Personal Finance Weekday Help and Victory Thread for the week of November 02, 2020 |
- Weekday Help and Victory Thread for the week of November 02, 2020
- It's OK to use a Credit Card Wisely
- Earnin' and other Cash Advance Apps are a Gateway into Debt
- Need advice on how to pay rent when we lost our jobs and can't get a loan
- Withdrawal of Roth IRA Contributions
- Should I agree to a 25-year solar PPA with the intent to buyout after 5 years for 3 solar trackers on my property?
- My employer just cut my Annual Bonus structure by 60%, but is adding that 60% to my salary. How should I look at this?
- My work is having a sale on pianos and I have no idea what it means. Can someone help explain it to me?
- Should I have a professional look at my tax returns?
- TD BANK denied my fraud claim twice, what can I do?
- 100% Disabled Veteran w/ Pension Age:23 How to invest?
- Moving out at 20. How should I go about this?
- How much should I contribute to my 401K?
- Would I be dumb to spend 50% of my take-home monthly income on rent?
- Investor is offering to buy out my shares of a pre-IPO investment for 50% more than I bought them for. Take the offer or gamble for a better return?
- Student with an unsteady income. Thinking about dropping out of school. How do I plan for the future?
- Sell or Rent it Out?
- 401k balance is entirely gone, help!
- Help a “new adult” budget ?
- Company no longer has 401k - what should I do to invest for my future?
- How to efficiently inherit assets (tax wise) from elderly grandparent?
- New employer covering 20k in forfeited 401k match. Is a backdoor Roth IRA the best way to invest the money?
- HSA Reimbursement for Dependents, but no longer a dependent
- Tax Warrant in need of dispute from 2013, what are my options?
- Should I be utilizing my company’s 403b and HSA?
| Weekday Help and Victory Thread for the week of November 02, 2020 Posted: 02 Nov 2020 03:00 AM PST If you need help, please check the PF Wiki to see if your question might be answered there.This thread is for personal finance questions, discussions, and sharing your success stories:
A big thank you to the many PFers who take time to answer other people's questions! [link] [comments]  |
| It's OK to use a Credit Card Wisely Posted: 02 Nov 2020 06:14 AM PST This is going to be a very short post. I just needed to say this, because I see a lot of folks discourage using a credit card the way I do. Every now and then, my wife and I have a big purchase to make. We do have the cash in the bank to do it, but we always call up one of our credit cards, ask for a 0 percent promo, and use the 12 month term (usually it's that length) to pay it off throughout the year. No interest paid, and I get to stay more liquid. Ohh and rewards points! I've gotten chewed up on this sub for doing that, but it's worked for me numerous times. We trust ourselves to pay it. That is all. [link] [comments]  |
| Earnin' and other Cash Advance Apps are a Gateway into Debt Posted: 02 Nov 2020 10:03 AM PST This has probably been said before, but the incessant ads I see for this app have brought it back in my mind. As a citizen of Alabama, most of my family have blue collar jobs, jobs which were destroyed in the Financial Crisis. I watched as many of my family members, feeling they had nowhere else to go, were taken advantage of by payday lenders offering to ease their stress. This debt only compounded over the years. The new stress of this debt led many to heroine or worse. DO NOT BE MISLED, Earnin is a payday lending app, no matter what their fancy marketing says. Even if it is not, it encourages reliance on money YOU do not have. If you do not have the money to pay your bills this month, you will not magically have it next month either. The only way to to earn more than you spend is to spend less than you earn. Period. [link] [comments]  |
| Need advice on how to pay rent when we lost our jobs and can't get a loan Posted: 02 Nov 2020 12:00 PM PST I don't have enough Due to the coronavirus and a couple other unfortunate events me and my fiancé lost our jobs 2 weeks ago. We had savings built up incase this exact thing happened. Sadly our car decided to have troubles causing us to spend all our savings. Now rent is due in a week for $875 and we only have $30 to our name. I called for a loan but because we don't have a job (Actively searching) and no one to co borrow i was declined. I know payday loans are bad and I probably wouldn't get approved anyway. Im stuck, stressed and lost. I don't ever really post but I really need help with this one. Any advice? Edit: location is Albany, Ny. My landlord is not willing to negotiate any trade or extension and is imposing a $200 late fee [link] [comments]  |
| Withdrawal of Roth IRA Contributions Posted: 02 Nov 2020 03:16 PM PST I will be withdrawing some funds from my Roth IRA at the end of the year, and my understanding is that I can withdraw any contributions I've ever made to the account penalty-free and tax-free. The Roth IRA is through Merrill, and my checking account is with BOA - their partnership will make the transfer itself pretty simple. My question is, are there any weird caveats I may be overlooking to this withdrawal? I should be able to withdraw every cent I've ever contributed to the Roth IRA without worrying about taxes or penalties, correct? This is a dumb question, but I want to make sure I have it correct in order to avoid penalties (surprisingly, I do not qualify for the friendly repayment terms under the CARES Act). [link] [comments]  |
| Posted: 02 Nov 2020 06:45 PM PST Hi all, big time fan (and high school economics teacher) so I've really gotten a lot of use out of the posts and information here over the year. Wondering if anyone would care to share their opinion/advice on an opportunity I currently have: A local solar company (Vermont) is currently offering property owners with excellent solar potential $7500 for a 25 year land lease and PPA to build 3 solar trackers on my land. I would also receive 10% off my utility costs for the length of the agreement. This alone doesn't seem like a significant enough financial incentive to agree to this, but after 5 years we have the opportunity to buy-out the agreement at 55% the cost of the sticker price (~$53,000). This involves either forming an LLC, or buying the one that was created by the original investor who funded the project. At that point, the system becomes ours, and we become the "investor" with our LLC selling the electricity generated on the open market (as well as too ourselves for effectively "free" electricity). Because this becomes a business venture, we can depreciate the cost of the equipment (i.e. the trackers) against our tax liability for the first 5 years). In general, the trackers would general $6k in electricity per year, obviously increasing with utility rate increases. Am I crazy for considering this? $7500 and 10% off electricty costs up front, spend ~$53,000 in 5 years to purchase the system (in part using the original $7,500 and saving for it instead of taking our a loan) and sell power over the remaining 20 or so years of the systems life. I would net something like $55,000 (most of that coming in the last few years of course) if I lived at my house for the next 25 years. We are young and with 2 small kids so generally plan to be here around 20 or so years but you never know... If for some reason we did sell before we bought out the buyer would have to assume the PPA (and then they would have the buyout option as well). Would this be a major turnoff for a buyer? Once we buyout the system, we could simply include the cost into the purchase price of the house if we sold, but does adding $35k or $45k onto a $400,000 house for a solar system that will generate an income make it more appealing or less? I have to think that future home buyers would appreciate turnkey solar. And of course, am I stupid for doing this in the middle of a potential Democratic wave which will likely come with extended solar tax credits and incentives? We've considered doing a smaller single tracker or rooftop system for our house, but I like the idea of supporting solar and earning some additional income. Am I being too greedy here? Really appreciate any insight, considerations, or thoughts, thank you! [link] [comments]  |
| Posted: 02 Nov 2020 05:11 AM PST My annual bonus structure was to receive 15% of my salary. My company just announced that I will now be receiving a 6% bonus, but the 9% that was removed will be added to my salary. I think this is an overall net positive for me, however, there is one factor that I think makes this a negative. With my Annual Bonus, there is typically a performance modifier added in. So earlier this year, I received a 15% bonus + a performance modifier of 170%. ((Salary.15)1.70) So as you can imagine, I got a really great bonus. Now, with the lower bonus amount, the modifier won't go as far. ((Salary.06)1.xx). What is everyone's take on this? Since bonus isn't guaranteed, should I just shut up and count my blessings? [link] [comments]  |
| Posted: 02 Nov 2020 11:50 AM PST I received an email from my boss today and it went like this: 1) Same as cash: interest-free if paid in full within a 24-month period; monthly payments of $27.32 per $1,000 borrowed for 48 months at 13.99% APR 2) Fixed monthly payments of 24 months; monthly payments of $41.67 per $1,000 borrowed for 24 months at 0%APR. On purchases of new and in-stock qualifying Yamaha pianos. from Nov 1,20202 to Jan 4, 2021 I don't have much of a background in finance but I work the front desk and am expected to know what all this means when people have questions. Any help would be GREATLY appreciated. [link] [comments]  |
| Should I have a professional look at my tax returns? Posted: 02 Nov 2020 04:08 PM PST I was looking at my 2019 tax return and calculated that I had a 22% income tax burden. Not tax bracket but income taxes paid relative to my total taxable income. That seems like an AWFUL lot to me. But I'm single, no kids, only a modest mortgage. I make under $130k. Is this amount normal? It seems ridiculously high to me. Should I have a tax person look at my returns? I use turbo tax. [link] [comments]  |
| TD BANK denied my fraud claim twice, what can I do? Posted: 02 Nov 2020 05:52 PM PST Someone hacked my chipotle account that my debit card was saved on as a payment method, I noticed before they can go over $400 and alerted the bank ASAP, the lady on the phone told me she was going to freeze my account and I'll just have to go to the bank and pick up a new card and I can dispute the purchases once it post, I calmed down and understood, by her doing that I was logged off the app and I couldn't see any transactions being made and etc, next day I go to the branch I'm getting told by the lady at the desk that I have purchases made by chipotle totaling up to $4400, I told them I clearly didn't make those purchases and that it's fraudulent, she disputed the charges and I been told to wait for a letter to arrive In the mail, a week goes by, first letter I'm denied & I was super frustrated which I still am, I called and am told the lady didn't dispute it correctly etc etc, so I was told to wait again for a letter in the mail, today I received it and it was denied again and I'm told they find nothing fraudulent! How???? Can they not clearly see these orders were placed from multiple different locations around the country??? I called and I'm told unfortunately they can't do anything about it and to make a complaint with the cfpb, I did that already and they haven't reached out yet, I'm waiting, idk what to do, I'm so mad and that's a lot of money for me to just lose... chipotle was no help and only offered me free entrees if I were to make an account with them again.. what can I do? [link] [comments]  |
| 100% Disabled Veteran w/ Pension Age:23 How to invest? Posted: 02 Nov 2020 08:32 PM PST Good afternoon, I have no experience whatsoever with finance or investing or anything like that. I have no clue where to even start. Currently I have $40,000 USD just sitting in a bank account. I am also a 100% disabled veteran and I receive about $3,500 a month in veteran affairs disability compensation. I will receive this for life. I am 23 years old and a single man. I additionally receive $1,700 a month (and free tuition) while I am attending online college classes. This education benefit will only last for 36 months. (Post 9/11 GI Bill) I currently live well below my means and save most of my income. What should I do with this money? It seems foolish to just leave it in a bank account and let it sit. EDIT: I forgot to include that all of my money is tax-free or non-taxable income EDIT 2: I forgot to include that my compensation adjusts every year with inflation. So every month I will always receive $3500 of today's dollars. [link] [comments]  |
| Moving out at 20. How should I go about this? Posted: 02 Nov 2020 07:45 PM PST Hello! Made an alt account for security reasons but that's besides the point. I honestly don't know how to start this. My parents are pretty much narcissists and have been really controlling ever since I remember. They're not exactly THE worst people either, but their need to control or influence almost everything I do has been taking a toll on me and I think it's time I take my leave, not to mention that they're really negative people. They like to say they're realists and while that is true to a degree, I'd say they're mostly pessimistic. They constantly knock me down a peg almost every chance they get. For example, making me pay for stuff they should be paying in the first place and making me go around town getting stuff for them almost every day. And while I agree that once a son/daughter is old enough to help out, they shouldn't be punished/talked down when they are in shortcomings. My parents constantly scolds me for why I'm always so emptied pocket by the end of the week when I'm the one paying for the food (sometimes other stuff) for the house a lot of times despite my dad making WAY more than me. And to add insult to injury, my dad is my boss (we do construction-like work), so sometimes he HOLDS my money on purpose when I'm supposed to be payed. I would work somewhere else but I know my dad isn't going to seek the help he literally needs for the heavy duty stuff he does so I go with him to make sure he doesn't get himself killed. I save him SO much money by doing multiple jobs for him that would otherwise cost him a fortune if he actually did pay someone else. Need help painting something? Me. Need help filing and reading/making business emails? Me. Need help buying expensive materials for the job? Me. Need help loading some heavy cargo and using THEIR OWN TRUCK to drive across the fucking city? Me! I'm sick of it and I want to fucking move. Even in days when I'm supposed to have a day off, we do other side projects he needs to get done. And he still pays me regularly despite doing extra odd-jobs, I rarely get a bonus. My dad literally takes it for granted that I go out of my way to help HIM! I won't even go to full detail of my mom since I think you got the point. In short, she's obsessed where I'm at and what I'm buying in days when I'm not out working. The only good thing is that I don't pay rent but I do however help pay several bills and get constant non-paid jobs with him. Here's where I'm a little lucky though. I have a younger brother (18) that has also been wishing of moving to escape our parents as well. I have around 1200 dollars while he has 800 to start this journey. There's a WHOLE lot more details into why I'm in the state right now but I would like to cut to the point. How would I go about moving out as "smoothly" as possible? Any potential pitfalls? I would like to move out with him, regardless if our first apartment is shit. [link] [comments]  |
| How much should I contribute to my 401K? Posted: 02 Nov 2020 05:42 PM PST So my employer will match 100% of the first 3% of pay I contribute and then 50% of the next 2% of pay I contribute to my 401k. What percentage should I contribute? [link] [comments]  |
| Would I be dumb to spend 50% of my take-home monthly income on rent? Posted: 02 Nov 2020 06:53 PM PST I currently live in an apartment in Chicago but I really want to move (landlord never turns on heat, my balcony doors don't lock, the washer/dryer is in a different apartment down the street, etc). I recently found an apartment I'm absolutely in love with, but it would be 50% of my monthly take-home pay. Would I be an idiot to pay $2200 for a 2-bedroom apartment to myself? I make $96k per year, contribute 10% of my paycheck to my 401k, have maxed out my IRA for 2020 (plan to continue to do so each year), and have 7k in a high-yield savings account. I'm currently paying $1.3k for my apartment and $175 for parking, and this new place would include parking. Would it be okay to get the new apartment or should I just suck it up and stay in my current place? [link] [comments]  |
| Posted: 02 Nov 2020 12:08 PM PST A few months ago I was fortunate enough to be included in a pre-IPO offering. The investment was done as part of my bonus for the year so none of my own money went into this. Today, one of the investors offered to pay me for my shares in the amount of $15,000, 50% more than what was initially invested. To me, there are 2 ways to look at that. The other person clearly sees this as something worth buying into and therefore it may be worth holding onto myself. On the other hand, this is a guaranteed 50% return on a 4 month investment and there is no illiquidity issue while we wait for the IPO, which could never even happen. I also look at this from a pragmatic standpoint. 15k would pay off an entire car loan right now with about 3k to spare. Or, is a good chunk of a down payment on a house. My wife views it from the other side though. We have nothing to risk by holding on. The bonus was unexpected so anything that comes from it is a gain, unless obviously the company never goes public. We are probably not buying a house for at least the next year to year and a half and by then the company could have gone public and we'd have that money to add to whatever down payment we have save by then. We are also on a trajectory to have that car loan paid off by then as well. Her argument is we don't technically need the money right now, even if it would help cut down our debt. I've gone back and forth on this but I need to answer by tomorrow. [link] [comments]  |
| Posted: 02 Nov 2020 01:59 PM PST I'm 24 years old, currently pursuing a second bachelor's degree in something I don't even know if I want to complete. I've been struggling with depression and anxiety and thinking about dropping out as my degree isn't even related to something I am doing for income right now. My grades are above average, but school is a lot on my mental health and it's been a lot to deal with in conjunction with struggling with my chronic illness (Grave's Disease). During COVID I started game development and have been very fortunate, I launched a game which has received a lot of success. As a result I have been able to get a very nice income from it, however it is unsteady. I made $25k in the past month. Here's a look at my financials:
I anticipate to continue my game for the next few years, however it's uncertain. I've been considering dropping out of school to be able to focus on my game development career full time, however am hesitant as I don't know how long it would even last for. The degree I am currently in, I'm currently in 2nd year and would result in a stable career which is in high demand, but has a modest/average income expectation. I'm not very financially savvy at all, and not sure where to even begin. I know that my money is going to waste by just sitting in a bank account, as I am not investing in anything at the moment. I plan to consult with an accountant as well when it comes time to file taxes, as I know I have a significant amount of taxes to file for, and I have set aside money to pay that. Any advice is appreciated. Should I drop out of school and just focus on my game fulltime and try to save enough as I can over the next few years and then return to school in a few years? Or should I just try my best to graduate and continue with my game part time? [link] [comments]  |
| Posted: 02 Nov 2020 06:32 AM PST I will be inheriting my father's home. It is a small, 2 bedroom with a walkout basement, fenced yard and garage. The house is over 100 years old, was not maintained very well and as a result needs some repairs (roughly 5k-10k). My question is whether we should sell the house or rent it out. If it sells it will fetch around 55K-65K (it's in a sketchy neighborhood, no shade I grew up there), if I rent it out I can get around 750-800 per month. We have no student loans or car payments. We just really aren't sure whether we should rent the house out for a year or two to recoup the money we spent on improvements or quickly sell it. We profit either way. My main fear with renting it out is I know it's an old house and not the greatest neighborhood, I worry about being saddled with a money pit or aggressive tenants. Selling I would deduct around 15K from profit due to repairs, realtor fees, taxes, etc... it would still be an okay amount though. What should we do reddit? EDIT: Definitely going to sell. My father passed last month so I think I had played the landlord thing in my head with rose colored glasses, even though I knew it was a bad idea. Thanks for the push! Let me know if you guys would like an update when it sells. [link] [comments]  |
| 401k balance is entirely gone, help! Posted: 02 Nov 2020 08:23 PM PST I switched jobs earlier this year and my new 401k doesn't kick in until I'm at my new role for an entire year. Upon leaving my old job, the company told me I could leave my account for as long as needed until I was able to rollover. Well, today I checked in on my standing account and the balance was at $0 with the entire amount deducted in October. I've immediately reached out to the 401k company and sent an email to my old HR team as well for any insights. What could be the reason for this? I'm of course stressing out, but read online that it could be due to a change in my old company's contract with the 401k company. [link] [comments]  |
| Posted: 02 Nov 2020 06:47 AM PST Hello there. My girlfriend and I both graduated college last year and I'm coming up on a year at my first "real" job in January. We both live with my parents rent free and they told us we can stay as long as we like. Our goal is to use this time to pay down our student loans aggressively so we can eventually get married and buy a home. And yes, we will not combine finances / buy a house until married. This is more about my budget. Gross I make about $3500 a month. My monthly budget looks like this: $500 - Car and Insurance (more insurance than car payment. I work for an OEM so the car was cheap) $1000 - Student Loan Payment $200 - Roth $300- Savings $150 - "fun" spending money $70 - Gas $20 - Cellphone $5 - Apple Music I try to keep my spending incredibly low so I can throw as much money at my loans as I can. Most months, I spend far less than my "spend" allotment and just end up throwing it into my savings account. In terms of my assets I have: Around 10K in savings. Around 5k in checking. 10k in my Roth 15k in savings bonds. As soon as the 0% for federal loans expires, I'm going to make a lump sum payment on my loans for the entire 15k. I have about 60k worth of loans. They are federal and currently at the 0% rate. My girlfriend and I have the goal to have our loans cleaned up within 4 years so we can then start saving for a house. My parents said we can stay as long as we like. It really isn't bad since we have our own level of the house with a kitchen, bedroom, and bathroom. Is it bad to stay this long if they allow it? It feels like a great opportunity to pay off loans and save money. How does my budget look? My only weak spot I believe is my car and insurance. I'm 23 so insurance is very expensive. Public transit isn't an option for me so I need to drive to work. Granted, I'd love to improve my income. I'm not sure if 42k is considered "good" for a first job out of college. I'm thinking about getting more schooling for free through my company. They will reimburse tuition in exchange for 2 year contract. I'm considering on getting an MBA part time since it's free. Does that sound like a good way to boost my income? I like the company so I have no issues with staying for a while. I'm lucky because I have an interest in finance / business and was able to find an entry level job in it even though my degree is Political Science (yeah I regret that a ton). I work for an OEM so the car was bought with employee discounts. The discount made it cheap enough where it will never be underwater. When I'm ready to move out, my plan is to sell it and dump any positive equity in my loans. Are there any other surefire ways to boost my income in the future? Combined my girlfriend and I make about 110k so I'm hoping that's enough to live comfortably enough until we can boost our incomes. Please let me know if you have any questions or need clarification. Thank you! [link] [comments]  |
| Company no longer has 401k - what should I do to invest for my future? Posted: 02 Nov 2020 01:25 PM PST Hi! I'm sorry if this is too basic of a question, but I'd love your help. Because of my covid, my company has gotten rid of their 401k plan and does not plan on returning it. It was kind of a bad plan to begin with, and I stupidly never signed up with them before this happened anyways - so I don't really have one at all. I have about $3,000 sitting somewhere from my first job (what do I do with that money?) Anyways, I need to take saving/investing into my own hands. I'm 23 years old and bring home $3,800 monthly post tax. I'm incredibly fortunate to not have any debt (minus car payment) and my expenses are low - all required expenses total to about $600 monthly. This excludes "fun" money - it varies depending on how much I want to spend. I've been putting about $1,000 into my savings account every paycheck and have $32,000 saved with $7,000 in my checking. I feel like that's not bad, but that's basically all my money - it's not spread out like I think it should be. Do you guys have any advice on what I should do with some of the money in my savings so I can prepare myself for the future in lieu of a 401k? I initially was saving for a house down payment, and I still want that, but I think I can maybe still put a good chunk of money into investing or something else?? If there's somewhere I should be directed for such a simple question, please let me know. Thanks in advance! [link] [comments]  |
| How to efficiently inherit assets (tax wise) from elderly grandparent? Posted: 02 Nov 2020 08:09 PM PST Hello all. My grandmother is in her late eighties, with a terminal illness. Her expected diagnosis gives her approximately a year to 15 months left. She has left me as the sole benefactor of her estate, in her will. She has informed me that I am inheriting the following: A house with an estimated market value of $1.5 million. She has multiple bank accounts with about 125k in cash in total. Two safety deposit boxes with 2 banks with about 50k more in cash, jewelry, family heirlooms, etc... She may also have investment accounts with a financial advisor as well, which I am helping her find out. (She has some memory problems at her age so she may have forgotten about them.) Also, she has no 401k/retirement accounts as most of her assets were earned in a a private family business. One issue I have that I am trying to solve right now is the house. Basically it is a multi-story home that she lives in with my parents. The rest of the apartment in the house is rented out. My parents are moving out to a new house in a few weeks and because of her health, she wants to move in with her sisters family (my uncles). It is her wish that I keep the house despite my desire to sell it. (I would not live there again, I have an apartment I live in already, and I travel quite often for work, so it would be difficult to collect rent/provide maintenance. However, the house could potentially provide about 50k in income a year from just from fully renting out. property tax is around 10k I believe. She has suggested I find a lawyer to help enact the process of transferring the home to my name if I were to decide to sell the home. So a few questions I have: 1) If I were to keep the home, I would want to hire a lawyer to enact the transfer beforehand. Is this necessary as my name is already on the will? 2) Secondly, what are the tax implications if I were to sell the house? It has been in my family for over 35 years and has appreciated in market value tremendously. So I'm assuming I would need to pay some capital gains taxes if I choose to sell. 3) Would I have to pay a tax on the money in the bank accounts or the cash in the safety deposit boxes? I feel like it would be wise to transfer this out. Thanks all [link] [comments]  |
| Posted: 02 Nov 2020 07:57 PM PST My current employer only matches 401k contributions at the end of the year. If you're not employed on that day, you get 0 match. However, I'm quitting next week and starting a new job at the end of the month. My new employer cannot wait til the new year for me to start, so they are covering the money I'm leaving behind and then some. 20k total. How should I invest this 20k (~14 post-tax) for retirement? My Roth IRA is maxed for 2020 and I will be over the 139k limit in 2021. Should I do a backdoor Roth IRA? Or hold off til I have more funds to do it with? Should I live off the 20k 'retirement' and drastically increase my 401k contribution for the next few months? I do not want to miss a year of retirement saving. 30 NYC [link] [comments]  |
| HSA Reimbursement for Dependents, but no longer a dependent Posted: 02 Nov 2020 02:42 PM PST I have an HSA, invested it, and am saving receipts. Ideally, I'd like to let it grow and reimburse my eligible medical expenses after I retire. I'm in my 30s now. Question: I would like to reimbursed eligible medical expenses incurred by my dependent at that time as well. However, I expect at the time of my retirement my kid will no longer be a dependent. Is it possible to reimburse myself, from my HSA without penalty, expenses that occurred while my kid was a dependent even if that kid is no longer a dependent or hasn't been one for years? [link] [comments]  |
| Tax Warrant in need of dispute from 2013, what are my options? Posted: 02 Nov 2020 02:36 PM PST So a little back story. I was active duty military between 2009-2015, and during the years of 2010-2012 I was stationed in CT. While in CT, I registered my car within the state. I then moved to Virginia Beach VA between Fall 2012 - 2015. Then I moved to New York for a new career, and the car was last registered here. Fast forward to today, I live overseas in Europe. The issue now is that CT has tried to collect taxes on the registered vehicle for the year of 2013. I know that while in active duty status, I was exempt from the vehicle taxes. I have plenty of paperwork and order copies to back up my status for the 6 years. In fact, I am 100% sure that I contacted the Tax office in CT by phone in 2013 and mailed them orders from VA after receiving letter at the time. For many years they didn't bother me, almost 7 years! Now my father contacted me today about a letter he received (October 28th) stating they have placed a tax warrant on this non existent vehicle (totaled and paid out by insurance before moving to Europe). Can anyone please tell me what my options are? The letter states not to contact the Tax Office, but instead to contact TaxServ, which is just a collection agency. Should I just call the tax office anyway to dispute it? I have no intention of paying something I was never obligated to pay to begin with. I read somewhere there is a Tax assessor to contact with a requirement for an application along with my DD-214 (record of honorable discharge) copy, is this too late now that there is a Tax Warrent? I apologize if my responses are delayed, its currently 23:30 CST and I have work in the morning. I'll respond so long as I am awake, otherwise after I wake up. Thanks in Advance. [link] [comments]  |
| Should I be utilizing my company’s 403b and HSA? Posted: 02 Nov 2020 07:34 PM PST So I'm 25 and have been with my company since early this year. It's only my second job in my career and the retirement option given was a 403b through Mutual of America. However, there was absolutely no company matching in the first year (I don't believe it goes up much) and the fees seemed a bit high. So based off of the r/PersonalFinance sidebar, I have opted to only contribute to my Roth IRA at this point and invest in a target date. I also have a HDHP through my employer and I know they offer an HSA, but I did not opt for it originally because I wasn't comfortable putting money into something I wasn't familiar with at the time. Basically I'm just trying to figure out what is the most logical option. Should I be putting money into the 403b and opening up an HSA during open enrollment? [link] [comments]  |
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