Favorite team:LSU 
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Interests:Fishing
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Number of Posts:162
Registered on:8/20/2008
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re: Auto Ins: $422/mo for 2 vehicles

Posted by tigerrocket on 2/27/24 at 8:34 am
I should have said max liability to qualify for umbrella policy. I have $250k/$500k. ...

re: Auto Ins: $422/mo for 2 vehicles

Posted by tigerrocket on 2/27/24 at 8:15 am
2024 Audi, 2019 GMC AT4, 2020 Civic, and 2018 Civic. Full coverage max liability, two college students, and one accident with no tickets. My renewal came in at $13,900 for the year. I was able to get it down to $4200 for 6 months with Geico. The $13,900 renewal was with American General....
Look up 72T calculator to see how to avoid the penalty. ...

re: SEP IRA

Posted by tigerrocket on 11/6/23 at 4:26 pm
IRS link: https://www.irs.gov/retirement-plans/plan-sponsor/simplified-employee-pension-plan-sep The financial institution that choose will walk you through the process. ...

re: Is it too late for living trust?

Posted by tigerrocket on 10/19/23 at 1:14 pm
Florida and Louisiana do not have an estate tax. Federal estate tax is only on estates north of 12 million. A living trust will allow you to avoid probate if all of his assets are transferred into the trust. ...

re: Sold house/tax question

Posted by tigerrocket on 6/14/23 at 9:47 am
If you have taken possession of the sales proceeds, I don't think you are eligible to do a 1031. ...
You would only want to do a 1031 if you aren't eligible to sell it tax-free under the primary residence rule. If you do a 1031, you will not be selling it tax-free, just tax-deferred. You would also have to purchase a like property at a price at least as high as the one you sold....
You will not pay capital gain taxes on a sale if this was your primary residence for 2 out of the last 5 years. You could rent it for a few years and keep your 3% mortgage. If you rent it long-term, you will lose the ability to have a tax-free sale....
One of the most common prohibited transactions is known as self- dealing, which is when the IRA owner attempts to do business with themselves. This isn’t allowed. You can’t buy or sell property to yourself....
Have your agent run the quote with higher deductibles. There is also a private market flood program that may be less expensive....
TOD and probate comes into play at death. If the person is still alive but incapacitated, you would need a Power of Attorney to handle their affairs....

re: 401k - loan vs complete withdrawal?

Posted by tigerrocket on 12/20/21 at 10:05 am
You may not be eligible for a 401k loan if you are not currently on the payroll. Check with HR. ...
$5000 every 6 months. $833 per month with Allstate. 2019 GMC AT4 2017 AUDI Allroad 2020 Honda Civic 2018 Honda Civic Two teenagers in the house. By paying every 6 months via ACH with Allstate I save about 10% versus paying monthly and can't be with a credit card....
It's only effective when you have a cooperative media that does not challenge any of the lies. ...

re: LSU Fee Bill - TOPS

Posted by tigerrocket on 7/19/21 at 2:45 pm
It says anticipated Tops and Anticipated Tops Stipend....

re: LSU Fee Bill - TOPS

Posted by tigerrocket on 7/19/21 at 1:56 pm
My son's anticipated tops is showing on the fee bill....
The perk is that by having all your before tax retirement money in a 401k, you avoid the pro-rata rule that could make your backdoor conversion a taxable event....

re: Nuances of 1031 Exchange

Posted by tigerrocket on 5/7/21 at 11:10 am
https://www.firstexchange.com/locations This is who I use in Louisiana, but they have offices everywhere....

re: Owe $15K-$18k in fed taxes

Posted by tigerrocket on 4/13/21 at 2:10 pm
Correct. The funds that were withdrawn can also be repaid for up to three years from the day after the distribution. You will need to amend your tax return to get the taxes back....