Search found 18 matches

by not logged in
Tue Jan 21, 2020 12:06 pm
Forum: Personal Consumer Issues
Topic: If you could only listen to one podcast...
Replies: 119
Views: 8364

Re: If you could only listen to one podcast...

Stay Tuned with Preet Bharara https://www.wnycstudios.org/podcasts/preetbharara Former Attorney for the Southern District of New York gives his take on current events, politics, and law. Interviews with authors, journalists, and politicians. Stay Tuned is my favorite too. I also enjoy Preet’s subsc...
by not logged in
Thu Jan 02, 2020 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Secure Act and IRA contributions
Replies: 15
Views: 1269

Re: Secure Act and IRA contributions

Your interpretation is correct. Vanguard has not yet updated its IRA contribution and RMD pages for the SECURE Act (i.e. the elimination of the age limit on IRA contributions and the increase in the RMD start age from 70 1/2 to 72).
by not logged in
Wed Jan 01, 2020 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: SECURE Act and RMDs
Replies: 62
Views: 6506

Re: SECURE Act and RMDs

Vanguard has not updated its RMD calculation page for the SECURE Act either. I turn 70 1/2 in 2020 and the page shows I must take a RMD this year. I’m a little surprised that there’s not at least a notice that the RMD start has been delayed to 72 for people turning 70 1/2 after 2019. Seems like it’s...
by not logged in
Sat Dec 28, 2019 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: QCDs and the Secure Act
Replies: 3
Views: 353

Re: QCDs and the Secure Act

There is a change to QCDs, however, that coordinates QCDs with the repeal of 70 1/2 maximum age for IRA contributions. This provision reduces the otherwise allowable exclusion from income for QCDs by the amount of any deductions for IRA contributions after age 70 1/2. So only if you make no deductib...
by not logged in
Sun Oct 13, 2019 10:23 pm
Forum: Personal Consumer Issues
Topic: 1 week camping tour, Phoenix-El Paso, suggestions?
Replies: 21
Views: 1386

Re: 1 week camping tour, Phoenix-El Paso, suggestions?

Thanks for the replies, keep them coming. I will be leaving Phoenix on November 7 and getting to ElPaso on the 14th. Any suggestions for a camping sot an hour or two east of Phoenix?? Lost Dutchman State Park, about 40 miles east of downtown Phoenix, is very nice. https://azstateparks.com/lost-dutc...
by not logged in
Wed Mar 27, 2019 8:15 pm
Forum: Investing - Theory, News & General
Topic: 529 for possible future grandchild held as grandparent named as beneficiary
Replies: 12
Views: 1005

Re: 529 for possible future grandchild held as grandparent named as beneficiary

The special 529 5-year spread for gift tax applies to “contributions”. Technically change of beneficiary to lower generation is not a “contribution” although it’s treated as a transfer for gift tax purposes. So not clear to me that the 5-year spread is available. But, as Spirit Rider notes, your lif...
by not logged in
Wed Mar 27, 2019 7:04 pm
Forum: Investing - Theory, News & General
Topic: 529 for possible future grandchild held as grandparent named as beneficiary
Replies: 12
Views: 1005

Re: 529 for possible future grandchild held as grandparent named as beneficiary

What would be the dollar amount of the new 529 account? A contribution to a 529 plan is treated as a completed gift for gift tax purposes. You cannot make a gift to yourself, so if you are both owner and beneficiary there wouldn’t be a gift initially. But there would be a gift when you change the be...
by not logged in
Thu Dec 21, 2017 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 72220

Re: Tax Bill Omnibus Thread

It's been pointed out that there is a $500 dependent credit for children 17 and over, but it starts phasing out at a lower income level, $110K for MFJ. I'm wondering, for a kid that turns 17 in November 2018, am I eligible for the $2,000 or $500 child tax credit (ignoring the income phase-out)? $50...
by not logged in
Wed Dec 20, 2017 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 72220

Re: Tax Bill Omnibus Thread

Folks, If the personal exemption is suspended, what is the tax benefit of claiming my children as the dependent? Please enlightened me. KlangFool The bigger child tax credit, which is now $2000 instead of $1000 and applies to married couples up to 400k and individuals up to 200k. It takes the combi...
by not logged in
Sat Dec 16, 2017 11:27 pm
Forum: Personal Investments
Topic: Mixing Roth and Non-Roth IRA Money
Replies: 6
Views: 1314

Re: Mixing Roth and Non-Roth IRA Money

My 401(k) is also one big pot. I appreciate (and share) your concern about wanting the flexibility to make non-pro rata investments in the sub-accounts. When I raised it at my company I got essentially blank stares and did not pursue. I have both Roth and regular IRAs, and can accomplish my overall ...
by not logged in
Sat Nov 11, 2017 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Rules When Put Options Bought to Hedge Index ETF
Replies: 2
Views: 467

Re: Tax Rules When Put Options Bought to Hedge Index ETF

The ETFs and the put options are likely a tax straddle. The straddle rules are quite complex. Generally recognition of a loss on a position that is part of a straddle is deferred until the other positions of the straddle are disposed of. There are special holding period rules for straddle positions,...
by not logged in
Thu Nov 09, 2017 6:01 pm
Forum: Personal Investments
Topic: Would an NY 529 contribution reduce city income taxes?
Replies: 7
Views: 832

Re: Would an NY 529 contribution reduce city income taxes?

Just to be clear for a married couple it's a deduction up to $5,000 for each (for contributions to his or her own NY 529 account), or up to $10,000 together.
by not logged in
Thu Nov 09, 2017 8:37 am
Forum: Personal Investments
Topic: convert IRA to Roth or increase 401k contribution
Replies: 8
Views: 719

Re: convert IRA to Roth or increase 401k contribution

Another factor to consider if you live in a state with an income tax is whether there’s a state exclusion for the income from a Roth conversion. For example in NY if you are at least 59 1/2, there is an $20,000 annual exclusion for retirement retirement income (including income from a Roth conversio...
by not logged in
Tue Mar 24, 2015 6:24 am
Forum: Personal Consumer Issues
Topic: Google voice
Replies: 57
Views: 10633

Re: Google voice

In addition, Sprint customers can integrate their mobile number with Google Voice. Among other nifty features, this permits forwarding mobile calls to landlines (including VoIP). For example, my mobile calls are configured to ring on my office phone during business hours and my home line the rest o...
by not logged in
Mon Mar 23, 2015 2:37 pm
Forum: Personal Consumer Issues
Topic: Google voice
Replies: 57
Views: 10633

Re: Google voice

Google Voice coupled with an OBI VoIP adapter can also be used for your home phone. http://www.obitalk.com/info/home There's an upfront cost for the adapter (~$50) but no monthly cost thereafter except for international calls (which as mentioned are quite cheap). I've had an Obi 202 for 6 months and...
by not logged in
Thu Mar 05, 2015 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: How are Carry forward Capital Losses handled in Divorce?
Replies: 10
Views: 2155

Re: How are Carry forward Capital Losses handled in Divorce?

From IRS Publication 17: "Joint and separate returns. If you and your spouse once filed separate returns and are now filing a joint return, combine your separate capital loss carryovers. However, if you and your spouse once filed a joint return and are now filing separate returns, any capital loss c...
by not logged in
Wed Mar 04, 2015 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Are US Treasury bonds subject to withholding for nonresident
Replies: 1
Views: 482

Re: Are US Treasury bonds subject to withholding for nonresi

Interest on Treasuries is exempt from Chapter 3 withholding under the portfolio interest exemption, provided you deliver a Form W-8BEN to the paying agent. See portfolio interest discussion starting on p. 27 of Publication 515 (Treasuries are in "registered" form, so you can ignore the the registere...
by not logged in
Wed Feb 25, 2015 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Safety of Vanguard online access
Replies: 28
Views: 3233

Re: Safety of Vanguard online access

As a further safeguard, you can also limit access to your account to recognized computers, mobile devices, etc. Recognized devices are those that you used to access your Vanguard account prior to implementing this restriction.