Search found 2305 matches

by niceguy7376
Sat Jun 22, 2019 1:28 am
Forum: Personal Investments
Topic: My first post ... how am I doing?
Replies: 20
Views: 2813

Re: My first post ... how am I doing?

How is your wife business setup? Sole Prop or S Corp? Based on the feedback already given, your first priority is to get the spouse solo 401k setup right. If the provider of the solo 401k can accept prev 401k accounts (unless her 401k is already rolled over into trad ira) or trad ira, then her hurdl...
by niceguy7376
Tue Jun 11, 2019 11:09 am
Forum: Personal Investments
Topic: Left MegaCorp, Disadvantages to Rolling 401K & Pension to Self-Directed Solo 401K?
Replies: 28
Views: 1891

Re: Left MegaCorp, Disadvantages to Rolling 401K & Pension to Self-Directed Solo 401K?

Another topic to consider. Once your solo 401k account balance crosses 250K, you need to file Form 5500-EZ. Based on your plan to open a solo 401k that allows after tax (not roth), you might be close to contributing the yearly max of 56K. Combine this with 200K rollover, you might need to file the f...
by niceguy7376
Thu Jun 06, 2019 10:24 pm
Forum: Personal Consumer Issues
Topic: Gillette Fusion razors
Replies: 57
Views: 4903

Re: Gillette Fusion razors

Where can I get Mach3 for a good price?
Costco doesnt sell them anymore.
by niceguy7376
Wed Jun 05, 2019 10:02 pm
Forum: Personal Investments
Topic: Can S-Corp offer HSA without offering health insurance
Replies: 21
Views: 1215

Re: Can S-Corp offer HSA without offering health insurance

Incidentally, since you presumably don't file a joint return with your girlfriend, are not each other's dependents, but both have family coverage (under her plan) it is quite possible that you both can take the full $7k HSA family contribution/deduction to your respective HSAs. This is one of those...
by niceguy7376
Wed Jun 05, 2019 5:26 pm
Forum: Personal Consumer Issues
Topic: Frequent Flyer miles for kids. Can I use them?
Replies: 12
Views: 684

Re: Frequent Flyer miles for kids. Can I use them?

Depends on airlines.

British Airways has a family account where you can have upto 6 family members that can pool their miles for usage.
by niceguy7376
Wed Jun 05, 2019 7:49 am
Forum: Personal Investments
Topic: Can S-Corp offer HSA without offering health insurance
Replies: 21
Views: 1215

Re: Can S-Corp offer HSA without offering health insurance

Does anyone know if an S-Corp can make direct contributions to a > 2% shareholder's HSA even if the S-Corp does not provide the shareholder's health insurance? The shareholder is an employee of the S-Corp and is covered by the spouse's HSA-eligible healthcare plan through the spouse's employer. Wha...
by niceguy7376
Tue Jun 04, 2019 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Is it Wise to Remove Escrow if Bank Allows it?
Replies: 87
Views: 5514

Re: Is it Wise to Remove Escrow if Bank Allows it?

My personal experience: PRO - Fixed monthly payment added to mortgage loan payment. CON - I need to send the property bill to them. I need to send Insurance premium bill to them With no Escrow, I pay my property bill with a new Credit Card that I took for bonus offer and pay 2% extra for CC processi...
by niceguy7376
Tue Jun 04, 2019 2:17 pm
Forum: Personal Investments
Topic: Taxable gains...exchange or let it ride?
Replies: 9
Views: 803

Re: Taxable gains...exchange or let it ride?

Is this taxable account a part of your retirement account? If so, you dont need to have a 3 or 4 fund portfolio in all of your accounts. You need to have that portfolio spread across all retirement accounts. That would mean a domestic or international stock index fund in your brokerage and bonds mos...
by niceguy7376
Tue Jun 04, 2019 2:05 pm
Forum: Personal Consumer Issues
Topic: Amazon free shipping, bait-and-switch?
Replies: 46
Views: 4274

Re: Amazon free shipping, bait-and-switch?

Could you try to ship to your address and see what the options are?
Could you try to go to Amazon site in "Incognito" mode and see if it is different for the same product?

How about trying different browser?
It looks like there is something in the logical flow that triggers this.
by niceguy7376
Tue Jun 04, 2019 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Paying off my Loan Strategies - How???
Replies: 11
Views: 863

Re: Paying off my Loan Strategies - How???

1. Still contribute to 401k or other retirement plans up to max 2. Do Roth IRA (back door Roth) as well. 3. No more brokerage account additions. 4. Minimize expenses where you can 5. Pay any amount left to the loans. If you want to look at loan refinancing, the one company that I heard and now see a...
by niceguy7376
Tue Jun 04, 2019 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Transferring Ownership of 529 to Maximize Financial Aid via FAFSA
Replies: 5
Views: 459

Re: Transferring Ownership of 529 to Maximize Financial Aid via FAFSA

Does graduate programs offer financial Aid based on FAFSA?
by niceguy7376
Tue Jun 04, 2019 11:43 am
Forum: Personal Consumer Issues
Topic: Being given charity that I don't need
Replies: 45
Views: 3543

Re: Being given charity that I don't need

Wear a totally different shirt(design and color difference) and have a fake gold chain or tooth the next time you go and order different food item and see if she recognizes you and gives you the discount. On a serious note, you can gladly pay the difference as a tip (though you are only doing take o...
by niceguy7376
Mon Jun 03, 2019 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Help with avoiding double taxation in C Corp.
Replies: 9
Views: 561

Re: Help with avoiding double taxation in C Corp.

Are you the sole owner and employee of this Corp?

Any thoughts on why you did a C Corp instead of S Corp?
by niceguy7376
Mon Jun 03, 2019 2:52 pm
Forum: Personal Investments
Topic: Investment Advice for a Married Couple
Replies: 16
Views: 2499

Re: Investment Advice for a Married Couple

Total Annual Income: 220K pre-tax Her 401k (previous employer) at Schwab - 9k, no more active contributions, planning to move to Vanguard Her Beneficiary IRA - 120K Recently inherited after mother's death - Currently at Baird but planning to move to Vanguard Contributions to Retirement Accounts For...
by niceguy7376
Mon Jun 03, 2019 7:40 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 13977

Re: You May Never See Your Grandchildren Again

Rick,
I hope that you dont need to move to "Desert" from this 55+ retirement community because of people like these financial advisors.

A small spelling mistake that the proof readers missed - "Desert would have to wait - darn! "
by niceguy7376
Sun Jun 02, 2019 4:14 pm
Forum: Personal Investments
Topic: Solo 401k Question
Replies: 17
Views: 1208

Re: Solo 401k Question

So you (and some of your employees) already made contributions to SIMPLE IRA this year from the pay?
If so, then I think you need to wait for 2020 for Solo 401k.

If you are looking for Roth solo 401k plus a mega back door Roth capability, then you might need to go for custom plan.
by niceguy7376
Sun Jun 02, 2019 9:27 am
Forum: Personal Investments
Topic: Generous Grandparents and Child Investment Choices
Replies: 10
Views: 1506

Re: Generous Grandparents and Child Investment Choices

So are these accounts currently owned by OP's parents with beneficiary as kid? If so, should the OP's parents move the accounts to VG or OP can get ownership now itself? From a boglehead perspective, since the 18 year old has not touched the account in terms of withdrawls: If the OP's grand parents ...
by niceguy7376
Sat Jun 01, 2019 11:54 pm
Forum: Personal Investments
Topic: Low-ish income/low expenses: where to hold funds while waiting to figure out my tax situation?
Replies: 10
Views: 785

Re: Low-ish income/low expenses: where to hold funds while waiting to figure out my tax situation?

If you have any medical expenses, wouldn't it make sense to at least contribute enough to the HSA to cover those expenses? Since OP said HSA is NOT through employer, does OP gain any benefit in contribution at this low income level if they are going to withdraw immediately anyway? How will a Sole P...
by niceguy7376
Sat Jun 01, 2019 9:04 pm
Forum: Personal Investments
Topic: Low-ish income/low expenses: where to hold funds while waiting to figure out my tax situation?
Replies: 10
Views: 785

Re: Low-ish income/low expenses: where to hold funds while waiting to figure out my tax situation?

SIMPLE IRA is through W2 employer and needs to come through payroll deductions. Regular Roth IRA (hope you are contributing to Roth at this low income level) can be contributed till April of next year for this year Where is HSA from? Is it through W2 employer? If so, does the employer contribute any...
by niceguy7376
Sat Jun 01, 2019 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford to pay for our kid's college (at all)?
Replies: 234
Views: 14639

Re: Can we afford to pay for our kid's college (at all)?

She is worried that we could die tomorrow and we have never really been anywhere. If she applies that rule to real life, what does she think she accomplished or she will leave to the kids? I feel that it is still a life style change for the whole family that will bring the best result. In the meant...
by niceguy7376
Fri May 31, 2019 4:48 pm
Forum: Personal Investments
Topic: Employer vs Employee Solo 401K contributions
Replies: 20
Views: 580

Re: Employer vs Employee Solo 401K contributions

Another is to have the S-Corp make employer 401K contributions (up to IRS limits) which would lower business profit to a more reasonable/defensible level while saving FICA taxes as compared to raising compensation. For employer contributions to reach IRS limits (56K), you need to have employee sala...
by niceguy7376
Fri May 31, 2019 4:39 pm
Forum: Personal Investments
Topic: Roth v 401k at income levels
Replies: 18
Views: 1817

Re: Roth v 401k at income levels

General Questions asked to get a big pic of your retirement plans and expenses: Any kids? When do you plan on retiring What do you expect the expenses would be when you retire. At basic level, how much above the 12% limit are you in 22%? If you contribute the max to trad 401k and still be in 22%, I ...
by niceguy7376
Fri May 31, 2019 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Working for the Airlines - Value of Free Travel
Replies: 62
Views: 4910

Re: Working for the Airlines - Value of Free Travel

All employees get those benefits but they also are assigned a priority according to the org chart. So, if there are 4 seats available, then the executives get the first choice of taking the open seats and then the priority order goes through the next levels. 10 to 14 years back, a neighbor used to w...
by niceguy7376
Fri May 31, 2019 1:18 pm
Forum: Personal Investments
Topic: Employer vs Employee Solo 401K contributions
Replies: 20
Views: 580

Re: Employer vs Employee Solo 401K contributions

So, are you ok with no SS and medicare contributions as employee and not get SS credits?

How much company revenue are you talking about?
by niceguy7376
Thu May 30, 2019 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: How to preserve $10M+ in wealth owned by unsophisticated people?
Replies: 82
Views: 14508

Re: How to preserve $10M+ in wealth owned by unsophisticated people?

OP, Just curious as to what your current expenses are. You are in 40s with a young (and shopaholic and new immigrant to a developed country and came from a developing country - all the things that you listed) and with young kids. You retired with half a million dollars in bank. You are talking about...
by niceguy7376
Thu May 30, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford to pay for our kid's college (at all)?
Replies: 234
Views: 14639

Re: Can we afford to pay for our kid's college (at all)?

1. Paying $2300 per month for a HSA eligible plan is very high. I understand that the physician is an independent contractor but cant they get any better policies than this? 2. It is not clear to me about their cell phone bills as well. Did they buy $1200 worth of phones and also pay $250 per month ...
by niceguy7376
Thu May 30, 2019 9:09 am
Forum: Investing - Theory, News & General
Topic: Jim Cramer
Replies: 59
Views: 5460

Re: Jim Cramer

mikemikemike wrote:
Thu May 30, 2019 5:30 am
What am I missing here?
He is making ton of money doing this infotainment show.
by niceguy7376
Wed May 29, 2019 3:25 pm
Forum: Personal Investments
Topic: Stuck with IRA balance
Replies: 7
Views: 728

Re: Stuck with IRA balance

nextchapter wrote:
Wed May 29, 2019 2:50 pm
So about 6 years ago I made a silly mistake and opened a new IRA and contributed after-tax dollars to it.
It is not clear to me if this is a ROth IRA (you mentioned that you contributed After tax dollars) or a Traditional NON DEDUCTIBLE IRA (mention silly mistake).

Please clarify
by niceguy7376
Wed May 29, 2019 3:21 pm
Forum: Personal Investments
Topic: Married to an S-Corp owner
Replies: 12
Views: 1260

Re: Married to an S-Corp owner

My wife is 37, S-Corp owner (own 100% of shares), with five employees . I had her contribue twice to a SEP-IRA, but we were not sure this was the best option If the above SEP IRA contributions happened while she had employees, she is in a bigger mess. If a company had employees, then any retirement...
by niceguy7376
Wed May 29, 2019 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Reduce retirement contributions or take out a mortgage?
Replies: 23
Views: 1263

Re: Reduce retirement contributions or take out a mortgage?

yes, I've thought about renting but I'm too old to deal with stuffing my family of four in a small apartment that was last updated in the 1990s and the rent is too high for something nicer You can live in an independent house by renting it out. Trying to tie up the future employment offers because ...
by niceguy7376
Tue May 28, 2019 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Question about HSAs
Replies: 4
Views: 379

Re: Question about HSAs

I do think that bloom is wrong. Will update with any online examples. In your case, since you and kids are on separate plan than spouse, the limits are different for each of you. You should be able to do the family limit and spouse the individual limit. Make sure that you both have your own separat...
by niceguy7376
Mon May 27, 2019 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Parents as dependents and gift tax
Replies: 13
Views: 1207

Re: Parents as dependents and gift tax

For any post that asks about the amount to gift and the idea of gift tax, we need to direct them to a good wiki page to read and understand. This is one topic that most of the posters have no clear understanding. They only remember about "gift tax" and a yearly limit of "12-15K". OP, If you want to ...
by niceguy7376
Fri May 24, 2019 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Are there unique benefits to Amex or Discover cards?
Replies: 21
Views: 1965

Re: Are there unique benefits to Amex or Discover cards?

Agreed. I funded an indiegogo project that went south, seemingly everyone lost their money, not me. I paid with AmEx and filed a dispute about seven months after the fact. I didn’t think I would get anything by that late date but I got back every penny. I don’t know how they did it. I assume that A...
by niceguy7376
Tue May 21, 2019 2:44 pm
Forum: Personal Investments
Topic: Case Study: 27. How to invest? No 401k or healthcare offered
Replies: 14
Views: 1283

Re: Case Study: 27. How to invest? No 401k or healthcare offered

Hey all: my current situation Something interesting is I can open a SE 401K and fund it up to 19,000; even it I only make 500/month on the side SE and recognize it all as profit-it's all tax deffered and can go straight in. The plan of attack is: Find a HSA/health plan. Learn more about them. Max R...
by niceguy7376
Mon May 20, 2019 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and Cons of Refinancing Mortgage
Replies: 21
Views: 1674

Re: Pros and Cons of Refinancing Mortgage

delrinson wrote:
Mon May 20, 2019 10:39 am
We itemize deductions...
Are you really able to itemize deductions at 16% marginal tax rate and 2.75% mortgage rate on less than 300K?
by niceguy7376
Fri May 17, 2019 9:46 am
Forum: Investing - Theory, News & General
Topic: 401(k) at work. SepIRA or solo 401(k) for family side hustle?
Replies: 3
Views: 222

Re: 401(k) at work. SepIRA or solo 401(k) for family side hustle?

For his one person legal firm (assume there is not even a receptionist or manager type employee), he can start a solo 401k. Please clarify the below: 1. He is part of construction company with no income 2. He has his own legal firm 3. He and you have a side hustle that earns 5k to 15k this year. Is ...
by niceguy7376
Fri May 17, 2019 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Going rate for real estate commissions, ATL
Replies: 11
Views: 1087

Re: Going rate for real estate commissions, ATL

Check Duffy Realty.
They charge less to be a sellers agent.
by niceguy7376
Wed May 15, 2019 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: I accidentally retired, and need tax advice
Replies: 48
Views: 6282

Re: I accidentally retired, and need tax advice

Before the thread goes out of control on how OP needs to get back to work (that is an entirely different post), OP needs to provide more info that is clear so as to get advice to their original question. If OP could provide the info in the layout of my signature, it will help posters to understand a...
by niceguy7376
Mon May 13, 2019 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Benefits of becoming an independent contractor
Replies: 37
Views: 2971

Re: Benefits of becoming an independent contractor

cbr shadow wrote:
Mon May 13, 2019 5:22 pm
Situation B:
Start Single Member LLC
Do you need LLC?
by niceguy7376
Mon May 13, 2019 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Is a 401K Worth It as a Small Business Owner?
Replies: 24
Views: 1537

Re: Is a 401K Worth It as a Small Business Owner?

Outside of a 401k, FIdo SIMPLE IRA is one alternate choice. No fee and you get to invest in any Funds available in Fido.
by niceguy7376
Mon May 13, 2019 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Is a 401K Worth It as a Small Business Owner?
Replies: 24
Views: 1537

Re: Is a 401K Worth It as a Small Business Owner?

So, you dont have a safe harbor 401k but some other type where YOU (Employer) is contributing to a 401k? How much does Employer contribute to your and your wife 401k in this scenario per year? There are some companies that offer a small business 401k that costs a lot less than what you quoted in her...
by niceguy7376
Sun May 12, 2019 9:17 pm
Forum: Investing - Theory, News & General
Topic: Can I do a self employed 401k + backdoor roth
Replies: 5
Views: 436

Re: Can I do a self employed 401k + backdoor roth

I am more curious about your 401k plan (how can it be self employed if there are employees contributing to it) and how you are able to contribute 56K. Which provider is this and how much are their fees?
by niceguy7376
Sun May 12, 2019 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Hoping a quick S-Corp question . . .
Replies: 9
Views: 819

Re: Hoping a quick S-Corp question . . .

Giving it a bump for the sake of OP
by niceguy7376
Sat May 11, 2019 10:19 pm
Forum: Personal Investments
Topic: When will mortgage lender count my rental income?
Replies: 13
Views: 1107

Re: When will mortgage lender count my rental income?

tomtoms wrote:
Sat May 11, 2019 9:44 pm
OP here. It is under my name. Any inputs from anybody else? Much appreciated!
You need to provide more info if you want any more inputs.
What is your Debt to Income ratio that includes the rental mortgages and also the rents that come along with your own income?
by niceguy7376
Thu May 09, 2019 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Planning for 401K contributions two 2 non resident states.
Replies: 5
Views: 482

Re: Planning for 401K contributions two 2 non resident states.

COuld you clarify the following:

What is your setup? S Corp or Sole Prop.
by niceguy7376
Thu May 09, 2019 9:15 am
Forum: Personal Investments
Topic: When will mortgage lender count my rental income?
Replies: 13
Views: 1107

Re: When will mortgage lender count my rental income?

Do you own these rentals under a company (mortgages, tax returns etc) or under your Name (loans on your name). If under a company(or companies) - Loans should be under that name and rental income should be coming under that name. That way, what shows up in your personal tax return is just a K1. If y...
by niceguy7376
Tue May 07, 2019 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Walk away from my auto lease?
Replies: 154
Views: 7681

Re: Walk away from my auto lease?

Is it even worth it for the forum members to help OP but get ignored on the basic question they asked but never responded by OP?

Make and Model
by niceguy7376
Tue May 07, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: 529 strategy with no alternate beneficiaries
Replies: 21
Views: 1249

Re: 529 strategy with no alternate beneficiaries

What tax bracket are you currently in?
Which state do you reside to see if there is any state benefits for contributing to a 529
by niceguy7376
Mon May 06, 2019 3:04 pm
Forum: Personal Consumer Issues
Topic: Anybody try the Blue Apron or the like?
Replies: 77
Views: 5647

Re: Anybody try the Blue Apron or the like?

Went to local kroger store this weekend and they had similar packed dinners (need to be cooked at home) for $16 for two people.