User Profile: tigerrocket | TigerDroppings.com
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Favorite team:LSU 
Location:
Biography:
Interests:Fishing
Occupation:
Number of Posts:102
Registered on:8/20/2008
Online Status:Not Online

Recent Posts

Message
re: Switching jobs and 401k question - tigerrocket
Because it's a relatively small amount, I would roll it over to the 401k. I wouldn't want to bother with another account, unless you were planning on making contributions to the new IRA. Those contributions might not be deductible depending on your income anyway. ...
Posted on Money Talk
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re: CFP - tigerrocket
I think it is more helpful for a young advisor's confidence in the early part of their career, and the information learned is valuable, but I have only had about 6 prospects/clients ask if I was a CFP in the last 20 years. Most of my clients don't even know what it is. I think that there are too...
Posted on Money Talk
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re: CPA Question - EDIT - Can I retroactively fill out a 1099-Misc for IC work? - tigerrocket
I have several properties, each one in a different LLC, and my CPA makes me get a w-9 signed by everyone I pay over $600. It's a pain in the a$$ to keep up with. I was hoping to prove him wrong....
Posted on Money Talk
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re: CPA Question - EDIT - Can I retroactively fill out a 1099-Misc for IC work? - tigerrocket
Follow up question: If the rental property is owned by an LLC, would this constitute a trade or business?...
Posted on Money Talk
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re: CPA Question - EDIT - Can I retroactively fill out a 1099-Misc for IC work? - tigerrocket
My CPA would have made me issue a 1099 to the individual who did the A/C work, assuming he is an independent contractor. ...
Posted on Money Talk
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re: Deducting Mortgage Interest on Two Houses in Same Year? - tigerrocket
an expense is not a deduction, but that is why you hired a cpa. ...
Posted on Money Talk
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re: Deducting Mortgage Interest on Two Houses in Same Year? - tigerrocket
On the rental property, the interest is an expense. On primary residence or second home, the interest is considered a deduction. ...
Posted on Money Talk
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re: Power of Attorney Question - tigerrocket
When I did it the last time, the title company prepared the forms, and my wife came in and signed in advance. ...
Posted on Money Talk
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re: Real estate or stock market? - tigerrocket
Yes, I have some not so good tenants, but I've gotten better at the selection process. I am also doing more commercial rentals now. It helps to have lot's of handymen in your network, so you aren't the one doing all the work. I do find it interesting how most people are more comfortable with...
Posted on Money Talk
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re: Real estate or stock market? - tigerrocket
I'm not saying that the stock market hasn't produced good returns if you look back over it's history, I'm just stating that most investors don't have the stomach to stay invested in bad times. What would you do in 2008, if your million dollar account went down 45%? What return would it take to get ...
Posted on Money Talk
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re: Real estate or stock market? - tigerrocket
I personally like real estate more, because I have a physical asset that I can see and touch. My observations with the stock market tell me that most people don't have the stomach to withstand the volatility of the stock market. They get updated account values several times a day, and as soon as a...
Posted on Money Talk
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re: Inheritance what to do - tigerrocket
Question 1. If you cash out the beneficiary IRA, you will pay ordinary income tax, but not a 10% penalty. It will probably put you in a much higher tax bracket. I would not cash it in except for the Required minimum distribution. Question 2. The mutual funds that you buy with the proceeds of t...
Posted on Money Talk
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re: Self employed retirement plans? - tigerrocket
You are probably talking about a 401k with a profit-sharing component, not a straight 401k plan?...
Posted on Money Talk
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re: Have the markets peaked? - tigerrocket
I'm not sure that the Fed has any motivation to raise rates and especially not aggressively. Raising rates aggressively would crush the market though....
Posted on Money Talk
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re: Help buying a GMC - tigerrocket
I bought the same vehicle back on December 31st. The sticker was $52,155. I paid $46,750. The incentives seem to be much better now. All I had was the rebate. There doesn't seem to be too many of these around. The dealer had to get mine from New Iberia. (FYI: there have been two recalls alr...
Posted on Money Talk
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re: Started the new job - Simple IRA - tigerrocket
I assume that the employer matches dollar for dollar on the first 3% that the employee contributes. In order to get the full $3k employer match, the employee would have to be making $100k....
Posted on Money Talk
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re: Tony Gonzalez, Should We? - tigerrocket
Gonzales can go anywhere. He has been released by the Falcons. No trade necessary....
Posted on Saints Talk
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re: Simple IRA Broker/Advisor Question - tigerrocket
I believe there is a two year waiting period starting from when you first contributed....
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re: Simple IRA Broker/Advisor Question - tigerrocket
I believe that if it is a 5304 SIMPLE plan, then you can go to any institution. If it is a 5305 Simple plan, you are limited to the one institution. The type of plan is chosen at setup by the employer. Sometimes employers don't want to send checks to multiple institutions....
Posted on Money Talk
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