Search found 1613 matches

by Soon2BXProgrammer
Thu Jan 21, 2021 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Sanity Check Taxes - Schedule C - Hand Made Items - Cost of goods sold? 0r non-incidental materials?
Replies: 6
Views: 394

Re: Sanity Check Taxes - Schedule C - Hand Made Items - Cost of goods sold???? 0r non-incidental materials???

That is my understanding. You can skip part III, and include all expenses in part II. My understanding (I am not a cpa) is that the IRS cares less about the categories for listing expenses than that you can show records of the expenses and know what went where in the return. Meals and other things ...
by Soon2BXProgrammer
Wed Jan 20, 2021 11:42 pm
Forum: Personal Finance (Not Investing)
Topic: Sanity Check Taxes - Schedule C - Hand Made Items - Cost of goods sold? 0r non-incidental materials?
Replies: 6
Views: 394

Re: Sanity Check Taxes - Schedule C - Hand Made Items

What am I missing? Is there a simpler way to do this? Not much simpler but sounds eligible for Schedule C-EZ? Edit: whoops, look like it doesn't exist anymore. Yep, i wish. Don't forget Schedule SE if applicable. Thanks, yes, its applicable and will be included. There are relatively new rules for s...
by Soon2BXProgrammer
Wed Jan 20, 2021 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Sanity Check Taxes - Schedule C - Hand Made Items - Cost of goods sold? 0r non-incidental materials?
Replies: 6
Views: 394

Sanity Check Taxes - Schedule C - Hand Made Items - Cost of goods sold? 0r non-incidental materials?

A friend of mine, started a sole proprietorship, and they make hand made items. I didn't want to give her bad advice so i thought I'd double check with others first. She reports her business on the cash basis. Currently there is no inventory. They are commissioned to make an item, buys supplies, mak...
by Soon2BXProgrammer
Wed Jan 20, 2021 12:52 pm
Forum: Personal Investments
Topic: Best place to open a solo 401k?
Replies: 66
Views: 3268

Re: Best place to open a solo 401k?

I'm looking to do MBR, so those won't work. I know about employee fiduciary, but recently found another firm I rather work with, who claims to be a TPA. So I'm trying to make sure they are actually legit I'm unaware of any other firm that is a full service TPA that offers aftertax 401k, in the pric...
by Soon2BXProgrammer
Wed Jan 20, 2021 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Life Insurance as a Tool For Estate Planning
Replies: 45
Views: 2037

Re: Life Insurance as a Tool For Estate Planning

I live outside Boston. I'm a semi-retired lawyer. i like to talk to as many people as I can - that's how I learn. Some people are generous with their time, others not so much. I never know until I try. Recently I was introduced to a Boston tax/estate lawyer, and I just had a long conversation with ...
by Soon2BXProgrammer
Wed Jan 20, 2021 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Mechanics of teen's 1st tax return
Replies: 13
Views: 554

Re: Mechanics of teen's 1st tax return

We have done this. Here's what we do: "Here you go, kiddo: This is tax-prep software. It's like a computer game. Use it to do your tax return and I will help you go over it." The only "gotcha" is that the kiddo will not know about kiddie tax and that requires the parents' tax re...
by Soon2BXProgrammer
Wed Jan 20, 2021 9:48 am
Forum: Personal Investments
Topic: $300 Financial Planner: Who was it?
Replies: 4
Views: 1009

Re: $300 Financial Planner: Who was it?

Are you talking about Mark Zoril / Planvision / eMoney?

viewtopic.php?f=2&t=301444&newpost=5747797
by Soon2BXProgrammer
Wed Jan 20, 2021 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Should I paydown 1% interest family loan?
Replies: 39
Views: 2027

Re: Should I paydown 1% interest family loan?

skipper wrote: Wed Jan 20, 2021 9:09 am (a) I would not have charged you interest (usury)
I believe the rate is similar to the IRS minimum for loans. They probably did this on the up and up. If you want to charge less then the minimum, then you effectively are gifting the interest payment to the recipient every eyar.
by Soon2BXProgrammer
Wed Jan 20, 2021 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Don't enjoy being a federal supervisor: is the problem with me?
Replies: 30
Views: 3874

Re: Don't enjoy being a federal supervisor: is the problem with me?

Former Fed HR manager here: You need to return to your previous position. 100x agree with this. It is far more important for you to be happy and productive, then to be a position that has the value to be more productive. Consider this, if it sucks your soul from you and you leave government, are yo...
by Soon2BXProgrammer
Tue Jan 19, 2021 6:37 pm
Forum: Personal Consumer Issues
Topic: Amazon Firestick vs. Roku
Replies: 44
Views: 2193

Re: Amazon Firestick vs. Roku

Roku.. its less tied to any one streaming platform.
by Soon2BXProgrammer
Tue Jan 19, 2021 1:51 pm
Forum: Personal Consumer Issues
Topic: any suggestions for best 65" TV under $1000?
Replies: 40
Views: 2352

Re: any suggestions for best 65" TV under $1000?

Vizio 65 https://www.costco.com/CatalogSearch?dept=All&keyword=vizio+65 V series = skip M series is good (older ones used to be their top of the line, but then they made the P set of series and cheapened the M series a bit) P/PQ/Q/PQ-X = high quality I have a P/PQ/PQ-X series 65. i really like i...
by Soon2BXProgrammer
Tue Jan 19, 2021 1:28 pm
Forum: Investing - Theory, News & General
Topic: [wiki] Callan periodic table of investment returns
Replies: 40
Views: 3330

Re: [wiki] Callan periodic table of investment returns

CABob wrote: Tue Jan 19, 2021 1:27 pm
l1am wrote: Tue Jan 19, 2021 12:03 am So... I should hold REITs?
YES in 2006, 2012, and 2014
NO in 2007, 2008, and 2011

:twisted:
Bahahhahahaha.... can you give me a forecast for the next 10 years, the top returning asset class by year?
by Soon2BXProgrammer
Tue Jan 19, 2021 9:18 am
Forum: Investing - Theory, News & General
Topic: Do you believe in the Efficient Market Hypothesis?
Replies: 118
Views: 5467

Re: Do you believe in the Efficient Market Hypothesis?

The Efficient Market Hypothesis is described at https://en.wikipedia.org/wiki/Efficient-market_hypothesis . EMH basically states that asset prices reflect all available information and that it's impossible to beat the market over time. I'm guessing that most Bogleheads agree with EMH. The consensus...
by Soon2BXProgrammer
Mon Jan 18, 2021 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Sole proprietor. Generating 1099-misc for my income
Replies: 17
Views: 1027

Re: Sole proprietor. Generating 1099-misc for my income

Glad that it worked well for your wife. Thanks for the response. Insurance companies and leftover amounts directly by patients are paid as the income for my sole proprietorship business. This is the first year so I honestly don’t know how it is supposed to work. Would the insurance companies send a...
by Soon2BXProgrammer
Mon Jan 18, 2021 9:22 am
Forum: Personal Investments
Topic: 529 Question regarding gift deposits - who owns the money?
Replies: 16
Views: 1376

Re: 529 Question regarding gift deposits - who owns the money?

Who is listed as the owner on the account? That determines who legally owns the money. Unfortunately, if there has been any growth, there are taxes and penalties to make withdrawals. We are the owners of the account. it isn't "we", i have never seen a 529 with two owners listed. Is it you...
by Soon2BXProgrammer
Sun Jan 17, 2021 11:20 pm
Forum: Investing - Theory, News & General
Topic: Likelihood of 70s style inflation
Replies: 112
Views: 8664

Re: Likelihood of 70s style inflation

I only see 1 response that makes sense. The purchasing power is dropping fast. Lumber went to all time highs due to covid. Then it doubled again. I farm and the grain I sell is up 50%+ this year. Steel is skyrocketing. Health insurance cost today for my family would have taken 90% of my 2006 take-h...
by Soon2BXProgrammer
Sun Jan 17, 2021 11:15 pm
Forum: Personal Investments
Topic: 529 Question regarding gift deposits - who owns the money?
Replies: 16
Views: 1376

Re: 529 Question regarding gift deposits - who owns the money?

Who is listed as the owner on the account? That determines who legally owns the money. Unfortunately, if there has been any growth, there are taxes and penalties to make withdrawals.
by Soon2BXProgrammer
Sun Jan 17, 2021 7:02 pm
Forum: Investing - Theory, News & General
Topic: Likelihood of 70s style inflation
Replies: 112
Views: 8664

Re: Likelihood of 70s style inflation

I think the risk is higher than people might think. Interest rates can only go up from here, and we have student debt / healthcare cost crisis about to explode. With regard to student debt, I've been hearing about a 'coming crisis' since at least 2016, but so far, we're in mostly the same situation...
by Soon2BXProgrammer
Sun Jan 17, 2021 11:54 am
Forum: Personal Investments
Topic: cani leave my solo-401k dormant for a few years
Replies: 14
Views: 676

Re: cani leave my solo-401k dormant for a few years

Yes, your explanation was clear. I misread the paragraph on this site: https://www.mysolo401k.net/solo-401k/multiple-retirement-plan-solo-401k-contribution-rules/ My other point or question was would I care if the $57k was elective or non-elective in a single member LLC where profits are schedule C...
by Soon2BXProgrammer
Sun Jan 17, 2021 11:24 am
Forum: Personal Investments
Topic: cani leave my solo-401k dormant for a few years
Replies: 14
Views: 676

Re: cani leave my solo-401k dormant for a few years

Heck, I think you can even contribute to BOTH at the same time effectively doubling your deferral. I'm looking into that right now and so far that's what I have seen. If there are any experienced experts on this subject please comment. I'll be working on the same thing next week. Thanks for posting...
by Soon2BXProgrammer
Sun Jan 17, 2021 10:48 am
Forum: Personal Investments
Topic: cani leave my solo-401k dormant for a few years
Replies: 14
Views: 676

Re: cani leave my solo-401k dormant for a few years

Heck, I think you can even contribute to BOTH at the same time effectively doubling your deferral. I'm looking into that right now and so far that's what I have seen. If there are any experienced experts on this subject please comment. I'll be working on the same thing next week. Thanks for posting...
by Soon2BXProgrammer
Sun Jan 17, 2021 10:32 am
Forum: Personal Investments
Topic: Should one avoid losses of After-tax money pre-mega backdoor to Roth IRA?
Replies: 17
Views: 1038

Re: Should one avoid losses of After-tax money pre-mega backdoor to Roth IRA?

i only did conversions once a year when i had access to the MBR. turned out all but 1 year i had a gain. (lucky). every plan provider is different but what my plan did was: Assuming 5k contributions and 4500 current value. They made a 4500 distribution. They then subtracted 4500 from the 5000 basis ...
by Soon2BXProgrammer
Sat Jan 16, 2021 11:38 pm
Forum: Personal Investments
Topic: Best place to open a solo 401k?
Replies: 66
Views: 3268

Re: Best place to open a solo 401k?

I'm looking to do MBR, so those won't work. I know about employee fiduciary, but recently found another firm I rather work with, who claims to be a TPA. So I'm trying to make sure they are actually legit I'm unaware of any other firm that is a full service TPA that offers aftertax 401k, in the pric...
by Soon2BXProgrammer
Sat Jan 16, 2021 12:22 pm
Forum: Personal Investments
Topic: How good is a 529?
Replies: 27
Views: 2030

Re: How good is a 529?

...load your 529 up with your bonds. reduce your bond exposure everywhere else. it makes the penalty less of an issue. and bonds return nothing, and even if you have a return the penalty percentage wise will be super small. But doesn't that kind of defeat the purpose...? I guess if it's most of you...
by Soon2BXProgrammer
Fri Jan 15, 2021 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: IRS delays start of tax filing season to Friday, February 12, 2021
Replies: 72
Views: 6046

Re: IRS delays start of tax filing season to Feb. 12

[ Could it be earned income credits? I'll be increasing the average refund when I overpay $5000 to get paper I bonds. I was under the impression that the overpayment had to be in the form of estimated payments, not on the final return....thus I overpaid by at least $5K at the end of 2020. Is it pos...
by Soon2BXProgrammer
Fri Jan 15, 2021 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: FERS, TSP, LEO, Retirement, what am I missing?
Replies: 51
Views: 2589

Re: FERS, TSP, LEO, Retirement, what am I missing?

it looks like you have won the game. no bad options. Consider looking for some low risk LEO positions that you could work in your week without your child. (but only if you want to) My friends father(was state patrol) takes shifts working in a big building watching all the computer monitor feeds and ...
by Soon2BXProgrammer
Fri Jan 15, 2021 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: IRS delays start of tax filing season to Friday, February 12, 2021
Replies: 72
Views: 6046

Re: IRS delays start of tax filing season to Feb. 12

[ Could it be earned income credits? I'll be increasing the average refund when I overpay $5000 to get paper I bonds. I was under the impression that the overpayment had to be in the form of estimated payments, not on the final return....thus I overpaid by at least $5K at the end of 2020. Is it pos...
by Soon2BXProgrammer
Fri Jan 15, 2021 3:34 pm
Forum: Personal Consumer Issues
Topic: Need recommendations for good wifi timers/switches....
Replies: 11
Views: 684

Re: Need recommendations for good wifi timers/switches....

Funny just this morning, when I woke, my smart timers/plugs, wifi thermostat and smart speakers were all offline. The way I got them all back online was to momentarily disconnect power to my modem /router and wait for it to reset. I believe the issue is with the wifi and not the plugs/timers. I hav...
by Soon2BXProgrammer
Fri Jan 15, 2021 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: current value of federal FERS pension (esp MRA+10)
Replies: 16
Views: 1125

Re: current value of federal FERS pension (esp MRA+10)

To be clear, I'm just trying to model the value of the FERS annuity and associated SS supplement. I'm aware that health benefits also kick in some scenarios but not others, and that's a big deal, but I'm not worried about including that complication. Thanks. Most folks rely upon the pros (corporate...
by Soon2BXProgrammer
Fri Jan 15, 2021 11:36 am
Forum: Personal Finance (Not Investing)
Topic: current value of federal FERS pension (esp MRA+10)
Replies: 16
Views: 1125

Re: current value of federal FERS pension (esp MRA+10)

I hear you. one of these days I'll sit down and model what is it worth for me to get to 5 years (and buying back my 4 years of military service) and defer until 62. I've been dragging my feet because i start with the government in about 3 weeks and I don't want to feel like I have handcuffs to make ...
by Soon2BXProgrammer
Thu Jan 14, 2021 1:19 pm
Forum: Investing - Theory, News & General
Topic: What might cause a market correction ( 15-20% ) again
Replies: 105
Views: 8081

Re: What might cause a market correction ( 15-20% ) again

bugleheadd wrote: Thu Jan 14, 2021 1:17 pm was the Q4 2018 correction of about 20% caused by the increase in interest rates?
causation is different the correlation. The Q4 2018 correction is correlated with the rising rates at the time.
by Soon2BXProgrammer
Wed Jan 13, 2021 11:50 pm
Forum: Personal Investments
Topic: Pay no Tax + Max out Retirement Accounts?
Replies: 15
Views: 1973

Re: Pay no Tax + Max out Retirement Accounts?

Thanks for the help! I was under the impression you could only contribute 50% of your income to the 401k, that's where I got 19000 from. It seems the best path is max 401k and Roth IRA and get some more money into taxable VTI Every employers plan is different. Some employers have a much lower contr...
by Soon2BXProgrammer
Wed Jan 13, 2021 11:43 pm
Forum: Personal Consumer Issues
Topic: Massage Tool
Replies: 18
Views: 1210

Re: Massage Tool

this works great. Lots of uses:
https://www.amazon.com/gp/product/B0089175GE/
by Soon2BXProgrammer
Wed Jan 13, 2021 12:44 pm
Forum: Investing - Theory, News & General
Topic: What might cause a market correction ( 15-20% ) again
Replies: 105
Views: 8081

Re: What might cause a market correction ( 15-20% ) again

What is the measurement that tells us the market is in need of a correction? Is there some fundamental that tells us this? yep. when the person at the front desk at the dentist, starts to talk about the stock market... its time. Popular saying, but how do we know it's true in the days of app invest...
by Soon2BXProgrammer
Wed Jan 13, 2021 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Old Job 401(k) & 401(k) Discrimination Testing
Replies: 4
Views: 233

Re: Old Job 401(k) & 401(k) Discrimination Testing

I'd suggest waiting, it is much easier if you don't move it.
by Soon2BXProgrammer
Wed Jan 13, 2021 12:31 pm
Forum: Investing - Theory, News & General
Topic: What might cause a market correction ( 15-20% ) again
Replies: 105
Views: 8081

Re: What might cause a market correction ( 15-20% ) again

MinnGuyInvesting wrote: Wed Jan 13, 2021 12:28 pm What is the measurement that tells us the market is in need of a correction?

Is there some fundamental that tells us this?
yep. when the person at the front desk at the dentist, starts to talk about the stock market... its time.
by Soon2BXProgrammer
Wed Jan 13, 2021 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Repaying FICA Tax Deferral
Replies: 2
Views: 196

Re: Repaying FICA Tax Deferral

I did a quick Google search and didn't find anything on this, but.... I did some Census work for the USG in 2020. For part of that time, they deferred payment on the FICA tax. Now in 2021, I will be doing no, or much less, work for the Census. Does anyone know how I will repay the deferred tax? Doe...
by Soon2BXProgrammer
Wed Jan 13, 2021 11:42 am
Forum: Personal Consumer Issues
Topic: Power is Out - Do you Know How Long Food Lasts in Fridge?
Replies: 39
Views: 2060

Re: Power is Out - Do you Know How Long Food Lasts in Fridge?

:sharebeer to all the fellow pacific north west people.
by Soon2BXProgrammer
Wed Jan 13, 2021 11:38 am
Forum: Investing - Theory, News & General
Topic: What might cause a market correction ( 15-20% ) again
Replies: 105
Views: 8081

Re: What might cause a market correction ( 15-20% ) again

I think the BH desire is to see a 50% drop. A 15-20% drop will only cause equivocation and all sorts of posts about should I reallocate anxiety. A 50% drop is pretty clear. Who would wait after that sort of drop? I think the Government/Fed will do all they can to prevent that sort of drop after the...
by Soon2BXProgrammer
Wed Jan 13, 2021 11:01 am
Forum: Investing - Theory, News & General
Topic: What might cause a market correction ( 15-20% ) again
Replies: 105
Views: 8081

Re: What might cause a market correction ( 15-20% ) again

Shallowpockets wrote: Wed Jan 13, 2021 10:58 am Who would wait after that sort of drop?
Today *might* be the lowest the stock market might be ever again.
by Soon2BXProgrammer
Wed Jan 13, 2021 10:33 am
Forum: Investing - Theory, News & General
Topic: What might cause a market correction ( 15-20% ) again
Replies: 105
Views: 8081

Re: What might cause a market correction ( 15-20% ) again

Monsterflockster wrote: Wed Jan 13, 2021 10:31 am Profit taking, war, market manipulation, climate change, depleted oil reserves, plague... I mean take your pick.
Or for no good knowable reason. - Temper Tantrum.
by Soon2BXProgrammer
Wed Jan 13, 2021 10:26 am
Forum: Investing - Theory, News & General
Topic: What might cause a market correction ( 15-20% ) again
Replies: 105
Views: 8081

Re: What might cause a market correction ( 15-20% ) again

50ismygoal wrote: Wed Jan 13, 2021 10:22 am Does anyone know what caused the December 2018 drop of almost 20%?
https://www.cnbc.com/2019/01/09/markets ... -come.html

Mostly a toddler temper tantrum.
by Soon2BXProgrammer
Wed Jan 13, 2021 10:20 am
Forum: Investing - Theory, News & General
Topic: What might cause a market correction ( 15-20% ) again
Replies: 105
Views: 8081

Re: What might cause a market correction ( 15-20% ) again

the market is just like a toddler. It will throw a temper tantrum of 10% for no reason.

When the tide goes out 10%, some people without pants on will sell and force it farther.
by Soon2BXProgrammer
Tue Jan 12, 2021 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Do Self-Employed “Employer” 401k Contributions Reduce SE Tax?
Replies: 6
Views: 480

Re: Do Self-Employed “Employer” 401k Contributions Reduce SE Tax?

Ben B wrote: Tue Jan 12, 2021 9:59 pm AFAIK the EmployER contribution is considered a business expense or "employee benefit" and as such should reduce your net profit. So no SE tax on it
I am only familiar with Schedule C and this is not true for Schedule C. (for S CORP, ask an accountant)
by Soon2BXProgrammer
Tue Jan 12, 2021 6:13 pm
Forum: Personal Investments
Topic: Why max 401k before 529?
Replies: 181
Views: 10395

Re: Why max 401k before 529?

They don't care the how. They just want a strategy to meet the objectives. The objective isn't to save for college. It is to graduate with little to no debt. There is a difference. For most people, that objective will be achieved at minimal cost by using a 529 plan. It’s too bad people in this inco...
by Soon2BXProgrammer
Tue Jan 12, 2021 5:39 pm
Forum: Personal Investments
Topic: Why max 401k before 529?
Replies: 181
Views: 10395

Re: Why max 401k before 529?

They don't care the how. They just want a strategy to meet the objectives. The objective isn't to save for college. It is to graduate with little to no debt. There is a difference. For most people, that objective will be achieved at minimal cost by using a 529 plan. It’s too bad people in this inco...
by Soon2BXProgrammer
Tue Jan 12, 2021 5:08 pm
Forum: Personal Investments
Topic: Stable Value Fund & Portfolio Correlation - Advice Needed.
Replies: 19
Views: 872

Re: Stable Value Fund & Portfolio Correlation - Advice Needed.

TLDR.. the one item you need to be careful about Stable Value funds is if they have any redemption restrictions. Some do, some don't.
by Soon2BXProgrammer
Tue Jan 12, 2021 4:58 pm
Forum: Personal Investments
Topic: Why max 401k before 529?
Replies: 181
Views: 10395

Re: Why max 401k before 529?

The point overall is at low incomes, people shoudl save for their self, because there is need based aid. People should save for the things that are important to them. It's not up to us to tell people what they should want. Let's keep the advice focused on how to help people get what THEY want, not ...
by Soon2BXProgrammer
Tue Jan 12, 2021 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone use ID.me?
Replies: 15
Views: 1430

Re: Anyone use ID.me?

Yes, i've used ID.me for a few veteran related items.
by Soon2BXProgrammer
Tue Jan 12, 2021 2:50 pm
Forum: Personal Investments
Topic: Stable Value Fund & Portfolio Correlation - Advice Needed.
Replies: 19
Views: 872

Re: Stable Value Fund & Portfolio Correlation - Advice Needed.

TLDR. I use a stable value that yields 2.5% (annualized based on last 30 days) as my "safe asset" holding. Doesn’t yield show that it is fairly risky? Not exactly. stable value is a unique type of fund. Underneath it might hold bonds, it also can hold insurance contracts, etc. my stable v...