Search found 1836 matches

by BruceM
Fri Nov 09, 2018 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 177
Views: 23813

Re: IRS publishes draft 2018 1040 - Huge changes made

There will also be an updated 1099-DIV that adds box 5 to identify QBI from REITs. https://www.irs.gov/pub/irs-pdf/f1099div.pdf However, not sure how K-1s from MLPs will be handled. An eye-ball scan of the 2017 and 2018 1065s don't seem to show any difference....so unless there is a change, I'd imag...
by BruceM
Tue Oct 16, 2018 10:31 am
Forum: Investing - Theory, News & General
Topic: The Section 199A Tax Benefits Of REITs Over Direct Real Estate Investments at Kitces.com by Jeffrey Levine
Replies: 8
Views: 1118

Re: The Section 199A Tax Benefits Of REITs Over Direct Real Estate Investments at Kitces.com by Jeffrey Levine

Have you ever had to file amended tax returns because of mis-reporting by the reits before? I haven't, but for many, yes, that used to be quite common many years ago. My brokerage (Fidelity) would send out the 1099-DIV summary in late February, and then send out one, two or even three amended 1099-...
by BruceM
Mon Oct 15, 2018 10:57 am
Forum: Investing - Theory, News & General
Topic: The Section 199A Tax Benefits Of REITs Over Direct Real Estate Investments at Kitces.com by Jeffrey Levine
Replies: 8
Views: 1118

Re: The Section 199A Tax Benefits Of REITs Over Direct Real Estate Investments at Kitces.com by Jeffrey Levine

Since the late 90's I created my own REIT mutual fund, currently holding 21 Equity REITs, including preferred stock, in a taxable account. This provides a large part of our required household income. Needless to say, Sec. 199A will be a windfall to those who do what I do. But the challenge here is t...
by BruceM
Mon Oct 15, 2018 10:24 am
Forum: Investing - Theory, News & General
Topic: Income/Dividend-paying investment in taxable?
Replies: 3
Views: 664

Re: Income/Dividend-paying investment in taxable?

I decided to add some income/dividend investment to my accounts. I have brokerage and IRA accounts in Fidelity. I was thinking DGRO in taxable. Is this the right choice? or should I hold dividend-paying investments in IRA. If so there are other choices to consider for IRA not just DGRO but FAGIX,ML...
by BruceM
Sat Sep 08, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Could One Work For Edward Jones and Put Clients in Boglehead Portfolios?
Replies: 34
Views: 4372

Re: Could One Work For Edward Jones and Put Clients in Boglehead Portfolios?

As a F/U to my post above. As I mentioned, I've been retired from the industry for several years and my comment is based on my experience. But for fun...and I probably should have done this first before responding above...I went to the EJ web site and linked to two local EJ offices and browsed their...
by BruceM
Fri Sep 07, 2018 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Could One Work For Edward Jones and Put Clients in Boglehead Portfolios?
Replies: 34
Views: 4372

Re: Could One Work For Edward Jones and Put Clients in Boglehead Portfolios?

The last 20 years or so I have wanted to be a financial advisor. I am, however, a committed Boglehead and understand the sheer difficulty in running an advisor business that adheres to Boglehead principles. Could a person work for Edward Jones/Massmutual/et al. and put their clients in index funds/...
by BruceM
Fri Sep 07, 2018 11:48 am
Forum: Investing - Theory, News & General
Topic: Dividend variances per quarter
Replies: 6
Views: 933

Re: Dividend variances per quarter

US companies typically pay dividends quarterly, but a mutual fund (open end, closed end or ETF) may pass through dividends monthly, quarterly, semiannually or annually. They may have a policy of passing them through as they receive them or holding them to a later date. Another variable is the paying...
by BruceM
Fri Aug 03, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: IRMAA and MAGI Definition Confusion
Replies: 7
Views: 1018

Re: IRMAA and MAGI Definition Confusion

Yes....a Roth conversion made in 2016 if recharacterized, must be done by Oct 15 of 2017. A Roth conversion made in 2017 has until Oct 15, 2018 to be recharacterized. Roth conversions done in 2018 through 2025 may not be recharacterized.

BruceM
by BruceM
Thu Aug 02, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA and MAGI Definition Confusion
Replies: 7
Views: 1018

Re: IRMAA and MAGI Definition Confusion

The table on page 2 of the Congressional Research Service will probably answer your question on how to calculate the right MAGI

https://fas.org/sgp/crs/misc/R43861.pdf

BruceM
by BruceM
Wed Jul 04, 2018 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 177
Views: 23813

Re: IRS publishes draft 2018 1040 - Huge changes made

Section 199A(b)(1) defines "Combined Qualified Business Income" as consisting of qualified business income plus "20 percent of the aggregate amount of the qualified REIT dividends and qualified publicly traded partnership income of the taxpayer for the taxable year". Qualified REIT dividends are di...
by BruceM
Sun Jul 01, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 177
Views: 23813

Re: IRS publishes draft 2018 1040 - Huge changes made

Bruce, The 20% deduction will apply to "qualified business income". REIT dividends and income from publicly traded partnerships (MLPs) are excluded from the definition of qualified business income. IRC Sec 199A(c)(1) Bruce, Another provision of Sec 199A may provide more clarity. 199A defines "quali...
by BruceM
Fri Jun 29, 2018 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 177
Views: 23813

Re: IRS publishes draft 2018 1040 - Huge changes made

One new adjustment on page 2 of the 1040 is line 9 for “qualified business income deductions (see instructions)” which I assume is for the 20% small business deduction under Section 199A. The following is all I could find on line 9, from the WSJ https://www.wsj.com/articles/the-new-1040-tax-form-it...
by BruceM
Fri Jun 29, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: IRS publishes draft 2018 1040 - Huge changes made
Replies: 177
Views: 23813

Re: IRS publishes draft 2018 1040 - Huge changes made

One new adjustment on page 2 of the 1040 is line 9 for “qualified business income deductions (see instructions)” which I assume is for the 20% small business deduction under Section 199A. The following is all I could find on line 9, from the WSJ https://www.wsj.com/articles/the-new-1040-tax-form-it...
by BruceM
Sat Jun 09, 2018 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Home Insurance : H03 Vs H05 policy types
Replies: 27
Views: 7172

Re: Home Insurance : H03 Vs H05 policy types

Wow....didn't even remember this posting..... :happy Yes, your analysis is correct. The HO-5 should be any peril except exclusions, which you need to be aware of. You don't mention where you live, but I understand excluding of cosmetic damage of hail in the SE U.S. is now excluded on most HO forms a...
by BruceM
Thu May 31, 2018 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Beach condo vs mountain cabin investment property
Replies: 30
Views: 2809

Re: Beach condo vs mountain cabin investment property

We hold both. Developable land offering seclusion and privacy near a large body of water or tall mountains will almost certainly grow in value over the decades ahead. Do you want this for long term investment or future development purposes?

BruceM
by BruceM
Mon May 07, 2018 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Want an HSA but have Tricare Prime
Replies: 8
Views: 1142

Re: Want an HSA but have Tricare Prime

We retired USAF in 1998 and have been on TriCare Prime and TriCare Select (formerly TriCare Extra/Standard) up until age 65 when we got coverage from Medicare. Here's our experience.... If you live in an area covered by TriCare Prime (many geographic areas of the US do not offer Prime), then your An...
by BruceM
Mon May 07, 2018 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4819

Re: How much should I save or would be available for health care in retirement?

Early in January on a routine dental visit (usually in January and July) my Kaiser dentist spotted a cracked molar for which there were not yet any symptoms. She x-ray'd it again and dug around and said she thought a crown would likely take ok as it seemed the crack was not yet to the base of the to...
by BruceM
Mon May 07, 2018 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 19426

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Thanks....I hope it helps. The hard part for an accumulator who has spent a lifetime investing for total return where share price is the center of every measure, whether managed or passive, and who wishes to transition to an income only method of generating long term reliable income, is letting go ...
by BruceM
Mon May 07, 2018 9:47 am
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 19426

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Thanks....I hope it helps. The hard part for an accumulator who has spent a lifetime investing for total return where share price is the center of every measure, whether managed or passive, and who wishes to transition to an income only method of generating long term reliable income, is letting go o...
by BruceM
Sun May 06, 2018 3:45 pm
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 19426

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

In September 2017, I started a combined dividend portfolio following the My 7.5% Income Portfolio ( https://seekingalpha.com/article/4098771-7_5-percent-income-portfolio ) and then adding some additional CEFS stocks, (1) Market Fund & ETF's. So far, I have seen the portfolio value fluctuate within ...
by BruceM
Sun May 06, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4819

Re: How much should I save or would be available for health care in retirement?

Regular dental insurance is rarely very beneficial. Most plans have a maximum payout of $1500-2000. I sign up for the basic plan at work because there is no premium but the plans with premiums don't cover much more than the basic and the return on premium is quite bad. "Dental Insurance" really has...
by BruceM
Fri May 04, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4819

Re: How much should I save or would be available for health care in retirement?

I understand that Medicare has premiums and right now don't have a lot of health issues. I assume I can rely on Medicare, but probably not. Maybe that's where an HSA is advantageous, but since I have no health issues, not sure what extra costs would be. What are your thoughts or your experience her...
by BruceM
Mon Apr 30, 2018 3:29 pm
Forum: Investing - Help with Personal Investments
Topic: Is it worth it to dissolve this inherited annuity?
Replies: 33
Views: 2771

Re: Is it worth it to dissolve this inherited annuity?

Hi Steve You are paying considerably more than the 125bp M&E expense they're showing you. You're right, its almost impossible to try to discern how much you're actually paying in fees and expenses on such products....and it is not this way by accident. A way to approximate all fees is to kind of bac...
by BruceM
Mon Apr 16, 2018 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: Minimizing taxes for 2018
Replies: 12
Views: 1774

Re: Minimizing taxes for 2018

Hi Kathys Assuming 1. you are using Form 1040 2. your only Above-The-Line deductions are the IRA contributions 3. the total income you are showing is represents all of your ordinary income (wages, net self employment, interest, non-qualified dividends) 4. your itemized deductions are less than $24,0...
by BruceM
Sun Apr 15, 2018 3:43 pm
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 19426

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Would be fun to chat with you and your strategy, but I know it is not typical BH fodder. Yes, it isn't typical BH fodder, but I consider myself of the BH strain. I don't listen to middlemen, I keep expenses lower than any BH investor and I rely only on objective measures I take right off the Statem...
by BruceM
Sat Apr 14, 2018 11:01 am
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 19426

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

It is dangerous to go without healthcare insurance. Quite a lot of people don't think so, but that's politics, so we cannot discuss it. It isn't about politics--the financial risk of a catastrophic illness can easily exceed the entire cost of a total loss on a home. And for someone who likes to rac...
by BruceM
Sat Apr 14, 2018 10:42 am
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 19426

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Hi Cyclingduo Curious about a couple of things if you wouldn't mind addressing. But it requires the discipline to focus on income only, which is much harder than it sounds. What part of it is much harder than it sounds? What is difficult if not impossible for most wanting to adopt a pure income appr...
by BruceM
Fri Apr 13, 2018 10:58 am
Forum: Investing - Help with Personal Investments
Topic: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?
Replies: 93
Views: 19426

Re: How can I Invest 4 million dollars to earn 120k (inflation adjusted) a year for life?

Hi nocisko The answer to your question of how to invest $4MM to generate a REAL $120K for life (REAL = Inflation adjusted), really depends on your overall investment goals. These goals need to speak to the following: 1. Reliability of Income (consistency of income through economic cycles and portfol...
by BruceM
Thu Apr 12, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Form 8606 and Turbotax
Replies: 7
Views: 657

Re: Form 8606 and Turbotax

Yes, then short of doing a 1040X (which you'd have to file manually anyway) or deleting the 2016 TT file and redoing it (ugh!), you're probably going to have to keep the hardcopy of the 8606 for future reference. Fortunately, TT lets you override its record of TIRA basis when you do a withdrawal or ...
by BruceM
Thu Apr 12, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Form 8606 and Turbotax
Replies: 7
Views: 657

Re: Form 8606 and Turbotax

Wrongfunds I would have gone back and finished the 2016 return in TT, entering the TIRA non-deductible contribution and from that, generated the 8606. The TT file you saved for that year would then load the next year as you begin your 2017 return, and so the 8606 info would be carried forward. Just ...
by BruceM
Thu Mar 29, 2018 5:55 pm
Forum: Investing - Theory, News & General
Topic: Fisher Investments hard sell
Replies: 40
Views: 43889

Re: Fisher Investments hard sell

"I wonder how they pay for all that expensive advertising and agents that go to your house......" AUM fees on accounts that require minimal hourly commitment are extremely lucrative. A $1MM IRA, once set up, will require maybe 5 man-hours per year of investment management time with today's technolog...
by BruceM
Fri Aug 28, 2015 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: Dividend investment
Replies: 17
Views: 2410

Re: Dividend investment

However, these are behavioral issues on the investor side of things That, in my view, is exactly correct. For C-Corporations and LLCs filing as corporations where the dividend is elective, the dollars used to pay a dividend as opposed to retaining those dollars and used in company Investing Activit...
by BruceM
Thu Aug 27, 2015 10:57 am
Forum: Investing - Help with Personal Investments
Topic: Dividend investment
Replies: 17
Views: 2410

Re: Dividend investment

I've come across a few blogs that advocate dividend investment. One particular one shows a person making a little over $1800 a month off dividends. What's the consensus on this? I wouldn't mind getting 1800 a month but does it make tax reporting a hassle? We have been living off dividends + Federal...
by BruceM
Sat Feb 14, 2015 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Hancock increasing rates on LTC
Replies: 55
Views: 3995

Re: Hancock increasing rates on LTC

I should have been more clear with this. The premium increase we had was expected and optional. The policy offers a 3% annual inflation adjustment. To get that inflation adjustment you need to pay a higher premium. I am OK with that. That increase was no where near 90%. What I am worried about is o...
by BruceM
Mon Jun 17, 2013 2:06 am
Forum: Investing - Help with Personal Investments
Topic: John Bogel: The Problem with 401(k)s
Replies: 2
Views: 1147

John Bogel: The Problem with 401(k)s

An interview with Christine Benz as a sort of clarification of what he said on the recent Frontline Special

http://www.morningstar.com/cover/videoc ... UTUALFUNDS

BruceM
by BruceM
Fri Jun 14, 2013 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question [Social Security income and fund distributions]
Replies: 6
Views: 883

Re: Tax Question

If a person is 65 years old and has 16k income from Social Security how much can they have in Vanguard Target Retirement 2015 Fund (VTXVX) before they would pay taxes? This is all taxable money. Social Security is there only income. Provisional Income (PI), used to calculate how much of one's SS be...
by BruceM
Fri Jun 14, 2013 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Using SIMPLE IRA for First Time Home Buyer Downpayment
Replies: 23
Views: 3010

Re: Using SIMPLE IRA for First Time Home Buyer Downpayment

MMc7 Because you have had contributions made to the SIMPLE over 2 years ago, you may roll over the balance to any other IRA custodian you wish without tax or penalty....and from your description, the sooner, the better. Yes, the Franklin Growth Fund (FKGRX) has underperformed both the S&P 500 and th...
by BruceM
Tue Jun 11, 2013 2:49 pm
Forum: Investing - Help with Personal Investments
Topic: 457b question
Replies: 20
Views: 1579

Re: 457b question

Twinsfan (is that as in Minnesooootah?) Yes...when you get within 3 years of the plan's full retirement age, you may contribute up to another $17,500 (or whatever the max is for that year), providing you have at least that much in cumulative past year UNDER-contributions. Otherwise, at age 50 and ol...
by BruceM
Tue Jun 11, 2013 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Circling vultures...advisors looking for access to residents
Replies: 109
Views: 11595

Re: Circling vultures...advisors looking for access to resid

Neurosphere What is your principal interest in continuing a dialogue with this unsolicited e-mail? This is a guess, but it sounds like you would like to have your residents educated in the fundamentals of personal finance. But a salesman is not going to provide this. If you are interested in educati...
by BruceM
Tue Jun 11, 2013 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: 457b question
Replies: 20
Views: 1579

Re: 457b question

I just got the email reply from the plan administrator for my 457b. They said $17,500 combined is the max amount that can go into my account (2013 example)... So, $17,500 - 3.5% annual match = the total amount I can contribute. That's right. The Government 457(b)'s maximum contribution from all sou...
by BruceM
Tue Jun 11, 2013 11:25 am
Forum: Investing - Help with Personal Investments
Topic: Investing at retirement
Replies: 16
Views: 2342

Re: Investing at retirement

I like the list. Like jack Benny "I'm thinking I'm thinking " Its all in tax sheltered retirement funds so the Required minimum distribution is also an issue. Professor While you're thinking...... That your investments are all in a tax deferred account(s) that will be subject to RMDs really should ...
by BruceM
Mon Jun 10, 2013 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Investing at retirement
Replies: 16
Views: 2342

Re: Investing at retirement

professor What are your primary objectives for this money? I can kind of infer them, but if you make them clear, this would drive your ultimate investment choices. Examples of investment goals might include: 1. Safety of principal....if you will need these dollars in the future and you do not want t...
by BruceM
Mon Jun 10, 2013 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Need fee based financial planner in Charleston, SC
Replies: 4
Views: 715

Re: Need fee based financial planner in Charleston, SC

My SIL is inheriting a substantial sum of money from his father's estate. My daughter mentioned the idea of getting advice from a financial planner which I completely agree with. Both are quite competent with their finances but this seems to be a good time to get advice. I would greatly appreciate ...
by BruceM
Sun Jun 09, 2013 7:00 pm
Forum: Local Chapters and Bogleheads Community
Topic: Master Thread for Portland, Oregon
Replies: 142
Views: 46889

Re: Portland, Oregon Meeting?

Our next meeting will be Tuesday, June 11 at 6:30 at Lings Garden Restaurant, 915 NW 21st in Portland (21st and Lovejoy)

Hope this catches you on time, and hope to see you there.

BruceM

Edit: woooops...didn't see the response. Sorry for the repeat :-)
by BruceM
Sun Jun 09, 2013 1:04 pm
Forum: Investing - Help with Personal Investments
Topic: Investing in Foreign Bonds
Replies: 14
Views: 2274

Investing in Foreign Bonds

Rick Ferri, Bill Bernstein and other CFAs offer their short-version views on investing in foreign debt.

http://www.oregonlive.com/finance/index ... cart_river

BruceM
by BruceM
Mon May 13, 2013 1:09 pm
Forum: Investing - Theory, News & General
Topic: THANKS, BOGLEHEADS, FROM JACK BOGLE
Replies: 39
Views: 6507

Re: Thanks, Bogleheads, from Mr. Bogle

Jack Try this....Google something like "SEC FINRA fines and penalties Merrill Lynch" and see what comes up. Do the same, except insert American Express or LPL. You'll see page after page after page of press releases of the multi-million dollar fines and penalties assessed by the SEC and FINRA for mi...
by BruceM
Mon May 13, 2013 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity has the best customer service I know of
Replies: 57
Views: 5058

Re: Fidelity has the best customer service I know of

My first foray into brokerage services in 1997 was with American Express, who offered 20 free trades/yr (or something like that), which then the average trading cost for the 'discounters' was about $25 as I recall. So I went with AE. What a disaster. Almost every monthly statement had an error on it...
by BruceM
Fri May 10, 2013 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree poll: Expenses in retirement
Replies: 24
Views: 3789

Re: Retiree poll: Expenses in retirement

I do this all the time for clients....and from this, a couple of points: 1. Many will not realize they are no longer paying FICA tax, cost sharing medical insurance or contributing to their retirement plan, because these expenses came out before they got their paycheck. IOW, although real, they just...
by BruceM
Thu May 02, 2013 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Do the Bogleheads here tithe based on net or gross salary?
Replies: 49
Views: 5447

Re: Do the Bogleheads here tithe based on net or gross salar

Hopefully, we will hear from a spokesperson for the [religion removed --admin LadyGeek], who are the experts for a questions like this.

BruceM