Search found 9091 matches

by Spirit Rider
Sun Dec 09, 2018 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: UTMA withdrawl
Replies: 1
Views: 146

Re: UTMA withdrawl

There are no explicit list of allowable expenses or UTMA police. Use your common sense. As long as it is for a specific benefit of the child. It is probably ok. If it clearly benefits the custodian, parent(s), family or someone else more that the child probably not. It might also be ok to pay for mo...
by Spirit Rider
Sun Dec 09, 2018 8:50 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k Advice
Replies: 16
Views: 497

Re: Solo 401k Advice

theplayer11 wrote:
Sun Dec 09, 2018 8:42 pm
Is the filing when the combined account balance reaches $250..meaning owner and spouse?
Yes, the plan balance not individual participant balance.
by Spirit Rider
Sun Dec 09, 2018 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

Um, I’m not sure what you’re missing here, but you just illustrated and proved my point entirely. They issued you the receipt and you walked away - end of transaction. If the company finds damage after the fact, that is on them. Nope, the receipt is only for the return of the car. It is no waiver o...
by Spirit Rider
Sun Dec 09, 2018 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: are pre-fabricated / manufactured homes a bad investment?
Replies: 66
Views: 3323

Re: are pre-fabricated / manufactured homes a bad investment?

My house is a "prefabricated" house "assembled" 30 years ago. It is a colonial with two car garage under with a 600 sq. ft. half basement, two 1200 sq. ft. floors and a walk-up 600 sq. ft. full height knee-walled third floor. The peak of my roof is 36 ft. to my garage floor. I did not even know it w...
by Spirit Rider
Sun Dec 09, 2018 6:52 pm
Forum: Investing - Help with Personal Investments
Topic: Windfall predicament
Replies: 15
Views: 1351

Re: Windfall predicament

If I recall correctly there were some sort of student-loan-availability implications if you have one, but don’t hold me to it. 529 plans owned by the parents or the students are treated for financial aid purposes as assets of the parents. They will be assessed at the same rate as taxable accounts. ...
by Spirit Rider
Sun Dec 09, 2018 6:22 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k Advice
Replies: 16
Views: 497

Re: Solo 401k Advice

@aristotelian is correct you need to adopt the one-participant 401k by 12/31, but you have until your tax filing deadline (4/15/19, MA/ME 04/17/19) including extensions (10/15/19) to actually make the employer contribution. I wouldn't wait until the last minute. I would start working on it this week...
by Spirit Rider
Sun Dec 09, 2018 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

I thought it was important to respond to your "standards committee" appeal to authority. A signature made by a secret key inside an image sensor is not sufficient to prove much beyond that the sensor was used (not that the data processed was valid), and certainly isn't useful to prove when an image...
by Spirit Rider
Sun Dec 09, 2018 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: HSA with military spouse
Replies: 4
Views: 283

Re: HSA with military spouse

It seems to me that you can suspend HSAs - I believe I have a friend who is doing that. Would that be an option while your spouse is in the military? There is no such thing as a "suspension" of HSAs. You are either eligible for contributions or not. You keep access to the HSA regardless of eligibil...
by Spirit Rider
Sun Dec 09, 2018 3:57 pm
Forum: Investing - Help with Personal Investments
Topic: Stay in Company 401 at retirement or roll to an IRA?
Replies: 10
Views: 840

Re: Stay in Company 401 at retirement or roll to an IRA?

At Vanguard you choose a withholding rate when you withdraw from a traditional IRA. You can have 00% withheld, or any percentage 10% or more. I don't know about other fund firms. The three IRA withholding options are an IRS requirement: Default is 10% You can elect 0% You can elect > 10% There is n...
by Spirit Rider
Sun Dec 09, 2018 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

You're trusting the arbitrary time programmed into the camera, or the gps signals received which can be faked? And trusting that the user hasn't set the camera up to take a picture of a picture or otherwise artificially stimulated the sensor? nice I am not trusting anything. The rental car company ...
by Spirit Rider
Sun Dec 09, 2018 3:18 pm
Forum: Investing - Theory, News & General
Topic: Rumor mill - Fidelity starting individual HSA's Nov. 15th
Replies: 640
Views: 44163

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

There are both. 1099-SA documents your distributions for inclusion on your tax return and is issued by end of January (or maybe sometime in February). 5498-SA documents your contributions and balance and is strictly for you records. For both, a copy is sent to the IRS. A Form 1099 of any kind is no...
by Spirit Rider
Sun Dec 09, 2018 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity solo 401k profit sharing contributions
Replies: 28
Views: 2432

Re: Fidelity solo 401k profit sharing contributions

I can make profit sharing/employer contributions in 2019 for 2018 by simply writing it on the contribution form and check as a 2018 prior year contribution, correct? Unfortunately, Fidelity still hasn't updated their contribution form to allow one to document what year the profit sharing contributi...
by Spirit Rider
Sun Dec 09, 2018 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

everything about an image can be faked, including all exif data. the only crypto aspect that would help would be a 3rd party timestamping signature which could prove that the image was taken at some time based on trusting the 3rd party, and this isn't an exif feature Nope, try again. Certain digita...
by Spirit Rider
Sun Dec 09, 2018 5:56 am
Forum: Personal Finance (Not Investing)
Topic: ACA, COBRA, and Medicare
Replies: 9
Views: 715

Re: ACA, COBRA, and Medicare

I do not believe @celia is correct about the pre-existing condition exclusion. That only applies if you don't have credible coverage. COBRA coverage and an ACA Marketplace plan would both be credible coverage. However, under option 1, I think you would be subject to the 10% penalty/twelve months for...
by Spirit Rider
Sun Dec 09, 2018 5:17 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity solo 401k profit sharing contributions
Replies: 28
Views: 2432

Re: Fidelity solo 401k profit sharing contributions

There is no requirement to ever make either profit sharing contributions or employee elective contributions. Just thinking out loud about advantages between employee elective contributions and profit sharing contributions. There might be others that I didn't think of. Profit Sharing AKA non-elective...
by Spirit Rider
Sun Dec 09, 2018 4:16 am
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

@criticalmass I know more than a little about EXIF and clearly more than you. I have been involved in digital imaging for more than thirty years of my 40+ year career and hold several patents. I have sat on standards committees. I have architected, designed and developed EXIF loading, storing and vi...
by Spirit Rider
Sun Dec 09, 2018 12:43 am
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

(Who is to say that your photo was taken when you left versus when you arrived?) I'm surprised you don't know this. The EXIF (EXchangeable Image file Format) has been in existence for 20 years. The date and time is recorded in the image file. Also, almost any smartphone in the last ten years has a ...
by Spirit Rider
Sat Dec 08, 2018 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

Sorry, but this just isn't the case in my experience of flying roughly 110 - 140k miles a year for the last 6 years. The ONLY airports that I've had that experience is the tiny regional airport, when I'm returning before or after hours. At any major airport, the Avis employee always checks the vehi...
by Spirit Rider
Sat Dec 08, 2018 8:43 pm
Forum: Investing - Help with Personal Investments
Topic: Stay in Company 401 at retirement or roll to an IRA?
Replies: 10
Views: 840

Re: Stay in Company 401 at retirement or roll to an IRA?

Be sure you do not get a check from your 401k! Small correction, unless the 401k and IRA are at the same custodian, it will always be a check. Rather be sure it is a direct rollover which will be a check made out to the IRA custodian FBO you. Be sure the check is not made out to you personally. As ...
by Spirit Rider
Sat Dec 08, 2018 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

While some AMEX cards my offer different coverage, when I rent in the USA using my AMEX card and decline CDW they include coverage up to $50k with no additional payment to AMEX. Other than the higher $70k limit, is there an additional advantage to paying AMEX the $19.95? The standard AMEX CDW cover...
by Spirit Rider
Sat Dec 08, 2018 6:54 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Car Damage Issue
Replies: 65
Views: 3528

Re: Rental Car Damage Issue

if there was no note of damage when your rental contract was closed, I'd tell them to stuff themselves. You have clear proof of rental return with no extras noted. At most airports, car rental return is a high volume operation that may or may not even check the fuel gauge. Fuel check and damage ass...
by Spirit Rider
Sat Dec 08, 2018 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Are 401k contribution percents on salary before or after FSA/HSA elections?
Replies: 10
Views: 686

Re: Are 401k contribution percents on salary before or after FSA/HSA elections?

Contribution percentages would always be based on gross compensation, but subject to ordering rules of mandatory deductions followed by voluntary deductions. Mandatory deduction order would generally be employment taxes, federal withholding, state withholding and government/court orders. Voluntary d...
by Spirit Rider
Sat Dec 08, 2018 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: ACA, COBRA, and Medicare
Replies: 9
Views: 715

Re: ACA, COBRA, and Medicare

With option 2, you are going to need to be on either a Medicare Advantage plan with prescription drug benefits or Medicare, Medicare Part D prescription drug plan and a Medicare Supplement plan. It will cost you more than Just the Medicare Part B premium. Also, an insurance plan cost is more than ju...
by Spirit Rider
Sat Dec 08, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Very Confused - Group 401K Profit Sharing Plan
Replies: 12
Views: 588

Re: Very Confused - Group 401K Profit Sharing Plan

Do you have any support or sources for that? Just want to learn. I thought profit sharing is a feature of a 401(k) plan, much like 401(k) matching. Yes, we think of a 401k as a plan with employee elective contributions that may or may not have employer profit sharing (non-elective) and/or matching ...
by Spirit Rider
Sat Dec 08, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Very Confused - Group 401K Profit Sharing Plan
Replies: 12
Views: 588

Re: Very Confused - Group 401K Profit Sharing Plan

While most 401k plans are now participant directed. That didn't used to be the case and trustee directed 401k plans are not uncommon in small professional plans. This is more akin to the way defined benefit pension plans are invested. The fact that the business owner is the Administrator and the Tru...
by Spirit Rider
Sat Dec 08, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Very Confused - Group 401K Profit Sharing Plan
Replies: 12
Views: 588

Re: Very Confused - Group 401K Profit Sharing Plan

Does your firm have a separate 401(k) plan? Not the 401(k) Profit Sharing Plan. Those two are different things. Your 401(k) contribution will not go to Profit Sharing plan. The Profit Sharing plan is employer's contribution (sorta like matching). Your own contribution should not go back to the 401(...
by Spirit Rider
Sat Dec 08, 2018 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: HSA transfer from one custodian to another
Replies: 4
Views: 355

Re: HSA transfer from one custodian to another

Yes, you can "move" your HSA assets from one HSA custodian to another. This can be done by one of two methods: You can only do one free indirect rollover between all of your HSA accounts per twelve month period. You can do an unlimited number of trustee -> trustee transfers between HSA accounts, but...
by Spirit Rider
Sat Dec 08, 2018 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Conversion question
Replies: 12
Views: 624

Re: Backdoor Roth Conversion question

It is running late in the year to make sure the tIRA rollover to 401k happens by 12/31/18. Get started on that right now. Once you have verified that the tIRA rollover funds are in your 401k account You can make the non-deductible traditional IRA contribution. As soon as the tIRA contribution has se...
by Spirit Rider
Sat Dec 08, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Single, self employed, 45k in debt, 375k in equity. what’s my move?
Replies: 16
Views: 1438

Re: Single, self employed, 45k in debt, 375k in equity. what’s my move?

As a single person only the first $250K of capital gains is exempt from taxes. That would be $700K if you get that - transaction costs, lets say $650K net - ($240K + improvements (let's say $35K) = $375K capital gains - $250K = $125K taxable capital gains you will pay taxes on. Also, while you are b...
by Spirit Rider
Sat Dec 08, 2018 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Can I max out both 457b and Roth IRA?
Replies: 6
Views: 612

Re: Can I max out both 457b and Roth IRA?

Silk McCue wrote:
Fri Dec 07, 2018 9:55 pm
Itsedmondfoo wrote:
Fri Dec 07, 2018 9:32 pm
Can I max out both my 457b (18,500) and Traditional IRA (5,500) in the same year?
As long as you don’t exceed IRS income limits.
And if you max out your pre-tax 457b contributions, it reduces your AGI used in the respective MAGIs.
by Spirit Rider
Sat Dec 08, 2018 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Any way to trade land without paying taxes or exchanging funds?
Replies: 19
Views: 1391

Re: Any way to trade land without paying taxes or exchanging funds?

More illegal advice. In my state, 1031 exchanges and any other real estate for real estate swaps are specifically included as subject to the transfer tax. Transfers between related parties by blood or marriage are taxed at the full market value, except no tax is due on transfers incident to divorce ...
by Spirit Rider
Sat Dec 08, 2018 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA Issues
Replies: 5
Views: 402

Re: Dependent Care FSA Issues

Note that the amount to be considered an HCE does rise in 2019. Yes, the HCE limit increases for 2019 to $125,000. However, as I already pointed out that does not apply to 2019 DCFSA contributions. Contributions to 401k plans are commonly tested against current year compensation and less commonly a...
by Spirit Rider
Fri Dec 07, 2018 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA Issues
Replies: 5
Views: 402

Re: Dependent Care FSA Issues

The High Compensated Employee (HCE) limit from the previous year is used for the DCFSA anti-inflammation testing.

The 2016/17/18 HCE limits were $120K. This means if you are >= $120K for 2018, your 2019 DCFSA contribution will be limited again.
by Spirit Rider
Fri Dec 07, 2018 10:39 pm
Forum: Investing - Help with Personal Investments
Topic: Savings Plan for a Sole Proprietor - Backdoor SEP?
Replies: 11
Views: 632

Re: Savings Plan for a Sole Proprietor - Backdoor SEP?

I always listen to someone who self-professes; "I am America’s Millennial Money Expert." Not that I have anything against Millennials. Many of them are quite knowledgeable about employer retirement plan options. Just not the "college investor." There is a lot of information about one-participant 401...
by Spirit Rider
Fri Dec 07, 2018 9:56 pm
Forum: Personal Consumer Issues
Topic: Mitsubishi ductless heating/cooling unit
Replies: 74
Views: 9243

Re: Mitsubishi ductless heating/cooling unit

Minisplits are far more common and less expensive than when I installed mine more than 20 years ago. I had no choice because I had a hydronic heating system and 100% casement windows. However, in most houses with hydronic heating systems and single/double hung or sliding windows, window air conditio...
by Spirit Rider
Fri Dec 07, 2018 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion - Proper 401K subaccount
Replies: 2
Views: 249

Re: Roth Conversion - Proper 401K subaccount

Separate "accounting" is required by participant, taxation and distributable characteristics. Many 401k plans have a single pooled account for the entire plan. You are already separated by participant. Having actual separate accounts for taxation and distributable characteristics makes that "account...
by Spirit Rider
Fri Dec 07, 2018 8:03 pm
Forum: Investing - Help with Personal Investments
Topic: 401k Overcontribution
Replies: 19
Views: 1448

Re: 401k Overcontribution

H-Town wrote:
Fri Dec 07, 2018 7:30 pm
Penalty for excess contribution is 6%.
The 6% excise tax on unremoved excess contributions does not apply to qualified plans.
by Spirit Rider
Fri Dec 07, 2018 7:13 pm
Forum: Personal Consumer Issues
Topic: Health insurance outside Obamacare exchange
Replies: 9
Views: 684

Re: Health insurance outside Obamacare exchange

There are minimum Qualified Health Plan requirements for an insurance carrier to be listed on the Exchange. A main one is that the carrier must list one Gold, one Silver and one child-only plan in each insurance region in the state. Some carriers may not want to do that. Also, now that Cost Sharing ...
by Spirit Rider
Fri Dec 07, 2018 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: County not accepting 2018 property taxes in 2018 - need help with ideas.
Replies: 138
Views: 6678

Re: County not accepting 2018 property taxes in 2018 - need help with ideas.

Remember most provisions of the individual tax scam are temporary. Except for a few provisions that stay; the limit on SALT stays and the way inflation is calculated for deduction stays. It is a sneaky tax increase. Enjoy. :beer This is clearly a contentious political post and against forum policy....
by Spirit Rider
Fri Dec 07, 2018 3:56 pm
Forum: Investing - Help with Personal Investments
Topic: 401k Overcontribution
Replies: 19
Views: 1448

Re: 401k Overcontribution

Regarding the question of when does long term compounding outweigh the double taxation, I think it is when the amount you overcontributed had earned enough to compensate the double taxation. So if you over contributed $1000, and your marginal tax rate is 22%, you will not have broke even until your...
by Spirit Rider
Fri Dec 07, 2018 3:47 pm
Forum: Investing - Help with Personal Investments
Topic: 401k Overcontribution
Replies: 19
Views: 1448

Re: 401k Overcontribution

I'm not sure I understand. Although the excess deferral is effectively a non-deductible contribution, does it not still have the tax-sheltering effect of being in the 401k? As I stated before, this is the same as making non-deductible traditional IRA contributions and 401k employee after-tax contri...
by Spirit Rider
Fri Dec 07, 2018 10:20 am
Forum: Personal Finance (Not Investing)
Topic: My ACA premiums went up 128% in 2019 anybody else get hit with big increases
Replies: 20
Views: 2969

Re: My ACA premiums went up 128% in 2019 anybody else get hit with big increases

As pointed out by @quantandhold, the percentage increase in your "subsidized" premiums is a distorted and misleading metric. My subsidized premium decreased 100%, but only changed $13.38/month. Yes, you pay the subsidized premium, but does not accurately reflect the premium increase. If your susidy ...
by Spirit Rider
Fri Dec 07, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: Mitsubishi ductless heating/cooling unit
Replies: 74
Views: 9243

Re: Mitsubishi ductless heating/cooling unit

This might be what you are hearing turning on and off. A condensate pump typically contains a tank with float switch to dynamically turn on an off.
by Spirit Rider
Fri Dec 07, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion for backdoor: wait?
Replies: 25
Views: 1323

Re: Roth conversion for backdoor: wait?

If I'm thinking about this correctly, she would then be able to contribute $19,000 (2019+) after-tax into such a plan. No. Solo 401k contribution is also limited to ~20% of her self-employment earnings. No, the OP might have been incomplete, but you are incorrect. The maximum contributions to self-...
by Spirit Rider
Fri Dec 07, 2018 12:13 am
Forum: Personal Finance (Not Investing)
Topic: Fraudulent charges on Chase Credit Card -- Chase unresponsive
Replies: 8
Views: 1744

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

Since I have no following on Twitter or Facebook, I have resorted to customer service email threatening to drop their card unless they work this out. We'll see how that goes. :| Threats are seldom effective in customer service situations and are often counter-productive. You would have been far bet...
by Spirit Rider
Thu Dec 06, 2018 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: My ACA premiums went up 128% in 2019 anybody else get hit with big increases
Replies: 20
Views: 2969

Re: My ACA premiums went up 128% in 2019 anybody else get hit with big increases

ACA subsidies were cut by the current administration, resulting in premium increases. Trying to avoid a political basis to this discussion, but facts are important. Basic ACA subsidies were NOT cut, they are fixed in law. What was done is that cost sharing reimbursements to insurance companies were...
by Spirit Rider
Thu Dec 06, 2018 9:47 pm
Forum: Personal Consumer Issues
Topic: Mitsubishi ductless heating/cooling unit
Replies: 74
Views: 9243

Re: Mitsubishi ductless heating/cooling unit

Thanks, again. I looked at the service manual and don't even see an internal condensation pump. Could it be an add on? There is a pvc drain pipe at the external unit (Condensor?) http://meus1.mylinkdrive.com/files/MSZ-MSY-GL06-24NA-U1_Service.pdf Look at the 3 SPECIFICATION on Page 6, "Cond. drain ...
by Spirit Rider
Thu Dec 06, 2018 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: County not accepting 2018 property taxes in 2018 - need help with ideas.
Replies: 138
Views: 6678

Re: County not accepting 2018 property taxes in 2018 - need help with ideas.

So send a check in for the property taxes (not sure how you know how much) and deduct it on your 2018 income tax return. See what happens. So let me see if I understand. Your approach to tax evasion to try and see if you get caught. Either the OP is in compliance with IRS rules and regulations or t...