Search found 2953 matches

by tomd37
Mon May 20, 2019 1:43 pm
Forum: Personal Consumer Issues
Topic: Wiper blade replacement
Replies: 30
Views: 2480

Re: Wiper blade replacement

I am assuming responders are differentiating between rubber refills that slide into the blade, blades that attach to the wiper arm and include the rubber refill, and the wiper arm that mounts on the wiper motor fitting and includes the blade and rubber refill. Anyone care to respond and share their ...
by tomd37
Sat May 18, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Amending 2017 Taxes - Mortgage Interest
Replies: 3
Views: 328

Re: Amending 2017 Taxes - Mortgage Interest

Squirm - You have to prepare and mail an amended return using the 2017 Form 1040-X. You will have to include a revised Schedule A as that Schedule is the one affected. You do not have to nor should you send the mortgage interest statements. They are reflected on Schedule A.
by tomd37
Fri May 17, 2019 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Tithing
Replies: 14
Views: 1470

Re: Tithing

I give 11% of my annual gross income. 99% of it is accomplished via Qualified Charitable Distributions, thus allowing me to take the federal tax advantage as well as increasing the amount each year.
by tomd37
Tue May 14, 2019 10:02 pm
Forum: Personal Investments
Topic: Life insurance question
Replies: 5
Views: 539

Re: Life insurance question

Sissybugs - Your post hits home with me. I'm in my early 80's and just discovered how much I did not understand (and it's strictly my fault) when I converted to a universal life policy 25 years ago. Sure the premiums seemed cheap and reasonable, but upon reaching 80 I found my cash value had decreas...
by tomd37
Sat May 11, 2019 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Quick, Efficient Way to Make a QCD from a Vanguard IRA when 70.5
Replies: 24
Views: 3151

Re: Quick, Efficient Way to Make a QCD from a Vanguard IRA when 70.5

Vanguard's annual 1099-R for a RMD reports the total RMD distribution; it is up to the taxpayer to report both the total distribution and the taxable portion of that distribution on Form 1040 and its Schedules. I cannot answer the question about check writing directly from an account to apply as a Q...
by tomd37
Fri May 10, 2019 9:16 pm
Forum: Personal Investments
Topic: Timing of Roth Conversion
Replies: 7
Views: 818

Re: Timing of Roth Conversion

OP here again - I should have mentioned that my income is very stable and I know what my income and tax liability is for 2019 and the only changes would be lower interest income or slightly higher dividends and capital gain distributions. I have come within $1,000 of my tax liability for ten years n...
by tomd37
Fri May 10, 2019 7:42 pm
Forum: Personal Investments
Topic: Timing of Roth Conversion
Replies: 7
Views: 818

Re: Timing of Roth Conversion

I don't have any idea which way the market will trend for the remainder of the year and I don't know of anyone who does know. That's the issue here.
by tomd37
Fri May 10, 2019 7:23 pm
Forum: Personal Investments
Topic: Timing of Roth Conversion
Replies: 7
Views: 818

Timing of Roth Conversion

I just completed my RMD for this calendar year and I would like to do a Roth conversion of some of my Total Stock Market Index fund (VTSAX) to a long existing Roth account containing the same fund. The conversion amount will keep me under the limit for increased Medicare premiums and allow me to sta...
by tomd37
Sat May 04, 2019 10:17 am
Forum: Personal Consumer Issues
Topic: new Subaru Forester 2019 - Accessories?
Replies: 27
Views: 2292

Re: new Subaru Forester 2019 - Accessories?

MobyDick - My understanding is you can turn off the auto stop-start each time you start the vehicle by just pushing a button.
by tomd37
Thu May 02, 2019 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Exact date to file amended tax return question
Replies: 7
Views: 602

Re: Exact date to file amended tax return question

I did not see it mentioned in any of the comments, but remember an amended return cannot be filed electronically; it must be mailed. Allow adequate time for mailing, receipt, and manually posting at the IRS.
by tomd37
Tue Apr 23, 2019 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Late tax payment penalty
Replies: 7
Views: 632

Re: Late tax payment penalty

bgreader - You can use IRS Form W-4V to have tax withheld from SS benefits. I have done it for 17 years now. The withholding rates are 7, 10, 12, or 22% only and a specific dollar amount is not authorized. I have never changed SS withholding all these years, but rather opt to change my percentage or...
by tomd37
Sat Apr 20, 2019 4:53 pm
Forum: Personal Consumer Issues
Topic: USPS In transit Arriving Late
Replies: 37
Views: 3215

Re: USPS In transit Arriving Late

The USPS even messes up its own "priority mail" shipments. I ordered certain forever postage stamps online as I always do (a personal preference). I started receiving email updates on Monday saying it would be delivered Wednesday. Then later on Wednesday after a series of messages stating it would b...
by tomd37
Fri Apr 19, 2019 9:49 pm
Forum: Personal Consumer Issues
Topic: What's the lowdown on HVAC filters?
Replies: 21
Views: 1694

Re: What's the lowdown on HVAC filters?

Ykcor - My HVAC technician and the owner of the company have told me for fifteen years not to use those dense filters as they restrict the air flow and place undue burden on the system. They suggest I use the mid-grade 3-M Filtrete filter and replace it every three months. I prefer to and do replace...
by tomd37
Mon Apr 15, 2019 8:22 pm
Forum: Personal Investments
Topic: One Fund Portfolio
Replies: 23
Views: 4817

Re: One Fund Portfolio

One Ping - Sorry for the delay in responding. No, I have not done anything as yet. Will be visiting our daughter, who is pretty financial savvy, later this month and will discuss with her how she would feel about counseling my spouse should I pass first (or me if I am the survivor and if/when I need...
by tomd37
Mon Apr 15, 2019 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with Home Sale profits?
Replies: 28
Views: 2056

Re: What to do with Home Sale profits?

shell921 - Possibly yes depending on circumstances; $250K exemption amount if single, $500K exemption amount if married, maybe $500K if selling within two years of date of death of spouse and all normal requirements met. Don't forget about items that might add to your basis in the home over the year...
by tomd37
Sun Apr 14, 2019 7:36 am
Forum: Personal Finance (Not Investing)
Topic: Mail Summary of Form 1099-B
Replies: 4
Views: 446

Re: Mail Summary of Form 1099-B

Agree with FiveK's response. I have used the summary information for years now and just advise the taxpayer to keep the investment statement for at least three years. If the IRS wants the information they will request it and the taxpayer will then have to provide a copy. As mentioned in the response...
by tomd37
Fri Apr 12, 2019 9:25 am
Forum: Personal Finance (Not Investing)
Topic: What to do with Home Sale profits?
Replies: 28
Views: 2056

Re: What to do with Home Sale profits?

Pepperz - Although you have already received the correct replies, I want to comment on that "rollover" to a more expensive home you mentioned. That requirement went out back around 1995 or maybe before. I mention it only because other people may be thinking the same thing.
by tomd37
Thu Apr 11, 2019 6:17 pm
Forum: Personal Consumer Issues
Topic: Can you buy a new car with a cashiers check without unfreezing a credit freeze?
Replies: 68
Views: 4163

Re: Can you buy a new car with a cashiers check without unfreezing a credit freeze?

I have purchased three new cars since 2001; one from a local Lexus dealer, another from an out of town Toyota dealer, and the third from an out of state Lexus dealer. #1 and #2 were paid from my out of state bank account with no credit check, and #3 was paid via a cashier check with no credit check....
by tomd37
Mon Apr 08, 2019 8:19 am
Forum: Personal Consumer Issues
Topic: Who builds lenses on existing frames?
Replies: 17
Views: 1066

Re: Who builds lenses on existing frames?

I use Costco for my eyeglass requirements and have not purchased a new frame in twelve years. As mentioned in an earlier response, the last several years they have charged an extra $25 for using existing frames and that is fine with me. I don't like their new frame selection and mine are in fine con...
by tomd37
Mon Mar 25, 2019 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Strange IRS Refund from Amended Tax Return
Replies: 7
Views: 817

Re: Strange IRS Refund from Amended Tax Return

First of all, and as you initially did, wait until the initial return is accepted and any payment has cleared your bank or a refund has been received, deposited, and cleared your bank. Then, in my opinion, it is safe to file an amended return and include a check for any amount owed. Keep in mind tha...
by tomd37
Mon Mar 25, 2019 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Investopedia: Seniors Get a New Simplified Tax Form for 2019
Replies: 26
Views: 3063

Re: Investopedia: Seniors Get a New Simplified Tax Form for 2019

lepa71 - If you are referring to the new form 1040SR to be filled out by your parents for the current tax season, it does not apply. The new form is for tax year 2019 which will be filled out and submitted in 2020. Are your parents really receiving social security disability (SSDI) or just normal so...
by tomd37
Sun Mar 24, 2019 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Tax refund: take the cash or apply to next year's estimates?
Replies: 12
Views: 1499

Re: Tax refund: take the cash or apply to next year's estimates?

I volunteer in a free tax preparation program and this matter comes up from time to time. I mention to the taxpayer that a year from now it is easy to overlook the application of a refund to the following years tax return. Some of these taxpayers may not even be with us next year! If asked, I sugges...
by tomd37
Sat Mar 16, 2019 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Can I fund our Roth IRAs if we are retired no earnings but will have a federal tax refund?
Replies: 8
Views: 940

Re: Can I fund our Roth IRAs if we are retired no earnings but will have a federal tax refund?

And the IRS does know, via the reporting on your tax return, whether or not you have earned income. The IRS also knows from the documents they receive from the issuers of the W-2, 1099-MISC, etc.
by tomd37
Fri Mar 15, 2019 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Can I fund our Roth IRAs if we are retired no earnings but will have a federal tax refund?
Replies: 8
Views: 940

Re: Can I fund our Roth IRAs if we are retired no earnings but will have a federal tax refund?

In order to fund a Roth IRA you must have "earned income" of some type. As an example, that can be W-2 income or self-employment income usually reported on a 1099-MISC and reported by you on Schedules C and SE. A refund on your tax return is not earned income.
by tomd37
Fri Mar 08, 2019 3:27 pm
Forum: Personal Consumer Issues
Topic: Things to do in Maine
Replies: 48
Views: 3094

Re: Things to do in Maine

Lobster rolls $20 ? ? ? ? In the summer of 1967 I was living in Bath, ME assigned to a Navy ship under construction at Bath Iron Works. Chicken lobster was retailing for $0.99 per pound and the lobster shop would even cook it for you. Lobster rolls were selling maybe for $1.25 and were absolutely fa...
by tomd37
Sun Mar 03, 2019 8:42 pm
Forum: Personal Consumer Issues
Topic: Is Hyundai the value sweet spot?
Replies: 124
Views: 9709

Re: Is Hyundai the value sweet spot?

ASpender - Thanks for updating all of us who have been following your post. I am in the market for a new SUV and have been looking at the exact brand and trim line you purchased. Have not made a decision yet though!
by tomd37
Thu Feb 28, 2019 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Quick, Efficient Way to Make a QCD from a Vanguard IRA when 70.5
Replies: 24
Views: 3151

Re: Quick, Efficient Way to Make a QCD from a Vanguard IRA when 70.5

Joe - I basically do the same as you. I have nine annual contributions to charity via QCDs. I set up an appointment for my Flagship rep to call me. The day before the call I email him a list containing the name and amount for each recipient and the account from which the QCD is to be taken. On the c...
by tomd37
Thu Feb 28, 2019 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Quick, Efficient Way to Make a QCD from a Vanguard IRA when 70.5
Replies: 24
Views: 3151

Re: Quick, Efficient Way to Make a QCD from a Vanguard IRA when 70.5

A QCD from a traditional IRA does reduce your taxable income and the QCD cannot be used as an itemized deduction if you are itemizing on Schedule A. When you take a QCD the full amount of the RMD is reported on the 1099-R and it is up to the taxpayer to report the distribution correctly on line 4 of...
by tomd37
Mon Feb 25, 2019 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Navy Federal C.U. Witholding
Replies: 4
Views: 377

Re: Navy Federal C.U. Witholding

PoppyA - In the 14 years of doing volunteer tax returns, I could count on one hand the number of times I have seen federal taxes withheld from interest statements. It may be dependent on the institution's policy, but I have no answer for you.
by tomd37
Mon Feb 25, 2019 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Recently married, confused about W4 withholding
Replies: 3
Views: 264

Re: Recnelty married, confused about W4 withholding

Tbonerazor Since you already have a good idea of how much salary you will have in 2019, why not figure your tax bill for 2019 now taking into account your standard or itemized deduction estimates. Knowing your tax liability for 2019 and how much has been withheld to date and how much will be withhel...
by tomd37
Mon Feb 25, 2019 1:01 pm
Forum: Personal Consumer Issues
Topic: Is Hyundai the value sweet spot?
Replies: 124
Views: 9709

Re: Is Hyundai the value sweet spot?

Well, I would agree with your last sentence posted above.
by tomd37
Mon Feb 25, 2019 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Navy Federal C.U. Witholding
Replies: 4
Views: 377

Re: Navy Federal C.U. Witholding

Withholding on what type of accounts? Please provide more details.
by tomd37
Mon Feb 25, 2019 11:50 am
Forum: Personal Consumer Issues
Topic: Is Hyundai the value sweet spot?
Replies: 124
Views: 9709

Re: Is Hyundai the value sweet spot?

Turbo29 - Virtually every car on the market now that was on the market thirty years ago has improved vastly. I personally would not consider any such comparison.
by tomd37
Sun Feb 24, 2019 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Who does their own taxes?
Replies: 111
Views: 7446

Re: Who does their own taxes?

Elainet7 - Please don't do your own return if you are going to submit a return with a standard deduction of $27,000. There is no way to come up with that amount. Standard deduction for MFJ couple over 65 would be $26,600 plus $1,300 for each person deemed legally blind. Of course if you use a tax pr...
by tomd37
Sun Feb 24, 2019 2:52 pm
Forum: Personal Consumer Issues
Topic: Is Hyundai the value sweet spot?
Replies: 124
Views: 9709

Re: Is Hyundai the value sweet spot?

Centrifuge41 - Never rely on any gauge or computer to compute mpg. Always divide the miles driven between each fill up by the exact gallons put in the tank at that fill up. And yes, you will get poor mpg with short trips like you describe.
by tomd37
Sat Feb 23, 2019 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Anybody know the answer to this tax question?
Replies: 5
Views: 664

Re: Anybody know the answer to this tax question?

When clients have to prepare and submit an amended paper return they are always advised not to mail their amended return until they either receive the refund due them or can confirm that their account has been debited for the amount that was due.
by tomd37
Thu Feb 21, 2019 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Annual Social Security Statement: Earnings Rounded DOWN?
Replies: 11
Views: 855

Re: Annual Social Security Statement: Earnings Rounded DOWN?

It sounds like the poster needs more than 403b help! OP, do you really think a $1 difference is going to make any difference in any calculations of social security benefits? :oops:
by tomd37
Mon Feb 18, 2019 5:58 pm
Forum: Personal Consumer Issues
Topic: Kitchen Faucet question
Replies: 14
Views: 1214

Re: Kitchen Faucet question

Not that this applies to the original post, but I just had an issue with my Kohler single-handle kitchen faucet. I was losing water pressure on the hot water side of the unit over the last month. Finally the flow virtually stopped on both sides. When the faucet was disassembled we found all sorts of...
by tomd37
Mon Feb 18, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Deducting Home Improvements:
Replies: 10
Views: 764

Re: Deducting Home Improvements:

There are two types of energy credits; The Non-Business Energy Property Tax Credit which has not been renewed for tax year 2018 and is now a cumulative tax credit limit since 2006 of $500. This was for HVAC, windows, doors, insulation, etc. Also, they would not apply to new construction and rentals ...
by tomd37
Sat Feb 16, 2019 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Deducting Home Improvements:
Replies: 10
Views: 764

Re: Deducting Home Improvements:

Nowizard - Please explain what exactly you meant by your post.
by tomd37
Sat Feb 16, 2019 4:34 pm
Forum: Investing - Theory, News & General
Topic: Navy Federal CU Special 6-Month Certificate
Replies: 3
Views: 521

Re: Navy Federal CU Special 6-Month Certificate

I agree with UpperNwGuy regarding NFCU needing some better savings rates. I too have a disclaimer in that I have been with NFCU for 58 years now and over the past couple of years have sought other places to invest my savings and certificates funds. I do maintain my free checking account at NFCU earn...
by tomd37
Sat Feb 16, 2019 2:59 pm
Forum: Investing - Theory, News & General
Topic: Navy Federal CU Special 6-Month Certificate
Replies: 3
Views: 521

Navy Federal CU Special 6-Month Certificate

I just read where NFCU has a new "Celebration Special Rate 6-Month Certificate" (Share/IRA/ESA) at 3% APY with minimum purchase amounts of $1,000, $10,000, $20,000, $50,000 and $100,000. No maximum purchase amount. Additional deposits not allowed. Penalties apply for early withdrawals from certifica...
by tomd37
Fri Feb 15, 2019 4:12 pm
Forum: Personal Investments
Topic: Timing of QCDs and RMDs
Replies: 15
Views: 953

Timing of QCDs and RMDs

I normally take my annual QCDs in August and shortly after they are received and sent out I take my remaining RMD. Have been doing it this way for ten years. My questions pertains to the upbeat current market performance and the timing of the QCDs and RMD this year. In your opinion is it better to t...
by tomd37
Thu Feb 14, 2019 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Fast turnaround on Federal Tax
Replies: 40
Views: 3674

Re: Fast turnaround on Federal Tax

As a volunteer counselor in the AARP Foundation Tax Counseling for the Elderly program (also referred to as Tax-Aide) I have determined that many of the refunds are hitting the banks in one week, faster than last year. Was surprised to see that after the government shutdown. This does not include re...
by tomd37
Mon Feb 04, 2019 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Charitable Distributions from my IRA
Replies: 42
Views: 1908

Re: Qualified Charitable Distributions from my IRA

Cheese_breath - I have prepared my own 2018 tax return on TaxSlayer Pro software. The RMD that includes a QCD appears on the new 1040 lines 4a and 4b with 4a being the full amount and 4b being the reduced taxable amount. Further down on the return there is a notation 4b - QCD indicating the reductio...
by tomd37
Mon Feb 04, 2019 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Charitable Distributions from my IRA
Replies: 42
Views: 1908

Re: Qualified Charitable Distributions from my IRA

Most tax software programs have a field where you can indicate a portion for the RMD is for a non-taxable amount such as QCD. It will reduce the taxable amount when entering it on the 1040 form and indicate somewhere it is for a QCD.
by tomd37
Sat Feb 02, 2019 9:36 am
Forum: Personal Consumer Issues
Topic: Need Objective Mattresses Ratings and Reviews
Replies: 41
Views: 2098

Re: Need Objective Mattresses Ratings and Reviews

Carolinaman - March 2019 issue of Consumer Reports which I received in mail yesterday.
by tomd37
Thu Jan 31, 2019 7:39 pm
Forum: Personal Consumer Issues
Topic: Regular Gas in a car requiring Premium Gas (Lexus LS)
Replies: 23
Views: 1992

Re: Regular Gas in a car requiring Premium Gas (Lexus LS)

My estimate is that there is no problem whatsoever. While the performance will not be as good, the system will take care of itself and make any adjustments as needed and next fill up just go back to premium gasoline. Don't sweat the small stuff and just be thankful he was not near a diesel gas pump!
by tomd37
Tue Jan 29, 2019 8:33 pm
Forum: Personal Consumer Issues
Topic: Kitchen Sink Faucet Problem
Replies: 1
Views: 286

Kitchen Sink Faucet Problem

I have two identical Kohler single-lever faucets installed in my home, one in the kitchen sink and the other in the laundry room sink. Both units were originally installed as part of a major renovation in 2011. The kitchen unit completely bound up two years ago and Kohler sent me a complete new unit...