Search found 114 matches

by GTBuzz
Wed May 12, 2021 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: ACA Subsidy Issue
Replies: 6
Views: 869

Re: ACA Subsidy Issue

While it probably does make more sense to use your age as of January 1st to determine your premium since all policies are calendar year based, I believe the premium calculated on your newly attained age is consistent with the law/regulations. From 45 CFR § 147.102 - Fair health insurance premiums : ...
by GTBuzz
Tue May 04, 2021 9:14 pm
Forum: Personal Finance (Not Investing)
Topic: 'early retiree' Floridians ... can you share you health insurance experiences??
Replies: 11
Views: 2065

Re: 'early retiree' Floridians ... can you share you health insurance experiences??

Health insurance can be a fantastic deal for early retirees if they are able to structure their income appropriately. Because of the way subsidies are calculated, the premium you pay for a Bronze plan can actually decrease as you age. The "sweet spot" is if you can get your taxable income ...
by GTBuzz
Fri Apr 30, 2021 4:01 pm
Forum: Personal Consumer Issues
Topic: Blue Cross Blue Shield (Alabama) Settlement Notice?
Replies: 6
Views: 628

Re: Blue Cross Blue Shield (Alabama) Settlement Notice?

This sounds like the same discussion that is already ongoing here:

viewtopic.php?t=346367
by GTBuzz
Fri Apr 23, 2021 10:23 pm
Forum: Investing - Theory, News & General
Topic: I Bonds variable rate @ 3.54% in May
Replies: 195
Views: 26754

Re: I Bonds variable rate @ 3.54% in May

Thanks to #Cruncher's website, you can easily track the progress of any I Bonds here: http://eyebonds.info/ibonds/home1000.html Very neat website -- I just bookmarked it. If I make an I-Bond purchase, at some future date will the TD website tell me its current redemption value? For example, if I pu...
by GTBuzz
Fri Apr 23, 2021 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Creative ways to reduce AGI
Replies: 32
Views: 4646

Re: Creative ways to reduce AGI

See if your employer offers any types of unpaid leaves of absence or sabbatical. Also, if you and your spouse earn similar incomes this probably wouldn't work, but if one of you has a higher wage, it may become advantageous to file married filing separately next year. This is particularly true if yo...
by GTBuzz
Tue Apr 13, 2021 12:36 pm
Forum: Investing - Theory, News & General
Topic: 2021 I Bonds: what's your plan?
Replies: 222
Views: 28176

Re: 2021 I Bonds: what's your plan?

I've never had to do a Signature Guarantee before, but they sound like a complete PITA. TreasuryDirect seems to go back and forth between requiring it and not requiring it to add a new linked bank account to your account. It seems it's required to add or edit any of my linked accounts at the moment....
by GTBuzz
Tue Apr 13, 2021 10:07 am
Forum: Investing - Theory, News & General
Topic: 2021 I Bonds: what's your plan?
Replies: 222
Views: 28176

Re: 2021 I Bonds: what's your plan?

I personally don't see any reason to wait until May; I'm planning on buying my annual limit on April 30. There is a 0% chance that Treasury will increase the fixed rate in May. If you buy on April 30, hold for 14 months + 1 day, and sell on July 1, 2022, you're guaranteed minimum return is roughly 2...
by GTBuzz
Tue Apr 13, 2021 7:49 am
Forum: Investing - Theory, News & General
Topic: [Is it a good time to buy I bonds?]
Replies: 63
Views: 1096

Re: I Bonds

March CPI-U has been released as 264.877. That means a variable interest rate of 3.53% for six months! I just heard .60 overall month to month. I thought tips watch said we were at 2.10 before today’s number so wouldn’t it be 3.30%. I’m new to this by the way. The 0.6% is a seasonally-adjusted 1-mo...
by GTBuzz
Tue Apr 13, 2021 7:31 am
Forum: Investing - Theory, News & General
Topic: [Is it a good time to buy I bonds?]
Replies: 63
Views: 1096

Re: I Bonds

March CPI-U has been released as 264.877. That means a variable interest rate of 3.53% for six months!
by GTBuzz
Mon Apr 12, 2021 2:59 pm
Forum: Investing - Theory, News & General
Topic: [Is it a good time to buy I bonds?]
Replies: 63
Views: 1096

Re: I Bonds

March historically has had pretty marked increases over February (~6% annualized over the last 20 years), and crude oil prices peaked in early-mid March. I'm going to take the over of TipsWatch and guess 2.8-3.1%.
by GTBuzz
Fri Apr 09, 2021 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Why is Gold plan cheaper?
Replies: 22
Views: 2470

Re: Why is Gold plan cheaper?

MP123, can you clarify how IRS Form 8962 would allow OP to get the difference back on their taxes? I'd hate for them to rely on advice that is not correct, only for them to find out when it's too late.
by GTBuzz
Fri Apr 09, 2021 11:31 am
Forum: Personal Finance (Not Investing)
Topic: Why is Gold plan cheaper?
Replies: 22
Views: 2470

Re: Why is Gold plan cheaper?

You could also go with a Bronze plan and have money left over from the premium tax credit that would reduce your tax bill, but your potential out of pocket would be much higher because you couldn't get the CSR. I'm pretty sure this is not correct. If you change plans during the year, tax credits ge...
by GTBuzz
Thu Apr 08, 2021 10:32 am
Forum: Personal Finance (Not Investing)
Topic: TaxSoftware - Worksheets before actually filing
Replies: 8
Views: 431

Re: TaxSoftware - Worksheets before actually filing

Try FreeTaxUSA. I like it as much, if not better, than TurboTax, and you get to see all the IRS forms filled out before submitting. You also can see them before paying, because it includes free federal e-filing for everyone.
by GTBuzz
Sat Mar 06, 2021 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Unsuccessful Savings Bond Purchase with 2019 Tax Refund
Replies: 15
Views: 2433

Re: Unsuccessful Savings Bond Purchase with 2019 Tax Refund

I think I figured it out. In 2020, I made some estimated tax payments that were not even dollar amounts. On my return, I summed them up and rounded to the nearest dollar (as I did for every other entry on all my forms). Apparently, since the IRS credited each 1040-ES payment to the penny, my refund ...
by GTBuzz
Sat Mar 06, 2021 2:00 pm
Forum: Personal Consumer Issues
Topic: USPS is incredibly fast!
Replies: 163
Views: 11923

Re: USPS is incredibly fast!

A Christmas card I sent in mid December from Orlando, Florida to Southern Ontario, Canada has finally arrived at its destination. On the front it was stamped "Missent to Sri Lanka". That card probably traveled more than most of us have in the past year.
by GTBuzz
Sat Mar 06, 2021 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Unsuccessful Savings Bond Purchase with 2019 Tax Refund
Replies: 15
Views: 2433

Re: Unsuccessful Savings Bond Purchase with 2019 Tax Refund

Ressurecting this thread for 2020 Tax Year. Filed my Tax Return on February 17th via Free Fillable Forms, and included a Form 8888 for $5,000 of my refund to be in Series I Savings Bonds. I have been monitoring IRS Where's My Refund for a couple weeks, as it was taking longer for my refund to be app...
by GTBuzz
Mon Feb 22, 2021 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Back Door and Form 8606
Replies: 15
Views: 668

Re: Back Door and Form 8606

I don't think your entry for Line 2 is right. This should come from your 2019 8606 Line 14, not the amount you converted that year. If you converted your entire tIRA in 2019 with no pro rata, your new tIRA basis on your 2020 line 2 probably should be $0.
by GTBuzz
Sat Feb 06, 2021 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: $300 charitable deduction for nonitemizers for 2021 and expands to $600 for MFJ
Replies: 28
Views: 3478

Re: $300 charitable deduction for nonitemizers for 2021 and expands to $600 for MFJ

I am filing a return for my child due to having enough unearned income in UTMA/UGMA accounts, and the child is being claimed as a dependent on my return. Does anyone know if the child is eligible for this $300 charitable deduction, in addition to the $300 I'm eligible for (MFJ)? I can't find anythin...
by GTBuzz
Tue Jan 26, 2021 10:35 am
Forum: Personal Finance (Not Investing)
Topic: 2020 Taxes H&RBlock and Schedule B for 1099-DIV over $1500
Replies: 12
Views: 1098

Re: 2020 Taxes H&RBlock and Schedule B for 1099-DIV over $1500

FreeUSATax is an option that is free for anyone of any income level; you only pay for the "Deluxe" version and state e-file. The free version includes every form even complicated returns may need, and I've found the software to be as good, if not better, than TurboTax/H&R Block/etc.
by GTBuzz
Thu Jan 07, 2021 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: How do you pay your taxes? Check or EFTPS?
Replies: 80
Views: 4901

Re: How do you pay your taxes? Check or EFTPS?

credit card for bonus points +1 Bank of America Travel Rewards + Platinum Honors = 2.625% which beats 1.99% credit card fee charged by multiple vendors Can you trust the credit card vendors to actually make the payment? That is the only thing that would concern me. They aren't part of the IRS so wh...
by GTBuzz
Sun Jan 03, 2021 9:06 pm
Forum: Personal Consumer Issues
Topic: Hotels for travel through Georgia?
Replies: 37
Views: 2579

Re: Hotels for travel through Georgia?

Avoid anything between downtown Atlanta and the area around the airport and you'll be fine. I like Residence Inn for traveling with a toddler (lots of space); the one in McDonough would seem to work for you. Nice area, although that stretch of 75 can get very congested during rush hour.
by GTBuzz
Sat Dec 26, 2020 8:07 am
Forum: Personal Investments
Topic: Wash sale rules in different accounts
Replies: 4
Views: 422

Re: Wash sale rules in different accounts

Your 1099's won't show it as a wash sale, but it is still your obligation to report it as one when doing your taxes.
by GTBuzz
Tue Nov 03, 2020 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Cashing in I-bonds?
Replies: 6
Views: 1016

Re: Cashing in I-bonds?

Series I Savings Bonds adjust their value each month, on the first of the month. What you may be thinking of is that purchases are always treated as if they occurred on the first of the month, even if bought later in the month. As such, it is best to buy Series I bonds at the end of the month (as yo...
by GTBuzz
Thu Oct 22, 2020 9:21 am
Forum: Personal Consumer Issues
Topic: New kid on the way, should we get a new minivan? or else?
Replies: 58
Views: 2904

Re: New kid on the way, should we get a new minivan? or else?

We just bought a new Honda Odyssey last month to replace a Prius hatchback. We only have a one-year old, but also have a dog that we like to bring on road trips. The value of all of the additional room cannot be understated in terms of cargo room and general comfort. I would certainly recommend repl...
by GTBuzz
Tue Oct 13, 2020 7:00 am
Forum: Personal Finance (Not Investing)
Topic: QDI (Qualified Dividend Income) & Taxes
Replies: 14
Views: 1131

Re: QDI (Qualified Dividend Income) & Taxes

^ Plus NIIT? Yes, good point. Above $200k/$250k of gross income, all investment income (including QDI) generates an additional 3.8% tax, effectively resulting in a 23.8% tax rate on QDI at that income level. The Additional Medicare Tax of 0.9% would not apply though, as that only applies to wages a...
by GTBuzz
Tue Oct 13, 2020 6:29 am
Forum: Personal Finance (Not Investing)
Topic: QDI (Qualified Dividend Income) & Taxes
Replies: 14
Views: 1131

Re: QDI (Qualified Dividend Income) & Taxes

You would still technically be in the 35% tax bracket, but you would get a "discount" on your actual tax paid since it would all be at the qualified rates. Only the first $40k/$80k (Single/MFJ) of QDI would be taxed at 0%. The next ~$400k would be taxed at 15%, and the rest of QDI would be...
by GTBuzz
Thu Oct 08, 2020 7:06 am
Forum: Investing - Theory, News & General
Topic: Is this info on Big Tech valid?
Replies: 19
Views: 1282

Re: Is this info on Big Tech valid?

Whether or not it is valid, I can guarantee the forces of the market have already priced in any potential impact into the price that you would get for selling your tech stocks. If the potential swings of a particular sector of the market are concerning to you, perhaps you should sell your tech stock...
by GTBuzz
Tue Sep 08, 2020 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent care FSA - get money back?
Replies: 4
Views: 607

Re: Dependent care FSA - get money back?

Do you have any close friends or family nearby for which you can pay to watch your kid(s) on a temporary basis? We paid my Mother-in-Law to watch our child 3 days a week while mom and I both worked, which qualified for DCFSA reimbursement.
by GTBuzz
Sun Sep 06, 2020 3:51 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 6711
Views: 1465335

Re: What Movie Have You Recently Watched?

"Class Action Park" on HBO Max. Documentary about Action Park in northern New Jersey, which had several deaths and injuries over the years due to rides and operations that placed little emphasis on safety.
by GTBuzz
Tue Jul 28, 2020 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Adding Canadian Citizenship - any downsides?
Replies: 99
Views: 7706

Re: Adding Canadian Citizenship - any downsides?

One other potential benefit for your spouse I haven't seen mentioned yet is her ability to vote in Canadian elections, if she so desires. Previously, Canadian expats lost the right to vote five years after moving away. As of the last federal election in 2019, all Canadian citizens who resided in Can...
by GTBuzz
Thu Apr 30, 2020 11:31 am
Forum: Investing - Theory, News & General
Topic: I Bonds are a screaming buy - Tipswatch
Replies: 163
Views: 32062

Re: I Bonds are a screaming buy - Tipswatch

Yes, May 1st is the changeover for both fixed rate, as well as the 6-month time period for the variable rate. If you already hold I Bonds, the fixed rate never changes and the variable rate changes every six months from the 1st of the month the bond was purchased.
by GTBuzz
Mon Apr 20, 2020 5:56 pm
Forum: Investing - Theory, News & General
Topic: [Oil futures price plummets, Bogleheads react]
Replies: 154
Views: 8464

Re: [Oil futures price plummets, Bogleheads react]

Oil futures contracts are exactly what they are CONTRACTS. If you have an oil futures contract at -$40 the person on the other side of the trade is legally obligated to give you 1000 barrels of oil and pay you $40,000, if they fail to do so there could be a lawsuit I would imagine. But the futures ...
by GTBuzz
Mon Apr 20, 2020 2:11 pm
Forum: Investing - Theory, News & General
Topic: [Oil futures price plummets, Bogleheads react]
Replies: 154
Views: 8464

Re: [Oil futures price plummets, Bogleheads react]

While the numbers are historic and interesting, I would caution against reading anything into them. No one is paying anyone $40,000 to take 1,000 barrels of oil. These trades remind me of the May 2010 "Flash Crash", when many total market ETF's "traded" for pennies per share. Th...
by GTBuzz
Mon Apr 20, 2020 1:59 pm
Forum: Investing - Theory, News & General
Topic: [Oil futures price plummets, Bogleheads react]
Replies: 154
Views: 8464

Re: [Oil futures price plummets, Bogleheads react]

While the numbers are historic and interesting, I would caution against reading anything into them. No one is paying anyone $40,000 to take 1,000 barrels of oil. These trades remind me of the May 2010 "Flash Crash", when many total market ETF's "traded" for pennies per share. Tho...
by GTBuzz
Wed Apr 15, 2020 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Schedule D Tax Worksheet - Latest Changes
Replies: 2
Views: 228

Re: Schedule D Tax Worksheet - Latest Changes

Yes, it seems you understand the issue just fine. Don't feel bad, even the IRS did not discover that Schedule D was incorrect until several months after the tax filing deadline in the first year. I understand the issue only impacted Section 1250 and 28% gains. Section 1250 gains are taxed at a maxim...
by GTBuzz
Wed Apr 15, 2020 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Delay mortgage payments under CARES Act
Replies: 73
Views: 5115

Re: Delay mortgage payments under CARES Act

To be clear, I can make the payments -- I'm just thinking of taking advantage to increase cash on hand Are you "experiencing a financial hardship due to the COVID-19 emergency"? If not, then you don't qualify. You can make a case that a 20% drop in your investment account balance is a fin...
by GTBuzz
Tue Apr 14, 2020 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Delay mortgage payments under CARES Act
Replies: 73
Views: 5115

Re: Delay mortgage payments under CARES Act

PenFed is offering to tack the missed payments onto the back end. No penalties or interest, no credit score hit, nothing to lose. They're doing it month by month. They told me this is only for loans kept in house, not for mortgages with investors. Keep in mind that you are paying interest every mon...
by GTBuzz
Mon Mar 23, 2020 2:15 pm
Forum: Personal Consumer Issues
Topic: What's cheap right now?
Replies: 33
Views: 3867

Re: What's cheap right now?

I'm guessing hotel demand is completely inelastic right now. Very few people will go on vacation right now, regardless of how low rates go, so no reason to lower rates for those who have to be travelling anyways.
by GTBuzz
Fri Mar 06, 2020 8:04 am
Forum: Personal Investments
Topic: I & EE Bonds in the current environment
Replies: 31
Views: 2995

Re: I & EE Bonds in the current environment

Yes, I will be buying the maximum amount of Series I Savings bonds permissible by April 30, as the fixed rate is almost sure to drop to 0% on May 1st. Don't forget you can also buy up to $5,000 of additional paper Series I Savings Bonds with your tax refund (and easily convert them into electronic b...
by GTBuzz
Sat Feb 22, 2020 3:22 am
Forum: Personal Investments
Topic: Did I screw up my Backdoor Roth for 2019?
Replies: 15
Views: 1106

Re: Did I screw up my Backdoor Roth for 2019?

Pretty much. You definitely come out ahead of not putting anything in an IRA at all. And I wouldn't even say you were double taxed. You were just effectively forced to pay taxes now on a portion of your Rollover tIRA instead of deferring that taxation until much later (which possibly would have been...
by GTBuzz
Sat Feb 22, 2020 2:48 am
Forum: Personal Investments
Topic: Did I screw up my Backdoor Roth for 2019?
Replies: 15
Views: 1106

Re: Did I screw up my Backdoor Roth for 2019?

No, not exactly. Only the ~$6k basis will be tax free. All growth will be taxed upon distribution (or conversion to Roth). That is why the optimal strategy is to immediately covert to Roth versus letting the nondeductible tIRA grow. EDIT: Re-reading your post, yes, the $6k now in the Roth does grow ...
by GTBuzz
Sat Feb 22, 2020 2:22 am
Forum: Personal Investments
Topic: Did I screw up my Backdoor Roth for 2019?
Replies: 15
Views: 1106

Re: Did I screw up my Backdoor Roth for 2019?

Short answer is yes, since you had a balance of $100k in traditional IRA's on 12/31, the $6000 basis of your nondeductible tIRA contribution gets "spread" over the entire $106k. So only 5.66% ($6k/$106k) of your Roth conversion is nontaxable. The longer answer is that you will still retain...
by GTBuzz
Wed Jan 22, 2020 3:06 pm
Forum: Personal Consumer Issues
Topic: Magic Kingdom for a day or fun resort / hotel?
Replies: 56
Views: 4146

Re: Magic Kingdom for a day or fun resort / hotel?

I live about a mile from Magic Kingdom (have a great view of the fireworks out my backyard), so I'll chime in. As much as I love Disney, I would never recommend anyone spend the money on a one-day WDW park ticket. There's too much to see and do in one day that you'll either tire your family out tryi...
by GTBuzz
Fri Jan 17, 2020 10:58 am
Forum: Investing - Theory, News & General
Topic: Isn’t Inflation Much Larger Than 2%?
Replies: 289
Views: 19870

Re: Isn’t Inflation Much Larger Than 2%?

5-10 percent (call it an average of 7.5%) means prices doubled since 2011. I cant think of much that's truly doubled in price since 2011. I can: -Health insurance premium (250/mo -> 500/mo for silver plan) -Rent (900/mo -> 1,800/mo for 1-BD) -Housing prices (400K -> 800K median) But I guess these a...
by GTBuzz
Sat Dec 07, 2019 12:24 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 2901
Views: 462634

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

For a recent Schwab bonus I did in a taxable brokerage account, the terms stated: "For taxable accounts, excluding accounts pledged to Charles Schwab Bank, you must maintain the net deposit amount (less any market losses) at Schwab for at least one year or Schwab may charge back the cash bonus....
by GTBuzz
Tue Nov 19, 2019 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Rental property sell or rent?
Replies: 21
Views: 2077

Re: Rental property sell or rent?

Started renting it from: 2015 Nov You're aware your capital gains taxes will be based off the difference between the FMV at the time you started renting it and what you sell it for, right? There's depreciation recapture and basis adjustments and all as well. But, it felt like you were thinking taxe...
by GTBuzz
Mon Nov 11, 2019 10:43 am
Forum: Personal Finance (Not Investing)
Topic: BOA card - Preferred platinum and property taxes
Replies: 10
Views: 1931

Re: BOA card - Preferred platinum and property taxes

While property taxes should not count as online shopping, they still may qualify. If possible, do a small test payment, and you should be able to tell in your account a few days later if it was coded with the bonus. This is what I did for my HOA dues that I pay online, and I am now able to get 5.25%...
by GTBuzz
Fri Sep 27, 2019 11:15 pm
Forum: Personal Investments
Topic: Lending Club issue with 9 states
Replies: 2
Views: 815

Re: Lending Club issue with 9 states

Bumping as I just discovered I was impacted as well (also in Florida). I have ~$10,000 in a LendingClub Roth IRA. Returns were initially decent, I got a $300 bonus, and there have been no fees outside of LC's typical fees for each note. I've been essentially reinvesting only in enough new notes to m...