Personal Finance I received an unsolicited debit card and reported it to the company, who is now requesting tons of personal info in order to open a fraud investigation? |
- I received an unsolicited debit card and reported it to the company, who is now requesting tons of personal info in order to open a fraud investigation?
- My wife was overpayed by her company in 2019; how do the taxes work?
- Would it be unwise to pull $35,000 of my $70,000 Roth for a down payment on a house?
- US income but no US presence
- I'm on the verge of losing everything
- Getting rid of 11k of Credit debt with 23% APR
- I think my "financial advisor" is trying to take advantage of me.
- Other than IRAs, HSA, what are my options as a W2 employee for tax sheltered investing if employer does not offer 401k/403b?
- Should I keep track of Charitable Contributions (only $500 a year)?
- Cancel Flight Within 24 hours: Airline website doesn't work!
- Could a normal person buy a house in a manner that shields it from medical bankruptcies? (US, obviously)
- How do I split finances with my SO?
- Employer Taxes for End-Of-year Bonuses. Am I being scammed by my employer?
- Overseas mortgage in devaluing currency, pay it off early?
- What’re my options
- Has anyone made a substantial purchase as a Christmas gift for a significant other?
- Is there a place where I can get a private loan to pay for an oral surgeon operation if my insurance (Medi-cal) can’t cover the entire thing?
- Guy on craigslist wants to give me $200 cash and a check for the difference for my used truck.
- Sister ordered to pay back all unemployment compensation. Help!
- AT&T sending me bill after over six years.
- Business Coach worth it when I only have so much money...
- Wife got paid an extra $10k at work over past three months. What’s best way to give it back and how does this affect taxes?
- Do you need to start 401k even if you'll quit the job?
- Would it be unwise to sell my condo and purchase a SFH?
- 401k question for beginner
| Posted: 01 Dec 2020 05:05 PM PST I got a debit card from MetaBank/MoneyLion in the mail, correct name and address, but I did NOT apply for an account with them. I did not activate the card, and found the support number on their website. Customer service opened a case and told me they'd email me an affidavit that I'd need to have notarized and return. They couldn't tell me anything about the account (which state it was opened in, if there was money in it). They also said they couldn't cancel the account until I returned the requested info to their fraud team. I get the email from their fraud department a few days later and they are requesting the following, along with the affidavit: **A copy of a Police Report stating that you are the victim of Identity Theft** **A copy of your valid and unexpired Driver's License or Government Issued ID** **A copy of your Social Security Card** Excuse me, but I never requested this debit card to begin with. I am not going to give them any more of my personal info. Is there a way I can report this/have the account closed without dealing with them directly? I live in Kansas, if that helps. [link] [comments]  |
| My wife was overpayed by her company in 2019; how do the taxes work? Posted: 01 Dec 2020 07:24 AM PST Hey folks! So, my wife was accidentally paid for an extra week after she left her previous company back in 2019, and it wasn't realized until this year. The company (and its collectors) have been reaching out to us, but they're asking for the gross amount back, pre-tax, rather than the actual amount post-tax which was deposited into our account. I'm not sure how this works. Since taxes were already filed and paid for the tax year in which the overpayment occurred, what are we responsible for reimbursing them? Additionally, am I correct in saying that they need to provide us with a corrected W2 and we need to reach out to our accountants to have them file a corrected tax return? This is in NY state, by the way. Thanks in advance for any help 🙂 Edit: I'm heading into a dentist's appointment, but I'll answer any questions as soon as I'm done. [link] [comments]  |
| Would it be unwise to pull $35,000 of my $70,000 Roth for a down payment on a house? Posted: 01 Dec 2020 08:58 AM PST My wife and I (and our three kids) recently moved back to a big city after being gone for 10 years. The covid prices are outrageous. We are basically $50,000 short of what we either 1) Want to buy 2) Need to do to a house if we buy 50k lower. We've considered buying something cheaper, but this is going to be our forever house. I have never touched my Roth. However, the $35,000 would all be contributions, so I know I would be taxed on it. I separately have a 401k worth $550k right now, 3 529 plans, and my wife has her own 401k/Roth that she would not touch. Long and short is we don't have the liquid right now. Our rental lease is up in 6 months so we need to start moving on something. Thoughts? Thanks. [link] [comments]  |
| Posted: 01 Dec 2020 10:52 AM PST Hello, I am not a US citizen nor green-card holder, I have a Work Visa, I started employment on February 2020, on March the stay at home order started and I have been working from home since. The problem is that 'home' is located on another country, I live in Mexico near the border and the US workplace is also close to the border. In this sense, I am not a 'resident alien', according to IRS (https://www.irs.gov/individuals/international-taxpayers/determining-alien-tax-status no greencard and no substancial presence), my employer withholds federal and state taxes, should I file income taxes? I am a tax resident in Mexico so I am REQUIRED to file taxes here . Please advise Regards [link] [comments]  |
| I'm on the verge of losing everything Posted: 01 Dec 2020 01:17 PM PST I am 22 years old with $27,000 of debt. For the last year I have been trying to eliminate my debts, and now i lost my job 3 months ago. I financed my $20,000 car at 19 when i was making between $3,500-$4,500/month depending on how much OT i worked. I still currently, almost 4 years later, owe $20,000 on the car because appearently all of my $565 payments have been paying off interest. I owe $7,000 in misc other debts I have buried myself in since I was 18. I have no income coming in at the moment, not for lack of trying. I am 3 months behind on my car payment, so i am expecting it to be repossessed anyday now. I cannot trade it in or sell it because the value of the car is now $6,500, and I will still owe the remainder of the $20,000 i owe after they take the $6,500. I have sold what items i can to make small (not full) payments to attempt to dissuade them from repossessing my car, but I have nothing left I can sell. I have been actively looking for a job, but there is nothing available that will put a dent in my debt. I am trying to figure out how to file bankruptcy, but I have been quoted between $1,000-$1,600 for the fees...which i obviously do not have available. I realize I made financial mistakes when I was younger, but although my mindset has changed within this last year, it is irrelevant because I am chained to these mistakes. Any advice of what I can do in this situation would be greatly appreciated because I truly cannot find a solution. I feel I my car is inevitably going to be repossessed, and then i will truly be utterly fucked. [link] [comments]  |
| Getting rid of 11k of Credit debt with 23% APR Posted: 01 Dec 2020 10:36 AM PST 23 yr old M Have been juggling this debt by making the minimum payment for the last year and getting no where. I have a 640 credit score and cannot save up enough money to pay it off as fast as I want. Next option was to refinance by transferring or paying off the 11k by taking a personal loan or getting a newer, lower apr card. But have had no luck getting a lower APR card. Or getting approved for loan. Anyone have experience or tips to getting rid of the 11k debt? This is really putting myself getting a home on hold. [link] [comments]  |
| I think my "financial advisor" is trying to take advantage of me. Posted: 01 Dec 2020 07:06 PM PST Hi I am a 25 year old recent graduate currently making a $63,000 annual salary in the engineering field. I was talked into financial planning services from a friend who's company works under the parent company Mass Mutual. I was skeptical at first because they sell whole life insurance and claim to also be financial advisors. I didnt like the thought because obviously there is a conflict of interest. I know they make money off of commission from signing up people to their plans. When I hired them, I told them specifically that I did not want a whole life insurance policy. Im very against it and think money could be used better in other investments. I told them I only wanted financial advising which they charge an annual fee of $1000 to do on top of trading fees, percentage of total investment, etc. I figured it couldn't hurt because I could see what kind of returns I get the first year and then continue or leave accordingly. When we first started the process they get me scheduled with a check up to see if I qualify for long term disability. They told me the check up was only for that. After I qualified they told me to get the insurance through Mass Mutual without even showing me other competitors rates. when I asked them why we were going through MM they said cause it had the best rates. After I signed up for this they then proceed to talk to me about getting set up to save for retirement. Keep in mind I am perfectly ok with living off of 50-60k a year in retirement. They never even asked me how much I want to live off of after I retire. All they do is give me two retirement saving options to choose from. Both options get me to the same amount of savings in the end but one involves I set aside $750 monthly and the other involves setting aside around $1600 (about half of my take home pay). Coincidentally the one that involved lower monthly payments was a whole life insurance option which they told me I qualified for because of the medical check up I did for long term disability. The $1600 option involves them setting up a brokerage account for me where they will manage my account for me with an expected return of ~5% annually. I have never heard of anyone my age having to save 50% of their income to have enough money in retirement and think they are just trying to collect trading fees and commission. I dont know anything about retirement or how much I need to save but I find it hard to believe it would be this much. They never even talked about trying to max out an IRA or anything like that either. Can anyone give me some insight and opinions on this company? Edit: paragraphs [link] [comments]  |
| Posted: 01 Dec 2020 08:53 AM PST Our company is converting into W2-based employment for the first time starting in 2021 (previously, we all were independent contractors). We are a small company with lesser than 50 employees. The benefits we will receive from the company is a bit bare - won't be offering 401k, at least not in 2021. I max out our IRA, HSA, and 401k contributions every year - what are my options beyond the usual maxing out of our IRAs and HSA for tax sheltered investing/savings? I have a solo 401k with Vanguard that was newly opened for this year while I was doing 1099 work if that matters. Am I allowed to add money to solo 401k in 2021 as a W2 employee? Thanks in advance. [link] [comments]  |
| Should I keep track of Charitable Contributions (only $500 a year)? Posted: 01 Dec 2020 11:57 AM PST Every year I give $200 to Donors Choose and $300 to Modest Needs. Whenever I do I get a receipt for "tax purposes." I've always just taken the standard deduction (my wife and I make ~120k/yr combined) but were both kinda wondering at what point we should be tracking charitable contributions? We have a little bit left over each month that we were thinking of making into an ongoing monthly contribution to our local food bank, that got us thinking about this question. My gut reaction is that we don't make enough to do an itemized deduction so charitable contributions won't really matter. Thoughts? [link] [comments]  |
| Cancel Flight Within 24 hours: Airline website doesn't work! Posted: 01 Dec 2020 03:22 PM PST I booked a Summer 2021 flight out of the US last night with a European Airline, with the assumption that I had 24 hours to decide if I should cancel it. Their website explicitly said so. A few hours after consulting my family, I decided to cancel it. Now the website keeps throwing a server error when I try to cancel the flight/request a refund. I've been trying for hours. Desperately, I called their Call Center (International call for over 30 minutes). The operator insisted I could only do this online. When I pointed out the website error I keep getting and read him the server error messages, he hung up on me. What are my options? Is there anything I could do about this? [link] [comments]  |
| Posted: 01 Dec 2020 02:42 PM PST I'm looking into buying my first house but I'm terrified about the prospect of losing it in a medical bankruptcy. I have medical insurance and I'm not in any immediate danger of illness but my health isn't great and this pandemic hasn't helped. Is there any way to structure ownership so that the house is protected? [link] [comments]  |
| How do I split finances with my SO? Posted: 01 Dec 2020 05:51 PM PST I know this kind of post has been made a million times but I'm at a loss here. We have vastly different incomes. I make about 1200 a month, he makes 5000+. Even when he works less, it's at least 4000. So far we've split it 50/50 but it's getting so stressful for me having to worry about money and paying for emergency stuff that comes out of nowhere (needed new car tires recently). If we split it according to finances, he'd pay for like 75-80% of the stuff, which doesn't seem fair, so what would be more reasonable? Thank you for any advice. [link] [comments]  |
| Employer Taxes for End-Of-year Bonuses. Am I being scammed by my employer? Posted: 01 Dec 2020 04:39 PM PST My financial knowledge regarding taxes is limited so apologies in advance if this is a stupid question. I work for a Management company that is hired out by an HOA to run the building. Me and another employee work on-site throughout the year and at the end of the year, the HOA gives us a holiday bonus. Last year I was awarded $3,500, but my company claimed that they are required to pay employer taxes on this amount since it goes from HOA to the Management company and then back to us. That means that 17% is taken out of the initial $3,500 and then paid to us through payroll, which then takes out about an additional 40%, leaving me with $1,700. At the end of the day, I can't complain about any bonus I get, but I was just wondering why my company is required to pay the initial employer tax when I am taxed 40% on the bonus anyways. It was also sketchy because they initially called the 17% fee an administrative fee and now claim that it is to cover the employer tax. Any advice I can get is appreciated! [link] [comments]  |
| Overseas mortgage in devaluing currency, pay it off early? Posted: 01 Dec 2020 07:10 PM PST My situation is both unique and fortunate and I'm not sure what to do next, with my life or career, but to the point of posting in this sub, what to do financially. I'm 34 years old and worked abroad as a journalist in Lebanon where I have citizenship (also a US citizen). I left my job in 2019 and returned to the US, moving back to my parent's house who allow me to live rent free. I returned because I was burnt out and felt I had hit a dead end over there career-wise, and was just making ends meet without much of a savings. I had student loans to pay and, at the time that I left, a significant monthly mortgage payment. A couple years before I left Lebanon I bought an apartment – we're a diaspora family so it made sense even if I wasn't going to stay living there. Because of that country's financial collapse and currency devaluation I could pay off my 30 year mortgage (27 years remaining at 3%, denominated in the local currency) within the next year or so, depending on the fluctuation of the local currency against the US$. As it stands today, my mortgage would cost $25k to pay off – I have about $6.5k still in Lebanon for the monthly payments, so I'm just waiting to see what happens over there. I've been working since returning to the US making $65k annual salary before taxes working in supply chain analytics, not a pure data analyst role but is possibly a career to work towards as I improve my hard skills. Not sure that's what I want to do but not the main point of this post. Since returning, I've paid off my student loan debt and have no credit card debt - the only money I owe is on that mortgage in Lebanon. I've put away about $13k into my 401k and contribute to my HSA. I have $9k in a HISA, and about $2k in a checking account. I also own a very small amount of bitcoin. Should I wait to see what happens with my overseas mortgage - meaning, should I keep my cash on hand higher to pay off that mortgage early? I would like other opinions, though think I should continue to wait and see what happens over there. I expect the local currency to at best maintain its current price against the $ but it is very likely that it devalues even further. Am I leaving too much cash sitting idly, or is there a better short-term use for it? I would like to purchase another property but am also not convinced I want to settle down in my parent's area. And I also do not wish to keep freeloading off my very generous parents much longer. Appreciate any insight and advice. Life advice also welcome, thank you! [link] [comments]  |
| Posted: 01 Dec 2020 07:26 PM PST My current salary is $55k a year, looking into buying a house. What should be an ideal mortgage for someone with no debt and owns their vehicle and almost $20k in savings? [link] [comments]  |
| Has anyone made a substantial purchase as a Christmas gift for a significant other? Posted: 01 Dec 2020 07:20 PM PST I am looking for tips on how the optics of this might work. My wife and I have been talking about buying new iPhones, sometime after the new year, once we hit a specific savings goal. I was running the numbers today and we are within spitting distance of that goal, we should hit it by early to mid January. We have never been big holiday spenders, so after running the numbers I thought this might be my shot to surprise her with a "big ticket" Christmas item for the first time by buying the iPhones for Christmas. However, I see a few issues:
Thanks in advance for any and all advice/tips you all can offer! [link] [comments]  |
| Posted: 01 Dec 2020 11:17 AM PST Hey guys I'm in a bit of a dilemma. So I went to my dentist this morning because I had really bad gum/wisdom tooth pain last night, and the doctor discovered that I actually have infections in all of my wisdom teeth and they want to do an extraction ASAP. The doctor found out I have cavities in my wisdom teeth and that the bacteria I can't reach with brushing/flossing is causing the severe swelling in my throat and gums. Additionally, my lymph nodes are severely swollen. He immediately gave me amoxicillin to fight the infection, and gave me a prescription for an oral rinse as well to try and get the swelling down. He mentioned that the swelling needs to drop down before a deep cleaning and extraction of all the teeth. My medi-cal covers the main extraction of all 4 teeth, but because of the severity of the infection, they need to sedate me, as well as do a bone graft and also mentioned plasma rich platelets as well to help with the blood clotting. I'm looking at close to 5,000 out of pocket after insurance. The office lady said If I cannot pay the 5k upfront, the only other option they gave me is to apply through CareCredit to do a monthly payment plan. They don't accept anything else but CareCredit. I applied earlier before my appointment for CareCredit, but I'm not sure how high my limit would be, as I've never even owned a card with that high of a limit before. I know this isn't typically recommended but is there any kind of private loans I can possibly take out and pay over time in monthly increments in the event that CareCredit isn't enough, or I'm not even approved at all? I'm a part time employee and don't make enough to pay for that all up front. Any help would be appreciated. [link] [comments]  |
| Guy on craigslist wants to give me $200 cash and a check for the difference for my used truck. Posted: 30 Nov 2020 06:16 AM PST Ordinarily I would immediately say no. But he is saying I can keep the truck, title and cash until I deposit the check and it clears. He says he is in no hurry to get the truck so once the check clears and I have the full amount, he will come back for the truck and title. Could this somehow be a scam? Edit: Thanks guys! I did not realize it could take weeks for a check to clear. I will tell him it's cash or nothing. Edit 2: I let him know it was cash or nothing and he said he doesn't need the truck right now so he doesn't need to give me all the cash right now. LOL. Looks like I avoided a scam. Thanks again PF. [link] [comments]  |
| Sister ordered to pay back all unemployment compensation. Help! Posted: 01 Dec 2020 06:51 PM PST My sister recently received a letter in the mail from the Vermont Department of Labor stating she needs to pay back all her unemployment benefits due to her "quitting" her job back in March. In March, she was working at a small restaurant and going to school in Vermont, but when the college closed she had to leave the area (came home to our state) and her place of work. I believe the restaurant stayed open during the pandemic as it is a small family run operation. Whether or not they formally laid her off I am not sure. When she first filed her claim, an employee of the Vermont Department of Labor walked her through everything, collected information, and processed handled and even approved the claim. There were no issues with her receiving benefits over the summer (both from state and fed levels) and it is only now that she has received this notice. We are trying to get in touch with the employee who helped her file her claim but are all a bit worried she will have to pay back the state the only money she has. Has anyone been in a similar situation or known of this happening? Is she legally obligated to pay back the money she was provided for unemployment? Thanks for any help [link] [comments]  |
| AT&T sending me bill after over six years. Posted: 01 Dec 2020 10:59 AM PST So, I closed this account mid 2014. Now, it's almost 2021 and they've emailed me saying I owe over $300. I've not received a bill, an email, a call, nothing, in the time since I closed the account. When I call at&t they can't do anything because I can't recall my pin code and so I took two forms of ID to a brick and mortar and the employees there couldn't do anything either. All they could see in the store was basic personal information on my old account, no charges for plans or phones or accessories. I guess their own in-store system doesn't go back further than the current calendar year? Any advice would be appreciated. Please. [link] [comments]  |
| Business Coach worth it when I only have so much money... Posted: 01 Dec 2020 08:22 PM PST I have $8700 in my bank account. I make $72k per year. My rent is $2,100. I'm married with 3 kids. Before our 3rd kid was born my wife had built a business where she was able to briefly bring in roughly 2500-5000 per month. Now that the baby is older it's time to get to work again however covid has shifted her business model quite a bit. She came across an opportunity from two business coaches where she had to submit her business ideas/aspirations and was "selected" to work with then. She wants to participate in a group for $3500 for 30 hours of 1 on 1 time over 3 months. She will also have access to 15 other people who are trying to propel their business forward for collaboration within the group. Other offerings are breathwork workshops and yoga. This is all online. Because her business model is completely different now, I dont have the confidence she will make the money back soon enough, and will financially cripple us. We have been paycheck to paycheck for our while lives up until recently where I got some bonuses and we had some cushion from savings. Anyways, in the past I've struggled to support her on investing in trainings for her work. While these trainings gave her the certifications she needed to operate, she did the business research on her own and killed it on her own. I dont think she needs a business coach to help with a business plan but what it really comes down to is I dont think we should be spending the money. We are broke. We always have been. At this point I'm ranting. Looming for guidance. Am I just not willing to gamble since I have so little money and so much to lose in going back to pay check to pay check? I know you need to invest in yourself/business to make money but this just doesnt seem wise to me. [link] [comments]  |
| Posted: 01 Dec 2020 06:03 PM PST Saw a similar post with good advice, figured I'd try here to see what to do. My wife got an extra $10k over the past 3 months this year, she never noticed, we could write the company a check for most of the $10k but that's all post tax. I believe the $10k is post tax too. What's the best course of action here? Should we make sure to give back the $10k before 2021 hits? Should we have them garnish the wages until the $10k is paid back? I'm just concerned how this affects our taxes, but I have no idea... [link] [comments]  |
| Do you need to start 401k even if you'll quit the job? Posted: 01 Dec 2020 04:47 PM PST Posting for a friend. He started a contract job at a company and they provide a 401k but with no matching. He thinks he won't work there for more than 3 months. Is there still a point for him to start the 401k with them? It's gonna be his first 401k. I think 3 mo is too short and if he has to roll it over to IRA or another 401k after 3 mos then it may not be worth starting? [link] [comments]  |
| Would it be unwise to sell my condo and purchase a SFH? Posted: 01 Dec 2020 07:33 PM PST Details:
I'm biased towards selling because I'm stress-averse and don't have patience for tenants, and would love to never think about my HOA again, for the rest of my life. But part of me feels like I'd be shooting myself 10 years from now when the property is worth 5x and cash-flowing like crazy. I'm a five-minute walk from Downtown Long Beach and a five-minute drive from the beach. It's a great location. Two gated parking spots, a park outside, top floor, corner unit, thick walls, quiet neighbors. For anyone who's been in a similar situation - what decision did you make, and how did you rationalize that decision to yourself? How do you feel about it now? What would you do if you were in my shoes? Also - am I right to be scared that my property value and rental income potential could become decimated by a long-lasting economic downturn? I feel like we're one catastrophe away from a depression, but I'm also extremely ignorant. Thank you for your thinking! [link] [comments]  |
| Posted: 01 Dec 2020 07:17 PM PST I have a dumb beginner question. So at my new job I maxed how much I put in my 401k that gets matched by the company. Which is 6%. I don't know much about it and nothing about stocks. Can I just let it sit there like that without touching anything and let it build? Hearing some people talk about money in 401k isn't safe and you could loose all of it. If that's true is it pointless to invest in it? [link] [comments]  |
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