Personal Finance Federal workers, was your back-pay short? |
- Federal workers, was your back-pay short?
- Trying to get paid family leave (NYS) has been a nightmare. Still not sure if I'm going to get paid..
- There are free tax filing options
- Separate retirement account when employer already contributes 11%?
- I am 28 years and still live with my parents. No car, no degree, no savings, no job, and no employment history. What do I do?
- I’m 20, is it worth starting a 401k?
- Just did my 2018 taxes and we owe. How do I avoid this in the future?
- Fraudulent loan that was taken out was removed from credit report and score remained unchanged.
- My boss is withholding my pay and I'm not sure what to do as it's a relatively informal job. How can I prompt him to pay me for my time?
- Please help me figure out my (30/F) options. Seattle/USA
- Should I pay a lump sum to bring down the principal of my vehicle or is it better to put the money in savings and refinance?
- Salary employee paid bi-monthly... hourly rate fluctuates based on work days in the pay period
- What are multiple ways of income
- Can direct deposit bounce?
- Put wrong last name on taxes?
- Does IRS send mail for taxes if nothing was wrong?
- Government job is looking to get a 457b deferred comp plan for us come next contract, what are some good vendors with low fees?
- 401K and IRA for taxes
- 529 texas college savings vs TX tuition promise fund vs investment property to be used as payment for college tuition
- Best way to save + pay off debts
- I am a 25 y/o with a crappy car and no savings, I have never lived alone, and have to be in a new place by May 1st
- Kiddie Tax post-TCJA
- I had a catastrophic injury happen at the beginning of the year. Surgery on 1/2, ER visits, blood clot complications, follow up visits, physical therapy and orthotic gear. I have met my insurance deductible for the year, do I really pay nothing more for 2019?
- could use some 401k advice
| Federal workers, was your back-pay short? Posted: 31 Jan 2019 06:15 AM PST My wife is a federal employee who wasn't payed during the shutdown. Yesterday she got a direct deposit for one missed paycheck and another is pending for tomorrow. Each payment is $484 less than her normal pay. She's going to ask about it today, but I was wondering if it happened to anyone else. [link] [comments]  |
| Posted: 31 Jan 2019 03:53 PM PST NYS implemented paid family leave in 2018. We had a child and submitted a paid family leave to start in 2019. Employer (national huge company but with limited offices in NY state) entirely clueless. I had to do all the research on my own to figure out how to do the claim, etc. They didn't even realize their disability insurance provider was the one who pays out the benefit. I'm not entirely sure the insurance provider is aware either... Anyways... I'm on week 2 (of 9) of paid family leave and still have no communication from the insurance provider as to whether they will be paying the benefit or not. For those that aren't aware, in NYS, large private employers are required to carry insurance to pay for paid family leave (10 weeks in 2019). Employees fund it via small mandatory payroll contributions. The insurance company then pays out for valid claims (bonding with new child, etc) Tldr: employer seems to be clueless how NYS family leave works. Possible their insurance provider, who is supposed to pay the benefit, is equally clueless. I guess I'm hoping someone else here has done state family leave (paid via insurance company) and can offer some insight. [link] [comments]  |
| There are free tax filing options Posted: 31 Jan 2019 06:34 PM PST Please do not pay for Turbotax or H&R Block. (If you fall into the free version from them, great.) They both lobby the US government to keep our tax returns complicated so you buy their services: https://www.propublica.org/article/filing-taxes-could-be-free-simple-hr-block-intuit-lobbying-against-it https://www.vox.com/2016/3/29/11320386/turbotax-boycott-lobbying-tax-filing-season-tax-day-april-15 Don't pay a corrupt organization money. They are making all of us waste our time every year. I have run my taxes with FreetaxUSA, CreditKarma, and Turbotax and they give me the same result. I personally like FreetaxUSA the best from a user interface standpoint though CreditKarma had nicer graphics. FYI: FreetaxUSA charges $13 for state taxes returns but federal is free. [link] [comments]  |
| Separate retirement account when employer already contributes 11%? Posted: 31 Jan 2019 07:00 PM PST I'm lucky enough to have recently begun working for an employer (large public university) in a well paying position and have finished establishing an emergency fund. Now, I am beginning to think about retirement funds. The uni already contributes 11% of my base salary to a 403(b) retirement account (currently in Fidelity Freedom 20x0 Fund Class K). In addition to this, I am a bit stuck on what to do next. I know I should create my own separate account(s) but I am not sure what avenue to go down. Should I look into contributing more from my paycheck to the 403(b) [if even possible]? Perhaps a roth or traditional IRA, on top of the existing 11% 403(b)? I'd love any help given this situation on top of the wiki. Thanks in advance! [link] [comments]  |
| Posted: 31 Jan 2019 03:35 PM PST My stats look bleak: no employment history, no degree/skills, no savings, and no life experience. I take things day by day but the more I recover from a certain dark event in my life, the more I need to leave my parents' home and become a human once again. But what does that exactly mean? I have very little value to employers. What should I do? [link] [comments]  |
| I’m 20, is it worth starting a 401k? Posted: 31 Jan 2019 11:01 AM PST I know nothing about finances. My job has 100% match. Which I think is better than usual? With the current and expected future market, is it going to be worth it or should I just keep my money in my savings account? I'm going to be working at this place until I retire. [link] [comments]  |
| Just did my 2018 taxes and we owe. How do I avoid this in the future? Posted: 31 Jan 2019 11:09 AM PST I just finished doing our 2018 tax returns. Married filing jointly, both of us have 2 W2s each. I had a job change right in the middle of the year, and my wife taught an extra class in the summer. Total income was $130k. After the student loan interest deduction and the standard deduction, puts us at a tax liability of around $14k. We only paid $12k, owing $2k now. Was this an outcome of me having changed jobs midyear? How can we avoid having to owe next year, with no foreseeable employment changes in 2019? Thanks. [link] [comments]  |
| Fraudulent loan that was taken out was removed from credit report and score remained unchanged. Posted: 31 Jan 2019 06:19 PM PST So an auto loan was taken out in my name and it took about a year to get off (of course it went to collections) of the credit report. However my score remained unchanged. Score in that year went from 800 to 570. What gives? Nothing else is delinquent, in collections, and CC usage is 8%. Edit: I should mention that this is the Transunion Score on credit karma and it was updated with the removed account today. Before that it was sent to collections, and charged off. All of that history has been removed. [link] [comments]  |
| Posted: 31 Jan 2019 08:09 AM PST Hi, I'm currently working as a caterer in NYC. I've invested many hours catering during special events. I'm owed $563 in total and I was supposed to get paid on the 15th of January but my employer keeps delaying sending me my money. Turns out, he has a reputation for refusing to pay his illegally employed workers and there's not much they can do about it. As a US citizen though, what can I do to make sure he pays me? Threaten to take him to small claims court? [link] [comments]  |
| Please help me figure out my (30/F) options. Seattle/USA Posted: 31 Jan 2019 05:50 PM PST Hello all. I am in a bit of a pickle and I need some help brainstorming my problem. I bought a 2014 Nissan Cube back in August of 2015 with about 25K miles if I remember right and everything has been just fine and dandy until a couple of weeks ago it starts making a weird noise. So I go to Nissan and have them check it out, its the transmission. I guess these cvt trannys have a history of failing real early. (My car is at 66,660 miles right now) Edit: I still owe $7,300 on this vehicle. edit I still owe $7,300 on the loan for this vehicle. I think I'm fucked? The warranty went out at 60K miles. Their goodwill program said they might help me but I have to get the Valve Body checked there first ($1,700) and if that's not the problem and it's the entire transmission that has to be replaced it's an additional $4,400. So if I go through with this possible $6,100 process. They might help me or cover it entirely. I pay all my damn bills, I take care of my things. I just got an affordable apartment and figured as long as I'm not an asshole I could even totally get out of debt this year. Now I feel like this fucking situation is going to hold me back for a few years. I liked that stupid car so much and now its fucked me. Fuck Nissan, don't get one. They're built to break and make life difficult. Oh and I spoke to nissan about getting a different car and their offers were laughable. Plus I'm never ever buying a Nissan again. Thoughts? Help? [link] [comments]  |
| Posted: 31 Jan 2019 03:11 PM PST I owe 12k on my car. I'm considering paying 3k lump sum towards my payment but the financial person at the dealership advised against that because if something happens to the car that money is just gone. My ultimate goal is lower monthly payments and repairing my credit. I have a sub prime loan with high interest due to a recent bankruptcy discharge. [link] [comments]  |
| Salary employee paid bi-monthly... hourly rate fluctuates based on work days in the pay period Posted: 31 Jan 2019 02:03 PM PST My employer has set up their payroll to be twice a month. Days 1-15 are part of pay period 1. Days 16 through the last day of the month are part of pay period 2. The number of week days in any given pay period can fluctuate. I'm guessing in an effort to keep paychecks consistent, they have decided to adjust my hourly rate for each paycheck based on the number of weekdays that happen to be in that pay period. This seems wrong to me. Can anyone else confirm if this is normal in the US? I'm in Oregon if that matters. [link] [comments]  |
| What are multiple ways of income Posted: 31 Jan 2019 07:54 PM PST Ive being seeing a lot of people saying to be successful you need multiple sources of income at a time. But my question is aside from a primary job, what are the other ways to make money? [link] [comments]  |
| Posted: 31 Jan 2019 06:00 PM PST Hello Reddit money people. Recently, I posted about a family member who was suddenly laid off. Their last check is due tomorrow, and a conversation with the boss this afternoon is making him think he will not get paid. We are now concerned about the employer's ability to pay him. He is paid by direct deposit. That leads me to this question: can a direct deposit bounce? Basically, if he does get paid tomorrow, should he sit on that money for some length of time to make sure it was actually a good check? Or can a payroll-based direct deposit even be completed if the employer has insufficient funds? Any and all advice appreciated. Rent is due tomorrow, so he does not want to make a rent payment from a DD paycheck that's not actually covered, if that's even possible. Thanks! [link] [comments]  |
| Posted: 31 Jan 2019 05:38 PM PST When I was filing my taxes, I put my old last name..not my last name now I got from marriage. What do I do now? The federal return was already accepted. [link] [comments]  |
| Does IRS send mail for taxes if nothing was wrong? Posted: 31 Jan 2019 05:21 PM PST I am a college student who is working online (legally), but that doesn't mean I want my parents knowing. I do my own taxes, but my only permanent address is my home address, and my parents would be pretty curious if I'm getting letters from the IRS. If I make quarterly payments for being self-employed, will the IRS send me mail about it? Like receipts or other information that I wouldn't want my parents seeing. I realize if I underpay or omit payments they would contact me, but would they if I do everything right? [link] [comments]  |
| Posted: 31 Jan 2019 06:49 PM PST I'm a cop (see username) and our dept is renewing its contract soon. We dont have any 403b or 457b to contribute too, but we do have the Police and Fire Retirement System that we contribute 10% of our salary to every year until 30 years when we can retire and make 65% of our highest salary. This is awesome, but I'd like to have more tax advantaged avenues to invest with(already maxed out Roth IRA) what are some vendors you guys use for 457b and what would you recommend? I have about 26 years left until i can retire in my early 50s and would like to get the most out of a possible 457b. I'm a big believer in set and forget on the US total stock market, so preferably companies with those options? [link] [comments]  |
| Posted: 31 Jan 2019 03:48 PM PST I've been maxing out my standard IRA for a couple of years now. Last year company opened up a 401K,without any company match, and welcomed a 401k to add on to my personal IRA. I did not know that there was an income max out ($64k AGI if single) to deduct IRA contributions from my taxes if you also have a company 401k. I am fortunate enough to be over that max. I don't know what my best option moving forward is. Keep contributing to both 401k and IRA? Take whatever I was going to contribute to the IRA and push it solely in to my 401K? Throw up my arms and put it all in Bitcoin and rare Beanie Babies? (/s) Any opinions or ideas ? [link] [comments]  |
| Posted: 31 Jan 2019 08:28 PM PST Im getting ready to have a kiddo and I am trying to decide which route is best to go. Since I have 18 years (more or less) before college starts what is the best route? Option 1) 529 route is very appealing because of the tax free interest. The one for TX provides very little information. From what I've read, 529s are flexible and you can Pay room and board with them. Can anyone share their experiences with this? Has anyone been able to transfer the funds to another person? Option 2: We live in TX and there is a Texas Tuition Promise Fund. Is anyone using it or planning on using something similar? Using their calculator, I would need to save up ~5,500 per year for 19 years for a year degree = ~ $104,000. There seems to be a lot of drawbacks with this option and not too many gains. The gain is to lock in today's tuition prices but the 104k seems high for only being able to pay tuition. (Im saying about 6k per semester public university so about 50-60k for tuition, todays prices) Am I missing the point of this plan? It seems like I could put the 5.5k per year into a savings account or mutual fund and get more in the 18 year span. Has anyone chosen a state tuition plan in lieu of the 529? Option 3) purchasing an investment property that can be paid off in 15 years. Saying during the 15 year loan period you just break even or say you get about 1k profit per year, (about $80 profit per month) so 15k by the time you finish the 15 years of payments. (I'm not including the properties appreciation for the time being) Then realistically you have 3-4 years of say 12k (1k per month rent) so 12k at 4 years = 48k plus the 15k = 63k for him to start college plus a continuing 12k per year for however many college years. This seems like a really good option without including the appreciation. Can anyone chime in on the pros or cons as to why they did/didn't Thanks in advance! [link] [comments]  |
| Best way to save + pay off debts Posted: 31 Jan 2019 08:25 PM PST I could use some help figuring out the best way to pay down some debt, but I'm just now in a position to not live paycheck to paycheck and have some savings, so psychologically it feels important to keep some money in the bank instead of throwing as much as I can every month at all my debt. Is there a happy medium? Here are the particulars (majorly simplified). I have read the Prime Directive, but still have specific questions. After taxes, insurance, retirement (15% gross in a 401k), FSA account etc, take home is 6500/mo. Last I checked our retirement account had about 400k. We are late 30's. It's the only thing we stuck to from a young age when we were making bad financial decisions for 15 years. We have about $22000 in a regular savings account. I found one that gets 2% interest I could switch to. I look at this as our emergency fund for 6 month living expenses + medical expenses. We've got good insurance, but I don't think any insurance is that good these days and my kids have some minor medical issues. Debt: CC1: 3000 @ 15% minimun 60 CC2: 8000 @ 11% no idea what the minimum is Student Loan 1: 4700 @6.5% 120/month Student Loan 2: 9800 @3.5% 143/month Other Info: Living Expenses are about 3700 (not including student loans or credit card payments). We have kids. We eat. They do activities. We also get lump sums 3-4 times a year from side jobs that pay for vacations and other non-monthly but expected expenses such as every child needing every single winter gear item replaced bc they all grew 4 inches and everything has holes, and car maintenance. Our van is paid off. We will drive it until it breaks, but I would like to have a healthy down payment for a 2-3 year old model when we do need one eventually, perhaps in 3 years. So, what would be the best way to get rid of the CC debt while still having a healthly savings/emergency fund? Should we pay off the SL's quicker than the 4 and 6 years they have left? Throw tons of money at the CC's and deal with having little money in the bank for a couple of years? And, once we have everything paid off, and we are saving enough for retirement and college (we already do that. Kids' college is 95% paid for bc of spouses job. We have a separate savings for the 5% and misc), we have no desire to continue to invest for investing sake. We could potentially afford a vacation home in 5 years with a 20% down payment, if the assumption is that first home + vacation home + related expenses should not exceed 30% of income. We assume this would not be a "good" investment, and that we would sink tons of money into it, but we are cool with that. We live in a big city and we want to have a little house in the country for our kids. Any huge reason this is a horrible idea? [link] [comments]  |
| Posted: 31 Jan 2019 04:34 PM PST I'm unsure how to budget for living solo, I'm not good at planning meals for one person so unsure how to grocery shop for just myself. February's income won't factor into my funds for moving, and I won't have roughly 700 of March or April's income to put into moving either. I'm a little unsure where to begin, I don't have a lot of expenses in general but I know that will change once I live on my own. Are there any guides or list of tips on how to live alone. EDIT: I'm also nervous about apartment hunting with so little income, are there any tricks to finding an affordable apartment that aren't obvious (like thorough searching) EDIT 2: I make 14/hr pre tax, I will have AFLAC come out of my income in Feb, and AFLAC+Company provided Health INS every month starting in March [link] [comments]  |
| Posted: 31 Jan 2019 08:17 PM PST I am assisting an immediate family member with filing her taxes. She is a 19-year old student at a top-10 university, however our family is relatively low-income. While I am employed and do OK, I am not part of her household for tax purposes. However, her single dad is elderly and disabled, and has very little income. As a result, she receives a "full ride" financial aid package from her school which fully covers the cost of room, board, etc. in addition to tuition, fees, and books. She pays almost nothing, outside of about $2,000 in work study income which she can use towards any remaining expenses (it is considered part of the overall financial aid package, but it is money she works for). Her dad pays nothing out of his pocket — the school pays for pretty much everything. My understanding is that the money the university gives her (essentially paying itself) for room, board, etc. is taxable unearned income. She received approximately $23,000 in said unearned income according to her 1098-T, in addition to approximately $1,800 from work study earned income. My understanding is also that the TCJA took away her option of paying tax on the unearned income at her parent's 10-12% income tax bracket, and that instead, the TCJA now applies the substantially higher trust/estate income tax brackets to this income — and that she will in fact reach the 37% tax bracket. As best as I can tell, this will result in a $3,200 tax hit, which neither she obviously can't afford, having made only $1,800 in "real" income last year. I'm contemplating just paying the $3,200 for her, but have some questions. (1) Is this even a correct interpretation of the TCJA's change to kiddie tax? Or am I reading this situation wrong? (2) Is there any recommended mitigation strategy? (3) Even though it would be using earned income, would parking the $1,800 in earned income in a pre-tax IRA yield any tax benefit in terms of how much kiddie tax is assessed? (4) Could me paying her taxes be considered unearned income for her in a future tax year? (5) Is it advisable to give a gift like this to family? I would not be expecting repayment. (For context, I am debt free and have $22K in savings) (6) Is it advisable to claim that any of her earned work study income was used to pay for books (which are not accounted for on the 1098-T) for purposes of getting the AOTC? Or would it be better to claim that she used the (unrestricted) scholarship money for this purpose, and exclude the corresponding amount from gross income? (Please note in this situation, she has tax liability, but her low income father does not, so if AOTC was claimed by him, he'd only be able to get the refundable portion.) [link] [comments]  |
| Posted: 31 Jan 2019 06:02 PM PST |
| Posted: 31 Jan 2019 05:45 PM PST Hey there. So I'm a 27 y/o M living in CA. I am maxing out my company 401k every year at something around ~20k/year. That said, I am splitting it 60% Traditional 401k, and 40% Roth IRA. Should I reconsider that? My yearly income is around ~200k/year and I am single and renting an apartment. [link] [comments]  |
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