.
by Hayden
Fri Sep 14, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Lab test prices - exasperating!
Replies: 101
Views: 6003

Re: Lab test prices - exasperating!

My Dr ordered a medically necessary test, to be conducted at his facility. When I received the EOB, the charge was denied because pre-authorization had not been obtained.

So when my Dr orders a test, I'm supposed to call the insurance company to check before I have the test?
by Hayden
Sun Sep 09, 2018 3:31 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 3346
Views: 1005286

Re: What Book Are You Currently Reading? Part VI

I just started reading Enlightenment Now by Steven Pinker.

Edited: I've gotten further in the book and I think it's excellent. Highly recommend it.
by Hayden
Thu Sep 06, 2018 11:31 am
Forum: Personal Consumer Issues
Topic: What is best billing software for consulting firms?
Replies: 4
Views: 579

Re: What is best billing software for consulting firms?

I don't use QuickBooks, but doesn't QuickBooks do that?
by Hayden
Sat Sep 01, 2018 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: New Roth conversion
Replies: 3
Views: 271

Re: New Roth conversion

I think it's going to make you subject to the 3.8% NIIT. I don't think it is wages, so I don't think it is subject to the 0.9% surtax on wages.
by Hayden
Sat Sep 01, 2018 11:40 am
Forum: Investing - Theory, News & General
Topic: The US debt is even larger than stated
Replies: 25
Views: 2091

The US debt is even larger than stated

This article argues that the US debt is even larger than stated in the official statistics. Makes sense to me. What is the implication for the individual investor planning for retirement? Simply save more? https://www.project-syndicate.org/commentary/america-hidden-debt-infrastructure-climate-change...
by Hayden
Fri Aug 24, 2018 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Costco business credit card
Replies: 13
Views: 980

Re: Costco business credit card

I've read several times on Bogleheads that business credit cards are dangerous, and the better approach is to get a personal credit card and designate it for business use. I have two credit cards from Costco: one personal and one business. The business card does not have my business name on it (jus...
by Hayden
Fri Aug 24, 2018 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Costco business credit card
Replies: 13
Views: 980

Re: Costco business credit card

I have been using Chase Ink and Capital One Spark Business cards for my business expenses for the last couple of years. Should I stop using them and put all business purchases on my personal cards from now? My Quickbooks account is linked to these cards for recording of business expenses. If I use ...
by Hayden
Fri Aug 24, 2018 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: Costco business credit card
Replies: 13
Views: 980

Re: Costco business credit card

I think it is more in how the laws are written than the cc agreement itself, plus interest rate differences. . In fact, small business credit card interest rates went up six times faster than interest rates on consumer cards immediately after the CARD Act went into effect back in 2010. And what hap...
by Hayden
Fri Aug 24, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: K-1 1120S Income Vs. Distribution
Replies: 4
Views: 282

Re: K-1 1120S Income Vs. Distribution

The income is what the company made. That is what you are taxed on. You are then able to take that money out of the company without paying additional taxes. The distribution is the amount that is actually taken out of the company. There are so many reasons why the two amounts would differ, that i am...
by Hayden
Thu Aug 23, 2018 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: Costco business credit card
Replies: 13
Views: 980

Costco business credit card

I've read several times on Bogleheads that business credit cards are dangerous, and the better approach is to get a personal credit card and designate it for business use. I have two credit cards from Costco: one personal and one business. The business card does not have my business name on it (just...
by Hayden
Thu Aug 23, 2018 11:14 am
Forum: Personal Consumer Issues
Topic: Test your cognitive biases
Replies: 89
Views: 5422

Re: Test your cognitive biases

same result - "This is the highest score one can receive on this test"

I did my Ph.D. research in risk assessment, so I guess that's not a surprise.
by Hayden
Tue Aug 21, 2018 11:55 am
Forum: Investing - Help with Personal Investments
Topic: Small Biz Owner Would Appreciate Feedback on Investments
Replies: 10
Views: 729

Re: Small Biz Owner Would Appreciate Feedback on Investments

I'm also a small business owner, and I chose to dial down the risk of my portfolio, due to the higher risk of my company. Specifically, I have chosen a 50/50 asset allocation .

Suggest you look at the total risks you face, e.g., how correlated is your business income with the economy.
by Hayden
Sun Aug 12, 2018 9:44 am
Forum: Investing - Help with Personal Investments
Topic: iORP Monte Carlo vs FireCalc
Replies: 10
Views: 1145

Re: iORP Monte Carlo vs FireCalc

I had the same experience. I hope I am not missing something important as I rely on the FireCalc results.

Please do post back if you get to the bottom of this.
by Hayden
Mon Aug 06, 2018 9:07 am
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 753
Views: 73954

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

I just received the email from Fidelity telling me about these funds. I wonder why other folks got notified before me.
by Hayden
Mon Aug 06, 2018 12:10 am
Forum: Personal Finance (Not Investing)
Topic: Best way to lose $200 in taxable income?
Replies: 96
Views: 7253

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

Well, I guess the only thing left - you've got approx. 5 months left in the year to open some sort of side business. Your Schedule C loss can be used to offset ordinary income. Since you need only do this for one year (next year you will know better) you should be okay on the IRS hobby rules, i.e.,...
by Hayden
Sun Aug 05, 2018 10:42 pm
Forum: Personal Consumer Issues
Topic: input on trip to Spokane, Coeur D'Alene
Replies: 25
Views: 1747

Re: input on trip to Spokane, Coeur D'Alene

There's a huge number of wineries and breweries in Spokane. Check out the Cork District. Barrister Winery is particularly good.

In Coeur dalene, you can take a boat cruise, or hike Tubbs Hill for a great view of the lake.
by Hayden
Wed Aug 01, 2018 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Is there a Boglehead way of running a business?
Replies: 19
Views: 2174

Re: Is there a Boglehead way of running a business?

This is an interesting question. I look forward to reading the responses. I'll share my experience. I had a S Corp and a separate real estate company. I lucked out and the S Corp was very profitable. The real estate was a drag on my time and attention. For me, I would have been better off putting al...
by Hayden
Tue Jul 31, 2018 3:00 pm
Forum: Personal Consumer Issues
Topic: West Coast Tour Group Suggestions
Replies: 17
Views: 1132

Re: West Coast Tour Group Suggestions

I've taken many Road Scholar trips. All but one were excellent. I highly recommend them. I also suggest carefully reading the reviews they post on their website for the trips that interest you.
by Hayden
Sat Jul 28, 2018 7:59 pm
Forum: Personal Consumer Issues
Topic: Wood Tile Floor vs Luxury Vinyl Plank
Replies: 7
Views: 753

Re: Wood Tile Floor vs Luxury Vinyl Plank

If you are concerned about resale, we need to know more about the house. I think the vinyl plank would be great in a moderately pricrd house, but not in a hgh priced house.
by Hayden
Sat Jul 28, 2018 8:51 am
Forum: Investing - Help with Personal Investments
Topic: Firecalc Says No Benefit to a Higher Equity Asset Allocation??
Replies: 47
Views: 4700

Re: Firecalc Says No Benefit to a Higher Equity Asset Allocation??

I'm in this situation and my asset allocation is 50/50. If I were to increase stocks, I'd probably die with more money. But I don't have heirs, nor any family members who need money, so that is not particularly important to me. The cost of increasing the stock allocation would be more stress to me. ...
by Hayden
Sat Jul 28, 2018 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Moral dilemma - What would you do?
Replies: 54
Views: 5817

Re: Moral dilemma - What would you do?

It probably depends on the circumstances. I have a small business that has been selling to megacorps for 20 years. I have kept the same customers over the years, which has made my life much easier. I never regarded any contract as a one-off, but rather always saw it through the lens of building a lo...
by Hayden
Fri Jul 27, 2018 10:35 am
Forum: Personal Consumer Issues
Topic: Tips for staying active / injury-free into older age
Replies: 162
Views: 14292

Re: Tips for staying active / injury-free into older age

Right now I'm reading a book "the barbell prescription" that was recommended on another Bogleheads thread. I recommend it. I work out every day. I do spinning and lift weights. I am also constantly in pain. Haven't figured out how to avoid injuring myself. I do spend alot of time stretching every da...
by Hayden
Fri Jul 27, 2018 10:28 am
Forum: Personal Finance (Not Investing)
Topic: [S-Corps] Accountant advice on handling profit
Replies: 22
Views: 1428

Re: [S-Corps] Accountant advice on handling profit

My business partner and I run an S-Corp. We are 50/50 partners. Recently talked with our accountant about having an "Operating Reserve fund".. this will essentially be a business savings account where we store excess cash that can serve as emergency fund / innovation fund as we need more cash to gr...
by Hayden
Fri Jul 20, 2018 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Pass Thru Deduction-Roth Conversion Question
Replies: 6
Views: 569

Re: Pass Thru Deduction-Roth Conversion Question

I'm planning on doing the same. Makes sense to me. Are you going to wait until the end of the year to make one big conversion or are you converting some now? My initial plan was to do one conversion at the end of the year when I know exactly how much to convert. But now I am thinking I should conve...
by Hayden
Fri Jul 20, 2018 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Pass Thru Deduction-Roth Conversion Question
Replies: 6
Views: 569

Re: Pass Thru Deduction-Roth Conversion Question

I'm planning on doing the same. Makes sense to me.
by Hayden
Wed Jul 18, 2018 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 14680

Re: Early retirement

Just yesterday someone asked me what I do, and I said I am retired. She flat out didn't believe me; couldn't fathom that I had made enough money to be FI. I guess I look young :D Since I'm contemplating a startup (currently doing a course on the business model canvas), I guess I'll go back to tellin...
by Hayden
Fri Jul 13, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 14680

Re: Early retirement

I retired early. I've had some very interesting interactions with people when they find out I've done so. Some are socially awkward, some rude, some confused and other bizarre reactions. Has anyone else experienced what I have? Yes, a little bit, but nothing I would characterize as bizarre. How you...
by Hayden
Fri Jul 13, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Retired, age 60 - Tax Plan. Please suggest improvements.
Replies: 30
Views: 3203

Re: Retired, age 60 - Tax Plan. Please suggest improvements.

MrBeaver You are correct in that some conversions are better in the long term. Sometimes, however, it takes many years. The retirement calculator that uses excel, Retiree Portfolio Model, has a output table that shows the break even point for Roth conversions in given scenarios. For me it is one of...