Search found 4759 matches

by Katietsu
Thu May 06, 2021 12:15 am
Forum: Personal Consumer Issues
Topic: Streaming TV services?
Replies: 7
Views: 819

Re: Streaming TV services?

For your viewing requirements, there should be no need to sign up for a TV package or even a pay streaming service. I do not know anything about the Samsung apps or how easy the it is to use. You can try it. If it is insufficient for your needs, then buy a Roku or Amazon Firestick. They start at aro...
by Katietsu
Wed May 05, 2021 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: credit card for IRS "Get Transcript" authorization
Replies: 2
Views: 260

Re: credit card for IRS "Get Transcript" authorization

On the same page as Get Transcript Online , it shows Get Transcript by Mail . You make the request online and then they send it to your address of record. No credit card or other account required. I am not sure if that is what you were referring to in the last paragraph or not. Pre pandemic, the tra...
by Katietsu
Wed May 05, 2021 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Selling house as part of estate planning
Replies: 28
Views: 1554

Re: Selling house as part of estate planning

I'm in the position of selling an inherited house that nobody in the family is going to use. Not a big deal, but it's a bit of a hassle -- getting rid of stuff, dealing with furniture, etc. -- and it got me to thinking about my own house. I do not think that the key part of the hassle is a own vs r...
by Katietsu
Wed May 05, 2021 6:13 pm
Forum: Personal Investments
Topic: Question on tax loss harvesting
Replies: 13
Views: 910

Re: Question on tax loss harvesting

Why not buy the same amount of the stock on one day, and several days later, sell the original stock. Be sure that when you are selling the original stock to use FIFO ( First in, First Out). That should give you your tax loss and maintain the new shares at your desired lower price. Because this is ...
by Katietsu
Wed May 05, 2021 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value Car Accident Claim
Replies: 3
Views: 337

Re: Diminished Value Car Accident Claim

Google seems to indicate that claims against a third party for diminished value are recognized while first party claims are not in Pennsylvania.
by Katietsu
Wed May 05, 2021 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: There will be a fee of $300 per account for these filings [MLP - unrelated business taxable income]
Replies: 5
Views: 778

Re: There will be a fee of $300 per account for these filings [MLP - unrelated business taxable income]

At least you got yourself in this position. I was quite annoyed when a friend had to pay hundreds of dollars extra for tax prep after her “wealth manager” put $7000 in a MLP. Given an AGI of $19,000 and the availability of the same investment as a mutual fund, did this even meet the suitability crit...
by Katietsu
Wed May 05, 2021 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Need a retirement focused mother's day present for wife!
Replies: 38
Views: 1864

Re: Need a retirement focused mother's day present for wife!

MrCheapo wrote: Wed May 05, 2021 11:53 am Thanks to all.

I was more thinking of a book to prepare your for retirement. Any classics?
You know your wife, but this sounds like a horrible idea as a mother’s day gift. And I am OK with vacuum cleaners as gifts. :D
by Katietsu
Wed May 05, 2021 11:44 am
Forum: Personal Investments
Topic: Best tax strategy for when to sell equities
Replies: 24
Views: 1651

Re: Best tax strategy for when to sell equities

I do not think you have a clear idea of the tax consequences plus IRMAA consequences of your choices even if the tax law stays the same. Also, were all these shares purchased at the same time? Sometimes you can sell 1/2 your shares but only realize 1/4 of the total gain, for instance, if you have mu...
by Katietsu
Wed May 05, 2021 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Can't wrap head around not having cash
Replies: 23
Views: 2438

Re: Can't wrap head around not having cash

The tax rate on the gains from selling equity funds is no higher than the tax rate on interest paid by a savings account. I haven't see people complain too much about a 10%+ return on cash nowadays and lament paying the tax on interest. And often the tax rate on the gains from selling equity funds ...
by Katietsu
Wed May 05, 2021 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Can't wrap head around not having cash
Replies: 23
Views: 2438

Re: Can't wrap head around not having cash

That $1M will be invested based upon my asset allocation of 90/10. You seem to have decided on “your” very aggressive asset allocation and a large mortgage. I would not do these things. Many would. Intellectually, I would know that this was statistically the best way to get to a higher net worth. A...
by Katietsu
Wed May 05, 2021 8:17 am
Forum: Personal Investments
Topic: 403 b Maxed
Replies: 5
Views: 415

Re: 403 b Maxed

I’m my experience, both employer and employee contributions count toward the 19,500 max. This is not true as written. The $19500 is the maximum that an employee can voluntarily withhold. As to the OP’s question, they need to check with HR. Some companies have a true up at the end of the year. Emplo...
by Katietsu
Wed May 05, 2021 1:15 am
Forum: Personal Investments
Topic: Question for Plan Vision customers (account linking)
Replies: 3
Views: 326

Re: Question for Plan Vision customers (account linking)

I can not answer your question. But eMoney is owned by Fidelity. If there was not a way to address your issue that would be quite ironic!
by Katietsu
Tue May 04, 2021 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Excess 2018 Traditional IRA contribution
Replies: 30
Views: 1288

Re: Excess 2018 Traditional IRA contribution

Thank you. I did report all non-deductible contributions since last couple years, including 2018. I have not included the forgotten excess contribution as basis on the 2018 form 8606. Sounds like you are suggesting to amend it . following is the paragraph from publication 590-A for contributions wi...
by Katietsu
Tue May 04, 2021 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Notification On Insurance Cancellation?
Replies: 8
Views: 786

Re: Notification On Insurance Cancellation?

I have had 4 experiences over the years, personally or with a parent, where payment issues led to cancellation notices. There was never a phone call, text or email. All communication by US mail. All timelines as dictated by the laws of the relevant state and type of insurance. My assumption is that ...
by Katietsu
Tue May 04, 2021 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Please explain the concept of imputed rent to me like I'm a 5 year old
Replies: 52
Views: 3954

Re: Please explain the concept of imputed rent to me like I'm a 5 year old

That's exactly what I find hard to understand about considering an imputed rent variable in Buy vs Rent. In your analogy, it is akin to concluding that not only your meal at home costs less overall, but you also save on paying the chef and tipping the server. I think I agree with you here. The way ...
by Katietsu
Tue May 04, 2021 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 vs W2
Replies: 24
Views: 1509

Re: 1099 vs W2

This all sounds pretty involved! Would the right person to consult be a CPA or a tax lawyer? I both want to avoid any legal mistake, and understand the finances as well as possible. (An issue with potential taxation in multiple states also arises here.) I do not think that it is all that involved. ...
by Katietsu
Tue May 04, 2021 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Naive IRS Question
Replies: 8
Views: 742

Re: Naive IRS Question

I do not reinvest dividends in a taxable account because I want to direct them at the underrepresented investment. In other words, I want to use them to rebalance. And, it does also have a benefit of reducing the number of tax lots without reducing the rate of reinvestment.
by Katietsu
Tue May 04, 2021 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Filing state taxes by mail
Replies: 32
Views: 1722

Re: Filing state taxes by mail

If I I submit my return electronically through Turbotax, I don't trust that they don't keep a copy somewhere in their cloud/backup that could be hacked, or just used for nefarious purposes by someone from Turbotax (despite whatever assurances to the contrary they may give). Honestly, this risk does...
by Katietsu
Mon May 03, 2021 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: end-of-life values statement
Replies: 22
Views: 2784

Re: end-of-life values statement

I am surprised that you said it would be incorporated into your will. Does a will have any meaning prior to death? I am thinking that it is just part of an estate planning package, not actually part of a will? Personally, I would not want it part of my official end of life directives unless I did n...
by Katietsu
Mon May 03, 2021 9:26 pm
Forum: Personal Investments
Topic: Avoiding capital gains tax on reinvestments
Replies: 12
Views: 877

Re: Avoiding capital gains tax on reinvestments

Thanks for the reply. I’m not talking so much about reinvesting dividends but instead investing the capital gains from the growth fund and putting it into another fund instead of having it reinvested into the growth fund. It doesn’t seem like I can do that without first paying capital gains tax on ...
by Katietsu
Mon May 03, 2021 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: end-of-life values statement
Replies: 22
Views: 2784

Re: end-of-life values statement

I think it is wonderful that you were able to write and prepare such a document. I am surprised that you said it would be incorporated into your will. Based on my experience with end of life decision making, I would expect this to be a document discussed and provided to your medical POA’s. I would t...
by Katietsu
Mon May 03, 2021 5:02 pm
Forum: Personal Investments
Topic: I sold off all my (modest) crypto holdings this morning
Replies: 85
Views: 9133

Re: I sold off all my (modest) cryto holdings this morning

My mom told me teenagers that work with her are buying crypto. Mostly first time foray into stocks for these youngsters. Quote that comes to mind: "Somebody gonna get hurt, real bad..." My best friend is an investment banker. He recently was asked by a neighbor who teaches high school eco...
by Katietsu
Mon May 03, 2021 4:17 pm
Forum: Personal Consumer Issues
Topic: Coronavirus (Consumer Issues) How you are preparing?
Replies: 1800
Views: 152560

Re: Coronavirus (Consumer Issues) How you are preparing?

I love my masks! We went from 40 degree last March to triple digit heat index in Summer 2020. It went down to single digit temperature in Feb 2021, and then it starts getting back up to 90 heat index now in May. Do you still love your masks in 100 degree weather? :D C'mon and think about this. Very...
by Katietsu
Mon May 03, 2021 3:36 pm
Forum: Personal Investments
Topic: "Spousal IRA" limits for higher income
Replies: 8
Views: 976

Re: "Spousal IRA" limits for higher income

Thank you both. The bottom line, I think, is that whatever my maximum is for a Roth IRA is also the maximum for the spousal IRA. Yes. But, your wife can also make a partial contribution to a traditional IRA and deduct it. This is in addition to the Roth contribution for the wife. Whether or not the...
by Katietsu
Mon May 03, 2021 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Sending money to mentally unstable relative without revealing my home address
Replies: 39
Views: 3442

Re: Sending money to mentally unstable relative without revealing my home address

I do not believe that my bank information and home address is ever revealed to anyone that I send money to. I know that if I issue a check using bill pay, the check uses a transaction number not my information. My name is on the check but not my address. The bank’s return address is on the envelope ...
by Katietsu
Mon May 03, 2021 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: My Dear Friend Forgot to Apply for Social Security
Replies: 18
Views: 2904

Re: My Dear Friend Forgot to Apply for Social Security

DF's highly compensated tax advisor and investment advisor never paused to wonder why SE taxes were going out, but no SS retirement benefits coming in. DF is reasonably comfortable, and this income would have raised charitable contributions, not provided for foregone necessities. But still. I am bi...
by Katietsu
Mon May 03, 2021 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Excess 2018 Traditional IRA contribution
Replies: 30
Views: 1288

Re: Excess 2018 Traditional IRA contribution

Wow. Vanguard is right. I did not pick up on the non deductible part of the contribution. I wonder if you can apply the excess to the 2021 contribution. I know this is a solution to avoiding the double taxation when this is discovered a year after the excess contribution has been left in the IRA.
by Katietsu
Mon May 03, 2021 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Married Filing Separately & A Roth IRA Mistake
Replies: 82
Views: 4114

Re: Married Filing Separately & A Roth IRA Mistake

It may be more advantageous for my partner to do the full conversion of her Traditional IRA holdings, they are lighter than mine. $2000-ish compared to $13,000. Just convert to Roth and pay the tax. Doing a rollover for $2k is just not worth it. I am back for more questions... Can you please give m...
by Katietsu
Mon May 03, 2021 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Excess IRA contribution converted to Roth
Replies: 3
Views: 299

Re: Excess IRA contribution converted to Roth

I asked a question last year. The excess contribution was caused by divorce instead of Covid. The contribution was for 2019 not 2020. And the traditional IRA contribution would have be non deductible. However, I believe the core issue is the same. There was an excess contribution due to not enough ...
by Katietsu
Mon May 03, 2021 7:03 am
Forum: Personal Investments
Topic: Shifting Towards Bonds - but in 401k
Replies: 9
Views: 746

Re: Shifting Towards Bonds - but in 401k

Is this a stupid approach because the 401k and Roth 401k are the last assets I would actually withdraw, or would they help to provide some ballast in case of an economic downturn that would actually be useful? Thoughts? I think you are linking asset allocation and asset location as if they can not ...
by Katietsu
Sun May 02, 2021 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Excess IRA contribution converted to Roth
Replies: 3
Views: 299

Re: Excess IRA contribution converted to Roth

Too bad someone have her advice to use a two step contribute and convert if there was no need for her to do so. A direct excess Roth contribution would have been much easier to correct. I asked a question last year. The excess contribution was caused by divorce instead of Covid. The contribution was...
by Katietsu
Sun May 02, 2021 8:40 pm
Forum: Personal Consumer Issues
Topic: Ally extended warranty worth it?
Replies: 14
Views: 1251

Re: Ally extended warranty worth it?

You do not need to buy it now. It will provide no protection until the manufacturer’s warranty expires. Find out the rules for purchasing the Mopar Warranty. Often you can purchase right up until the day the manufacturer’s warranty at no extra cost. Maybe by then you do not even own the car anymore ...
by Katietsu
Sun May 02, 2021 10:16 am
Forum: Personal Finance (Not Investing)
Topic: How to handle when IRS wrongly adjusts 1040
Replies: 14
Views: 1686

Re: How to handle when IRS wrongly adjusts 1040

It seems like you have not received any communication from the IRS yet, just a reduced refund? Is this correct? If so, I know you are anxious, but, I would forget about it for a couple of weeks. You will probably get a letter with more details. For instance, I have heard, anecdotally, of people bein...
by Katietsu
Sat May 01, 2021 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: When to Take Retention Bonus
Replies: 9
Views: 1219

Re: When to Take Retention Bonus

If you have the time and ability, I would do a tax return 3 ways. Base return with no bonus. Base return plus $10k bonus. Base return plus $30k bonus. Compare (scenario 3-scenario 1) with (scenario 2-scenario 1)*3. For instance, over $250,000, you may run into the NIIT tax. Or you could run into an ...
by Katietsu
Sat May 01, 2021 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Estate planning: Choosing guardians - friend or family member?
Replies: 13
Views: 935

Re: Estate planning: Choosing guardians - friend or family member?

A family member is probably more likely to help the kids maintain a relationship with the rest of your family. Asking someone to be guardian with a separate trustee seems like assigning the responsibility but not the authority to do a job. Ideally, the person you trust with your kids can be trusted...
by Katietsu
Sat May 01, 2021 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Have Credit Card Limits Dropped?
Replies: 44
Views: 4053

Re: Have Credit Card Limits Dropped?

Look at Doctor of Credit. No experience, but, if I were guessing on the best way to proceed.... Find a card offer with a good sign on bonus for spending $4000 or so in the first few months. You will get the sign on bonus. You will be in the tier of cards where higher spending and therefore higher cr...
by Katietsu
Sat May 01, 2021 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford a $1.3MM house?
Replies: 79
Views: 8365

Re: Can we afford a $1.3MM house?

I wonder if you are taking into account all of the time and energy commitments that you will be adding? And the possible increased costs because you have so much less time? Young children, a large house with the additional maintenance of a large yard, pool, etc, and, possibly, a significant commute?...
by Katietsu
Fri Apr 30, 2021 10:41 pm
Forum: Personal Investments
Topic: Job offer with major increase in salary
Replies: 17
Views: 2017

Re: Job offer with major increase in salary

Have an emergency fund of ~30k with 150k in 401k currently. I agree very much that having more money in a taxable account is a good problem to have. Sounds like a three funds portfolio is a better option than some sort of "smart" allocation to reduce taxes? If you have been making $300 k ...
by Katietsu
Fri Apr 30, 2021 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Excess 2018 Traditional IRA contribution
Replies: 30
Views: 1288

Re: Excess 2018 Traditional IRA contribution

My skimming suggests excess contributions not removed by tax filing result in 6% penalty per year, whether deducted or not. Earnings removed are subject to income tax and an 10% early withdrawal penalty. How to treat withdrawn interest or other income. You must include in your gross income the inte...
by Katietsu
Fri Apr 30, 2021 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Excess 2018 Traditional IRA contribution
Replies: 30
Views: 1288

Re: Excess 2018 Traditional IRA contribution

My skimming suggests excess contributions not removed by tax filing result in 6% penalty per year, whether deducted or not. Earnings removed are subject to income tax and an 10% early withdrawal penalty. How to treat withdrawn interest or other income. You must include in your gross income the inte...
by Katietsu
Fri Apr 30, 2021 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Excess 2018 Traditional IRA contribution
Replies: 30
Views: 1288

Re: Excess 2018 Traditional IRA contribution

Thank you. Not sure if I must go back and amend the 2018 tax return or I should just amend and report it all on the 2020 tax return. You need to amend 2018 and send a check. Amend 2019 and send a check. 2020 and send a check. This assumes that you contributed each year. If you didn’t contribute in ...
by Katietsu
Fri Apr 30, 2021 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Ok to contact more than one State Farm Rep?
Replies: 5
Views: 400

Re: Ok to contact more than one State Farm Rep?

Did you get a quote with an agent that you would prefer not to work with? Then I would just meet with a second agent. I would be upfront. Ask them to if they could give any coverage recommendations, tell them you would like to work with someone closer to you, someone different than your father, or w...
by Katietsu
Thu Apr 29, 2021 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Married Filing Separately & A Roth IRA Mistake
Replies: 82
Views: 4114

Re: Married Filing Separately & A Roth IRA Mistake

Do you plan to contribute to either one of these accounts in the future? If not, I would just go with the cheapest. This appears to be Voya. The 457 has an advantage of penalty free withdrawals after leaving the employer regardless of age. On other words, the funds can be withdrawn before 59.5 years...
by Katietsu
Thu Apr 29, 2021 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Married Filing Separately & A Roth IRA Mistake
Replies: 82
Views: 4114

Re: Married Filing Separately & A Roth IRA Mistake

With an income of $200k, I would look further into rolling your traditional IRA’s into your workplace plans. I honestly was against this when I thought this was a one time thing. But it seems that you may run into the income limits for Roth contributions again in the future.
by Katietsu
Thu Apr 29, 2021 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirement and ACA insurance costs? 60-65 yo.
Replies: 26
Views: 2905

Re: Early Retirement and ACA insurance costs? 60-65 yo.

Also remember that if your income is s low enough for cost sharing to kick in, the deductibles and out of pocket listed for a given plan will not apply to you. Consider what you would do if an acceptable ACA plan was no longer available in your area. Go back to work? Move? Find a plan off the exchan...
by Katietsu
Thu Apr 29, 2021 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking Guidance for Tenant's claim for Damages
Replies: 78
Views: 6357

Re: Seeking Guidance for Tenant's claim for Damages

Also, be cautious about giving your mother advice based on faulty assumptions that are faulty because your mother has not told you the whole story.
by Katietsu
Thu Apr 29, 2021 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking Guidance for Tenant's claim for Damages
Replies: 78
Views: 6357

Re: Seeking Guidance for Tenant's claim for Damages

RickBoglehead wrote: Thu Apr 29, 2021 11:51 am OP has been told several times to contact their insurance company NOW. Today. Immediately.
And told by several others NOT to contact the company insurance company until AFTER discussing with a lawyer. Definitely, two sides in the responses.
by Katietsu
Thu Apr 29, 2021 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Alternative to Boa/Merrill edge
Replies: 17
Views: 1827

Re: Alternative to Boa/Merrill edge

I have credit cards from multiple issuers. I have had to “approve” every technology purchase made online for over a decade. Chase denied a $400 laptop purchase 3 times before I realized the texts were going to a phone with notifications off. Reading one of the other posts, I wonder if my denials are...
by Katietsu
Wed Apr 28, 2021 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: Funeral expenses-10K fair?
Replies: 25
Views: 2946

Re: Funeral expenses-10K fair?

In my experience, there greatest variation in cost depends on your choice of the casket and burial vault.
by Katietsu
Wed Apr 28, 2021 2:07 pm
Forum: Personal Consumer Issues
Topic: Ordering "funeral flowers" for colleague's late husband
Replies: 17
Views: 1661

Re: Ordering "funeral flowers" for colleague's late husband

I volunteer with a group that provides ceremonial services at funerals and thought I would add that most funeral homes will be equipped to display both vases and sprays properly. Also, being there after a funeral service is over and everyone has left, few people take any flowers. Generally the fami...