
OMapologist
Favorite team: | Valparaiso ![]() |
Location: | |
Biography: | |
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Occupation: | |
Number of Posts: | 594 |
Registered on: | 10/28/2015 |
Online Status: | Not Online |
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re: roth 401k vs regular 401k
Posted by OMapologist on 10/18/19 at 8:59 am
quote:
So I’d pay my tax in a lower tax environment depending on your circumstances.
I don't disagree with the logical, but I think too often people don't consider the very real possibility of the tax law changing...
Just look at the history of the taxability of Social Security benefits if you need proof that income you thought wouldn't be taxable can become taxable. One of the best professors I had in college (who taught Tax Seminar) always told his students that he'd take the tax break NOW if given the choice.
re: Hypothetical Scenario - Self-Directed Solo 401k - Is it allowable?
Posted by OMapologist on 5/30/19 at 10:01 am
Probably should have realized that. Thanks.
Hypothetical Scenario - Self-Directed Solo 401k - Is it allowable?
Posted by OMapologist on 5/29/19 at 8:56 am
I've got a 9-5 job that enables me to save $1,000/month and I own a single member LLC that generates $1,000/month in net income before taxes. The LLC has a Self-Directed Solo 401k plan.
Can I use my $1,000 9-5 savings to pay my LLC for some services and thereby increase my contributions to the 401k? Can I otherwise use the 9-5 savings to contribute to the 401k?
Assume that the services are legitimate, if possible.
If anyone has experience in a similar situation or with a Self-Directed Solo 401k plan in general I would love to hear your thoughts or your particular situation.
Can I use my $1,000 9-5 savings to pay my LLC for some services and thereby increase my contributions to the 401k? Can I otherwise use the 9-5 savings to contribute to the 401k?
Assume that the services are legitimate, if possible.
If anyone has experience in a similar situation or with a Self-Directed Solo 401k plan in general I would love to hear your thoughts or your particular situation.
re: Was “I Am Legend” Will Smith’s best acting job?
Posted by OMapologist on 4/17/19 at 7:36 am
Enemy of the State is one of Will Smith's bests.
re: Best Multi-User Accounting Software?
Posted by OMapologist on 4/4/19 at 8:14 am
Another vote for QB over Sage here. I use both QB Enterprise and QBO. To be fair I have only limited experience with Sage.
While Quickbooks itself is not great at inventory management (if that's really what you're looking for), Quickbooks is best in class when it comes to 3rd party integrations meaning you should be able to find a software that meets your inventory tracking needs and integrates fairly seamlessly with whatever version of Quickbooks you want.
While Quickbooks itself is not great at inventory management (if that's really what you're looking for), Quickbooks is best in class when it comes to 3rd party integrations meaning you should be able to find a software that meets your inventory tracking needs and integrates fairly seamlessly with whatever version of Quickbooks you want.
Incorrect mobile check deposit made into my account
Posted by OMapologist on 3/20/19 at 3:44 pm
For a little more than 5k.
What would you fine folks do if you were in my shoes?
-Spend it?
-Call it in?
-Sit on it and do/say nothing?
TIA
What would you fine folks do if you were in my shoes?
-Spend it?
-Call it in?
-Sit on it and do/say nothing?
TIA
re: Official Running Log/Marathon Training Thread
Posted by OMapologist on 3/4/19 at 1:38 pm
quote:
At this point, I just suggest putting in the miles. I'd try to run 5x a week. Just get in the miles. That's only 4 weeks. 20 runs, make them count.
Advice well received. I improved my pace from 11:15 to 10:33, which I'm very pleased with considering my lack of prep.
re: Man vs wolf (you get one tool)
Posted by OMapologist on 2/22/19 at 2:26 pm
quote:
A good powerful swing with a bat is usually good enough to put just about anything down with one shot if placed right.
All these dummies choosing a baseball bat to kill a wolf are envisioning themselves hitting a Hank Aaron homer on the beast and walking away unscathed... ain't gonna happen.
I'll take the knife and give it my left arm so I can stab the thing a couple of times. If I'm lucky, I'll have hit the jugular or some other vital organs.
It's gonna hurt, but an alpha male with a 6" blade could kill a wolf if he saw it coming.
re: Official Running Log/Marathon Training Thread
Posted by OMapologist on 2/4/19 at 3:55 pm
Help!
Ran a half marathon 2 months ago (at about an 11 min/mile pace). I have only run about 5 times since not anticipating doing another one any time soon.
I was just reminded that I'm suppose to be doing one on March 2nd and I'd like not to disappoint. I'd also like to improve my time.
What sort of regimen would you suggest? I can probably do 4-6 miles my race pace pretty comfortably. I frankly didn't train that much ahead of the first one.
Ran a half marathon 2 months ago (at about an 11 min/mile pace). I have only run about 5 times since not anticipating doing another one any time soon.
I was just reminded that I'm suppose to be doing one on March 2nd and I'd like not to disappoint. I'd also like to improve my time.
What sort of regimen would you suggest? I can probably do 4-6 miles my race pace pretty comfortably. I frankly didn't train that much ahead of the first one.
re: Itemize vs standard deduction
Posted by OMapologist on 2/4/19 at 3:49 pm
quote:
I'm curious if we should just take standard or itemize still.
Assuming you're in a state with income taxes, you'll need to consider both options carefully. You'll be required to take the same deduction on your state return that you did on your federal return. The problem here is that your state standard deduction may be significantly less (i.e. significantly further away) than your itemized deductions.
A general rule of thumb is that if your itemized deductions total $19,000 or more, you'll be better off taking the itemized deductions. You're specific circumstances will dictate the tipping point for you.
re: Spinoff: Have you ever known a murderer?
Posted by OMapologist on 12/13/18 at 4:18 pm
Guy that works for me committed triple homicide in "self defense". He got out after 30 years.
re: Update: Christmas Bonuses
Posted by OMapologist on 11/29/18 at 8:39 am
quote:
I would say that a bonus is just that; a bonus. It should not be expected, albeit rather nice to have around the holidays
While that seems obvious and sounds nice, I can tell you that definitely is not the way it is. If someone has been receiving the same bonus for several years, they are going to be expecting it and will feel entitled to it. Not saying it's right. It's just human nature.
re: Foods You Couldn't Do Without?
Posted by OMapologist on 11/16/18 at 8:57 am
Cows
then
it's a toss up between Chickens (Eggs) or Pigs (Bacon)
then
it's a toss up between Chickens (Eggs) or Pigs (Bacon)
re: Macon GA v Florence/Muscle Shoals AL
Posted by OMapologist on 11/13/18 at 9:36 am
I live in Macon. It's not nearly as bad as this board would have you believe. There are plenty of good things going on in the revitalization of the downtown area. And those who say there's nothing to do are the types of people who don't do much regardless. Feel free to ask me anything specific you'd like to know.
I will say, however, that unless you plan on living in the Monroe County area and commuting, you'll want to be putting you children through private school which will cost 12-15k a year through the high school years.
I will say, however, that unless you plan on living in the Monroe County area and commuting, you'll want to be putting you children through private school which will cost 12-15k a year through the high school years.
re: CPA error on return suggestions
Posted by OMapologist on 11/9/18 at 12:59 pm
quote:
Is it fair to ask for my consultation meeting coming up to be comp’d due to the mistake? I’m not really upset, but I feel like I have a $250 consequence due to their mistake and they should be penalized to a degree also?
If he doesn't offer to knock the costs off your next bill, then yes it is fair to ask. CPA here fyi.
re: Weight loss advice
Posted by OMapologist on 11/2/18 at 11:43 am
quote:
100% false
You don't know me, bro. I'm just telling you, after 7-8 months of being intentional and paying close to attention to what/when/how I eat, I believe this to be the case for me personally.
If I hold my lunch and dinner and exercise constant and have a small piece of chocolate for breakfast or a fruit smoothie or a spoon of peanut butter, I more often wake up the next morning weighing less than the day before than If I were to have no breakfast at all. I understand daily weight fluctuates, but I've been consistently weighing myself daily and it's just the truth for me. I'm not saying I'll lose more weight if I eat BEC from McDs instead of skipping breakfast all together.
If you've got any good info on how you know that my metabolism doesn't slow down if I miss meals, please share (seriously)
quote:
Exercise is a very small component to losing weight. You need to track your intake with a calculator and you’ll be shocked I bet at how much you are shoving into your face.
If it wasn't clear, I was saying exercise is definitely the last piece to losing weight, not the first.
re: Never talk to the police
Posted by OMapologist on 11/2/18 at 11:13 am
Ain't no cop gonna Brendan Dassey my arse I'll tell you that right now.
re: Weight loss advice
Posted by OMapologist on 11/1/18 at 6:22 pm
I'm currently down 26 pounds since late March. I started by going low (but not 0) carb, giving myself cheat meals after every so many pounds I dropped. Gradually, I started adding more and more exercise while trying not to increase my calorie intake. I eat more carbs now than when I started, but I'm definitely still carb conscious. I also found that totally skipping breakfast didn't work for me. Personally, I think my metabolism slows and I burn calories slower if I don't eat anything until later in the day.
This is the wrong approach. You want sustainable results. Find something you can be consistent enough with to maintain. I'll report back in a year and let you know if my approach is sustainable or if I'm a fat-arse again.
TLDR
Diet and Exercise
quote:
get me quicker results
This is the wrong approach. You want sustainable results. Find something you can be consistent enough with to maintain. I'll report back in a year and let you know if my approach is sustainable or if I'm a fat-arse again.
TLDR
Diet and Exercise
re: Those of you who married money, tell me how this works...
Posted by OMapologist on 10/24/18 at 9:17 am
quote:
Since being married to her I haven’t paid for clothes, toiletries, etc
"Here son here's some triple quilted tp and a two pack of old spice. Thank's for being such a great son-in-law!"
Sounds weird... but I wouldn't be complaining.
re: Are you a Homosexual, check your fingers for the answer.
Posted by OMapologist on 10/17/18 at 9:05 am
Left hand is straight.
Right hand is gay as hell (makes sense).
Right hand is gay as hell (makes sense).
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