Search found 124 matches

by Brain
Fri Sep 01, 2017 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Stop income tax withholding
Replies: 15
Views: 2160

Re: Stop income tax withholding

I usually get thousands of dollars back for a refund each year, even with 10 exemptions. Why are you letting that happen? Ideally most would recommend that you get a small refund so that you dont give interest free loan to IRS. From a fraud perspective, they say, ideal situation is to have small pa...
by Brain
Fri Sep 01, 2017 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Stop income tax withholding
Replies: 15
Views: 2160

Stop income tax withholding

Greetings Bogleheads, Due to the sale of our old house, which resulted in a big capital business loss (it was a rental), I want to stop the income tax withholding on my pay check. I usually get thousands of dollars back for a refund each year, even with 10 exemptions. I've already paid as much this ...
by Brain
Mon May 08, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Passive activity loss adjustment for rental property
Replies: 22
Views: 7440

Re: Passive activity loss adjustment for rental property

This money counts against my AGI, so I lose some credits, but since it's all capital gains, it doesn't bump up my ordinary income bracket, which therefore doesn't bump up my capital gains bracket. Not sure where you are getting that info. Traditional-to-Roth conversions are taxed at normal income t...
by Brain
Mon May 08, 2017 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Passive activity loss adjustment for rental property
Replies: 22
Views: 7440

Re: Passive activity loss adjustment for rental property

Wow, this is practically the same situation I'm in right now. My wife and bought our first house back in 2006 at the peak of the housing bubble. Three years ago, we moved to a house with more bedrooms and closer to my work. We didn't want to realize the loss on the old house, and I make a decent eno...
by Brain
Thu Mar 16, 2017 11:02 am
Forum: Investing - Theory, News & General
Topic: Church Development Funds?
Replies: 20
Views: 5512

Re: Church Development Funds?

My church, the Lutheran Church - Missouri Synod, has such a group, the Lutheran Church Extension Fund (http://www.lcef.org). Nearly every church in the LCMS uses the LCEF for their financing. Their rates are nowhere near as high as the Solomon Foundation, though. I have no idea how they can afford t...
by Brain
Wed Jan 04, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance rental property? - UPDATE - Selling a rental
Replies: 17
Views: 2734

Re: Refinance rental property?

Well, our renter moved out on Dec. 31, so the property manager is asking if we want to rent or sell. My wife and I talked about it last night, and the values have come up a good bit, but I don't know they'll ever get back to where we paid for it, let lone going above that. We'll just have to chalk i...
by Brain
Fri Nov 25, 2016 11:37 am
Forum: Personal Consumer Issues
Topic: Quicken 2017 special offer vs Amazon.
Replies: 11
Views: 4815

Re: Quicken 2017 special offer vs Amazon.

I just ordered it from Amazon. It was 43% off last night, but this morning it was 41% off. I just wasted two dollars by hesitating. Even if you are nervous about bugs, buy it now and don't install it until the update you're comfortable with comes out. Amazon keeps it in your library for easy downloa...
by Brain
Thu Oct 20, 2016 10:22 am
Forum: Investing - Theory, News & General
Topic: [WSJ - What Does Nevada’s $35 Billion Fund Manager Do All Day? Nothing]
Replies: 35
Views: 7732

Re: WSJ - What Does Nevada’s $35 Billion Fund Manager Do All Day? Nothing

I found this from a couple years ago https://www.nvpers.org/public/publications/FY14CAFR.pdf The 'Asset Mix' is on page 67. Interesting choice of investment advisors...I guess when you have billions Vanguard doesn't work, or maybe the numbers are large enough that the advisors charge Vanguard like ...
by Brain
Mon Oct 17, 2016 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Are you rich? An article by Jonathan Clements
Replies: 19
Views: 7518

Re: Are you rich? An article by Jonathan Clements

3. You have more than your neighbors. Research suggests that we care less about our absolute level of wealth or income, and more about how we compare to others. This is unfortunate: Unless you’re the world’s richest person, there will always be somebody who is better off, so maybe you’ll never be s...
by Brain
Thu Sep 22, 2016 11:26 pm
Forum: Personal Investments
Topic: 529 and Coverdell ESA?
Replies: 5
Views: 967

Re: 529 and Coverdell ESA?

The tax savings of using your state 529 program (if your state grants a benefit for using it, such as Virginia does) far eclipses any potential difference in the investment options.
by Brain
Thu Sep 22, 2016 2:21 pm
Forum: Personal Investments
Topic: 529 and Coverdell ESA?
Replies: 5
Views: 967

Re: 529 and Coverdell ESA?

ESAs can be used for any level of education, and for education-related expenses, such as room and board, books, lab fees, electronics, etc. They are limited to $2,000 per beneficiary per year. They're a bit of paperwork, too, since they're treated like an IRA. If you do not intend to send them to pr...
by Brain
Mon Sep 19, 2016 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 6006

Re: Questions for Insurance Salesman on Whole Life Policy

I showed this thread to my wife and it reassured her that should the unfortunate happen, it wouldn't be a big financial problem for us, even without insurance. So, my plan of action is to pick up another 20y term policy for $500,000 on myself, and then drop all the whole life policies. Is there any ...
by Brain
Sat Sep 17, 2016 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 6006

Re: Questions for Insurance Salesman on Whole Life Policy

Well, I did end up meeting with him and I didn't buy anything. It was, as expected, simply an annual check-up. I asked several questions about the universal life policies, both on the adults and the children. We also asked other generic financial issues. He actually said his group is switching over ...
by Brain
Fri Sep 16, 2016 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 6006

Re: Questions for Insurance Salesman on Whole Life Policy

A little more context: I am the sole provider; my wife is a stay-at-home-mom. We do have term policies for me and her. We each have $500,000 in term. We even got some disability insurance for her, but it seems that SAHMs are a hard lot to get disability insurance for, since they are more likely to h...
by Brain
Thu Sep 15, 2016 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Questions for Insurance Salesman on Whole Life Policy
Replies: 59
Views: 6006

Questions for Insurance Salesman on Whole Life Policy

I'm meeting with my insurance salesman tomorrow night. It's an annual review sort of meeting, mostly financial planning type stuff. But since I joined this forum, I've seen all the whole life policy hate and feeling a little uncomfortable, considering everyone in my family has a whole life policy of...
by Brain
Thu Sep 08, 2016 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Prospective Employer Wants Salary History & Desired Salary
Replies: 265
Views: 27387

Re: Prospective Employer Wants Salary History & Desired Salary

KlangFool wrote:
From your URL, the person that said yes is an HR person. Guess which side she is on?

KlangFool
And she works in the public sector where their salary ranges are public. She has no choice but to reveal them and therefore, they are revealing their numbers first, so her position makes no sense.
by Brain
Thu Sep 08, 2016 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Prospective Employer Wants Salary History & Desired Salary
Replies: 265
Views: 27387

Re: Prospective Employer Wants Salary History & Desired Salary

If the goal is to save time by determining if the company's range and the prospective employee's expectations align, isn't it just as easy for the company to reveal its range to the employee and let the applicant determine if that's acceptable?
by Brain
Fri Jul 01, 2016 10:02 pm
Forum: Personal Investments
Topic: What am I not understanding?
Replies: 45
Views: 5836

Re: What am I not understanding?

As others have said, you're looking at the handful of funds that did well over the last X years. Some fund's got to be the best over some period of time, but the likelihood of the same fund being the best over the next time period is pretty slim. Here's an example: You mention the health care fund. ...
by Brain
Fri Jun 17, 2016 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance rental property? - UPDATE - Selling a rental
Replies: 17
Views: 2734

Re: Refinance rental property?

I got the 3.5% from looking at bankrate.com's site. Adding in the rental/investment adjustment brought it up to 3.875% for the actual quote. I just showed this thread to my wife and she made the fantastic point that as long as we have a steady renter, then the slight profit margin isn't an issue and...
by Brain
Fri Jun 17, 2016 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance rental property? - UPDATE - Selling a rental
Replies: 17
Views: 2734

Re: Refinance rental property?

Oh, I'd love to pay no closing costs. $0 is a way better price than any other number! Getting the bank to pay for the refinance is certainly a good plan. Are you refinancing a rental property or a primary residence. I'm willing to bet that may affect the bank's eagerness to cover any costs.
by Brain
Fri Jun 17, 2016 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Refinance rental property? - UPDATE - Selling a rental
Replies: 17
Views: 2734

Re: Refinance rental property?

I'm intending to roll any closing costs into the new mortgage. The point of this is to reduce what's coming our of my pocket, not pull even more out.

Will I run into trouble with rolling the closing costs into the mortgage since it's an investment/rental? Or if it shifts my equity back under 25%?
by Brain
Wed Jun 15, 2016 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance rental property? - UPDATE - Selling a rental
Replies: 17
Views: 2734

Re: Refinance rental property?

Powermega: Thanks for the link. It looks like the quote I got is in line with the investment property "adjustment". Mdavis6890: I assume your're calculating the expected net income when taking repairs/vacancy/etc. into account? If so, that is a pretty sobering number. I wouldn't say that b...
by Brain
Wed Jun 15, 2016 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance rental property? - UPDATE - Selling a rental
Replies: 17
Views: 2734

Rates for rental/investment properties

I've been checking bankrate.com to see where the rates are; that's where I got the 3.5% number. I contacted one of the companies and the salesman there quoted me 3.875%. I asked him why his quote was 38 basis points higher and he said that it was because it's an investment. Is this the standard prem...
by Brain
Fri May 27, 2016 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance rental property? - UPDATE - Selling a rental
Replies: 17
Views: 2734

Refinance rental property? - UPDATE - Selling a rental

Two years ago, my wife and I moved to be closer to my work and to get a bigger house for our growing family. We bought the first house at the peak of the housing bubble, so we would have realized a massive loss if we sold it at that point and I just couldn't stomach it, so we opted to rent it out. T...