Search found 266 matches

by NightFall
Wed May 11, 2016 6:33 am
Forum: Personal Consumer Issues
Topic: WOW fantastic Cars in the Wild
Replies: 91
Views: 15349

Re: WOW fantastic Cars in the Wild

LA is a good place for exotic car watching. I recall one afternoon in a near-budget type chinese food restaurant in west LA at around 3PM, where I was the only patron in the house, a Bugatti Veyron and some other superexotic sports car (not Lambo or Ferrari, even more exclusive than that) pulled up...
by NightFall
Sat Apr 23, 2016 10:35 am
Forum: Personal Finance (Not Investing)
Topic: 1040X supporting documents
Replies: 3
Views: 377

1040X supporting documents

So I neglected to deduct about $150 in parking expenses for business trips for my business when filing my taxes. I use the standard mileage rates, and my tax software didn't tell me I could deduct such parking expenses (I had to read the IRS publications to figure it out). So my question is, when ma...
by NightFall
Wed Apr 20, 2016 6:39 am
Forum: Personal Investments
Topic: Where to park money for the medium term?
Replies: 13
Views: 1646

Re: Where to park money for the medium term?

The limit is 10k per SSN. I can buy under the names of my spouse, each of my children and my parents and other family members. Easily buy up to 100k. This sounds a little bit too close to fraud/tax evasion. To keep the discussion on track, looking at depositaccounts.com I see 3 year CDs for at leas...
by NightFall
Fri Mar 25, 2016 10:49 am
Forum: Personal Finance (Not Investing)
Topic: How much am I currently saving?
Replies: 11
Views: 2379

Re: How much am I currently saving?

I would add the amounts. That's how much you're saving. Why wouldn't you add the 401k match? My guess is you're trying to compute your savings as a percentage of your income rather than an absolute amount. Savings as a percentage of income isn't a great metric. Some (like MMM) have argued for saving...
by NightFall
Thu Mar 24, 2016 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Ending the college admissions arms race
Replies: 15
Views: 1490

Re: Ending the college admissions arms race

While you can probably get a job being a self taught computer programmer, the reality is that competition is currently fierce for good jobs. There is also a difference between knowing how to code and being a computer scientist... students can be taught to code in a relatively short amount of time. W...
by NightFall
Tue Mar 08, 2016 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Is a CS PhD financial suicide for my profile?
Replies: 57
Views: 8871

Re: Is a CS PhD financial suicide for my profile?

A PhD is something that is very difficult to do part time. Most grad students end up working 50-60 hours a week. The average length of a computer science PhD is 5-6 years at top schools. If you have a masters, you might be able to reduce that by a year... might. Getting a PhD isn't really about the ...
by NightFall
Tue Mar 08, 2016 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Sep Ira question- employer and individual contrib.
Replies: 2
Views: 310

Re: Sep Ira question- employer and individual contrib.

The limit you're talking about is the 415c limit, which is 53K currently. The 5.5K individual amount is just your normal IRA contribution amount. The individual contribution is subject to income limitations just like a normal IRA contribution... because it is a normal IRA contribution. While the 415...
by NightFall
Sat Mar 05, 2016 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Plan options for the self-employed
Replies: 4
Views: 577

Re: Retirement Plan options for the self-employed

I would think a solo 401K would be the better choice. With either that or the SEP IRA, he could easily hit the 415c limit. But a solo 401K would enable backdoor roth contributions. If RMDs are a problem, he could convert to roth before hand. Alternatively I think current tax law allows you to donate...
by NightFall
Tue Mar 01, 2016 1:43 pm
Forum: Personal Investments
Topic: SEP IRA eligible?
Replies: 5
Views: 624

Re: SEP IRA eligible?

Typically you can contribute (as an employer) to a SEP IRA if you are self employed with income on a 1099 in addition to the other accounts.
by NightFall
Sun Feb 28, 2016 8:18 am
Forum: Personal Finance (Not Investing)
Topic: Saving for retirement for the self-employed
Replies: 8
Views: 1180

Re: Saving for retirement for the self-employed

I believe that you can contribute roughly 20% of your profits to the SEP as an employer up to the 415c limit of $53000. You could also make a $6500 contribution to an IRA, but whether or not that is deductible depends on income. You might be better off with a solo 401K, depending on your income, as ...
by NightFall
Fri Feb 26, 2016 11:40 pm
Forum: Investing - Theory, News & General
Topic: The Vanishing DIY Annuity
Replies: 11
Views: 2943

Re: The Vanishing DIY Annuity

Let start = 1000000 rate = 1.025 inflation = 1.02 withdraw = 52000 y = year The amount left after year "y" is given by start*(rate)^y - ( (rate)^(y+1) - (inflation)^(y+1) ) / ( rate - inflation) withdraw If you solve for "y" when the above equation is zero, then you get the number of years your mone...
by NightFall
Thu Feb 25, 2016 3:24 pm
Forum: Personal Investments
Topic: 403B, 457, & Sep-IRA contributions
Replies: 3
Views: 415

Re: 403B, 457, & Sep-IRA contributions

As someone with all of those accounts, the answer is yes. There are limits on voluntary contributions, and you have to make sure you don't violate any 415c limits. A 403B, unfortunately, has an aggregation rule with respect to the 415c limit and your SEP-IRA. That's really only an issue if you're ge...
by NightFall
Fri Jan 29, 2016 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Hi every one i have a question about the finance
Replies: 19
Views: 2561

Re: Hi every one i have a question about the finance

You misunderstand the purpose of this website. The website does not exist to help you with your finance homework. Your question comes directly from the textbook "Matching Supply with Demand: An Introduction to Operations Management 3rd Edition" Chapter 2. http://www.chegg.com/homework-help/major-us-...
by NightFall
Thu Jan 28, 2016 11:21 am
Forum: Personal Consumer Issues
Topic: Most efficient way to improve my writing ability?
Replies: 56
Views: 4665

Re: Most efficient way to improve my writing ability?

For academic writing, it is generally considered advantageous to demonstrate a mastery of the jargon of one's chosen field, taking particular care to use words that mean something entirely different outside the field; to employ long, passive, compound, complex sentences; to repeat oneself to make t...
by NightFall
Thu Jan 28, 2016 10:07 am
Forum: Personal Consumer Issues
Topic: Most efficient way to improve my writing ability?
Replies: 56
Views: 4665

Re: Most efficient way to improve my writing ability?

It depends on what type of writing you're talking about. If it's technical writing... like academic papers and such, it is a skill almost everyone must learn. Moreover, what constitutes good technical writing and the conventions you should use varies by field. Technical writing is also a skill that ...
by NightFall
Tue Jan 12, 2016 7:44 am
Forum: Personal Consumer Issues
Topic: Are Online/Distance Graduate Degrees Respected?
Replies: 28
Views: 8964

Re: Are Online/Distance Graduate Degrees Respected?

I know of several schools that have online MS programs targeting exactly this situation. For example, Petroleum Engineers may be stationed far from a university or civilization even. I know of a university that has a very successful online MS program targeting exactly this population. Technically th...
by NightFall
Thu Jan 07, 2016 2:16 pm
Forum: Personal Investments
Topic: How Am I Doing? 18 Years of Data
Replies: 47
Views: 6996

Re: How Am I Doing? 18 Years of Data

Goodman60 wrote:Average annual: 6.36%
You used an arithmetic average. A geometric average is probably more appropriate when talking about rate of return over time. If you did that, your return would be 5.88%.
by NightFall
Thu Jan 07, 2016 9:56 am
Forum: Personal Consumer Issues
Topic: Rotating a Photo degrades it?
Replies: 35
Views: 3648

Re: Rotating a Photo degrades it?

TIFF is a container for different types of formats. Uncompressed data may be stored in a TIFF file. However, a difference between 18MB and 10MB is due to compression. TIFF files may use different types of compression. Lossless compression would reduce the size of the file without affecting the image...
by NightFall
Mon Dec 14, 2015 7:47 am
Forum: Personal Investments
Topic: Self-employed SEP IRA + Employer 401(k)?
Replies: 11
Views: 1353

Re: Self-employed SEP IRA + Employer 401(k)?

I'm not sure I agree with your understanding of desiderium. My understanding is that there is no joint 401k limit other than the 18K, which is not per employer but per employee as stated by Spirit Rider. The SEP IRA only allows for employer contributions... not employee contributions. So if you have...
by NightFall
Thu Dec 10, 2015 3:52 pm
Forum: Personal Investments
Topic: need help to check my understanding of tax rates
Replies: 5
Views: 1025

Re: need help to check my understanding of tax rates

Hi, 2015 income-(rounded)earned + dividends and interest=35,000 standard deduction = 6,300 adj. income =35,000 -6300 =28,700 income allowed to =15% tax bracket and 0% capital for 2015=37,450 therefore she should be able to earn aprox $8750 in capital gains and remain in the 15%/0% bracket(federal) ...
by NightFall
Thu Dec 10, 2015 10:30 am
Forum: Investing - Theory, News & General
Topic: Navy Federal CU Special Certificate Offering
Replies: 59
Views: 11904

Re: Navy Federal CU Special Certificate Offering

I have not seen any mention of NFCU's special certificate offering here yet so I will mention it. It is a special 30-month certificate with a 2.5% APY. Requires a $5,000 minimum deposit with no maximum balance. No indication on their website as to how long the offer will last. My understanding is t...
by NightFall
Wed Dec 09, 2015 5:54 pm
Forum: Investing - Theory, News & General
Topic: The Real Value of Paying Off a Mortgage Early
Replies: 56
Views: 9294

Re: The Real Value of Paying Off a Mortgage Early

alex_686 wrote:The big advantage is leverage. Directing savings towards more profitable - and risker - investments. I mean, what could go wrong? Besides the 80's farm crisis, 86 Black Friday, 2001 Dot.com crash, and 008 real estate crisis?
Thanks for making me laugh today. :D
by NightFall
Wed Dec 09, 2015 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Confirm how 0% cap gains bracket works
Replies: 20
Views: 2593

Re: Confirm how 0% cap gains bracket works

Don't forget the Personal exemption ($4K for 2015) which reduces taxable income. That's what I was thinking too... as long as no one else claims her as a dependent on their tax return. Interestingly, she is at a place in the tax code where the marginal rate can be much higher than the tax bracket. ...
by NightFall
Wed Dec 09, 2015 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Confirm how 0% cap gains bracket works
Replies: 20
Views: 2593

Re: Confirm how 0% cap gains bracket works

Don't forget the Personal exemption ($4K for 2015) which reduces taxable income. That's what I was thinking too... as long as no one else claims her as a dependent on their tax return. Interestingly, she is at a place in the tax code where the marginal rate can be much higher than the tax bracket. ...
by NightFall
Tue Dec 01, 2015 10:45 am
Forum: Investing - Theory, News & General
Topic: Colorado 529 Stable Value 2016 rate is 2.54%
Replies: 4
Views: 969

Re: Colorado 529 Stable Value 2016 rate is 2.54%

YttriumNitrate wrote: Colorado College is not a state school, but my main point was that if you put 100 days worth of tuition into the Colorado Stable Value fund it will be worth 90-something days of tuition next year.
That is a good point. I don't have a defense for private schools though.
by NightFall
Tue Dec 01, 2015 9:31 am
Forum: Investing - Theory, News & General
Topic: Colorado 529 Stable Value 2016 rate is 2.54%
Replies: 4
Views: 969

Re: Colorado 529 Stable Value 2016 rate is 2.54%

From the website: The current annual rate of return for calendar year 2015 is 3.09% net of all fees. The annual rate of return for calendar year 2016 is 2.54% net of all fees. I think those are all state schools. How much did the state appropriations for those schools change at the same time? It's ...
by NightFall
Fri Nov 20, 2015 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much is tax advantage space worth?
Replies: 42
Views: 5626

Re: How much is tax advantage space worth?

Although perhaps that's your point since you appear to be focused on this aspect? Tax advantaged accounts are mostly advantaged to the extent that you move money from a high tax bracket to a lower tax bracket. Focus is on what tax rates to use for comparison. Telling people to use marginal rate at ...
by NightFall
Fri Nov 20, 2015 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much is tax advantage space worth?
Replies: 42
Views: 5626

Re: How much is tax advantage space worth?

Unless the withdrawal is your only taxable income, there is likely a big difference between "my total tax rate" vs. "the total tax rate of the withdrawal", correct? Yes, that's why it was the example and not the definition. At lower levels of income, you pass brackets at a much faster rate than at ...
by NightFall
Fri Nov 20, 2015 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: How much is tax advantage space worth?
Replies: 42
Views: 5626

Re: How much is tax advantage space worth?

For example, contributions made and the end of the year and then pulled out the next year with a tax rate different than the marginal rate. If by that you mean "...next year with a [marginal] tax rate different than the marginal rate [for this year]" then we are in agreement. Yes, although if we wa...
by NightFall
Fri Nov 20, 2015 7:38 am
Forum: Personal Finance (Not Investing)
Topic: How much is tax advantage space worth?
Replies: 42
Views: 5626

Re: How much is tax advantage space worth?

...you get an immediate benefit of (1-T)/(1-M) when n=0 regardless of the rate of return. When n=0, T must equal M so the ratio = 1. Technically true although you can create a jump discontinuity in T for arbitrarily small values of n, so my statement is still true (and is true under your assumption...
by NightFall
Fri Nov 20, 2015 4:03 am
Forum: Personal Finance (Not Investing)
Topic: How much is tax advantage space worth?
Replies: 42
Views: 5626

Re: How much is tax advantage space worth?

You can model this situation with an equation. Let r=rate of return T=total tax rate in retirement M=marginal tax rate while contributing d=LTCG tax rate The benefit of such a space is then ((1-T)(1+r)^n) / (((1-M)(1+r)^n-(1-M))(1-d) + d (1-M)) I think you have a typo: ((1-T)(1+r)^n) / (((1-M)(1+r)...
by NightFall
Thu Nov 19, 2015 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: How much is tax advantage space worth?
Replies: 42
Views: 5626

Re: How much is tax advantage space worth?

You can model this situation with an equation. Let r=rate of return T=total tax rate in retirement M=marginal tax rate while contributing d=LTCG tax rate The benefit of such a space is then ((1-T)(1+r)^n) / (((1-M)(1+r)^n-(1-M))(1-d) +d(1-M)) The limit as n approaches infinity is (1-T)/((1-d)(1-M)),...
by NightFall
Fri Nov 13, 2015 7:31 am
Forum: Personal Investments
Topic: Saver's Tax Credit
Replies: 7
Views: 1123

Re: Saver's Tax Credit

Just to clarify, you need earned income to contribute to a retirement account. Social security is not earned income. If you were looking at the website to determine their earnings history, then that's a start. Unearned income isn't included in that number but (usually) is in agi.
by NightFall
Sat Nov 07, 2015 1:36 pm
Forum: Personal Investments
Topic: Question about the max "$53K" yearly retirement contribution
Replies: 6
Views: 1312

Re: Question about the max "$53K" yearly retirement contribution

Thanks Bolder. The last point I also asked at the White Coat Investor and it was said that the overall 401(k) + 403(b) max amount is 53K per year as the are in the "same pool" so to speak, but the 457(b) plan is on top of that total. My max 457(b) per plan documents is 18K, so my potential total re...
by NightFall
Fri Nov 06, 2015 9:05 am
Forum: Personal Consumer Issues
Topic: What to do with foreign currency notes and coins?
Replies: 20
Views: 2760

Re: What to do with foreign currency notes and coins?

Some banks will allow you to exchange bills into USD for not insanely bad rates. The restriction is usually that the notes are the most recent version from that country. So your notes may be legal tender in the home country, but banks here may not take them if they're too old. I haven't found a bank...
by NightFall
Sat Oct 31, 2015 6:02 pm
Forum: Personal Investments
Topic: Question about 415c limits and contributions
Replies: 3
Views: 694

Re: Question about 415c limits and contributions

No, the 415c limit includes your voluntary contributions as well. Your 457b is not subject to the 415c limit. So your max is 53k for the 403b plus 18k for the 457b. 403b's are also subject to special aggregation rules if you have any other employer retirement accounts like another 403b, 401k, or sep...
by NightFall
Thu Oct 22, 2015 2:47 pm
Forum: Personal Consumer Issues
Topic: Password Management
Replies: 75
Views: 8335

Re: Password Management

Keep a plain text file of usernames and passwords but encrypt it with truecrypt. The computing resources necessary to break that encryption are immense. Far stronger than your passwords. WARNING: Using TrueCrypt is not secure as it may contain unfixed security issues http://truecrypt.sourceforge.ne...
by NightFall
Thu Oct 22, 2015 9:09 am
Forum: Personal Investments
Topic: Looking for assistance with a new retirement strategy
Replies: 6
Views: 740

Re: Looking for assistance with a new retirement strategy

What I meant by paying tax twice was I would be contributing post tax to a TIRA (taxed once) then will be taxed when I withdraw (taxed twice) Don't do this. You are eligible for a Roth IRA, which is much better than a non-deductible ira contribution (earning are not taxed). Whether you want to put ...
by NightFall
Tue Oct 20, 2015 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: What are your 2 retirement numbers?
Replies: 260
Views: 38624

Re: What are your 2 retirement numbers?

Assuming all numbers are in 2015 dollars, I only have one number $4 million. I'm a long way off... So maybe I'll never retire. The only scenario I would leave earlier would be health related in which case it wouldn't be voluntary.
by NightFall
Thu Oct 08, 2015 7:33 pm
Forum: Personal Investments
Topic: Can I have 403b and solo 401k? Employee and self employed situation
Replies: 16
Views: 2911

Re: Can I have 403b and solo 401k? Employee and self employed situation

Duckie is right. You should file a schedule SE as a self employed individual. That enables you to open a solo 401k. You have an $18k employee limit that you can contribute in some combination to the solo 401k and the 403b. In addition you have a separate $18k limit for the 457b. In addition, you can...
by NightFall
Thu Oct 01, 2015 4:26 am
Forum: Personal Investments
Topic: Tax planning for new work as independent contractor
Replies: 13
Views: 1118

Re: Tax planning for new work as independent contractor

That's an okay rough estimate. You ask about what retirement account would be appropriate. I don't think a Simple IRA is right. You could choose between a solo 401k or a SEP IRA. Solo 401K Advantages: Not used in IRA aggregation rules so a backdoor roth ira is possible in the future... although you'...
by NightFall
Wed Sep 30, 2015 12:44 pm
Forum: Personal Investments
Topic: Tax planning for new work as independent contractor
Replies: 13
Views: 1118

Re: Tax planning for new work as independent contractor

Yes. I am taking state tax into account. In Oregon my state tax rate last year was 9%. I think that is why the blogger suggested adding $1000 of fake income to last years tax return in TurboTax because it takes your entire specific tax situation into account when determining if what tax you would p...
by NightFall
Wed Sep 30, 2015 12:37 pm
Forum: Personal Investments
Topic: Tax planning for new work as independent contractor
Replies: 13
Views: 1118

Re: Tax planning for new work as independent contractor

As per the http://www.irs.gov/Retirement-Plans/Are-You-Covered-by-an-Employer's-Retirement-Plan%3F it says You’re covered by an employer retirement plan for a tax year if your employer (or your spouse’s employer) has a:Defined contribution plan (profit-sharing, 401(k), stock bonus and money purchas...
by NightFall
Wed Sep 30, 2015 10:20 am
Forum: Personal Investments
Topic: Tax planning for new work as independent contractor
Replies: 13
Views: 1118

Re: Tax planning for new work as independent contractor

Your method of determining your marginal rate is good, but the results are questionable... unless you're not stating your whole situation. Taxcaster is also a simple tool for estimating your marginal rate. Just a back of the envelope calculation... 168K - 12.6K standard deduction - 4K * 4 (personal ...
by NightFall
Wed Sep 30, 2015 3:51 am
Forum: Personal Investments
Topic: Tax planning for new work as independent contractor
Replies: 13
Views: 1118

Re: Tax planning for new work as independent contractor

You didn't list your wife's income. 168K isn't anywhere close to a marginal tax bracket of 35.9%. In addition to your regular federal tax, you will have to pay a self employment tax of 2.9% since you have exceeded the SS limit. Half of that tax is deductible, so it's really a bit less than that. Whi...
by NightFall
Tue Sep 22, 2015 1:08 pm
Forum: Personal Investments
Topic: Roth 401(k) or traditional? Young/high income
Replies: 5
Views: 1060

Re: Roth 401(k) or traditional? Young/high income

529: I am saving up for a 529 in case I get married/have a kid or decide to go back to graduate school (it's not much). From my understanding, you can withdraw the principal tax/penalty free (CA doesn't allow for tax deduction so no claw back?). You can withdraw the principle tax/penalty free, but ...
by NightFall
Tue Sep 22, 2015 10:40 am
Forum: Personal Investments
Topic: I'd like to start investing early - maybe too early?
Replies: 17
Views: 1654

Re: I'd like to start investing early - maybe too early?

A quick correction for NightFall... The other disadvantage is that you can't touch the earnings on a roth ira until retirement, which is a long way off. Contributions can be taken out (not usually a good idea) after 5 years though. Roth contributions can be taken out anytime... as in, the day after...
by NightFall
Tue Sep 22, 2015 6:56 am
Forum: Personal Investments
Topic: I'd like to start investing early - maybe too early?
Replies: 17
Views: 1654

Re: I'd like to start investing early - maybe too early?

I'd slow down on the backdoor contribution stuff. Your income must be much higher than $0 for it to apply. It will likely be some time before the income limitations are an issue for you, and tax laws can always change during that period. As another poster stated, you need earned income to contribute...
by NightFall
Tue Sep 22, 2015 6:42 am
Forum: Personal Investments
Topic: Roth 401(k) or traditional? Young/high income
Replies: 5
Views: 1060

Re: Roth 401(k) or traditional? Young/high income

The decision to roth or not typically comes down to your current marginal rate versus what you expect it to be in the future. If your future marginal rate is greater than or equal to your current marginal rate, then roth is a great idea. You provide little details on your pension but, assuming your ...
by NightFall
Thu Sep 10, 2015 2:59 pm
Forum: Personal Consumer Issues
Topic: I am running out of excuses to not move out
Replies: 71
Views: 10188

Re: I am running out of excuses to not move out

You don't say how much you're making, so it's hard to say what type of financial burden it's placing on you to move out. For example, if you make $15K/year, then $12K in rental costs is probably not a good idea. I would guess that you're ready to leave. I'll tell you my situation was that I made $24...