Search found 2679 matches

by tomd37
Mon Feb 12, 2018 11:23 pm
Forum: Personal Finance (Not Investing)
Topic: Question for TaxAide Volunteers
Replies: 10
Views: 759

Re: Question for TaxAide Volunteers

Had an new client last week at my site here in Nashville. Client moved here from California and had her federal and state 2016 return done there at a Tax-Aide site. When we put her SSN in the system it had her carry forward info from California. It is my understanding that if a return was done last ...
by tomd37
Mon Feb 12, 2018 9:03 pm
Forum: Personal Consumer Issues
Topic: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns
Replies: 41
Views: 4332

Re: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns

Just called LLBean Customer Service regarding shipping charges. For orders valued under $50 there is a flat charge of $6.00. $50 or over no shipping charges. For customers like me holding a LLBean VISA card there are no shipping or return charges.
by tomd37
Mon Feb 12, 2018 6:02 pm
Forum: Personal Consumer Issues
Topic: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns
Replies: 41
Views: 4332

Re: L.L. Bean, Citing Abuse, Tightens Its Generous Policy on Returns

My parental family and now my generational family (or however I should say it) has been purchasing LLBean products since the early war years (WWII) when I was in elementary school. I have never had to return any LLBean product for quality reasons. I have returned for sizing issues and had one footwe...
by tomd37
Mon Feb 12, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Tax 2017 Residential Energy Credit Available?
Replies: 19
Views: 1042

Re: Tax 2017 Residential Energy Credit Available?

I think most people here are referring to the recently extended "Nonbusiness Energy Property Credit" versus the other "Residential Renewable Energy Tax Credit". The latter is for solar and geothermal systems etc. The former is for HVAC, insulation, windows/doors, etc. I should point out the former i...
by tomd37
Sun Feb 11, 2018 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Card Statement & Receipt Clearing - Help!
Replies: 42
Views: 2173

Re: Credit Card Statement & Receipt Clearing - Help!

I started using credit cards back in the mid-70s in the days when they imprinted the card info by a hand machine after writing in the purchase description and amounts. In those 43 years I have only found one error and it was only for one cent. Now in our early 80s, we charge virtually everything to ...
by tomd37
Sat Feb 10, 2018 12:55 pm
Forum: Personal Consumer Issues
Topic: Flat tire replacement
Replies: 26
Views: 1258

Re: Flat tire replacement

Just a reminder to people based on my consideration of and search for a new car. An increasing number of cars are coming without any type of spare tire. :annoyed
by tomd37
Fri Feb 09, 2018 11:53 am
Forum: Investing - Help with Personal Investments
Topic: IRA withdrawals and withholding/underpayment question
Replies: 4
Views: 209

Re: IRA withdrawals and withholding/underpayment question

NHRATAO1 Yesterday I was projecting my 2018 federal tax liability which includes a RMD from my and my spouse's traditional IRA. I already know what annual federal taxes will be withheld from my other income sources so I was trying to determine what tax must be withheld from m RMD in October 2018 to ...
by tomd37
Wed Feb 07, 2018 5:33 pm
Forum: Investing - Help with Personal Investments
Topic: Newly widowed mother-in-law asset allocation
Replies: 17
Views: 1217

Re: Newly widowed mother-in-law asset allocation

Donall - Please note that Qualifying Widow filing status has limitations, one of which is that you must have a qualifying dependent child. Having a qualifying child does not appear to be the situation here.
by tomd37
Mon Feb 05, 2018 11:25 pm
Forum: Investing - Help with Personal Investments
Topic: Newly widowed mother-in-law asset allocation
Replies: 17
Views: 1217

Re: Newly widowed mother-in-law asset allocation

Have to agree with 123's comment. What a mess in both taxable, traditional and Roth IRAs! :? Sounds like an investment manager's dream. Based on a defined asset allocation plan, a simple three-fund account would be best with assets being placed in their proper accounts. I'll be looking for detailed ...
by tomd37
Mon Feb 05, 2018 10:58 pm
Forum: Investing - Help with Personal Investments
Topic: Newly widowed mother-in-law asset allocation
Replies: 17
Views: 1217

Re: Newly widowed mother-in-law asset allocation

Filing status is not qualifying widow. If husband passed in 2018 filing status for tax year 2018 would be married filing jointly unless she remarries this year. Starting in tax year 2019 her filing status would be single, assuming there are no qualifying dependent children which sounds like the situ...
by tomd37
Sun Feb 04, 2018 10:56 am
Forum: Personal Consumer Issues
Topic: New Subaru Outback vs. used Volvo XC-70
Replies: 37
Views: 2867

Re: New Subaru Outback vs. used Volvo XC-70

I have been following this post intently as I am considering a replacement for my 2010 Toyota Venza 4-cyl SUV. Really want a station wagon but those are a thing of the past in the U.S. for the most part. At age 80 ease of entry/exit and visibility to the rear sides and back is quite important. As a ...
by tomd37
Wed Jan 31, 2018 5:47 pm
Forum: Personal Consumer Issues
Topic: Low depth elongated toilet?
Replies: 21
Views: 1887

Re: Low depth elongated toilet?

Mxs - You also might take the height of the toilet seat into consideration. Those that are higher are easier to use, especially if you have any trouble rising from the seat as you age.
by tomd37
Sat Jan 27, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Missed RMD
Replies: 7
Views: 695

Re: Missed RMD

Now the cloudy sky is clearing up a bit with the date of death being known. Like others, I am confident the IRS will waive the penalty. Haven't seen one yet where they haven't waived it once reported and properly accounted for. :sharebeer
by tomd37
Sat Jan 27, 2018 5:27 pm
Forum: Personal Finance (Not Investing)
Topic: Missed RMD
Replies: 7
Views: 695

Re: Missed RMD

Was there even a 2016 RMD required since the IRA was inherited in 2016? Maybe the grandmother's RMD plays into this somehow if not taken prior to passing. Whatever the case may be I am very confident the IRS would wave any penalty since you can show that both the 2016 and 2017 non-spousal RMDs were ...
by tomd37
Sat Jan 27, 2018 12:10 pm
Forum: Investing - Help with Personal Investments
Topic: How to calculate RMD on inherited inherited IRA
Replies: 5
Views: 269

Re: How to calculate RMD on inherited inherited IRA

You got it tc101! You inherited a non-spousal IRA. Just don't forget to reduce the proper factor by 1.0 each year.
by tomd37
Sun Jan 21, 2018 9:16 pm
Forum: Personal Consumer Issues
Topic: Does anyone subscribe to Kiplinger's, Kiplinger's Retirement Review, or Smart Money?
Replies: 21
Views: 1459

Re: Does anyone subscribe to Kiplinger's, Kiplinger's Retirement Review, or Smart Money?

SteveJ2 - Kiplinger's Personal Finance subscriptions are available from them at $1 per issue. Ralph124cf - In addition to doing my own taxes for 57 years, I have prepared taxes for 14 years in the AARP Foundation Tax-Aide program (Tax Counseling for the Elderly) and the IRS Volunteer Income Tax Assi...
by tomd37
Sun Jan 21, 2018 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Question re 2018 tax rates
Replies: 13
Views: 1575

Re: Question re 2018 tax rates

When it comes to discussing exemptions people need to use correct terminology; a personal exemption is for the taxpayer or spouse, and a dependent exemption is for each person who can be claimed as a dependent. Then there is a standard deduction or itemized deduction. The standard deduction can be i...
by tomd37
Sun Jan 21, 2018 8:37 pm
Forum: Personal Consumer Issues
Topic: Does anyone subscribe to Kiplinger's, Kiplinger's Retirement Review, or Smart Money?
Replies: 21
Views: 1459

Re: Does anyone subscribe to Kiplinger's, Kiplinger's Retirement Review, or Smart Money?

Five - I have had a continuous subscription to Kiplinger's Personal Finance since January 1965 (then called Kiplinger's Changing Times ). I also subscribe to The Kiplinger Tax Letter and Kiplinger's Retirement Report. We all have various reasons why we subscribe to or do not subscribe to various pub...
by tomd37
Mon Jan 15, 2018 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Standard Deduction in 2018
Replies: 16
Views: 2727

Re: Standard Deduction in 2018

Everyone will just have to wait and see if there are any change made to the adjustment amount during 2018 to determine what the actual additional adjustment amount is going to be. That's all a year away!
by tomd37
Sat Jan 13, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Standard Deduction in 2018
Replies: 16
Views: 2727

Re: Standard Deduction in 2018

Deleted
by tomd37
Fri Jan 12, 2018 4:01 pm
Forum: Personal Consumer Issues
Topic: wild bird feed
Replies: 43
Views: 1916

Re: wild bird feed

Nyc - Squirrels are hard to beat, but they can be beat! A squirrel can jump up off the ground as high as six feet and up to eight feet laterally off a building, tree, or fence. I use a bird feeder (2 of them) that prevents their access. It is the Homestead Super Stop-A-Squirrel feeder. You can find ...
by tomd37
Fri Jan 12, 2018 3:38 pm
Forum: Personal Consumer Issues
Topic: Antarctica [anyone traveled there?]
Replies: 34
Views: 2894

Re: Antarctica [anyone traveled there?]

Been there, done that! Way back in 1964 compliments of the United States Navy as a deployment with the Navy Seabees Mobile Construction Battalion Six at McMurdo Station from October '64 to February '65 doing construction work on the then developing base. But then that is not the type of cruise to wh...
by tomd37
Fri Jan 12, 2018 1:32 pm
Forum: Personal Consumer Issues
Topic: wild bird feed
Replies: 43
Views: 1916

Re: wild bird feed

I have been feeding birds ever since we returned from overseas in 1975. We have lived in coastal Virginia, the Piedmont region of North Carolina, and now in Middle Tennessee. I have five feeders out all year and in the spring through fall one of them is for our annually returning hummers. I have use...
by tomd37
Tue Jan 09, 2018 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: HR Block not counting Child Tax Credit
Replies: 5
Views: 625

Re: HR Block not counting Child Tax Credit

There may be two credits involved; child tax credit on 1040 line 52 (non-refundable) and additional child tax credit on 1040 line 67. I bet they both add up to the $1,000 per child if under the age of 17 at the end of December 2017. Check it out and let us know.
by tomd37
Tue Jan 02, 2018 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Keeping a checkbook register
Replies: 95
Views: 5888

Re: Keeping a checkbook register

I am in my early 80s and have had a checking account since age 15. Always reconcile my account monthly and check off reconciled checks in the check register. Two days ago received and reconciled December's statement and found three $100 personal gift checks dating back to mid-October that recipients...
by tomd37
Sun Dec 31, 2017 11:15 pm
Forum: Personal Consumer Issues
Topic: residential gas furnace/air conditioner recommendations
Replies: 15
Views: 926

Re: residential gas furnace/air conditioner recommendations

I used to have a note on my bulletin board but cannot find it now. There are three or four manufacturers that produce virtually identical units but put different labels on them. For example I know Trane and American Standard are made on the same manufacturing line but have very slight differences. G...
by tomd37
Sun Dec 31, 2017 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: What is best tax software for free filing - low income retirees?
Replies: 16
Views: 808

Re: What is best tax software for free filing - low income retirees?

That's a picture of our former State Coordinator for Tennessee, Pat Bryant. She was a great leader in our state Tax-Aide program for a number of years until she reached the years of service limit. Thanks Pat!
by tomd37
Sun Dec 31, 2017 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: No earned income, how do you pay tax for pensions, SS and RMDs
Replies: 43
Views: 3687

Re: Retirees: No earned income, how do you pay tax for pensions, SS and RMDs

Lynette - As an older retired couple in our early 80's our income primarily consists of my military pension, our social security benefits, interest, and our RMDs from our traditional IRAs. Upon retirement in 2002 we established a withholding amount from my military pension plus a specific dollar amo...
by tomd37
Sun Dec 31, 2017 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: What is best tax software for free filing - low income retirees?
Replies: 16
Views: 808

Re: What is best tax software for free filing - low income retirees?

Carl53,
There is a similar program Volunteer Income Tax Assistance (VITA) sponsored by the United Way and IRS that is like the AARP Foundation Tax-Aide program. You might check to see if that program is available locally.
by tomd37
Fri Dec 29, 2017 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Will Vanguard/Fidelity automatically deduct QCD from RMD?
Replies: 12
Views: 814

Re: Will Vanguard/Fidelity automatically deduct QCD from RMD?

Lynette - Being in our early 80's and having been involved with RMDs for the past ten to twelve years, we usually take our one-time annual RMD somewhere in the early October time frame. Our first step is to determine how much we are going to give to charity via the QCDs and then contact our Vanguard...
by tomd37
Fri Dec 29, 2017 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Will Vanguard/Fidelity automatically deduct QCD from RMD?
Replies: 12
Views: 814

Re: Will Vanguard/Fidelity automatically deduct QCD from RMD?

Lynette - Just want to check with you. Will you have reached the age of 70.5 on or before the date you execute your QCDs? You have to meet that requirement to make those QCDs not taxable.
by tomd37
Thu Dec 28, 2017 12:10 pm
Forum: Investing - Theory, News & General
Topic: Navy Federal CU Benefit
Replies: 3
Views: 698

Re: Navy Federal CU Benefit

Friar1610, I too have two significant dollar certificates maturing on 12/31. What I did yesterday was to establish a new 15-month certificate at the 2.25% APY to which they added the additional 0.5% special 50-year membership bonus for a total APY of 2.75%. The next step was to instruct the represen...
by tomd37
Wed Dec 27, 2017 11:30 am
Forum: Investing - Theory, News & General
Topic: Navy Federal CU Benefit
Replies: 3
Views: 698

Navy Federal CU Benefit

I was seeking some certificate (CD) information from NFCU today and was informed of a special benefit that I did not know about. As a member for more than 50 years I am entitled to a one-time 0.5% increase (bump) to any new certificate percentage offering. I seem to remember a similar offering more ...
by tomd37
Sun Dec 24, 2017 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Charitable Deduction Question
Replies: 21
Views: 1794

Re: Charitable Deduction Question

Per IRS Publication 17, Chapter 24, Contributions, page 169 "A check you mail to a charity is considered delivered on the date you mail it." Merry Christmas and thanks for the contribution to a charitable organization.
by tomd37
Sat Dec 23, 2017 9:08 pm
Forum: Investing - Help with Personal Investments
Topic: Ever tempted to shut it down once you have “enough”?
Replies: 37
Views: 4275

Re: Ever tempted to shut it down once you have “enough”?

Bob (hesson11) We retired fifteen years ago and began changes to our asset allocation then. Prior to retirement we were 60/40 stocks/bonds. At retirement we went to 50/50 and just three years ago backed down again to 40/60. While we had willingness and ability to maintain the 50/50 allocation, we no...
by tomd37
Sat Dec 23, 2017 8:56 pm
Forum: Personal Consumer Issues
Topic: Appointment Calendars from the past
Replies: 28
Views: 2261

Re: Appointment Calendars from the past

My wife keeps many notes on her monthly calendar and retains the calendars. I recently found a storage box with calendars dating back to the mid 1970's. Sort of a life history for us now in our early eighties!
by tomd37
Sat Dec 23, 2017 8:52 pm
Forum: Investing - Theory, News & General
Topic: NavyFed IRA CDs: 32-months 2.75% APY
Replies: 24
Views: 2273

Re: NavyFed IRA CDs: 32-months 2.75% API

Kitty - With your father having been a member prior to his passing I believe you might be eligible. Be sure to give them a call if at all interested in any of their benefits.
by tomd37
Sat Dec 23, 2017 8:49 pm
Forum: Investing - Theory, News & General
Topic: NavyFed IRA CDs: 32-months 2.75% APY
Replies: 24
Views: 2273

Re: NavyFed IRA CDs: 32-months 2.75% API

Rashen - You don't necessarily have to be in or have been in the Navy. Back in February of this year NFCU opened membership to anyone who has served in the U.S. military and was honorably discharged. Membership is also available to others meeting certain requirements. NFCU is the largest credit unio...
by tomd37
Fri Dec 22, 2017 11:55 pm
Forum: Personal Consumer Issues
Topic: Income tax software, "Tax Slayer".
Replies: 16
Views: 1530

Re: Income tax software, "Tax Slayer".

I personally did not have too much of a problem going to TaxSlayer last year in Tax-Aide, but then Tennessee does not have the same type of income tax that most other states have so that may have affected my thinking. So far I like some of the changes I have seen in this year's version. We'll see ho...
by tomd37
Thu Dec 21, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Planning - 11 days to donate "stuff" from garage/basement
Replies: 27
Views: 2114

Re: Tax Planning - 11 days to donate "stuff" from garage/basement

pshonore is absolutely correct. You best look at the instructions for Form 8283 as they are very detailed as to when it is needed and what documentation might be needed to support it. I speak from many years experience in the VITA/TCE programs as do others responding.
by tomd37
Thu Dec 21, 2017 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Tax Planning - 11 days to donate "stuff" from garage/basement
Replies: 27
Views: 2114

Re: Tax Planning - 11 days to donate "stuff" from garage/basement

If you are considering donations to charity I suggest you read and/or obtain a copy of IRS Publication 561 available online and for ordering a hard copy at www.irs.gov. My general comment to taxpayers making such contributions is "Don't mess with the IRS". Once on your back they are hard to get rid ...
by tomd37
Sat Dec 16, 2017 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Amended Returns ? - Alan S.
Replies: 4
Views: 736

Amended Returns ? - Alan S.

Alan - Over the years I have seen differing comments as to what documents should be included when you mail in an amended return for any given year. I know you have to include any Schedules that might be changed or added as a result of the submission of a 1040X. It has been my understanding for many ...
by tomd37
Sat Dec 16, 2017 3:45 pm
Forum: Personal Consumer Issues
Topic: US Postal Service Informed Delivery
Replies: 30
Views: 1976

Re: US Postal Service Informed Delivery

Let's not confuse USPS with UPS
by tomd37
Sat Dec 16, 2017 3:00 pm
Forum: Personal Consumer Issues
Topic: US Postal Service Informed Delivery
Replies: 30
Views: 1976

Re: US Postal Service Informed Delivery

OP here again. Informed Delivery email started up again today. Who knows what is going on! :confused
by tomd37
Sat Dec 16, 2017 10:07 am
Forum: Personal Consumer Issues
Topic: US Postal Service Informed Delivery
Replies: 30
Views: 1976

Re: US Postal Service Informed Delivery

As good as it had been working until just recently, I suspect it has something to do with the volume of mail at the holiday period and maybe some locations have temporarily stopped it. At least I hope it is a temporary stoppage.
by tomd37
Fri Dec 15, 2017 4:25 pm
Forum: Personal Consumer Issues
Topic: US Postal Service Informed Delivery
Replies: 30
Views: 1976

US Postal Service Informed Delivery

Does anyone know what has happened to the USPS Informed Delivery system this week? I have not been receiving any email notifications this week nor can I access the system through www.usps.com. :annoyed
by tomd37
Fri Dec 15, 2017 9:27 am
Forum: Personal Finance (Not Investing)
Topic: What are your favorite tax deductions and credits for 2017?
Replies: 33
Views: 2282

Re: What are your favorite tax deductions and credits for 2017?

As an elderly couple in excellent health with no adjustments to income, two personal exemptions and zero dependent exemptions, no qualifying itemized deductions, no tax credits of any type, and no other taxes our favorite reduction to income is the Qualified Charitable Distribution. This QCD, which ...
by tomd37
Mon Dec 11, 2017 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Gift Card From Employer
Replies: 13
Views: 1455

Gift Card From Employer

Reportable income by recipient and/or business expense by donor? Today I arrived at my local Costco store fifteen minutes prior to the normal opening hour of 10am thinking I could get in early ahead of the crowd to get new reading glasses. Upon arrival I was amazed to see virtually the entire parkin...
by tomd37
Mon Dec 11, 2017 5:18 pm
Forum: Investing - Theory, News & General
Topic: Contribution to family member's IRA
Replies: 4
Views: 569

Re: Contribution to family member's IRA

Deleted - Did not read initial post correctly. Sorry
by tomd37
Sun Dec 10, 2017 9:33 pm
Forum: Personal Consumer Issues
Topic: Best Parmesan Cheese for Salad
Replies: 29
Views: 1778

Re: Best Parmesan Cheese for Salad

FB01 - I shop at Publix supermarket and they carry it.