Search found 89 matches

by DavidRoseMountain
Thu Feb 22, 2018 9:07 am
Forum: Personal Finance (Not Investing)
Topic: W-2 Line 12 Code D employee or employer contrib ?
Replies: 4
Views: 387

Re: W-2 Line 12 Code D employee or employer contrib ?

OK I just called payroll back up again and they will correct my W-2 form and no longer include the employer contribution in mine 12, so hopefully it is now all resolved.
by DavidRoseMountain
Thu Feb 22, 2018 8:35 am
Forum: Personal Finance (Not Investing)
Topic: W-2 Line 12 Code D employee or employer contrib ?
Replies: 4
Views: 387

Re: W-2 Line 12 Code D employee or employer contrib ?

So I called up payroll and the person said Code D can include the employer contributions She said she found that on Google search
I can’t find that information but I did find IRS w-2 instructions, and I don’t see what she claims
https://www.irs.gov/pub/irs-pdf/iw2w3.pdf#page29
by DavidRoseMountain
Wed Feb 21, 2018 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: W-2 Line 12 Code D employee or employer contrib ?
Replies: 4
Views: 387

W-2 Line 12 Code D employee or employer contrib ?

I have a part time job with a public school system and a few years ago in lieu of continuing in the pension system I opted to have the employer contribute an equivalent of 4% of my gross pay to a 401k plan. The amount of this contribution is showing up on line 12 with the code of D, which suggests i...
by DavidRoseMountain
Mon Feb 05, 2018 8:11 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 5600
Views: 1266325

Re: U.S. stocks in freefall

This is a good time to chill out and watch Netflix or Hulu
by DavidRoseMountain
Sat Jan 20, 2018 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: What's your annual cost of living (expenses)?
Replies: 40
Views: 3299

Re: What's your annual cost of living (expenses)?

Single Living expenses are $34,000 - includes property taxes and mortgage payment. Federal and State income taxes are another $6500 Business expenses are $8,000 Some house remodeling work was $3,000 If I didn't have the business, then I wouldn't have the expenses related to it, nor would I have $6,5...
by DavidRoseMountain
Sat Jan 20, 2018 5:02 pm
Forum: Investing - Help with Personal Investments
Topic: Lost money through Bitconnect scam - learned my lesson
Replies: 94
Views: 7638

Re: Lost money through Bitconnect scam - learned my lesson

Like the other 52 year olds who posted already, I was 34 years old during the 1999-2000 internet stock craze. I invested in some of those internet stocks rather than index funds, and lost money. Fortunately, most of my investing was in the SP 500 index fund.
by DavidRoseMountain
Sat Jan 20, 2018 9:13 am
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth Questions
Replies: 6
Views: 862

Re: Mega Backdoor Roth Questions

You buy a plan from an administrator, and they basically will restate an existing plan, like a Fidelity solo 401k.
I use discountsolo401k
by DavidRoseMountain
Fri Jan 19, 2018 5:11 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor Roth Questions
Replies: 6
Views: 862

Re: Mega Backdoor Roth Questions

I did my own mega back door roth rollover last fall, with my self-employed 401k plan, and today I filed my 1099-R using Tax1099 which gets filed with the IRS.
by DavidRoseMountain
Tue Jan 16, 2018 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: New HSA provider Lively offers investments for $30/yr fee
Replies: 216
Views: 25852

Re: New HSA provider Lively offers investments for $30/yr fee

The cheapest way to do this is to use Saturna, and buy their T Rowe Price SP 500 Index fund, there's no fee at all, the expense ratio is .21% Then when the balance on this mutual fund is high enough, (probably around $15,000) the expense ratio becomes higher than the fees charged, and then it makes ...
by DavidRoseMountain
Sat Jan 13, 2018 10:30 pm
Forum: Investing - Help with Personal Investments
Topic: Confirmation on my calculations for Solo 401k?
Replies: 8
Views: 609

Re: Confirmation on my calculations for Solo 401k?

To calculate the self employment, I think you first have to multiply the net business profit by .9235.
Then you can multiply that by .0765 in order to get the self employment tax that is deducted from the profit to determine the employer profit sharing number.
by DavidRoseMountain
Sun Jan 07, 2018 2:57 pm
Forum: Personal Consumer Issues
Topic: To take or not to take delivery of Tesla 3
Replies: 460
Views: 37479

Re: To take or not to take delivery of Tesla 3

I just bought a Chevrolet Bolt and so far I love it.
by DavidRoseMountain
Sat Jan 06, 2018 9:31 pm
Forum: Investing - Help with Personal Investments
Topic: Strategy for doing mega backdoor
Replies: 3
Views: 411

Re: Strategy for doing mega backdoor

I'll likely be doing this for 2018
by DavidRoseMountain
Sun Dec 17, 2017 9:16 am
Forum: Investing - Theory, News & General
Topic: Clever use of a "C" Corporation
Replies: 21
Views: 2926

Re: Clever use of a "C" Corporation

I remember when taking one of my tax classes when I got my masters in accounting that c corporations can accumulate these profits, but eventually they will get taxed on this accumulation. I can't quite recall the name of this accumulation, something like "Profits and earnings."
by DavidRoseMountain
Sun Dec 17, 2017 8:57 am
Forum: Investing - Help with Personal Investments
Topic: What to do after losing $117k in stock market?
Replies: 156
Views: 17163

Re: What to do after losing $117k in stock market?

You might try finding the excitement you seek by going and playing some sports, running, weightlifting. Keep the investing boring.
by DavidRoseMountain
Sat Dec 16, 2017 9:47 am
Forum: Investing - Theory, News & General
Topic: What Experts Say About "Simplicity"
Replies: 19
Views: 21569

Re: What Experts Say About "Simplicity"

I agree with the simplicity concept, but the tax law is complex, and sometimes during the working years one is just going to have to have multiple tax-deferred accounts in order to optimize tax savings and portfolio growth.
by DavidRoseMountain
Thu Dec 14, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

I know now never to use Transamerica
by DavidRoseMountain
Thu Dec 14, 2017 10:18 am
Forum: Investing - Help with Personal Investments
Topic: When is the deadline to set up and fund a solo 401k? roth solo 401k?
Replies: 4
Views: 439

Re: When is the deadline to set up and fund a solo 401k? roth solo 401k?

For 2017 set it up by Dec. 31
For funding you have til when you file your taxes - both for the employer and salary deferral if you’re a sole proprietor.
by DavidRoseMountain
Mon Dec 11, 2017 3:29 pm
Forum: Investing - Theory, News & General
Topic: How are 401k withdrawals taxed when you retire?
Replies: 15
Views: 2379

Re: How are 401k withdrawals taxed when you retire?

And one can always rollover traditional 401k into a roth ira and choose when the tax bracket is favorable.
by DavidRoseMountain
Sat Dec 09, 2017 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Why am I still scared ? Is it actually normal ?
Replies: 81
Views: 13602

Re: Why am I still scared ? Is it actually normal ?

At $1.6 million you can spend $64,000 a year based on the 4% rule.
Have you ever determined what your expenses are for a year? Do you really need to spend between $85-$100k per year?
You might find you live on a lot less. That should be comforting to know.
by DavidRoseMountain
Tue Nov 28, 2017 12:40 pm
Forum: Investing - Help with Personal Investments
Topic: Timing Deadline for After-Tax Contributions??
Replies: 9
Views: 662

Re: Timing Deadline for After-Tax Contributions??

With Fidelity it's easy to have 3 separate non-prototype plan accounts, one is the pre-tax account, one is the after-tax account, and the third is the roth account. I just use a core fund that won't grow in value for the after-tax account so that when I roll that over to the roth account there are n...
by DavidRoseMountain
Tue Nov 28, 2017 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Too much house, right?
Replies: 88
Views: 8693

Re: Too much house, right?

Make sure to do comparables in the neighborhood to make sure there are other million dollars homes next door or nearby.
by DavidRoseMountain
Sat Nov 25, 2017 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Question re Federal Tax Credit for EVs and Plug-In Hybrids
Replies: 6
Views: 458

Re: Question re Federal Tax Credit for EVs and Plug-In Hybrids

I think that depends on whether you lease or buy. When I leased an EV earlier this year, the dealership passed on the $7,500 federal rebate directly to the cost of the lease, with no need to provide any tax information. I'm really interested to know which car company does that for you? I would also...
by DavidRoseMountain
Sat Nov 25, 2017 4:15 pm
Forum: Investing - Theory, News & General
Topic: Why does everyone keep increasing their international stock %?
Replies: 101
Views: 9548

Re: Why does everyone keep increasing their international stock %?

I'd be more inclined to do the even split of equities between international and US if I felt that the international business law was strong and fair and impartial. But contract law is still too murky in China and Russia and other countries throughout the globe. Therefore my 20% allocation to interna...
by DavidRoseMountain
Fri Nov 24, 2017 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Too much house, right?
Replies: 88
Views: 8693

Re: Too much house, right?

If you are going to have a house built you might consider using geothermal energy, solar energy, and passive heating type design, so that at least your utility bills can be very low, to offset the mortgage payment.
by DavidRoseMountain
Tue Nov 21, 2017 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Going electric: Books about the Nissan Leaf (first generation; 2011–2017)
Replies: 21
Views: 1555

Re: Going electric: Books about the Nissan Leaf (first generation; 2011–2017)

Pdxnative wrote:
Mon Nov 20, 2017 12:41 pm
This is the closest thing to Bogleheads for leafs:
http://mynissanleaf.com/
Wow this turned out to be a helpful website regarding the Leaf and the potential battery degradation problems.
by DavidRoseMountain
Sun Nov 19, 2017 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Benefits of Flagship
Replies: 38
Views: 6542

Re: Benefits of Flagship

Do the Vanguard mutual funds in a SEP-IRA in my Vanguard account qualify to meet the minimum asset amount threshold for Flagship level ?
by DavidRoseMountain
Sat Nov 04, 2017 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 16434

Re: 2018 ACA rates now live....

Thanks to the increase in silver plans, my bronze plan after subsidies is now only $25 a month in Michigan
by DavidRoseMountain
Sat Nov 04, 2017 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: ACA MAGI planning
Replies: 57
Views: 4999

Re: ACA MAGI planning

Spirit Rider wrote:
Sat Nov 04, 2017 3:16 pm
Tax exempt foreign earned income
There's no tax exempt foreign earned income from a regular Totat International Index from Vanguard is there ?
by DavidRoseMountain
Wed Nov 01, 2017 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 16434

Re: 2018 ACA rates now live....

Because of the way silver plans in Michigan rose so much, my bronze plan after subsidies will cost me only $25 a month instead of $110. It's so cheap that I decided to buy dental insurance, even though I'm not sure dental insurance is a good idea.
by DavidRoseMountain
Wed Nov 01, 2017 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

Congratulations Brak !! I'm hopeful that your father will be made whole. What an eye opener this situation is ! I think what is still disturbing was how proactive you had to be regarding this issue, that the company wouldn't take care of things, but that you had to constantly call them. Thanks Bob S...
by DavidRoseMountain
Tue Oct 31, 2017 9:42 pm
Forum: Investing - Help with Personal Investments
Topic: Early-retired 35 year old with $1 million
Replies: 198
Views: 20218

Re: Early-retired 35 year old with $1 million

Just get a super great health insurance policy under the federal exchange and you don't have to worry about medical bankruptcy.
by DavidRoseMountain
Tue Oct 31, 2017 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

I also want to know the outcome of this situation. We could all face this problem, and it behooves everyone on bogleheads to be aware of this and to know what to do and how to prevent such identity theft if that's even possible.
by DavidRoseMountain
Sun Oct 29, 2017 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: help with solo 401K taxes
Replies: 8
Views: 799

Re: help with solo 401K taxes

It sounds like you are trying to make up for the fact that you over-contributed to the solo 401k for your side hustle. The employer contribution would be approx. no bigger than 25% of that income. I'm not sure what your CPA is saying, it just doesn't sound legal.
by DavidRoseMountain
Sat Oct 28, 2017 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

brak wrote:
Sat Oct 28, 2017 3:26 pm
Hi Doom&Gloom - I have a lawyer. What would you have me do at this point? I would appreciate the feedback.
Contact the Consumer Financial Protection Bureau, consumerfinance.gov
File a complaint
Right now they are very responsive to consumers.
by DavidRoseMountain
Sat Oct 28, 2017 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

This thread started on Oct. 1st, and now it's Oct. 28th. I think it's safe to say that Transamerica is dragging their feet on this one. They should have been empathetic to you regarding how this would feel and how aggrieved you are. They should have said, no matter what, we will make you whole. So n...
by DavidRoseMountain
Sat Oct 28, 2017 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Rewards Visa Card
Replies: 17
Views: 1888

Re: Fidelity Rewards Visa Card

No it's not treated as income.
by DavidRoseMountain
Sat Oct 28, 2017 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 132
Views: 8490

Re: Can I retire today?

The OP asked for us to stay on topic in terms of “Can I retire?” My vote is “yes,” and I do not think you need to double your stock allocation to do so. I have held the “Wellesley Income Allocation” for years (about 38% stocks and 60% bonds with a bit of “other”) and it seems like a very good— albe...
by DavidRoseMountain
Fri Oct 27, 2017 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Bank not discharging PMI?
Replies: 15
Views: 2089

Re: Bank not discharging PMI?

Thank you Three Bears for posting this information. It's very important for people to know their legal rights in this regard.
by DavidRoseMountain
Fri Oct 27, 2017 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA rates now live....
Replies: 228
Views: 16434

Re: 2018 ACA rates now live....

Getting ready to be tarred and feathered and run out of Boggleheadville. My single premium went down 75% for a CSR adjusted $175 deductible with a $600 maximum OOP. Of course in dollar terms, it really isn't much if you consider I already had a ridiculously low premium due to using capital loss car...
by DavidRoseMountain
Fri Oct 27, 2017 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 132
Views: 8490

Re: Can I retire today?

Because of the conservative stock to bond ratio, I would only withdraw about 2% from your 875,000 savings. So that's $17,500 a year, inflation adjusted thereafter. That withdrawal plus your pension should give you 90,700. Could you consider a lateral move to a different department with a different b...
by DavidRoseMountain
Wed Oct 25, 2017 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

I wonder if Brak's experience is the canary in the coal mine of what's to come with financial wrongdoing and stealing.
by DavidRoseMountain
Tue Oct 24, 2017 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

Furthermore, in the case like the OP's FINRA actually has a huge inherent incentive to favor the customer in this particular case. Basically if the public perception (based on media reporting of the decision or the like) becomes that even if you take a reasonable degree of prudent precautions (and ...
by DavidRoseMountain
Wed Oct 18, 2017 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: S-Corp Solo 401k Salary Deferral (How to)
Replies: 15
Views: 1074

Re: S-Corp Solo 401k Salary Deferral (How to)

The earliest you can make W-2 employee deferrals is the first pay period after the effective date of the one-participant 401k and the date employee deferral election that is on compensation not already received. The latest you can make W-2 employee deferrals for this year is a "pay date" on or befo...
by DavidRoseMountain
Wed Oct 18, 2017 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: ACA, Tax Exempt Funds and Annuities.
Replies: 5
Views: 640

Re: ACA, Tax Exempt Funds and Annuities.

Yes I'm almost 52 myself so I can relate to the fear.
The most important health insurance is sleep, exercise, diet, and friendship.
by DavidRoseMountain
Wed Oct 18, 2017 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

In order for Transamerica to have detected a mismatch between the check information and the account holder information, they would have needed a process by which they could verify account holder information at another financial entity, namely Regions Bank. While there are many methods to detect "ru...
by DavidRoseMountain
Tue Oct 17, 2017 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 ACA costs arrived
Replies: 88
Views: 11396

Re: 2018 ACA costs arrived

I'm seeing a preview here in Michigan for my Blue Care Network Blue Cross® Select HMO Bronze Saver HSA, and it looks like the price is going up by a 1/3. I'll see what happens when premium tax credits are taken into account.
by DavidRoseMountain
Tue Oct 17, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 392
Views: 59970

Re: Retirement Account Stolen by Identity theft

Thanks whomever. The counting number on the check in fact matches the routing number for a branch of Regions Bank in Alabama. It's also possible to forge the NAME on the check, while leaving a valid routing number and bank account. Anyone with a laser printer and the appropriate type of paper can m...
by DavidRoseMountain
Mon Oct 16, 2017 10:28 am
Forum: Personal Finance (Not Investing)
Topic: ACA, Tax Exempt Funds and Annuities.
Replies: 5
Views: 640

Re: ACA, Tax Exempt Funds and Annuities.

If that's the case then I would seriously prefer that plan since you are in good health.

You're still allowed to take advantage of the 16 essential benefits free of charge, such as a free preventative checkup, a free colonoscopy.