Search found 8205 matches

by tfb
Fri Jul 10, 2020 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: PPP and EIDL
Replies: 6
Views: 389

Re: PPP and EIDL

fareastwarriors wrote:
Fri Jul 10, 2020 8:15 pm
Does this mean I can't add in my EIDL amount in my PPP since it was not received between 1/31 to 4/3 period?
That's correct.
by tfb
Tue Jul 07, 2020 12:58 pm
Forum: Personal Investments
Topic: Dividends after ACAT transfer
Replies: 2
Views: 127

Re: Dividends after ACAT transfer

It will be transferred to your destination account in a residual sweep.
by tfb
Wed Jun 24, 2020 8:31 am
Forum: Personal Investments
Topic: HSA in New Jersey
Replies: 26
Views: 1232

Re: HSA in New Jersey

I agree it's 100% clear the HSA contribution is not NJ deductible. But I still think the HSA treatment of div/interest is ambiguous. By default everything is taxable unless specifically exempt. When they don't say anything about the HSA, it means it's treated as a regular taxable account. Can you c...
by tfb
Wed Jun 24, 2020 12:31 am
Forum: Personal Investments
Topic: HSA in New Jersey
Replies: 26
Views: 1232

Re: HSA in New Jersey

JackoC wrote:
Tue Jun 23, 2020 10:26 pm
I agree it's 100% clear the HSA contribution is not NJ deductible. But I still think the HSA treatment of div/interest is ambiguous.
By default everything is taxable unless specifically exempt. When they don't say anything about the HSA, it means it's treated as a regular taxable account.
by tfb
Thu Jun 18, 2020 9:01 am
Forum: Personal Consumer Issues
Topic: Should I sell my stash of dental floss now worth $3,000?
Replies: 105
Views: 11067

Re: Should I sell my stash of dental floss now worth $3,000?

I have a stash of dental floss from Listerine that apparently has been discontinued as of earlier this year. I don't know if the discontinuation is temporary or permanent, but the prices each pack of dental floss has fetched on sites like Ebay and Amazon is ridiculous. I bought them for maybe $3 pe...
by tfb
Mon Jun 15, 2020 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card - foreign currency transactions
Replies: 8
Views: 529

Re: Credit card - foreign currency transactions

Thanks for the replies. Yes, I agree that I bore the risk and it is no different from a speculative forex trade. However, I was more curious about whether the credit card company would/could find ways to push this risk to the merchant since if there are too many returns, the potential downside risk...
by tfb
Mon Jun 15, 2020 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card - foreign currency transactions
Replies: 8
Views: 529

Re: Credit card - foreign currency transactions

I have been wondering about this recently as to a) who ultimately bears the risk You ultimately bear the risk. A simplified version of this round trip is that you bought some EUR some time ago and now you sold those EUR, not much different than you buying a stock and selling a stock later on. By ch...
by tfb
Sun Jun 14, 2020 2:03 pm
Forum: Personal Investments
Topic: why are Vanguard/Schwab brokered CDs not competitive?
Replies: 19
Views: 5224

Re: why are Vanguard/Schwab brokered CDs not competitive?

I've been looking at parking some short-term (6-9mo) cash in CDs, and have noticed that brokered offerings at Schwab and Vanguard appear to be a full point or more lower than what one can find using bankrate.com, etc. Brokered CDs are competitive, with Treasury bonds of the same terms, which can al...
by tfb
Sun Jun 14, 2020 10:49 am
Forum: Personal Investments
Topic: Reverse Rollover to 401K before Backdoor Roth
Replies: 20
Views: 834

Re: Reverse Rollover to 401K before Backdoor Roth

blobking wrote:
Sun Jun 14, 2020 10:47 am
I take your response to mean that I don't have to worry about the SIMPLE/rollover IRA for purposes of this exercise?
I thought the SIMPLE was rolled over to the Traditional IRA. If it's separate, roll over 100% of that one.
by tfb
Sun Jun 14, 2020 10:44 am
Forum: Personal Investments
Topic: Reverse Rollover to 401K before Backdoor Roth
Replies: 20
Views: 834

Re: Reverse Rollover to 401K before Backdoor Roth

- In March 2020, I contributed the max ($6,000) for tax years 2019 and 2020. Because of my income, all contributions were post-tax/non-deductible. - I believe that my basis in this account is therefore $12,000. ... ... I assume I would simply roll over $5,500, but I have no idea if that's right or ...
by tfb
Sat Jun 13, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: MAGI used for Net Investment Tax?
Replies: 4
Views: 303

Re: MAGI used for Net Investment Tax?

slamfire wrote:
Sat Jun 13, 2020 5:49 pm
Does the definition of MAGI differ for different tax forms???
Yes. There are many different versions of MAGI.
by tfb
Wed Jun 10, 2020 7:11 pm
Forum: Investing - Theory, News & General
Topic: Fidelity "premium" money market no longer "premium".
Replies: 6
Views: 1038

Re: Fidelity "premium" money market no longer "premium".

I checked the 7-day yield today on FZDXX. 0.13%. The core Fidelity Treasury Money Market Fund (FZFXX) yield is 0.01%. In other words, for every $10,000 cash you have in FZDXX, you earn a whopping $12 more per year over FZFXX. If I remember correctly, the gap between premium and regular funds has al...
by tfb
Mon Jun 08, 2020 10:05 am
Forum: Personal Investments
Topic: Financial Advisor - Garrett Planning Network (?)
Replies: 11
Views: 1156

Re: Financial Advisor - Garrett Planning Network (?)

kaufeegurl wrote:
Mon Jun 08, 2020 6:43 am
Thanks for the heads up that TFB provides that service. I read his blog religiously and have used his SS calculator.
That's Mike Piper's excellent SS calculator. I only wish I'm half as capable as Mike.
by tfb
Thu Jun 04, 2020 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: PPP/EIDL for a one-person S-corp
Replies: 59
Views: 11528

Re: PPP/EIDL for a one-person S-corp

The grant reduces the maximum amount that can be forgiven under PPP. If you otherwise qualify for $20k forgiveness under PPP, with a $1,000 grant, you now qualify for $19k. To be clear, is this true even if the PPP amount doesn't completely cover 8 weeks of payroll? It's true regardless. You can th...
by tfb
Thu Jun 04, 2020 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: PPP/EIDL for a one-person S-corp
Replies: 59
Views: 11528

Re: PPP/EIDL for a one-person S-corp

My understanding is that EIDL grants are forgivable up to $1,000 per employee with a maximum of $10,000. Has the window to receive a "grant" passed, or if we accept the loan will the first $1,000 be forgivable? She's allowed to accept an amount less than $128k, down to $1,000. If any of it is meant...
by tfb
Fri May 29, 2020 7:33 am
Forum: Personal Investments
Topic: What to do when bank CD rate is much lower than promised?
Replies: 19
Views: 1865

Re: What to do when bank CD rate is much lower than promised?

anonyx wrote:
Fri May 29, 2020 12:41 am
I do have a lot of money (by my lowly small-time definition) in Ally accounts, so that might help.
Because the delay was caused by Vanguard, you should ask Vanguard, not Ally, to make up the difference.
by tfb
Wed May 27, 2020 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 315
Views: 22400

Re: Optimizing PPP Forgiveness

The “ands” in the red sentence make it unclear. Because it goes on to explain that Schedule C filers and general partners are capped to their 2019 amount, with retirement and health contributions already included, I read it as 2019 employee cash compensation and [2019] employer retirement and healt...
by tfb
Wed May 27, 2020 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 315
Views: 22400

Re: Optimizing PPP Forgiveness

They've created a PPP Loan forgiveness report-- they asked for my employer 401K contributions for May and June, and then added it to a separate column labeled Retirement Contributions. This plus the 15385 totaled to my entire PPP loan amount. Were the May and June employer 401k contributions higher...
by tfb
Wed May 27, 2020 7:02 pm
Forum: Personal Finance (Not Investing)
Topic: Question on solo 401k, solo trade and business.
Replies: 1
Views: 141

Re: Question on solo 401k, solo trade and business.

Your two businesses form a controlled group. It's not possible to exclude your future employees at one business beyond the normal age 21 and 1 year of service requirements. Otherwise business owners would just structure their businesses into two entities and put their employees into one that doesn't...
by tfb
Wed May 27, 2020 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 315
Views: 22400

Re: Optimizing PPP Forgiveness

They've created a PPP Loan forgiveness report-- they asked for my employer 401K contributions for May and June, and then added it to a separate column labeled Retirement Contributions. This plus the 15385 totaled to my entire PPP loan amount. Were the May and June employer 401k contributions higher...
by tfb
Tue May 26, 2020 10:30 pm
Forum: Personal Investments
Topic: Does anyone know how to get Fidelity to issue a paper check for a partial rollover?
Replies: 8
Views: 498

Re: Does anyone know how to get Fidelity to issue a paper check for a partial rollover?

I left this out from my original explanation because I was afraid it would become too long and convoluted. We actually did fill out a form and we sent it in to the receiving end (USAA). USAA was told by Fidelity that an additional Fidelity form was needed. We requested the form from Fidelity--which...
by tfb
Tue May 26, 2020 6:37 pm
Forum: Personal Investments
Topic: Does anyone know how to get Fidelity to issue a paper check for a partial rollover?
Replies: 8
Views: 498

Re: Does anyone know how to get Fidelity to issue a paper check for a partial rollover?

Does anyone know how to get Fidelity to issue a paper check from a traditional IRA (it will be a partial rollover) to an IRA (held in another company other than Fidelity) for a direct rollover? IRA rollovers start from the receiving end. Fill out the transfer form from the receiving institution and...
by tfb
Tue May 26, 2020 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Business checking account
Replies: 8
Views: 388

Re: Business checking account

You can also inject some personal money into the business as its startup capital. That will make the business meet the minimum balance requirement.
by tfb
Sat May 23, 2020 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Optimizing PPP Forgiveness
Replies: 315
Views: 22400

Re: Optimizing PPP Forgiveness

the ruling clearly separates owner-employees, sch c filers, and general partners. thoughts? Owner-employees are people who are both owners and employees of the business. While we can argue what qualifies as ownership, 0.1%, 5%, 10%, 20%, ... I think a 100% owner who also works for the S-Corp or C-C...
by tfb
Mon May 18, 2020 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: Is the PPP out of money?
Replies: 16
Views: 1587

Re: Is the PPP out of money?

In late April, Congress injected additional funds into the PPP. Does anyone know if this second infusion has run out? It has not. Latest update shows $195 billion out of ~$300 billion was approved as of May 16 (scroll down to the end of the link below). https://www.sba.gov/funding-programs/loans/co...
by tfb
Sun May 17, 2020 11:48 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Deductions for Donation to Donor Advised Fund from account titled in name of Revocable Trust
Replies: 7
Views: 318

Re: Tax Deductions for Donation to Donor Advised Fund from account titled in name of Revocable Trust

Am I correct in assuming that even though the names are a bit different (i.e. John and Mary Doe vs. The Doe Family Trust), since my tax i.d. is used for our personal accounts as well as the trust that there will be no problem with us taking the tax deduction on our personal return? In this type of ...
by tfb
Sat May 16, 2020 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: EIDL - Economic Injury Disaster Loan
Replies: 26
Views: 2422

Re: EIDL - Economic Injury Disaster Loan

In our situation, since we started our business mid September, 2019 eight weeks of our 2019 compensation is actually less than 75% of our current payroll amount under the PPP loan we were given. Therefore, at least in out situation, we cannot even qualify for forgiveness! This is a common misunders...
by tfb
Fri May 15, 2020 12:24 am
Forum: Personal Investments
Topic: Annoying hold on funds at Fidelity taxable
Replies: 13
Views: 973

Re: Annoying hold on funds at Fidelity taxable

If I initiate a money transfer from my bank's website, pushing it to Fidelity, that money is available quickly. If I initiate a bank transfer from Fidelity, pulling it from my bank, there is usually some sort of hold on that money. Pretty sure that's a requirement for ACH transfers depending on how...
by tfb
Wed May 13, 2020 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Leave H&R Block for Turbo Tax or what other software
Replies: 32
Views: 1754

Re: Leave H&R Block for Turbo Tax or what other software

Costco has a "Deluxe" version for $40 but it doesn't include NJ tax. (Additional $40 bucks for that?) The $50 Deluxe Federal & State version include state tax preparation but not state e-file. You can always print and mail the state return. https://www.costco.com/turbotax-deluxe-federal-efile-%2526...
by tfb
Sat May 09, 2020 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: PPP, 'owner compensation replacement', 75% on payroll. math does not seem to work. what am I missing?
Replies: 24
Views: 2047

Re: PPP, 'owner compensation replacement', 75% on payroll. math does not seem to work. what am I missing?

- 75 % of the PPP loan is expected to be used on 'payroll' for any amount to be forgiven. This part is not true. 75% of the forgivable amount must be used for payroll. If you use $15,384 for payroll and $2,000 for other eligible expenses (rent, utilities, etc.), your total forgivable amount is $17,...
by tfb
Thu Apr 30, 2020 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Small business owners - what invoicing and payment solutions do you use?
Replies: 7
Views: 416

Re: Small business owners - what invoicing and payment solutions do you use?

MrsRoos wrote:
Wed Apr 29, 2020 1:08 pm
The primary use is to create and send online invoices to his customers and our customers can then pay us online via a link in the invoice (ACH transfer).
Azlo account has built-in invoicing and payments by ACH. No fee. You just don't earn interest on money in the account.

https://www.azlo.com
by tfb
Thu Apr 30, 2020 11:41 am
Forum: Personal Finance (Not Investing)
Topic: TreasuryDirect I Bond Timing
Replies: 16
Views: 1720

Re: TreasuryDirect I Bond Timing

May 1 rate.
by tfb
Tue Apr 28, 2020 7:59 pm
Forum: Investing - Theory, News & General
Topic: ??? Thomas Stanley - Stop Acting Rich book
Replies: 121
Views: 13435

Re: ??? Thomas Stanley - Stop Acting Rich book

On Page 54 of Thomas Stanley's Stop Acting Rich book he writes It takes only 54 high-income generating farmers to produce 100 who are millionaires. But it take 383 high-income generating physicians to produce just 100 millionaires. Where do the remaining 46 farmers come from to produce 100 milliona...
by tfb
Sat Apr 25, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity small business keough plan question
Replies: 4
Views: 214

Re: Fidelity small business keough plan question

Our fidelity small business retirement plan is labeled profit sharing keogh plan. Is this just another name for a self employed 401k with similar rules or is there a difference? We have been contributing per solo 401k rules, wondering if I’m missing something? No difference. You can change the acco...
by tfb
Sat Apr 18, 2020 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Good Bank to use for Commercial purposes
Replies: 13
Views: 681

Re: Good Bank to use for Commercial purposes

I've been using Wells Fargo for my commercial banking needs and have been disappointed. Does anyone have any recommendations for a good commercial bank in Texas? I keep about 250K in the checking account of the commercial bank for operating expenses. Thanks in advance! Someone on Reddit suggested F...
by tfb
Mon Apr 13, 2020 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Can I fund Ally CDs directly from Vanguard brokerage Money market
Replies: 17
Views: 1362

Re: Can I fund Ally CDs directly from Vanguard brokerage Money market

lepa71 wrote:
Mon Apr 13, 2020 4:15 pm
Can I fund Ally CDs directly from the Vanguard brokerage Money market account/fund?
You can write a check and send it to Ally. Enable check writing on the Vanguard brokerage account first if necessary.
by tfb
Sun Apr 05, 2020 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Home mortgage deferral with Wells Fargo
Replies: 37
Views: 4030

Re: Home mortgage deferral with Wells Fargo

I told them I just wanted the 3 payments removed from my amortization schedule and put on the back end. I have a 15 year note so now I’d expect it to be a 15 year and 3 month note. This news report has some info: https://www.forbes.com/sites/dimawilliams/2020/04/03/borrowers-seeking-mortgage-forbea...
by tfb
Sat Apr 04, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: 401k provider for small businesses that can work with after-tax contributions
Replies: 6
Views: 294

Re: 401k provider for small businesses that can work with after-tax contributions

newbie001 wrote:
Fri Apr 03, 2020 3:38 pm
Employee Fiduciary has an interesting blog post on after-tax contributions but suggests that compliance concerns make them too much of a PITA except for solo 401ks.
They may have their opinion, which isn't necessarily wrong, but if you really want it they will still do it.
by tfb
Thu Apr 02, 2020 12:33 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1622
Views: 226738

Re: Fidelity as a one stop shop

Any suggestion on how to set up bill pay to pay rent? I go through the "Add Payee" section, but it does not ask me for account # or ABA ID # for the person to whom the money will be sent. It just asks for name, address, account # The bill pay provider will send a paper check to the address you give.
by tfb
Sun Mar 29, 2020 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth selling TBills before maturity?
Replies: 17
Views: 766

Re: Is it worth selling TBills before maturity?

neatp wrote:
Sun Mar 29, 2020 9:57 am
My question is, should I sell the TBills right now or wait for them to mature?
First find out whether you are able to sell them easily. In another thread someone had to call and wait over an hour.
by tfb
Sun Mar 29, 2020 9:56 am
Forum: Personal Finance (Not Investing)
Topic: **URGENT**Mortgage broker putting 6 months refinance restriction
Replies: 10
Views: 1785

Re: **URGENT**Mortgage broker putting 6 months refinance restriction

Is it legal for the broker to enforce such 6 months restriction which is conflicting with actual loan documents. Please advice at the earliest(we will have to make our decision by this week). The broker isn't restricting you from refinancing. He's only asking for compensation for the work he previo...
by tfb
Mon Mar 23, 2020 7:54 pm
Forum: Personal Investments
Topic: 9 Reasons Not to Tax Loss Harvest (WCI)
Replies: 50
Views: 4353

Re: 9 Reasons Not to Tax Loss Harvest (WCI)

I don't think they can be exchanged though like mutual funds are at 4 pm each day. I'd love to know if there is a way to do so. Not exactly at 4 pm but here's an idea from indexfundfan: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=308429 At Fidelity, the one-triggers-the-other order type i...
by tfb
Thu Mar 19, 2020 9:16 am
Forum: Investing - Theory, News & General
Topic: Fed to Backstop Money-Market Mutual Funds 3/18/20
Replies: 38
Views: 2994

Re: Fed to Backstop Money-Market Mutual Funds 3/18/20

Safe from breaking the buck doesn't stop the yield from going toward zero. Money market funds paid 0.01% for years during the financial crisis.
by tfb
Mon Mar 09, 2020 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Resident Physician, ZERO federal tax, check the math
Replies: 17
Views: 2155

Re: Resident Physician, ZERO federal tax, check the math

Savers Credit ............................................ -200 ($ 2000 x 0.1. Total income was approx 29000 due to capital gains) Students don't qualify for the saver's credit. You were a student if during any part of 5 calendar months of 2019 you: • Were enrolled as a full-time student at a schoo...
by tfb
Mon Feb 24, 2020 1:26 am
Forum: Personal Finance (Not Investing)
Topic: ACH going from financial institution A to B to C
Replies: 7
Views: 736

Re: ACH going from financial institution A to B to C

flight wrote:
Sun Feb 23, 2020 9:24 pm
A and C are not banks, so not sure I can link them directly.
Depending on who C is, non-banks can be linked directly. When I sell from Vanguard, the proceeds go to Fidelity.
by tfb
Mon Feb 24, 2020 1:22 am
Forum: Personal Finance (Not Investing)
Topic: 401K Rollover + Maga backdoor tax reporting question
Replies: 2
Views: 241

Re: 401K Rollover + Maga backdoor tax reporting question

1) When importing this 1099R with TurboTax, it asks me: "Was this Money Rolled Over to a Roth IRA?" the answer is "some of it, yes" but if I answer just "yes" it counts all of the distribution as taxable. Is it a problem in the way Fidelity reported this situation or should O just answer "no"? 2) d...
by tfb
Sun Feb 23, 2020 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Hold on Settlement Fund
Replies: 16
Views: 1082

Re: Vanguard Hold on Settlement Fund

I transferred money from checking to Vanguard brokerage with the intent of making a full IRA contribution for the year. I did the transfer from my bank to Vanguard brokerage on Thursday. When I try to move funds from Vanguard brokerage to Vanguard IRA, it says that they are subject to a 7 day hold....
by tfb
Thu Feb 20, 2020 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Education excluded ibond interest & ACA PTC
Replies: 7
Views: 367

Re: Education excluded ibond interest & ACA PTC

In seven years I plan on using ibonds to pay my daughter's tuition. Interest used for this purpose is excluded from AGI since it is used for educational expenses. I will also be on ACA. Does this excluded interest count as "tax-exempt interest" that gets included as part of the MAGI used to figure ...
by tfb
Thu Feb 20, 2020 11:39 am
Forum: Personal Finance (Not Investing)
Topic: California HSA - How to complete Schedule CA?
Replies: 12
Views: 972

Re: California HSA - How to complete Schedule CA?

But where should I report the following earnings occurring inside the HSA? $2 in interest from an FDIC-insured "core" account $400 in dividends from FUAMX, which are 99.83% CA tax-exempt, leaving me with $1 taxable Either A or B works. As long as the state gets the adjusted income, I don't think ho...
by tfb
Sun Feb 09, 2020 1:48 am
Forum: Personal Finance (Not Investing)
Topic: Which tax software is best for S-Corp + LLC + Personal
Replies: 3
Views: 390

Re: Which tax software is best for S-Corp + LLC + Personal

Elizabelle wrote:
Sat Feb 08, 2020 1:37 pm
It seems I would not be able to get all under one product, i.e. I would have to purchase a business tax software and also a personal tax software.
H&R Block Premium & Business includes both programs in one package. It sells for $50-60 on Amazon.