Go to Jeff Salisbury LWGate Home Page.From: persfin-digest <owner-persfin-digest@shore.net>
Subject: persfin-digest V4 #122
Date: Sat, 24 Jan 1998 16:25:32 -0500 (EST)
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persfin-digest Saturday, January 24 1998 Volume 04 : Number 122
IN THIS ISSUE:
ADVERTISEMENT: domainTNG
Re: How To Choose A Mutual Fund
capital gain distributions
Inheritance Tax Question
Re: Inheritance tax question
RE:Credit Card Late Charges
Re: transfer of 403B
Re: Investments for a Baby
Re: What percentage of Co.'s are in business after a crash?
28% cap gains distributions
re: CD for 10 yrs..
Re: Hume Super Investor files
The in-between years - Best Investment?
money garden?
Re: Roth IRA Limit?
Re: Roth IRA limit?
Re: question about short term capital gain distributions
best long distance rates
Can I set up a medical care payment plan for my employees??
AT&T
Individual Dental Insurance
Partnership Agreement Help Needed
401K student loan quesiton
Recommendations In Cancun or Cozumel
Best Personal Finance Book?
Roth IRAS
RE: Credit Card Late Charges?
Oregon or Washington?
Real-Estate Taxes Question
How To Get My Money Back? (Forged Money Order)
S&P 500 Index fund & Value Fund suggestions ??
How do u organize your finance records
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Date: Sat, 24 Jan 1998 15:49:31 -0500 (EST)
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------------------------------
Date: Sat, 24 Jan 1998 15:52:45 -0500 (EST)
From: "Rao, Bharat" <bharat@scr.siemens.com>
Subject: Re: How To Choose A Mutual Fund
>How do you folks go about choosing a mutual fund? Do you actually analyze
>the individual investments or look at the past profit rates?
No magic formula. One option is to read a lot, stay up to date, and try
to beat out the experts by moving stuff around like crazy. Get an
investment newsletter, and good luck.
Option 2 (and what I'm doing myself), is to go for low-cost Index funds
- -- I use Vanguard -- probably the lowest fee structure. Begin with a
basic index fund that's going to be the major part of your portfolio --
either an S&P500 fund, or one that invests in the total stock market (may
be better if you believe that large cap stocks are overpriced right now).
Then diversify your portfolio with more index funds depending on your
wishes -- either into small cap funds, or into the S&P500 value/growth
index, but keep about 50% of your $$ in your basic portfolio. Maybe into
the NASDAQ, or the Russell 5000.
At some point (probably not now) add some international exposure (I have
no recommendations here); put no more than 20% of your $$ as "play money"
if you must and try more exotic vehicles, like industry-specific funds
(Health).
This is boring, you won't make as much $$s as the whiz kids, but then
you won't get too badly burnt either. I believe in the long run, the
mutual funds will go about the way of the stock market -- if the market
dies, well most equity funds will, other than if you switch to shorting
the market at just the right times. But then aside from a few geniuses
like Lynch and Buffet, not too many people get it consistently right.
And most importantly, I don't have to worry about my investments. Thats
worth quite a bit to me... Many others have done better, and will do
better in the future, but this "conservative aggressive" strategy works
for me. Your cup of tea may differ.
Caveat emptor of course. This would have worked great in the 90s so
far, but in the future who knows.
And if you want to know more about mutual funds, read John Bogle's
absolutely brilliant book "Bogle on funds". Another, somewhat simpler,
and much more broad book on general money management, is Jane Bryant
Quinn's "Making the most of your money" (make sure you get the 1997
edition).
R. Bharat Rao, E-mail:bharat@scr.siemens.com [PGP WELCOME]
Adaptive Information & Signal Processing, Siemens Corporate Research
US Mail: 755 College Road East, Princeton, NJ 08540
------------------------------
Date: Sat, 24 Jan 1998 15:53:25 -0500 (EST)
From: JOHN WALTERS <wjohn@digital.net>
Subject: capital gain distributions
line 13 of 1040 from said capital gain or loss attach schedule d page d-1
of instructions use schedule d for capital gain distributions must be
reported on sch.d in all case page 69 of publication 17 report capital
gain distributions as long term capital regardless of how long you
owned them
capital gain distributions will be show in box 1c of form 1099-div
SHEDULE D NOW HAS 54 LINES
i still trying to find more info. on it
------------------------------
Date: Sat, 24 Jan 1998 15:56:49 -0500 (EST)
From: Jim_Shoenfelt@USFG.COM
Subject: Inheritance Tax Question
If the deceased Betty Rubble wills 15% of her $200,000 estate to her nephew
BamBam Flintstone, should Bam- Bam's inheritance be subject to any taxes?
e.g. Income tax (Federal/State)? Inheritance tax?
Wilma (Bam-Bam's mom) is the executrix of Betty's Estate. Wilma's lawyer
told her that the inheritance will be subject to inheritance tax and that
the $600,000 exemption applies to spouses only.) This sounds wrong to me.
Any answers or resources would help, as Wilma asked me to look into it for
her.
Jim_Shoenfelt@USFG.com
------------------------------
Date: Sat, 24 Jan 1998 15:57:52 -0500 (EST)
From: "Mark J. Welch, Attorney at Law" <markwelch@ca-probate.com>
Subject: Re: Inheritance tax question
The lawyer's answer is wrong for California or federal law, but I suspect
that there is more involved than you are saying. A few states still have
inheritance taxes on smaller estates, and may provide an exemption for
spouses only. In addition, when you say the estate is $200,000, I assume
that you mean "her estate for federal estate tax purposes" it is possible
that you mean "her probate estate," which generally is much smaller.
For example, if the probate estate is $200,000 and there is also
a $200,000 tax-deferred retirement account that passes by the
beneficiary designation, plus a $250,000 life insurance policy
passing to a named beneficiary, then an estate tax will be due on
each part of the estate (usually pro-rated).
The bottom line: if someone thinks they are getting bad legal
advice, consult with another attorney.
------------------------------
Date: Sat, 24 Jan 1998 15:58:16 -0500 (EST)
From: dmak@tma-net.org
Subject: RE:Credit Card Late Charges
While I know that most credit card agreements now include a late
charge if a payment isn't received by the due date, none of my credit
card companies has charged me this infamous late fee (unless my
payment is posted after the statement closing date, which is usually
5 days after the due date).
I suggest you write a letter to your credit cards and ask for a
waiver as well as other suggestions on how to ensure your payments
arrive and post on time!
------------------------------
Date: Sat, 24 Jan 1998 15:59:09 -0500 (EST)
From: "Ken Meinken" <kmeinken@bigfoot.com>
Subject: Re: transfer of 403B
> I filled out my forms in early November; they were received by Vanguard
> on November 26, so I assumed that everything was fine.
>
> On January 2 I received a letter from Fidelity, dated 12/24/97 saying
> they could not process this without my signature (my signature was on the
> form submitted), so now it is 2 months later and still nothing has been
> done.
>
> AND....look what has happened to Select Computer in the last two
> months...my shares are now worth $20 less...and still going down.
>
> Is there anything I can do about this? I have written the sec, they say
> look for an answer in a month. I feel that Fidelity really drug its
> feet
> on this one and I am just sick about it as this is my retirement money.
>
Linda,
interbroker transfers normally take a LONG time. It's a fact of life
in the brokerage community.
Of course, if Select Computers would have done well, then you would
be happy, right? You don't really know where the delay was. (All
that said, I must say that I've gotten fed up with Fidelity's poor
customer attitude.) Of course, you could have put the money into
Fidelity's Index fund.
Ken
------------------------------
Date: Sat, 24 Jan 1998 15:59:39 -0500 (EST)
From: "Ken Meinken" <kmeinken@bigfoot.com>
Subject: Re: Investments for a Baby
> My mother-in-law also has opened an American Century Gift Trust for both
> girls. Tax free, but the money belongs to them at 18.
American Century's Gift Trust is not really tax free. They pay the
taxes before distribution. You don't have to pay the taxes, but they
are still paid.
Ken
------------------------------
Date: Sat, 24 Jan 1998 16:00:23 -0500 (EST)
From: "Ken Meinken" <kmeinken@bigfoot.com>
Subject: Re: What percentage of Co.'s are in business after a crash?
> From: Hjc66@aol.com
>
> Hello Persfiners....
>
> I am a firm believer in the power of "Buy and hold" when it comes to stocks,
> and I am familiar with the numerous studies that tout the need for discipline
> in long term investing. But I'm wondering.... in the case of a prolonged bear
> market, or a depression, what is the percentage of publicly traded companies
> and mutual fund companies that are in business at the end of the down period?
> Has anyone ever done a study? I know that "the market" eventually "came back"
> after the depression, and historically "the market" has done x percent a
> year..... but none of that mattered if you were unfortunate enough to have a
> portfolio that consisted of American Buggy Whip, Amalgamated Iron, Union
> Steam Locomotive, and Dracut Textiles...... What are the chances,
> historically, that even a well-diversified stock and mutual fund portfolio
> can be entirely wiped out, never to return?
>
> Not a bear, just wondering from a scholarly standpoint.
>
> Harry Clark
Harry,
I think you are confusing two different topics: company quality and
bear markets.
The vast majority of well run companies (which are the only ones you
want to invest in with a buy and hold strategy) will continue pretty
much unaffected by what the stock market does. Buggy Whips were in
trouble with or without the '29 crash.
There is also quite a difference between "well-diversified" and "well
selected". You can diversify with poorly run companies. I think
"well diversified, well selected companies" are low risk for long
term failure.
Really, the chances of losing **everything** is virtually zero if:
1) you don't panic and sell at the bottom (easy to do) AND
2) you are not operating on margin.
One of the major problems of the '29 crash was that many people were
heavily margined. Back then, you only had to put up 10% of an
investment. If your holdings dropped 10%, you were wiped out, even
if the stocks recovered the next week. Of course, when a lot of
people were sold out at the 10% drop, there were no buyers, so the
market continued down. Today, margin is not so generous. It would
take a 50% market drop to render heavily margined portfolios
worthless. Today, when we get a 10% drop, the buys jump back in,
they have the resources to do so. They didn't back in '29.
Ken
------------------------------
Date: Sat, 24 Jan 1998 16:01:05 -0500 (EST)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: 28% cap gains distributions
I don't know what other fund families are doing, but I just got my
1099-DIVs from Vanguard today. They have explicitly reported the
mid-term gains on the form (saving you the trouble of having to
multiply cap gains distributions by percentages given in a
supplementary sheet), even illustrating where on your tax forms the
numbers go.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Sat, 24 Jan 1998 16:01:38 -0500 (EST)
From: Fred Schiff <fschiff@banet.net>
Subject: re: CD for 10 yrs..
>>Discover is offerring 6.74% for 10 yrs on their CDs. I am retiring next year
>>at 62 and looking for income, would this be good deal?
>
>Surrrrrrre........then you won't have *any* income for 10 yrs.
>
Um sorry ignore that part. I thought all CDs only pay the principal
out at the end of the period. Some CDs pay out money periodically.
I still think a person should always own at least some equities.
Fred Schiff (fschiff@banet.net)
------------------------------
Date: Sat, 24 Jan 1998 16:02:35 -0500 (EST)
From: "Zain Shammas 312.557.2815" <SHAMMAS.ZAIN@ntrs.com>
Subject: Re: Hume Super Investor files
Steve Brodeur <sbrodeur@draper.com> asked about the Hume Super Investor files.
Steve, if you want to learn more about commodities and various strategies then
these files are just right for you. The strategies work and sometimes they
don't, depending on market forces, etc.
YOU WANT TO LOSE MONEY, THEN GO FOR COMMODITIES. I've said it before whenever
someone asks about commodity trading in Persfin, and I'll keep saying it:
"Stay away!"
If you still want the files, then contact me directly. I'll be happy to
unload all the Superinvestor files you want. May be I can get back some of
the money I lost trading -not!
Personally, and IMHO, Hume is doing people a deservice. They have some good
financial educational material, the SuperInvestor files included, but
targeting people who can not afford to lose certain amounts of money is
shameful. To their credit and, as required by law, they do state that
commodity trading is risky and that you could lose money. Maybe the
disclosure law should be re-written to say "... you will lose money."
BTW, they sent me the same advertisement they sent you. Didn't they know they
sold me their lot 6 years ago? I assume the files might be updated, fine
tuned, etc. The TED spread is a good strategy. I made money from it here and
there, but for awhile it went no where. Why don't you get it and then STOP;
as they said, the first one is free!
------------------------------
Date: Sat, 24 Jan 1998 16:03:53 -0500 (EST)
From: Jon King <kingjo@CS.ORST.EDU>
Subject: The in-between years - Best Investment?
Greetings.
What is the best investment (type) to provide for the years between
"retirement" and age 55/60 when we will have unlimited access to our
IRA's/401(k)s/etc.
By my calculations using finance calculators (and very conservative
assumptions, 8% return, 3% inflation, etc) with our current tax-deferred
contributions alone we will be able to retire at age 50 with plenty of
income (plus some, if the years betweeen are ok!). However, we won't
actually be able to access that money at that point in time without
penalties. At the same time, I want to start investing to move that
retirement age *forward* a few years (goal 45, hope 40).
We have the option of investing a *lot* more money in tax deferred
instruments (I can go from 12-17% this year in my 401(k), my wife hasn't
even started her 403(b) which she's eligible for, etc), but I'm leary of
committing even more money to "untouchable" state when we should have
enough in the deferred accounts already.
The issue I guess is whether or not it is better to invest as much as
possible in the tax deferred vehicles, and plan on paying the penalties
when we withdraw the money, or paying taxes now and investing in index
funds or other tax _managed_ vehicles.
Any general wisdom/ideas?
Thanks,
Jon
------------------------------
Date: Sat, 24 Jan 1998 16:04:28 -0500 (EST)
From: "K.W. Ng-R29984" <K.W._Ng-R29984@email.sps.mot.com>
Subject: money garden?
Does anyone have any positive/negative experience trading forex with
Money Garden using the internet? I took a look at their demo and it
seems very good.
KW
------------------------------
Date: Sat, 24 Jan 1998 16:05:24 -0500 (EST)
From: Jim Garcia <jimgarci@pacbell.net>
Subject: Re: Roth IRA Limit?
> From: Roberta Healey <rhealey@MAIL.COLGATE.EDU> asked
>
> I got some Roth IRA material from a mutual fund recently and it stated
> that the combined yearly income limit for traditional and Roth IRA's was
> $2,000 or 100% of your income, whichever was less.
> Is this right? You can't open a Roth IRA if you already have $2000/year
> going into traditional IRAs (unless you do a rollover)?
Yes, your allowable total contribution in any 1 year to an IRA
is $2000. You could split it (1/2 to Roth, 1/2 to deductible)
if you wanted, but $2k is the limit. This does not apply to the
education IRA.
Jim Garcia jimgarci@pacbell.net
------------------------------
Date: Sat, 24 Jan 1998 16:05:47 -0500 (EST)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: Roth IRA limit?
>Is this right? You can't open a Roth IRA if you already have $2000/year
>going into traditional IRAs (unless you do a rollover)?
That is correct. The $2000 limit is a unified limit across
traditional and Roth IRAs. If you put $2000 in a traditional IRA in a
given tax year, you will be unable to make a contribution to a Roth,
and vice versa. Of course, you could put $1000 in each or any
combination that adds to $2000.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Sat, 24 Jan 1998 16:06:24 -0500 (EST)
From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: question about short term capital gain distributions
>> Taxwise, mutual funds DO NOT make short-term capital gain distributions.
>> Yes, your fund will show a ST gain distribution on its year end statement.
[snip]
>This is correct, in theory. But I noticed that in this year's year-end
>statements and 1099 from some of the mutual funds, they have used "ST Capital
>gains" for the 28% capital gains; and the "LT Capital gains" for the 20%
On year-end statements the "ST capital gains distribution" is really
that. It is an income distribution allocable to net short-term gains
realized by the fund.
However, on a 1099-DIV there is no place for short-term gains. They
are, by law, bundled in to Box 1b "Ordinary Dividends" and are not to
be broken back out. For 1997, Box 1c "Capital Gain Distributions"
contains ALL net mid and long-term realized gains, and the fund will
either directly provide you the mid-term gains elsewhere on the form
or will send you a sheet saying what %age of Box 1c is mid-term gains.
For 1998 form 1099-DIV has been revised to have a separate box for
mid-term gains.
Rich Carreiro
rlcarr@animato.pn.com
------------------------------
Date: Sat, 24 Jan 1998 16:07:11 -0500 (EST)
From: "alkon" <alkon@hal-pc.org>
Subject: best long distance rates
Just to add another coal into this discussion about long distance
rates. This year after many years with MCI and AT&T, I became aware
of another outfit which provided 9.9 cents/min interstate rates, 24
hours per day, and without a monthly charge. However, I switched
from the other providers because of the attractive intrastate (Texas,
in my case) rates as I do most of my long distance calling (I have a
son in college) in state). Instead of paying 15 cents/min with MCI
anbd AT&T, I am paying 10.9 cents/min. I also have an 800 number
that costs 10.9 cents/min.
I do have a connection with the organization and I would be happy to
set anyone up who wishes to take advantage of this opportunity. It's
just a great deal... and that is why I decided to switch.
Al Kondo
------------------------------
Date: Sat, 24 Jan 1998 16:07:34 -0500 (EST)
From: "alkon" <alkon@hal-pc.org>
Subject: Can I set up a medical care payment plan for my employees??
I have a small business with my wife as my only employee. I would
like to set up a plan to pay for all of her (and her dependents)
medical care expenses as a benefit of employment. I know this can be
done and I have discussed it with my accountant. He gave me an
outline of a 'plan' that he outlined for another client and suggested
that I just adjust it for my purposes. Is this all there is to it??
What are the IRS rules about this matter? Where can I get more
information about such plans? Can I administer this by myself, or do
I have to involve a third party?
I would appreciate it replies could be sent to my e mail address
as well as posted here.
Thank you, Al Kondo
------------------------------
Date: Sat, 24 Jan 1998 16:08:18 -0500 (EST)
From: Chris Yohn <yohn@mcbi-34.med.nyu.edu>
Subject: AT&T
>> ..............................
>> I currently have $0.10/min. 24 hours a day with no monthly fee from AT&T.
>> Normally, there is a $4.95 monthly fee, but if you ask, they will waive it
>> for 6 months. I'm planning on calling back at the end of 6 months and
>> getting them to waive it again.
>> Chris Yohn
>> yohn@saturn.med.nyu.edu
>>
>
>Is this a residential phone? What is the name of the "plan" for this rate?
>
>TIA
>Chen
Yes, it is a residential phone. The name is "One Rate Plus." You can find
more info on the plan on AT&T's web site at
http://www.catalog.att.com/cmd/onerate/ They do not mention that they will
waive the fee for 6 months - no surprise there. But all you have to do is
ask. - Chris Yohn
------------------------------
Date: Sat, 24 Jan 1998 16:10:07 -0500 (EST)
From: Bene Fits <BeneFits@aol.com>
Subject: Individual Dental Insurance
Someone has recently asked about individual dental insurance and the answers
have all come from people not selling the product so here are two answers -
1. There are over 30 Insurance Companies offering Dental Insurance, and fewer
every day! I do not know of anyone selling the coverage to an individual out
of work! As long as you are employed you are all set! One of the best
Carriers is Gerber Life. They offer "The Solid Plan," a simplified, Voluntary
Dental plan for Groups of 1 or more. It used to be available in New York, but
no more, which brings me to
2. Insurance products(Companies) are regulated by each States Insurance
Department. Because of laws set up by each States' Legislature, Insurance
Companies decide to offer product in that State or not (ie, check out how many
Carriers are offering Health Insurance in New Jersey these days). It is very
important to anyone looking for any type of Insurance coverage
(Life,Health,LTC,Dental,etc) which State they live in! If you are reading
this than you have the capability to find out who is selling the coverage you
want in the State you live- go to
http://www.insweb.com/agents, answer the questions and you will get the names,
addresses and phone numbers of Agents in your area to call on.
Hope this helps all who seem to be looking for various Insurance products-
Richard Allen, CFP
The Employee Benefits Group
http://www.insweb.com/agents/tebg
Your Business OWES You-
take advantage of your Business!
------------------------------
Date: Sat, 24 Jan 1998 16:11:03 -0500 (EST)
From: KroegerD <KroegerD@aol.com>
Subject: Partnership Agreement Help Needed
I am reluctant to spend $40 on lawyers or lawyer software in order to produce
a simple partnership agreement for my wife and me. We need to form a
partnership in order to take advantage of some health insurance options.
Does anyone know of a (free or really cheap) source for such a template?
Thanks.
Dick Kroeger
KroegerD@aol.com
------------------------------
Date: Sat, 24 Jan 1998 16:11:29 -0500 (EST)
From: Kristina Miranda <Kristina.Miranda@Eng.Sun.COM>
Subject: 401K student loan quesiton
Hi
Well, first of all, I doubt you can take a loan on your 401k for school
without it being considered a withdrawl. I know many plans have strict
provisions for what you can borrow for. Like buying a house or if you are
have major medical bills or something. But lets assume that you can take out
a loan. The first question is whether or not you are going to continue
working for that company? If the answer is yes, then you will probably
start paying back the loan immediately in equal installments. Either from
payroll deductions or you can write a check every month or bi-monthly.
If, however, you have to quit work in order to go to school, most companies
require you to pay back the FULL loan within 30 days of termination. Obviously,
this wouldn't make sense for you.
You should check with your companies HR department to find out what the
rules are for your 401k plan. I would explain to them your scenario and
find out if it will work within their rules.
Good Luck,
Kristina
------------------------------
Date: Sat, 24 Jan 1998 16:17:18 -0500 (EST)
From: "mike morehouse" <mikemore@hotmail.com>
Subject: Recommendations In Cancun or Cozumel
My wife and I would like to plan a short vacation to Mexico to the area
of Cancun/Cozumel. Do any persfinners have any experience with nice
places to stay there? We don't need the nicest place but a place on the
beach that's clean and well kept.
Any advice would be appreciated.
Mike Morehouse
mikemore@hotmail.com
(Editor's Comment - I've vacationed twice in Cancun. It's great!
Cancun's totally dedicated to tourism. Two recommendations - El Pueblito,
which is a two-story hotel on the beach; and the Holiday Inn. Be sure to
take the Chichen Itza tour. Great snorkeling in Cozumel and Ixcaret (a
Mayan ruin and snorkel site). Tons of restaurants of all kinds. Also,
Cancun can be a bit cheaper than other Caribbean destinations. Even if
you go a bit less upscale, the accomodations will be fine. I'd go again.
Have fun! -IK)
------------------------------
Date: Sat, 24 Jan 1998 16:18:29 -0500 (EST)
From: "Monaghan Associates" <mai@iserv.net>
Subject: Best Personal Finance Book?
What's the best personal finance book available on the market? Any
comments on "Everybody's Money Book"?
------------------------------
Date: Sat, 24 Jan 1998 16:19:02 -0500 (EST)
From: "Wally" <youngblood1@erols.com>
Subject: Roth IRAS
Can a retired person contribute to a Roth IRA if only their spouse is
employed?
------------------------------
Date: Sat, 24 Jan 1998 16:19:48 -0500 (EST)
From: "J. Pat Martinez" <martinej@ava.bcc.orst.edu>
Subject: RE: Credit Card Late Charges?
>Leigh Menconi writes,
> Ever since my two credit cards instituted late payment charges of $20,
> it seems that my payments have been missing the due date by one day even
> if I mail it a week ahead. It's happened often enough now that I'm
> beginning to wonder if this is some kind of conspiracy to make more
> money off my account because I pay it off every month and don't incur
> finance charges. Has anyone had a similar experience?
I had a credit card from Providian Bancorp that tried to pull this stunt on me.
When I called to complain they claimed that they had a problem processing their
mail that month and they would refund the late charge. I wonder if they
credited all those other people who didn't complain about a late fee who sent
their payments on time but weren't entered in the system on time. I doubt it.
Pat M.
~ J. Pat Martinez ~ martinej@bcc.orst.edu
~ Oregon St. Univ. ~ Ph: 541-753-3557
~ Dept. of Botany and Plant Path
~ Corvallis, OR 97331
------------------------------
Date: Sat, 24 Jan 1998 16:20:44 -0500 (EST)
From: "David J. Churchill" <churchilld@worldnet.att.net>
Subject: Oregon or Washington?
(Terry Meisener needs to choose between Washington and Oregon)
Besides the lack of an income tax in Washington state, you may find that
the property taxes are lower there than across the Columbia River in
Portland (make a direct comparison between the Vancouver, WA area an the
Portland, OR area).
------------------------------
Date: Sat, 24 Jan 1998 16:21:33 -0500 (EST)
From: "David J. Churchill" <churchilld@worldnet.att.net>
Subject: Real-Estate Taxes Question
How does the 1997 tax law affect "recapture" of depreciation on rental
property which was purchased in 1982? Prior to the most recent tax
changes, recapture of depreciation was taxed, in most cases, at the
taxpayer's marginal income tax rate? Has this now been changed to some
other max rate such as 20% for long-term capital gain?
------------------------------
Date: Sat, 24 Jan 1998 16:23:05 -0500 (EST)
From: varsh <varsh@concentric.net>
Subject: How To Get My Money Back? (Forged Money Order)
Hi,
I sent a credit card payment in the form of USPS money order. It never
arrived (no, it was not certified, just 1st class stamp :( But it was
definitely cashed.
So, I had to pay my bill again (they were really nice to revert all late
and interest charges, though).
I filled in USPS tracing request and today I got a very fuzzy
photocopies from face and back of that money order. It was forged! Someone
changed "Fleet Bank" to "Flight Company" and varied my name in the "From"
field. There are usual bank's stamped records on the back, some unclear
endorsement, etc. I have carbon copy of the face side...
Tomorrow morning I will go back to the Post Office where I bought that
MO, to initiate the inquiry, but I would appreciate any advice or
suggestion.
Are there any chances to recover? It's few hundred dollars... Should I
file a police report?
I am lost...
Thank you, folks.
- -Boris
Dover,NH
------------------------------
Date: Sat, 24 Jan 1998 16:23:39 -0500 (EST)
From: "Sudhakar Vemuri" <vemuris@hotmail.com>
Subject: S&P 500 Index fund & Value Fund suggestions ??
Dear friends,
I have the following questions about my mutual funds :
1. I want to invest a S&P 500 Index fund. I like Vanguard's low
costs, but not their 3000$ initial minimum. For me, putting 3000$
is not a problem. But the swings of index may make me to buy at
the tops than at the bottoms. I am looking for a fund that has
lower costs; lower initial requirements and easier subsequent
purchases over phone. TR Price has lower initial if I chose their
asset builder. They are good at executing the purchases over
phone and money gets deducted from my local checking a/c automatically.
But their costs are 0.40% - 0.45% comparad to Vanguard's 0.20%. Seven
Seas S&P 500 fund costs iaround .20%. But
they increased the initial fund requirements to 10,000$ from
12/27/97.
My question is : Is it worth to pay the extra higher costs for
a "chance" to buy the funds on times when market takes hits. If one
were to hold the fund for longer time, will the higher costs eat the
benefit of the initial savings ?
2. My 401K plan offers S&P 500 Index fund, Medium Company Blend and
Medium Company Value, Small Cap Value and 4 Bond Funds. My portfolio is
heavy on S&P 500 as S&P 500 fund is beating all the other
offerings handily and consistently. Is it a good strategy to hold
S&P 500 fund as a major holding in 401K plan since S&P 500 funds are
supposed to tax- efficient anyway because of their low turnover, but
some dividend distributions.
3. Can you suggest some good "Value" funds in LargeCap, MidCap.
Thanks,
Sudhakar Vemuri
------------------------------
Date: Sat, 24 Jan 1998 16:24:07 -0500 (EST)
From: "Sudhakar Vemuri" <vemuris@hotmail.com>
Subject: How do u organize your finance records
Dear friends,
I am looking for suggestions on how to organize your personal
finance records - bank statements, broker statements, MF statements,
DRIP statements.
I usually, open an indexed folder and put all the paperwork in that.
At the end of the year, I rename it as "Tax Year xxx" and add my tax
paperwork to the folder and store it. But it has the problem since
my current investments are spread over the years and I need to pull the
old records again if I need to refer them.
I am looking for good suggestions and less clutter to my house.
Thanks,
Sudhakar Vemuri
------------------------------
End of persfin-digest V4 #122
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