Search found 7916 matches

by tfb
Mon Mar 19, 2018 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Can I Retire at 38?
Replies: 118
Views: 14341

Re: Can I Retire at 38?

Yes you can retire. The only question is what kind of lifestyle you want after you retire. Anybody can retire if they are willing to match their lifestyle to the amount of money that supports it.
by tfb
Mon Mar 19, 2018 10:49 pm
Forum: Investing - Theory, News & General
Topic: Parking Business Cash - WHERE?
Replies: 21
Views: 3107

Re: Parking Business Cash - WHERE?

Look into opening brokerage account (Fidelity/Schwab etc) for business which will increase number of options that you have. What options exactly? Not looking to buy into index funds, stocks or bonds. The primary goal is keeping principal while not eroding to inflation. So very little, if non-exista...
by tfb
Sun Mar 18, 2018 9:47 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Personal Advisory Services Fees
Replies: 49
Views: 5196

Re: Vanguard Personal Advisory Services Fees

Schwab intelligent advisor is not a personal advisor but mostly robo investing with occasional discussion with financial planner. Its service that is similar to Vanguard PAS appears to be more expensive. Am I missing something? Schwab caps the fees at $3,600/year. For a $3 million account, Vanguard...
by tfb
Sun Mar 18, 2018 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Spoke to a financial advisor yesterday - what do you think he's up to?
Replies: 81
Views: 9305

Re: Spoke to a financial advisor yesterday - what do you think he's up to?

The problem with much of the discussion on this thread is that just yelling YOUR GETTING SCAMMED isn't very convincing. I can agree with it or disagree with it but you're not taking the time to engage me. The salesperson is very clever is transferring the burden of convincing to you. All of a sudde...
by tfb
Sun Mar 18, 2018 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: My 401ks Summary Plan Description leaves a lot out (Rolling-out what was rolled-in)
Replies: 1
Views: 257

Re: My 401ks Summary Plan Description leaves a lot out (Rolling-out what was rolled-in)

I want to do something unusual with my 401k, but it's really hard to know whether I'm doing it correctly, because they keep their information hidden - this stuff isn't in the Summary Plan Description. Can you give me some advice on how to be sure that I'm getting this right even though I can only g...
by tfb
Sun Mar 18, 2018 12:19 am
Forum: Personal Finance (Not Investing)
Topic: Spoke to a financial advisor yesterday - what do you think he's up to?
Replies: 81
Views: 9305

Re: Spoke to a financial advisor yesterday - what do you think he's up to?

how would I have considered setting up a trust in the case that my son inherits over a million dollars due to our deaths? It just never would have occurred to me. This is quite rudimentary in estate planning. You would've discovered it if you thought of exploring what happens after you both die and...
by tfb
Wed Mar 14, 2018 12:05 am
Forum: Investing - Help with Personal Investments
Topic: Market Link CD
Replies: 5
Views: 796

Re: Market Link CD

I was pitched this by a financial planner. My first was red flag was when he said there is no risk. I told him, everything has some level of risk. I was just curious about it, I just wanted to learn a little more to be educated about how these products work, and I am already finding out some of the...
by tfb
Tue Mar 13, 2018 12:05 am
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 909

Re: Fix overcontribution to non-deductible portion Solo401k plan

DavidRoseMountain wrote:
Mon Mar 12, 2018 10:52 pm
Also, Harry did you do something new to the spreadsheet, because now it works exactly as Spirit Rider's math reveals.
I tried to make it calculate correctly, although I still can't guarantee it does for every case.
by tfb
Mon Mar 12, 2018 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 909

Re: Fix overcontribution to non-deductible portion Solo401k plan

Congratulations on catching this and a mea culpa is in order from tfb and myself for not catching this in your other thread. We were mistakenly fixated on the self-employed health insurance deduction. I have been cautious to recommend people "roll-their-own" one-participant 401k for the so-called M...
by tfb
Sat Mar 10, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP not reported on Box 1, but on Box 3 of W2.
Replies: 4
Views: 600

Re: ESPP not reported on Box 1, but on Box 3 of W2.

The weird thing is that the initial ESPP gains are reported on my W2 under Box 3 (Social Security Wages) and 5 (Medicare Wages) , but not on box 1. Do I need to make an adjustment via form 8949 to adjust the cost basis of $5079.90. Sounds like it should be the other way around: included in box 1 bu...
by tfb
Sat Mar 10, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: LLC is now a partnership. Looking for help with SEP IRA
Replies: 1
Views: 261

Re: LLC is now a partnership. Looking for help with SEP IRA

You need professional help on this. I just want to point out solo 401k and SEP cover owner-employees, not passive investors. So you need to distinguish income as a passive investor and income for actually working for the partnership.
by tfb
Fri Mar 09, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Funding an HSA (Fidelity)
Replies: 5
Views: 673

Re: Funding an HSA (Fidelity)

In either case, since the contribution limits can change AFTER the year starts (I believe this just happened a few days ago for one limit.), it sounds like there is no safe way to fund the plan. You can’t calculate a total amount and divide it out by paycheck so you are always in sync with the curr...
by tfb
Thu Mar 08, 2018 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Filed 2017 taxes electonically for FREE
Replies: 46
Views: 5518

Re: Filed 2017 taxes electonically for FREE

I was immediately disappointed when the free versions of the best known tax prep packages choked on the fact that I had small capital gains from two mutual fund sales. If you go through the IRS link you get a better version. I hear https://www.myfreetaxes.com is the H&R Block Premium edition which ...
by tfb
Thu Mar 08, 2018 10:29 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Target Date Funds
Replies: 25
Views: 2655

Re: Vanguard Target Date Funds

ANKLEDEEP wrote:
Thu Mar 08, 2018 2:39 am
I had a Edward Jones rep at a home and garden show this past weekend tell me he “hates them” tho he couldn’t give me a clear reason why.
Because they are so simple but he still can't beat them? I'd hate them too if I'm put into that position.
by tfb
Thu Mar 08, 2018 10:21 am
Forum: Personal Finance (Not Investing)
Topic: When does the 1-year HSA rollover clock start and end?
Replies: 12
Views: 1133

Re: When does the 1-year HSA rollover clock start and end?

Can I ask how indirect rollovers are reported on 1099s? I have been doing an annual indirect rollover for years to avoid a $25 trustee to trustee transfer fee, but the transferee just reports the amount as a distribution on the 1099. Should I be doing something other than keeping a copy of the chec...
by tfb
Thu Mar 08, 2018 12:35 am
Forum: Personal Finance (Not Investing)
Topic: HSA family max contribution lowered to $6850 for 2018 [and changed to $6900 again]
Replies: 128
Views: 15563

Re: HSA maximum change

well meaning individuals from unintentionally breaking the law through no fault of their own. HSA eligibility is month to month. When you contribute the annual maximum up front you decide to run ahead of yourself when you aren't eligible yet. You know there's always a possibility of excess contribu...
by tfb
Wed Mar 07, 2018 6:56 pm
Forum: Investing - Theory, News & General
Topic: Schwab Intelligent Portfolio vs. Schwab Target Fund
Replies: 92
Views: 11588

Re: Schwab Intelligent Portfolio vs. Schwab Target Fund

lhwerdyt*1791c wrote:
Wed Mar 07, 2018 3:16 pm
The Forum has already suggested a Schwab Target Fund (or a three fund) for in-retirement investing.
Remember Schwab has two sets of Target Funds. The older/original target funds aren't any better than SIP.
by tfb
Wed Mar 07, 2018 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: When does the 1-year HSA rollover clock start and end?
Replies: 12
Views: 1133

Re: When does the 1-year HSA rollover clock start and end?

So it sounds like the technically "right" answer is the date I received the check/ACH transfer -- in this case 3/5, so as long as I receive the next check/transfer 3/6/2019 or later I would be compliant? I don't know whether the fund leaving the HSA counts as my receiving it. I can't trust I will r...
by tfb
Wed Mar 07, 2018 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: HSA family max contribution lowered to $6850 for 2018 [and changed to $6900 again]
Replies: 128
Views: 15563

Re: HSA family max contribution lowered to $6850 for 2018

I notice the family contribution is now less than 2x the individual contribution. I assume that's a rounding thing that will disappear most years, but ... haven't seen it before. Scarcely seems fair ... It happened several times in the past. Both limits are rounded to $50. So they are often slightl...
by tfb
Wed Mar 07, 2018 1:48 am
Forum: Personal Finance (Not Investing)
Topic: When does the 1-year HSA rollover clock start and end?
Replies: 12
Views: 1133

Re: When does the 1-year HSA rollover clock start and end?

Put another way, when is the soonest I can I initiate another rollover (indirect through me, not trustee-to-trustee) next year given a timeline this year that looks like this: 3/1 - initiated withdrawal from the "from" HSA; 3/2 - check sent made out to me; 3/5 - check received; 3/6 - check deposite...
by tfb
Tue Mar 06, 2018 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: back-to-back recharacterization mess
Replies: 3
Views: 322

Re: back-to-back recharacterization mess

Here's a summary: 1) put money in Roth IRA (when I shouldn't have contributed to begin with) 2) recharacterized that to a Traditional Ira 3) recharacterized that to a Roth Ira Is the above maneuver legit? It's not. A recharacterized contribution can't be recharacterized again. It's possible the per...
by tfb
Tue Mar 06, 2018 11:05 pm
Forum: Investing - Theory, News & General
Topic: Reuters-" Special Report: Fidelity puts 6 million savers on risky path to retirement"
Replies: 48
Views: 7249

Re: Reuters-" Special Report: Fidelity puts 6 million savers on risky path to retirement"

So the article might not be the best written. But, one example in the article is that the target date 2020 Fund has a stock allocation of 60%! The Vanguard 2020 fund has a stock allocation of 55%, not that much different. 40% of the stock allocation is in international! Please correct me if I am wr...
by tfb
Mon Mar 05, 2018 10:13 am
Forum: Investing - Theory, News & General
Topic: Reuters-" Special Report: Fidelity puts 6 million savers on risky path to retirement"
Replies: 48
Views: 7249

Re: Reuters-" Special Report: Fidelity puts 6 million savers on risky path to retirement"

Katietsu wrote:
Mon Mar 05, 2018 10:07 am
So the article might not be the best written. But, one example in the article is that the target date 2020 Fund has a stock allocation of 60%!
The Vanguard 2020 fund has a stock allocation of 55%, not that much different. 40% of the stock allocation is in international!
by tfb
Sat Mar 03, 2018 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security in case of 2 W2s
Replies: 3
Views: 450

Re: Social Security in case of 2 W2s

Tax software will calculate the excess paid by the employee as a credit. Your own company won't get any credit back.
by tfb
Wed Feb 28, 2018 11:22 am
Forum: Investing - Help with Personal Investments
Topic: Any downside to large number of tax lots?
Replies: 17
Views: 1490

Re: Any downside to large number of tax lots?

With the common discussion on the pros and cons of dividend reinvestment aside, does anyone see any downsides of having a large number of tax lots? I trust in Vanguard to keep track of everything for me so I am not concerned about the tracking aspect but I am wondering if I am going to hate myself ...
by tfb
Wed Feb 28, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: PSA - beware auto import on tax software
Replies: 4
Views: 490

Re: PSA - beware auto import on tax software

wjo wrote:
Wed Feb 28, 2018 11:05 am
I am going to have to spend more time checking and rechecking all the things that were input automatically than just doing the manual input myself.
I agree. That's why I don't import.
by tfb
Wed Feb 28, 2018 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Side Hustle: Hourly financial planning
Replies: 44
Views: 5463

Re: Side Hustle: Hourly financial planning

I communicated with many hourly and project fee advice-only advisors all over the country. You'd be surprised to hear how busy they are. Some have all the business they want and they are not taking any new clients. Some are booked solid with a waiting list for several months. Fee-for-consultation i...
by tfb
Tue Feb 27, 2018 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle: Hourly financial planning
Replies: 44
Views: 5463

Re: Side Hustle: Hourly financial planning

I communicated with many hourly and project fee advice-only advisors all over the country. You'd be surprised to hear how busy they are. Some have all the business they want and they are not taking any new clients. Some are booked solid with a waiting list for several months. Fee-for-consultation is...
by tfb
Sun Feb 25, 2018 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: H&R Block software problem
Replies: 16
Views: 1735

Re: H&R Block software problem

Almost there wrote:
Sun Feb 25, 2018 7:51 pm
vtMaps wrote:
Why would you want to import your 2016 AGI into your 2017 tax return?
I didn't write to import the 2016 AGI. The software requested the info in order to verify who you are. Both the AGI and pin number.
They are not needed when you don't efile.
by tfb
Sun Feb 25, 2018 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle: Hourly financial planning
Replies: 44
Views: 5463

Re: Side Hustle: Hourly financial planning

My relatives in the financial services industry have assured me this model will not work. It may not work if you are trying to make $200k a year but I don't see how it can't work if you are not trying to make a living on it. You have very little cost in doing the work. Say you charge $500 per perso...
by tfb
Sun Feb 25, 2018 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth Mechanics
Replies: 43
Views: 4470

Re: Mega Backdoor Roth Mechanics

However, when I'm reading on the IRS website (https://www.irs.gov/retirement-plans/rollovers-of-after-tax-contributions-in-retirement-plans), it says that rolling over just the after-tax amounts is not allowed It says rolling over just the after-tax amounts without the associated earnings is not al...
by tfb
Sat Feb 24, 2018 12:22 am
Forum: Investing - Help with Personal Investments
Topic: Thoughts on an ESPP with 2 year contribution period?
Replies: 29
Views: 1674

Re: Thoughts on an ESPP with 2 year contribution period?

When you can buy at 15% off the price 2 years ago, the profit can be quite substantial. I would go for it.
by tfb
Wed Feb 21, 2018 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 9771

Re: Need Help Understanding 2017 ACA Insurance Bill for $28,690 and tax liabilities? Confused? Help?

I don't believe that you can deduct an IRA contribution with no earned income. So excess IRA contribution wont help. You could fill out the tax form incorrectly, I suppose, but no tax software is going to do that. Just tried this in tax software. You are right. You can contribute excess but you can...
by tfb
Wed Feb 21, 2018 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 9771

Re: Need Help Understanding 2017 ACA Insurance Bill for $28,690 and tax liabilities? Confused? Help?

No salaries paid from the rental business, only direct rent paid personally. Not looking good at all on that end :( Also have royalty income from our photography portfolio's from Getty, etc, etc. But it is not a salary. No looking good. [EDIT: Incorrect, see posts below.] Although you don't have in...
by tfb
Tue Feb 20, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Can I use Free H&R Block online to file my taxes if my taxable income is more than $99,999?
Replies: 15
Views: 1649

Re: Can I use Free H&R Block online to file my taxes if my taxable income is more than $99,999?

Now it is ready to be filed and I checked it - all the forms seem to be present (form 1040, schedule A, Schedule B + NY 201 form for state filing). Can I just file with with the free H&R block version, even though it said at some point that I'll need the H&R Block Deluxe version since my taxable in...
by tfb
Mon Feb 19, 2018 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up so spouse can contribute to Solo 401k
Replies: 17
Views: 2860

Re: Setting up so spouse can contribute to Solo 401k

Even though it predates QJVs (2007) the IRS has held that this guidance specifically allows an LLC in a community property state to be considered a qualified entity described in section 3.02 of that revenue procedure. Allowing the LLC to be treated as a disregarded entity to be able to elect QJV st...
by tfb
Mon Feb 19, 2018 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth and Turbotax 1099-R
Replies: 2
Views: 396

Re: Backdoor Roth and Turbotax 1099-R

Can someone tell me what I am doing wrong on Turbotax? Whenever I enter the information on my 1099-R and answer questions about the conversion to a Roth, I still get Federal and State tax taken out. You didn't realize the running meter in the interim isn't the final answer until you run the program...
by tfb
Mon Feb 19, 2018 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle cashback bonuses?
Replies: 8
Views: 1414

Re: How to handle cashback bonuses?

If I didn't have the $400 bonus, I would feel bad about buying the $310 pads and may opt for the $150 pad instead (or 1 superior quality pad rather than 2). Thus, having the $400 bonus makes me feel less guilty to splurge. That's just mental accounting. The $400 bonus is yours regardless which pad ...
by tfb
Mon Feb 19, 2018 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Keeping state tax refund off of ACA MAGI
Replies: 7
Views: 658

Re: Keeping state tax refund off of ACA MAGI

curmudgeon wrote:
Mon Feb 19, 2018 2:19 pm
Rather than taking the state refund, I will have it applied to 2018 state taxes.
Wouldn't the state issue a 1099-G for it as well?
by tfb
Mon Feb 19, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Setting up so spouse can contribute to Solo 401k
Replies: 17
Views: 2860

Re: Setting up so spouse can contribute to Solo 401k

Just a reminder that if the business is formed as a state entity (LLC), you cannot do the Joint venture option. https://www.irs.gov/businesses/small-businesses-self-employed/election-for-husband-and-wife-unincorporated-businesses Unless you are in a community property state. My reading of QJV and R...
by tfb
Sun Feb 18, 2018 1:23 pm
Forum: Forum Issues and Administration
Topic: Using math notation in Bogleheads posts
Replies: 12
Views: 2475

Re: Using math notation in Bogleheads posts

AsciiMath is an easy math markup language. Here are some examples. A=P(1+i/f)^(ft) becomes `A=P(1+i/f)^(ft)` V=sum_(i=1)^n(P_i/(1+r_i))^i becomes `V=sum_(i=1)^n(P_i/(1+r_i))^i` "rate" = ("ending value"/"begining value")-1 becomes `"rate" = ("ending value"/"begining value")-1` gMS=sum_(i=1)^n (1/(pr...
by tfb
Sat Feb 17, 2018 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Price of Turbotax
Replies: 3
Views: 765

Re: Price of Turbotax

I notice that the price of Turbotax Home and Business for Mac on a website called Tax Reps is about half the price of Amazon. https://www.taxreps.info/tax/turbotax-home-business-2017?search=tax Has anyone gotten Turbotax from this site? Just wonder if it can be trusted. These websites pop up every ...
by tfb
Sat Feb 17, 2018 2:15 am
Forum: Investing - Help with Personal Investments
Topic: Convert to ETF (not at Vanguard)
Replies: 20
Views: 1986

Re: Convert to ETF (not at Vanguard)

Has anybody ever converted Vanguard mutual fund shares to ETF, but done so at another broker (Schwab, Fidelity, Merrill etc.)? Vanguard's website says this is possible--I figured if anybody had ever actually done that it would have been amongst this group. :happy GammaPoint was able to do it at Wel...
by tfb
Wed Feb 14, 2018 10:36 am
Forum: Investing - Help with Personal Investments
Topic: Incorrect cost basis on Fidelity tax statements
Replies: 12
Views: 1416

Re: Incorrect cost basis on Fidelity tax statements

I still need to call fidelity for the short term losses and ask why that also has a cost basis of zero. And those losses weren't transferred from e-trade. You should've said you didn't buy these shares with cash from your brokerage account. The shares vested from an employer stock plan are required...
by tfb
Wed Feb 14, 2018 1:37 am
Forum: Personal Finance (Not Investing)
Topic: The Best HSA
Replies: 61
Views: 8063

Re: The Best HSA

I'm going to give you crazy Bogleheads a gift because I have gotten some useful information from your site before. Crazy Bogleheads already knew it a long time ago. Here's a thread from 2014, before Elements was known as Elements. You can probably find even earlier threads. Only being better than H...
by tfb
Fri Feb 02, 2018 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: Is taxcaster 2018 accurate for AMT?
Replies: 15
Views: 1781

Re: Is taxcaster 2018 accurate for AMT?

I doubt anyone will pay AMT in 2018 unless they have income only subject to AMT (ISO exercise for example).
by tfb
Fri Feb 02, 2018 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: After-tax 401k --> Mega Backdoor Roth IRA --> Early Withdrawal
Replies: 30
Views: 2489

Re: After-tax 401k --> Mega Backdoor Roth IRA --> Early Withdrawal

How would you know what the taxable portion ($2) is at the time of withdrawal ? Would the custodian where the Roth IRA is held provide you with a proper 1099-R showing this amount ? Or are you responsible for tracking this yourself ? You are supposed to track it yourself. Or you can just wait until...
by tfb
Thu Feb 01, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: After-tax 401k --> Mega Backdoor Roth IRA --> Early Withdrawal
Replies: 30
Views: 2489

Re: After-tax 401k --> Mega Backdoor Roth IRA --> Early Withdrawal

+ First out is the $2, as it is the taxable part of the rollover. I pay taxes and early withdrawal penalty (10%) given under 5 years. + Subsequently, the $2,368, as it is the non-taxable part of the rollover, is now accessible to me penalty-free? You pay 10% penalty on withdrawing $2 too soon but n...
by tfb
Thu Feb 01, 2018 2:06 am
Forum: Personal Finance (Not Investing)
Topic: Turbo Tax Newbie
Replies: 17
Views: 2129

Re: Turbo Tax Newbie

Trying to muster up the courage to TT it this year - can someone dummy down how I can punch in my tax info from 2016 (using my return) to confirm that I have the intelligence/ability to do 2017's taxes with minimal headache. The best way to practice is to buy a 2016 program on eBay (under $10). Use...
by tfb
Wed Jan 31, 2018 11:25 am
Forum: Personal Finance (Not Investing)
Topic: How to get rid of an IRA from old 401k plan to allow a back door Roth
Replies: 12
Views: 1331

Re: How to get rid of an IRA from old 401k plan to allow a back door Roth

If I understand things, I am not able to create a solo401k since I don't have a business. From what I have read in past threads, it gets pretty murky about what exactly comprises an actual business and the intent to make a profit. My question is since my currently employer doesn't offer a 401k plan...