Search found 503 matches

by theplayer11
Wed Nov 14, 2018 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: rule of thumb for using HSA funds?
Replies: 32
Views: 2372

Re: rule of thumb for using HSA funds?

Personally, I don't find it realistic to save receipts for the 30+ years I would need to in order to maximize the HSA. You do realize you are required to save proof of service (bills, EOBs, etc..) and payment (receipts, financial records, etc..) For at least three years after the tax filing deadlin...
by theplayer11
Tue Nov 13, 2018 3:31 pm
Forum: Personal Consumer Issues
Topic: Feeling uneasy about recent splurge
Replies: 40
Views: 3888

Re: Feeling uneasy about recent splurge

price of a mattress has little correlation with how good it is for your back.
by theplayer11
Tue Nov 13, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: FreeTaxUSA.com now has 2018 Return available.
Replies: 28
Views: 2945

Re: FreeTaxUSA.com now has 2018 Return available.

feh wrote:
Tue Nov 13, 2018 1:35 pm
Does anybody with a K-1 use FreeTaxUSA? My LLC membership is the one aspect of our return that is uncommon.
I entered k-1 info from s-corp last rear..no problems
by theplayer11
Mon Nov 12, 2018 6:51 am
Forum: Personal Consumer Issues
Topic: 30" or 36" induction range for remodel?
Replies: 36
Views: 2117

Re: 30" or 36" induction range for remodel?

tip: install a vent wider than the width of the stove.
by theplayer11
Sun Nov 11, 2018 7:58 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidies and single LLC
Replies: 27
Views: 2162

Re: ACA subsidies and single LLC

... My main point was that an LLC didn't really gain you anything. You can deduct the same exact business expenses as an LLC and as a sole proprietor (you file the exact same tax return). ... Electing to file as an S-Corp provides additional tax advantages. Making a subchapter S election may save y...
by theplayer11
Sat Nov 10, 2018 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA lowers QBI deduction?
Replies: 8
Views: 355

Re: Traditional IRA lowers QBI deduction?

Thanks, that makes sense.
So any thoughts on whether I should go tIRA or Roth in my example?
by theplayer11
Sat Nov 10, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA lowers QBI deduction?
Replies: 8
Views: 355

Re: Traditional IRA lowers QBI deduction?

clemrick wrote:
Sat Nov 10, 2018 9:54 am
Do you have any capital gains this year? That also affects the amount of QBI.
-3K, but that's already part of my AGI.
by theplayer11
Sat Nov 10, 2018 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA lowers QBI deduction?
Replies: 8
Views: 355

Re: Traditional IRA lowers QBI deduction?

Maybe the software is wrong? From quick search: "you will receive the 20% qualified business income (QBI) deduction on the lesser of your QBI or taxable income." Our taxable income is $45.6K contributing to Roths, but this is below our QBI of $57K. So shouldn't our QBI deduction be 20% of $45.6k, or...
by theplayer11
Sat Nov 10, 2018 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA lowers QBI deduction?
Replies: 8
Views: 355

Re: Traditional IRA lowers QBI deduction?

tIRA lowers your taxable income. therefore there is less for the 20% QBI to be applied to. therefore yes its lower. are you already doing a max t401k? otherwise i would leave it as a rIRA. unless you are already planning Roth conversions. then tIRA. Thanks for the reply. When I remove my HSA contri...
by theplayer11
Sat Nov 10, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Traditional IRA lowers QBI deduction?
Replies: 8
Views: 355

Traditional IRA lowers QBI deduction?

I was playing around with FreetaxUSA 2018 software and found that if I switched from a Roth IRA contribution($13k total for wife and I) to traditional, my QBI deduction dropped form $11,400 to $9,400. Our QBI was $57k. What would be the cause? I'm trying to figure out if we should contribute to a Ro...
by theplayer11
Fri Nov 09, 2018 7:19 am
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14498

Re: How much money are you leaving your kids after you die?

Our daughter doesn't know our net worth. She asks, but I tell her that my father didn't share that with me until I was well into my 40s/50s, and I'm inclined to do the same with her. Unsure about this ... Not to single out this poster, but does anyone else feel this rubs them the same way as it doe...
by theplayer11
Fri Nov 09, 2018 7:13 am
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14498

Re: How much money are you leaving your kids after you die?

Our daughter doesn't know our net worth. She asks, but I tell her that my father didn't share that with me until I was well into my 40s/50s, and I'm inclined to do the same with her. Unsure about this ... Not to single out this poster, but does anyone else feel this rubs them the same way as it doe...
by theplayer11
Thu Nov 08, 2018 7:54 pm
Forum: Personal Consumer Issues
Topic: Favorite "free stuff"?
Replies: 131
Views: 9649

Re: Favorite "free stuff"?

free business class airfares to Europe last 5 years by simply applying for credit cards
by theplayer11
Thu Nov 08, 2018 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14498

Re: How much money are you leaving your kids after you die?

munemaker wrote:
Thu Nov 08, 2018 7:12 pm
ThankYouJack wrote:
Tue Nov 06, 2018 1:04 pm
I'm curious, especially for those with assets (or planned assets) over $1million. Do you plan to leave your kids nothing, some or everything?
Whatever's left.
yup, that's the answer
by theplayer11
Sun Nov 04, 2018 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 7938

Re: Teaching kids there is an ample amount of money

I would never tell kids that we don't have to worry about money. Not sure what that would accomplish.
by theplayer11
Sat Nov 03, 2018 8:36 am
Forum: Personal Finance (Not Investing)
Topic: New ACA 2018 Dependent Income Rules?
Replies: 13
Views: 827

Re: New ACA 2018 Dependent Income Rules?

This is making my head hurt. I am struggling to understand all this and the consequences of making a mistake are huge for me. I'm trying to stay below the upper end of the ACA subsidy cliff. I have 2 teenage sons who both worked part time this year but neither made more than $12k. If I have to incl...
by theplayer11
Sat Nov 03, 2018 8:15 am
Forum: Personal Finance (Not Investing)
Topic: If you have credit monitoring do you need to freeze credit?
Replies: 26
Views: 1229

Re: If you have credit monitoring do you need to freeze credit?

you can freeze and unfreeze with Equifax and Trans union for free with a click of a mouse.
by theplayer11
Fri Nov 02, 2018 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: 45% increase in marketplace insurance
Replies: 72
Views: 4132

Re: 45% increase in marketplace insurance

We got under the cliff by maxing out I401k($49k)(plus company contribution($21k)), HSA($6,900), and Traditional IRA($13k)...$90K in deductions to get from a net business profit of $170K to under the ACA cliff for family of 3 of about $80k. It actually doesn't seem right getting a $6k subsidy on a ne...
by theplayer11
Wed Oct 31, 2018 5:41 pm
Forum: Personal Consumer Issues
Topic: 2019 Subaru Outback 2.5 vs 3.6
Replies: 43
Views: 4592

Re: 2019 Subaru Outback 2.5 vs 3.6

I'd go 3.6L, but I my normal choice is to always choose the bigger, more powerful engine. At some point, you might wish for more power. I feel it's unlikely that you'd be wishing for less power day to day. +1..If the difference in money is not a concern, I would always choose the bigger engine. Mos...
by theplayer11
Sun Oct 21, 2018 5:58 pm
Forum: Personal Consumer Issues
Topic: Beer - Strong German Style Lagers
Replies: 56
Views: 4860

Re: Beer - Strong German Style Lagers

If you are in New England, Jack's Abby House Lager is a helles and pretty good. Not as good as an authentic German style but close. Other than I've really only had success with Weihenstephaner Original but even that can really depend on age and storing conditions in the store. New England is quite ...
by theplayer11
Sat Oct 20, 2018 8:09 pm
Forum: Personal Consumer Issues
Topic: Pull kids from school for vacations?
Replies: 136
Views: 6029

Re: Pull kids from school for vacations?

sometimes you learn more out of school. We had no problems pulling our kids. They were good students, if not, the decision might have been tougher.
by theplayer11
Fri Oct 19, 2018 7:40 pm
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 138
Views: 10850

Re: Should we move to San Diego from east coast?

perfect weather for me is 4 distinct seasons..but to each their own
by theplayer11
Thu Oct 18, 2018 4:02 pm
Forum: Personal Consumer Issues
Topic: Jury duty - already booked vacation
Replies: 51
Views: 5519

Re: Jury duty - already booked vacation

I'm in my 50's and have never been called for duty. I'm self employed and business could not operate if I wasn't around. Would I just claim financial hardship if I were called?
by theplayer11
Sat Oct 13, 2018 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth filing FAFSA even if you know you'll get nothing?
Replies: 70
Views: 5080

Re: Is it worth filing FAFSA even if you know you'll get nothing?

if the school doesn't require it for merit aid and you don't need loans...then it's a waste of time. skip it.
by theplayer11
Sat Oct 13, 2018 9:05 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2995
Views: 587837

Re: What's Your Credit Card Rewards Strategy?

136k avios points will fly 2 people Business class from Bos or NY(probably other cities, haven't checked) to Madrid on Iberia. From there, hope on Ryan Air to cheaply fly to any European City. BA, Aer Lingus and Iberia all have 100k point credit card offers. I believe it's 50k points if spend 3k, 75...
by theplayer11
Thu Oct 11, 2018 1:08 pm
Forum: Personal Consumer Issues
Topic: Feeling Guilt among family/peers
Replies: 42
Views: 5268

Re: Feeling Guilt among family/peers

I understand. We reached FI before any of our brothers and sisters, built custom houses, did what we want, whenever we wanted, drive what ever brand car we wanted. We get treated subtly differently by SIL, BIL. Nothing direct....or overt.... but there is a subtle undercurrent, a space, between us t...
by theplayer11
Tue Oct 09, 2018 6:54 pm
Forum: Personal Consumer Issues
Topic: [What TV Show Have You Recently Watched?]
Replies: 924
Views: 100358

Re: [What TV Show Have You Recently Watched?]

anyone watching You on lifetime? New series, 5 episodes in, has me intrigued a bit.
by theplayer11
Mon Oct 08, 2018 6:38 am
Forum: Personal Finance (Not Investing)
Topic: What is your annual cost for health insurance?
Replies: 137
Views: 9891

Re: What is your annual cost for health insurance?

I thought I were one of the few unlucky that were being ripped off by Obama Care deal. Wow! There are so many unhappy people, yet the government is still running this scam. Yes, I say it is a scam. Here is why: I am 63, my wife 60 and my child is 20 (in college). Before Obama Care we used to pay ab...
by theplayer11
Sun Oct 07, 2018 11:45 am
Forum: Personal Finance (Not Investing)
Topic: What is your annual cost for health insurance?
Replies: 137
Views: 9891

Re: What is your annual cost for health insurance?

self pay HDHP-HMO-$8,700/yr family plan-$12k family deductible.
by theplayer11
Wed Oct 03, 2018 8:43 am
Forum: Personal Consumer Issues
Topic: Water Leak During New Home Construction
Replies: 40
Views: 2476

Re: Water Leak During New Home Construction

can't believe the plumber was so negligent
by theplayer11
Wed Oct 03, 2018 7:48 am
Forum: Personal Consumer Issues
Topic: New Apartment, city noise
Replies: 43
Views: 3334

Re: New Apartment, city noise

I'm a city guy, and I sympathize with the noise - but why is it better in the country? On the occasions I have been out hiking/camping, I hear bugs humming - which can get really loud to the point that it interferes with sleep. I recommend fans or soft classical music in the background. Give it a w...
by theplayer11
Sun Sep 30, 2018 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Why is Home Part of NW [Net Worth]
Replies: 98
Views: 6827

Re: Why is Home Part of NW

since net worth is a meaningless figure, why does it matter?
by theplayer11
Sun Sep 30, 2018 6:50 pm
Forum: Personal Consumer Issues
Topic: How to tell contractor you don't plan to pay him. [Roofing]
Replies: 65
Views: 6080

Re: How to tell contractor you don't plan to pay him.

Shingling over wet underlayment isn't ideal, but it isn't the end of the world either. It can take the water a while to evaporate trapped under shingles and that is the concern. I wouldn't do it with standing water on the roof, but I wouldn't sweat a damp roof because it rained earlier in the morni...
by theplayer11
Thu Sep 27, 2018 12:52 pm
Forum: Personal Consumer Issues
Topic: cleaning lady stealing
Replies: 49
Views: 7481

Re: cleaning lady stealing

I have friends who will go through the medicine cabinet of any house they happen to be in for any reason. Seems it's just second nature for them. If you have good stuff, you have to hide it or keep it locked up, otherwise it's considered up for grabs just like the cheese plate on the kitchen counte...
by theplayer11
Wed Sep 26, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for >2% owner in Scorp
Replies: 17
Views: 1301

Re: ACA subsidy for >2% owner in Scorp

You can't deduct the $2700 if a $6000 premium tax credit is taken on a $6000 premium, but you can if it is an $8700 premium. I'm still thinking this is an entry problem. and you would be right. :D After going through every entry in the Tax act software, I noticed I left the Medicare wages box blank...
by theplayer11
Tue Sep 25, 2018 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Fed up with health insurance situation
Replies: 117
Views: 7483

Re: Fed up with health insurance situation

This year it's $900/month for the three of us, going up to $1040/month in 2019 Anyone ever find themselves in a similar situation? Frankly I have not ever found myself in that situation, but if I did, I would "nope" right on out of the there. Those prices would make health insurance my highest expe...
by theplayer11
Tue Sep 25, 2018 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Fed up with health insurance situation
Replies: 117
Views: 7483

Re: Fed up with health insurance situation

As for the rising costs in health care, health care professionals need to do a better job with preventative medicine opposed to focusing on procedures for problems that could have been prevented.
by theplayer11
Tue Sep 25, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Fed up with health insurance situation
Replies: 117
Views: 7483

Re: Fed up with health insurance situation

self employed are getting hammered and from my experience most who don't think there is a problem get their insurance mostly paid for by their employers.
Premiums rose moderately until the ACA passed, then straight up.
by theplayer11
Tue Sep 25, 2018 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Someone stole my check from the mail, changed the amount, and deposited it
Replies: 61
Views: 7925

Re: Someone stole my check from the mail, changed the amount, and deposited it

how was the criminal able to change the $$ amount and the written amount on the check?
by theplayer11
Mon Sep 24, 2018 5:56 pm
Forum: Personal Consumer Issues
Topic: Ripped off by a locksmith
Replies: 75
Views: 5764

Re: Ripped off by a locksmith

it was your fault for locking yourself out..
by theplayer11
Mon Sep 24, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: S Corporation vs. LLC Partnership Logistics
Replies: 17
Views: 1544

Re: S Corporation vs. LLC Partnership Logistics

Easiest way to do payroll? Hire a payroll company. Trust me—you don’t want to do your own payroll tax. I am a CPA. I have a lot of s-Corp clients. Many of them have said, “I can do my own payroll.” None of them have ever succeeded. I do mine, and am 99% sure I do them correctly..thanks to help and ...
by theplayer11
Mon Sep 24, 2018 7:19 am
Forum: Personal Finance (Not Investing)
Topic: S Corporation vs. LLC Partnership Logistics
Replies: 17
Views: 1544

Re: S Corporation vs. LLC Partnership Logistics

Easiest way to do payroll? Hire a payroll company. Trust me—you don’t want to do your own payroll tax. I am a CPA. I have a lot of s-Corp clients. Many of them have said, “I can do my own payroll.” None of them have ever succeeded. I do mine, and am 99% sure I do them correctly..thanks to help and ...
by theplayer11
Sun Sep 23, 2018 6:54 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for >2% owner in Scorp
Replies: 17
Views: 1301

Re: ACA subsidy for >2% owner in Scorp

DSInvestor wrote:
Sat Sep 22, 2018 11:25 pm
Are you contributing to retirement plans like solo 401k, and/or IRA? If you have HSA compatible health insurance, are you contributing to HSA? These contributions reduce your AGI which will help you stay eligible for the premium tax credit.
yes, all maxed out
by theplayer11
Sat Sep 22, 2018 9:40 pm
Forum: Personal Consumer Issues
Topic: iPhone XS Max
Replies: 231
Views: 15988

Re: iPhone XS Max

I disagree....what does the new iphone do that is needed that an older model can't? ...Not buying the speed difference because it's nominal. You can’t be serious. The camera alone is vastly superior. “Needed” depends on your perspective. Does anyone “need” more than an economy car to get from point...
by theplayer11
Sat Sep 22, 2018 6:50 pm
Forum: Personal Consumer Issues
Topic: iPhone XS Max
Replies: 231
Views: 15988

Re: iPhone XS Max

I always find it funny when people get all uppity about the new iPhones. The fact is that the phone is likely the number 1 used piece of equipment/device/accessory/etc. by nearly everyone in the country besides their bed. If you think it is too expensive just buy a cheaper alternative, but don’t co...
by theplayer11
Sat Sep 22, 2018 6:24 pm
Forum: Personal Consumer Issues
Topic: iPhone XS Max
Replies: 231
Views: 15988

Re: iPhone XS Max

still confused how a few milliseconds faster matters to most people...yet so many use this argument. IMO is just a justification to buy the new shiny toy.
by theplayer11
Sat Sep 22, 2018 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for >2% owner in Scorp
Replies: 17
Views: 1301

Re: ACA subsidy for >2% owner in Scorp

doubled check all entries..giving up on taxact. No idea why it's not allowing self employment health insurance deduction of $2,700
by theplayer11
Sat Sep 22, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for >2% owner in Scorp
Replies: 17
Views: 1301

Re: ACA subsidy for >2% owner in Scorp

This message from Taxact is the crux of the matter: "An adjustment is required to your self-employed health insurance deduction. Of the $2,712 Marketplace premiums you paid, $2,712 were applied toward the premium tax credit. An adjustment is required because these same premiums cannot also be claime...
by theplayer11
Sat Sep 22, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for >2% owner in Scorp
Replies: 17
Views: 1301

Re: ACA subsidy for >2% owner in Scorp

OK, I think I found what TaxAct is doing. This is what they show: "An adjustment is required to your self-employed health insurance deduction. Of the $2,712 Marketplace premiums you paid, $2,712 were applied toward the premium tax credit. An adjustment is required because these same premiums cannot ...
by theplayer11
Sat Sep 22, 2018 11:38 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy for >2% owner in Scorp
Replies: 17
Views: 1301

Re: ACA subsidy for >2% owner in Scorp

Where are you deducting the $2700 net Insurance premium? If you are deducting it on Schedule A, it does not reduce your AGI and ACA MAGI. You need to deduct it on Form 1040 Line 29. If you are. I have no explanation for the behavior you are describing. Do you have an HSA qualifying HDHP? If so, are...