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ubermax

Recognizing the changes imposed by the 2017 Tax Cuts & Jobs Act isn't the calculation methodology for 2018 the same as it was last year - I mean isn't the new 1040 and the 6 schedules just an abbreviated way of capturing the same tax data ? Now that you have read all the responses, what are you rea...

ubermax

Recognizing the changes imposed by the 2017 Tax Cuts & Jobs Act isn't the calculation methodology for 2018 the same as it was last year - I mean isn't the new 1040 and the 6 schedules just an abbreviated way of capturing the same tax data ?

ubermax

Frisco Kid , I can relate - DW and I are very top-heavy in tax deferred accounts and ,although the tax bite upon withdrawal is expected since we chose to defer taxes through the years , we never thought it would be as big an ouch each time we needed some extra dollars - we are both already taking fu...

ubermax

OP estimates of things at a future time are a funny thing , they seem to improve as we get closer to that future event (retirement) - would you care to share your current age and expected retirement age with the audience ?

ubermax

OP , so you're in a partnership and the plan smells like it could be a Cash Balance plan which typically has annual pay and interest credits - forgetting about the numbers not making sense to you , it seems incredible to me that you haven't a clue as to precisely what type of plan you have and how i...

ubermax

We have a checkbook , 3 ring , think it's called a desktop version - we may most bills online but there are a few that require a check , checks last us a long time - I download the activity periodically from our bank's website into an Excel spreadsheet when I want to "balance" the "register"

ubermax

In the Hartford area there's a small computer company called TAB computer - they also host a Saturday 9-11 technical talk show - for virus free browsing they recommend OpenDNS which is a web based browser rather than a download to your machine along with Malwarebytes which is a download - a technica...

ubermax

To the original question , I believe it can be real or a ploy by a certain party to start a bidding war and ultimately a higher price for the seller - money can do funny things to some people .

ubermax

For people who have already made the transition, does your expenses in retirement resemble that during the years leading up to retirement? If so, is that a coincidence, or is it because you are essentially doing the same things as before? For us it was a starting point of a budget and it gets tweak...

ubermax

I've been happy with TireRack & the fact that a distribution center is nearby is a bonus .

ubermax

Most important aspect of a lease is the money factor and residual value. the money factor impacts the finance charge and the residual ,selling price , and term determine the depreciation charge ; currently money factors are very small and the depreciation charge takes the lion's share of the monthl...

ubermax

All inflows from SS , pension , and retirement accounts (RMDs) go into a savings account at local bank - each inflow is apportioned via spreadsheet into 16 expense buckets , 15 specific and 1 gets the leftover after the other 15 are filed , we call it our "discretionary" bucket ; unfortunately we're...

ubermax

I also think leasing can make sense for retired people who want to view lease payments as being similar to just another utility bill in their monthly budget - it's hard to make a financial argument either way , lease or buy , because an accurate residual value is hard to determine prospectively - I ...

ubermax

ofckrupke wrote: ↑
Fri Apr 27, 2018 9:38 pm
Depends on your state.

Agree , CT for example may be unique because it bases their tax on federal income before the std. or itemized deduction is applied but I think in general states don't have to mimic federal rules which I believe ofckrupke alluded to .

ubermax

Most important aspect of a lease is the money factor and residual value. the money factor impacts the finance charge and the residual ,selling price , and term determine the depreciation charge ; currently money factors are very small and the depreciation charge takes the lion's share of the monthl...

ubermax

All great replies , in summary (1) Town Website/Assessor/Real Estate Info (for recent/comparable sales) (2) Zillow (3) Professional appraisal .

ubermax

Silk McCue wrote: ↑
Mon Mar 26, 2018 4:21 pm
Wow Just wow. I don’t think #Cruncher needs his extensive effort on behalf of the poster to be critiqued in this fashion.

I prefer to look at it as "peer review" Silkman - I think we all here on Bogleheads should welcome it , it's how we learn !!!

ubermax

ivk5 wrote: ↑
Mon Mar 26, 2018 3:47 pm
Just so there's no confusion, federal law does not cap your state/local and property taxes. It does limit the allowable itemized deduction for those items to 10k for federal income tax purposes.

thanks , you said what I meant but more accurately .

ubermax

But the new Federal tax law does NOT impose a limit on your total State and Local taxes... I thought state and local income taxes paid in 2018 along with all property taxes , typically house and auto , paid in 2018 were capped at 10K , if that's not true it's new to me - and that's separate from th...

ubermax

I looked at this a couple years ago and I think it was in the 70-80% of pre-retirement spending and which I also think is one of those rules of thumb like the famous 4% withdrawal rate .

ubermax

It's probably obvious to many but I think it's worth mentioning briefly that when you divide the 30 year inflated current salary (i.e. ICS) by the interest rate (i.e. i ) you get an amount that will provide the ICS in perpetuity when invested at rate i per annum - to me a couple of key terms in the ...

ubermax

Jack_R2 wrote: ↑
Fri Mar 23, 2018 9:22 pm
I still have my Dad's SS card. He was born in 1915. It is made of metal (looks like aluminum).

Interesting , my father was born in 1898 and it's paper , these facts would make good jeopardy questions

ubermax

I found the card itself to be too large for the slots in my wallet so I had to trim it down a bit to fit. It looks like the Amazon protector would only make it larger. Had mine laminated at a local Staples & also trimmed the laminated portion to fit my credit card case - have presented it this way ...

ubermax

We use an incredibly simple budgeting app that both DW and I can update called "goodbudget". This mostly accounts for our discretionary / credit card spend (repeating monthly costs like mortgage, childcare, utilities are not tracked on our budget since we have little to no control). We have differe...

ubermax

I use an Excel spreadsheet to calculate my taxes and necessary with holdings. It is pretty easy to do and can be used in future years as well. Me too , I reflect everything I know about the new tax rules for 2018 in my estimate - roughly 98% of our income comes from pension, RMD, and SS and those i...

ubermax

Internal Revenue Bulletin (IRB) 2018-10 dated 3/5/18 has the Standard Deduction for a joint return with both lives over 65 at $26,600 - there was some thought awhile ago that the adoption of chain cpi could change this as we go through 2018 , is this still a possibility or does this IRB represent fi...

ubermax

I didn't crunch the numbers like my guy Numbercruncher did, but that pension buyout seems very generous compared to other buyouts I've seen posted here. I would be very inclined to take it...and invest it conservatively. I agree - the lump sum as well as the 100%J&S are optional forms of benefit to...

ubermax

I don't understand the point of the calculations in the article. If you can determine the change in price of a bond given a change in yield, then you have access to bond math tools of some sort, like the spreadsheet PRICE function. If you have access to that, you also have access to something like ...

ubermax

Some additional explanation : I was able to duplicate the $100 price of the bond in that Investopedia article by valuing a temporary 10-year immediate annuity of $6 per year plus the final payment of $100 at the end of the 10th year using an interest rate of 6% per year - I'd be interested in knowin...

ubermax

Can someone quickly show how the $101 and $99.25 values for P(1) and P(2) were calculated? I got a term of exactly 10 years for a $100 bond priced at par and currently yielding 6% and so I assumed this was the bond in the example referenced by the OP - keeping everything the same but valuing this b...

ubermax

Sounds like you're at the poker table now , if you up your bid you could win or lose and possibly get the same outcome if you hold 'em , I'm now thinking about that Johnny Cash song , problem is how do we "know when" - Good Luck !!!

ubermax

I was wrong , the answer was right there all along in the 2018 Tax Rate Schedules as was pointed out to me several times , brain freeze maybe - thanks Oldcomputerguy, Kaneohe, Jebmke, House Blend ( using the midpoint nails it for the Tax Tables ) , and Rkhusky .

ubermax

For Oldcomputerguy it's the 2018 Table that I'm interested in and for Kaneohe & Jebmke a couple of things : (1) I agree that the tax delta for adjacent $50 income ranges is small but I anticipate an 8K taxable income drop in 2018 and (2) At this point I have no idea how the IRS develops the tables ...

ubermax

As far as I know, the structure published in this Kitces article are still accurate The new Tax Brackets have been published but I don't see where the Tax Tables have been released - on that worksheet that I noted there are two spots that require a Tax Table (very specific) lookup , that article do...

ubermax

The food at the dinners that I've been to in the past have been allright ; they're betting on a couple of commission sales to probably more than pay the dinner bill and the restaurant may be giving them a break also .

ubermax

Does anyone know if the 2018 Tax Tables , either final or preliminary, have been published ; the "Qualified Divs.& Cap. Gain Tax Worksheet" ,for example, requires inputs in two spots from those Tables.

ubermax

As far as can tell the 2018 tax brackets have been published but not the Tax Tables which are used if you're required to use the Qual.Divs.& Cap Gains Worksheet - has anyone seen 2018 Tax Tables ? I believe BogleGrappler alluded to a manual calculation using 2018 Rates

ubermax

A couple of years ago I created 2 Excel workbooks , one for the current filing and another to estimate the upcoming years' tax liability - for 2018 I got information on the tax bill changes impacting our return , mainly the 10K limit for state income and property tax deductions and the 26.6 K stand...

ubermax

We swear by the liquid Terro ant baits - we cut a manila folder into small squares and put a drop on each and then put them at various spots on the kitchen counter - it can take a few days for them to come out of the woodwork , take a sip, and then march back to the nest but it works very well .

ubermax

mmmodem wrote: ↑
Thu Feb 08, 2018 5:09 pm
Newer LTE iPads have an Apple SIM which is universal for most carriers. http://www.apple.com/ipad/apple-sim/
You won't need one from Verizon.

Thanks mmmodem , I clicked that link and it doesn't look like Verizon is on the list of Apple partners ??

ubermax

Do you carry a iPhone, Android, or another smart phone? If your Verizon account is like most you can switch your phone to Mobile-Hotspot mode and pair the iPad to your phone when you need to use it away from your home wifi and that will save you on having to pay an additional monthly fee to have th...

ubermax

I cut the HD in half with a circular saw ( metal blade) and chuck it in household waste at the local dump - it then goes to an incinerator in another town , the remaining parts I leave in the recycled electronics shed at same dump - I use to sledge the HD but now I clamp it down and rip through it .

ubermax

Just purchased an iPad for DW at the local Apple store and the sales person indicated that she could add the new device to our Verizon account on her own via Settings implying that a choice of cellular carriers would appear on the iPad's screen - on the way home we stopped by the Verizon store and ...

ubermax

I still have a couple of old mechanical pencils - one is a Pentel P207 ( .7mm lead) and the other is a Paper Mate PhD Ultra ( .5mm lead)- both made in Japan - our daughter used the P207 through high school and college along with an accompanying hi-polymer (plastic) white eraser also made by Pentel ...

ubermax

mega317 wrote: ↑
Tue Feb 06, 2018 10:06 am
Once you sell there is no more basis. Then when you use the proceeds to buy, there is a new basis independent of the first holding.

+1 gain or loss on the sales (assuming after tax accounts) measured by comparing proceeds to cost basis & then a new basis established in VFIAX

ubermax

I was surprised to see that Acronis (True Image) was missing from Ponderings List ; is that because the OP specifically wanted a "service" rather than backup software ?

ubermax

I'm lead to believe one can do their 2017 taxes with TT and make the decision to pay after viewing the results of your information - is this accurate? Have used online TT for years and like it ; you have to pay before you can see and print the actual tax forms and any worksheets filled in - you can...

ubermax

4.) All of this is being factored at essentially a 0 money factor -- the current financing special to buy is 0% for 72 months. These days the APRs and money factors are all low across pretty much all brands but nevertheless the lion's share of the lease payment is the depreciation cost ; I would su...

ubermax

Also retired , not sure if what we do is a budget or an "expense organizational tool" but each of our 4 monthly inflows go via spreadsheet into 17 buckets , 16 of which have specific names , i.e. "electric" and the 17th is labeled discretionary - it's basically what's leftover after those 16 are fi...

ubermax

Specific ID gives you the most flexibility when selling in taxable accounts. I use it for all my Vanguard taxable accounts, both funds and individual securities (where I frequetly dividend reinvest). Years ago I used that method but now with the numbers I'm working with it's a waste of time and I'm...

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