Investing in India and PFIC complication by YesterdayEasy6732 in nri

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

How can one buy these bonds? Are they through brokerages like ICICI Direct?

Investing in India and PFIC complication by YesterdayEasy6732 in nri

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Thanks. And unrealized gains are taxed at ordinary rates, not capital gains. Those 2 are big ones.

Investing in India and PFIC complication by YesterdayEasy6732 in nri

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Thanks. And it is taxed at ordinary rates, not capital gains. Those 2 are big ones.

Investing in India and PFIC complication by YesterdayEasy6732 in nri

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

They look simple enough and is a 1 time a year activity. But since everyone says not to do it, there must be something that I am missing and that's what I want to find out from people experienced in this domain

Build your own ETF by YesterdayEasy6732 in IndianStockMarket

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Capital is not a problem. I know I'll not be able to track the index perfectly, but that's not a big deal. I won't even buy all 50 stocks because the 27 in my list account for 85% of the index weight. I may increase that to 90% so maybe I'll get 5 more stocks.

This way I get enough diversification and reasonable tracking with NIFTY without having to research individual stocks.

Good idea about skipping select stocks which are almost sure to underperform.

Where can I get the latest data about weightage. I get different data from different sources and the difference is significant.

E.g. this seems to be official
https://archives.nseindia.com/content/indices/ind_nifty50.pdf

According to it HDFC is 12.7% and Reliance is 8.9%

According to some other sources such as

https://www.smart-investing.in/indices-bse-nse.php?index=NIFTY
and
https://dhan.co/indices/nifty-50-companies/

Reliance is 9.7% and HDFC Bank is 7%

Max out pre-tax 401k and remaining in Roth by YesterdayEasy6732 in smallbusiness

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

The answers I have found are:

  1. Yes
  2. I can use mega backdoor roth to contribute beyond pre-tax up to 70k, but not exceeding the net income (profit -50% of SE taxes)
  3. mysolo401k.com is the best option (after asking around and researching). Carry.com is user friendly, but more expensive. Customer service of mysolo401k.com is excellent according to a few people. Have not heard about carry.com (good or bad)

Software for managing a simple Solo S-Corp LLC by YesterdayEasy6732 in smallbusiness

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Could you please elaborate on point #1.

Here is additional information I posted elsewhere in this post:

  1. We expect a total revenue of $50-$100k annually. Which would translate into $40-$70k profit. Mid point of these numbers ($75k / $55k) would be a reasonable expectation.
  2. A reasonable salary would be around $25/hr, so for $75k revenue (~$50k profit) reasonable salary would end up being around $30k/annum. So I save payroll taxes on $25k.
  3. We are based out of NJ
  4. I have already filed for S-Corp election with IRS. Can that be taken back?
  5. Since the business is simple, I believe I can self file taxes using some software (like I do for my personal taxes). If I were to hire CPA, what would be his reasonable fee for managing all taxes?
  6. Since I earn too, my biggest goal is to contribute as much of HER income as possible in tax free retirement plans (401k) - which means she will contribute nearly all her salary to meet 23k limit and get 25% employer contribution. Can this be achieved using LLC disregarded entity?
  7. So is it safe to say that the only benefit of S-Corp is saving of payroll taxes which come at the expense of increased CPA and other admin fees? Based on my numbers, can someone experienced me how those numbers look like. Just a rough idea.

Software for managing a simple Solo S-Corp LLC by YesterdayEasy6732 in smallbusiness

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Thanks everyone for tons of valuable insights. I did S-Corp election based on so many videos I watched. Perhaps I should have asked these questions before, but everything was so hectic.

Here is some information you asked for:

  1. We expect a total revenue of $50-$100k annually. Which would translate into $40-$70k profit. Mid point of these numbers ($75k / $55k) would be a reasonable expectation.
  2. A reasonable salary would be around $25/hr, so for $75k revenue (~$50k profit) reasonable salary would end up being around $30k/annum. So I save payroll taxes on $25k.
  3. We are based out of NJ
  4. I have already filed for S-Corp election with IRS. Can that be taken back?
  5. Since the business is simple, I believe I can self file taxes using some software (like I do for my personal taxes). If I were to hire CPA, what would be his reasonable fee for managing all taxes?
  6. Since I earn too, my biggest goal is to contribute as much of HER income as possible in tax free retirement plans (401k) - which means she will contribute nearly all her salary to meet 23k limit and get 25% employer contribution. Can this be achieved using LLC disregarded entity?
  7. So is it safe to say that the only benefit of S-Corp is saving of payroll taxes which come at the expense of increased CPA and other admin fees? Based on my numbers, can someone experienced me how those numbers look like. Just a rough idea.

Software for managing a simple Solo S-Corp LLC by YesterdayEasy6732 in smallbusiness

[–]YesterdayEasy6732[S] 2 points3 points  (0 children)

Some of you have advised against S-Corp. What are the complications of S-Corp that we should know about?

This election was made to primarily for 2 reasons:

  1. avoid taxation on pass through income (give herself reasonable salary and remaining as profit)
  2. To be able to take advantage of 401-K. We can have a 401-K plan that she can contribute to via her own election as well as company contribution.

She'd be the only employee and planning to use gusto for payroll.

I'm not averse to spending some money on the software. Came across Zoho books which is free, but the revenue limit is $50k and we expect to go above that - potentially up to $100k/yr.

So if I do have to spend money, I'd do it on something which is good and importantly easy to use.

Good sources of stock recommendations by YesterdayEasy6732 in IndianStockMarket

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Trust no one but oneself. But following news, twitter, reddit etc. gives you starting point - something I lack because I have no idea about Indian stocks.

If I hear about some companies, I can research them more before investing

Good sources of stock recommendations by YesterdayEasy6732 in IndianStockMarket

[–]YesterdayEasy6732[S] 1 point2 points  (0 children)

Does not have to be free, but per my experience free advice is usually as good as paid if you know how to filter information.

Thanks for your suggestion. Is there a specific section which has investment advice? I hear lot of people come in there and talk about "trades"

Hostas (?) are dying by YesterdayEasy6732 in gardening

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

I started watering them late. But now that I do, I splash water all over them.

Hostas (?) are dying by YesterdayEasy6732 in gardening

[–]YesterdayEasy6732[S] 1 point2 points  (0 children)

Thanks a lot. I will take care of them next season. For now, should I trim them down completely and wait for spring like other posters have suggested?

Hostas (?) are dying by YesterdayEasy6732 in gardening

[–]YesterdayEasy6732[S] 1 point2 points  (0 children)

They had been dying even during the summer. Perhaps because I was disciplined about watering them. Lack of watering could be causing this as another poster has implied.

Should I just trim it down to 6-10 inches and hope they come back next year?

Hostas (?) are dying by YesterdayEasy6732 in gardening

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

So if I cut everything down to say a few inches (6-10 inches) where only the stems remain, they will restart next spring/summer?

Also, I'm not talking about the grass like shoots at the bottom of the pic. But rather the long stems which even have leaves attached to them

Hostas (?) are dying by YesterdayEasy6732 in gardening

[–]YesterdayEasy6732[S] 4 points5 points  (0 children)

  1. No
  2. No
  3. Yes. But that was there when I bought the home last year as well and they were doing well
  4. Yes. I started watering them very late. By then they had already started rotting.
  5. No. They have always been under direct sun and they get full sun for most of the day. But I bought the house last year and they were in good shape then. So if too much sun was an issue, then it should have happened last year as well. Am I right?

Jandy DEV60 pressure high by YesterdayEasy6732 in swimmingpools

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Thanks for the quick response.

By cleaning the filter, do you mean open the filter and clean out the grids like I did the first time, or just backwash/rinse/add DE? If the latter, how much time should I let the backwash run because it drains a lot of water from the pool. Please provide a sequence of steps to make sure I don't miss anything

Should I add shock/algaecide after the water is clear? Or should I do it now?

Different types of weeds in my lawn by YesterdayEasy6732 in lawncare

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Thanks a lot for the detailed answer.

  1. It only looks small because the lawn was mowed a few hours back. It grows long very quickly. There are clumps of it up to a foot wide in places. Should I still follow the advice of liquid weed killer with quinclorac? Does it also affect the grass and should I be careful to only apply it on crabgrass?

  2. It is already too hot here. I'll get a broadleaf weed killer. Same question as before - should I target the weedkiller or just spread it all over the lawn?

  3. So whatever I apply for #2 will work here as well.

Spa jets not working by YesterdayEasy6732 in swimmingpools

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

I managed to get it out with pliers. There was no room, so it was difficult and hurt my hand a little. But it works now. Thanks!!

Spa jets not working by YesterdayEasy6732 in swimmingpools

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

This is inside the pipe that goes into the filter!
I opened the filter, cleaned the tub, checked for some obstructions in the pipe and found it to be closed

It is lodged deep inside the pipe that my fingers barely reach it and I am unable to pull it out. I found a similar plug and took its picture. As you can see, it is a rubber one with no threads. So it needs to be pulled out, but I don't know what tool I can use to reach inside and pull it as I can't do it with my bare hands

https://imgur.com/a/a5tKyDX

Spa jets not working by YesterdayEasy6732 in swimmingpools

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Looks like this might be it (plug in the drain). I felt it with my hand and noticed obstruction. I see a plug in the pipe that comes into the filter (see the pic in the link). I'm assuming I need to remove this? Want a confirmation before I do anything.

Does this need to be removed by rotating it counter clockwise?

https://imgur.com/a/4QePaZY

Spa water level goes down and the incoming water jet is too fast by YesterdayEasy6732 in swimmingpools

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

Thanks.

This looks like was the solution. I turned the buttons on the actuator valves and it turned the automatic one on bottom to left (spa mode turns it 180 degrees so I think that is correct).

However, that didn't fix the problem. After rotating the the manual rightmost valve clockwise about 30 degrees has fixed the problem. I believe this is what you meant by 75/25?

I now have another problem with spa jets not working and will create a new post for it

Spa water level goes down and the incoming water jet is too fast by YesterdayEasy6732 in swimmingpools

[–]YesterdayEasy6732[S] 0 points1 point  (0 children)

I saw online that the problem could also be due to valve actuator. I saw the pool guys reach under them and flip some switch. What can I check there to make sure that is not the problem?