Search found 582 matches

by tampaite
Mon Nov 16, 2020 7:58 pm
Forum: Personal Consumer Issues
Topic: Whole House Surge Protector
Replies: 51
Views: 7269

Re: Whole House Surge Protector

sport wrote: Mon Nov 16, 2020 6:21 pm I am considering adding a whole house surge protector to my electrical panel. I would hire an electrician for this job. This device would add some protection for the various electronic devices in my home. Are there any reasons not to do this? If I have this done, are there different brands and which ones would be preferred?
Get the EATON CHSPT2ULTRA, we have had it for 2 years and solid so far. Only $99.
by tampaite
Sun Oct 04, 2020 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Can we go to one income?
Replies: 46
Views: 5428

Re: Can we go to one income?

DELETE
by tampaite
Fri Apr 17, 2020 12:55 pm
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 1392

Re: Excess Roth IRA contribution

Got it. Thanks.

I will be paying a penalty and convert the Roth IRA into a Traditional IRA if possible.
by tampaite
Fri Apr 17, 2020 11:42 am
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 1392

Re: Excess Roth IRA contribution

lakpr wrote: Fri Apr 17, 2020 11:11 am
tampaite wrote: Fri Apr 17, 2020 11:06 am Another clarification needed.

when do I have to pay this penalty if I chose to defer?

(a) when it's time to withdrawal the money at age 59.5?
(b) when am notified by IRS during an audit - (this is obvious)
Every year 6% of the contribution with the tax returns. So in 16 years you will have paid the full amount of the excess contribution in taxes.
Maybe am not clear. Let's say I'd like to defer paying the 6% penalty with tax return. Until what time can I keep deferring? looks like in scenario (a) or (b) right?
by tampaite
Fri Apr 17, 2020 11:06 am
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 1392

Re: Excess Roth IRA contribution

Another clarification needed.

when do I have to pay this penalty if I chose to defer?

(a) when it's time to withdrawal the money at age 59.5?
(b) when am notified by IRS during an audit - (this is obvious)
by tampaite
Sun Apr 12, 2020 4:12 pm
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 1392

Re: Excess Roth IRA contribution

lakpr wrote: Sun Apr 12, 2020 3:53 pm The 6% tax is levied every year until you withdraw the excess. So to "be ahead" your Roth IRA should be earning at least 6% nominal year-in and year-out.
https://www.irs.gov/retirement-plans/pl ... ion-limits
Thanks so it makes sense to pay the 6% penalty and instead invest in a regular brokerage account ?
by tampaite
Sun Apr 12, 2020 3:47 pm
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 1392

Re: Excess Roth IRA contribution

Alan S. wrote: Sun Apr 12, 2020 2:11 pm 6% excise tax is charged on the contribution only, not on earnings.
Thank you.

Hypothetically, if the earnings on 2018 contribution was say 7% and i continue to incur 6% penalty - wouldn't I be ahead?
nalor511 wrote: Sun Apr 12, 2020 12:44 pm https://www.irs.gov/faqs/irs-procedures ... form-1040x

You are well within 3 years from filing deadline of sometime in 2019 for ty2018 tax filing
I think this applies to only errors(unintended). I didn't make an error but rather didn't disclose(maybe this is the distinction?)
by tampaite
Sun Apr 12, 2020 12:12 pm
Forum: Personal Investments
Topic: Excess Roth IRA contribution
Replies: 13
Views: 1392

Excess Roth IRA contribution

Doing my taxes and I realized that I made excess contribution into Roth IRA for following tax years: 2018, 2019 and 2020

I can withdraw 2019 and 2020 and pay the necessary penalty before filing taxes(I intend to file in July than April due to Covid-19 extension).

Q: what to do with 2018 contribution? the deadline for filing an amended tax return has passed.

2018 contribution limit was $5,550. If I let it continue, will I be paying 6% of $5,500 until foreseeable future? what about earnings? will that still be tax-free upon withdrawal? or is the 6% tax both on contribution amount and earnings?
by tampaite
Mon Nov 11, 2019 7:45 am
Forum: Investing - Theory, News & General
Topic: Reduce Allocations
Replies: 8
Views: 1238

Re: Reduce Allocations

Delete
by tampaite
Sat Nov 09, 2019 6:49 pm
Forum: Investing - Theory, News & General
Topic: Reduce Allocations
Replies: 8
Views: 1238

Re: Reduce Allocations

Delete
by tampaite
Sat Nov 09, 2019 6:34 pm
Forum: Investing - Theory, News & General
Topic: Reduce Allocations
Replies: 8
Views: 1238

Re: Reduce Allocations

Delete
by tampaite
Sat Nov 09, 2019 6:11 pm
Forum: Investing - Theory, News & General
Topic: Reduce Allocations
Replies: 8
Views: 1238

Reduce Allocations

Delete
by tampaite
Fri May 17, 2019 1:15 pm
Forum: Investing - Theory, News & General
Topic: how do Tariffs impact your portfolio?
Replies: 25
Views: 1911

Re: how do Tariffs impact your portfolio?

Chuck wrote: Fri May 17, 2019 12:10 pm Tariffs decrease the efficiency of the economy, and lower overall returns. Nothing I can take action on, though.
Why not? If i say, company A efficiency is going down and your returns will be lower, you won't take any action?

How is this any different?
by tampaite
Fri May 17, 2019 11:25 am
Forum: Investing - Theory, News & General
Topic: how do Tariffs impact your portfolio?
Replies: 25
Views: 1911

Re: how do Tariffs impact your portfolio?

pdavi21 wrote: Fri May 17, 2019 11:23 am Not enough to matter.
If I wanted to look like a fool and make a guess, I'd say there would be monetary and fiscal policy changes to offset the economic impact of the tariff war if it gets any worse.
Don't underestimate your intelligence pls.

Why would there be monetary/fiscal change? I mean why do you need to offset it - why not perform the monetary/fiscal change to begin with.
by tampaite
Fri May 17, 2019 11:20 am
Forum: Investing - Theory, News & General
Topic: how do Tariffs impact your portfolio?
Replies: 25
Views: 1911

Re: how do Tariffs impact your portfolio?

MotoTrojan wrote: Fri May 17, 2019 11:15 am
Why is it a positive for bonds? Because people will flock to them?
Theoretically, with less demand and in turn less supply, companies will make less profit and eventually stocks will be less attractive.
by tampaite
Fri May 17, 2019 11:11 am
Forum: Investing - Theory, News & General
Topic: how do Tariffs impact your portfolio?
Replies: 25
Views: 1911

how do Tariffs impact your portfolio?

The current Tariffs are considered biggest indirect tax increase. Indirect or direct, bottom-line, consumers will have to pay more towards goods than they would, which means more money is going towards the cost of increase thereby limiting discretion spending.

How will this impact portfolio?

I believe with limited discretion spending, consumers will be less likely to spend and thereby create a situation where demand starts to fall and in turn, supply need to fall. Overall, its negative for stocks but positive for bonds.
by tampaite
Fri May 17, 2019 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Going rate for real estate commissions, ATL
Replies: 11
Views: 1432

Re: Going rate for real estate commissions, ATL

Deleting my messages on this forum
by tampaite
Fri May 17, 2019 8:06 am
Forum: Personal Consumer Issues
Topic: Should I replace Prius Hybrid Battery?
Replies: 44
Views: 5530

Re: Should I replace Prius Hybrid Battery?

Deleting my messages on this forum
by tampaite
Thu May 16, 2019 6:10 am
Forum: Personal Investments
Topic: How did it come to this? [Help with investments]
Replies: 51
Views: 6340

Re: How did it come to this? [Help with investments]

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 8:02 pm
Forum: Investing - Theory, News & General
Topic: Invest or Payoff Home
Replies: 38
Views: 3454

Re: Invest or Payoff Home

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 8:00 pm
Forum: Personal Investments
Topic: How did it come to this? [Help with investments]
Replies: 51
Views: 6340

Re: How did it come to this? [Help with investments]

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 8266

Re: When did you realize it wasn't enough?

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 7:22 pm
Forum: Personal Investments
Topic: How did it come to this? [Help with investments]
Replies: 51
Views: 6340

Re: How did it come to this? [Help with investments]

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 5900

Re: Concerned about getting laid off

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 11:09 am
Forum: Personal Investments
Topic: $12,000 in Bonds from Grandparents and need help!
Replies: 11
Views: 1167

Re: $12,000 in Bonds from Grandparents and need help!

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 10:11 am
Forum: Personal Consumer Issues
Topic: Home warranty - is it worth the money?
Replies: 37
Views: 5720

Re: Home warranty - is it worth the money?

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 282
Views: 58468

Re: Cash - Throw it all on the table!!!

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Concerned about getting laid off
Replies: 47
Views: 5900

Re: Concerned about getting laid off

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 8:58 am
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 8266

Re: When did you realize it wasn't enough?

Deleting my messages on this forum
by tampaite
Wed May 15, 2019 8:55 am
Forum: Personal Investments
Topic: How did it come to this? [Help with investments]
Replies: 51
Views: 6340

Re: How did it come to this? [Help with investments]

Deleting my messages on this forum
by tampaite
Tue May 14, 2019 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: Worth Fighting a Speeding Ticket?
Replies: 64
Views: 6542

Re: Worth Fighting a Speeding Ticket?

Deleting my messages on this forum
by tampaite
Tue May 14, 2019 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Pay myself for pilot training or invest them?
Replies: 18
Views: 1743

Re: Pay myself for pilot training or invest them?

Deleting my messages on this forum
by tampaite
Tue May 14, 2019 2:08 pm
Forum: Personal Investments
Topic: Account For Nieces
Replies: 22
Views: 1811

Re: Account For Nieces

Deleting my messages on this forum
by tampaite
Mon May 13, 2019 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 8266

Re: When did you realize it wasn't enough?

Deleting my messages on this forum
by tampaite
Sun May 12, 2019 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: When did you realize it wasn't enough?
Replies: 33
Views: 8266

When did you realize it wasn't enough?

Deleting my messages on this forum
by tampaite
Sun May 12, 2019 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Move out or stay at my parents?
Replies: 70
Views: 6153

Re: Move out or stay at my parents?

Deleting my messages on this forum
by tampaite
Sun May 12, 2019 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage or Pay Cash
Replies: 21
Views: 2778

Re: Mortgage or Pay Cash

Deleting my messages on this forum
by tampaite
Sun May 12, 2019 5:35 pm
Forum: Personal Investments
Topic: Please review my portfolio and retirement readiness
Replies: 10
Views: 1538

Re: Please review my portfolio and retirement readiness

Deleting my messages on this forum
by tampaite
Fri May 10, 2019 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Help me pull the trigger-need to quit
Replies: 41
Views: 6177

Re: Help me pull the trigger-need to quit

Deleting my messages on this forum
by tampaite
Thu May 09, 2019 8:50 am
Forum: Personal Consumer Issues
Topic: Whole House Surge Protection
Replies: 22
Views: 3112

Re: Whole House Surge Protection

Deleting my messages on this forum
by tampaite
Tue May 07, 2019 5:38 am
Forum: Personal Finance (Not Investing)
Topic: What if I Never Buy a House?
Replies: 109
Views: 19589

Re: What if I Never Buy a House?

Deleting my messages on this forum
by tampaite
Mon May 06, 2019 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: What if I Never Buy a House?
Replies: 109
Views: 19589

Re: What if I Never Buy a House?

Deleting my messages on this forum
by tampaite
Mon May 06, 2019 7:57 am
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 11151
Views: 2085627

Re: What Movie Have You Recently Watched?

Deleting my messages on this forum