Personal Finance Got laid off and now the company that laid me off is trying to hire me back at a discount. |
- Got laid off and now the company that laid me off is trying to hire me back at a discount.
- The check you get back from the government is a tax REFUND, not a tax RETURN.
- In February, the immediate effects of the Trump tax cuts will take effect, resulting in an increase in take home pay for average households.
- Incredibly frustrated. Employer has taken away our company vehicles and is now forcing us to use personal vehicles for daily work, what options do we have?
- Employer hired me for one job, assigned me a more advance job, and my colleagues are making 20k more then me and we’re hired for the same position. New to me, not sure how to get out of this situation.
- US citizen, been living (and working) abroad since 2014. I quit my job in April and started working for myself. I'm confused as hell about taxes.
- 2003 Honda Civic EX True Cost of Ownership
- New employees are making more than me.
- Reminder: It's free to fill out your information on TurboTax, HR Block etc. Use this to verify any lesser quality free software you use.
- Major medical debit. Debating bankruptcy but unsure....
- How to deal with "Send salary requirements in cover letter"?
- Wife's student loans are causing us to have a revolving monthly negative balance. (US)
- How to do taxes if I only made $79.28 last year.
- Got hit with huge medical bills
- My company is raising our 401k matching, but we think it's actually a decrease.
- Owe $2,000. First Time Filing.
- My mom [52] has metastatic breast cancer. What are her options for insurance once on disability?
- Rookie IRA mistake (Dont' do this if you have a new IRA)
- Random $295 Deposited In My Checking Account
- Just found out Credit Karma didn't file my taxes last year even though I have an email confirmation from them. What do?
- Tax tip: Read the instructions in the 1040 instruction booklet for EACH LINE on your 1040. Many people I talked to are confused on line 10.
- Father-in-law is trying to get me to buy his house to protect his investment due to a likely inevitable bankruptcy. Wat do.
- I plan to cosign a car loan with my fiancee for $30K. If we later apply for a mortgage, do we each have $30K in debt or $15K in debt in the eyes of the mortgage lender?
- What to do in regards to upcoming dramatic minimum mage increase
| Got laid off and now the company that laid me off is trying to hire me back at a discount. Posted: 31 Jan 2018 05:08 AM PST Three months ago I was laid off as part of a 60 person lay off in a small company of 125 people. I do Occupational Health and Safety work as I was the Manager. I was given unemployment; been searching for jobs. Fast forward 3 months, tax bill passed, etc. I get a phone call from the president of the company asking me to come in because he has an opportunity. He tells me things are picking back up and the company needs me back but he's trying to shop me at a discounted rate. I had been with the company 6 years and he says he wants to give me 20 hours at 60% of what I was making to do consulting work for 4 months until my lease is up. This seems like a super low ball offer especially because they don't have to train anyone, I already know all of the employees, I am familiar with their policies as I wrote many of them. Also after 4 months I cant get back on unemployment and having taken such a drastic pay cut I wouldn't be very well equipped to ask for more money in the future. I feel like this is a slap in the face and I want to counter offer their 60% slap with a 125% slap back. Does this seem unreasonable?? Just seeking some guidance. Thanks yall! Update: I weighed in at 250%. Haven't received any response it's been a couple of hours since I sent my proposal. I had to run the numbers several times. My head hurt. [link] [comments]  |
| The check you get back from the government is a tax REFUND, not a tax RETURN. Posted: 31 Jan 2018 12:46 PM PST It's not free money from the government. It's money you paid through payroll deductions that was in excess of what you actually owed. The tax return is the stack of forms you send to the IRS. Thank you. [link] [comments]  |
| Posted: 31 Jan 2018 05:57 AM PST In February, the immediate effects of the Trump tax cuts will take effect, resulting in average take home increases of $200-300 a month per household. Edit: This is due to tax bracket changes, resulting in new W-4 withholding tables, resulting in less being taken out of your paycheck. The average social security payout is $1,000 per month. The median retirement savings of families between 56 and 61 is $17,000. Those numbers make me uncomfortable. I want to encourage you to not squander the $300 a month your family is about to receive. If you start at age 25 years old and invest $300 per month into mutual or index funds and do the stock market average of 7-8% (after inflation), you will be a millionaire at age 65. That would mean you could safely withdraw $40-50,000 per year in retirement in addition to social security. I have a feeling that gets you a lot closer to the quality of life you currently enjoy than the $12,000 a year social security (might) give you. Do yourself a favor February 2018. When you figure up how much your take home increase will be, either up your 401(k) percentage at work, or go to a private brokerage and open up a Roth IRA and auto-transfer that amount to it every month. Future you will thank you when you aren't eating Spam or Ramon Noodles 3 meals a day. Edit: For details on the changes in the new tax plan, please see the previous Megathread [link] [comments]  |
| Posted: 31 Jan 2018 06:40 PM PST Throwaway for obvious reasons. I work for a large fortune 500 company in the Midwest USA where most employees' have company vehicles, or access to them, for work use. My job was described to me as 50% fieldwork and 50% office work (although its probably more like 80% field and 20% office work), I work as an engineer (on salary) and I have a B.S. in engineering, as do my coworkers. I'm trying to be as vague as I can but I feel that is important. When I was hired on, the company had 1 vehicle for every 2 employees in my department that we shared via a sign out sheet. I was told we had vehicles to check out to use for work or if you wanted to drive your own car you could and be paid mileage. Over the past 6 months that vehicle count has dwindled to 1 vehicle for all workers to share between more than 10 employees. We had half taken and were told they would be replaced as their lease was up, that obviously never happened. My job often involves needing to access active construction job sites, off road on large plots of open land, gravel roads, frequently needing higher ground clearance or 4-wheel drive, often times we are working and parking next to the roadway with active traffic. Now we are told we have to drive our own vehicles and be paid the IRS standard mileage rate for miles driven. We drive, a lot. Although not necessarily a large amount of miles driven for the time we are in our cars, though this varies and there are times where you drive 120 miles round trip. We drive frequently in town, in stop and go traffic, where 4 miles takes 30 minutes. There are days where I don't see my office and am in my car, between job sites, idling in traffic all day long but only total 40 miles driven. So it's the worst driving for wear and tear, fuel economy, etc. We also have to be out in bad weather, rain, snow, or shine. We're field engineers at the end of the day. I've been advised by my (pension receiving) coworkers and superiors to get a new car or a different car for work. I do not have money for a second car nor do I want one. I have retirement to save for where most coworkers have pensions and are close to retirement, the last thing I need is a car loan for a second car. My primary car is paid for and has been for long enough that I can't imagine having a car payment every month. I feel as if we above many other employees should have company vehicles, as we are the face of the company. We meet customers and are the first line of face-to-face contact. We deal with homeowners, business owners, developers, and contractors alike from simple small requests to working along side multi million dollar projects. These customers consistently question me on my vehicle and they constantly ask where my (company) truck is. It's embarrassing. I'm incredibly frustrated, I fear I'm not thinking clearly and wanted to get some objective outside opinions and try to gain some clarity before frustration turns to saying something regretful at work. I feel as if now I'm burdened with the risks and costs to do my job and without any ample compensation for doing so. I should also note, we also have interns that are still in engineering school and they are now being told they need to drive their personal car for their assigned work as well. What is reasonable moving forward? Is this added expense tax deductible? Would that even matter for a single person whom does not itemize as is? Is it out of the question to ask for a raise to cover the added expense and liability? I feel as though if i were being hired on today and they told me I was going to need to use my personal car for work that I would have tried to negotiate a higher salary. I've heard multiple supervisors/managers say to not tell my insurance and don't mention that you're working if I'm in an accident while driving for work. I know that this is ridiculous to say the least and my insurance needs to know that I am driving for work, occasionally transporting other employees for work, and my yearly mileage amount will likely triple from what it previously was. I've put 55k miles on my car in 9 years, I generally didn't drive my car a lot before now and will now have to put aside more money for looming maintenance that will need to be done more frequently. Thanks for any insight or thoughts on this. It's been an incredibly frustrating week for all of us after management announced this change. [link] [comments]  |
| Posted: 31 Jan 2018 12:27 PM PST I work at Commercial Property Service Management company, (if your local shopping center needs any kind of servicing or maintenance they call companies like ours, ie: flood in a unit, paint a wall, patch holes, empty out trash bins or carpet cleaning etc). If your property needs servicing our company does it. I was brought on board as a Project Manager/Estimator. Essentially i drive out to the properties, take photos, measurements, and then write up a proposal consisting of cost, materials, labor and scope of work. So my job description would consist of driving a lot, typing up proposals, and project managing the job (start to finish). I was hired and given a company car (Prius), gas card for said car, a dell laptop from 2008, and a Samsung note 4. Salary pay at $46k. Based on my work description, i don't clock in/out. My training as an Estimator for the first 3 weeks was great and i was looking forward to the job based on what my peers do. I shadowed the only 2 other Estimators that work here. One has been here 3 years, the other 4 months. This is where my dilemma begins, since the New Year, when we returned back to work, they've assigned me to desk work. Some how they noticed or heard that i am very proficient with computers, one of the company's biggest clients is a retail store chain, and recently the companies HQ has been sending Job Requests for literally each of their retail store locations in my state and neighboring states (CA, NV, AZ). Since i returned to work (from New Years break), i have been working from a desk, not going to sites and doing estimates, instead i have been looking at photos of the RETAIL STORES and notes that our technicians took of the damages and repair that are needed. Then I turn that into our spread sheet with our profit margins on it, and then write a formal proposal for the HQ of said RETAIL STORE, and wait for their approval on the job. I do this all day, M-F, 8A-530P. 100% is not what i was told i would be doing, not what I interviewed for, and not what i did when I was training. Since 1/15/18 i have written over 29 separate proposals, at a value of $130,367.00, of damages a RETAIL STORE needs to do (plumbing, trip hazard floor tiles, ADA stuff, etc). I realize today that my co-workers= whos been here for 4 months is making 20K more then me, ($65k), and we both have the same title, same position, equipped with same car, gas card, laptop, phone. Yet they trust me enough to manage their corporate account and all of their stores. While my co-worker spends 70% of the work day out of the office and only has to write simple estimates for one-off jobs at different locations (change light, paint curb etc.) tldr; I was hired to do Estimator/Project Manager jobs. Owners kid ("ceo") learned i am fast with computers, assigned only me as their corporate account manager for their client who has numerous retail stores across the west coast. My job is to read technician notes, write up spread sheets and proposals for the repairs to each of their stores. While my colleague (been here for 4 months) goes to shopping centers and deal with easy one-off jobs and get to be out of the office 70% of the work day and makes 50% more than i do. I'd like to add that there is only 3 people here that work as Estimators, i only use one my co-worker as an example bc hes been here for 4 months, the other person has been here for 3 years. As far as experience goes, I have over 10 years of HVAC (ac & heating experience), while my coworker has 8-10 experience in painting. Only diff between us besides trade, is age (I'm 35 he's 44). He's making $20k more then me, when I ask why am I doing so much proposal they claim "I'm training", why would a company give their Corporate Account to someone who is "training" when they have 2 other estimators here who have been with the company longer then me? I know it's because they see how impactful my computer skills are. I asked a coworker "who was doing these prior to me", and he named boss and the owners daughter (ceo). I know 3 things; 1. I am doing a job that, prior to me, was shared between 4-5 people (particularly my boss and owner). None were estimators working on Corp account. 2. I am account managing a corporate account and their chain of stores in western region and my co-workers are getting paid almost 50% more then me for doing local one off jobs in random shopping centers (paint curbs, change light, patch and paint etc) 3. When I ask them (in joking tone) why I'm desk assigned, they say "training", but I can't imagine a company would prefer a new hire who's training to be the one responsible for their Corporate Account, as oppose to someone who's been here longer then myself. What should i do? Ask for a raise? What is the correct way to ask? I already wrote down a list of ways I've improved executing this task and notes about what I can offer (weekly recap meetings, train new account managers etc) I've never been in this position before and after realizing I'm making chump-change for the work load I'm doing, its been difficult to work. Thank you for reading this and your suggestions are appreciated. [link] [comments]  |
| Posted: 31 Jan 2018 03:37 PM PST First of all, thanks in advance for anyone who replies to this. I read this sub often and you're a great bunch of people. I'm a US citizen, formerly residing in Illinois. I left the US in 2014 to New Zealand, where I found full-time salaried work there. I used an accountant to file my US taxes. I don't think I ever owed anything since I was always just below the threshold where you owe Uncle Sam on your foreign earnings. In April last year (2017) I quit my job to do some traveling with my partner. I also started selling my artwork online. We arrived in Australia in August and while I was looking for employment again I continued to sell my art online. I haven't found employment with an employer yet (since I quit in April), but have continued selling my art. It's been going VERY slowly, but gradually ramping up. I make just enough to cover rent, and sometimes rent + groceries/transit expenses (it's been fluctuating wildly each month). I've kept a spreadsheet of each art commission I've taken, and also noted any expense specifically related to my art (e.g. Photoshop subscription, art convention attendance fees, etc.). I've been using PayPal to accept all my payments. Some transactions have randomly had fees, others have not. I set up an Australia-specific PayPal in order to transfer money to my Australian bank account here. This bank account is a joint one I share with my Partner, who is full-time/salaried employed. I also earn a few bucks from Patreon and Redbubble. So my questions are:
Thanks again everyone for any and all help you can offer. [link] [comments]  |
| 2003 Honda Civic EX True Cost of Ownership Posted: 31 Jan 2018 07:45 AM PST I saw someone else post something similar except they bought new and I thought others might get some value seeing another example except of a used car and of how I tracked my car costs. For reference, I live in Los Angeles and I bought this car when I was just finishing up college. Links to pics below. I bought a 2003 Honda Civic EX for $7000.0 02 10/21/2011 and eventually sold the car for $2000.00 in November of 2017. In that time I put 118,824 miles on the car. Looking at the first spreadsheet you'll see that the majority of the routine maintenance was done by Firestone and the majority of the major repairs were done by my mechanic Luis. Firestone diagnosed and Luis told me whether or not it actually needed to be fixed and generally fixed it with genuine parts and for a lower price. In Yellow you can see the work I did on my own, mostly air filters and lights. The total maintenance cost was $8,254.60. Over 6 years that's abut $1375.00 in maintenance a year, seems pretty low to me. I kept these records religiously and keeping them all made it much easier to sell a car with over 200K miles. People loved seeing the chart with all the colors. From the very first day I had been using an app called Road Trip LE, every time I filled up I tracked the mileage, date, gallons, $/gallon and total$ spent. On the whole that added up to $13,265.42. Seems like a lot of money on Gas over the years but it coulda been a lot worse had I been getting 20 mpg. I no longer have access to the app that shows how many gallons but the MPG avg was about 31 which works out to 3833 gallons. I also spent $4,582.00 on insurance, this is without collision, I figured I never needed it on a car worth, at its peak, $7000.00 I spent $954.73 on tickets, over 6 years maybe that's not a lot, but maybe I need to slow down too. It would be interesting to know how much I would have saved in gas money and repairs if my average highway speed was closer to 65 and not 80. Alas we'll never know but I contend the time saved is definitely worth it. Especially when your spending over 20K miles a year sitting in that seat. All in all, it seems like buying used was the way to go for my wallet, the total Cost was $33,524.50 over 6 years and 118,000 miles. This works out to TCO/Mile $0.28 or a per year cost of $5,587.41. Buying an 8 year old car I saved quite a bit on insurance, being a civic I got decent pretty good mileage and the reliability was pretty good. The only times I was left stranded were related to the battery or that one time I saw water on the ground and thought my water pump had busted, I was wrong and drove it another year before it went bad. When I look at the previous link for the owner who bought new, we can see that his TCO was $0.39, and considering I drove my car an extra 10,000 miles and has 2 more years of depreciation on it I think it was a good deal. I certainly gave up some amenities but my wallet appreciated it. Let me know your thoughts if you have any. [link] [comments]  |
| New employees are making more than me. Posted: 31 Jan 2018 08:52 AM PST I've moved up in the company I work with, we are a medical facility with around a dozen employees. I am now the manager of my own team, yet my team make more than I do. New employees that are hired to do basic jobs are on a higher base pay than what I am currently getting even after my multiple raises. I made significantly less than my entire team did this last paycheck, despite being there for as many if not more hours. The HR woman we now have at our company has been with us for about a year and she is a nightmare. She will yell at you if you even mention your pay. What should be my steps to addressing this? [link] [comments]  |
| Posted: 31 Jan 2018 08:11 PM PST For example, I usually use TurboTax, but I have an HSA now so they want to charge me to file. I found out CreditKarma has free filing year, and I also found out they had a lot of issues last year. Instead of blindly trusting something I've never used just to save some money, and instead of accepting my fate with TurboTax, I filled out my information on both CK & TurboTax and made sure they matched up. Then I just submitted with Credit Karma for free. This is probably common knowledge to a lot of people, but I saw a lot of people saying various websites messed up their return and they never used them again, when they could have easily verified that amount with a different tool. [link] [comments]  |
| Major medical debit. Debating bankruptcy but unsure.... Posted: 31 Jan 2018 08:53 AM PST So, extremely long story short; my husband and I accumulated approximately $100,000 in medical debt in one week. First we welcomed kiddo number 2 in the world and 6 days later our other child broke her arm. We lived in a small town in no mans land Wyoming so life flight was involved and we had to go to Denver so she wouldn't lose her arm. We had minimum coverage because it was all we could afford at that time. Minimum as is just enough to not get penalized at the end of the year. Full intentions to get on a payment plan but then life happened. Work slowed down for my husband and we were struggling to pay rent and put food on the table. This last year we've been extremely blessed and my husband was able to get a better job and we are finally starting to get back on our feet. However, within the last two months we've been served twice due to these medical bills. I've tried calling debt consolidation groups, the collection agencies, and even the hospitals to set up some kind of payment plan and we've been denied or told that what I'm offering to pay isn't enough. I'm at a loss. We've cut off every "extra" we have to pay these bills and it still isn't enough. Now we're being sued and I could cry everyday at the predicament we are in. So, we are considering filing for bankruptcy but not sure how all of that works or if this is the right choice. I've contacted 3 different lawyers to get advice but I'm still not sure what to do. I guess my question is, has anyone faced this type of debt before and if so, how do did you go about it? Is there any other way at this point to avoid bankruptcy? Please be kind. I know we've made mistakes along the way but we are just a family trying to keep our heads above the water. I feel like I'm drowning already and everyday is truly a struggle. Any advice would be appreciated. Thank you. [link] [comments]  |
| How to deal with "Send salary requirements in cover letter"? Posted: 31 Jan 2018 06:00 PM PST My wife is currently job searching (non-profit development) and most of the jobs do not list compensation in the job description. Also, most of the jobs that she's applying to have some variation of the title in the application process. She had two interviews with one organization and found out that her salary requirements were the factor in not getting the job (they hired someone with less experience and less education for presumably less money). It seems to me that this is a no win situation for the person applying to the job. We have looked at Glassdoor etc but the ranges for the positions she is applying to are broad. It seems like you either go high and run the very real risk of not being interviewed or losing out to someone with a lower number, or you go middle of the road/low and totally hamstring your salary negotiations before they even start. Is there an elegant solution to this that I'm not seeing? Can any hiring managers (or similar) chime in with how these numbers are viewed and evaluated? My wife is currently part time looking for full time roles so unfortunately she's not really in the position to just not accept anything lower than the max number. Appreciate any help. [link] [comments]  |
| Wife's student loans are causing us to have a revolving monthly negative balance. (US) Posted: 31 Jan 2018 11:57 AM PST Back in 2013, my wife and I both a house before we got married, at the age of 25. Shortly after we got married. That year I also bought a new car, my old car was not reliable. We have been filing joint since then, as we got the best tax return. Our 2013 return was almost $8000. Since then its been between 3-5k. In 2015 we had to buy her a new car. She buys a car and drives it till it dies. This was the second car she has ever bought. In 2015 her Federal loans came out of whatever they were in, that she didn't have to pay while still in school - and we got stuck with a $450 a month loan payment. All was fine and dandy until you add that. Here's our, at minimum monthly expenses: Mortgage: $2147 (this has increased from $1798 a month due to tax increases due to the property increasing $100,000 in worth since we purchased) Utilities: $400 (this is a rough estimate for gas, electric, water) Car 1: $320 Car 2: $390 Car Inusrance: $188 Federal Student Loan: $544 Wells Fargo S.Loans: $187 Navient Student Loans: $139 That putting us around $4400 a month in base line bills. I make around (minimum) $1400 bi-weekly, and she is around $1000 bi-weekly - both after tax. So that puts us right around $4800 a month. Every month we run that line of Net0 or a negative balance. Negative is the more common of the two. Is there anything we can do with the loans? Primarily the Federal loan. The Wells Fargo and Navient are already several loans consolidated. Edit: Mortgage was listed at $1998 and not $1798 Edit2: It should be noted that when we bought our house, our household income was close to $160k. My wife lost her job (due to health insurance reasons - her employer wanted her to pay $630 a month on their insurance) for about 9 months which we started acruing debt. Since then we have been working our way back. 2016 our household income was close to 105k. I know last year I made 107k myself, so im hoping we are back on our way to our original. [link] [comments]  |
| How to do taxes if I only made $79.28 last year. Posted: 31 Jan 2018 01:23 PM PST Im 18 and only had one job last march while I was in 12th grade. I worked two 4 hour shifts and didnt like it so I stopped showing up. Today in the mail I got a paper that says it is a '2017 W-2 and EARNINGS SUMMARY'. It says Gross pay: $79.28 Social Security tax withheld: $4.92 Medicare tax: $1.15 CA state income tax: $0.71 It has a bunch of boxes that all say the same thing. Does this mean I already payed my taxes because I remember when I cashed my check I only got 70$ because the place I cashed it at kept 2$ and they said I wouldnt get the rest because it was for taxes. I was 17 at the time I had my job. Edit: also I have heard of w2 and w4 and im pretty sure that has to do with taxes but I never filled anything out so why did I get this? [link] [comments]  |
| Got hit with huge medical bills Posted: 31 Jan 2018 03:51 PM PST So, due to reasons, I had to go to the emergency room twice in December, and then I got SLAMMED with bills. I have one for about $5,000 and the other for around $7,000. My insurance (Blue Cross Blue Shield of Illinois) has already paid a lot of the first one ($5,000 is AFTER insurance,) but they won't touch the second one. I think this is because it was an out of network hospital and the deductible for out of network hospitals is like $15,000, despite the fact that according to my policy I'm only supposed to pay 30% of emergency room fees. Here are the steps I've taken so far:
Also it's probably important to mention that my health insurance plan is the Blue Choice Silver Preferred PPO. Anyway....does anyone have anything helpful to say about all this??? My friend also recommended that I contact some patient advocacy groups so I might look into that. And preemptively, yes, I know I should have checked if the hospital was covered, but when you're going to the emergency room that's not really the first thing on your mind. I'm also currently picking through/reading this subreddit's wiki about health insurance. Thanks all! [link] [comments]  |
| My company is raising our 401k matching, but we think it's actually a decrease. Posted: 31 Jan 2018 10:08 AM PST My company just announced they're increasing our 401k matching from a maximum of 6% of our salary to a maximum of 7%. Good news, right? They also slipped in that instead of paying out matching each pay period (every 2 weeks), "any match will be paid annually in a lump sum by the end of January the following calendar year". As I understand it, that means we don't get to take advantage of market gains on our 401k matching in that calendar year. Can anyone point me to help for calculating this difference? My company is marking this as a 1% increase, but I'm guessing that with average annual market returns this is actually an effective decrease. Sure, market gains aren't guaranteed but for the long term I've seen 7-10% assumptions for broad index funds. [link] [comments]  |
| Owe $2,000. First Time Filing. Posted: 31 Jan 2018 06:36 AM PST Hello! I am 21 yo and I am filing for myself for the first time. I used TurboTax as suggested to me. I entered all of the information and after that was all said and done it says that I owe over $2,000. I reviewed my w2 and my previous employer stated that they were unable to collect $3,000 worth of health insurance. I don't understand what this means. My issue is not owing money, if I owe well then...I owe. I just want to understand how this could happen. I reviewed my health insurance paperwork a hundred times but it still confuses me. I no longer work with this company and had insurance with them for 7 months. I paid $68 a week for insurance with them. Is it because I no longer work there that I owe? And if so, how does that all add up to $3,000? [link] [comments]  |
| My mom [52] has metastatic breast cancer. What are her options for insurance once on disability? Posted: 31 Jan 2018 06:29 PM PST We live in Illinois. My mother is recently divorced and very recently found out she has a recurrence of breast cancer that has metastasized to her skull, liver, lung, and distant lymph nodes. She is getting chemo (surgery is not an option) and should qualify for disability, which we will be applying for now. As of now, she is insured through her employer and continues to work full time as an airplane parts mechanic, but chemo and cancer is wearing on her, and I don't think she can continue to work much longer. As far as I know, she does not qualify for Medicare until she has been on disability for 24 consecutive months. What are her options for affordable healthcare when she is unable to work? Cobra?-- is this something she can afford for 24 months while awaiting Medicare? Also, how difficult is it to get approved for SS disability benefits? I've looked at the Blue Book criteria, and she definitely meets it. [link] [comments]  |
| Rookie IRA mistake (Dont' do this if you have a new IRA) Posted: 31 Jan 2018 06:27 PM PST When I was 19, after being preached to about how I should save money for retirement and starting out younger was better and all that stuff I decided to open an IRA account. Not knowing much about it, I just opened it and set up automatic withdrawals and have been contributing $300 a month since 2009. Never really looking at it thinking I was just making the right choice... Well fast forward to today....The rookie part. Where I realized that I've been contributing to a FLEXIBLE RETIREMENT ANNUITY IRA. with a locked in effective annual rate of 1.5% I mean this is better than your average savings account return but still, a 1.5% annual rate of return is crap. Now that I know that money could have been going into a Vanguard fund or mutual fund within my IRA making much better returns than a measly 1.5%... man I feel like such a rookie. Just wanted to share this to make sure this didn't happen to anyone else and they at least know the full potential of what an IRA can do and not to trust the guy on the phone just opening the account for you waiting to clock out. Make sure if you guys/gals are opening an IRA you research all the things you can do within your IRA and don't just leave it on "autopilot" that's never a good idea with money anyways as I now know. Also, anyone have any recommendations on what I should throw my $25k+ into? I was thinking after listening to a couple mad money podcast about an S&P 500 index? suggestions? [link] [comments]  |
| Random $295 Deposited In My Checking Account Posted: 31 Jan 2018 05:45 AM PST Hi guys—looked in online banking today and saw a random $295 deposited. Upon some further investigation, this looks to be a refund from a while ago. In September I was in Iceland and withdrew roughly that much from an airport ATM, but I didn't notice until now that that withdrawal was processed twice (so there are 2 separate withdrawals, each for about $295, one on September 1 and one on September 5–with 2 sets of fees...) On September 5 I was not in Iceland anymore, and further, both withdrawals say "9/01 withdrawal from Keflavik". The refund I got today also says "9/01 withdrawal from Keflavik". All 3 transactions have the same ATM number. Is this Bank of America just repaying me very very late? Should I be worried it'll be taken away? I won't spend it for a while to see what happened. Side note-I absolutely hate BoA but changing your primary banking institution is just so much work... Please let me know if this is any kind of scam or if I should be worried. Thanks! [link] [comments]  |
| Posted: 31 Jan 2018 06:07 PM PST So my wife and I filed using Credit Karma last year. I have an email saying our taxes were filed successfully. We owed $800ish and forgot about it because we were waiting for something in the mail. Well we just checked irs.gov and it says they never received a tax return from us. We will call Credit Karma tomorrow and try to get this straight. Was this a common occurance with CK? Any suggestions on what to do? [link] [comments]  |
| Posted: 31 Jan 2018 03:47 PM PST Line 10, where you enter the previous years state tax refund. I know of many people that are upset about this, but don't understand it. If you did not itemize, or otherwise claim as a deduction state taxes on the previous year's 1040, you do not need to enter your state refund on this line. If you did itemize last year, you typically put the amount of state taxes withheld as reported on your W2. But since this number is bigger than your actual owed state taxes (assuming you get a state tax refund), that is the reason you have to claim your refund on the next year's taxes. Too many people enter their state tax refund on line 10 even if they did not itemize the previous year. This is a mistake. [link] [comments]  |
| Posted: 31 Jan 2018 04:40 PM PST Edit: apparently his plan, as I suspected, is illegal as hell. My decision has been made and I'll be telling him to contact a bankruptcy lawyer asap. Thank you all for the information! I'll leave this post up for future posters. Hey all, I'm in a bit of a unique situation. I'm hoping to get some advice and/or perspective on what to do. Me: Background:My father-in-law has had a string of fairly serious medical issues stemming from auto accidents and a stroke (caused by head trauma due to the accidents where he wasn't at fault) - he's made a full recovery to his state prior to the stroke which is amazing... however he hasn't had health insurance for nearly a decade. The result is that he's now sitting on medical debt to tune of $100,000-120,000. He's gone through most of his savings since he's unable to work. I've been sending him funds to cover his mortgage and cost of living for the last few months. The important facts regarding FIL:
The SituationFIL reached out to me with a proposal - I buy his house off of him for what he owes on it ($50-60k) so he doesn't lose it to whoever owns his debt and ensures it remains in the family. I've got money to do it as I've been saving up for a home purchase within the next several months. There's a few problems though.
Has anyone been in a similar position? If so, what did you do? How would you proceed? I'll answer any questions you may have in the comments below. Thanks! [link] [comments]  |
| Posted: 31 Jan 2018 01:53 PM PST Hope this question makes sense. Said differently, I'm trying to understand if lenders treat debt differently if the responsibility for the debt is spread across more than 1 person. Thanks for the help! [link] [comments]  |
| What to do in regards to upcoming dramatic minimum mage increase Posted: 31 Jan 2018 05:37 PM PST I live in Los Angeles (for now) I've been progressively improving in terms of wages. When I started out as an 18 year old working security minimum wage was 7.50. now fast forward 5 years I'm making 14. Not much in the grand scheme of things but it's been made from bargaining at time of employment for the most part. Now I look at myself as a skilled employee I have my certifications that require recertification every 3 months I have over 1000 dollars in equipment that I wear every night at work and five years experience. In Los Angeles minimum wage is racing to a mandated 15 dollars an hour come 2020. I'm scared because I've been battling wage compression since I started working. Would it be wise to ask for a preemptive raise at the end of this year (2019) I just done see the point of continuing to work in a dangerous profession with required recertification costing over a thousand dollars a year if I'm going to be back at minimum wage where I could do a whole lot less for the same amount of money [link] [comments]  |
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