Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Thanks, but it was catch's neighbor looking into this. Still, I agree with you (and catch) that this is a good way to start. Especially for a student with some side income that is too low to be taxed at all.
" I also suggested the $1,000 from self employment*** be contributed ...
***self employment income qualifies for Roth IRA contributions; but in this case, the individual doesn't have enough combined income to require filing a tax return."
One must …
On one of the United Way pages, it says that MyFreeTaxes.com got rid of the income restriction in 2020.
https://www.unitedway.org/myfreetaxes/partners
IN TAX SEASON 2020, H&R Block HAS removed the INCOME CAP for myfreetaxes. it's free to anyone…
Zacks is just recycling its pablum. It's not all nonsense, but it has a fair share of misstatements, errors, and opinion masquerading as facts.
Its last NASDAQ contribution, dated Jan 14, was also linked to in a post
https://mutualfundobserver.co…
deliberately divorced from what's going on around meWhat about those divorced from what's going on around them through no fault of their own? Should we remove those chirping traffic lights because they're so annoying?
http://www.apsguide.org/chapt…
That sounds about right. Once Vanguard (mutual fund platform) got my transfer request, Fidelity cut a check within a couple of days or so. But it took Vanguard weeks to receive and/or post that check, same as T. Rowe Price.
Compare and contrast:
Cash transfer to mutual fund platform (i.e. direct purchase of fund from family, not via brokerage); 4 weeks, by check, one week additional hold on moneys
Cash transfer to brokerage platform: 3 business days (5 calendar days…
From SSA, 2017 (using 2015 data):
"We find that about half of the population aged 65 or older live in households that receive at least 50 percent of their family income from Social Security benefits and about 25 percent of aged households rely on S…
"banks like Capital One, Ally, Symphony or Barclays. I have an account with Cap-one but I've thought of adding a second for more options. These places are always in the top tier of CD and MM rates without enticing gimmicks. The listed choices in the…
A couple of quick reminders about 60 day rollovers from defined contribution plans (403(b)s, 401(k)s, etc.):
- All pre-tax money (employer contributions, earnings on any money not in a Roth) that is eligible to be rolled over (e.g. not part of an …
Lots of funds are NTF without a 12b-1 fee. That just means that the servicing fee isn't called out explicitly, not that it doesn't exist.
For example, JACTX class T (retail class) has ER of 0.91%, no 12b-1 fee, and is NTF at several brokerages…
Regarding the original article, what's the problem?
The arithmetic of a progressive income tax is that the more you make the higher the percentage of your income you pay in tax. So the top 10% of earners pay 1.6x the average rate (54%/34%). …
Since 2011 health insurers, even drug plan insurers, have had to comply with the medical loss ratio (MLR) requirements created by the ACA. CMS issued rules in 2013 saying that this law applies to Medicare plans and that they have to spend at least…
There are many different online pharmacies (and referral services) with nearly the identical Surrey addresses. For example, 90DayMeds is at 7360 137 St, #338, OnlinePharmaciesCanada is at 7360 137 St #381, QualityPrescriptionDrugs.com is at #245,…
It appears that banks are beginning to figure this into their investment decisions.
To restore faith in the 737 MAX, Boeing ( BA ) needs to prove its flagship jet is not just airworthy but also a safe investment. ... Airplane owners and investors s…
The term of art is "diminished financial capacity".
https://www.sec.gov/oiea/investor-alerts-bulletins/ib_illness.html
This is something fairly new and is different from the usual levels of access. It's closer to Fidelity's "Request for Duplicat…
bee wrote about how muni bondsales might or might not generate taxable capital gains or losses. The fact that muni fund distributions are federally exempt is a completely different matter.
@FD1000, bonds are taxed differently from funds. Sa…
https://www.fool.com/taxes/2020/01/23/does-social-security-income-go-on-my-2019-tax-retu.aspx
Does Social Security Income Go on My 2019 Tax Return?
Think uncle Sam gives 100 dollars but uncle IRS may take back up to 40 dollarsYou may have paid to…
Interesting to note that gains (on muni bonds) are tax free and losses (on muni bonds) can be claimed against other taxable gains.
@MSF
All my HY munis funds' monthly distributions for 2018 (and all priors years) were Fed exempt. I never buy single…
Hi @Mark
This is not a direct relate to your particular question; but a further look into Roth conversions.
I can not verify the suggested numbers or data.
HERE
I'll use their numbers to reiterate my comment about external impacts.
Aim to “fill …
Personally, I set up a spreadsheet with the rudiments of a 1040. But then you'd sort of expect me to do that :-)
Something relatively easy to do is to take the software you used to prepare your last tax filing and tweak that year's inputs. Just…
Taxation of muni bonds is not so straightforward.
Thumbnail sketch:
- "gain" (actually accretion) due to OID is reportable annually as tax exempt interest (can affect SS, IRMAA)
- "gain" due to market discount is taxable as ordinary taxable incom…
Articles in The Economist and the Financial Times are also UK articles. That doesn't make them of less interest to US investors. It's only when they discuss specific foreign securities and that fact is not flagged up front that readers can feel…
Many brokerages allow you to trade ETFs that are sold on foreign markets. For example, Fidelity says that:When you sign up for international trading, most common stocks and exchange-traded funds (ETFs) listed in the following markets will be avail…
“When a businessman is about to sign a check to someone who owes him something, he said, the businessman asks that person to pay up before signing the check.”
Last time he got caught not delivering before the election, so this time he's asking for…
Of course it's election season. Second verse, same as the first ...
Trump raised eyebrows in October when he suddenly began to talk about a 10 percent tax cut for the middle class ...
... ahead of the midterms.https://www.vox.com/policy-and-polit…
On one of the United Way pages, it says that MyFreeTaxes.com got rid of the income restriction in 2020.
https://www.unitedway.org/myfreetaxes/partners
IN TAX SEASON 2020, H&R Block HAS removed the INCOME CAP for myfreetaxes. it's free to anyone…
But let’s go back 20 years to early 2000, when the S&P 500 was at roughly 1500.
If you had bought then and held until now, that works out to be an average annual return of just 4%.
4% is better than zero… but it’s hardly anything to write home…
Not just T. Rowe Price.
Vanguard, the largest passive-fund manager with $3.8 trillion in assets, is likely to become the largest active manager as well within a few years. Currently Vanguard boasts $1.37 trillion in active mutual fund assets, well a…
Ascension, a Catholic chain with 150 hospitals across 20 states and the District of Columbia, is testing whether Google’s technology can accurately search and retrieve all information for a single patient—a widely known challenge that frustrates doc…
The site says many things, that's certainly one of them, displayed prominently on the third slide of the home page. It also says in the "fine print" (its FAQs) that it's free "for individuals and households earning less than $66,000" and that "If…
Stop me if you've heard this before:
After a Boeing 737 crashed ... investigators focused blame on the pilots for failing to react properly when an automated system malfunctioned and caused the plane to plummet ...
The fault was hardly the crew’s a…
@Catch22 - the answer is in the Intuit page you cited: "Although a rollover or conversion of assets from one retirement plan into an IRA isn’t deductible, they are considered contributions and will be reported in boxes 2 and 3 of Form 5498."
The I…
To @hank's concern about comingling multiple conversions: Kitces points out that for tax purposes all the accounts are combined into one virtual account anyway.
That's similar to the way RMDs are handled, which is more familiar. You've got m…
Usually when Vanguard shows returns from a high turnover actively managed fund, it does so to show how much better off one would be with one of its low cost, low turnover funds (whether actively or passively managed). Here it is doing somewhat the…
The point of my initial post was that mutual fund platforms are unable to participate in the ACAT system to pull assets. What you're describing was a brokerage to brokerage transfer, that was something different. Of course that went by ACAT. Sa…
Update:
It seems clear now that at least some of the delay originated at Vanguard. It received a check on Jan 11 (Saturday), and didn't enter a purchase order until after close of business Jan 13 (Monday). So the check sat uncashed at Vanguard…
There was a thread not that long ago linking a paper that claimed M* understated credit risks of bond fund holdings. M* and the authors had some back and forth.
That MFO thread wound up in the bullpen. Here's a M* discussion community thread…
