Search found 232 matches

by Scotttheking
Tue Jan 14, 2020 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 77230

Re: Fidelity free Turbotax

Link there, but as others noted it's a bad link. I'm guessing it'll be fixed soon.
by Scotttheking
Thu Jun 06, 2019 4:09 pm
Forum: Personal Consumer Issues
Topic: Resort vacation w/ 6 month old...?
Replies: 30
Views: 1922

Re: Resort vacation w/ 6 month old...?

To belabor the point about flying just a little more, the position of the FAA is that the safest place for a child is in an approved carseat. The reason lap children are allowed is quite simple: Air travel is safer than car travel. If a family needed to buy a seat for the little one, some percentage...
by Scotttheking
Sun May 05, 2019 7:51 am
Forum: Personal Consumer Issues
Topic: Birthday party- No gifts
Replies: 42
Views: 3613

Re: Birthday party- No gifts

No gifts means no gifts. People’s inability to respect other’s wishes is sad. For our next event, I’m tempted to put something to the effect of “no gifts. If you want to bring a gift, don’t come. If you bring a gift, you’ll be asked to leave”. But what we’ll end up doing is “any gifts will be for ch...
by Scotttheking
Thu May 02, 2019 1:22 pm
Forum: Personal Consumer Issues
Topic: itchen renovation vs. investing saved cash
Replies: 7
Views: 568

Re: itchen renovation vs. investing saved cash

If you are itchen to do a renovation and it will bring you happiness, do it!
by Scotttheking
Mon Apr 22, 2019 7:07 am
Forum: Investing - Theory, News & General
Topic: When to prioritize funding 529?
Replies: 31
Views: 2611

Re: When to prioritize funding 529?

My advice, and path, is to fund retirement sufficient for a normal retirement age, such as 65, along with maxing out retirement accounts.
Next would be 529s.
Next would be taxable retirement for earlier retirement.
Next would be taxable fun money.
by Scotttheking
Sat Apr 13, 2019 9:58 pm
Forum: Personal Consumer Issues
Topic: Soon to be dad, how to prepare
Replies: 127
Views: 7574

Re: Soon to be dad, how to prepare

Take 3 months off if at all possible.
by Scotttheking
Mon Apr 01, 2019 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Legal Contract for Loan from Parents
Replies: 18
Views: 1884

Re: Legal Contract for Loan from Parents

Can you confirm that your family is writing the mortgage, ie. not doing loans from both family and bank? That’ll make it easier, and let you skip over a chunk of the feedback above. Yes, only one source of funds (my parents). Thanks to all for the information, very helpful. This would / should allo...
by Scotttheking
Mon Apr 01, 2019 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Legal Contract for Loan from Parents
Replies: 18
Views: 1884

Re: Legal Contract for Loan from Parents

Thanks to all for the advice. Follow up questions: 1. How would you decide from a purely numbers perspective whether it makes sense to take a loan from the parents at a lower than market rate or get a mortgage from a lender and deduct the interest expense? 2. Is there any scenario where a loan from...
by Scotttheking
Wed Feb 27, 2019 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Mini rant -- 401(k)s
Replies: 26
Views: 4105

Re: Mini rant -- 401(k)s

Is the 401k plan a safe harbor plan? That would get rid of hce rules.
by Scotttheking
Mon Feb 25, 2019 10:37 pm
Forum: Personal Consumer Issues
Topic: How often do you and your friends change engine oil?
Replies: 167
Views: 9557

Re: How often do you and your friends change engine oil?

When my car asks for it. Probably every 6-8 months,which is roughly 6k miles.
by Scotttheking
Sun Feb 24, 2019 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4511
Views: 866867

Re: What's Your Credit Card Rewards Strategy?

The most cost effective miles redemption I ever got was for a domestic ticket purchased the night before for a family member that was able to travel at the last minute. The $ fare had gone sky high but the miles cost was still available at the standard rate. But that trip doesn't loom large in the ...
by Scotttheking
Sun Feb 24, 2019 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Stumped filing Nanny Taxes from Schedule H using H&R Block
Replies: 5
Views: 653

Re: Stumped filing Nanny Taxes from Schedule H using H&R Block

Thanks for the replies. I will confirm with my payroll service. It seems strange to me that using the amounts provided, I owe $1.5k more in taxes even if I take credit for paying the FICA/FUTA. If I don't take credit in the "uncommon, paid SS/Medicare to state" prompt, then I owe $4k more (than my ...
by Scotttheking
Wed Feb 20, 2019 8:01 pm
Forum: Investing - Theory, News & General
Topic: 30 year Tips Auction Feb 21st: exp. yield 1.1%
Replies: 31
Views: 3649

Re: 30 year Tips Auction Feb 21st: exp. yield 1.1%

I also am doing the simple route (buying for family, not myself). Picked a dollar amount when first started, and buying that amount * the inflation index from that, so slightly increasing the buy most years. It’s a good enough portfolio for later years if inflation spikes. Not trying to be perfect.
by Scotttheking
Wed Feb 20, 2019 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: High earners: thoughts on college and aid
Replies: 91
Views: 8004

Re: High earners: thoughts on college and aid

My goal is to save to cover undergrad and at least some of grad.
by Scotttheking
Mon Feb 18, 2019 7:47 am
Forum: Personal Investments
Topic: What is your RMD (required minimum distribution) strategy?
Replies: 43
Views: 3222

Re: What is your RMD (required minimum distribution) strategy?

Roth rollovers make more sense than wirhdrawals.
by Scotttheking
Thu Feb 07, 2019 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: AA cancelled flight - results.
Replies: 31
Views: 3004

Re: AA cancelled flight - results.

You canceled an itinerary with a reasonable connection time and didn't have a better backup plan. Sorry to say, but your pain is self-inflicted. I agree, OP overreacted. 50 min connections are reasonable in most cases. AA owes him nothing. This. You could have asked for a reasonable itinerary chang...
by Scotttheking
Tue Feb 05, 2019 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Using Emergency Heat on heat pump unit
Replies: 9
Views: 536

Re: Using Emergency Heat on heat pump unit

Gets pretty cold here, and when it does (say single digit temps or lower) the heat pump unit gets more noisy outside. So, our HVAC person advises switching indoor thermostat to EM HEAT so the heat pump quits running. She tells us the heat pump just can't keep up (and we notice that it does take lon...
by Scotttheking
Mon Feb 04, 2019 5:07 pm
Forum: Investing - Theory, News & General
Topic: Inherited IRA RMD to Roth IRA
Replies: 22
Views: 1934

Re: Inherited IRA RMD to Roth IRA

No. You can fund a roth if you have earned income and meet the income limits, but you have to take the rmd and pay taxes on it.
by Scotttheking
Sun Feb 03, 2019 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: What Percentage of Your Pre-Retirement Income are You Projecting You Will Need?
Replies: 108
Views: 8009

Re: What Percentage of Your Pre-Retirement Income are You Projecting You Will Need?

I find it hard to believe that this is given the time of day on this forum, full of intelligent people. Did you read the other responses? Most are telling the OP that the goal should be to cover your expected expenses, not to achieve a percent of pre-retirement income. Right but still 101 posts? Fo...
by Scotttheking
Fri Feb 01, 2019 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Please help me understand Schedule H and Nanny taxes
Replies: 9
Views: 780

Re: Please help me understand Schedule H and Nanny taxes

First, enter what you paid to the nanny. This will generate schedule H and your tax software will tell you you owe lots of money. Then, enter what you paid as estimated taxes (1040-ES) during the year, which your provider should have listed out (mine did). This is the money that was withheld by the ...
by Scotttheking
Wed Jan 23, 2019 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets not funding a 529?
Replies: 27
Views: 4129

Re: Any regrets not funding a 529?

NoHeat wrote:
Wed Jan 23, 2019 10:01 pm
H-Town wrote:
Wed Jan 23, 2019 9:59 pm
Can you fund 529 if you haven't had your first kid yet?
Yes. Name yourself as the beneficiary. Or another qualified relative. After junior is born, change the beneficiary.
Yup. The wife and I captured another year of deduction using that method, too!
by Scotttheking
Tue Jan 22, 2019 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets not funding a 529?
Replies: 27
Views: 4129

Re: Any regrets not funding a 529?

No, because I am funding one.
by Scotttheking
Wed Jan 16, 2019 5:38 pm
Forum: US Chapters
Topic: Master thread for Washington DC Area Bogleheads
Replies: 206
Views: 80761

Re: Master thread for Washington DC Area Bogleheads

The next meeting of DC Bogleheads will be this coming Sunday, January 20, from 2:30-4:30 in meeting room #2 of the Silver Spring library. David Grabiner will be making a presentation on charitable giving and I will be giving a short presentation on one of my favorite reports about the personal fina...
by Scotttheking
Wed Jan 16, 2019 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Banking 1% extra back up to $1,000 on new money deposited
Replies: 621
Views: 73567

Re: Ally Banking 1% extra back up to $1,000 on new money deposited

Welp. Just got my email from Ally: At Ally Bank, we're all about delivering on better, and what's better than a little payback? As a thanks for taking advantage of our Payback Time promotion, a cash bonus of $1,000 will be deposited into your account ending in XXXX on or around February 5, 2019. Go...
by Scotttheking
Wed Jan 09, 2019 5:40 am
Forum: Personal Investments
Topic: Move Inherited Trad IRA Money to Trad or Roth IRA?
Replies: 12
Views: 848

Re: Move Inherited Trad IRA Money to Trad or Roth IRA?

Good plan. Do the roth at your age and income level. As others noted, you need wage income to do this plan, but I am guessing you have that.
by Scotttheking
Tue Jan 01, 2019 11:40 pm
Forum: Investing - Theory, News & General
Topic: Different times for cash to settle at fidelity?
Replies: 10
Views: 1164

Re: Different times for cash to settle at fidelity?

Same balances between the wife’s accounts and yours?
by Scotttheking
Tue Jan 01, 2019 11:25 pm
Forum: Investing - Theory, News & General
Topic: 529 plan when expecting
Replies: 5
Views: 491

Re: 529 plan when expecting

Kid due this calendar year? Wait until they are born and you have a SS #.
by Scotttheking
Thu Dec 27, 2018 3:12 am
Forum: Personal Finance (Not Investing)
Topic: Do I need to report my child's income ($1600)?
Replies: 31
Views: 3104

Re: Do I need to report my child's income ($1600)?

Thanks to everyone that posted. I learned a lot from this forum (as always). This is a new chapter in my life. So, as long as his earned income is less than $12000 and he is my dependent I will not include his earnings in my tax return. He does not have to file either as long as no taxes were withh...
by Scotttheking
Fri Dec 21, 2018 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Having minor panic about finances with second child, best way to budget?
Replies: 54
Views: 3376

Re: Having minor panic about finances with second child, best way to budget?

Childcare and housing are very regional. I would jump for joy at 20k for even a nanny share - my nanny is abour 50k/year for one child (different rate to watch 2 kids). As others said, the big items are espp - if it is a good deal then it should be sold as soon as bought, thus not being an expense a...
by Scotttheking
Tue Dec 18, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 77230

Re: Fidelity free Turbotax

The basic version includes the 5 federal for free, but does charge for state. You have to get at least the deluxe to get the free state filing. As for the discount, there seems to be a long discussion each year as to who is eligible. Not quite. The Deluxe includes includes one free state, i.e. the ...
by Scotttheking
Tue Dec 18, 2018 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 77230

Re: Fidelity free Turbotax

Is everyone getting $20 off? I recall last year it was free. That is the norm... some frequent traders and high balance/private client members get offered "free". I'm somewhat surprised that I qualified for "free" this year... I went back under the $1M dividing line due to market losses -- but sinc...
by Scotttheking
Tue Dec 18, 2018 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 77230

Re: Fidelity free Turbotax

Got it, thanks!
by Scotttheking
Tue Dec 04, 2018 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Price vs. Gross Income
Replies: 59
Views: 4724

Re: Home Purchase Price vs. Gross Income

First house was and is 3.25
by Scotttheking
Mon Dec 03, 2018 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement itch- when did you get it?
Replies: 145
Views: 16260

Re: Retirement itch- when did you get it?

Sometime in my 20s. Was going for 35, but having a kid derailed that. Now shooting for 40.
by Scotttheking
Sun Dec 02, 2018 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1586

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 3. You’ll need to buy a workers comp policy. Is the workers comp because she is full time? Workers comp insurance is based on if they are your employee, not number of hours worked. It is not required in every state, but if always a good idea....
by Scotttheking
Sat Dec 01, 2018 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1586

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 3. You’ll need to buy a workers comp policy. Is the workers comp because she is full time? Workers comp insurance is based on if they are your employee, not number of hours worked. It is not required in every state, but if always a good idea.
by Scotttheking
Sat Dec 01, 2018 10:08 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1586

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 1. No deduction for nanny wages. Can use dependent care FSA for a little bit. 2. No benefit to hours above/below 40, but you do pay time and a half over 40 hours. 3. You’ll need to buy a workers comp policy. We use a payroll service, they han...
by Scotttheking
Sat Dec 01, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1586

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 1. No deduction for nanny wages. Can use dependent care FSA for a little bit. 2. No benefit to hours above/below 40, but you do pay time and a half over 40 hours. 3. You’ll need to buy a workers comp policy. We use a payroll service, they hand...
by Scotttheking
Thu Oct 18, 2018 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 7525

Re: Depositing Cash if it was gifted?

Grt2bOutdoors wrote:
Thu Oct 18, 2018 9:32 pm
Btw, the Secret Service is a branch of the Treasury department.
Until 2003. Now it is department of homeland security.
by Scotttheking
Sun Aug 05, 2018 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Earn 1.5% on your checking account without the usual hoops (at Fidelity)
Replies: 72
Views: 15885

Re: Earn 1.5% on your checking account without the usual hoops (at Fidelity)

Open a second brokerage account. I have 2, one for stocks, one holding my cash supply in money markets. The second is linked to cma for overdrafts.
by Scotttheking
Fri Jul 27, 2018 7:00 pm
Forum: Investing - Theory, News & General
Topic: Vanguard vs Fidelity representatives
Replies: 15
Views: 2391

Re: Vanguard vs Fidelity representatives

My wife recently decided to transfer her Roth IRA account from Fidelity to Vanguard. Since she has a Vanguard Roth IRA mutual fund account, she tried to do the transfer via the internet. Transfers via the internet required establishing a new brokerage account which she did not want to do. Consequen...
by Scotttheking
Sun Jul 01, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: ? - Keep emergency credit cards for adult children - Good idea or bad?
Replies: 18
Views: 1890

Re: ? - Keep emergency credit cards for adult children - Good idea or bad?

No. Wife’s parents had her as an authorized user when she was in school and never took her off. It was an issue when it came up during our mortgage process with some problem and it was a scramble (and money) to get it removed and fixed. Also, if there’s really an emergency, we would pay and then get...
by Scotttheking
Sun Jun 17, 2018 8:59 pm
Forum: Personal Consumer Issues
Topic: Which Supermarket are you?
Replies: 155
Views: 10569

Re: Which Supermarket are you?

All my produce and much of my meat comes from my neighborhood farmers markets. I occasionally go to Whole Foods, Giant Food, and Safeway for things I can't get at the farmers markets. I like my food to be very fresh, and pesticide free. I like my meat and eggs to come from pastured animals. I disli...
by Scotttheking
Sun Jun 10, 2018 6:38 am
Forum: Personal Investments
Topic: Personal Advice for Retirement by 35?
Replies: 11
Views: 1917

Re: Personal Advice for Retirement by 35?

How much do you spend each year?