| Money Talk|| re: Obama wants to tax 529 Tax-Free college plans - GoIrish02 on 1/21/15 at 1:06 pm|
[quote]Do you think that they will make tax advantaged accounts worse off than taxable?[/quote]
If they were to tax a qualified account like a 529 like an IRA, it would be far worse than a taxable account. Withdrawals would be taxed as income, at the parent's/owner's rate (not the child's/benefic...
| Money Talk|| re: Obama wants to tax 529 Tax-Free college plans - GoIrish02 on 1/21/15 at 9:09 am|
The relative amount of money in Roth IRAs to money in traditional IRAs and 401k plans is such a pittance it wouldn't make a difference.
Seizure of traditional plans is much more likely first because of the scale. See Theresa Ghilarducci's plan for seizing all qualified tax deferred plans. She w...
| O-T Lounge|| re: Most overpaid professions - GoIrish02 on 1/8/15 at 9:12 pm|
Gross margins are only about 20-25% of revenue in a well run insurance agency, 10-15% at older agencies. Revenue is defined as commission income, not gross premium.
Most of your insurance dollar goes to the company to pay out claims in the current year and run the insurer, about 0.80 - 0.85 of ev...
| Political Talk|| re: How would transportation (bus, train) operate in a free market? - GoIrish02 on 1/7/15 at 9:40 am|
You can get a Chinatown bus to and from just about any city in the northeast for a few dollars, on a nice bus with a movie and free wifi. Plus they pretty much put greyhound out of business and Amtrak is uncompetitive versus the Chinatown busses.
I took a bus from Chinatown in Manhattan to D.C. ...
| Money Talk|| re: Solo 401(k) Add the Spouse question - GoIrish02 on 12/24/14 at 1:10 am|
Congratulations, you're not stupid.
Anything you spent on medical expenses this year is reimbursable as long as you set it up during the calendar year.
| O-T Lounge|| re: Recommendations on bootcut jeans that arent slim/skinny jeans? - GoIrish02 on 12/23/14 at 3:23 pm|
| Money Talk|| re: Solo 401(k) Add the Spouse question - GoIrish02 on 12/23/14 at 12:22 am|
Yes, must be adopted and set up by 12\31, all expenses for 2014 are eligible. It's just a word document your wife signs and she can submit a medical expense report at an interval you decide.
Find Bradford's tax reduction newsletter online and a sample plan is free when you sign up for the letter...
| Money Talk|| re: Solo 401(k) Add the Spouse question - GoIrish02 on 12/22/14 at 2:47 pm|
Add a section 105 health reimbursement plan instead, combined with a high deductible health plan, which allows you to pay 100% of all medical expenses (high deductible and all premiums) and contribute the maximum to an hsa each year as your spouse's sole source of remuneration.
A section 105 rei...
| Money Talk|| re: My pathetic and inadequate 17/18 year retirement window. Advice Welcomed. - GoIrish02 on 12/15/14 at 9:27 pm|
Roth 401k is superior to an SEP, as you can defer $18,000 in income plus the same profit sharing amount as an SEP....
| Money Talk|| re: Car buying situation-Need advice - GoIrish02 on 12/15/14 at 9:24 pm|
Then get a burner phone and list on Craigslist.[/quote]
I use Google voice for everything I sell on craigslist.
You should be able to at least break even on a Honda. Get coach guidry and/or offer 3% over invoice, but not on a pilot. I looked at one last week and was very disappointed...
| Money Talk|| re: About to be self employed...should I go LLC? - GoIrish02 on 12/15/14 at 5:10 pm|
[quote]an additional tax return (you'll still file personal taxes, plus the corporate taxes), it will cost you to incorporate[/quote]
Schedule C is your friend. No need to file corporate returns or elect S corporation status to get the limited liability protection of an LLC. S corporation status ...
| Money Talk|| re: Retiring at 50 - how do you calculate how much you need? - GoIrish02 on 12/9/14 at 3:29 pm|
[quote]$3.5 million in financial assets, minimum. [/quote]
I was having this discussion with my dad recently and we came up with $3 million today.
Based on a 4-6 percent annual withdrawal rate, this sum would yield $140,000 ~ $180,000 per year forever and not erode the principal sum. This is ...
| New Orleans Saints Talk|| re: Where are the Loomis threads? - GoIrish02 on 11/25/14 at 12:04 am|
We need more bad boys on this team.
Who know how to tackle, instead of doing commercials for 5 minute oil change.
Sorry for the thread hijack, just pissed at Vaccaro. Even the bad boys get soft under this regime....
| New Orleans Saints Talk|| re: Bobby is so wasted - GoIrish02 on 11/24/14 at 11:58 pm|
Turn it on, he's naming names...
Unloading on the O Line right now...
| New Orleans Saints Talk|| re: Bobby is so wasted - GoIrish02 on 11/24/14 at 11:55 pm|
"YOU THINK THIS A LEAGUE WHERE YOU GOTTA HAVE SWAG?
DAT NFL DEFENSE LAUGH AND SMACK YOU RIGHT IN DA MOUT...
YOU GOTTA TAKE POINTS IN DA NFL!!!"
It's dangerous now that he owns the place and no one will cut him off....
| New Orleans Saints Talk|| re: The saints fan who snagged the ball from the Cincy fan - GoIrish02 on 11/16/14 at 2:23 pm|
[quote]Wait,, black on white violence in NOLA ?
You won't hear about in the Times Picayune...
| Political Talk|| re: Russia to now regularly patrol the Gulf of Mexico - GoIrish02 on 11/12/14 at 9:56 pm|
[quote] There's nothing in the gulf they'd have interest in[/quote]
They're going to drill for oil off the coast of Cuba and Florida, as the Chinese already do, and/or off the coast of Mexico, now that Mexico is open to foreign interests in the energy business.
The USA has 3 huge coastlines ...
| O-T Lounge|| re: Why is WWL Radio so crappy? - GoIrish02 on 11/10/14 at 9:44 pm|
[quote]I haven't listened to him in years, but he was on a car I got in on Monday.
WTH happened to his voice?[/quote]
Rush went deaf, had to have his hearing restored with cochlear implants and relearn how to speak & hear all over. ...
| O-T Lounge|| re: Do you know anyone like George Costanza? - GoIrish02 on 11/10/14 at 11:30 am|
[quote]I think I'm the coolest person he knows & because of that he likes to hang with me. Like being seen with me gives him some kind of cred.[/quote]
This sounds like the time George borrowed a picture of Jerry's girlfriend to get into the "forbidden city" models-only secret night club, by sayi...
| Money Talk|| re: Capital One Debit Card Compromised - GoIrish02 on 8/1/14 at 1:39 pm|
[quote]Never use a debit card online[/quote]
Or anywhere else to buy anything ever.
The only safe and limited use for a debit card is to get cash from an ATM located INSIDE the physical premises of a bank. Not the drive up ATM outside your local branch, not your bank's ATM or another nationa...