Search found 7997 matches

by tfb
Thu Apr 18, 2019 9:24 am
Forum: Investing - Theory, News & General
Topic: Loans from 401k -- back door investing?
Replies: 57
Views: 4065

Re: Loans from 401k -- back door investing?

And, a 401k loan has no tax disadvantages versus an equivalent non-deductible loan. (Of course, comparing it to a completely different loan may have different, and irrelevant, results.) This is the basis for my claim that "double-taxation" is a mental illusion. Exactly. Therefore the loan interest ...
by tfb
Mon Apr 15, 2019 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Mixing HDHP/HSA and PPO plans within a family.
Replies: 1
Views: 205

Re: Mixing HDHP/HSA and PPO plans within a family.

masterofinvesting wrote:
Mon Apr 15, 2019 7:50 pm
if she chooses the PPO plan for herself alone, can I still keep my HSA and contribute the family max ($6750) - as it covers both me and my child?
Yes, with the caveat you already knew about her not signing up for general-purpose FSA. The family max is $7,000 in 2019.
by tfb
Fri Apr 12, 2019 6:22 pm
Forum: Personal Investments
Topic: Secondary market CD's
Replies: 6
Views: 536

Re: Secondary market CD's

So a few questions: o Can someone suggest a reference that clearly explains how to interpret the above chart and what it would mean to actually purchase this CD? o I think tax treatment of secondary market CD's is more complicated than for new issues. Does Vanguard provide whatever information is n...
by tfb
Fri Apr 12, 2019 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: RSU moving from Employer Grant Account into Our Trust: Tax Status
Replies: 4
Views: 261

Re: RSU moving from Employer Grant Account into Our Trust: Tax Status

I am assuming the employer-chosen brokerage RSU account will have to report out the difference in price somehow. It won't. The share is already paid for in full. Moving it to another account of yours is just like when people move their shares from Vanguard to Schwab. It isn't taxable. You keep the ...
by tfb
Thu Apr 11, 2019 2:47 pm
Forum: Personal Investments
Topic: Fidelity is making it hard for my daughter to fund a Roth
Replies: 55
Views: 5785

Re: Fidelity is making it hard for my daughter to fund a Roth

Have other people had such trouble giving their money to brokerage firms? Are their firms that will allow her to fund a Roth IRA before the 15th? Linking an account and transferring funds electronically is nice but not required for funding the IRA. She can write a check from her bank account and de...
by tfb
Thu Apr 11, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Individual 401K vs. SEP-IRA
Replies: 18
Views: 720

Re: Individual 401K vs. SEP-IRA

Ohalawa wrote:
Thu Apr 11, 2019 11:27 am
She is joining another physician (w2 or 1099, not sure yet) who does not offer a retirement plan.
Only the employer can create the plan, whether individual 401k or SEP-IRA. She should wait until it's clear whether she will be a W-2 employee or 1099.
by tfb
Wed Apr 10, 2019 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard vs Fidelity Websites - UI/UX
Replies: 13
Views: 1058

Re: Vanguard vs Fidelity Websites - UI/UX

I would like to understand what exactly is so much better about Fidelity's website. In the positions listing, you see right away your cost basis and unrealized gains together with the position's current value. Click on the position, and then "Purchase History / Lots" you see a breakdown of lots and...
by tfb
Wed Apr 10, 2019 8:59 pm
Forum: Personal Finance (Not Investing)
Topic: After tax contributions (MBR) in solo 401k - software?
Replies: 5
Views: 276

Re: After tax contributions (MBR) in solo 401k - software?

My question is how to handle this via a tax software program? I am assuming there is a way? This is the part I am not familiar with. You said you were going to use tax1099.com. $3 a piece e-filed to the IRS is cheaper than any software. After you have the 1099-R, both TurboTax and H&R Block softwar...
by tfb
Wed Apr 10, 2019 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: 403(b) in-plan conversion to Roth 403(b) code
Replies: 11
Views: 571

Re: 403(b) in-plan conversion to Roth 403(b) code

Update: 4.5 hours on the phone later, a top-level H&R block person tells me to just lie to the software by saying it's a rollover into a Roth IRA. They said that this won't make a difference on my return and it's a known bug :oops:. Never again will I use this terrible company! I just tried this in...
by tfb
Tue Apr 09, 2019 12:19 am
Forum: Personal Investments
Topic: How to purchase 20y Treasury bonds?
Replies: 5
Views: 523

Re: How to purchase 20y Treasury bonds?

1) When are the rates locked in then? When the auction starts? When the auction closes. That's the purpose of the auction - to establish the rate. You won't know the exact rate when you place the order. If you must know, you will have to buy on the secondary market. Rates don't change that much in ...
by tfb
Mon Apr 08, 2019 11:15 pm
Forum: Personal Investments
Topic: How to purchase 20y Treasury bonds?
Replies: 5
Views: 523

Re: How to purchase 20y Treasury bonds?

AskingBH wrote:
Mon Apr 08, 2019 10:16 pm
Are they only available on the secondary market?
Auction Query: https://treasurydirect.gov/instit/annce ... _query.htm

It shows the last time they auctioned a 20-year was in 2009. You will have to buy on the secondary market a 30-year issued in 2009, now with 20 years remaining.
by tfb
Mon Apr 08, 2019 9:51 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 4127

Re: self-directed solo 401 k using Vanguard pooled account, etc.

But it wasn't an employer contribution to the 403b, it was an employee contribution (salary deferral) to the 403b. In that case the $18,500 from Spirit Rider below has to be reduced by $2,037 and become $16,463. Then you get the same $17,976 as the spreadsheet. maximum employee after-tax contributi...
by tfb
Mon Apr 08, 2019 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Self-Directed 60 day IRA to IRA Transfer @ Vanguard
Replies: 5
Views: 293

Re: Self-Directed 60 day IRA to IRA Transfer @ Vanguard

[/b]Where can I find the form to mail along with the check so that Vanguard knows to code this as a 60 day IRA to IRA rollover? What other information do they need? The normal online "Contribute to IRA" interface has a question for "Is this a rollover from an employer-sponsored plan or IRA?" Contin...
by tfb
Mon Apr 08, 2019 9:22 pm
Forum: Personal Investments
Topic: self-directed solo 401 k using Vanguard pooled account, etc.
Replies: 65
Views: 4127

Re: self-directed solo 401 k using Vanguard pooled account, etc.

I'm over 50 years old. I see what you're saying. Then I guess there is a glitch in Harry Sit's excel spreadsheet for figuring it out. https://docs.zoho.com/sheet/published.do?rid=hd3vb2c79aa2e630443d58a05e8140934898a If gross wages from day job is $50,000, the spreadsheet shows $15,939. Assumptions...
by tfb
Mon Apr 08, 2019 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Is this an HSA-eligible HDHP? (individual limits don't qualify, but family does)
Replies: 4
Views: 219

Re: Is this an HSA-eligible HDHP? (individual limits don't qualify, but family does)

neurosphere wrote:
Mon Apr 08, 2019 10:38 am
single deductible: $1000; single out of pocket (OOP) max: $2000
family deductible: $3000; family out of pocket max: $6000
If one person in family coverage incurs $1,100 in expenses before the family hits $3,000, does the plan start paying? If yes, the plan doesn't qualify.
by tfb
Mon Apr 08, 2019 2:50 am
Forum: Personal Finance (Not Investing)
Topic: Tax deduction for CA used car purchase
Replies: 1
Views: 240

Re: Tax deduction for CA used car purchase

The DMV site suggests that a portion of this fee is a "use tax" Use tax is the equivalent of sales tax, which you pay on many other purchases as well. If you pay more sales tax than state income tax you can deduct sales tax instead of state income tax but not in addition to state income tax. A part...
by tfb
Mon Apr 08, 2019 2:06 am
Forum: Personal Finance (Not Investing)
Topic: Tax - MAGI with capital loss for ROTH Contribution
Replies: 2
Views: 273

Re: Tax - MAGI with capital loss for ROTH Contribution

Multiple sources mentioned that passive loss (capital losses?) should be added back to the adjusted gross income (AGI) [see source 1 below] . Go to the real source. IRS Publication 590-A, page 40, worksheet 2-1, "Modified Adjusted Gross Income for Roth IRA Purposes." A capital loss is not a passive...
by tfb
Sun Apr 07, 2019 10:45 pm
Forum: Personal Investments
Topic: Roth in-plan conversion instead of rollover (aftertax)...big or small oops?
Replies: 2
Views: 272

Re: Roth in-plan conversion instead of rollover (aftertax)...big or small oops?

I guess having 1/4 worth of a single years after tax tied up in that in-plan Roth isn't the end of the world When the plan has good investment options and the money is for after you are 59-1/2, the in-plan Roth rollover a perfectly acceptable way to do it going forward. You might like this better t...
by tfb
Sun Apr 07, 2019 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: How to get cash quickly
Replies: 102
Views: 5865

Re: How to get cash quickly

Here's an article with list of banks and status (if they will provide the transaction or not; fee; etc) Dated Sept 2018. The fee, if any, is charged by the bank that issued you the debit card, not the bank at which you are getting the cash. If you use your debit card from Ally, and Ally doesn't cha...
by tfb
Tue Apr 02, 2019 12:43 pm
Forum: Investing - Theory, News & General
Topic: Conversion after recharacterization waiting period
Replies: 12
Views: 572

Re: Conversion after recharacterization waiting period

White Coat Investor wrote:
Tue Apr 02, 2019 11:37 am
Or rather, was always allowed?
It was always allowed. A recharacterized contribution from Roth to Traditional is treated as a contribution to the Traditional IRA all along.
by tfb
Tue Apr 02, 2019 10:19 am
Forum: Investing - Theory, News & General
Topic: Conversion after recharacterization waiting period
Replies: 12
Views: 572

Re: Conversion after recharacterization waiting period

There is no such rule. There was a waiting period after recharacterizing a conversion, but since that's no longer allowed it's moot now.
by tfb
Tue Apr 02, 2019 12:26 am
Forum: Personal Finance (Not Investing)
Topic: How to get cash quickly
Replies: 102
Views: 5865

Re: How to get cash quickly

Now I need about $3500 cash, by tomorrow, to buy something and the seller won't take a check. --I can't get $3500 out of an ATM, as far as I know If you have a debit card with a Visa or MasterCard logo, you could've saved the wire fee by going inside any bank branch and asking for a cash advance ag...
by tfb
Mon Apr 01, 2019 11:40 am
Forum: Personal Finance (Not Investing)
Topic: ACA and Moving - Questions
Replies: 13
Views: 408

Re: ACA and Moving - Questions

-If we moved with less than 2 months to go in 2019, would her current coverage carry her over until the new year? -What options for health care are there for Texas residents? I don't believe Texas has a state exchange, so would she be able to buy insurance on a Federal exchange? She can keep her in...
by tfb
Thu Mar 28, 2019 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I just pay this medical bill?
Replies: 30
Views: 3069

Re: Should I just pay this medical bill?

-The problem is the bill was filed under the MD name-who is not in network-and processed at out of network parameters. MRI center insists this is wrong and should be billed under the center's tax ID (in network) but is having trouble with their billing contractor. This happened to me once. I called...
by tfb
Mon Mar 25, 2019 3:04 am
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 51
Views: 5755

Re: Primer on Paying Taxes With a Credit Card

For federal taxes you can find the fees for different processors here. https://www.irs.gov/payments/pay-taxes-by-credit-or-debit-card Do you have to give your Social Security Number to the third-party processor? If filing jointly, do you have to give both SSNs to the third-party processor? Any secu...
by tfb
Tue Mar 19, 2019 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Changes to Capital Gains Tax Brackets?
Replies: 13
Views: 1871

Re: Changes to Capital Gains Tax Brackets?

However, I have seen some sources state that now, capital gains have their OWN tax brackets, NOT tied to the ordinary income brackets. It's true they are no longer exactly the same but the difference is very small. If you continue on the old assumption you wouldn't be too far off. I don't worry muc...
by tfb
Fri Mar 15, 2019 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block Tax Software Frustrations
Replies: 2
Views: 616

Re: H&R Block Tax Software Frustrations

My options are to file on paper, go to another H&R Block office where they might know what they're doing, or buy Turbo Tax and start all over with data entry. None of these are appealing. So far I always filed on paper. The time you were prepared to spend at the H&R Block office even if they proces...
by tfb
Fri Mar 15, 2019 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: can i use turbotax without paying a fee?
Replies: 26
Views: 1766

Re: can i use turbotax without paying a fee?

hey this is my first year of using turbotax instead of my family accountant. i only have a W2 and then i have a 401k, taxable investments with vanguard and then a roth IRA with vanguard. Does that qualify me for the free version of turbotax? and for using turbotax, would i just upload my W2 and som...
by tfb
Mon Mar 11, 2019 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Help Try to Get Fidelity to Offer Online Contributions to Solo 401(k) Plans
Replies: 14
Views: 820

Re: Help Try to Get Fidelity to Offer Online Contributions to Solo 401(k) Plans

With the new QBI consideration it's better to make the contribution near or after the year end. I don't think sending just one paper check by mail is such a big deal.
by tfb
Thu Mar 07, 2019 1:13 pm
Forum: Personal Investments
Topic: What if transfer is delayed and the funds have been used to buy stock?
Replies: 3
Views: 254

Re: What if transfer is delayed and the funds have been used to buy stock?

But what if for any reason there's a delay? It depends on what caused the delay. If it's due to weekend and holiday, the settlement date is also delayed. No issue there. If the broker's own system delayed sending out the ACH debit, you won't be responsible or even hear about the delay. When your ot...
by tfb
Wed Mar 06, 2019 5:37 pm
Forum: Personal Investments
Topic: Merrill Edge - cash management solutions
Replies: 5
Views: 820

Re: Merrill Edge - cash management solutions

ma21n2 wrote:
Wed Mar 06, 2019 2:03 pm
I do want to earn at least something for the cash I expect to receive from cash that ETFs generate.
You can fill out a form and have all dividends automatically transferred to an external bank account, which can be your online high yield savings account at Ally, etc.
by tfb
Sun Mar 03, 2019 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Contribution deadlines for qualified plans / Mike Piper
Replies: 20
Views: 2115

Re: Contribution deadlines for qualified plans / Mike Piper

vnatale wrote:
Sun Mar 03, 2019 1:43 pm
All, of the above is leading me to believe that the Qualified Business Income Deduction IS affecting the maximum contribution for an individual 401(k).
No, the other way around.
by tfb
Thu Feb 28, 2019 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth -- A Unicorn?
Replies: 45
Views: 2621

Re: Mega Backdoor Roth -- A Unicorn?

ChinchillaWhiplash wrote:
Thu Feb 28, 2019 9:44 am
Have Schwab self directed solo 401k w/Roth option. Plan set up by Ubiquity. Yearly fee is $215.
Does it include non-Roth after-tax contributions and in-service distributions or in-plan rollovers?
by tfb
Tue Feb 26, 2019 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Issue Re: RSUs & Dividend Equivalents
Replies: 13
Views: 380

Re: Tax Issue Re: RSUs & Dividend Equivalents

Sriracha wrote:
Tue Feb 26, 2019 7:20 pm
Just wanted to be sure it had no impact on basis when reported this way since the money only came my way via the RSU release.
It's only a coincidence the small cash bonus happened to be paid on the same day the RSUs vested. You didn't use that cash to buy shares.
by tfb
Tue Feb 26, 2019 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Charges/Refund received/Dentist
Replies: 29
Views: 1434

Re: HSA Charges/Refund received/Dentist

Hi, our child had some dental surgery done. We were asked to pay upfront over $600 for the surgery procedure. We paid with our HSA card. Between medical and dental insurance, the vast majority of charges were covered. We recently received a rather large refund check for this. What do I do with this...
by tfb
Tue Feb 26, 2019 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Issue Re: RSUs & Dividend Equivalents
Replies: 13
Views: 380

Re: Tax Issue Re: RSUs & Dividend Equivalents

Sriracha wrote:
Tue Feb 26, 2019 7:11 pm
And you would ignore the cash amount of the dividend equivalents that came along for the ride when my RSUs were released?
The cash amount is like any cash bonus received on the W-2. It's already taken care of when you entered the W-2.
by tfb
Tue Feb 26, 2019 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Issue Re: RSUs & Dividend Equivalents
Replies: 13
Views: 380

Re: Tax Issue Re: RSUs & Dividend Equivalents

Would it amount to the same thing if I just keep what I have using the walkthrough, and when TurboTax asks at the end of that segment whether the compensation amount is already in included as income on the W-2, just answer "yes?" Would that end the matter? I don't know. I would just delete that seg...
by tfb
Tue Feb 26, 2019 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Issue Re: RSUs & Dividend Equivalents
Replies: 13
Views: 380

Re: Tax Issue Re: RSUs & Dividend Equivalents

I'm probably not explaining this clearly, but what is troubling me is that the "RSU" dollar figure in W-2 Box 14, which I have to believe is counted in W-2 Box 1 ordinary income isn't going to match the TurboTax compensation income from the sale of the RSUs. The difference of course is exactly the ...
by tfb
Tue Feb 26, 2019 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Question on Affordable Care Act
Replies: 19
Views: 1236

Re: Question on Affordable Care Act

I too, live in urban southern California. My Kaiser ACA policy (for family of 4) costs me 23,400. I am slightly over the ACA cliff for receiving any subsidies and have already pulled all levers available to keep under the cliff. Have you tried income bunching? Go over the cliff by a lot in one year...
by tfb
Mon Feb 25, 2019 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor 401K & Roth Backdoor Tax Questions
Replies: 8
Views: 682

Re: Mega Backdoor 401K & Roth Backdoor Tax Questions

- For #1, I'm only allowed to contribute as a % of my weekly income after-tax so I can't do it one lump sum. Do I just transfer the $9k after-tax all at once at the end of the year into the Roth IRA or do I call Fidelity each week and ask them to do a withdrawal every week so there's no time for it...
by tfb
Mon Feb 18, 2019 11:51 am
Forum: Investing - Theory, News & General
Topic: " Vanguard doesn’t bare its finances. Should investors care?"
Replies: 25
Views: 2341

Re: " Vanguard doesn’t bare its finances. Should investors care?"

anonymous source wrote:"They publish nothing about their income statement or balance sheet.”
Simply not true. Vanguard's Statement of Financial Condition:

https://personal.vanguard.com/pdf/sofcdec.pdf
by tfb
Mon Feb 18, 2019 9:26 am
Forum: Personal Investments
Topic: Mega Backdoor Roth Questions
Replies: 65
Views: 3087

Re: CPA Says I Need Specialist - Does this sound right?

I'm getting ready to set up a 401k plan that would allow the after tax contributions & in service distributions. I spoke to a couple of plan providers. I had a particular question about contribution deadlines and they both gave me the same answer. But when I posted about what I was told on this boa...
by tfb
Thu Feb 14, 2019 6:59 am
Forum: Personal Finance (Not Investing)
Topic: H&R Block tax software (PC download) - more import issues
Replies: 15
Views: 1149

Re: H&R Block tax software (PC download) - more import issues

It imported mine just fine. All the 1099s show up in a list with a "!" indicating a new amount is needed. The accumulated capital loss is also carried over. I don't know about the 8606 because I don't have any prior year basis to be carried over on it.
by tfb
Mon Feb 11, 2019 10:06 am
Forum: Personal Finance (Not Investing)
Topic: 403b 457b (government) and h&r block
Replies: 15
Views: 2173

Re: 403b 457b (government) and h&r block

H&R Block software seems to put the higher contribution limit on the worksheet "NON-W2 WAGES", in the "MINI-WORKSHEET FOR EXCESS SALARY DEFERRALS". I can't seem to find this worksheet mentioned anywhere other than in reference (help forums, lists of supported forms, etc.) to H&R Block's software. I...
by tfb
Sun Feb 10, 2019 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-R and Mega Backdoor Issue using TurboTax
Replies: 3
Views: 470

Re: 1099-R and Mega Backdoor Issue using TurboTax

Try splitting the 1099-R into two. One for the earnings rolled over to traditional, with the earnings in box 1 and no basis in box 5. The second for the after-tax amount in box 1 and box 5. Answer the questions separately for each 1099-R.
by tfb
Sun Feb 10, 2019 2:34 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 522
Views: 56908

Re: Fidelity as a one stop shop

I have used Fidelity CMA for over 10 years now, with money going in and out in all directions: checks deposited, checks paid, ACH pushed out, ACH pulled in, direct debits, direct deposits and ACH pushed in, bill pay, ATM withdrawals, wire transfer, .... I never had any problems. Other than keeping i...
by tfb
Wed Feb 06, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax For S Corp
Replies: 6
Views: 247

Re: Turbo Tax For S Corp

JGoneRiding wrote:
Wed Feb 06, 2019 1:29 pm
or you can turbo tax home and business. Which shocker is designed for both regular and business!
Despite its name, TurboTax Home & Business doesn't do 1120S, the tax return for the S Corp.
by tfb
Wed Feb 06, 2019 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax For S Corp
Replies: 6
Views: 247

Re: Turbo Tax For S Corp

Personal return, yes. Business return requires a separate TurboTax Business package. If you use H&R Block software instead, its Premium & Business edition does both personal and business returns, at a cost comparable to TurboTax software for personal only.
by tfb
Thu Jan 17, 2019 2:43 pm
Forum: Investing - Theory, News & General
Topic: Government shutdown and US Treasuries
Replies: 14
Views: 2149

Re: Government shutdown and US Treasuries

whadyaknow wrote:
Thu Jan 17, 2019 2:09 pm
I've been wondering what effect this prolonged Government shutdown will have on US Treasuries?
Nothing. Matured debt are still being paid out exactly as promised. Auctions for new debt are still happening.
by tfb
Fri Jan 11, 2019 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Free Business Checking Account?
Replies: 7
Views: 286

Re: Free Business Checking Account?

US Bank and BBVA Compass Bank both offer a free business checking account. You just don't earn much interest. If you don't need a debit card or depositing cash in person, Fidelity also offers a business account that can be used for direct deposit, mobile deposit, direct debit, and writing checks. Yo...