Search found 125 matches

by doon
Wed Apr 15, 2020 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Turbotax & profit sharing
Replies: 2
Views: 129

Turbotax & profit sharing

I have about 20K in revenue from my sole proprietorship this year. This is just a side income and I already made maximum allowed 401k contribution for 2019 through my employer.So only contribution I will be allowed to make for my sole proprietorship will be profit sharing portion. In turbo tax when ...
by doon
Thu Apr 09, 2020 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Question about dormant accounts
Replies: 1
Views: 197

Question about dormant accounts

I am helping a family member manage his financial affairs who was in United States for a while before going back to his home country. The family member has couple of bank accounts, 401k, IRA etc. He does not have an address in US and does not have US phone number anymore. All these accounts were ign...
by doon
Wed Oct 23, 2019 12:40 pm
Forum: Personal Consumer Issues
Topic: Car choice help
Replies: 24
Views: 1576

Re: Car choice help

I'd take a step back and first look at what the repairs priced out really are. My DS managed to misjudge a distance and sideswiped a landscape truck. 10 year old Fusion. Totaled. Damage is dents to fender, 2 doors and small amount in rear quarter. I bought back after total for $695 and lost the sal...
by doon
Wed Oct 23, 2019 9:26 am
Forum: Personal Consumer Issues
Topic: Car choice help
Replies: 24
Views: 1576

Re: Car choice help

Dottie57 wrote:
Wed Oct 23, 2019 9:20 am
Why not the Subaru CrossTrek? Fun SUV.
We do need 7 seater from time to time. But the ease of use is less of a concern now. So any 5 seater is out of question.
by doon
Wed Oct 23, 2019 8:13 am
Forum: Personal Consumer Issues
Topic: Car choice help
Replies: 24
Views: 1576

Car choice help

My DW ( removing DS ) was in an accident and our insurance company has deemed our 8 year old Odyssey a total loss due to expensive repairs. It is unfortunate as we were planning to run our Odyssey to ground and then switching to a luxury SUV. Our fallback is going to be one of the CPO Odyssey or bra...
by doon
Tue Oct 01, 2019 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Willingly going from lucrative job to unemployed?
Replies: 132
Views: 15403

Re: Willingly going from lucrative job to unemployed?

Do you hate technology job or technology sector? What I mean is you can put your skills in slower paced industries such as non-profits, state or local govt which will give you a bit more laid back lifestyle while still taking care of monthly bills and living expenses. You don't have to go from 400 k...
by doon
Thu Jul 18, 2019 1:50 pm
Forum: Personal Consumer Issues
Topic: Extended warranty for kitchen appliances
Replies: 31
Views: 2155

Re: Extended warranty for kitchen appliances

Based on my experience they are worth every penny. At least that's how it has worked out for us. I bought Bosch microwave oven (with convection ), traditional convection over and gas cook top through PC Richard & Sons. I paid about $5000 for the appliances and about $500 for extended warranty. In la...
by doon
Thu Jul 11, 2019 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Question about dental insurance
Replies: 4
Views: 476

Question about dental insurance

My dependent is getting a multi year procedure done that started in 2018 and continues on in 2019. My company changed insurances from Metlife(2018) to Guardian(2019). For some of the procedures that were performed in end of 2018 but billed in early 2019, Guardian is refusing to pay for those as they...
by doon
Fri Jun 14, 2019 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Professional work titles
Replies: 30
Views: 2942

Re: Professional work titles

OP - I have experience with banking and insurance. Both come under the umbrella of financial services. In banking a VP is a starting position. In insurance VP is fairly large position. Again I am generalizing a lot. Because there are lot of nuances within banking across different companies. It usual...
by doon
Tue Jun 11, 2019 10:25 am
Forum: Personal Consumer Issues
Topic: Tips for new pet owner [puppy]
Replies: 71
Views: 4866

Tips for new pet owner [puppy]

We are getting a puppy in couple of weeks and even though I am very happy for the new addition I cant help but be a little concerned about doctor and medical cost and other cost of new puppy. So wanted a few tips in that regard: - How much should I expect to pay for a doctor visit on an average? - I...
by doon
Wed Jun 05, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Paying half of my paycheck on health insurance?
Replies: 63
Views: 5077

Re: Paying half of my paycheck on health insurance?

OP - You said you are in early 20's. Not sure if you would qualify to be on your parents insurance if they have good health insurance. I believe you can be on your parents insurance till 26 after ACA.
by doon
Tue May 28, 2019 9:01 am
Forum: Personal Consumer Issues
Topic: Bored Eleven Year Old Patient in Walking Cast
Replies: 26
Views: 1832

Re: Bored Eleven Year Old Patient in Walking Cast

Block based programming on laptop or smart device such as scratch or tynker or any other such thing.

Scratch is free and tynker is paid. Both are great options plus youtube videos.

https://scratch.mit.edu/
https://www.tynker.com/
by doon
Thu May 16, 2019 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Reservations about job offer
Replies: 65
Views: 4569

Re: Reservations about job offer

OP - I will come at it a bit differently. I had a something similar happen to me in my previous life. I was offered the title and grade but no team reporting to me at the start commensurate with title and grade. The manager echoed similar thoughts that "does not want to rock the boat" yada yada.... ...
by doon
Mon May 13, 2019 4:14 pm
Forum: Personal Consumer Issues
Topic: DIY air purifier for $25
Replies: 16
Views: 2210

Re: DIY air purifier for $25

I have been using this for 10 years. I can safely say it was my invention. Because I had been using this before I ever saw consumer reports article. Works two ways for us 1.) We need white noise in the night so the box fan helps a lot. 2.) Cleans air pretty well. I can see the filter getting black a...
by doon
Thu May 09, 2019 12:19 pm
Forum: Personal Investments
Topic: Hedge against the decline of the Realtor profession
Replies: 48
Views: 4665

Re: Hedge against the decline of the Realtor profession

Build your retirement with diversified portfolio
Learn a new skill -

-->programming
-->sales of technology and software

I am not sure you can buy a stock can hedge against a particular profession
by doon
Thu May 09, 2019 11:32 am
Forum: Personal Investments
Topic: 35 and 33 years old, 2 kids: Please advise on Asset Allocation/Tax Efficiency/Risk Minimization/Loan Repayment
Replies: 9
Views: 1750

Re: 35 and 33 years old, 2 kids: Please advise on Asset Allocation/Tax Efficiency/Risk Minimization/Loan Repayment

New annual contributions $18,000 for my 401k (capped) 50% Employer Match with ESOP into 401K ~$100K for long term retirement investments You are making close to $100k contribution towards retirement. What portion of that is in tax deferred? Only your 401k? Have you considered solo 401k or something...
by doon
Thu May 02, 2019 1:47 pm
Forum: Personal Consumer Issues
Topic: How much House should I Buy?
Replies: 51
Views: 5489

Re: How much House should I Buy?

OP - My comment is based on my personal experience. We bought our home when kids were toddlers. If I had to do it all over again I would delay house purchase till I really need good school district. No matter what a house increases expenses and reduces savings rate. So may be you can run rent vs buy...
by doon
Thu Apr 18, 2019 3:34 pm
Forum: Personal Consumer Issues
Topic: Final Word from Cyber Security types?-Password Manager for non-techie??
Replies: 43
Views: 2594

Re: Final Word from Cyber Security types?-Password Manager for non-techie??

I have been using lastpass for 2-3 years. It is only 12 buck a year which really reasonable given how easy it has made to add 2FA plus creating strong passwords. It is available on all devices, sync up easily, allows me to use various 2FA tools such as google authenticator, yubikey etc. Autofill wor...
by doon
Mon Apr 01, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: LLC Solo 401k - Accountant says can't be done
Replies: 15
Views: 831

Re: LLC Solo 401k - Accountant says can't be done

Thank you for all the responses. I was pretty sure I did not get it wrong. LLCs treated as a disregarded entity and using Schedule C can use a Solo 401k without paying themselves via W-2. Have your accountant re-read Publication 560 Chapter 4. The worksheet for calculating the max employer contribut...
by doon
Mon Apr 01, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: LLC Solo 401k - Accountant says can't be done
Replies: 15
Views: 831

LLC Solo 401k - Accountant says can't be done

Last year I started an single member LLC and it made a gross revenue of $100K. I went to him to get my taxes done this year. I told him that I opened Solo 401k with Fidelity and have made $18.5 k in employee contribution and I need him to do that calculation after expenses so that I can make the emp...
by doon
Mon Apr 01, 2019 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Overcontribution in 2017
Replies: 0
Views: 217

Overcontribution in 2017

I over contributed $2k in my 401k because of job switch in the middle of 2017. I asked my current employers 401k plan provider to refund the over contribution and they did so in 2018 before April 15th of that year. In 2019 I am receiving a 1099-R with a code of P (Code P indicates that the taxpayer ...
by doon
Mon Mar 25, 2019 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Two factor authentication loophole?
Replies: 32
Views: 3678

Re: Two factor authentication loophole?

You can always remove the app and use browser on ipad to log in to the website. Most browsers have an option to "Request Desktop Site" which makes the websites think its a normal desktop/laptop rather than a personal device like a phone/tablet etc. https://www.google.com/search?client=firefox-b-1-d&...
by doon
Wed Jan 23, 2019 11:02 am
Forum: Personal Finance (Not Investing)
Topic: If you work in several states as a mngmt consultant, where do you file your taxes?
Replies: 19
Views: 1454

Re: If you work in several states as a mngmt consultant, where do you file your taxes?

I have worked as management consultant at a Big 4 firm in the past and I used to get separate W2's for all the states where I worked during that year. For example at one point I filed 3 separate state taxes NJ (where I reside), NY and MI. So I believe you have to file separate state taxes. I am not ...
by doon
Wed Nov 21, 2018 10:25 am
Forum: Personal Consumer Issues
Topic: Xfinity Mobile
Replies: 25
Views: 1952

Re: Xfinity Mobile

I am planning on switching from Verizon to Xfinity Mobile. My phone is currently under a plan with my daughter and her husband. I have two questions. 1. I was told at the Comcast/Xfinity store that I would need to provide the current account number along with the PIN. Is it correct that they need t...
by doon
Tue Aug 07, 2018 1:12 pm
Forum: Personal Consumer Issues
Topic: Whole house generator
Replies: 31
Views: 2624

Whole house generator

I am in the process of getting quotes for a whole house generator. The range of quotes I have received are: Low end - 16 KW - Generac - $8,400 Mid point - 20 KW - Kohler - $9,600 High end - 22 KW - Generac - $10,190 The sense I am getting is that they want to sell the biggest consumer product in the...
by doon
Mon Jul 30, 2018 12:25 pm
Forum: Personal Consumer Issues
Topic: Garage doors
Replies: 13
Views: 1623

Garage doors

My existing garage doors came with the house and are almost 18 years old. Each of the door has some issue or the other. Despite of those quirks they seems to be working and don't show any sign of dying. On top of that my DW backed into partially open garage door and that has bent one of the doors ou...
by doon
Tue Jun 26, 2018 8:57 am
Forum: Personal Consumer Issues
Topic: Basement waterproofing questions
Replies: 10
Views: 1295

Re: Basement waterproofing questions

Thanks for all the responses. 1. I took care of grading couple of years ago. I raised the grade around the house and had the downspout outlets run 20-30 ft from the house. 2. I will turn off the de-humidifier and see how that works. My guess is this is old efflorescence when the grading was not prop...
by doon
Mon Jun 25, 2018 8:05 am
Forum: Personal Consumer Issues
Topic: Basement waterproofing questions
Replies: 10
Views: 1295

Basement waterproofing questions

I have a partially finished basement and I want to start using my unfinished portion in a more productive way. On the unfinished side I have seen some efflorescence on the floor and also on the concrete blocks. I have two sump pumps and they usually fill up during rains etc. I did have some musty sm...
by doon
Tue Jun 19, 2018 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Wills & Trust Lawyer
Replies: 8
Views: 1172

Re: Wills & Trust Lawyer

I've been sort of frozen by indecision for some time now. I hear you. I have been thinking of doing this for more than a year. And I know how important it is. I understand the variations in pricing based on individual needs. But I wish there was a sort of project plan (even verbally is fine) that l...
by doon
Tue Jun 19, 2018 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Wills & Trust Lawyer
Replies: 8
Views: 1172

Re: Wills & Trust Lawyer

Thanks for all responses. I found lawyers.com & martindale fairly useful. For folks in my area I am planning to reach out to following based on ratings on above resources: Vella, Singer & Associates, P.C. Herold Law, P.A. Mason, Griffin & Pierson, P.C. I can update you guys through PM or continuing ...
by doon
Mon Jun 18, 2018 2:37 pm
Forum: Personal Finance (Not Investing)
Topic: Wills & Trust Lawyer
Replies: 8
Views: 1172

Wills & Trust Lawyer

I am looking for a lawyer who can help me create will and trust in NJ (preferably Central). I have done some background reading but it seems to me that pricing on this is very opaque. Talking to couple of people and reading through the forums I see a very wide range. I understand that this is a cust...
by doon
Wed May 30, 2018 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: New tax law -LLC vs S-Corp
Replies: 5
Views: 1153

Re: New tax law -LLC vs S-Corp

Assuming $170K business profit ~= $160K net self-employment earnings. Maximum one-participant 401k contributions = $18.5K + ($160K * 20% = $32K) = $50.5K. Your taxable income would range from $160K - $12K = $148K - ($0 - $50K) = ($98K - $148K) +- other taxable income, deductions or credits. Bottom ...
by doon
Tue May 29, 2018 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Solo 401k questions
Replies: 5
Views: 780

Re: Solo 401k questions

No. Your answer is in your question. A default single member LLC by default treated by the IRS as a "disregarded entity". This means for income tax purposes it is treated a sole proprietorship. To qualify as a "self-employed individual" under 401c, you must have net self-employment earnings in the ...
by doon
Mon May 28, 2018 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k questions
Replies: 5
Views: 780

Solo 401k questions

I have couple of questions regarding Solo 401k 1. Can I keep solo 401 k even if the S-Corp has ceased to exist? I have read contradictory statements about this. I am okay with the hassle and filing 5500ez every year. I want to keep it open because it allows me to continue doing backdoor Roth. My cur...
by doon
Thu May 24, 2018 8:07 am
Forum: Personal Finance (Not Investing)
Topic: New tax law -LLC vs S-Corp
Replies: 5
Views: 1153

New tax law -LLC vs S-Corp

I am about to start work as a contract program/project manager and in the process of setting up LLC or S-Corp or one of these entities that make most sense. It seems that new tax law provide additional benefit to pass-through income as long as it is under $157k. I think the benefit diminishes after ...
by doon
Tue Apr 10, 2018 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Bay Area - Switch Companies to Avoid Price Out?
Replies: 18
Views: 3129

Re: Bay Area - Switch Companies to Avoid Price Out?

I have worked in a big 4 in the past doing similar work as you but focusing on financial & insurance firms in NYC area. I know a few people who moved out of high cost of living areas but kept serving clients in high cost of living areas. Travel is part of the Big 4 consulting game. So its not that h...
by doon
Tue Mar 27, 2018 11:34 am
Forum: Personal Consumer Issues
Topic: Question for physicians-- is my taking call worth it?
Replies: 61
Views: 8254

Re: Question for physicians-- is my taking call worth it?

In the past whenever I have a dilemma I have found that changing the perspective helps me evaluate the problem really well. If I were in your shoes I would view it as a public service where a qualified doctor is providing great service to people who need it. "Really good money" is just bonus. See if...
by doon
Thu Mar 15, 2018 2:51 pm
Forum: Personal Investments
Topic: Paul Merriman's Ultimate Buy-and-Hold portfolio using various index funds or ETFs
Replies: 11
Views: 6528

Re: Paul Merriman's Ultimate Buy-and-Hold portfolio using various index funds or ETFs

OP - I made that mistake early on in my investing life where I tried to mimic one of these portfolios (Merriman, couch potato etc.) The portfolio stayed close to original for a year or so. I changed jobs, 401k's changed and basically I realized I cannot for various reasons stay true to any portfolio...
by doon
Tue Mar 13, 2018 8:51 am
Forum: Personal Investments
Topic: Can I Retire??
Replies: 16
Views: 3502

Re: Can I Retire??

You did not mention what your expected expenses would be in retirement. Based on the numbers you provided your incoming would be Your pension 17k + His Pension 12k + his SS 19k = Total 48K. Assuming 3% withdrawal = 38K Grand total 86K before tax Assuming your insurance is taken care of I would say y...
by doon
Thu Mar 08, 2018 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Excess 401k contribution
Replies: 5
Views: 751

Re: Excess 401k contribution

You definitely need a specific accounting of their numbers. I'm not saying any of these are answers just possibilities. Are these numbers from your respective W-2 Box 12 entries? Or are they based on your numbers? Sometimes people use their 401k account deposits, when it actually goes by deductions...
by doon
Wed Mar 07, 2018 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Excess 401k contribution
Replies: 5
Views: 751

Re: Excess 401k contribution

Not clear what caused this. Could be just a subtraction error or failing to note the total deferrals you made from both plans. I just want clarification as to why they think a different amount. I provided them proof of previous 401k deferrals also. Its a simple math $20397-$18000 = $$2397 Another p...
by doon
Tue Mar 06, 2018 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Excess 401k contribution
Replies: 5
Views: 751

Excess 401k contribution

Because I switched employers in 2017 I ended up making more that 18K in pre-tax 401k contribution. Employer 1 - $8151 till End of April 2017 Employer 2 - $12246 May-Dec 2017 Total contribution $20,397 I sent a letter to retirement administrator explaining this and they ended up refunding only $1140....
by doon
Thu Feb 22, 2018 8:51 am
Forum: Personal Investments
Topic: Help invest an extra $5,000 per month
Replies: 19
Views: 3017

Re: Help invest an extra $5,000 per month

I vote for backdoor. As others suggested keep a good emergency fund. However I am not in favor of paying off mortgage. In 3-5 years when you plan to be single income your saving ability will decrease. Right. If you have the child in the timeframe you propose you won’t be done paying off the mortgag...
by doon
Thu Feb 22, 2018 8:20 am
Forum: Personal Investments
Topic: Help invest an extra $5,000 per month
Replies: 19
Views: 3017

Re: Help invest an extra $5,000 per month

I vote for backdoor. As others suggested keep a good emergency fund. However I am not in favor of paying off mortgage. In 3-5 years when you plan to be single income your saving ability will decrease. So if I were you i would bulk up my investible assets. I personally am not planning to pre-pay the ...
by doon
Tue Feb 20, 2018 11:28 am
Forum: Personal Investments
Topic: Bonus contribution to 401k
Replies: 9
Views: 2100

Re: Bonus contribution to 401k

Bonuses get taxed pretty hard more than a regular paycheck so I would opt for as much as I can since it's tax deferred. When it comes to tax liability, it won't make a difference. It'll all net out in the end with the tax return, assuming that the OP is deferring the same amount for the year regard...
by doon
Tue Feb 20, 2018 10:35 am
Forum: Personal Investments
Topic: Bonus contribution to 401k
Replies: 9
Views: 2100

Bonus contribution to 401k

My firm has given an option to select a percentage of bonus to be contributed to 401k. I dont Is there any downside to it other than not having bonus money in my hand? Company match does not happen with each pay check rather it is end of year match. So I will not have an issue with that aspect. Than...
by doon
Thu Feb 15, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Rant about relocation mortgage assistance, and a question
Replies: 54
Views: 4061

Re: Rant about relocation mortgage assistance, and a question

About 5 years ago when I needed a mortgage loan with an s-corp that was only 1 year old, I had to jump through hoops to qualify for jumbo loans. My need was much more modest of $650K. In the end I ditched all the traditional mortgage providers and called a lot of smaller banks with portfolio loan pr...
by doon
Mon Feb 12, 2018 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford to move to a lower paying career?
Replies: 53
Views: 6638

Re: Can I afford to move to a lower paying career?

I vote Option # 2. - Full time tenure track position. - Will solve health insurance issue for few years. - Add some roth and get some 401k match - Closer to family. - May be its just me but I would be more comfortable with delaying full 3% draw down from the $3.5 Mill. - Teaching can be a ramp down ...
by doon
Fri Feb 09, 2018 11:32 am
Forum: Investing - Theory, News & General
Topic: Another 4% rule
Replies: 1
Views: 455

Another 4% rule

Another article questioning the 4 % rule. From the article A better approach, Mr. Pfau says, is to avoid looking at your balance and focus instead on saving a consistent amount annually.Mr. Pfau recommends that someone with 30 years until retirement and a portfolio with 60% in stocks and 40% in bond...