Search found 3568 matches

by tomd37
Sat Apr 17, 2021 9:56 pm
Forum: Personal Investments
Topic: Need Help with Investment Plan - Close to Retirement
Replies: 10
Views: 1201

Re: Need Help with Investment Plan - Close to Retirement

I've been on this forum and its predecessor for twenty-five years now and I've always seen comments about making your investment portfolio as simple as possible. Have also seen many comments over the years that allocations of less than ten percent really don't have much of an impact overall. I would...
by tomd37
Wed Apr 07, 2021 4:17 pm
Forum: Personal Consumer Issues
Topic: Gmail asking for birthdate
Replies: 14
Views: 1674

Re: Gmail asking for birthdate

Give them February 29th of a non leap year. :twisted:
by tomd37
Wed Apr 07, 2021 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: EIP1 & EIP2 Payment Reconciliation
Replies: 2
Views: 174

Re: EIP1 & EIP2 Payment Reconciliation

Thank you HueyLD. There is nothing like getting the wording straight from the proper source. 8-)
by tomd37
Wed Apr 07, 2021 11:18 am
Forum: Personal Finance (Not Investing)
Topic: EIP1 & EIP2 Payment Reconciliation
Replies: 2
Views: 174

EIP1 & EIP2 Payment Reconciliation

Had a question posed to me by a neighbor this morning to which I could not answer definitively. Neighbor is filing 2020 federal tax return using MFJ filing status. Her husband passed away in October 2020. They had received EIP1 in amount of $1200 per person. She received EIP2 in amount of $600 and n...
by tomd37
Mon Apr 05, 2021 9:42 am
Forum: Investing - Theory, News & General
Topic: Monthly or Yearly Withdrawals in Retirement
Replies: 39
Views: 3968

Re: Monthly or Yearly Withdrawals in Retirement

For those of us/you of RMD and QCD age and who want to donate to qualified charitable organizations while at the same time want to reduce their taxable income, you might want to consider the timing of your RMD in relation to the timing of your QCD. With the relatively new higher standard deduction m...
by tomd37
Fri Apr 02, 2021 3:53 pm
Forum: Personal Investments
Topic: Help me help my parents
Replies: 12
Views: 1337

Re: Help me help my parents

OP - Are your parents really receiving Supplemental Security Income (SSI) or are they receiving regular Social Security payments based on their work history? They are two separate programs and I suspect they are receiving the latter. It might be worthwhile for you to look into SS benefits and find o...
by tomd37
Thu Apr 01, 2021 8:20 pm
Forum: Personal Consumer Issues
Topic: Storage Unit Rent Increase
Replies: 32
Views: 2848

Re: Storage Unit Rent Increase

Keep renting those storage units! Those type companies are a major part of my Vanguard REIT Index Fund investment over and above that in the Total Stock Market Index Fund. :moneybag
by tomd37
Thu Apr 01, 2021 9:03 am
Forum: Personal Consumer Issues
Topic: What to do with 26 year old central AC unit?
Replies: 40
Views: 2692

Re: What to do with 26 year old central AC unit?

Designairohio - Well said and good advice in my opinion!
by tomd37
Wed Mar 31, 2021 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: $1M / $5M Geico Umbrella Policy in Florida: Are These Numbers Insane?
Replies: 40
Views: 3502

Re: $1M / $5M Geico Umbrella Policy in Florida: Are These Numbers Insane?

I pay $359 per year for a 2 million dollar policy with USAA where I hold my auto and homeowners policy. :D Two older adults only and no other unusual items that might add more exposure.
by tomd37
Wed Mar 31, 2021 2:02 pm
Forum: Personal Consumer Issues
Topic: What to do with 26 year old central AC unit?
Replies: 40
Views: 2692

Re: What to do with 26 year old central AC unit?

I believe in HVAC system annual maintenance. I pay $75 in spring and again in fall for the servicing of two units; a gas pack unit for the first floor and a split system for the second floor. At age 84 I am not tackling that type work myself as I value my life too much. :wink: I do replace the air r...
by tomd37
Wed Mar 31, 2021 10:10 am
Forum: Personal Finance (Not Investing)
Topic: When are my 2017 taxes actually due?
Replies: 19
Views: 1780

Re: When are my 2017 taxes actually due?

Sorry, I misread the original post as to refund vs. owing.
by tomd37
Wed Mar 31, 2021 9:42 am
Forum: Personal Finance (Not Investing)
Topic: When are my 2017 taxes actually due?
Replies: 19
Views: 1780

Re: When are my 2017 taxes actually due?

Retiredjg - The question I would be concerned about, federal taxwise, is what penalty is the OP facing for not filing a 2017 return up until now and for filing a late return at this time. Is there more than one penalty and at what rate?
by tomd37
Wed Mar 31, 2021 8:55 am
Forum: Personal Finance (Not Investing)
Topic: When are my 2017 taxes actually due?
Replies: 19
Views: 1780

Re: When are my 2017 taxes actually due?

OP - Are you inquiring about federal or state taxes?
by tomd37
Thu Mar 25, 2021 12:04 pm
Forum: Personal Investments
Topic: Any place better than Marcus (.5%) to park money?
Replies: 25
Views: 2651

Re: Any place better than Marcus (.5%) to park money?

elliott1234
Live Oak Bank (an online bank) in Wilmington, NC is paying 0.60% APY on high-yield savings accounts and 0.65% APY on their 12-month CD. I have both types of accounts there, but my 12-month CD maturing next month was at 1.60% APY.
by tomd37
Sun Mar 21, 2021 7:45 pm
Forum: Personal Consumer Issues
Topic: REAL ID still set to be effective Oct 1 2021
Replies: 109
Views: 7370

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

7eight9, Thank you for posting the TSA reference link. We are a couple in our mid-80s and getting a new license would not be easy for us. We might expire before the current ones do. :wink: However, I am a US Navy retiree and we both have military identification cards which appear to be fine for the ...
by tomd37
Fri Mar 19, 2021 4:31 pm
Forum: Personal Investments
Topic: RMD & Estimated Taxes
Replies: 40
Views: 2752

Re: RMD & Estimated Taxes

Framus - I assume you are asking if you take your RMD later in the year and have federal tax withheld at that time, will that tax withheld be considered as paid throughout the year. The answer to that is yes.
by tomd37
Wed Mar 17, 2021 11:26 am
Forum: Personal Consumer Issues
Topic: Toyota Sienna - Which Years Were Best?
Replies: 18
Views: 1349

Re: Toyota Sienna - Which Years Were Best?

OP - According to the April 2021 issue of Consumer Reports, the 2014 Toyota Sienna followed by the 2013 version have the best records.
by tomd37
Mon Mar 15, 2021 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: [Third stimulus payment - mega-thread]
Replies: 364
Views: 26136

Re: Received 3rd stimulus check 3/12/21

I have not been able to figure out why we, who filed MFJ for 55 years, only get one-half of our economic incentive payment on each of the three payments. We had to file for the recovery rebate credit on our 2020 tax return and will have to do the same next year when we file our 2021 tax return. :co...
by tomd37
Mon Mar 15, 2021 11:37 am
Forum: Personal Consumer Issues
Topic: Car suggestion for 70+ year-old mom
Replies: 160
Views: 8967

Re: Car suggestion for 70+ year-old mom

Calico - The April 2018 issue of Consumer Reports magazine, page 34 had a very interesting article "Best New Cars for Seniors". Being a senior at age 83 I found the article very informative when I purchased my next car in 2019. The article rated twenty-five cars of various sizes and types ...
by tomd37
Mon Mar 15, 2021 8:47 am
Forum: Personal Finance (Not Investing)
Topic: [Third stimulus payment - mega-thread]
Replies: 364
Views: 26136

Re: Received 3rd stimulus check 3/12/21

I have not been able to figure out why we, who filed MFJ for 55 years, only get one-half of our economic incentive payment on each of the three payments. We had to file for the recovery rebate credit on our 2020 tax return and will have to do the same next year when we file our 2021 tax return. :con...
by tomd37
Fri Mar 12, 2021 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: [Third stimulus payment - mega-thread]
Replies: 364
Views: 26136

Re: Received 3rd stimulus check 3/12/21

I have no idea now of how the federal govt machinery is calculating EIP3. As a MFJ couple my deposit notification from the bank this evening indicates we are getting about one-half of what we are due and expected. That's odd because our 2020 tax return was accepted February 14th and refund received ...
by tomd37
Fri Mar 12, 2021 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: [Third stimulus payment - mega-thread]
Replies: 364
Views: 26136

Re: Received 3rd stimulus check 3/12/21

I did not get the first economic impact payment initially. I think it was the fact that it was based on my 2018 tax return AGI and that year I did not have a refund coming so the return did not include banking info on that 1040. I had not filed my 2019 return therefore they used the 2018 return data...
by tomd37
Fri Mar 12, 2021 2:09 pm
Forum: Personal Consumer Issues
Topic: 3 days in Asheville NC -- end of march weekend
Replies: 39
Views: 3130

Re: 3 days in Asheville NC -- end of march weekend

Our son passed away while living in Asheville. We had to wait until late April/early May to ensure access to the Blue Ridge Pkwy to spread his ashes. Don't count on access to the parkway in late March.
by tomd37
Thu Mar 11, 2021 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: How to deposit a check without endorsing it in the back?
Replies: 31
Views: 3737

Re: How to deposit a check without endorsing it in the back?

Recently I discovered that I can deposit a check into my account by just writing For Deposit Only along with my account number and not have to sign the payee's name. I have been with NFCU for 60 years now and never knew or noticed this. :D
by tomd37
Wed Mar 10, 2021 11:46 am
Forum: Personal Finance (Not Investing)
Topic: EIP & Recovery Rebate Credit Worksheet
Replies: 6
Views: 332

Re: EIP & Recovery Rebate Credit Worksheet

OP here again and last time. Taxpayer called me this morning and found bank deposit of EIP1 in amount of $1200. EIP2 was $600 so he is not due any recovery rebate credit. I did a pen and paper return for him and he is now ready to mail his tax return and the small amount he owes. For those of you fo...
by tomd37
Wed Mar 10, 2021 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Income tax refund
Replies: 5
Views: 506

Re: Income tax refund

Jackoak Did your return contain items for which the IRS had previously announced that returns would be delayed? For example under the PATH Act the IRS cannot issue a refund for returns involving Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) before mid-February. The law provi...
by tomd37
Tue Mar 09, 2021 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: EIP & Recovery Rebate Credit Worksheet
Replies: 6
Views: 332

Re: EIP & Recovery Rebate Credit Worksheet

OP here again with an update. Friend is in mid-70s and I've done his return for years in the Tax-Aide program. He cannot get it done this year there due to lack of appointments with the pandemic. I'm 83 and temporarily out of program this year but willing to help him. Have worked out his 1040 and it...
by tomd37
Tue Mar 09, 2021 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: EIP & Recovery Rebate Credit Worksheet
Replies: 6
Views: 332

EIP & Recovery Rebate Credit Worksheet

Taxpayer filing single received $600 for each of the two economic impact payments (EIPs) and is entitled to $1,200 for first and $600 for second. Therefore has to use the recovery rebate credit worksheet to justify the additional $600 credit. Question is, since taxpayer is filing via paper return, d...
by tomd37
Mon Mar 08, 2021 9:54 pm
Forum: Personal Investments
Topic: Re: Transitioning
Replies: 6
Views: 748

Re: Transitioning

For personal reasons I don't want to go into here and now, I don't want to transition my account at this time. What I would like to know though is whether I have to transition if I want to open a new taxable investment account at Vanguard in my name only. I do have a joint taxable account in my and ...
by tomd37
Sat Mar 06, 2021 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: Mechanics of teen's 1st tax return
Replies: 35
Views: 2010

Re: Mechanics of teen's 1st tax return

I am no expert on this matter, but I would suspect your teen daughter is claimed as a qualified dependent on your tax return. I would then go on to assume that the two EIPs were made to you and if you received an EIP that included a payment for her, that all those payments would be reported on your ...
by tomd37
Fri Mar 05, 2021 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: Capital Loss Carryover
Replies: 1
Views: 193

Capital Loss Carryover

I was asked a tax question today that I was not "absolutely sure" of my response, but my tentative answer was yes. Taxpayer in 2016 had a capital loss carryover of $19,000. Taxpayer did not have income for next three years. Taxpayer now has income and filing requirement for 2020. Question ...
by tomd37
Thu Mar 04, 2021 11:58 am
Forum: Personal Investments
Topic: ally bank takes 10 minutes per CD
Replies: 24
Views: 2101

Re: ally bank takes 10 minutes per CD

Agree with the comment concerning Live Oak Bank in Wilmington, NC. They are at 0.60% APY for online savings and 0.65% APY for a 12-month CD right now. Have a 1.60% APY 12-month CD maturing there the end of April.
by tomd37
Thu Mar 04, 2021 11:48 am
Forum: Personal Investments
Topic: ally bank takes 10 minutes per CD
Replies: 24
Views: 2101

Re: ally bank takes 10 minutes per CD

Three or four years ago I established a monthly ladder of 12-month CDs at Navy Federal CU and/or Synchrony Bank depending on where the best rate was. Sometimes one of them would have a better rate offer for a longer period of time which I would take advantage of thus extending my ladder. As rates dr...
by tomd37
Wed Mar 03, 2021 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Mechanics of teen's 1st tax return
Replies: 35
Views: 2010

Re: Mechanics of teen's 1st tax return

SimonJester - It's like they say, "Garbage in, garbage out!" :wink:
by tomd37
Wed Mar 03, 2021 6:00 pm
Forum: Personal Consumer Issues
Topic: Car suggestion for 70+ year-old mom
Replies: 160
Views: 8967

Re: Car suggestion for 70+ year-old mom

Some people have a liking for certain car manufacturers - My father-in-law passed in 2000. His favorite manufacturer was the Ford Motor Company and its associated products. He had a Ford, Mercury, or Lincoln product manufactured in '29, '39, '49, '59, '69, '79, and '89. He was still driving the '89 ...
by tomd37
Wed Mar 03, 2021 5:28 pm
Forum: Personal Investments
Topic: Taxable Account Ownership - Joint of Individual?
Replies: 3
Views: 255

Taxable Account Ownership - Joint of Individual?

Elderly couple in mid 80s is considering to continue investing in Vanguard taxable account with money in excess of their budgetary needs. What are the pros and cons of the account being titled jointly versus being in name of one individual with the other being primary beneficiary? Current understand...
by tomd37
Wed Mar 03, 2021 11:52 am
Forum: US Chapters
Topic: Nashville / Mid-TN Chapter Master Thread
Replies: 49
Views: 16049

Re: Nashville / Mid-TN Chapter Master Thread

Looks as if we might be getting closer to a get together with the Covid situation improving. Has anyone volunteered as chapter coordinator?
by tomd37
Fri Feb 26, 2021 2:34 pm
Forum: Personal Consumer Issues
Topic: Car suggestion for 70+ year-old mom
Replies: 160
Views: 8967

Re: Car suggestion for 70+ year-old mom

Calico - I am 83 and own a 2019 Subaru Outback Touring model. It's a great car with all the safety bells and whistles mentioned by others here. One new thing that came on the 2020 model that I would have liked was the camera that shows the area immediately in front of the front bumper. The Subaru Ou...
by tomd37
Fri Feb 26, 2021 10:01 am
Forum: Personal Consumer Issues
Topic: USPS Postmarks on Envelopes
Replies: 38
Views: 3446

USPS Postmarks on Envelopes

Has anyone else noted the absence of USPS postmarks on envelopes these days. I see most of the mail I receive these days is what I call presorted and there is no indication of when it was mailed. Therefore I cannot determine how long it takes to reach me. Still waiting on two Valentine cards mailed ...
by tomd37
Tue Feb 23, 2021 10:12 pm
Forum: US Chapters
Topic: Vanguard Diehards > Bogleheads
Replies: 6
Views: 1473

Vanguard Diehards > Bogleheads

Taylor - When was Vanguard Diehards established and when did it close down and migrate to the current Bogleheads? I can remember reading and posting on Diehards but cannot put a date on it. Thanks for any info you can provide.
by tomd37
Tue Feb 23, 2021 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Federal Income Tax Withholding - IRS Pub 15-T
Replies: 1
Views: 133

Federal Income Tax Withholding - IRS Pub 15-T

There have been several discussions lately on these forums about federal tax withholding. There is a good IRS reference publication IRS Pub 15-T which provides guidance to employers on tax withholding. It gets into a bit of detail depending on the type of payroll system uses (manual or automated), b...
by tomd37
Tue Feb 23, 2021 10:58 am
Forum: Personal Consumer Issues
Topic: Asking for specific car rental model
Replies: 28
Views: 1575

Re: Asking for specific car rental model

Iamblessed - Two years ago my wife's car was totaled and we rented a car from Enterprise. It was a Nissan Altima with a CVT. I drove it home (3 miles) and immediately called them and told them I wanted another brand. The CVT was making a very loud whining noise. I had heard of people complaining abo...
by tomd37
Mon Feb 22, 2021 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: No tax refund for the first time
Replies: 81
Views: 5019

Re: No tax refund for the first time

I still recommend that a taxpayer should learn to do a federal tax return by pencil and paper. In the case of Form 1040 detailed line by line instructions are available online and can be saved in a PDF version for reference. All forms are also available online and can be printed out. I am age 83 and...
by tomd37
Sun Feb 21, 2021 3:33 pm
Forum: Personal Investments
Topic: RMD & Estimated Taxes
Replies: 40
Views: 2752

Re: RMD & Estimated Taxes

" I have many years to go but I think personally I would like to finish the RMD and the tax bite on Jan 1st and get it over with ." " Wrongfunds - One thing to consider later when you get to the RMD stage and you also want to do qualified charitable distributions in the same year is t...
by tomd37
Fri Feb 19, 2021 10:33 pm
Forum: Personal Investments
Topic: What concerns should I have when re-allocating my assets?
Replies: 43
Views: 3175

Re: What concerns should I have when re-allocating my assets?

SIY - It is becoming a bit clearer to me now - You are invested in a number of funds and all are in a tax-deferred individual retirement account. You want to reduce your holdings to some yet undefined asset allocation. You have concerns about unrealized capital gains and or losses. Have you come up ...
by tomd37
Fri Feb 19, 2021 5:46 pm
Forum: Personal Investments
Topic: RMD & Estimated Taxes
Replies: 40
Views: 2752

Re: RMD & Estimated Taxes

Framus - I know you did not ask, but if QCDs become involved there are certain sequencing "rules" involved that Alan S. has guided us on in the past. Periodically I see his posts on various forums explaining the situation. Thank you Alan!
by tomd37
Fri Feb 19, 2021 5:25 pm
Forum: Personal Investments
Topic: RMD & Estimated Taxes
Replies: 40
Views: 2752

Re: RMD & Estimated Taxes

Framus - I don't believe the investment company will allow the entire quarterly distribution to be withheld for federal tax. If I remember correctly Vanguard will not allow it. Best you check with your investment company now and get their rules.
by tomd37
Fri Feb 19, 2021 4:46 pm
Forum: Personal Investments
Topic: What concerns should I have when re-allocating my assets?
Replies: 43
Views: 3175

Re: What concerns should I have when re-allocating my assets?

To all - I am trying to get through all the info presented here by OP and those responding. Not having much success. Now that OP is at Charles Schwab would not three funds or ETFs satisfy his overall needs; a total US stock market index, a total US bond market index, and a total international stock ...
by tomd37
Fri Feb 19, 2021 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone had a TurboTax return that included a form 1116 accepted?
Replies: 207
Views: 10721

Re: How long is the IRS taking to accept returns

I submitted my TT return on Friday morning, February 12th and had an acceptance back on Saturday evening, February 13th. The direct deposit of my refund has not hit my bank yet. I would have expected a longer delay in acceptances by the IRS back then as February 12th was the first day the IRS was go...