William Perry

Comments

• Here is a bit dated online article titled How to Find & Calculate VOYA 401(k) Fees

  Post: How do Couples Rebalance with Multiple Accounts

  Link to comment from October 29, 2025

• Hi Paul, My question regarding continued use of Windows 10 was in regards to 2025 TurboTax (TT) Online and not desktop. In an updated post on 10/27/2025 TT support, among other things, wrote the following - Additionally, our customers can always access TurboTax Online via any supported web browser (many web browsers will be supported on Windows 10, regardless of whether the extended security program is active) or on mobile devices (iOS, Android).  I would think that it is likely someone who has used TT desktop would prefer that option over TT online, but I hope to be able to use the clunky Free File Fillable Forms for tax year 2025 for my filing. Is anyone else worried about a Windows 12 requiring even more computing power in the near future, necessitating another new personal computer and having to start this mess all over again? I am. Best, Bill

  Post: Heads-up for TurboTax Desktop Users (& 2025 Tax Planning)

  Link to comment from October 29, 2025

• Our asset allocation (AA) changed earlier in 2025 driven by an advancing and ongoing health event my spouse has. Our previous combined AA of approximately 70/30 is now approximately 40/60 with an outstanding home equity line of credit (HELOC) balance treated as a negative part of the bond/fixed portion of our combined AA. Like you, our various investment accounts are at a single broker. I will pay the HELOC balance down to a nominal balance in early 2026 from my 2026 RMD and other traditional 2026 IRA distributions with tax cost driving the timing of the pay down. Negative health events can and did, for us, cause fear in the acceptable AA when life events changes the willingness to bear uncertain investment risk by one or both spouses. I am now the care partner providing needed activities of daily living (ADL) for my spouse and I also expect I will no longer have any future earned income in my much more important current and future role. For me, much financial planning for the future is focused on controlling investment costs, particularity tax costs and on asset location for tax efficiency. At my age of 75 with a four year younger disabled spouse I strongly consider and am primarily concerned about the consequences for my spouse should I become unable to assist her or if I predecease her.

  Post: How do Couples Rebalance with Multiple Accounts

  Link to comment from October 29, 2025

• You can apply for the irrevocable trust EIN here - at the IRS webpage titled Apply Online for Official Federal Tax ID / EIN upon the death of your Aunt. If you click on the TRUST ICON you will see the information you will need to apply but be certain to wait until after she passes to send the request. If you have anything that goes through the estate you may also apply for for a separate estate EIN at this website. Many estates will choose a calendar year end for tax reporting simplicity purposes but are not required to do so. Trusts generally must adhere to the calendar year for tax reporting purposes. I hope this helps. Bill

  Post: Handling Aging Aunt’s Finances

  Link to comment from October 27, 2025

• If a computer does not meet the system requirements to install windows 11 for the desktop TurboTax will a windows 10 system with the ESU patch still be able to use online TurboTax for 2025 taxes? I wonder what about my future continued use of clunky Free File Fillable Forms online software for 2025 federal taxes? My guess / hope is that I will but expect I will find out for sure in 2026 when the IRS opens the 2025 filing season. I have read the IRS, new in 2024 tax year, federal direct file system will not be made available for tax year 2025 returns back in April but I have not seen certainty of what will be done. I think it will be interesting to see if the IRS will have a surge in 2025 of paper return filings because of a software company decision that obsoleted huge numbers of personal computers. Tax season 2025 is shaping up to be a great year for tax nerds. Fix some popcorn as the show will start in a few months.

  Post: Heads-up for TurboTax Desktop Users (& 2025 Tax Planning)

  Link to comment from October 27, 2025

• I agree with you Dan. My thought's are similar. Brian's Aunt is fortunate to have him looking after her and her financial matters. I also read an article today by David Enna describing potential and unspecified coming changes at TreasuryDirect (TD) that concern me. I worry what could happen if Brian got locked out of the TreasuryDirect account for an extended period of time. I specifically do not know what happens at TD upon the death of his Aunt. As a Revocable Living Trust (RLT) is typically a non tax entity that reports the earnings under the grantors SSN and reported on her 1040, I am concerned that her death could be a triggering event at TD when the RLT becomes irrevocable, a separate legal tax entity and causes a major compliance headache for Brian. Perhaps Brian should consider buying the RLT T-Bills through a major brokerage with good and timely customer service.

  Post: Handling Aging Aunt’s Finances

  Link to comment from October 26, 2025

• The most common time for a premium increase is in the month your policy first started like my Medigap plan but when the annual premium change occurs depends on the insurance company plan.

  Post: Social Security COLA announced this morning.

  Link to comment from October 25, 2025

• Hi Doug, I have typically gone with the higher cost premium drug plan based on the following reasoning- Example - Using the Medicare Part D search tool for just Wixela (2026) for my zip code I get a total annual cost of $1,762.71 Estimated total drug + premium cost My 2026 annual premiums total $1,431.60 ($119.30/month). A lot decisions depend on the tiers of the drugs one takes and how many different high tier drugs you take. I try to look at my total expected costs and make my Part D plan decision including my unexpected future additions to my drug list. Those unexpected / unknowable future drug needs causes me to lean towards the more comprehensive (and higher premium cost) drug plans. Just my thinking for me. Bill

  Post: Social Security COLA announced this morning.

  Link to comment from October 25, 2025

• I think it is important to note, my understanding, that the $2,100 2026 out of pocket cap only applies to prescription drugs that are included in your Plan D plan coverage. For me, the cost of the covered drugs is a secondary consideration. Thus, using the Medicare drug plan review tool for the upcoming year is critical to my decision to review annually.

  Post: Social Security COLA announced this morning.

  Link to comment from October 25, 2025

• Great topic. The IRS has a webpage titled 401(k) plan fix-it guide - Eligible employees weren't given the opportunity to make an elective deferral election (excluding eligible employees) which gives additional detail about the type of mistake your employer made and how it needs to be fixed. Employer's take such corrections deadly seriously as the qualification of the plan can be impacted for such failures.

  Post: Oops!

  Link to comment from October 25, 2025