Thanks, that makes sense (bricej13)

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Jan 10, 2019
10:28:19am

bricej13 3rd String

Thanks, that makes sense

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bricej13

Bio page: bricej13
Joined: Mar 24, 2011
Last login: Jun 18, 2019
Total posts: 351 (5 FO)
Recent feedback given: 2 1
Recent feedback received: 1

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Messages

Author

Date

Investing, donation in kind, donor advised funds, college savings, tithing doubl

Acorn

Jan 10, 8:34am

The implication of doing a DIK and then using the tithing cash is that you are

supertux

Jan 10, 8:46am

For a given year, I have paid in just about every month of the year

Acorn

Jan 10, 8:55am

With the new tax law do you only do your DIK every other year?

supertux

Jan 10, 2:08pm

When it changed last year in December, I quickly made a direct DIK

Acorn

Jan 10, 3:12pm

Serious question: How can I keep this post forever?

PabloSanchezz

Jan 10, 9:00am

From the Board menu, you mark it as a favorite.

Acorn

Jan 10, 9:03am

My dad did this all growing up and I understood the advantages then, but he passed away before I was ready to implement

mvtoro

Jan 10, 9:05am

So it sounds like you (obviously) have a large enough account in your brokerage

TheLoneCougar

Jan 10, 9:08am

Your questions are excelent

Acorn

Jan 10, 9:26am

I have a question that you may be able to answer

rtNelson

Jun 9, 12:24pm

Woops, was meant for main thread.

rtNelson

Jun 9, 12:26pm

What do you do for tithing when the market is down?

bricej13

Jan 10, 9:10am

If you are investing over the long term, once you have a base

Acorn

Jan 10, 9:32am

Thanks, that makes sense

bricej13

Jan 10, 10:28am

Don't forget about the 0.00 expense ratio Total Stock Market Fidelity fund!

daxman

Jan 10, 9:18am

There are a number of houses that have a few zero cost index fees

Acorn

Jan 10, 9:35am

Help me understand reinvesting dividends

Styro

Jan 10, 10:34am

I was also interested in this. It resets the whole lot? Seems odd

BYUFootballisBack

Jan 10, 10:54am

It resets the position as a whole

Acorn

Jan 10, 1:06pm

I asked my accountant this question after I joined the Acorn cult

SaturdaySpecialDay

Jan 10, 11:26am

So basically the DRIP dividends don't reset the lot clock, but its more work or

BYUFootballisBack

Jan 10, 11:35am

Correct. l specify the date of purchase and # of shares so that, if audited, the IRS has no basis to conclude

SaturdaySpecialDay

Jan 10, 11:41am

I keep records including the DIK form I send to the Church. My accountant (who is not a member of the Church) thinks

SaturdaySpecialDay

Jan 10, 11:42am

My understanding of what Acorn wrote was that the whole lots date gets reset to

BYUFootballisBack

Jan 10, 12:10pm

Posting an update on this thread after talking to my brokerage about how to track which lots get donated for tax purpose

SaturdaySpecialDay

Jan 17, 1:16pm

This should answer the question about "do I reset the clock each time I reinvest dividends?" (no, as long as

SaturdaySpecialDay

Jan 17, 1:19pm

The reason I don’t reinvest is I typically exit positions

Acorn

Jan 17, 1:28pm

Yup I see what you were saying and agree there are multiple ways to do this. Thanks again for bringing this to CB.

SaturdaySpecialDay

Jan 17, 3:07pm

I feel like I need a phone call with one of you experts to understand all this.

TheLoneCougar

Jan 10, 12:21pm

Here's the thing. Start by investing. Frankly, that is the hard part

Acorn

Jan 10, 1:02pm

No worries there.

TheLoneCougar

Jan 10, 1:08pm

I can already tell by your questions you are going to rock this thing

Acorn

Jan 10, 1:20pm

That almost made me spit out my water when I laughed.

Acorn

Jan 10, 1:27pm

It is more personal preference than anything. Some things to think about

Acorn

Jan 10, 12:58pm

Question on using a Donor Advised Fund instead of doing the DIK directly to the

Walt Longmire

Jan 10, 1:52pm

I checked the fees at Schwab. IIRC, it is 0.6% and my interest rate

Acorn

Jan 10, 3:19pm

Thanks for the details on the logistics of how it works. That's helpful in

Walt Longmire

Jan 10, 5:27pm

does the DAF contribution need to be at least 12 months old like DIK for the

hdogg

Jan 10, 2:58pm

No, once you put it into the DAF you immediately take the tax deduction. Once

supertux

Jan 10, 3:09pm

my understanding with DIK under 12 months is you pay taxes on the short term gai

hdogg

Jan 10, 3:24pm

<< Deleted >>

supertux

Jan 10, 3:28pm

A DIK can be made to a DAF, or a DIK can be made to the church.

Acorn

Jan 10, 3:21pm

say you donate stock worth 10k then appreciates to 15k, you're better with DIK

hdogg

Jan 10, 3:54pm

Tax avoidance is illegal, this is a legal tax deduction 😉 I know what you meant

BYUFootballisBack

Jan 10, 4:08pm

I'd say tax avoidance is perfectly legal. It's finding the most efficient way to

Walt Longmire

Jan 10, 5:30pm

I knew there was another word I was mistaking avoidance for

BYUFootballisBack

Jan 10, 8:29pm

Man, I wish I had remembered this stuff a couple weeks ago.. 🙁

timpjynx

Jan 10, 5:50pm

Seriously, thank you for doing this. People like you are the only reason

Machiavelli

Jan 11, 11:14am

I'm still trying to wrap my head around all of this

spidey24

Jan 11, 4:36pm

It is difficult to recommend a specific plan without more details

Acorn

Jan 12, 9:16am

Also works really well if your company has an ESPP plan. I did DIK for the first

Cougar8Duck

Jan 11, 11:37pm

ESPP's are great. Two things to remember with Employee Stock Purchase Plans

Acorn

Jan 12, 8:57am

Yes

Cougar8Duck

Jan 12, 10:40am

ESPP regulations are determined by the company. I have no mandatory holding

TheLoneCougar

Jan 12, 1:04pm

Yes and no. That's great that they don't chose to force you to hold until

Cougar8Duck

Jan 12, 1:24pm

Does bunching tithing benefit you even if you easily clear the SD every year

jkccoug

Apr 1, 12:16pm

To put it simply, if your SALT plus your mortgage interest is less than

Acorn

May 5, 8:03pm

Using DAF for missions, fast offerings, etc.

PresidiCoug

Apr 1, 12:29pm

That is correct. Having been through the process now several months (DAF

Acorn

May 5, 8:06pm

Schwab DAF-- do I need to get my "stake" listed or can I just make donation to

jkccoug

May 6, 12:40pm

Nevermind-- I see answer is above.

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