Search found 125 matches

by DavidRoseMountain
Tue Aug 14, 2018 4:10 pm
Forum: Investing - Theory, News & General
Topic: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!
Replies: 247
Views: 14481

Re: It's not enough to mumble "Stay the Course"... INT'L Investing has been a disaster!

We really can't predict the future so therefore there's no point in jumping out of international. One way that International can beat the US markets going forward is if Germany gets away from the economic theory of austerity with respect to the budgets of the individual Euro countries, and move towa...
by DavidRoseMountain
Mon Jun 25, 2018 9:41 pm
Forum: Investing - Help with Personal Investments
Topic: Best Online Bank for parking cash?
Replies: 13
Views: 1569

Re: Best Online Bank for parking cash?

Is the 2.0% on the Vanguard money market fund a yield after or before the expense ratio for this fund?
by DavidRoseMountain
Tue Jun 12, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Forbes: Millennials Aren't Having Kids Heres Why That's a Problem for Baby Boomer Real Estate and Retirement
Replies: 74
Views: 7347

Re: Forbes: https://www.forbes.com/sites/josephcoughlin/2018/06/11/millennials-arent-having-kids-heres-why-thats-a-probl

When I bought my modest house in near downtown Ann Arbor in Dec. 1994 it was not considered an ideal location because of the urban qualities around me. Consequently, my house was cheaper to buy than a comparably sized home in a more suburban locale. Fast forward to today, my house is next to luxury ...
by DavidRoseMountain
Tue Jun 05, 2018 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 433
Views: 52510

Re: How much money do you want to retire?

It seems like no one is ever really content with what they have - as soon as they reach a huge amount of net worth for retirement, I see people moving the goalpost further out.
by DavidRoseMountain
Tue Jun 05, 2018 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth & self directed solo 401k
Replies: 27
Views: 1756

Re: Mega backdoor Roth & self directed solo 401k

My odyssey regarding after-tax contributions was on this thread:

viewtopic.php?f=2&t=244071
by DavidRoseMountain
Wed Apr 11, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k contribution deadline. Can funds be deposited on that date?
Replies: 6
Views: 370

Re: Solo 401k contribution deadline. Can funds be deposited on that date?

I believe "constructive receipt" of the funds occurs on the day you make your online transaction.
by DavidRoseMountain
Sat Apr 07, 2018 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Passthrough deduction affected by solo 401k?
Replies: 40
Views: 3136

Re: Passthrough deduction affected by solo 401k?

But, you can do the same as the Schwab SEP-IRA rollover to Roth using an In-Plan Roth Rollover of all contributions (traditional deferrals, employer, and after-tax*), can't you (if you're using a plan which allows IRR, like E*Trade)? *Hypothetically, since I don't think any prototype plan allows af...
by DavidRoseMountain
Sat Mar 24, 2018 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Business Use of Car - Personal Property Tax
Replies: 4
Views: 400

Re: Business Use of Car - Personal Property Tax

Ok so I'm wrong. Sales tax can't be deducted on Schedule C if I choose the standard mileage deduction. The only personal property tax allowed to be deducted has to be based on the value of the car and also has to be a yearly assessment.
by DavidRoseMountain
Wed Mar 21, 2018 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Business Use of Car - Personal Property Tax
Replies: 4
Views: 400

Re: Business Use of Car - Personal Property Tax

When I do go to that IRS publication 463 it states: "If you are self-employed and use your car in your business, you can deduct the business part of state and local personal property taxes on motor vehicles on Schedule C (Form 1040)" It also says, "if you are self-employed and use your car in your b...
by DavidRoseMountain
Wed Mar 21, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Business Use of Car - Personal Property Tax
Replies: 4
Views: 400

Business Use of Car - Personal Property Tax

If I use the standard mileage deduction for business use of my car, which also has some personal use, am I still allowed to deduct the business use of the personal property tax? I read that the personal property tax could be the sales tax of a newly purchased car. So if I purchased a car in 2017, ca...
by DavidRoseMountain
Mon Mar 12, 2018 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 794

Re: Fix overcontribution to non-deductible portion Solo401k plan

Thank you Spirit Rider for doing that math. And thanks Harry for looking at this too. Also, Harry did you do something new to the spreadsheet, because now it works exactly as Spirit Rider's math reveals. It does look like I'm ok and I haven't over-contributed. I know my numbers are correct. My tax r...
by DavidRoseMountain
Mon Mar 12, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 794

Re: Fix overcontribution to non-deductible portion Solo401k plan

I've quadruple checked my business income numbers. I know with 100% certainty about my Schedule C income. I know with 100% certainty what my salary deferral is, and exactly how much I already contributed as after tax voluntary employee contribution I made in November 2017 is. I really appreciate the...
by DavidRoseMountain
Mon Mar 12, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 794

Re: Fix overcontribution to non-deductible portion Solo401k plan

I see IRS websites that relate to this issue. https://www.irs.gov/retirement-plans/fixing-common-plan-mistakes-failure-to-limit-contributions-for-a-participant https://www.irs.gov/retirement-plans/correcting-plan-errors-self-correction-program-scp-general-description https://www.irs.gov/retirement-p...
by DavidRoseMountain
Mon Mar 12, 2018 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 794

Re: Fix overcontribution to non-deductible portion Solo401k plan

Thank you spirit rider. I can't really take credit for paying attention to detail vis a vis the correct after tax contribution. The person who alerted me to my dumb mistake goes to "Avi" on thefinancebluff's blog. I'm just feeling ashamed and embarassed. Yes the 1099-R was done and reported for 2017...
by DavidRoseMountain
Mon Mar 12, 2018 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Taxes and Roth/Solo 401(k) Contributions
Replies: 11
Views: 856

Re: Taxes and Roth/Solo 401(k) Contributions

Wondering if anyone has suggestions on how rynlee can find a " specialized CPA or most likely a Third Party Administrator (TPA)" ?
by DavidRoseMountain
Mon Mar 12, 2018 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 794

Fix overcontribution to non-deductible portion Solo401k plan

I need to fix an over-contribution I made as an employee to the non-deductible account of the Solo401k plan that I have for my Schedule C sole proprietor business. I did this in 2017 for 2017 tax year and I have not yet filed my 2017 return. Here’s the link to the original post I wrote asking what w...
by DavidRoseMountain
Sun Mar 11, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes and Roth/Solo 401(k) Contributions
Replies: 11
Views: 856

Re: Taxes and Roth/Solo 401(k) Contributions

Hello Ryan I'm having a sort of related problem. Do you have enough business income ? That might be why the software is saying you made excess contributions. What is your schedule C business income ? Also, there are calculators for what the maximum is that you can put in. ' https://personal.vanguard...
by DavidRoseMountain
Sun Mar 11, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold is now Honoring Bonus

Made edit changes to my first post to reflect that the bonus was honored after all.
by DavidRoseMountain
Mon Mar 05, 2018 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

When I pay my estimated taxes quarterly, nothing gets refunded back to me. If I'm owed money, I don't get a refund. It simply is used to pay the following year's estimated taxes. The idea that estimate taxes can lead to refunds doesn't make sense for the vast majority of quarterly estimated tax paye...
by DavidRoseMountain
Mon Mar 05, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

So if I went to Saks Fifth Avenue and spent $3,000 on clothes that's ok ?
But not paying $3,000 in taxes ?

Doesn't make any sense, and it's not specifically prohibited for meeting bonus requirement in the 14 pages of terms, conditions, that I downloaded upon applying for the card.
by DavidRoseMountain
Mon Mar 05, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: After tax 401(k) to Roth IRA?
Replies: 17
Views: 1049

Re: After tax 401(k) to Roth IRA?

The $10 earnings is treated as a rollover and is taxed. It doesn't affect your contribution limit at all.
by DavidRoseMountain
Mon Mar 05, 2018 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Different total premium tax credit in Turbo Tax vs Tax Act
Replies: 2
Views: 286

Re: Different total premium tax credit in Turbo Tax vs Tax Act

It's a confusing iterative calculation to determine the premium tax credit if you are self employed and also deducting the health insurance cost.
by DavidRoseMountain
Sun Mar 04, 2018 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 8792

Re: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??

If you have any Schedule C income at all, then you qualify for a traditional IRA, which would lower your AGI to help you qualify for premium health insurance subsidies
by DavidRoseMountain
Sun Mar 04, 2018 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

I've filed a complaint with the CFPB.
But I also may send out a tweet and write a letter to the CEO as others on here suggested.
by DavidRoseMountain
Sun Mar 04, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

Without a doubt you are not getting the bonus because you had the card before. The language would be somewhere in the terms and conditions that you could have linked to. That would be a sentence in a few pages of text. As far as I know paying income taxes is allowed spend for any credit card bonuse...
by DavidRoseMountain
Sun Mar 04, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

I find the outrage here puzzling. Isn’t it reasonable for a credit card company not to cater to customers who are avid churners or are applying for products just to play a “rewards game?” Maybe I’m missing something, but aren’t those exactly the sort of customers those firms would not want to recru...
by DavidRoseMountain
Sun Mar 04, 2018 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

THY4373 wrote:
Fri Mar 02, 2018 11:15 pm

Did you have any returns and I mean any no matter how small?
No I had no returns. I only used the card a couple of times. To pay federal income taxes, and to buy a Delta flight to go visit my parents.
by DavidRoseMountain
Sun Mar 04, 2018 9:39 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

Shame on me for not keeping up with all the posts. I will respond soon.
by DavidRoseMountain
Fri Mar 02, 2018 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

I don't know how to add attachments on here.

I paid federal income taxes to meet the bonus, but that is not specifically stated against as not meeting spending requirements.
by DavidRoseMountain
Fri Mar 02, 2018 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

The customer support person doesn't know for sure, but says I applied for the card a couple of years ago, which I did. I had the card a couple of months. I didn't get a miles bonus then. Moreover, there's nothing in the language of the application or terms/conditions that states you can't apply aga...
by DavidRoseMountain
Fri Mar 02, 2018 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

I didn't do anything to game or misuse the card. What does that even mean ?
by DavidRoseMountain
Fri Mar 02, 2018 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

Re: AmEx Delta Gold Not Honoring Bonus

The customer support person doesn't know for sure, but says I applied for the card a couple of years ago, which I did. I had the card a couple of months. I didn't get a miles bonus then. Moreover, there's nothing in the language of the application or terms/conditions that states you can't apply agai...
by DavidRoseMountain
Fri Mar 02, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: AmEx Delta Gold is now Honoring Bonus
Replies: 87
Views: 8479

AmEx Delta Gold is now Honoring Bonus

I applied for the American Express Gold Delta skymiles card on Jan. 1st with a bonus promotion of 50,000 in miles and $50 statement credit by doing a certain spending within a certain time. I met all the requirements, and 8 weeks later I called up support and asked why I didn’t get the bonus. Custom...
by DavidRoseMountain
Fri Mar 02, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 8792

Re: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??

So based on what you said about your photography work, how is that not a business with a Schedule C ? I'm confused? Is some of that 2017 income based on the photography business that you have?
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: 452

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: 452

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: 452

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: 6736
Views: 1465212

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: 3809

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: 8725

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: 1038

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: 1038

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: 261
Views: 38440

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: 707

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: 1326
Views: 106371

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: 476

Re: Strategy for doing mega backdoor

I'll likely be doing this for 2018
by DavidRoseMountain
Sun Dec 17, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Clever use of a "C" Corporation
Replies: 23
Views: 3574

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."