Search found 1088 matches

by Prokofiev
Sat Apr 10, 2021 7:25 pm
Forum: Personal Investments
Topic: Effective tax rate 40%+ Sanity check on strategy for tax efficient investing
Replies: 52
Views: 3753

Re: Effective tax rate 40%+ Sanity check on strategy for tax efficient investing

40%+? Wow. I'm trying to figure out what it takes to get to that level. That's insane. Good grief, what are the state & local taxes where you live? You must be young. I started a job in 1978. By 1980-82 I was in a Fed marginal bracket of 50% or more each year. My Fed + state tax was 50-54% But ...
by Prokofiev
Thu Apr 08, 2021 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Do you LOVE your tax professional?
Replies: 19
Views: 1664

Re: Do you LOVE your tax professional?

After contributing to a BH thread about tax CPA problems several months ago, I decided to fire our CPA who handled a family business. Paid about $50 to TurboTax this year compared to $800 for his services. Since I was constantly fixing his errors, I figured we had little to lose. I would ask tax que...
by Prokofiev
Wed Apr 07, 2021 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: Why would a condo assn own some of the units?
Replies: 4
Views: 776

Re: Why would a condo assn own some of the units?

Best to contact the BOD / President and ask this and other questions.

Make sure to read the Condo documents and rules/regs before buying.
by Prokofiev
Tue Mar 23, 2021 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: $150k AGI cliff for 2021
Replies: 16
Views: 2228

Re: $150k MAGI cliff for 2021

Your post refers to $150k MAGI cliff. Isn't it a $150k AGI limit?

This makes a difference.
by Prokofiev
Sun Mar 14, 2021 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Primer on Paying Taxes With a Credit Card
Replies: 154
Views: 50459

Re: Primer on Paying Taxes With a Credit Card

I realize this will be for a limited audience, but the Amtrak Rewards card gives you a guaranteed 2.8%. This can only be used as currency for an Amtrak ticket. You also receive 5% back when you purchase a fare using points. So almost 3% back in total. We spend about $50k/year on state, federal and r...
by Prokofiev
Sat Mar 13, 2021 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone had a TurboTax return that included a form 1116 accepted?
Replies: 200
Views: 10316

Re: Has anyone had a TurboTax return that included a form 1116 accepted?

Are you aware of any other "tricks" I might try? Unfortunately, I'm not. It's strange that yours had RIC in the date. Do you think TT automatically put that in or did you enter RIC yourself in the interview for the date? In my case, I originally typed various in for the date during the in...
by Prokofiev
Sat Feb 27, 2021 1:45 am
Forum: Personal Finance (Not Investing)
Topic: Looking For A "Rule Of Thumb" For How Much College Can I Afford
Replies: 45
Views: 2532

Re: Looking For A "Rule Of Thumb" For How Much College Can I Afford

There is no way to calculate it, especially now when A LOT of fields of study have no direct application to the workforce. So, if someone is planning on getting a degree in "western musicology" (I have a family member with this degree, from an Ivy), the correct amount to borrow is what? T...
by Prokofiev
Sun Feb 21, 2021 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone had a TurboTax return that included a form 1116 accepted?
Replies: 200
Views: 10316

Re: Has anyone had a TurboTax return that included a form 1116 accepted?

Mine too was finally rejected today. I logged back into TurboTax and changed nothing. TT ran the error check and said "No errors". Refiled and was accepted by IRS 1 hour later. I did have the form 1116, but I do not have a carry-over from previous years. Right now I should get 100% of for...
by Prokofiev
Sun Feb 21, 2021 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone had a TurboTax return that included a form 1116 accepted?
Replies: 200
Views: 10316

Re: Has anyone had a TurboTax return that included a form 1116 accepted?

Mine too was finally rejected today. I logged back into TurboTax and changed nothing. TT ran the error check and said "No errors". Refiled and was accepted by IRS 1 hour later. I did have the form 1116, but I do not have a carry-over from previous years. Right now I should get 100% of for...
by Prokofiev
Sun Feb 21, 2021 7:08 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone had a TurboTax return that included a form 1116 accepted?
Replies: 200
Views: 10316

Re: Has anyone had a TurboTax return that included a form 1116 accepted?

Mine too was finally rejected today. I logged back into TurboTax and changed nothing. TT ran the error check and said "No errors". Refiled and was accepted by IRS 1 hour later. I did have the form 1116 with RIC, but I do not have a carry-over from previous years. Right now I should get 100...
by Prokofiev
Sat Feb 20, 2021 1:28 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone had a TurboTax return that included a form 1116 accepted?
Replies: 200
Views: 10316

Re: How long is the IRS taking to accept returns

Has anyone with TurboTax had their return approved with the foreign tax credit on their 1099-DIV? Apparently FreeTaxUSA is not allowing foreign tax credit to be e-filed, they claim the IRS is mandating a paper filing. Yes, I did claim a foreign tax credit of $340 and filed a 1116 form as part of my...
by Prokofiev
Sat Feb 20, 2021 12:48 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone had a TurboTax return that included a form 1116 accepted?
Replies: 200
Views: 10316

Re: How long is the IRS taking to accept returns

Used TurboTax download version. Filed Feb 14. Still waiting for IRS and State to accept my returns. There is a notice on TT website : "Pending simply means that your e-filed return is on its way and that the government hasn't accepted or rejected it yet. If you e-filed your return before Februa...
by Prokofiev
Wed Feb 17, 2021 10:44 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used CPA for taxes AND did them on their own to compare?
Replies: 58
Views: 5540

Re: Has anyone used CPA for taxes AND did them on their own to compare?

We have a CPA firm file our business-related taxes. Basic commercial RE. Rents minus costs and depreciation. Yet every year there is a mistake. I check the returns, compare them to a dummy-return I prepare with TurboTax and tell them the problems. The guy now sends me an electronic copy each year an...
by Prokofiev
Sat Feb 13, 2021 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Engineering Physics as a major
Replies: 92
Views: 4596

Re: Engineering Physics as a major

BlueCable wrote: Sat Feb 13, 2021 11:45 am There is way less calculus in engineering than physics.
This is what would worry me. If he wants to be a Physicist, but doesn't like math . . . that won't work.
Calculus is just the beginning.

Sounds like he really wants to be an engineer.
by Prokofiev
Mon Feb 08, 2021 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Would like to fire contractor and ask for excess paid money back - Any unforeseen issues?
Replies: 53
Views: 5491

Re: Would like to fire contractor and ask for excess paid money back - Any unforeseen issues?

I would strongly advise you to document all unfinished work with dates and dated photos. Also save any Emails and correspondence concerning the project. Do not rely on verbal agreements or change orders. Always document with an Email to the contractor and ask him to agree via reply. When we did a re...
by Prokofiev
Mon Feb 08, 2021 1:05 am
Forum: Investing - Theory, News & General
Topic: Trying to understand how ER fees are spent.
Replies: 61
Views: 3513

Re: Trying to understand how ER fees are spent.

https://i.postimg.cc/qMJ6Y4FJ/Capture.jpg good g-d man! that vanguard employee's got at least 3 computer monitors (others to the left are obscured by the photo) and some phone system from outer space with dozens of lines and green and yellow buttons at the top of her keyboard that I don't have on m...
by Prokofiev
Tue Jan 26, 2021 8:42 pm
Forum: Personal Investments
Topic: Help! Locked out of Vanguard account and impossible to reach a contact center rep
Replies: 49
Views: 3883

Re: Help! Locked out of Vanguard account and impossible to reach a contact center rep

Vanguard doesn’t let you log on from outside the US. I’m surprised you were able to sign in for the first few times. You would want them to keep your account secure from someone trying to access it from overseas, wouldn’t you? I've logged in from China, Hong Kong, Japan, Europe. I am using a VPN ri...
by Prokofiev
Mon Jan 25, 2021 9:26 pm
Forum: Personal Consumer Issues
Topic: Do you cover your AC compressor in winter?
Replies: 50
Views: 4345

Re: Do you cover your AC compressor in winter?

I'm running the AC as we speak . . . so no, Winter is just a foreign concept here in New Orleans.
by Prokofiev
Wed Jan 20, 2021 6:15 pm
Forum: Personal Investments
Topic: Opinions on "limit" order to buy a stock at a slightly lower price than current price
Replies: 28
Views: 1325

Re: Opinions on "limit" order to buy a stock at a slightly lower price than current price

Why catch a south-bound train if you are traveling north?

That said, I do it all the time. Win some. Lose some.
by Prokofiev
Tue Jan 19, 2021 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Family support for an artist
Replies: 188
Views: 10961

Re: Family support for an artist

We know many artists. Most of them have full time jobs related to arts such as professors, teachers, museum curators ... We also buy some art pieces from them after their exhibitions. We use some of them as gifts unless expensive. I believe teaching positions are the best fit for artists. There is ...
by Prokofiev
Tue Jan 12, 2021 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: QCD requirements and tax advantages
Replies: 29
Views: 1807

Re: QCD requirements and tax advantages

QCDs reduce your AGI. Just to be perfectly clear, QCDs without either RMDs or other tIRA withdrawals do not reduce your AGI, right? I agree with you, BoulderBoy. I've heard people say this before, but really QCDs don't reduce your AGI, they just keep it from growing due to having to take an RMD. Po...
by Prokofiev
Fri Jan 08, 2021 4:43 pm
Forum: Personal Investments
Topic: Negative real return for BND?
Replies: 157
Views: 11817

Re: Negative real return for BND?

Right. But once you have sold them, you can't just buy them back again because of the yearly limit. So I sold $40k of I-bonds yielding .2% and 0% real back in Nov 2018 and bought TIPS yielding 1.1%-1.4% real. Now I would gladly switch back, but I'm limited to $10k. This is part of the reason I didn...
by Prokofiev
Fri Jan 08, 2021 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Ugh Vanguard! May have to leave. They made a huge error.
Replies: 223
Views: 25285

Re: Ugh Vanguard! May have to leave. They made a huge error.

When Bank of America made the error I mentioned, I left within 10 minutes of them fixing it. I left by making them hand me a cashier's check for all the assets I had with them and closed all my accounts with them. It made me feel better, too. You should leave Vanguard. I may. PAS has also not been ...
by Prokofiev
Wed Jan 06, 2021 12:25 am
Forum: Investing - Theory, News & General
Topic: Can a portfolio of boring dividend stocks outperform the market?
Replies: 75
Views: 6745

Re: Can a portfolio of boring dividend stocks outperform the market?

Having done a fair amount of reading in the subject I can tell you that "dividends" is a poor value to key off of. It has a low signal power. It is like trying to classify people into males/females by looking at the length of their hair and if they are wearing dresses. Yes indeed. Living ...
by Prokofiev
Tue Jan 05, 2021 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: 2021 QCD at Vanguard
Replies: 53
Views: 2715

Re: 2021 QCD at Vanguard

Not being near 70.5 for several years, I had never thought much about QCDs. Sure, if you give away your IRA money, you are not taxed on it. Big deal. But now I start to see the utility. No need to hit a deductibility threshold with QCDs. You can take the full standard deduction AND 100% of the QCD. ...
by Prokofiev
Tue Jan 05, 2021 8:54 pm
Forum: Personal Investments
Topic: Negative real return for BND?
Replies: 157
Views: 11817

Re: Negative real return for BND?

Another bonus to I Bonds: you can hold them anywhere from 1 to 30 years - so if they remain a good deal relative to TIPS, you can just hang onto them until you need them. If TIPS go positive again, you can sell them and move over. In short: higher rates *and* more flexibility! Right. But once you h...
by Prokofiev
Sun Jan 03, 2021 10:22 pm
Forum: Personal Investments
Topic: Negative real return for BND?
Replies: 157
Views: 11817

Re: Negative real return for BND?

Some of you are putting a lot of thought into this bond thing. People have been saying for years to stay away from bonds because interest rates have to go up, and it seems like people are still saying stay away. But, 2020 would have been a very good year to be in bonds. I've been avoiding them for ...
by Prokofiev
Sun Jan 03, 2021 9:42 pm
Forum: Personal Investments
Topic: Negative real return for BND?
Replies: 157
Views: 11817

Re: Negative real return for BND?

Some of you are putting a lot of thought into this bond thing. People have been saying for years to stay away from bonds because interest rates have to go up, and it seems like people are still saying stay away. But, 2020 would have been a very good year to be in bonds. I've been avoiding them for ...
by Prokofiev
Sat Dec 26, 2020 1:18 am
Forum: Investing - Theory, News & General
Topic: Looking to truly understand “ability, willingness and need to take risk“ concept
Replies: 55
Views: 3893

Re: Looking to truly understand “ability, willingness and need to take risk“ concept

"Since the idea of need, ability, and willingness originates with Larry Swedroe . . ." I think this "truism" is a favorite saying of many money managers. It seems so logical yet really doesn't solve any actual problems or is actionable. A rich person has little need to take risk ...
by Prokofiev
Mon Dec 21, 2020 1:55 pm
Forum: Personal Investments
Topic: Investing in reentry of Oil Well
Replies: 50
Views: 3236

Re: Investing in reentry of Oil Well

Money is nearly free these days. Between bank interest rates and crazy equity multiples I don’t understand why anyone would need to pursue you this much or pay you well for your $100k. Unless, of course, the risk is that much higher than most investments... I know, not super helpful, but worth a th...
by Prokofiev
Mon Dec 21, 2020 1:06 am
Forum: Personal Investments
Topic: Investing in reentry of Oil Well
Replies: 50
Views: 3236

Re: Investing in reentry of Oil Well

FWIW I have little exposure to O&G beyond VTI. But then . . . Everything seems credible. Do you see a contradiction here? This ROI is based on a 3x3 table showing 40,50,60 BOPD and price at $40,$50,$60. What makes this "table" credible? How about a 5,10,15 BOPD table with prices $30,$...
by Prokofiev
Thu Dec 17, 2020 5:07 pm
Forum: Personal Investments
Topic: Vague Vanguard Flagship Services Description
Replies: 25
Views: 2172

Re: Vague Vanguard Flagship Services Description

jebmke wrote: Thu Dec 17, 2020 10:57 am
Explorer wrote: Wed Dec 16, 2020 7:28 pm They stripped away all the benefits of Flagship... I took my flag and ship to Fidelity.
What benefits were they? I’ve been Flagship for many years and never used them.
Free Turbo-Tax Deluxe Fed and state. This is what I miss the most.
by Prokofiev
Thu Dec 17, 2020 12:34 am
Forum: Personal Investments
Topic: Selling stocks in a low income year
Replies: 6
Views: 775

Re: Selling stocks in a low income year

You cannot take an additional $110k in cap gains and still be in a 0% bracket. The cap gains are added to your taxable income to determine the 12% bracket. For a single person, you could earn a total of about $54k of earned income, div, cap gains and interest. If you have taxable deductions beyond t...
by Prokofiev
Mon Dec 14, 2020 9:47 pm
Forum: Investing - Theory, News & General
Topic: Higher Tax Bracket in Retirement Folks
Replies: 13
Views: 2028

Re: Higher Tax Bracket in Retirement Folks

I'm on track to retire with 90-100% of my salary through pension. Adding on top of that inherited IRA's RMD(Don't know exact amounts) I could easily see retiring with a higher salary, so I have focused solely on Roth and Taxable contributions. Can anyone further into this process shed some light/wi...
by Prokofiev
Sat Dec 12, 2020 12:22 am
Forum: Personal Finance (Not Investing)
Topic: Looking for book recommendation ... how to minimize taxes in retirement
Replies: 15
Views: 1706

Re: Looking for book recommendation ... how to minimize taxes in retirement

You can get great advice here on the forum. But you have to give useful numbers for us to calculate potential savings. Waiting to 70 for SS is probably optimal (maybe not), but you should use the low income years prior to 70 and 72 (RMD) to do Roth conversions. You have money at VG and money as &quo...
by Prokofiev
Wed Dec 09, 2020 3:31 pm
Forum: Investing - Theory, News & General
Topic: [Vanguard 2020 Distribution Estimates Released]
Replies: 50
Views: 5429

Re: Has Vanguard posted any estimates of 4th quarter 2020 dividends?

The closest that I have seen are the capital gains distributions: https://advisors.vanguard.com/iwe/pdf/taxcenter/FAPYEEST.pdf I saw this and see that Institutional Total Market fund has an 8% cap gain distribution? Is this right? Or does the Institutional fund have a different distribution from VT...
by Prokofiev
Thu Nov 26, 2020 2:29 am
Forum: Investing - Theory, News & General
Topic: BlackRock and the $15 trillion fund industry should be broken up, antimonopoly group says - CNN Business article
Replies: 33
Views: 3606

Re: BlackRock and the $15 trillion fund industry should be broken up, antimonopoly group says - CNN Business article

Why do the managing funds decide how the actual stock owners vote? It wouldn’t be difficult to create a system where you log in to cast your vote. And if it’s too much to keep up with, it’d be easy for advisors to make recommendations and do it for you - jest let them know your general priorities. ...
by Prokofiev
Wed Nov 25, 2020 11:35 am
Forum: Investing - Theory, News & General
Topic: BlackRock and the $15 trillion fund industry should be broken up, antimonopoly group says - CNN Business article
Replies: 33
Views: 3606

Re: BlackRock and the $15 trillion fund industry should be broken up, antimonopoly group says - CNN Business article

Why do the managing funds decide how the actual stock owners vote? It wouldn’t be difficult to create a system where you log in to cast your vote. And if it’s too much to keep up with, it’d be easy for advisors to make recommendations and do it for you - jest let them know your general priorities. ...
by Prokofiev
Thu Nov 19, 2020 8:31 pm
Forum: Personal Investments
Topic: Anybody else considering exiting a SCV tilt now that they're above water?
Replies: 43
Views: 3142

Re: Anybody else considering exiting a SCV tilt now that they're above water?

tibbitts wrote: Thu Nov 19, 2020 10:22 am I don't think anybody got into the small value tilt thinking it would necessarily pay off during their lifetime.

I did.
by Prokofiev
Sun Nov 15, 2020 10:28 am
Forum: Personal Investments
Topic: Annunity for more Yield?
Replies: 7
Views: 898

Re: Annunity for more Yield?

On a current thread about what to buy to obtain more yield, hence more income someone recommended a SPIA. I do not understand how buying a SPIA gets one more yield. Am I missing something? Yes, you can definitely get more "yield" from a SPIA . Right now, a 70 yo male can earn over 6.8% wi...
by Prokofiev
Sun Oct 18, 2020 7:44 pm
Forum: Personal Investments
Topic: I bonds - Are they worth it to you?
Replies: 176
Views: 14376

Re: I bonds - Are they worth it to you?

I’m also on the fence, albeit for possibly different reasons. I just have a hard time getting excited for something that has a real yield of 0%. Also, I don’t feel that the inflation index that it uses tracks my personal inflation, meaning it has a negative real yield to me. I’ll be interested to h...
by Prokofiev
Thu Oct 15, 2020 4:02 pm
Forum: Investing - Theory, News & General
Topic: Big Mac Index and Bogleheaders' Thoughts on it
Replies: 41
Views: 3407

Re: Big Mac Index and Bogleheaders' Thoughts on it

My favorite CPI Index is the 2-liter Diet Coke index. Back in 1974, I remember paying .99 for a 2 quart glass bottle of Diet Coke. Yes, sometimes it was on sale for .79 or .89, but the regular price was .99 and I paid that very often. This week, a 2-liter plastic bottle of Diet Coke cost me .99! - 4...
by Prokofiev
Tue Oct 13, 2020 3:34 pm
Forum: Personal Consumer Issues
Topic: Chase Sapphire Reserve
Replies: 85
Views: 12929

Re: Chase Sapphire Reserve

My CSR annual fee of $550 is due later this month and because I didn't travel this year and likely won't be flying until late 2021 at the earliest, the card just isn't worth the AF, so I am considering either downgrading to the Sapphire Preferred ($95 AF) or just cancelling the card outright. I hav...
by Prokofiev
Sat Oct 03, 2020 6:13 pm
Forum: Investing - Theory, News & General
Topic: QE and inflation
Replies: 39
Views: 2002

Re: QE and inflation

I thought we already had high inflation from post 2009 QE. I don't really care if middle of nowhere Delaware had its price of eggs drop. I care about the inflation in the place I reside and historically, everyday goods in my area has far outpaced FED's 2% inflation with one of my favorite treats mo...
by Prokofiev
Fri Oct 02, 2020 10:04 am
Forum: Investing - Theory, News & General
Topic: Vanguard is pushing Personal Advisory Services
Replies: 91
Views: 7717

Re: Vanguard is pushing Personal Advisory Services

As a non-PAS small-time Vanguard fund/ETF owner, I'm glad that they have decoupled advice service from owning a lot of shares in their funds. This way they can charge the cost of providing advice from those clients who use the service instead of charging everyone in the form of management fees. Giv...
by Prokofiev
Thu Oct 01, 2020 11:58 pm
Forum: Investing - Theory, News & General
Topic: Vanguard is pushing Personal Advisory Services
Replies: 91
Views: 7717

Re: Vanguard is pushing Personal Advisory Services

The horror an e-mail, they've gone over to the dark side. Actually I've received 2! calls from my Flagship rep suggesting I get a PAS account (yes, I still have a dedicated rep). He had looked thru my portfolio and noted all my recent trades. He asked that now that I'm retired, don't I have somethi...
by Prokofiev
Tue Sep 29, 2020 10:23 pm
Forum: Investing - Theory, News & General
Topic: Vanguard is pushing Personal Advisory Services
Replies: 91
Views: 7717

Re: Vanguard is pushing Personal Advisory Services

(yes, I still have a dedicated rep). Since most of us no longer have named Flagship reps including many who are above $2-3M, why do you think you still have a named rep? Assets, age, frequent usage, they know you have a lot of assets outside Vanguard still, luck, chance, combination of these? I ask...
by Prokofiev
Tue Sep 29, 2020 9:59 pm
Forum: Investing - Theory, News & General
Topic: Vanguard is pushing Personal Advisory Services
Replies: 91
Views: 7717

Re: Vanguard is pushing Personal Advisory Services

The horror an e-mail, they've gone over to the dark side. Actually I've received 2! calls from my Flagship rep suggesting I get a PAS account (yes, I still have a dedicated rep). He had looked thru my portfolio and noted all my recent trades. He asked that now that I'm retired, don't I have somethi...
by Prokofiev
Wed Aug 26, 2020 3:45 pm
Forum: Personal Consumer Issues
Topic: Chase Sapphire Reserve and DoorDash
Replies: 9
Views: 1180

Re: Chase Sapphire Reserve and DoorDash

Yes. We don’t do delivery either but have used the pick up feature and received the statement credit. I never knew that was an option. Thanks. I don't trust too many delivery services because I never know how long they have been traveling with my food and prefer things to be hot and fresh so I alwa...
by Prokofiev
Tue Aug 25, 2020 10:33 pm
Forum: Personal Consumer Issues
Topic: Chase Sapphire Reserve and DoorDash
Replies: 9
Views: 1180

Re: Chase Sapphire Reserve and DoorDash

We had never used this type of service before, but thought we should at least get our $60 of free food x 2 (2 cards). So now we have spent an additional $400 on home delivery. Too easy and tempting to get food delivered within 20-30min. I actually think it can be a decent value compared to eating-ou...