Search found 10 matches

by scarabrad
Fri Dec 20, 2019 8:04 am
Forum: Personal Finance (Not Investing)
Topic: High income and S corp reasonable salary
Replies: 7
Views: 755

Re: High income and S corp reasonable salary

Thanks all.

as Usual, very helpful discussion.

Finally figured out the “wash” discussion above.

SR
by scarabrad
Thu Dec 19, 2019 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: High income and S corp reasonable salary
Replies: 7
Views: 755

Re: High income and S corp reasonable salary

A wash compared to what? I am currently a single member LLC and cannot partake of QBI because I am over the 415k mark from other income sources. Without W2 income, I am unable to partake of the 20% QBI deduction (capped at 50% of W2 wages). I have a few low wage W2 employees but it would cap my QBI ...
by scarabrad
Thu Dec 19, 2019 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: High income and S corp reasonable salary
Replies: 7
Views: 755

High income and S corp reasonable salary

Would love some input hear, particularly from sir Spirit Rider (highly valued contributor!) Thinking about electing S corp status for my business, at the advice of my CPA. In order to simplify the discussion to follow, assume the following: 1) Business grosses 750,000 in income. 2) A reasonable sala...
by scarabrad
Fri Apr 27, 2018 4:03 pm
Forum: Personal Investments
Topic: Qualified Joint Venture (QJV) questions
Replies: 5
Views: 744

Re: Qualified Joint Venture (QJV) questions

To clarify...if I live in Massachusetts, a non community property state, I cannot file a husband wife business as a QJV but must elect LLC status, correct?
by scarabrad
Wed Apr 04, 2018 4:41 am
Forum: Personal Finance (Not Investing)
Topic: Reversing a corrective distribution made in error
Replies: 2
Views: 276

Reversing a corrective distribution made in error

Hi folks, Need some help from the experts (SpiritRider, any thoughts?). I've posted this elsewhere, with limited response. I had two employers last year in 2017 and mistakingly overcontributed around $5200 in employee contributions across two distinct unrelated 401k plans. My second employer origina...
by scarabrad
Mon Dec 11, 2017 8:30 pm
Forum: Personal Investments
Topic: ? On Maxing out solo 401k with 403b for 2017
Replies: 10
Views: 1304

Re: ? On Maxing out solo 401k with 403b for 2017

The aggregation rules, as so described in 26 CFR 1.415(f)-1 constantly reference 403(b) annuity contracts. My employer maintains a 403(b) for its hospital-based employees, but it functions essentially identically to a 401(k), with employee and employer contributions that are invested in any of a var...
by scarabrad
Tue Nov 21, 2017 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: ? SpiritRider to the rescue (husband/wife DBP/PS complexities)
Replies: 0
Views: 409

? SpiritRider to the rescue (husband/wife DBP/PS complexities)

Hi folks, Long time lurker and amazed at the wealth of information provided here. Have a quick question for the gurus on this forum, particularly SpiritRider (your insight and knowledge has been invaluable and most impressive). I have a DBP that is funded to support my 3 year average and that of my ...
by scarabrad
Sun Jul 10, 2016 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: 401k loan...need some boglehead advice!
Replies: 4
Views: 910

401k loan...need some boglehead advice!

Hey folks, Would love some input on the whole concept of 401k loans. I am having a hard time deciphering why these are generally frowned upon and would love to hear some feedback. Scenario: The last time the markets were at an all time high, I wanted to cash in some chips, to the tune of $25,000 out...
by scarabrad
Sat Jan 16, 2016 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed...US citizen attending college in Canada
Replies: 19
Views: 1658

Re: Advice needed...US citizen attending college in Canada

Great advice thus far.

By dual citizen, I assume you mean marry her off to a fine Canadian? Neither I nor my wife are Canadian!!!

At 17, she just might not be agreeable with this plan...

Thanks again for the input.

SR
by scarabrad
Fri Jan 15, 2016 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Advice needed...US citizen attending college in Canada
Replies: 19
Views: 1658

Advice needed...US citizen attending college in Canada

Bogle Wizards, Looking for a little bit of advice from those far more savvy than me. My daughter was accepted to and will likely attend the University of Toronto this upcoming fall. We live in the US and would like to take advantage of the favorable exchange rate between the USD and the CAD (somewhe...