Search found 264 matches

by SpideyIndexer
Wed Feb 21, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: At Cost Health Insurance: Subsidized or Not?
Replies: 2
Views: 270

Re: At Cost Health Insurance: Subsidized or Not?

Thanks. BTW I should have mentioned it is not COBRA but a standard offering for retirees. I finally was able to unearth the information that the plan is NOT subsidized in my case, buried in an extremely long SPD.
by SpideyIndexer
Mon Feb 19, 2018 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: At Cost Health Insurance: Subsidized or Not?
Replies: 2
Views: 270

At Cost Health Insurance: Subsidized or Not?

For now I am getting health insurance as a courtesy from a former employer. It is offered "at cost" at a significantly higher rate than the premium paid by employees. For the purpose of the self-employed health insurance credit (1040 line 29) would this be considered a subsidized plan or not? Premiu...
by SpideyIndexer
Sun Feb 18, 2018 8:12 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax and backdoor Roth IRA error?
Replies: 8
Views: 694

Re: TurboTax and backdoor Roth IRA error?

If you import the 1099-R first (which is what happens if you follow the step-by-step process) it wants to tax you on the conversion, even after you later tell it you contributed to your non-deductible tIRA. That didn't happen to me. Once I entered the non-deductible tIRA contributions, that amount ...
by SpideyIndexer
Sun Feb 18, 2018 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax and backdoor Roth IRA error?
Replies: 8
Views: 694

Re: TurboTax and backdoor Roth IRA error?

One thing that got to me this year: Even if you enter the questions in the 1099-R section correctly, TurboTax will not "know" you made nondeductible IRA contributions to a tIRA unless you first enter them in the IRA contribution section. So data must be entered both places to get the program to corr...
by SpideyIndexer
Wed Dec 20, 2017 8:08 pm
Forum: Personal Finance (Not Investing)
Topic: Maximizing state tax payment & deduction in 2017
Replies: 13
Views: 1937

Re: Maximizing state tax payment & deduction in 2017

I understand one cannot deliberately make a large state income tax overpayment. However, it is permissible to make an estimated tax payment late in 2017 that is expected to bring one's state tax liability to zero when filing? In my case, I would make an estimated state tax payment in December 2017 ...
by SpideyIndexer
Mon Dec 18, 2017 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Maximizing state tax payment & deduction in 2017
Replies: 13
Views: 1937

Re: Maximizing state tax payment & deduction in 2017

I understand one cannot deliberately make a large state income tax overpayment. However, it is permissible to make an estimated tax payment late in 2017 that is expected to bring one's state tax liability to zero when filing? In my case, I would make an estimated state tax payment in December 2017 e...
by SpideyIndexer
Thu Nov 30, 2017 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 and CP3219A hassles
Replies: 10
Views: 1313

Re: IRS CP2000 and CP3219A hassles

During another telephone call, the IRS told me my case is closed and there is no tax due!!!!!

I can expect a letter to that effect within 45 days.
by SpideyIndexer
Tue Nov 28, 2017 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 and CP3219A hassles
Replies: 10
Views: 1313

Re: IRS CP2000 and CP3219A hassles

Did you get the name and badge id of the IRS representative? Every representative has a supervisor. If you get an answer that you are not satisfied with, insist on getting with his/her supervisor. I may call again and ask specifically about my recourse, and kick it upstairs if I the answer is a pro...
by SpideyIndexer
Tue Nov 28, 2017 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 and CP3219A hassles
Replies: 10
Views: 1313

Re: IRS CP2000 and CP3219A hassles

Latest, IRS does have my fax regarding calculation and contributions to the one-participant 4o1(k) plans. The examiner will respond within 60 days which may be after my deadline to petition the tax court. So....is there any reason for me to petition the tax court if i don't know what the IRS determi...
by SpideyIndexer
Mon Nov 13, 2017 1:04 am
Forum: Investing - Theory, News & General
Topic: Right Bond Allocation - Government v. Credit?
Replies: 22
Views: 2468

Re: Right Bond Allocation - Government v. Credit?

I see the point, but there is another way to look at it. Just like costs in mutual funds matter, annual returns matter. If one could really get an additional 1% annual return with a certain bond type, over 16 years the 1% could compound to 17%. However, I think looking at the bonds in isolation is o...
by SpideyIndexer
Sat Nov 11, 2017 1:05 pm
Forum: Investing - Theory, News & General
Topic: Right Bond Allocation - Government v. Credit?
Replies: 22
Views: 2468

Re: Right Bond Allocation - Government v. Credit?

I don't understand this obsession with what happened over a short period of time in 2008 in determining what kind of bonds one will own long term. Yes, corporate bonds dropped more than treasuries in 2008 but then they recovered and surpassed them in 2009 and afterwards. If you are the type to sell...
by SpideyIndexer
Sat Nov 04, 2017 2:08 pm
Forum: Investing - Help with Personal Investments
Topic: Schedule C or not for next year
Replies: 10
Views: 549

Re: Schedule C or not for next year

But supposing you get income from another organization for which you provide a service and with whom you are in an employee relationship with. Seems to me you are not necessarily self-employed in this case and so the income is simply miscellaneous non-employee income. There seems to be another set o...
by SpideyIndexer
Sat Nov 04, 2017 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: Schedule C or not for next year
Replies: 10
Views: 549

Re: Schedule C or not for next year

Hmm, I had thought there was a way to report 1099-MISC income on directly form 1040 but I am not finding it. Maybe line 21, other income? I have an acquaintance who does this so I will ask.
by SpideyIndexer
Sat Nov 04, 2017 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: Schedule C or not for next year
Replies: 10
Views: 549

Schedule C or not for next year

My my spouse's business income is tapering off and it is becoming a gray area whether my spouse will continue be a business operator. There will be some 1099 income next year and we are trying to determine if it makes sense to continue filing a schedule C and paying the local business tax. As I unde...
by SpideyIndexer
Wed Oct 18, 2017 1:24 pm
Forum: Personal Consumer Issues
Topic: New Windows 10 PC HD, file and app programs
Replies: 1
Views: 242

New Windows 10 PC HD, file and app programs

Currently on windows 7 and may soon buy a Windows 10 machine in order to ease into it slowly. From what I understand I have a bit over two years until MS stops releasing security patches for Win 7. Can I reinstall turbotax on the new machine? I have bought it via download and have an Intuit account....
by SpideyIndexer
Wed Oct 11, 2017 1:29 am
Forum: Investing - Theory, News & General
Topic: reliable investment calculator with dividends reinvested
Replies: 7
Views: 771

Re: reliable investment calculator with dividends reinvested

Msk, Yes, thanks for mentioning the "before tax" issues with PV. I had mentioned it to the organization but it seems low on their priorities. Definitely hard to address accurately in a backtesting tool. Does one enter before or after tax income for every year, or estimated tax bracket average or for...
by SpideyIndexer
Tue Oct 10, 2017 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: SEP-IRA, Solo-401k, retroactive effective dates, and overlapping
Replies: 14
Views: 1668

Re: SEP-IRA, Solo-401k, retroactive effective dates, and overlapping

Today an IRS rep said since I had a large amount of income adjustment on line 28 without justification (the solo 401(k) contributions) likely that is why it appeared on the CP2000. In that case a random percentage of those who open a solo 401(k) and make fairly large contributions might expect see a...
by SpideyIndexer
Sun Oct 08, 2017 2:47 am
Forum: Personal Finance (Not Investing)
Topic: SEP-IRA, Solo-401k, retroactive effective dates, and overlapping
Replies: 14
Views: 1668

Re: SEP-IRA, Solo-401k, retroactive effective dates, and overlapping

SR, thanks again. I agree with what you are saying about the 5498. I'm still wondering why the one-participant 401(k) plan contributions were questioned on the CP2000. I suppose the answer is that 2015 was the first year that my spouse and I both contributed to one-participant 401(k) plans, so the a...
by SpideyIndexer
Sat Oct 07, 2017 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: SEP-IRA, Solo-401k, retroactive effective dates, and overlapping
Replies: 14
Views: 1668

Re: SEP-IRA, Solo-401k, retroactive effective dates, and overlapping

Spirit RIder, Thanks very much for your reply. In your last paragraph, I think "cused" was a typo for "caused." So you are saying I was an active participant in both plans for 2015. My 2015 contribution for the SEP for made FOR TY 2014 and I claimed no IRA deductions in 2015. However, that informati...
by SpideyIndexer
Sat Oct 07, 2017 1:29 am
Forum: Personal Finance (Not Investing)
Topic: SEP-IRA, Solo-401k, retroactive effective dates, and overlapping
Replies: 14
Views: 1668

Re: SEP-IRA, Solo-401k, retroactive effective dates, and overlapping

A blast from the past. I had a similar situation but not identical: 1. SEP IRA created in 2014. Some contributions made in 2014, and topped off in March 2015 for TY 2014. 2. Solo-401(k) created June 2015 and funded, and topped off to the max on March 2016, for TY 2015. 3. Later in SEP was rolled ove...
by SpideyIndexer
Fri Oct 06, 2017 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 and CP3219A hassles
Replies: 10
Views: 1313

Re: IRS CP2000 and CP3219A hassles

Actually, the original CP2000 under the explanation of the "SEP contribution" issue calls out a form 5498 which was actually for a 2014 SEP contribution. I no longer contributed to the SEP IRA for TY 2015 and rolled it over into the SE401(k). I think the IRS has little visibility into SE401(k) contr...
by SpideyIndexer
Fri Oct 06, 2017 9:02 pm
Forum: Personal Consumer Issues
Topic: How to securely send a fax
Replies: 3
Views: 394

How to securely send a fax

Please forgive the dumb question, but this is more complicated than I expected. Do I need to buy a fax machine to do this? i would like to fax some information to the IRS that contains account numbers and SSNs. It seems there are security issues with third party e-fax providers and with going to Kin...
by SpideyIndexer
Fri Oct 06, 2017 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 and CP3219A hassles
Replies: 10
Views: 1313

Re: IRS CP2000 and CP3219A hassles

I forgot to mention, the IRS found no record of my response to the CP2000 which I sent late July by first class mail. So...I suggest that all correspondence to the IRS be sent either certified mail, or better, by fax. Fax goes directly to their office rather than to the mail room.
by SpideyIndexer
Fri Oct 06, 2017 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 and CP3219A hassles
Replies: 10
Views: 1313

Re: IRS CP2000 and CP3219A hassles

Spoke to the IRS after about a 1 hr hold. The rep was polite and easy to talk with. 1. They quickly corrected the erroneous income issue related to the estate. 2. I was mistaken about the meaning of "SEP contribution" on the "correction" to my tax form that the IRS is trying to make. In fact, I made...
by SpideyIndexer
Fri Oct 06, 2017 10:23 am
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 and CP3219A hassles
Replies: 10
Views: 1313

Re: IRS CP2000 and CP3219A hassles

It seems the best bet is to call the IRS first. With a CP3219A the clock is ticking as the deadline for the court hearing cannot be extended. I was advised to hire legal representation if it does go to court. Both our probate lawyer and tax accountant had advised that this sort of error happens all ...
by SpideyIndexer
Thu Oct 05, 2017 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: IRS CP2000 and CP3219A hassles
Replies: 10
Views: 1313

IRS CP2000 and CP3219A hassles

I received a CP2000 this past June. There were two issues they flagged. One was a SEP contribution made in early CY2015 for TY2014. The IRS mistakenly wants to give me the deduction for TY2015. The other was a problem with a form 1099-K for a decedent's estate. The form mistakenly listed payments to...
by SpideyIndexer
Thu Sep 21, 2017 1:52 am
Forum: Personal Finance (Not Investing)
Topic: Online Bill Pay Security: Push or Pull?
Replies: 102
Views: 5331

Re: Online Bill Pay Security: Push or Pull?

I'm generally in the push camp, though have a few pulls for historical reasons. I feel more in control pushing my funds. Adding a new payee is always a bit nerve-racking however. I would like things to be more automated, which probably implies changing to pulls. I also want maximum security, which c...
by SpideyIndexer
Thu Sep 21, 2017 1:14 am
Forum: Personal Consumer Issues
Topic: 2018 Subaru Outback
Replies: 65
Views: 9912

Re: 2018 Subaru Outback

Love the Outback's combination of high ground clearance and AWD. We do a bit of off-road driving, nothing serious, and the 2016 Outback does that very well. You can put kayaks on it too and haul a LOT of stuff in the back. I utterly hate the infotainment user interface, but it was not a show-stopper...
by SpideyIndexer
Tue Sep 19, 2017 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: online security questions and some comments
Replies: 16
Views: 1324

Re: online security questions and some comments

Jabberwock, is there anything that can be done to make one's cell phone number immune to convincing sob stories? Insist on not releasing it until one shows up at a store with a driver's license and passport? Victoria, good point. BUT, is there any type of 2-factor authorization that will secure emai...
by SpideyIndexer
Tue Sep 19, 2017 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: online security questions and some comments
Replies: 16
Views: 1324

online security questions and some comments

The Equifax hack is making me think more about security issues with online transactions. 1. Is it possible to insist institutions accept only your user id and not your SSN? 2. How can we increase the use of 2-factor identification? Many institutions still don't offer it. 3. There are several types o...
by SpideyIndexer
Wed Sep 13, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Equifax customer information leak
Replies: 711
Views: 56296

Re: Equifax customer information leak

So it is nice that Equifax dropped the fee for freezing credit reports from them. When will Equifax get around to refunding fees for freezes that we placed at Experian and Transunion due to their negligence? Or, more likely, they would put some sort of reciprocal agreement in place with the other bi...
by SpideyIndexer
Sun Sep 10, 2017 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Equifax customer information leak
Replies: 711
Views: 56296

Re: Equifax customer information leak

Yes, thanks, phone call worked. Funny, they did not prompt for a credit card payment for myself, but did for my spouse. Could the first one at a given address be free?

Am not over 65, nor a victim of ID theft (that I know.)
by SpideyIndexer
Sun Sep 10, 2017 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Equifax customer information leak
Replies: 711
Views: 56296

Re: Equifax customer information leak

Is it normal that TransUnion requires one to become a "member" in order to place a credit freeze? There is no charge, just another userid + password each for me and my spouse.
by SpideyIndexer
Sun Aug 27, 2017 12:42 am
Forum: Investing - Help with Personal Investments
Topic: Transitioning management of investments as cognitive ability declines
Replies: 46
Views: 4570

Re: Transitioning management of investments as cognitive ability declines

Interesting subject. I have an elderly parent whose portfolio is overly complex who is suffering from analysis paralysis and fear of making a mistake. I would like to simplify my own portfolio before I get to that stage. There will be tax implications to consider however. An annual fee of 0.75% woul...
by SpideyIndexer
Sun Aug 27, 2017 12:31 am
Forum: Investing - Help with Personal Investments
Topic: Schwab advice: 1 yr expenses cash + 2-4 yr ST bond
Replies: 7
Views: 1095

Re: Schwab advice: 1 yr expenses cash + 2-4 yr ST bond

I would say the cash recommendation is conservative but some on here hold that much. The bonds don't seem that crazy if you consider them as part of your bond allocation and assuming someone near retirement with 20-30X expenses in the portfolio. That would mean 7-10% in ST bonds. Are they saying yo...
by SpideyIndexer
Sat Aug 26, 2017 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: Schwab advice: 1 yr expenses cash + 2-4 yr ST bond
Replies: 7
Views: 1095

Re: Schwab advice: 1 yr expenses cash + 2-4 yr ST bond

I just stumbled upon a thread on optimizing bond duration. The OP suggested tilting towards long duration. There is some logic to this in that a mixed portfolio of Small Value + Long Term Treasuries has historically given the best return vs risk performance. On the thread, Robert posted this interes...
by SpideyIndexer
Sat Aug 26, 2017 2:07 pm
Forum: Investing - Help with Personal Investments
Topic: Schwab advice: 1 yr expenses cash + 2-4 yr ST bond
Replies: 7
Views: 1095

Schwab advice: 1 yr expenses cash + 2-4 yr ST bond

Here is a paste from the August 2017 edition of Schwab's On Investing magazine. The context is to avoid having to sell assets in a downturn when in retirement. Adjust your allocation: Consider moving a portion of your assets into investments that can help weather market disruptions. We suggest that ...
by SpideyIndexer
Wed Aug 09, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Best current CD Rates?
Replies: 12
Views: 4050

Re: Best current CD Rates?

While Advancial's New Account Funding Authorization form includes Visa credit cards as a option, I was told by a rep that they no longer will fund an account from a Visa card.

Too bad.
by SpideyIndexer
Wed Aug 09, 2017 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Best current CD Rates?
Replies: 12
Views: 4050

Re: Best current CD Rates?

Seems that Advancial will allow you to transfer balance from a credit card. This can be a good deal if the credit card gives you cash back. Has anyone done this and can confirm that the transaction was a charge and not a cash advance? On a related note, on some cash back cards you cannot set your ca...
by SpideyIndexer
Sat Jul 15, 2017 2:39 am
Forum: Investing - Help with Personal Investments
Topic: SEP contribution for previous year confusion
Replies: 11
Views: 733

Re: SEP contribution for previous year confusion

Apparently a nominee 1099 is sometimes used to assign estate income to beneficiaries. But in this case I am trying to assign executor income to the estate. So far I am batting zero on this.
by SpideyIndexer
Sat Jul 15, 2017 2:28 am
Forum: Investing - Help with Personal Investments
Topic: SEP contribution for previous year confusion
Replies: 11
Views: 733

Re: SEP contribution for previous year confusion

Somewhere I found an old thread suggesting that the executor issue a 1099K to the estate. It seems nutty . Could such a 1099 be an adjustment to the executor's income? I very much hope that the third party will correct the two EINs! I'm sure this sort of thing happens often but it is difficult to fi...
by SpideyIndexer
Sat Jul 15, 2017 2:19 am
Forum: Investing - Help with Personal Investments
Topic: SEP contribution for previous year confusion
Replies: 11
Views: 733

Re: SEP contribution for previous year confusion

I don't know if the nomination process, something I just learned about, makes sense here. There are only two 1099K forms where estate income was incorrectly assigned to the executor's personal SSN. I did find the IRS document "Correcting Business Information Where a Nominee Was Used." It says to use...
by SpideyIndexer
Thu Jul 13, 2017 1:50 am
Forum: Investing - Help with Personal Investments
Topic: SEP contribution for previous year confusion
Replies: 11
Views: 733

Re: SEP contribution for previous year confusion

Alan, there was a totally unrelated mixup related to a incorrect 1099K for a decedent's estate. Because the estate EIN was not on the 1099, it would appear to the IRS that personal income was unreported, which of course would increase my tax liability if true. I am having a corrected 1099 issued in ...
by SpideyIndexer
Wed Jul 12, 2017 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: SEP contribution for previous year confusion
Replies: 11
Views: 733

Re: SEP contribution for previous year confusion

So the IRS just made a bad assumption in thinking I did not report the contribution made in 2015?

FYI, there was another item in the CP2000 which may have been the trigger to send it.
by SpideyIndexer
Wed Jul 12, 2017 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: Utah 529 Best Investment Option
Replies: 7
Views: 940

Re: Utah 529 Best Investment Option

I also went with a custom aged-based plan. In general, I don't think the standard aged-based options in any 529 make that much sense. One thing that sorta surprised me about this plan is that it does NOT keep your holdings in a constant percentage as a LifeStrategy plan or balanced fund would. Rathe...
by SpideyIndexer
Wed Jul 12, 2017 2:53 pm
Forum: Investing - Help with Personal Investments
Topic: SEP contribution for previous year confusion
Replies: 11
Views: 733

Re: SEP contribution for previous year confusion

I found a similar thread in the Personal Finance (Not Investing) forum from a few years ago. I think I just need to tell the IRS that the contribution was made FOR 2014. Vanguard does not need to report to the IRA for what year the contribution was made. Agree? The Vanguard rep did not make this ver...
by SpideyIndexer
Wed Jul 12, 2017 2:45 pm
Forum: Investing - Help with Personal Investments
Topic: SEP contribution for previous year confusion
Replies: 11
Views: 733

SEP contribution for previous year confusion

I made a SEP contribution for 2014 in 2015. It (correctly?) appeared as a 2014 contribution in my Vanguard account statement. However, when issuing the form 5498, Vanguard reported it as a 2015 contribution, which disagrees with their account statement. They tell me that had to do it because I had m...
by SpideyIndexer
Tue Jul 11, 2017 4:55 pm
Forum: Investing - Help with Personal Investments
Topic: Exchange 80+ stocks with capital gains for funds?
Replies: 25
Views: 2360

Re: Exchange 80+ stocks with capital gains for funds?

Interested in Goal33's comments. I have an elderly parent with lots of highly appreciated stock. It seems make no sense to sell now, besides which the parent, while listening to my advice, tends to be afraid to take any action. Anyway to answer the original post, IF you are well diversified, I proba...
by SpideyIndexer
Tue Jul 11, 2017 3:07 pm
Forum: Investing - Help with Personal Investments
Topic: FSITX vs FIBIX for bonds? [Spartan Inter. Term Treasury vs. US Bond]
Replies: 15
Views: 1717

Re: FSITX vs FIBIX for bonds? [Spartan Inter. Term Treasury vs. US Bond]

There is no answer that can be proven correct. Treasuries indeed perform better than "total" bond market when the market crashes. You pay for this with lower yield. There is no way to predict which fund when used within a balanced portfolio will provide the higher long term future return. I hedge my...
by SpideyIndexer
Tue Jul 11, 2017 2:49 pm
Forum: Investing - Help with Personal Investments
Topic: CA exempt bond fund: Long term or intermediate?
Replies: 9
Views: 819

Re: CA exempt bond fund: Long term or intermediate?

Your decision should be driven by the time length of your investment. Yours seems to be pretty short "perhaps." Suggestion: put the amount you might need for a renovation into a CD. Maybe even ladder it: For example 50K into Ally 11 month no-fee CDs (two separate CDs) 50K into a 2 yr CD 100K into a ...