I Bond rate 5/2021

[Koolau]

Anybody self-employed as a sole proprietorship folks open a treasury direct account and fund it for themselves AND their business ?

Basically being able to double the $10K annual limit.

Well, I learned something (else) today. Not sure how to proceed but...

Guess I'll have to go back into bidness. Ko'olau's Navel Gazing Emporium. Our motto: Hey YOU! Gaze at your own! YMMV

 

[Sunset]

Anybody self-employed as a sole proprietorship folks open a treasury direct account and fund it for themselves AND their business ?

Basically being able to double the $10K annual limit.

I read it, and it seems perfectly fine to do , so I now have my account and my self employment business account.
I do some self employment so it's quite legit.
My legal entity is proprietorship.

I have to wait a day or two for the money to transfer, and then I can fund my new account.

There are quite a few entities eligible to have accounts besides a personal one.

 

[Born2Fish]

Thanks all for the heads up!

I set up accounts and bought $15k ($10k DW, $5k me). I didn't have enough free cash to go 10k each.

What a great deal.

 

[aja8888]

I joined the crowd and bought a $10K I bond Monday. Made my daughter the beneficiary - POD registration (tricky to do that exercise). I'll keep buying them and someday she will be able to cash them in. I figure at 78, I estimate 10 years of this before I move on.

 

[NW-Bound]

I missed the early I-bond period when it was paying as high as 3.6% above inflation, but did get some at the 1.2% fixed rate in the early 2000s. Back then, a couple could get $60K each year on electronic I bonds, plus another $60K on paper I bonds. I stopped buying when the fixed rate went to 0.

Looking back at my records, I had as much as 10% of investable assets in I bonds in 2007. It got outgrown by the equity portion, and is now only 5% of investable assets. And that in spite of the WR taken outside of the I bonds.

 

[Sunset]

I joined the crowd and bought a $10K I bond Monday. Made my daughter the beneficiary - POD registration (tricky to do that exercise). I'll keep buying them and someday she will be able to cash them in. I figure at 78, I estimate 10 years of this before I move on.

I assigned beneficiaries on my personal I bonds.

This cannot be done on entity (trusts, LLC, etc) I bonds probably because by definition those entities don't die.

 

[aja8888]

Question: When one wants to take advantage of the $5000 IBond through a tax refund,is the me mechanism to request that IBond done through tax software such as Turbo Tax or H & R Block?

 

[londo]

Tax refund IBond purchase is done with IRS form 8888, however you submit your taxes.

 

[aja8888]

Tax refund IBond purchase is done with IRS form 8888, however you submit your taxes.

So when do you send this form in?

 

[Sunset]

So when do you send this form in?

According to the IRS it's done when you send in your return:

https://www.irs.gov/refunds/using-your-income-tax-refund-to-save-by-buying-us-savings-bonds

I'll be interested to know if folks have done this via H&R Block tax software as well.

<edit> I found H&R Block where they say you can pick it, but don't actually tell the mechanics of how to pick it.

https://www.hrblock.com/tax-center/irs/refunds-and-payments/ways-to-receive-tax-refund/

 

[aja8888]

According to the IRS it's done when you send in your return:

https://www.irs.gov/refunds/using-your-income-tax-refund-to-save-by-buying-us-savings-bonds

I'll be interested to know if folks have done this via H&R Block tax software as well.

Thanks, I file electronically so I would hope that Form 8888 is an option in the software.

 

[lucky penny]

Thanks, I file electronically so I would hope that Form 8888 is an option in the software.

I've done it through Turbotax. At some point they list the options for how you want to receive your refund (check, direct deposit, etc.) & one of the choices is I bonds. When you choose that, Form 8888 is generated automatically.

 

[aja8888]

I've done it through Turbotax. At some point they list the options for how you want to receive your refund (check, direct deposit, etc.) & one of the choices is I bonds. When you choose that, Form 8888 is generated automatically.

Thanks!

 

[finnski1]

Is there any way to purchase these in Roth IRA's?

 

[Dash man]

Yes,if your Roth IRA custodian supports it.

Link to Federal Register

 

[finnski1]

Yes,if your Roth IRA custodian supports it.

Link to Federal Register

Thank you!