Search found 2664 matches

by ralph124cf
Thu Apr 08, 2021 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Leak under house, damage to floors, and insurance questions
Replies: 13
Views: 877

Re: Leak under house, damage to floors, and insurance questions

Consider your deductible. If you have $1,000 deductible, claiming will almost certainly be worthwhile. If you have $10,000 deductible, it may not be worthwhile.

Ralph
by ralph124cf
Wed Apr 07, 2021 4:30 pm
Forum: Personal Investments
Topic: Pension curveball (new advisor, new recommendation)
Replies: 4
Views: 717

Re: Pension curveball (new advisor, new recommendation)

He said there more than a few “Stable Value funds out there offering 5 and 6% rates”. Stop there and ask him, "For example?" Let us know the response.... And don't let him show you a backtest for the last ten or twenty years. There are many bond-like investments that have returned 6% or b...
by ralph124cf
Wed Apr 07, 2021 3:45 pm
Forum: Personal Consumer Issues
Topic: No foreign fee, reimburse atm fee cards besides Schwab?
Replies: 33
Views: 2024

Re: No foreign fee, reimburse atm fee cards besides Schwab?

The absolute best debit/credit card for foreign use is the HSBC Premier card. A lot of cards advertise no foreign transaction fees and ATM fee reimbursement. What they don't tell you is that you are probably not getting the best exchange rate. Try this. Make a purchase overseas and immediately retur...
by ralph124cf
Mon Apr 05, 2021 5:48 pm
Forum: Personal Consumer Issues
Topic: Deck Levelling- Potential Foundation issues
Replies: 46
Views: 2241

Re: Deck Levelling- Potential Foundation issues

It looks like the deck is quite a bit newer than the house.

If built by a handyman/homeowner, I am not surprised to se this type of mistake.

Unfortunately, I cannot think of any reasonably priced fix.

Ralph
by ralph124cf
Sun Apr 04, 2021 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance Recommendations
Replies: 17
Views: 1296

Re: Homeowners Insurance Recommendations

As a general rule, the condo building is covered by a homeowners association policy that you are paying for with your homeowner's dues. There is very little of the dwelling that you would be responsible for. Check your association documents. You are very light on liability coverage. Ralph Yes, my c...
by ralph124cf
Sun Apr 04, 2021 12:34 pm
Forum: Personal Investments
Topic: Roth Conversion: small or large - which makes sense?
Replies: 8
Views: 933

Re: Roth Conversion: small or large - which makes sense?

Sahara wrote: Sun Apr 04, 2021 11:32 am Another constraint you want to include is the IRMMA. Your Medicare Premiums at age 65 will be affected if you cross a threshold at 63.
The lowest income to trigger IRMAA is $88k for single or $176 for MFJ. Based on reported income, IRMAA will not be a factor for the OP.

Ralph
by ralph124cf
Sat Apr 03, 2021 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: TAX payment/Return Question? - S Corporation Owners Must Take Reasonable W-2 Compensation
Replies: 4
Views: 375

Re: TAX payment/Return Question? - S Corporation Owners Must Take Reasonable W-2 Compensation

When you take the W-2 salary, you have to pay the FICA and withholding tax. Many S-Corp. owners do not take salary frequently or evenly. My wife takes one lump sum salary check in December, and pays FICA and withholding via EFTPS the same day.

Ralph
by ralph124cf
Sat Apr 03, 2021 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowners Insurance Recommendations
Replies: 17
Views: 1296

Re: Homeowners Insurance Recommendations

As a general rule, the condo building is covered by a homeowners association policy that you are paying for with your homeowner's dues.

There is very little of the dwelling that you would be responsible for. Check your association documents.

You are very light on liability coverage.

Ralph
by ralph124cf
Sat Apr 03, 2021 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: A true zero wire transfer fee option
Replies: 22
Views: 1842

Re: A true zero wire transfer fee option

beachtech wrote: Sat Apr 03, 2021 4:41 pm Schwab does 3 free domestic wires per quarter if your balance is over $100k. I’ve used it successfully.
Does the $100k have to be in the Schwab checking account, or can it be in a Schwab Money Market?

Thanks,

Ralph
by ralph124cf
Sat Apr 03, 2021 7:17 pm
Forum: Investing - Theory, News & General
Topic: Real Estate (TIAA vs. Fundrise, DiversyFund, etc.)
Replies: 33
Views: 2087

Re: Real Estate (TIAA vs. Fundrise, DiversyFund, etc.)

I had TIAA TREA in a "set & forget" plan until I realized their gargantuan ER fees. You can't compare the ER of this fund to other mutual funds. You are getting a lot for that fee - basically management of your properties, and liquidity guarantee. A REIT never has an expense ratio. It...
by ralph124cf
Tue Mar 30, 2021 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Services Out of State (Origin vs Destination Sales Taxes)
Replies: 2
Views: 150

Re: Selling Services Out of State (Origin vs Destination Sales Taxes)

You said Sales Tax in your title. Are you sure that your question is not actually about Income Tax? Also, it may make a difference if you are an individual providing these services versus an LLC or S-Corp. Depending on the expected income and the hassle factor imposed by New Mexico on businesses, it...
by ralph124cf
Tue Mar 30, 2021 3:09 pm
Forum: Personal Investments
Topic: Are these 401(k) fees normal?
Replies: 25
Views: 2197

Re: Are these 401(k) fees normal?

I think that your plan to rollover to Fidelity (or Schwab, or Vanguard) is a great idea.

Ralph
by ralph124cf
Tue Mar 30, 2021 1:07 pm
Forum: Personal Consumer Issues
Topic: Battling basement humidity
Replies: 26
Views: 1603

Re: Battling basement humidity

You don't say, but do you have a sump pump? Based on what you said about the lake nearby, your basement floor is probably below the water table at least part of the year. If you have no sump pump, hydrostatic pressure will constantly be attempting to force water thru the concrete walls and floor. A ...
by ralph124cf
Tue Mar 16, 2021 3:41 pm
Forum: Personal Consumer Issues
Topic: What are your travel plans in 2021 and beyond?
Replies: 149
Views: 9571

Re: What are your travel plans in 2021 and beyond?

We had a Smithsonian cruise around Iceland scheduled for July 2020. Cancelled, of course. Rescheduled for July 2021. Hoping it works. Hoping to get a train from Anchorage to Denali in September. We just made reservations for a November Paddlewheel trip up and down the Mississippi. May or September 2...
by ralph124cf
Thu Mar 11, 2021 1:32 pm
Forum: Personal Investments
Topic: excess cash - cash-value life insurance?
Replies: 14
Views: 750

Re: excess cash - cash-value life insurance?

Insurance salesmen lie. Once you accept that, everything they say makes sense.

Ralph
by ralph124cf
Mon Mar 08, 2021 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: LTC insurance -- CNA proposes options to lower premium
Replies: 12
Views: 808

Re: LTC insurance -- CNA proposes options to lower premium

If he were 60 years old, I would get the longest possible elimination period. At 90, the zero elimination period is a great "bet". At 90, the inflation adjustment is unlikely to matter much. How much could be saved by just eliminating the inflation adjustment? I would not consider reducing...
by ralph124cf
Sun Mar 07, 2021 3:23 pm
Forum: Personal Investments
Topic: Using Dividends as another income source
Replies: 27
Views: 2755

Re: Using Dividends as another income source

I am opposed to automatic reinvestment of dividends in the same stock, because this creates multiple small tax lots which can complicate your tax filing. This is different than accumulating, say $10,000 from dividends in your MM fund from the dividends and then reinvesting in a stock, ETF, or mutual...
by ralph124cf
Mon Feb 22, 2021 10:25 pm
Forum: Personal Consumer Issues
Topic: bird's eye camera on car worth it?
Replies: 27
Views: 2713

Re: bird's eye camera on car worth it?

I have this feature on my 2019 Lincoln, BUT, it is only active when in reverse gear. I frequently find myself choosing reverse gear only for the purpose of checking the camera.

Ralph
by ralph124cf
Sun Feb 21, 2021 6:25 pm
Forum: Investing - Theory, News & General
Topic: What's Wrong with Annuities?
Replies: 150
Views: 9757

Re: What's Wrong with Annuities?

Here are the numbers from immediateannuities.com: $500,000 to invest: Life: $2,392 monthly Life & 10 years certain: $2,328 monthly 5 year period certain: $8,266 monthly Why the big jump for 5 year period certain? Because it does not provide lifetime income but only 5 years? Am I reading somethi...
by ralph124cf
Tue Feb 16, 2021 1:02 pm
Forum: Personal Consumer Issues
Topic: Schwab website down?
Replies: 7
Views: 720

Schwab website down?

I am unable to sign in to my Schwab account. The website seems unresponsive. Anybody else?

Ralph
by ralph124cf
Fri Feb 05, 2021 3:34 pm
Forum: Personal Investments
Topic: Non-Qualified Variable Annuity Tax Implications
Replies: 11
Views: 579

Re: Non-Qualified Variable Annuity Tax Implications

If FIL is in a nursing home, and does not have a very large LTC policy, then nursing home expenses are deductible. This may make much of the gain from the annuities essentially tax free. IRMAA could still be a problem, as that considers MAGI and not taxable income.

Ralph
by ralph124cf
Fri Feb 05, 2021 3:05 pm
Forum: Personal Consumer Issues
Topic: Building our retirement home
Replies: 102
Views: 7154

Re: Building our retirement home

One comment ref attached versus detached garages. You are not limited to one garage.

A house near me has a four car attached garage and across the paved courtyard another four car detached garage with maid quarters on the second floor.

Ralph
by ralph124cf
Sun Jan 31, 2021 10:18 pm
Forum: Personal Finance (Not Investing)
Topic: Home/Auto Insurance with a personal umbrella
Replies: 11
Views: 1064

Re: Home/Auto Insurance with a personal umbrella

I see that the State Farm quote is for only $100K of personal liability on the homeowner's policy.

I would bet that your umbrella policy requires a higher limit on your personal liability.

My umbrella policy requires $500K liability limit on my homeowner's policy.

Ralph
by ralph124cf
Fri Jan 29, 2021 1:44 pm
Forum: Personal Consumer Issues
Topic: For an S Corp, how are the profits taxed?
Replies: 4
Views: 416

Re: For an S Corp, how are the profits taxed?

After employee salaries, employer taxes, employer 401k matching and other expenses, profit is determined. company tax return is to be filed by mar 15, a month before individual tax return. After QBI deductions and such a K1 is issued. This K1 value is then entered while you are preparing your indiv...
by ralph124cf
Mon Jan 25, 2021 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: S-corp Owner Expense Reimbursement Without Payroll
Replies: 7
Views: 527

Re: S-corp Owner Expense Reimbursement Without Payroll

Compensation does not matter. You do not have a home office, so you cannot take that deduction. If you really want to, you can rent a portion of your home to your corporation, being sure to obey all the schedule E IRS rules. I have found, after doing this, that it is not worth it. You CAN have your ...
by ralph124cf
Thu Jan 21, 2021 8:27 pm
Forum: Personal Investments
Topic: Decrease Taxable Income With Defined Benefit Plan
Replies: 12
Views: 842

Re: Decrease Taxable Income With Defined Benefit Plan

My spouse had a defined benefit plan for her wholly owned S corp., with me as an employee. The higher your W-2 income from the owned business, and the older you are, the more you can put in. Set up fees 25 years ago, in California, were about $3,000, with ongoing actuary filing fees of $2,000 per ye...
by ralph124cf
Wed Jan 20, 2021 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Helping MIL with Medicare
Replies: 19
Views: 1379

Re: Helping MIL with Medicare

Many employer health plans simply ASSUME that medicare is primary insurance, and the company plan is secondary. There are exceptions. Check with HR to be sure that she will remain covered by the company plan as primary for outpatient and drugs. There is a lifelong penalty if you do not have creditab...
by ralph124cf
Wed Jan 20, 2021 3:52 pm
Forum: Personal Consumer Issues
Topic: Replace cheap flooring?
Replies: 30
Views: 1901

Re: Replace cheap flooring?

Consider installing upgraded base and door molding at the same time. Builders standard base molding tends to be small. Adding upgraded base molding can really make that new floor pop.

Ralph
by ralph124cf
Tue Jan 19, 2021 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Sole proprietor. Generating 1099-misc for my income
Replies: 26
Views: 1592

Re: Sole proprietor. Generating 1099-misc for my income

I Generally speaking, businesses, including sole proprietorships, do not get 1099s. I'm sure that you do not issue a 1099 to your plumber or painter. Ralph I am not sure what you mean here. Sole proprietors do receive 1099’s frequently. And if you hire a guy to paint your business or your rental, y...
by ralph124cf
Tue Jan 19, 2021 5:19 pm
Forum: Personal Investments
Topic: Edward Jones/Tax Free Income
Replies: 31
Views: 2441

Re: Edward Jones/Tax Free Income

arcticpineapplecorp. wrote: Tue Jan 19, 2021 4:40 pm
I pressed him for details, but he was a bit sketchy - not sure if he entirely understands it himself.
a fool and his money...
A fool and his money are good for business.

Ralph
by ralph124cf
Tue Jan 19, 2021 4:35 pm
Forum: Personal Consumer Issues
Topic: Back up sump pump battery
Replies: 7
Views: 596

Re: Back up sump pump battery

To make this a true backup system, it is a good idea to run a separate electrical circuit for the battery charger. That way, if the circuit breaker for the main pump trips, the battery charger will stay powered and pumping.

Ralph
by ralph124cf
Tue Jan 19, 2021 1:04 am
Forum: Personal Finance (Not Investing)
Topic: Sole proprietor. Generating 1099-misc for my income
Replies: 26
Views: 1592

Re: Sole proprietor. Generating 1099-misc for my income

I understand how your relationship with ABC needs to generate a 1099. In your freelancing work, billed thru ABC, does ABC get the checks and issue you one check a month for the freelance work, or do you get the checks from the patients/insurance companies? How do you compensate ABC for the work of b...
by ralph124cf
Mon Jan 18, 2021 8:39 pm
Forum: Investing - Theory, News & General
Topic: When active fund management makes sense to you?
Replies: 79
Views: 5347

Re: When active fund management makes sense to you?

The only place that I use an actively managed fund is for gold mine stocks. I do not want on index of gold mine stocks. Gold mine fraud goes back to ancient Egypt. You cannot do a financial analysis of a gold mine company. The fund manager has to send a mining engineer and an accountant to the gold ...
by ralph124cf
Mon Jan 18, 2021 5:37 pm
Forum: Personal Investments
Topic: Still max 401k even if no income tax liability?
Replies: 31
Views: 2291

Re: Still max 401k even if no income tax liability?

Do you have a traditional (tax deductible) IRA. If so, you can convert the tIRA money to Roth, creating phantom taxable income which could be offset by the 401(k) contributions.

It all depends on what your savings and spending goals are.

Ralph
by ralph124cf
Tue Jan 12, 2021 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: QCD requirements and tax advantages
Replies: 29
Views: 1807

QCD requirements and tax advantages

Prior to the recent law changes for RMDs from 70.5 to 72, the 70.5 was also the minimum age for QCDs. Has this remained at 70.5, or has it also changed to 72? I understand that the QCD amount is not included in Income for Federal income tax purposes, but are there any states that tax QCDs as income?...
by ralph124cf
Mon Jan 11, 2021 8:52 am
Forum: Personal Finance (Not Investing)
Topic: CA Landlord - how to deal with self-employed tenant prospects?
Replies: 19
Views: 2004

Re: CA Landlord - how to deal with self-employed tenant prospects?

Many rental laws are city specific. Check with a LOCAL real estate attorney about what you can or cannot do, and what you can or cannot ask.

Ralph
by ralph124cf
Sun Jan 10, 2021 12:37 pm
Forum: Personal Investments
Topic: Some portion of taxable not part of my retirement allocation? Would it make sense?
Replies: 11
Views: 684

Re: Some portion of taxable not part of my retirement allocation? Would it make sense?

I will try to answer the questioned in the title of the thread, even though my answer does not appear to apply to your situation. A reason to keep some portion of your taxable account at a separate asset allocation would be identifiable, short term spending needs. For instance, if you have three chi...
by ralph124cf
Sun Jan 10, 2021 10:45 am
Forum: Personal Investments
Topic: Short term bond options
Replies: 8
Views: 793

Re: Short term bond options

With yields so close to zero, why not just use something like a money market fund? I think that Fidelity has something like a treasury sweep money market fund for cash in your account.

Ralph
by ralph124cf
Sat Jan 02, 2021 11:18 pm
Forum: Investing - Theory, News & General
Topic: Selling Amid a Buying Stampede
Replies: 24
Views: 2821

Re: Selling Amid a Buying Stampede

I think what you want is a trailing stop order. You set the sale order at a percentage or dollar amount under the current price, and if the price continues to rise, then the sale order price is adjusted up. If the price goes down by the specified amount, then the order becomes a market sell order. T...
by ralph124cf
Thu Dec 31, 2020 7:11 pm
Forum: Investing - Theory, News & General
Topic: RMD for 2021 and CARES act
Replies: 5
Views: 834

Re: RMD for 2021 and CARES act

Rather than selling and leaving the RMD in a MM in the IRA, planning to leave the money in the IRA to accumulate if another CARES act is passed, I recommend converting an amount equal to your normal RMD to Roth. This will keep your taxable income constant. A constant income (managed to max out at ju...
by ralph124cf
Sat Dec 26, 2020 5:08 pm
Forum: Personal Consumer Issues
Topic: Will IRS make paper tax forms available?
Replies: 32
Views: 3690

Re: Will IRS make paper tax forms available?

The only things you need paper for is issuing W-2 and 1099 forms to people that have done work for your business.

These can be ordered free from the IRS if you do so far enough in advance, if you wait till the deadline you may have to buy a packet of them from an office supply store.

Ralph
by ralph124cf
Thu Dec 24, 2020 5:10 pm
Forum: Personal Investments
Topic: Experiences annuitizing all of a TIAA account?
Replies: 14
Views: 1287

Re: Experiences annuitizing all of a TIAA account?

Since you are choosing a 100% contingent annuity, why do you need the ten year certain part? This comes at a significant cost.

Ralph
by ralph124cf
Wed Dec 23, 2020 5:12 pm
Forum: Investing - Theory, News & General
Topic: Impact of Windfall Elimination Provision on Social Security
Replies: 13
Views: 1732

Re: Impact of Windfall Elimination Provision on Social Security

If you are still working, and accruing a higher pension, your SS may continue to decrease. If your pension has a COLA, your pension COLA may or may not increase more than the SS COLA.

Ralph
by ralph124cf
Wed Dec 23, 2020 2:01 pm
Forum: Non-US Investing
Topic: Should we seriously reconsider the traditional view on usefullness of bonds? [Australia]
Replies: 32
Views: 2599

Re: Should we seriously reconsider the traditional view on usefullness of bonds?

I own no bonds. I am currently 60/40 stock to fixed income. Note that 0% is a fixed rate. All of my fixed rate income is short term CDs, Money Markets, and high? yield savings accounts. I am quite concerned about an unexpected jump in interest rates. Staying at zero yield is a negligible cost at thi...
by ralph124cf
Tue Dec 22, 2020 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: What can we do for Spouse's Retirement Contributions?
Replies: 6
Views: 765

Re: What can we do for Spouse's Retirement Contributions?

What are your approximate ages, and balances in tax deferred accounts. What is your hoped for retirement age? Before looking for more tax deferred, or Roth, it would be helpful for you to project what your tax deferred balance is likely to be at your desired retirement age with your current 401k ad...
by ralph124cf
Tue Dec 22, 2020 4:40 am
Forum: Personal Finance (Not Investing)
Topic: unemployment fraud?
Replies: 9
Views: 1428

unemployment fraud?

I got a letter and a debit card from the unemployment office today. It said that I was being awarded unemployment benefits based on income from UBER. I have never worked for UBER, and have been fully retired for six years. Any ideas? I will try the phone number, but my state has been having several ...
by ralph124cf
Fri Dec 11, 2020 2:46 pm
Forum: Personal Investments
Topic: Almost Over-the-Hill Portfolio Review & Advice
Replies: 5
Views: 627

Re: Almost Over-the-Hill Portfolio Review & Advice

Federal income tax rates for families earning $100k-300k are now the lowest they have been in the last 100 years. I would stuff everything you can into your Roths by converting your IRAs up to the top of the 24% FIT bracket. That is what I have been doing for the past couple of years. Note: This adv...
by ralph124cf
Wed Dec 09, 2020 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Business Travel and States Taxes - what "income" is taxed?
Replies: 10
Views: 731

Re: Business Travel and States Taxes - what "income" is taxed?

It sounds like you are a W-2 employee, not a consultant or independent contractor. Just follow your W-2(s). If your W-2 only lists one state, then that is what you file. If you get multiple W-2s for different states, then that is how you file. Your employer is responsible for compliance for this. Ra...
by ralph124cf
Wed Dec 09, 2020 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Enrollment
Replies: 5
Views: 745

Re: Social Security Enrollment

Don't be surprised if you receive two payments a month for some months in the future, one for the spousal, one for her own record. SS will eventually catch the discrepancy, and demand repayment. I recommend that you just ignore the repayment demand, and let SS take the money from the checks issued o...