Search found 9150 matches

by Spirit Rider
Sun Dec 16, 2018 9:00 pm
Forum: Investing - Help with Personal Investments
Topic: Anyone heard of Blueprint Income?
Replies: 11
Views: 1490

Re: Anyone heard of Blueprint Income?

Neat. Thanks for bumping the thread. That site has some options for getting annuity quotes that are better than immediateannuities.com What are the companies offering the annuities at blueprint. You can see the ratings of the various companies at immediateannuities.com. Blueprint shows all the rati...
by Spirit Rider
Sun Dec 16, 2018 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare 6-month retroactive benefit rule & HSA contribution eligibility
Replies: 3
Views: 301

Re: Medicare 6-month retroactive benefit rule & HSA contribution eligibility

If you enroll during your Special Enrollment Period (SEP), your enrollment will be retroactive six months from the application date. I am not really a POMS guy, but I seem to vaguely remember something from sscritic about a way to do a prospective application before your (SEP), i.e. while still cove...
by Spirit Rider
Sun Dec 16, 2018 6:43 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to different HSA account?
Replies: 13
Views: 705

Re: Can I contribute to different HSA account?

zenghaidong wrote:
Sun Dec 16, 2018 4:49 pm
Looks like I have to wait till next year.
Has her open enrollment ended? You can change any enrollment option until that deadline.
by Spirit Rider
Sun Dec 16, 2018 6:40 pm
Forum: Personal Finance (Not Investing)
Topic: Real experiences of someone who did not have Medigap policy?
Replies: 18
Views: 1720

Re: Real experiences of someone who did not have Medigap policy?

To some degree, this question is somewhat like asking for the real experience of someone who chose not to carry life insurance. 8-) I guess your right, since no one has actually answered the original request for experiences. See the last paragraph of my Sat Dec 15, 2018 3:34 pm post. I was managing...
by Spirit Rider
Sun Dec 16, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Fraudulent charges on Chase Credit Card -- Chase unresponsive
Replies: 15
Views: 2830

Re: Fraudulent charges on Chase Credit Card -- Chase unresponsive

why would someone who stole your cc number have items shipped to your address? Seems odd People have been known to do this, but usually it is a family member, friend, acquaintance or someone who knows the home will likely be unoccupied during the day. Then they follow the tracking and attempt to in...
by Spirit Rider
Sat Dec 15, 2018 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle excess HSA contribution?
Replies: 5
Views: 432

Re: How to handle excess HSA contribution?

You have two choices: Ask the HSA custodian to return the excess contribution and earnings. The excess contribution will be reported in 2018 as other income because your W-2 Box 1 wages will already be reduced. The earnings will be reported in 2019 as other income. Leave the excess funds in the plan...
by Spirit Rider
Sat Dec 15, 2018 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Real experiences of someone who did not have Medigap policy?
Replies: 18
Views: 1720

Re: Real experiences of someone who did not have Medigap policy?

At a minimum, an individual should have Plan F->G* high deductible. This limits your downside risk at a fraction of the cost of Plan F->G*. *Plan F and Plan F high deductible will not be offered to new enrollees starting 1/1/2020. Plan G is currently available and Plan G high deductible will be avai...
by Spirit Rider
Sat Dec 15, 2018 4:04 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to different HSA account?
Replies: 13
Views: 705

Re: Can I contribute to different HSA account?

Can you confirm what Nate79 said? Will my wife's FSA make me ineligible for HSA contributions even I have my own HSA insurance, and She (and kids) has PPO insurance? Yes, @Nate79 is correct. From IRS Publication 969 "Other employee health plans. An employee covered by an HDHP and a health FSA or an...
by Spirit Rider
Sat Dec 15, 2018 3:50 pm
Forum: Local Chapters and Bogleheads Community
Topic: Suggestions for the Wiki
Replies: 413
Views: 247419

Re: Suggestions for the Wiki

I suggest the following updates and important additions/modifications to the Wiki. With the increasing number of forum members discussing the use of custom one-participant 401k plans. It has become apparent that the vast majority of them are not aware of the 415(c)(1)(B) 100% of compensation limit. ...
by Spirit Rider
Sat Dec 15, 2018 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Real experiences of someone who did not have Medigap policy?
Replies: 18
Views: 1720

Re: Real experiences of someone who did not have Medigap policy?

A close family member has expressed an opinion that someone would not actually be out as much as they think because there is overbilling when a person has Medicare and a Medicare supplement, and that the hospital/providers would just write off any excess charges. This is absolutely false and shows ...
by Spirit Rider
Fri Dec 14, 2018 6:57 pm
Forum: Investing - Help with Personal Investments
Topic: Can I contribute to different HSA account?
Replies: 13
Views: 705

Re: Can I contribute to different HSA account?

Important! OP, when did the First American Bank account balance go to $0? If it is > 18 months, opening and contributing to a new HSA account regardless if it is First American Bank or not. Will reset the "establishment date" to the date of the first contribution to this account. This is important, ...
by Spirit Rider
Fri Dec 14, 2018 6:34 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Withdrawals at age 70
Replies: 24
Views: 1448

Re: IRA Withdrawals at age 70

Note: In a year an RMD is required, the first distributions up to the RMD amount are considered the RMD. In order for the distributions to be considered a QCD in the year you turn 70.5. The first distributions of the year must be the QCD after your birthday. My understanding is that the first withd...
by Spirit Rider
Fri Dec 14, 2018 2:23 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Withdrawals at age 70
Replies: 24
Views: 1448

Re: IRA Withdrawals at age 70

Note: In a year an RMD is required, the first distributions up to the RMD amount are considered the RMD.

In order for the distributions to be considered a QCD in the year you turn 70.5. The first distributions of the year must be the QCD after your birthday.
by Spirit Rider
Fri Dec 14, 2018 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Withdrawals at age 70
Replies: 24
Views: 1448

Re: IRA Withdrawals at age 70

Correct, you can not make a QCD prior to your actual 70 1/2 birthday, but there is no reason to defer it to the next April.
by Spirit Rider
Fri Dec 14, 2018 1:23 pm
Forum: Investing - Help with Personal Investments
Topic: convert to TSP Roth or existing brokerage Roth?
Replies: 20
Views: 1193

Re: convert to TSP Roth or existing brokerage Roth?

I am separated from service and over 59 1/2 so should be no problem. You still only have one partial withdrawal (in-service and post-separation) combined until SEP/2019. From the TSP: After Separation. "You are eligible to make a one-time-only withdrawal of part of your TSP account so long as you d...
by Spirit Rider
Fri Dec 14, 2018 1:10 pm
Forum: Investing - Help with Personal Investments
Topic: Can/Should I move Solo 401k into Backdoor Roth?
Replies: 24
Views: 847

Re: Can/Should I move Solo 401k into Backdoor Roth?

The answer might be no again, but can I open a solo roth 401k in 2019 and only fund that roth moving forward while I never again invest in the solo 401k I currently have at fidelity? Because of the choice I made years ago to open a solo 401k, am I stuck with that choice forever unless I plan to pay...
by Spirit Rider
Fri Dec 14, 2018 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Withdrawals at age 70
Replies: 24
Views: 1448

Re: IRA Withdrawals at age 70

This just seems odd... if the spouse IS more than 10 years younger, and, e.g., so is the other beneficiary... But that isn't our situation, so it's just a curiosity, as are many governmental (and other) "rules". You posted before my last post. In case it isn't clear. The 10 year age difference only...
by Spirit Rider
Fri Dec 14, 2018 12:08 pm
Forum: Investing - Help with Personal Investments
Topic: IRA Withdrawals at age 70
Replies: 24
Views: 1448

Re: IRA Withdrawals at age 70

The divisors quoted above are for: 1. Unmarried Owners 2. Married Owners whose spouses are not more than 10 years younger 3. Married Owners whose spouses are not the sole beneficiaries of their IRAs What is the difference if a spouse and, say, a sibling/child are both beneficiaries of an IRA? I quo...
by Spirit Rider
Fri Dec 14, 2018 11:51 am
Forum: Investing - Help with Personal Investments
Topic: IRA Withdrawals at age 70
Replies: 24
Views: 1448

Re: IRA Withdrawals at age 70

The divisors quoted above are for: 1. Unmarried Owners 2. Married Owners whose spouses are not more than 10 years younger 3. Married Owners whose spouses are not the sole beneficiaries of their IRAs What is the difference if a spouse and, say, a sibling/child are both beneficiaries of an IRA? I quo...
by Spirit Rider
Fri Dec 14, 2018 11:31 am
Forum: Investing - Help with Personal Investments
Topic: Can/Should I move Solo 401k into Backdoor Roth?
Replies: 24
Views: 847

Re: Can/Should I move Solo 401k into Backdoor Roth?

tomwood wrote:
Fri Dec 14, 2018 11:21 am
Your information is helpful and pointed out great reasons for me to not move money out of my solo 401k.
Do you know if I can open a roth solo 401k through another company while keeping my solo 401k at fidelity?
You can not have more than a single one-participant 401k plan at the same time.
by Spirit Rider
Fri Dec 14, 2018 1:39 am
Forum: Personal Finance (Not Investing)
Topic: FSA @ employment termination: COBRA *and* change election?
Replies: 3
Views: 314

Re: FSA @ employment termination: COBRA *and* change election?

A change in enrollment options based on a Qualifying Life Event (QLE) must be consistent with that event. Raising FSA contributions would be consistent with adding a spouse and/or dependents to your plan. Employment termination and Cobra FSA continuation would not be consistent with any change in FS...
by Spirit Rider
Fri Dec 14, 2018 1:25 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: ROTH Ira for kids

Also, was assuming that parents were only contributing for minors. I figured after they were adults they had to contribute on their own, though I hadn't looked into it. Actually, anyone can contribute to an existing IRA account on behalf of someone else. Assuming the custodian allows it and you coo...
by Spirit Rider
Fri Dec 14, 2018 1:19 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: Roth IRA for kids

* A tax return is filed (even if the minor doesn't earn enough to pay federal taxes) . For more information, please refer to IRA Publication 929, "Tax Rules for Children and Dependents." This response from Vanguard should be confusing because it is simply not true. If you check Pub 929 (their refer...
by Spirit Rider
Fri Dec 14, 2018 12:58 am
Forum: Personal Finance (Not Investing)
Topic: joint venture rules
Replies: 1
Views: 137

Re: joint venture rules

I think it is going to be difficult with such a low self-employment income for you to be able to elect a qualified joint venture. Both of you have to be considered to be "materially" participating in the joint venture. The lowest level is that each of you predominately performed 500 hours of specifi...
by Spirit Rider
Thu Dec 13, 2018 9:19 pm
Forum: Investing - Help with Personal Investments
Topic: Can/Should I move Solo 401k into Backdoor Roth?
Replies: 24
Views: 847

Re: Can/Should I move Solo 401k into Backdoor Roth?

I don't think at your age you can remove the money from the Solo 401k without terminating the plan. And as FiveK mentioned, Fidelity does not offer a Roth 401k option. This is correct. IRS regulations prohibit the in-service rollover of employee elective contributions. Terminating the plan is not a...
by Spirit Rider
Thu Dec 13, 2018 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: ROTH Ira for kids

A lot of the comments on here reflect a misunderstanding of just what a UTMA account is, reflect dishonest and unethical behavior and are direct violations of the act. UTMA statutes are based on a model act from the Uniform Law Commision. States may make small modifications to comport with their exi...
by Spirit Rider
Thu Dec 13, 2018 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: ROTH Ira for kids

I also could not find any information regarding wage limit (<600) requires no w2. Based on what I read, it seems the business needs to report any w-2 wage no matter how small amount it is. We could report our kids' income as either w2 or independent contractors. Reporting as w2 definitely has advan...
by Spirit Rider
Thu Dec 13, 2018 1:12 am
Forum: Personal Finance (Not Investing)
Topic: 401k in-service distribution/withdrawal/rollover
Replies: 1
Views: 226

Re: 401k in-service distribution/withdrawal/rollover

If a 401k allows a category of assets to be distributable, the plan must allow both distributions and direct rollovers of those assets.
by Spirit Rider
Wed Dec 12, 2018 3:24 pm
Forum: Investing - Help with Personal Investments
Topic: Super IRA account
Replies: 11
Views: 912

Re: Super IRA account

Only a governmental 457b can be rolled over to an IRA Er, I thought 401k's could also be rolled over to IRA's; I know that 403b's can. I was not excluding 401k and 403b plans. I was referring to the fact that non-governmental 457b plans can not be rolled over to anywhere but another 457b non-govern...
by Spirit Rider
Wed Dec 12, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: ROTH Ira for kids

Does the child have full access to the money when they turn 18? If so that could be dangerous. I didn't open Roth IRAs for my children until I was sure they would not donate it all to a cult or worse. Well, they do technically, but you can benignly mislead them. Just tell them they can't take the m...
by Spirit Rider
Wed Dec 12, 2018 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Received IRS letter - be proactive or sit back?
Replies: 25
Views: 2982

Re: Received IRS letter - be proactive or sit back?

I agree with @aristotelian. You should be able to do this without a lawyer unless it gets complicated. The IRS has no knowledge who is entitled to the dependency exemption unless they are provided that information. If neither of you respond, the IRS is going to likely assume the pattern and practice...
by Spirit Rider
Wed Dec 12, 2018 2:22 pm
Forum: Investing - Help with Personal Investments
Topic: Super IRA account
Replies: 11
Views: 912

Re: Super IRA account

Only a governmental 457b can be rolled over to an IRA
by Spirit Rider
Wed Dec 12, 2018 1:17 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: ROTH Ira for kids

I don't see why the daughter can't be a contractor as long as she's able to refuse work with no penalty. Is the assumption that as an assistant she has no say in when/where/how she does the job make her a W-2 employee? The ability to refuse to work without penalty is nowhere in the IRS rules with r...
by Spirit Rider
Wed Dec 12, 2018 1:01 am
Forum: Investing - Theory, News & General
Topic: reasons to avoid indirect HSA rollover?
Replies: 17
Views: 1041

Re: reasons to avoid indirect HSA rollover?

You acknowledge that 26 U.S. Code § 223 - Health savings accounts, (f) Tax treatment of distributions , (5) Rollover contribution, A and B ; is clear that the 1-year period limitation is on the distribution and not on the contribution and is entirely consistent with 26 U.S. Code § 408 - Individual r...
by Spirit Rider
Tue Dec 11, 2018 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: ROTH Ira for kids

That's actually a great idea. We do have a small family business and the kids actually do help shred on occasion (plus the occasional other small task)! Separately, would I open the ROTH similar to how I have regular accounts in their name (i.e. UTMA...) or is it just in their name alone? The I in ...
by Spirit Rider
Tue Dec 11, 2018 7:13 pm
Forum: Personal Consumer Issues
Topic: Donate to homeless?
Replies: 84
Views: 3947

Re: Donate to homeless?

As long as you understand that in the vast majority of cases you are just feeding their addition(s) (drugs and/or alcohol).

If you really want to help donate to the local shelters and/or outreach programs or even volunteer.
by Spirit Rider
Tue Dec 11, 2018 6:54 pm
Forum: Investing - Theory, News & General
Topic: reasons to avoid indirect HSA rollover?
Replies: 17
Views: 1041

Re: reasons to avoid indirect HSA rollover?

Hopefully Alan S. can confirm, but I have seen him make this exact point several times. I just wanted to get this out there to have anyone else pause before taking multiple distributions.

This should never be a problem if you are making one distribution for rollover purposes per twelve month period.
by Spirit Rider
Tue Dec 11, 2018 6:44 pm
Forum: Investing - Help with Personal Investments
Topic: HSA question
Replies: 5
Views: 459

Re: HSA question

Are you sure that the switch actually happened for December. This is the time of the year for open enrollment for 2019. You enroll Nov/Dec, but the coverage is not really effective until 1/1/19.
by Spirit Rider
Tue Dec 11, 2018 6:40 pm
Forum: Investing - Help with Personal Investments
Topic: Can one use a distribution of After-tax from 401k to do an indirect rollover?
Replies: 10
Views: 455

Re: Can one use a distribution of After-tax from 401k to do an indirect rollover?

For this employer, Fidelity is not allowing an actual trustee-to-trustee rollover of the after-tax account. Only a distribution. If I want to do it to an account at Fidelity, it only lists a brokerage account as an option or other wise the only choice is cutting a check. Sending to an IRA at Fideli...
by Spirit Rider
Tue Dec 11, 2018 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: ROTH Ira for kids

Because the lady has, I assume, a sole proprietorship, my daughter was given the job with the understanding that she's an independent contractor. Th fact that the lady is a sole proprietor has no relevance as to whether your daughter should be paid as a W-2 or an IC. Leaving aside the fact that she...
by Spirit Rider
Tue Dec 11, 2018 6:07 pm
Forum: Investing - Theory, News & General
Topic: reasons to avoid indirect HSA rollover?
Replies: 17
Views: 1041

Re: reasons to avoid indirect HSA rollover?

Bigger pain is their $2,500 / day limit to on-line distribution requests. So it's taking seven days for me to get it all out after which I'll write a check to Fidelity ( the once every 12 months is on rollover contributions, not distributions ) . Could someone please confirm if this understanding i...
by Spirit Rider
Tue Dec 11, 2018 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for kids
Replies: 100
Views: 10260

Re: ROTH Ira for kids

She's an independent contractor, which means she'll have to pay taxes no matter her age if she makes over $600. Or more specifically, she has to pay SE taxes not income taxes. More importantly, why is being paid as an independent contractor (if she is even properly classified)? If she was paid as h...
by Spirit Rider
Tue Dec 11, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Who should be the owner of a 529 Plan for my nephew?
Replies: 14
Views: 1211

Re: Who should be the owner of a 529 Plan for my nephew?

If you think there will be an impact on financial aid for your own children if you are the owner, could your mother-in-law or father-in-law (grandparents of the beneficiary) be the owner? If they are not in FL, maybe they have the chance for a tax benefit from their contributions? With a third part...
by Spirit Rider
Tue Dec 11, 2018 10:40 am
Forum: Investing - Help with Personal Investments
Topic: Tax gain harvesting for UTMA acoount
Replies: 15
Views: 862

Re: Tax gain harvesting for UTMA acoount

I put some rough numbers into Tax Act's free online calculator and it shows no Federal tax owed. Earned income: $6,000 (summer job) Long term cap gains: $4,600 Capital loss: $100 Total combined income of $10,500 for 2018 if I tax gain harvest. I still plan to check with our accountant just to be ce...
by Spirit Rider
Tue Dec 11, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: IRS on making QCD by check from IRA
Replies: 14
Views: 859

Re: IRS on making QCD by check from IRA

Does this mean that if the IRA custodian issues the check in 2018, that is sufficient to claim the QCD deduction for 2018.............that it is nice but not necessary for charity to receive check and issue receipt in 2018? The custodian reports when the distribution occurs. If the custodian cuts t...
by Spirit Rider
Tue Dec 11, 2018 10:26 am
Forum: Investing - Theory, News & General
Topic: reasons to avoid indirect HSA rollover?
Replies: 17
Views: 1041

Re: reasons to avoid indirect HSA rollover?

It would. Only a trustee -> trustee transfer requires special handling because it is not reported on a 1099-SA.
by Spirit Rider
Tue Dec 11, 2018 10:23 am
Forum: Personal Finance (Not Investing)
Topic: 401k Match for Highly compensated employee
Replies: 4
Views: 506

Re: 401k Match for Highly compensated employee

Unfortunately, she will be unable to get the full match because she will hit the contribution limit first. Technically, this is a math issue and not an HCE issue. An employee making $100K at an employer with a 200% match would also be unable to get the full match. The only time it would be an HCE is...
by Spirit Rider
Tue Dec 11, 2018 10:15 am
Forum: Investing - Theory, News & General
Topic: reasons to avoid indirect HSA rollover?
Replies: 17
Views: 1041

Re: reasons to avoid indirect HSA rollover?

An indirect rollover by definition is a normal distribution followed by a rollover contribution. No specific coding is required on the distribution. The contribution must be coded as a rollover or it will be treated as a normal contribution using up the contribution limit or be an excess contribution.
by Spirit Rider
Tue Dec 11, 2018 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Very Confused - Group 401K Profit Sharing Plan
Replies: 15
Views: 894

Re: Very Confused - Group 401K Profit Sharing Plan

I don't think I have seen a better trustee directed asset allocation, diversification and cost. The reality is that the vast majority of 401k participants would be better off with such a 401k plan. The OP can certainly adjust his overall portfolio asset allocation with outside assets if they want, b...
by Spirit Rider
Tue Dec 11, 2018 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Who should be the owner of a 529 Plan for my nephew?
Replies: 14
Views: 1211

Re: Who should be the owner of a 529 Plan for my nephew?

If you think there will be an impact on financial aid for your own children if you are the owner, could your mother-in-law or father-in-law (grandparents of the beneficiary) be the owner? If they are not in FL, maybe they have the chance for a tax benefit from their contributions? With a third part...