Search found 2164 matches

by RudyS
Thu Apr 15, 2021 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Template for financial life for spouse if I’m dead?
Replies: 36
Views: 2263

Re: Template for financial life for spouse if I’m dead?

I am the financial spouse. We don't use bill pay but use auto pay (linked to joint checking account). Is there a reason to switch to bill pay? For a long time until this year I did manual payments through the various websites, but made a mistake (fortunately forgiven so no cost to me) a few months ...
by RudyS
Wed Apr 14, 2021 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: [Spouse recently passed away. Please help me handle his financial matters]
Replies: 111
Views: 7301

Re: [Spouse recently passed away. Please help me handle his financial matters]

On the minus side, I had to scan in a bunch of IRS forms. Expect to spend some time compiling and organizing the forms. Tip: Get a good desktop scanner. You'll need it throughout the year as you submit forms to a lot of places. Everyone wants a copy of something. Using a cellphone to take a photo i...
by RudyS
Fri Apr 09, 2021 9:08 pm
Forum: Personal Finance (Not Investing)
Topic: Questions for 10+ year retirees
Replies: 21
Views: 2930

Re: Questions for 10+ year retirees

Retired just over 20 years now at 65. The BIGGEST difference in our expenses is housing. We lived in a paid-up house in a medium COL area for about 18 years. THEN we relocated into a CCRC (continuing care retirement community) in what is close to a HCOLA. The actual figures vary very much so you'd n...
by RudyS
Thu Apr 08, 2021 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Amending medical record...best financial decision?
Replies: 26
Views: 2618

Re: Amending medical record...best financial decision?

The OP is asking about a financial aspect. Please, let’s keep away from discussions of treatments for the son’s condition. With all due respect, I took Big Dogs suggestion as a way to provide another input to the insurance company rating son's alleged condition. Such a hospital etc might carry more...
by RudyS
Wed Apr 07, 2021 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Buy the Audit protection (story)
Replies: 4
Views: 962

Re: Buy the Audit protection (story)

Thanks for sharing this experience. I have "always" used TurboTax, and never till last year even considered the audit protection. But last year we changed states, and moved to a CCRC where part of the fee is deductible as prepaid medical expense. Although I three times in the past I have s...
by RudyS
Wed Apr 07, 2021 1:52 pm
Forum: Personal Investments
Topic: How to lose the desire of outperforming the market?
Replies: 112
Views: 7112

Re: How to lose the desire of outperforming the market?

For those of who have the tinkering urge, I like the idea of doing the boring index thing with the vast majority of one's account (401k, etc), and having your own "play money" side account with a small portion of your portfolio, like 5% or less. Do robinhood, leverage, individual stocks, ...
by RudyS
Tue Apr 06, 2021 3:32 pm
Forum: Personal Investments
Topic: Mom's Legacy
Replies: 19
Views: 2847

Re: Mom's Legacy

We lost our Mom in August from natural causes, and we miss her a lot, Mom left us a 5 figure cash amount, among other assets, the cash is in a bank account earning 0 interest, we don't need the money, but would like to see it grow to keep Mom's fund from dwindling down, what advise and which , Vang...
by RudyS
Sun Apr 04, 2021 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Odd -(probably boneheaded) Tax question
Replies: 22
Views: 2225

Re: Odd -(probably boneheaded) Tax question

This discussion reminds me of the time where I got an IRS CP2000 letter indicating I had understated my tax due to the capital gains calculation. I asked TurboTax for help, but while waiting on the phone I kept looking at my return and found the problem. TT had used the Qualified Dividends and Capit...
by RudyS
Thu Apr 01, 2021 3:14 pm
Forum: Personal Consumer Issues
Topic: Planning a long backpacking trip w/ 2 nights in Vegas, recommendations? (Zion Nat'l Park, Yosemite, Grand Canyon)
Replies: 60
Views: 4654

Re: Planning a long backpacking trip w/ 2 nights in Vegas, recommendations? (Zion Nat'l Park, Yosemite, Grand Canyon)

Something to keep in mind is that rental car agreements usually specify that you cannot take the rental car off of paved roads. A concern is that if you are in an accident when you are on a dirt or gravel road that no car insurance would cover you since you were in violation of the rental agreement...
by RudyS
Thu Apr 01, 2021 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Moving: app or software to plan furniture in rooms
Replies: 2
Views: 227

Re: Moving: app or software to plan furniture in rooms

I've used excel for quick floor plans. Change the format so each cell is square and use borders for boundaries. Works great. Jordan Furniture (Massachusetts) has such a program, free, online, but you need to register. Also lets you put the furniture (from their site) into the rooms. Fairly easy to ...
by RudyS
Mon Mar 29, 2021 8:56 pm
Forum: Personal Investments
Topic: Leaving paid advisor with a large balance and gains
Replies: 26
Views: 3820

Re: Leaving paid advisor with a large balance and gains

I never could understand the concept of waiting for a pull-back to sell so that the tax is lower. The gain is also lower. Unless there is a timing issue that puts you into a lower bracket after a pull-back. What am I missing? If you're trading between different funds that are quite similar (ex: sp5...
by RudyS
Mon Mar 29, 2021 4:35 pm
Forum: Personal Investments
Topic: Leaving paid advisor with a large balance and gains
Replies: 26
Views: 3820

Re: Leaving paid advisor with a large balance and gains

I never could understand the concept of waiting for a pull-back to sell so that the tax is lower. The gain is also lower. Unless there is a timing issue that puts you into a lower bracket after a pull-back. What am I missing?
by RudyS
Mon Mar 29, 2021 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Cancer, Heart Attack & Stroke Insurance
Replies: 9
Views: 810

Re: Cancer, Heart Attack & Stroke Insurance

It seems kind of like narrowly focused long-term care insurance. I'm a bit skeptical mostly because the rates seem low and aren't age-based. Given how prevalent cardiovascular disease and cancer are, it's not clear how this is worth it to the company, unless their payouts are highly constrained. Yo...
by RudyS
Mon Mar 29, 2021 9:29 am
Forum: Personal Finance (Not Investing)
Topic: CP2000 Need help
Replies: 15
Views: 592

Re: CP2000 Need help

Does not the second (and/or first) CP2000 explain how to appeal their decision? I seem to recall that there is such info. Did you call the number shown on the CP2000?
by RudyS
Sat Mar 27, 2021 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Should I stay or should I go?
Replies: 48
Views: 5040

Re: Should I stay or should I go?

When I was in a similar position once, I asked a trusted friend for advice. He wisely said: "There isn't any decision to be made here. Accept the job. Then, every Monday morning when you wake up, ask yourself if you want to go back to work that week. If the answer is 'no', quit." Worked f...
by RudyS
Fri Mar 26, 2021 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Bank Account - Checking
Replies: 38
Views: 3528

Re: Bank Account - Checking

I think people may be getting mixed up. When I read your post, you are looking for a bank that has a checking account that has a low minimum balance. That way, you can keep the bulk of your money in a separate higher yielding savings account. Most banks have some sort of no-fee low minimum balance ...
by RudyS
Wed Mar 24, 2021 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Transferring assets to siblings
Replies: 6
Views: 652

Re: Transferring assets to siblings

bearwithbear wrote: Wed Mar 24, 2021 11:25 am OP,

Doesn't the cost basis stay with a gift?
Stepped up basis if inherited.
So how do your siblings sell highly appreciated shares for little or no gain?

Bear
Since we were given no details about the siblings, the more or less obvious answer is, it depends on their tax brackets.
by RudyS
Mon Mar 22, 2021 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: How to Deal with Worry of job loss and providing for family?
Replies: 127
Views: 10290

Re: How to Deal with Worry of job loss and providing for family?

To be honest, it was way too stressful for us. We had a four month period where I wasn't working, and it was too stressful for my husband, and it was too stressful for me. But I have many dear friends who are SAHMs, and it works really well for their families. I agree with all the above suggestions...
by RudyS
Sun Mar 21, 2021 4:57 pm
Forum: Personal Consumer Issues
Topic: REAL ID still set to be effective Oct 1 2021
Replies: 109
Views: 7368

Re: REAL ID still set to be effective Oct 1 2021

Social Security cards must NOT be laminated in Massachusetts. Even a piece of Scotch tape across the numbers was ground for rejection. So I just got a regular DL and will use my passport where needed. Why was there scotch tape? To protect the number from the wear of it being in my wallet. Did that ...
by RudyS
Sun Mar 21, 2021 4:32 pm
Forum: Personal Consumer Issues
Topic: REAL ID still set to be effective Oct 1 2021
Replies: 109
Views: 7368

Re: REAL ID still set to be effective Oct 1 2021

Social Security cards must NOT be laminated in Massachusetts. Even a piece of Scotch tape across the numbers was ground for rejection. So I just got a regular DL and will use my passport where needed.
by RudyS
Wed Mar 17, 2021 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: How to report selling expenses when 1099-B reports gross proceeds and no basis
Replies: 2
Views: 393

Re: How to report selling expenses when 1099-B reports gross proceeds and no basis

I have a 1099-B. In the "Proceeds", it has the gross proceeds from the sale of the stock, and the "gross proceeds" checkbox is checked in box 6. The "basis reported to IRS" checkbox in box 12 is not checked, and box 1e (cost or other basis) is blank. Various things wer...
by RudyS
Wed Mar 17, 2021 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Charitable deduction carryover. How to extend it beyond 5 years.
Replies: 4
Views: 344

Re: Charitable deduction carryover. How to extend it beyond 5 years.

IRS Pub 526 shows some exceptions to the general rule that partial interest of property are not deductible. I have not been in this situation, but just put Google to work. It is certainly worth your while to pursue this. Another possibility is a charitable gift annuity, but I have no knowledge of de...
by RudyS
Wed Mar 17, 2021 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Q? for Tax Guru's: Minor Correction to 1099
Replies: 5
Views: 338

Re: Q? for Tax Guru's: Minor Correction to 1099

If you are on the cash basis, like the majority of us, then if it was "paid in 2021" that means it goes on your 2021 return. No idea why Schwab would see this as 2020 income.
by RudyS
Wed Mar 17, 2021 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.
Replies: 407
Views: 46791

Re: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.

Here is a case I worked on some time ago. Family patriarch starts a successful business in the 1960's. The business grows into a national manufacturer that employs a couple of hundred people. He leaves the business to the son who took over running it. The daughter, who had no day to day connection ...
by RudyS
Tue Mar 16, 2021 8:37 pm
Forum: Personal Consumer Issues
Topic: interstate movers recommendation
Replies: 19
Views: 1006

Re: interstate movers recommendation

My post from a few months ago [and again a bit ago] in response to a similar question, might be useful depending on size of your load: First, take the documents and irreplaceable mementos with you, do not give them to the movers. Then, consider doing what United Van Lines calls a "snap move.&qu...
by RudyS
Tue Mar 16, 2021 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Trust account keeps sending paper statements
Replies: 13
Views: 993

Re: Vanguard Trust account keeps sending paper statements

My trust account (my name only) at Vanguard is paperless, my husband's trust account there (his name only) sends paper statements and we can't seem to change it to paperless. One of life's mysteries we've given up on solving. So the trust is in one name. But are there 2 trustees for each trust? In ...
by RudyS
Tue Mar 16, 2021 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Trust account keeps sending paper statements
Replies: 13
Views: 993

Re: Vanguard Trust account keeps sending paper statements

had the same problem. It matters in what order the trustees are listed. The person with online access, who wants to change the mailing preference to online, must be the first trustee listed on that account. DW and I each have a trust account, but at first the trustees on both were in the same order...
by RudyS
Mon Mar 15, 2021 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Table Showing Which Tax Software (versions) Covers Which Forms?
Replies: 4
Views: 385

Re: Table Showing Which Tax Software (versions) Covers Which Forms?

anon investor wrote: Turbo Tax Deluxe disc/download version will cover all of those forms (add 1099R too). Be careful. In the past, the disc version and the download version have not been identical. This may have changed, but in prior years the disk version could handle more complicated returns tha...
by RudyS
Mon Mar 15, 2021 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Trustee is refusing to give me an annual statement
Replies: 39
Views: 3762

Re: Trustee is refusing to give me an annual statement

The attorney is requesting a retainer of between $10,000 and $20,000. Before discussing it. I have tried several attorneys. Can you have an attorney send the "demand letter" that was mentioned above? For a flat fee just to send the letter? Do you have a relationship with an attorney alrea...
by RudyS
Sat Mar 13, 2021 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a Vanguard account for another individual
Replies: 11
Views: 848

Re: Opening a Vanguard account for another individual

Thank you both. I'll look into Vanguard's Full Agent Authorization once the account's been created. That sounds like exactly what we'll want. It will be interesting to hear what Vanguard does if your mother calls them and asks to open an account but can't do it online. I wonder if she will be able ...
by RudyS
Wed Mar 10, 2021 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: PSA: Free tax preparation (VITA) available entire remotely at GetYourRefund.org hub.
Replies: 13
Views: 934

Re: PSA: Free tax preparation (VITA) available entire remotely at GetYourRefund.org hub.

I'm curious if the VITA program is less important now with TurboTax and the virtual interview system. Filing personal income taxes is way easier today than it was when one had to fill out all of the forms by hand. If you meet the income and filing status (not married filing separately) the service ...
by RudyS
Tue Mar 09, 2021 10:55 pm
Forum: Personal Consumer Issues
Topic: Estate (Home) clean-out after my parents passing - tips and best practices?
Replies: 53
Views: 5828

Re: Estate (Home) clean-out after my parents passing - tips and best practices?

. One item on everyone's list was a 1940-early '50s stainless steel bottle opener with a magnet to hold the bottle lid. Do allow time to enjoy being with family! That Rival Can-o-mat brings back memories! My contribution to the thread - do your family a huge favor and do as much downsizing and decl...
by RudyS
Mon Mar 08, 2021 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Selling a new construction house and taxes
Replies: 39
Views: 2446

Re: Selling a new construction house and taxes

FWIW, and IMHO, a house that has been in rental service is likely less desirable (worth less) than a newly built house.
by RudyS
Sun Mar 07, 2021 3:57 pm
Forum: Personal Consumer Issues
Topic: differences in these advanced directive choices
Replies: 3
Views: 330

Re: differences in these advanced directive choices

RJ2010 wrote: Fri Mar 05, 2021 6:06 pm you can only choose one. so I'm confused about this
Makes no sense. Choices 1-5 are for who can make decisions about your care (advanced directive). Choices 6-8 are about what information is available to someone (HIPPA - health information privacy).

You need to get an explanation.
by RudyS
Sun Mar 07, 2021 3:39 pm
Forum: Personal Consumer Issues
Topic: Any advice on dropshipping?
Replies: 9
Views: 5799

Re: Any advice on dropshipping?

Are you seeing actual prices for sold items, or the asked prices in the listings? Just checking.
by RudyS
Sun Mar 07, 2021 2:28 pm
Forum: Personal Consumer Issues
Topic: Oil change interval for low-mileage vehicles
Replies: 172
Views: 22742

Re: Oil change interval for low-mileage vehicles

I pretty much follow the book on oil changes. But I can't resist the urge to pass along a funny comment from about 60 years ago. At that time some gas stations sold bulk oil. One variety was "re-refined." If you had a real oil burner or oil leaker, that was the thing to do. I have heard a ...
by RudyS
Fri Mar 05, 2021 10:19 pm
Forum: Personal Investments
Topic: Vanguard Checks Written on Brokerage/Settlement Account Being Rejected or Returned To Merchants
Replies: 74
Views: 7099

Re: Vanguard Checks Written on Brokerage/Settlement Account Being Rejected or Returned To Merchants

My opinion: — Do banking at banks. — Do investing at brokerages. — Don't seek all-in-one solutions. + 1 Except that QCDs come out of my IRA (brokerage) account. I could go to the trouble of requesting VG to write such checks, and I forward them, but I'd rather just write a check and send it to the ...
by RudyS
Fri Mar 05, 2021 9:42 pm
Forum: Personal Investments
Topic: Vanguard Checks Written on Brokerage/Settlement Account Being Rejected or Returned To Merchants
Replies: 74
Views: 7099

Re: Vanguard Checks Written on Brokerage/Settlement Account Being Rejected or Returned To Merchants

My opinion: — Do banking at banks. — Do investing at brokerages. — Don't seek all-in-one solutions. + 1 Except that QCDs come out of my IRA (brokerage) account. I could go to the trouble of requesting VG to write such checks, and I forward them, but I'd rather just write a check and send it to the ...
by RudyS
Fri Mar 05, 2021 4:58 pm
Forum: Personal Investments
Topic: Vanguard Checks Written on Brokerage/Settlement Account Being Rejected or Returned To Merchants
Replies: 74
Views: 7099

Re: Vanguard Checks Written on Brokerage/Settlement Account Being Rejected or Returned To Merchants

I have checkbooks for a trust account, for my IRA, and a brokerage joint account. All checks say that they are written on "Vanguards Brokerage Services Account". The account number is what directs them to the correct account. Any definition of what fund they draw on is in the account infor...
by RudyS
Fri Mar 05, 2021 11:50 am
Forum: Personal Consumer Issues
Topic: Help! Dealer may have sold the car we are buying
Replies: 97
Views: 7605

Re: Help! Dealer may have sold the car we are buying

Thanks for the update. Exactly my attitude. I would want nothing more to do with that outfit either.
by RudyS
Thu Mar 04, 2021 9:40 pm
Forum: Personal Finance (Not Investing)
Topic: FIRO (Financially Independent Retiring On-time)
Replies: 13
Views: 1761

Re: FIRO (Financially Independent Retiring On-time)

Retired at 64.5. I actually enjoyed my "work" and would have put in a couple more years. But Megacorp had a RIF and made an offer I couldn't refuse. No financial issues, DW had retired about year ago, had had enough of working. Did a little consulting for a few years, then just plain retir...
by RudyS
Thu Mar 04, 2021 12:19 pm
Forum: Personal Consumer Issues
Topic: Long Distance Move/Loading & Unloading Labor services
Replies: 4
Views: 249

Re: Long Distance Move/Loading & Unloading Labor services

One thought is to call local moving companies and ask if they would take this task on. If not, they could give you a lead maybe.
by RudyS
Sun Feb 28, 2021 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Scientific journal publication fees deductible on Sched C?
Replies: 16
Views: 852

Re: Scientific journal publication fees deductible on Sched C?

I have briefly been in academia, and believe that what OP meant by "journal publication fees" is the charge by a scientific journal made to the author of an article, so it can be published. (This was mentioned above by Doctor Rhythym). Had OP meant "subscription" I am sure OP wou...
by RudyS
Fri Feb 26, 2021 3:24 pm
Forum: Personal Consumer Issues
Topic: Does anyone have a pill splitter recommendation (specifically for small pills)?
Replies: 24
Views: 1437

Re: Does anyone have a pill splitter recommendation (specifically for small pills)?

I use a box knife to cut small pills. However you cut them, I'd suggest NOT cutting the pills as a batch but one by one as needed. This way, any unevenness in the cut is averaged out between one dose and the next. When cut as a batch, you risk giving "large" or "small" halves on...
by RudyS
Thu Feb 25, 2021 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Estate planning - Living revocable trust
Replies: 42
Views: 2653

Re: Estate planning - Living revocable trust

Gifts ARE included in the Massachusetts estate tax calculations. When (if) IRS 709 gift tax reports, for gifts beyond the $15K exclusion per donor per recipient, are filed Massachusetts gets that information. I had not heard that. I just looked on the internet and found another source that says IRS...
by RudyS
Thu Feb 25, 2021 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Estate planning - Living revocable trust
Replies: 42
Views: 2653

Re: Estate planning - Living revocable trust

Gifts ARE included in the Massachusetts estate tax calculations. When (if) IRS 709 gift tax reports, for gifts beyond the $15K exclusion per donor per recipient, are filed Massachusetts gets that information. I had not heard that. I just looked on the internet and found another source that says IRS...
by RudyS
Wed Feb 24, 2021 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Newbie Tax Question: Why No Federal Withholding for Spouse?
Replies: 15
Views: 955

Re: Newbie Tax Question: Why No Federal Withholding for Spouse?

Similar mismatch in income for us. I don't worry about it, and just adjust my own withholding to assure we hit the safe harbor limits.
by RudyS
Wed Feb 24, 2021 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning - Living revocable trust
Replies: 42
Views: 2653

Re: Estate planning - Living revocable trust

Let me rephrase. What is the standard level of service regarding this issue in the Massachusetts bar? What is the standard recommendation? The MA estate tax is somewhat unusual because if you exceed the $1M threshold the entire estate, including the first $1M, is subject to the tax. That's why I ca...
by RudyS
Wed Feb 24, 2021 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning - Living revocable trust
Replies: 42
Views: 2653

Re: Estate planning - Living revocable trust

OP here. Thank you for all the replies. The estate size in the event of both my spouse and I dying will exceed $1mn, when proceeds from life insurance payments are included. Without life insurance proceeds, the estate will not exceed $1mn as of today but at the current run rate of savings,it should...