Search found 10909 matches

by DSInvestor
Thu Mar 01, 2018 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: SEP IRA Employer Contribution to Backdoor Roth
Replies: 10
Views: 657

Re: SEP IRA Employer Contribution to Backdoor Roth

No, if you convert your SEP to Roth IRA right now, that would be a taxable conversion taking place in 2018. Also, this may be semantic, but the $4K in the SEP would appear on line 28 and as part of the adjustments to your gross income that give you AGI, so I would say that it is deductible. SEP-IRA...
by DSInvestor
Thu Mar 01, 2018 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: IRA Conversion from funds in a Vangauard brokerage account
Replies: 1
Views: 204

Re: IRA Conversion from funds in a Vangauard brokerage account

I have done Roth conversions from Vanguard mutual fund accounts into Roth IRA mutual fund accounts and for these conversions, I specified the $ amount of the funds that I wanted to convert. Really easy. I have done Roth conversions of ETFs in my Fidelity brokerage accounts and I had to specify the n...
by DSInvestor
Thu Mar 01, 2018 2:02 pm
Forum: Investing - Help with Personal Investments
Topic: taxable investment, tIRA, and backdoor roth questions
Replies: 5
Views: 501

Re: taxable investment, tIRA, and backdoor roth questions

If her 401k will accept inbound rollovers from IRA, you can transfer her IRA into her 401k which would open the backdoor into Roth IRA for her. Total Stock Market is a great choice for the taxable account. 500 Index and Large Cap index funds are excellent choices for Tax Loss Harvesting replacement ...
by DSInvestor
Thu Mar 01, 2018 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: SEP IRA Employer Contribution to Backdoor Roth
Replies: 10
Views: 657

Re: SEP IRA Employer Contribution to Backdoor Roth

The SEP-IRA contribution is pre-tax because the employer gets to deduct it as an expense. That 4K is a pre-tax contribution but it is not deductible on your tax return and does not reduce your AGI because the employer gets the deduction. If you wanted to convert the $4000 in SEP-IRA to Roth IRA, tha...
by DSInvestor
Thu Mar 01, 2018 12:27 am
Forum: Personal Consumer Issues
Topic: Walking shoes for plantar faciatis?
Replies: 61
Views: 5968

Re: Walking shoes for plantar faciatis?

Try getting some SUPERFEET insoles with your next pair of shoes.
https://www.superfeet.com/en-us/patient ... f-products

For shoes, take a look at Keen and Altra brands.

REI sells these shoes and insoles. They have a great return policy if you're not 100% satisfied after the purchase.
by DSInvestor
Tue Feb 27, 2018 6:51 pm
Forum: Personal Consumer Issues
Topic: Any downside to WiFi calling?
Replies: 25
Views: 2975

Re: Any downside to WiFi calling?

I have used WiFi calling when I was out of the country. May be useful if your plan has roaming charges outside the US.
by DSInvestor
Mon Feb 26, 2018 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: $500 above EITC limit and $700 above 20% savers credit instead of 10%...
Replies: 17
Views: 1243

Re: $500 above EITC limit and $700 above 20% savers credit instead of 10%...

let this be a lesson...I could have easily contributed $700 more to my 401k in December of last year to get more money back on my taxes but forgot to calculate my taxes until now instead of late November of last year like I should have. Now I cannot think of a way to lower my AGI and I already cont...
by DSInvestor
Mon Feb 26, 2018 10:18 pm
Forum: Investing - Help with Personal Investments
Topic: Rollover IRA Account or 401k?
Replies: 7
Views: 627

Re: Rollover IRA Account or 401k?

If your income is such that you need to use the backdoor into Roth IRA, moving to the 401k would make it less costly to use the backdoor into Roth IRA. Assets in rollover IRA accounts are counted by form 8606 and will trigger IRA basis proration on partial conversions. Assets in 401k are not counted...
by DSInvestor
Mon Feb 26, 2018 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Any Ideas on How to Reduce Our Adjusted Gross Income?
Replies: 16
Views: 2145

Re: Any Ideas on How to Reduce Our Adjusted Gross Income?

Not a tax guru but if you happen to take an IRA distribution in the last few days of December you might just barely still be in the 60 day window when you can deposit like you were moving part of the IRA. Nice one. Here's a link to a IRAHELP.COM page on the 60 day rollover rule: https://www.irahelp...
by DSInvestor
Mon Feb 26, 2018 9:42 pm
Forum: Personal Finance (Not Investing)
Topic: Any Ideas on How to Reduce Our Adjusted Gross Income?
Replies: 16
Views: 2145

Re: Any Ideas on How to Reduce Our Adjusted Gross Income?

Check your old tax returns (2016) to see if there are any capital loss carryovers. If there are capital loss carryovers that were somehow not entered into 2017 tax return, entering them would allow the capital gains to be offset and give you a lower AGI. Did you do any Roth conversions in 2017? If y...
by DSInvestor
Mon Feb 26, 2018 11:32 am
Forum: Investing - Help with Personal Investments
Topic: 1099 & Backdoor Roth IRA
Replies: 4
Views: 324

Re: 1099 & Backdoor Roth IRA

Enter your 2017 Traditional IRA contribution into your 2017 tax return. The tax return will figure out whether the TIRA contribution is deductible or non-deductible based on your tax situation (coverage by employer plan and income levels). If deductible, the deductible amount will show on 1040 line ...
by DSInvestor
Fri Feb 23, 2018 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Getting two w2 at same time
Replies: 10
Views: 881

Re: Getting two w2 at same time

If your combined W-2 wages exceeds the social security maximum ($128,400 for 2018), your tax return will see both W-2s, figure out that you may have overpaid social security and allow you to get the excess back.
by DSInvestor
Thu Feb 22, 2018 3:06 pm
Forum: Personal Consumer Issues
Topic: Boglehead Flashlight?
Replies: 65
Views: 6506

Re: Boglehead Flashlight?

I use headlamps for walking the dog. Its much easier to tie off a poo bag with two hands. Much easier to work on stuff around the house with a headlamp rather than a flashlight.
by DSInvestor
Wed Feb 21, 2018 10:00 pm
Forum: Personal Consumer Issues
Topic: [What TV Show Have You Recently Watched?]
Replies: 1026
Views: 109959

Re: Netflix, Your Current Favorite Show

A great mountain climbing documentary called Meru is now available on Netflix. It follows Conrad Anker, Jimmy Chin and Renan Ozturk as they attempt to climb the Shark's Fin on Mount Meru.
by DSInvestor
Wed Feb 21, 2018 9:47 pm
Forum: Investing - Help with Personal Investments
Topic: Can you front load a solo 401k based upon expected income?
Replies: 4
Views: 612

Re: Can you front load a solo 401k based upon expected income?

Depending on how you're organized it takes different amounts of income to be eligible for full 55K Solo 401k contribution. If you're an S-Corp, you'd need W-2 salary of around 146K which would allow 18.5K employee salary deferral and 36.5K employer profit share. If you're schedule C/SE, you'd need a...
by DSInvestor
Wed Feb 21, 2018 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 9939

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

If your plan is HSA eligible, make 2017 HSA contributions before the tax filing deadline. If you have compensation, make Traditional IRA contributions. At 65K AGI, you should be eligible for full TIRA deduction even if you were covered by an employer plan. If you were self employed and have not maxe...
by DSInvestor
Tue Feb 20, 2018 2:48 pm
Forum: Personal Consumer Issues
Topic: Paying for expedited credit card replacements?
Replies: 16
Views: 877

Re: Paying for expedited credit card replacements?

I have had great experiences with replacements of AMEX gold cards while traveling in and out of the US - overnight service to my hotel or other address. I had some other cards who would only send replacement cards to my home and not to my location if traveling.
by DSInvestor
Tue Feb 20, 2018 2:43 pm
Forum: Investing - Help with Personal Investments
Topic: What funds would you pick for 401k?
Replies: 8
Views: 778

Re: What funds would you pick for 401k?

It is very difficult to see what options are available in your 401k when you list 15+ links. Instead of providing links to each fund, try listing the fund name, ticker and expense ratio. If you have other investments in other accounts, it would be helpful to see what you hold there. If we find that ...
by DSInvestor
Tue Feb 20, 2018 1:26 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k - can I still contribute profit sharing for 2017?
Replies: 4
Views: 318

Re: Solo 401k - can I still contribute profit sharing for 2017?

Yes there still is time for you make employer profit share contributions to your Solo 401k for your sole proprietorship. Deadline is tax filing deadline. APRIL 17, 2018. As a part owner of another business, you may have some controlled group issues that may make you ineligible for Solo 401k. Under t...
by DSInvestor
Mon Feb 19, 2018 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: TaxSlayer backdoor Roth IRA help
Replies: 15
Views: 1742

Re: TaxSlayer backdoor Roth IRA help

The backdoor into Roth IRA has two steps: 1) Contribution to Traditional IRA 2) Roth conversion. The 1099-R only covers the conversion step of the backdoor into Roth IRA. Make sure you enter your Traditional IRA contribution as well. After the TIRA contribution is entered, the tax software will dete...
by DSInvestor
Mon Feb 19, 2018 12:59 pm
Forum: Investing - Help with Personal Investments
Topic: Can I recharacterize Roth contributions as Traditional contributions?
Replies: 1
Views: 203

Re: Can I recharacterize Roth contributions as Traditional contributions?

Before you recharacterize your 2017 Roth IRA contributions to 2017 Traditional IRA contributions, make sure that you're eligible for the Traditional IRA deduction. If you were covered by an employer plan (pension, 401k, 403b, 457b, SIMPLE-IRA, SEP-IRA, Solo 401k etc), your income may be at a level t...
by DSInvestor
Mon Feb 19, 2018 12:50 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k Question
Replies: 14
Views: 1174

Re: Solo 401k Question

You would need a qualifying event such as attaining age 59.5, separation from service or shutdown of plan to allow rollover assets out of the solo 401k plan penalty free. If your concern is RMD on the Roth 401k assets, you always have the option of rollover after age 59.5 if you're still working. If...
by DSInvestor
Mon Feb 19, 2018 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Misc Income [how to report with no 1099]
Replies: 87
Views: 4865

Re: Misc Income [how to report with no 1099]

In addition to the self employment tax on the schedule C income, also check to see if they claim the ACA premium tax credit for health insurance as an increase in income could decrease this credit.
by DSInvestor
Sun Feb 18, 2018 11:21 am
Forum: Personal Finance (Not Investing)
Topic: How to qualify wife for ACA subsidy in 2018
Replies: 18
Views: 1842

Re: How to qualify wife for ACA subsidy in 2018

I will be 69 this month and wife is 60. My projected income for 2018 with SS, company pensions, dividends and rent income will be approximately $68K+. Will not take a RMD from my IRA until 2019. If I could keep my income below $66K for 2018 wife qualifies for $977 per month goverment health care, A...
by DSInvestor
Sun Feb 18, 2018 10:09 am
Forum: Personal Finance (Not Investing)
Topic: How to qualify wife for ACA subsidy in 2018
Replies: 18
Views: 1842

Re: How to qualify wife for ACA subsidy in 2018

Do you have any tax lots with capital losses in your taxable account? Realizing those tax losses could reduce your AGI by up to 3K/yr. For example, you realize 15K of capital loss in 2018. This would reduce your AGI by 3K in 2018 and 12K of loss will carry forward to tax year 2019. 15K of net capita...
by DSInvestor
Sat Feb 17, 2018 12:34 pm
Forum: Investing - Help with Personal Investments
Topic: Mutual Fund selling price
Replies: 9
Views: 822

Re: Mutual Fund selling price

Thanks. Question - if I put in my buy order before the market closes at 4pm EST then I will get the closing price of the MUTF for that date correct? Yes, mutual fund orders submitted before market close will the NAV at that market close. If you submit your mutual fund order at 4:01PM EST (after clo...
by DSInvestor
Fri Feb 16, 2018 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Connecticut is charging sales tax on out of state purchases
Replies: 40
Views: 3489

Re: Connecticut is charging sales tax on out of state purchases

Mass tried to do this with over the border stores in New Hampshire (no sales tax state). The New Hampshire told Mass to pound sand. Fortunately, Mass has extensive oceanfront beaches to get that sand from. Does MA allow for tax free sales for NH residents shopping in MA? In WA, residents of OR, MT,...
by DSInvestor
Fri Feb 16, 2018 1:14 pm
Forum: Investing - Help with Personal Investments
Topic: Mutual Fund selling price
Replies: 9
Views: 822

Re: Mutual Fund selling price

Novice question here... when I attempt to sell a MUTF it says the selling price will be at the next NAV calculated at closing which can be higher or lower than the last price. So, essentially one is selling without even knowing the price they are selling at. My question is, I am not able to specify...
by DSInvestor
Fri Feb 16, 2018 12:56 pm
Forum: Personal Consumer Issues
Topic: Should I be paying $1300/yr. for under/uninsured motorist protection?
Replies: 99
Views: 8810

Re: Should I be paying $1300/yr. for under/uninsured motorist protection?

Consider that there are approximately 12.5 million undocumented immigrants in this country, the laws of most states do not allow undocumented immigrants to get drivers licenses, and thus most such undocumented immigrants cannot get insurance. So that's maybe three or four out of every 100 drivers i...
by DSInvestor
Fri Feb 16, 2018 12:32 pm
Forum: Investing - Help with Personal Investments
Topic: How to File Separately after Joint Estimated Payments
Replies: 4
Views: 556

Re: How to File Separately after Joint Estimated Payments

I just wanted to make sure you look at the filing status carefully. You probably have given that you're using tax software but it is possible to have missed something in the software as I did last year. For example, if you're getting ACA premium tax credit, filing MFS would make you ineligible for t...
by DSInvestor
Thu Feb 15, 2018 9:52 pm
Forum: Personal Consumer Issues
Topic: Cell phone service
Replies: 38
Views: 3756

Re: Cell phone service

My wife and I have cricket and we are pleased with it. Are you not getting signal in your area? Is 8Mbps data not fast enough for you? We particularly like our plan which allows us to use the phone without fear of roaming charges when we are in Canada. We have taken our cricket phones on cross count...
by DSInvestor
Thu Feb 15, 2018 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: I think I filed my back door roth incorrectly in Turbo tax
Replies: 8
Views: 815

Re: I think I filed my back door roth incorrectly in Turbo tax

The 1099-R only handles the conversion step of the backdoor into Roth IRA. The TIRA contribution step must be entered into Turbotax as well. Turbotax will then determine whether the IRA contribution was deductible or non-deductible. If non-deductible, form 8606 will be added to track the IRA basis a...
by DSInvestor
Thu Feb 15, 2018 12:05 pm
Forum: Investing - Help with Personal Investments
Topic: Break down of self employed investing options
Replies: 4
Views: 437

Re: Break down of self employed investing options

Let’s say that metaphorically we are able to max out our solo 401k, where would we go next? Roth IRA 5.5K for each spouse. Note that you still have time to contribute to Roth IRA for tax year 2017 (deadline is APRIL 17, 2018 tax day) HSA if you have HSA eligible health insurance plan. Taxable Inves...
by DSInvestor
Tue Feb 13, 2018 1:31 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA and contribution deadline question
Replies: 12
Views: 1112

Re: Roth IRA and contribution deadline question

While Roth IRA contributions are not visible on your tax return, tax software may track your contributions to track Roth IRA contribution and/or conversion basis. I vaguely remember Turbotax doing this. The IRA contribution whether Roth or Traditional may allow the taxpayer to claim retirement saver...
by DSInvestor
Fri Feb 09, 2018 11:27 pm
Forum: Personal Consumer Issues
Topic: Suggest coffee maker please
Replies: 113
Views: 8231

Re: Suggest coffee maker please

Another vote for Aeropress.
by DSInvestor
Fri Feb 09, 2018 12:06 pm
Forum: Personal Consumer Issues
Topic: Best TV options for multiple residences?
Replies: 9
Views: 702

Re: Best TV options for multiple residences?

If you have a cable subscription with HBO at one home, you can use HBO Go on tablets, Apple TV, Roku at the other homes. CNN also has an app for Apple TV and Roku where you can authenticate using your cable subscription at your main home. Amazon Prime Video, Netflix, Hulu should work great at all ho...
by DSInvestor
Wed Feb 07, 2018 1:07 am
Forum: Personal Finance (Not Investing)
Topic: Accidental Rollover of after tax contributions to a traditional IRA
Replies: 29
Views: 2286

Re: Accidental Rollover of after tax contributions to a traditional IRA

I am retired and am no longer working. All I have is some IRAs and some 401ks from some old employees. So it looks like my only choice is to keep the TIRA and file form 8606 and when I begin to take distributions from my TIRAs, to prorate the portion relating to the $59k to recoup that portion tax ...
by DSInvestor
Tue Feb 06, 2018 7:52 pm
Forum: Personal Consumer Issues
Topic: Best BBQ in Austin
Replies: 33
Views: 3341

Re: Best BBQ in Austin

Franklin Barbecue. Perhaps some locals can provide some suggestions for places without lines.
by DSInvestor
Tue Feb 06, 2018 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Accidental Rollover of after tax contributions to a traditional IRA
Replies: 29
Views: 2286

Re: Accidental Rollover of after tax contributions to a traditional IRA

Could I get the same result with creating a new TIRA at Vanguard and rollover all the cash but $59k from the current TIRA and then convert the old TIRA to a Roth? My assets in the TIRA have been in a money market account in the TIRA since the distribution. No this won't work because form 8606 asks ...
by DSInvestor
Mon Feb 05, 2018 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Accidental Rollover of after tax contributions to a traditional IRA
Replies: 29
Views: 2286

Re: Accidental Rollover of after tax contributions to a traditional IRA

Here's some text from my 1099-R for box 5: Box 5. Generally, this shows the employee's investment in the contract (after-tax contributions), if any, recovered tax free this year; the portion that is your basis in a designated Roth account; the part of premiums paid on commercial annuities or insuran...
by DSInvestor
Mon Feb 05, 2018 5:14 pm
Forum: Investing - Help with Personal Investments
Topic: More questions about funding individual 401k
Replies: 4
Views: 296

Re: More questions about funding individual 401k

S corp with no other employees. Unfortunately, income is not totally predictable. Subcontract work with hourly pay. Varies from month to month. Hard to figure out the allowable contribution from the employer side. The employer contribution can be made at any time so you can hold off on employer con...
by DSInvestor
Mon Feb 05, 2018 5:02 pm
Forum: Investing - Help with Personal Investments
Topic: More questions about funding individual 401k
Replies: 4
Views: 296

Re: More questions about funding individual 401k

How is your business organized? If incorporated paying you a W-2 salary, the employee salary deferral contributions must be withheld from paychecks. Once withheld, the corporation makes the contribution on your behalf. The employer profit share can be 0-25% of your W-2 salary, funded by the corporat...
by DSInvestor
Mon Feb 05, 2018 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Accidental Rollover of after tax contributions to a traditional IRA
Replies: 29
Views: 2286

Re: Accidental Rollover of after tax contributions to a traditional IRA

If you made after-tax non-Roth 401k contributions into the 401k and that money was transferred into a Traditional Rollover IRA, you now have IRA basis that needs to be tracked in form 8606. In this case, you may be able to isolate this IRA basis and convert it to Roth IRA tax free. Say you have IRA ...
by DSInvestor
Mon Feb 05, 2018 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: IRA contribution question. Can my dad contribute?
Replies: 6
Views: 545

Re: IRA contribution question. Can my dad contribute?

Roth IRA contributions are allowed after age 70.5. If they file as married filing jointly, he can contribute to his Roth IRA based on his wife’s compensation. Yes, but if MAGI too high, then backdoor Roth contribution is not allowed if 70.5 or older... Yes, that is correct. The backdoor into Roth I...
by DSInvestor
Mon Feb 05, 2018 1:59 pm
Forum: Investing - Help with Personal Investments
Topic: 31 y.o. - Here's What I'm Doing; What Can I be Doing Better?
Replies: 15
Views: 2570

Re: Here's What I'm Doing - What Can I be Doing Bettere

You can make employer contributions to the i401k of around 20% of net business income to give you some extra tax advantaged space. If your tax situation is such that you’re in a very low or 0% tax bracket, reduce traditional employee i401k and increase Roth i401k contributions. Employer profit share...
by DSInvestor
Mon Feb 05, 2018 1:51 pm
Forum: Investing - Help with Personal Investments
Topic: First investments outside 401k, cash on hand..
Replies: 3
Views: 449

Re: First investments outside 401k, cash on hand..

Increase 401k contributions to max out for 18.5K each. If cannot afford to max out both 401k plans, prioritize his 401k as that seems to have very low expenses. The Transmerica plan may be costly, but let’s see. Consider Traditional 401k contributions and Roth IRA contributions. This will maximize y...
by DSInvestor
Mon Feb 05, 2018 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Maxed, Have More To Invest
Replies: 5
Views: 815

Re: Roth IRA Maxed, Have More To Invest

Are you married or single? If married, your spouse can make Roth IRA contributions as well.
by DSInvestor
Mon Feb 05, 2018 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401K contribution for W-2
Replies: 1
Views: 199

Re: Solo 401K contribution for W-2

If your wife’s W2 income is from a business that she does not own, she is not eligible for solo 401k. If she owns the business and it has no employees, she can use solo 401k. When I was an S-Corp paying myself a w2 salary, I contributed to solo401k. If she participates in your business, you could pa...
by DSInvestor
Mon Feb 05, 2018 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: IRA contribution question. Can my dad contribute?
Replies: 6
Views: 545

Re: IRA contribution question. Can my dad contribute?

Roth IRA contributions are allowed after age 70.5. If they file as married filing jointly, he can contribute to his Roth IRA based on his wife’s compensation.
by DSInvestor
Mon Feb 05, 2018 1:03 am
Forum: Personal Finance (Not Investing)
Topic: Possible to recharacterize Roth *contribution*?
Replies: 3
Views: 371

Re: Possible to recharacterize Roth *contribution*?

Yes, you can recharacterize a 2017 Roth IRA contribution to a 2017 Traditional IRA contribution even if the contribution was made in calendar 2018. Make sure you're eligible for deductible Traditional IRA contributions. It would not be good to recharacterize only to find out that you cannot take the...