Search found 492 matches

by harmony
Mon Sep 10, 2018 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Value if div & share price are all that's known?
Replies: 2
Views: 212

Re: Value if div & share price are all that's known?

Thanks Bogglizer. That's how I did the math too. I wanted to double check before I encouraged the executor to keep looking for this. Paperwork is on the way as I understand it. We've been emailing equations back and forth wondering if we have it right or not.
by harmony
Sun Sep 09, 2018 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: Value if div & share price are all that's known?
Replies: 2
Views: 212

Value if div & share price are all that's known?

Executors of an estate of which I am an heir have reason to believe an old stock certificate may have been lost. A dividend of $6000 was paid in 2010 (as seen on a line from the decedent’s 2010 tax return). The 2010 annual dividend for the stock was 1.185%. The largest portion of the annual dividend...
by harmony
Fri Jul 13, 2018 8:22 am
Forum: Personal Consumer Issues
Topic: Thesaurus Help Please
Replies: 12
Views: 760

Re: Thesaurus Help Please

Carolinaman, Investor seems like the best word to me so far too, but I am not the only one deciding on or financing this tribute, thus the wording needs to meet the approval of a few others. Since this tribute will be in a permanent format which may appear on social media in the future (of which we ...
by harmony
Fri Jul 13, 2018 1:01 am
Forum: Personal Consumer Issues
Topic: Thesaurus Help Please
Replies: 12
Views: 760

Re: Thesaurus Help Please

Not a crossword puzzle, just creating a tribute for a dear friend, where privacy is important; thus a euphemism could work. It should not have a negative connotation though, just a word that would be a little less obvious than investor, or shareholder. FINANCIER would fit, but it’s too specific. A m...
by harmony
Fri Jul 13, 2018 12:23 am
Forum: Personal Consumer Issues
Topic: Thesaurus Help Please
Replies: 12
Views: 760

Thesaurus Help Please

I am looking for a word which is a synonym of, or could be a euphemism for investor or shareholder. It should be longer than investor, but shorter than shareholder; about 9 or 10 letters long. I've googled, but so far haven’t found a word that fits the need. Thank you.
by harmony
Fri Apr 13, 2018 6:46 pm
Forum: Personal Consumer Issues
Topic: Fender bender in parking lot, he said she said. What's the effect on my going to be?
Replies: 17
Views: 1601

Re: Fender bender in parking lot, he said she said. What's the effect on my going to be?

I was in a similar situation, only mine was the car that wasn’t moving at the moment of impact. In fact I was honking my horn since I saw how distracted the other driver was. I gave a recorded statement to my insurance company in which I stated that I was not moving. I did not want my insurance to h...
by harmony
Wed Apr 11, 2018 10:23 pm
Forum: Investing - Theory, News & General
Topic: Any value investor buying a Russia fund?
Replies: 92
Views: 6933

Re: A good time [price wise] to buy Russian Stocks?

Valuethinker wrote: ↑
Yes Russian managements and controlling shareholders steal from minority shareholders and foreigners. Read Bill Browder's book Red Notice on the death of Serge Magnitsky (his lawyer in Moscow, Browder was a hedge fund manager).
+1
by harmony
Tue Mar 20, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: State Tax ? Resident / Non-Resident
Replies: 3
Views: 347

Re: State Tax ? Resident / Non-Resident

I read the home state out-of-state credit form over again. It says: Only residents with a tax liability in another state . . . may reduce their tax liability by claiming an out-of-state credit. While he will be filing the out-of-state form to get his refund and pay the sales tax due, he had no incom...
by harmony
Tue Mar 20, 2018 3:55 pm
Forum: Personal Finance (Not Investing)
Topic: State Tax ? Resident / Non-Resident
Replies: 3
Views: 347

Re: State Tax ? Resident / Non-Resident

Generally he owes a non-resident return to the state for wages where he worked. He also owes a return to his state of residence for all his income; they will usually allow him a credit for taxes paid to the state where he worked. He is responsible for paying any balance due in either state. If ther...
by harmony
Tue Mar 20, 2018 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: State Tax ? Resident / Non-Resident
Replies: 3
Views: 347

State Tax ? Resident / Non-Resident

I’m helping a family member with taxes. He is a nonresident of a neighboring state which withheld the correct amount. Normally he would file an out-of-state-credit form from his resident home state to get the proper amount transferred in. However, this year he is due a refund in the nonresident stat...
by harmony
Wed Mar 14, 2018 12:11 am
Forum: Personal Consumer Issues
Topic: Online Phrase Creation Tool
Replies: 2
Views: 333

Re: Online Phrase Creation Tool

Thank you very much. That was sure quick. It didn't create a phrase I could use, but it saved me a whole lot of time trying.
by harmony
Tue Mar 13, 2018 11:19 pm
Forum: Personal Consumer Issues
Topic: Online Phrase Creation Tool
Replies: 2
Views: 333

Online Phrase Creation Tool

Is there an online tool (not a phone app) which can take 10 letters of my choice and create several short phrases with them? I want to use 10 significant letters to create a gift for a special occasion. It might not create a phrase I can use, but I'd like to give it a try.
by harmony
Mon Mar 12, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct and alternatives
Replies: 119
Views: 12507

Re: TaxAct and alternatives

Is Audit Defense worth that much? https://www.taxact.com/support/21940/2015/tax-audit-defense-frequently-asked-questions They don’t even review your return first. I would rather have the ability to review my own prior years tax forms and do tax planning for future years though. I got Windows 10 just...
by harmony
Tue Mar 06, 2018 9:32 am
Forum: Personal Consumer Issues
Topic: Cheapest way to get spare car keys
Replies: 32
Views: 4782

Re: Cheapest way to get spare car keys

We had that problem with our Honda keys. A family member made a replacement key for one he thought he lost while on a trip. When he got home with the vehicle, the remaining key still at home would no longer work. We took it to our Honda service center to have it reprogrammed. We told the Honda servi...
by harmony
Sun Mar 04, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Questions on 2017 TaxAct Download version
Replies: 1
Views: 195

Re: Questions on 2017 TaxAct Download version

We hardly ever use the interview questions, so we always get the download version of TaxAct so we can get right to work on the forms. For 2017, I first ordered Plus, but when I couldn’t get a Schedule C to load up, I called TaxAct and they said that if I need to do a Schedule C I would need to get F...
by harmony
Sun Mar 04, 2018 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question: Foreign Tax Credit & Capital Gains
Replies: 10
Views: 779

Re: Tax question: Foreign Tax Credit & Capital Gains

I have a situation somewhat similar to yours. However, I only owned the funds (an inheritance) from Jan. - May 2018, so maybe not enough time for any foreign tax to be applied. For the period of 2018 before I sold, I did earn some dividends, but no capital gains. When I look at the 1099-DIV I see Bo...
by harmony
Sat Mar 03, 2018 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: CD - Early Withdrawal and Reinvest
Replies: 11
Views: 1078

Re: CD - Early Withdrawal and Reinvest

The fine print I am picking up for some of the more attractive rates on “special certificates” is a full year of interest penalty for early withdrawals. No wonder they seemed so competitive. This isn’t always stated on their websites. I had to call to find this out.
by harmony
Fri Mar 02, 2018 10:59 am
Forum: Personal Consumer Issues
Topic: Part-Time or seasonal jobs - Feed The ROTH
Replies: 13
Views: 1432

Re: Part-Time or seasonal jobs - Feed The ROTH

If you are on a ranch (or have access to a suburban garden), find the crop you enjoy cultivating and sell the excess in your farmer’s market. If you grow tomatoes you won’t need to be so careful about when you harvest them. They are the least labor-intensive edible that we have grown in our garden. ...
by harmony
Fri Mar 02, 2018 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Big umbrella increase: anyone else's risen dramatically?
Replies: 26
Views: 2828

Re: Big umbrella increase: anyone else's risen dramatically?

Does a son or daughter keep his/her own car (which they insure themselves) garaged on your property? This fine distinction made a difference on our umbrella premium. Our umbrella policy's fine print includes extended liability coverage for all family members who reside with us, evidenced by their ke...
by harmony
Wed Feb 28, 2018 9:34 pm
Forum: Personal Consumer Issues
Topic: What age is too old to stop hostelling?
Replies: 54
Views: 5513

Re: What age is too old to stop hostelling?

I hosteled in the UK for several weeks on a road trip with some friends many years ago when we were all in our twenties. Those memories meld together in a seamless flow of some of the most wonderful experiences of my life. There was one exception though. We were asleep in a dorm-style hostel near Ab...
by harmony
Wed Feb 28, 2018 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: TreasuryDirect website and 1099-INT taxable bonds
Replies: 7
Views: 1077

Re: TreasuryDirect website and 1099-INT taxable bonds

Thank you for posting this. I made a note of this since I sold some I-bonds in January of this year so I’ll be looking for the 1099-INT next January. Are you saying Treasury Direct did not mail you a 1099-INT tax form this January for EE bonds that you sold in 2017?
by harmony
Sat Feb 24, 2018 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

Well at least they gave you the information upfront so you could look it up for yourself and plan for it. https://www.investopedia.com/terms/h/honorarium.asp Maybe you had to pay self-employment taxes, but you could deduct your expenses. (Not asking, though.) An independent contractor usually draws ...
by harmony
Sat Feb 24, 2018 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

With all due apologies/gratitude to the OP, I will try to respond quickly to CollegePrudens. If your W-2 job and 1099-MISC are from the same univeristy, then I’d certainly question the reason for a separate 1099. If your W-2 and 1099 came from different sources and you believe you do not meet the de...
by harmony
Sat Feb 24, 2018 11:04 am
Forum: Investing - Help with Personal Investments
Topic: Inherited stocks, what would you do?
Replies: 20
Views: 2025

Re: Inherited stocks, what would you do?

I probably would long forget the capital loss for tax purposes before I would be able to take advantage of that. . . If my short term investment gives a small gain, I guess that will be offset by the current loss on the stock shares now. Net capital losses can be used to offset ordinary income. You...
by harmony
Fri Feb 23, 2018 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

^If OP follows the instructions for filling out Schedule C, he will be instructed to claim his expenses. When he does this the IRS may well take an interest. In the court case referenced above, the person tried to claim some expenses against his low income. This got the IRS’ attention. Why should OP...
by harmony
Fri Feb 23, 2018 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

If FICA compliance is too much, then in the future, the business owner should go through a temp agency and have them do the HR work. It’s not just one week of work in principle because the business owner has already asked the OP to be a fill-in in the future. OP can do whatever he wants this year, b...
by harmony
Fri Feb 23, 2018 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

This year sets a precedent and the likely expectation on the part of the business owner of the continuance of the status quo going forward. It depends whether the OP still wants to work with this person and under what presumptions. Do line 21 this year and that's what the business owner will expect ...
by harmony
Fri Feb 23, 2018 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

^because on Wednesday OP posted this:
However, I have asked my neighbor to talk to her accounting about making me a part-time employee since she has asked if I could fill-in in the future...
by harmony
Fri Feb 23, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

If I am following, at least three tax pros here are recommending to put this 1099-MISC on line 21 and wait for correspondence from the IRS, then decide what to do. That’s still a hassle every year. If OP goes for Line 7, this won’t be happening year after year. Sure, this business person may not hir...
by harmony
Fri Feb 23, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

Let’s think of this more from the OP’s perspective and less from the business owner’s perspective. If OP continues doing these short-term periods of work for this business person (as OP indicated upthread he is interested in doing) and she doesn’t provide Worker’s Compensation Insurance, then he is ...
by harmony
Fri Feb 23, 2018 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

When OP receives a 1099-MISC for this income, it will come with these instructions: Box 7. Shows nonemployee compensation. . . If you believe you are an employee and cannot get the payer to correct this form, report the amount from box 7 on Form 1040, line 7 . . . So do the pros believe that it woul...
by harmony
Fri Feb 23, 2018 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

Previously posted: See also p. 25 of Publication 15 (Circular E), Employer's Tax Guide https://www.irs.gov/pub/irs-pdf/p15.pdf Part-Time Workers Part-time workers and workers hired for short periods of time are treated the same as full-time employees, for federal income tax withholding and social se...
by harmony
Fri Feb 23, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

So OP, if you don't mind, please come back and tell us if you think you were an employee or an independent contractor. I posted a link to a checklist earlier in this thread. Where do you think your work fit? And for those who are the tax pros, is there a third option, neither employee, nor independe...
by harmony
Fri Feb 23, 2018 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

The 1040 instructions p. 22 say that if you didn’t receive a W-2 (despite your efforts to do so) then the income belongs on line 7 https://www.irs.gov/pub/irs-pdf/i1040gi.pdf Missing or Incorrect Form W-2? Your employer is required to provide or send Form W-2 to you no later than January 31, 2018. I...
by harmony
Thu Feb 22, 2018 10:15 pm
Forum: Investing - Help with Personal Investments
Topic: transfers and funds available to trade in brokerage account
Replies: 7
Views: 690

Re: transfers and funds available to trade in brokerage account

I have wondered that too. Trades seem to be settling a lot faster lately. Maybe it's time to review their regulations: https://investor.vanguard.com/investing/online-trading/trading-penalties Yesterday I transferred $10K from my bank to VG. This morning it was available to trade though I also saw a ...
by harmony
Thu Feb 22, 2018 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

Workman’s Compensation Insurance would not only protect her employees, but would also cover some business liability in the case of the injury of an employee if the business were found to be at fault. It can be a steep but necessary climb when a business hires employees. If they don’t want Workman’s ...
by harmony
Thu Feb 22, 2018 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal deductible Trad Contribution
Replies: 20
Views: 1415

Re: Spousal deductible Trad Contribution

We’ve been doing just what you are asking about. Only we are not in the Peace Corps and we have a lot less 2017 earned income to invest between the two of us. Something to watch out for in the future as your amount of earned income may be decreasing: Funds may have a minimum investment for an IRA. O...
by harmony
Thu Feb 22, 2018 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: is inheriting land out of an LLC a taxable event?
Replies: 3
Views: 496

Re: is inheriting land out of an LLC a taxable event?

The LLC could have made itself subject to some terms dictated by the mother’s trust. The family should take both of these legal documents to a qualified professional to decipher the nuances for them. We have very little to go on since LLC rules can vary a lot.
by harmony
Thu Feb 22, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

A learning opportunity presents: Let's look together just a bit further down at the 1099 instructions found on pp. 1 and 2 of the pdf: https://www.irs.gov/pub/irs-pdf/i1099msc.pdf Trade or business reporting only. Report on Form 1099-MISC only when payments are made in the course of your trade or bu...
by harmony
Thu Feb 22, 2018 12:20 am
Forum: Personal Finance (Not Investing)
Topic: is inheriting land out of an LLC a taxable event?
Replies: 3
Views: 496

Re: is inheriting land out of an LLC a taxable event?

I am not sure of the answers to your questions, so please don’t draw firm conclusions from any of these ideas I am bringing up. Has there been a big increase in the land value since it was put into the trust LLC? If this happened very recently, it might have even dropped in value since then. If it w...
by harmony
Tue Feb 20, 2018 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Maximize our Social Security Benefits
Replies: 4
Views: 920

Re: Maximize our Social Security Benefits

When there is an eight years age spread between spouses, then it is perhaps more likely that the older spouse will be resting in Green Acres for a few extra years while the younger spouse will be taking the larger of the two benefits. Since your wife will receive much higher SS benefits on your reco...
by harmony
Tue Feb 20, 2018 8:56 pm
Forum: Investing - Theory, News & General
Topic: Statistic:Percent of people in LTC with a surviving spouse?
Replies: 8
Views: 1351

Re: Statistic:Percent of people in LTC with a surviving spouse?

Sometimes a younger and healthier spouse who is also the caregiver is what prevents or shortens the need for long term care. See p. 228 of this book "Last Chance to Get it Right: How to Avoid Eight Deadly Mistakes Made with Money" by J. Thomas Moore. https://books.google.com/books?id=yv1Z3O9orGIC&pg...
by harmony
Tue Feb 20, 2018 7:40 pm
Forum: Investing - Help with Personal Investments
Topic: High ER funds with large cap gains - what to do ?
Replies: 10
Views: 1139

Re: High ER funds with large cap gains - what to do ?

If you or your spouse are getting close to needing long term care and you don’t have good LTC insurance; then if these funds are withdrawn in the same year when you have big LTC expenses, the taxable income portion may be partially deducted on Schedule A.
by harmony
Tue Feb 20, 2018 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

Here's a 20-point checklist for the owner of the business. OP can probably fill it out accurately enough to know if he was an Independent Contractor (1099) or an employee (W-2). https://www.walthall.com/wp-content/uploads/2014/09/IRS-Indep-Contr-20-Point-Checklist.pdf If you answer “Yes” to all of t...
by harmony
Mon Feb 19, 2018 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

Here's a tax form which might be helpful, especially the instructions, if not the form itself. Maybe take this over to the neighbor and ask for her help filling it out. This will alert her to her responsibility and she can take care of it now, if she hasn't already. Is it possible that she did pay F...
by harmony
Mon Feb 19, 2018 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

To keep your neighbor and yourself out of trouble, ask her to give you a proper W-2. She might have a late fee and she may have to pay some other employment taxes such as FUTA if required for your state. If you don’t get the W-2 in time, file for an extension. If she does this right the first time a...
by harmony
Mon Feb 19, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

If using Line 21 “Other Income”, then neither the employer’s nor the employee’s share of FICA gets paid. The employer’s share of the FICA should have been paid by the employer. Filing Schedule C at least gets the employee’s share of FICA paid, but it could create more problems. That’s why I would tr...
by harmony
Mon Feb 19, 2018 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

Instead of OP paying all of the FICA taxes as if he was self-employed, I’d recommend he ask the employer to pay this as she should have done. There is time yet before the end of February apparently. If she has other employees she would know this requirement. Topic Number 154 - Form W-2 and Form 1099...
by harmony
Mon Feb 19, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4603

Re: Misc Income [how to report with no 1099]

It may be that there is more than just your income tax that is still owed: https://www.irs.gov/individuals/employees/tax-withholding The employer is supposed to pay half of the FICA tax. When you pay your part, it may expose the employer. It may be better to ask the employer to make this right earli...