Personal Finance H&R Block now add a $39 "Refund Transfer Fee" at the VERY END of filing your taxes. Does anybody know of a better/less expensive way to do your taxes for 2020? |
- H&R Block now add a $39 "Refund Transfer Fee" at the VERY END of filing your taxes. Does anybody know of a better/less expensive way to do your taxes for 2020?
- Is this condo way out of my price range?
- 20 y.o. and accidentally contributed too much to my Roth IRA
- Bank account closed due to negative balance
- Binge eating disorder is affecting my finances in a terrible way
- The IRS SSA have an incorrect birthday on file for myself and it makes doing taxes so much of a hassle.
- Should I buy an apartment now or wait
- YNAB is expensive
- Sprint will not cancel account
- How to politely decline a family-friend selling life insurance?
- Laid off on Jan 31, but a prospective employer is asking for salary history. Advice? Can I negotiate now?
- What to do with savings at 21.
- I am making a backdoor Roth IRA contribution in January for 2020, how do I report it?
- I Want To Start Investing/Buying Stocks. Help or Advice?
- I haven’t filed taxes in years and am going through a divorce now- we are still married so do I file separately or jointly?
- Car crapped out on me and my girlfriend today. We still owe 6k on it. Repairs will cost at least that. What should we do?
- One Man Business, how can I lower tax burden (401k, ira, etc)
- A hint for people with families/cultures that expect too much sharing: hire a financial planner
- Cancelling my first credit card?
- If certain tax docs like my 1098-mis, 1099-sa & 1099-div have no effect on my tax return, can I simply file without them?
- Where do you start with Care Credit, and what do you know before you actually get the account?
- So since I'm not moving I'm thinking it's time to get a new(used) car. Can I afford it? Is it worth it?
- RSU Advice? Cash Out or Keep?
| Posted: 26 Jan 2021 07:22 AM PST Title says it all. After wasting 30 minutes clicking through and being forced to get the deluxe package due to having an HSA, a window pops down for a brief second showing it's gone from $71 to $110 for NO REASON! H&R can bite me. Does anyone know of a less expensive way to file? [link] [comments]  |
| Is this condo way out of my price range? Posted: 26 Jan 2021 06:56 AM PST I'm looking to buy my first home and am pretty overwhelmed by the process, but after many tours, I found a condo I'm in love with. I'm just worried about the price. The total cost is $345,000. I only have 40k for the down payment, so my monthly cost will be around ~$2,200. Income: $110k ($5,200 monthly take home after all deductions/taxes). Current Expenses: $20 streaming services $70 electric $60 Internet $70 phone bill $400 groceries/restaurants (I know, we eat out a lot) $20 vehicle gas $10 renter's insurance $75 car insurance $1450 rent Total Current Expenses: $2,175 Leftover gets put in general savings (majority), travel savings, and entertainment. It's worth pointing out that my boyfriend and I live together and he pitches in ~$700 a month for expenses, but I've presented our total expenses here and only my income. I sure hope we don't break up, but I'm the one buying the place and only want to factor my salary into whether I can afford it. At first glance I feel like I would be ok, but I do worry because I'm breaking the rule about not buying a house that costs more than 3x your salary. Also, the monthly payments would be around 40% of my take home, which also sounds like a bad idea. It's just frustrating because like many places, the housing market in my city makes it difficult to find a decent home that doesn't break any of the common-sense rules of finance for a young professional. Thoughts? PS: for reasons I won't waste time on since this is already a wall of text, renting another year to save more is not going to happen. [link] [comments]  |
| 20 y.o. and accidentally contributed too much to my Roth IRA Posted: 26 Jan 2021 09:51 AM PST Hey everyone, I am a 20 y.o. college student and made the decision to open up a Roth IRA this year, and set up weekly contributions to make sure I stuck with my goal. When I opened it, I didn't know much about retirement accounts, but did know that $6,000 is the max yearly contribution; I didn't realize, however, that if I made less than that, I could only contribute up to my earned income for the year. I just learned that this week, and believe I contributed up to $500 in excess of my earned income limitation. I know that the IRS will tax the excess at 6% if I leave it in, and I could withdraw it before tax day, but also don't want to pay the early withdrawal fee. I was wondering if anyone in this sub has been in a similar spot before and/or knows what my best option is for saving money. Any help is much appreciated. Thank you all! [link] [comments]  |
| Bank account closed due to negative balance Posted: 26 Jan 2021 09:21 AM PST A few months ago my bank account fell into the negatives. Today my bank closed the account while it was still negative. I am going into my bank to set up a payment plan to repay them in a few days. But i'm just curious, what could potentially happen if I didn't pay the money back to the bank? [link] [comments]  |
| Binge eating disorder is affecting my finances in a terrible way Posted: 26 Jan 2021 04:50 PM PST Last month I spent $600 on uber eats. The month before, it was $460 Most days I will spend between $5-$15 on impulse binge food (cakes, cookies, things like this) I have just started to work with a psychologist about this. I see them twice a month and it costs $445. We're making progress, but it's slow. I am trying to fix this, but there is no denying that it is a slow process that will take time. I suspect it will be 18 months or so before I am "better". I have already got the cheapest phone, electric, internet and rent that I could find (I live in a family owned property and pay below market rent). I'm embarrassed, truth be told. I feel like an addict and I want to get better. I would really like to hear from people who have BED or who have recovered from it on how they went about fixing their finances. How did you encourage yourself to save money? How did you learn to spend less on food? How did you come to enjoy cooking at home more? [link] [comments]  |
| Posted: 26 Jan 2021 07:40 AM PST I found this out a couple years ago and have gotten around it by filling by mail as turbo tax won't let me e file unless I use the incorrect birthday which I never have. As a result it takes months to get my payment. The birthday they have on file is March 7th while mine is March 27th. My question is if it's illegal or fraud to use the incorrect birthday to be able to e-file and quickly get my taxes. [link] [comments]  |
| Should I buy an apartment now or wait Posted: 26 Jan 2021 06:54 PM PST Hi all, I live in a major US city that was hit hard by the pandemic. I'm wondering if now is the time to try to find a place to buy what with low interest rates and the city's own inevitable comeback. I'm just worried about pulling the trigger too soon. Here are some stats, and, keep in mind, these are mine and my wife's put together: INCOME: 260,000 SAVINGS: 210,000 RENT: 3200 OTHER (bills, food, etc): 1400 So we're looking at places in the 600k-900k range. Wondering if that's feasible or even a good idea in general. Don't want to make a decision we'll regret but also worried now might be the best time to buy. [link] [comments]  |
| Posted: 26 Jan 2021 04:53 PM PST I saw a bunch of people suggesting YNAB but it's $12/month?!? That's more than I pay for netflix. Wondering why it's so much, if it's really worth it, and why so many people suggest it? [link] [comments]  |
| Sprint will not cancel account Posted: 26 Jan 2021 10:37 AM PST I'm sorry is this doesn't apply or is not the right place, I am just exasperated. In August my wife and I called Sprint to cancel our account. We have the chat logs where we clearly indicate our desire and intent to cancel. We were told we can only cancel by calling their number, which we abide by and proceed to do. During this phone call, there was a verbal dispute with the representative as she was adamant they could not prorate the cancellation, and even though I was cancelling in August we would be charged for the entire billing cycle, with our final bill coming Sept 21st. We received our final bill, and waited until Oct to pay it off. After we paid it off, unbeknownst to us, they reactivated one of the lines and continued to charge us, this was done without any authorization or consent, after we explicitly stated our desire to cancel and even after an argument about why the cancellation date couldn't be sooner than September. Since the account was considered closed, we did not know about the charges or the reactivation until we received a letter from Sprint saying that our account was passed due and headed to collections. Since we received this letter, we have called 5 additional times, each time we call we "cancel", or at least are given the run around and taken through the entire cancellation process. We are told that the cancellation is guaranteed, and that we need to discuss with collections to take care of the outstanding debt (they can't do anything since they sent it off). Well today, I just received another letter, notifying us on more charges, and the dates of service show Dec 22- Jan 22. How can we call 5/6 times to cancel service, and then they refuse to cancel and continue to charge us month after month? What options of recourse do we have to put this issue to bed and remove this from our credit report? Sprint has been zero help during this entire process, and it feels like we are being fraudulently charged for accounts that we did not authorize? [link] [comments]  |
| How to politely decline a family-friend selling life insurance? Posted: 26 Jan 2021 10:35 AM PST I reached out to a long-time family friend for financial guidance, knowing that their business is really on selling life insurance. Their plans has certainly benefitted my parents but my parents says they no longer have the plan since we are all older and independent, so they are trustworthy. We did the typical song-and-dance and got some good financial advice during first few meetings, and we just finished their proposals of whole / term / index life insurance. We said its interesting and would think about it. The proposal is to rollover a partial amount of my older employers 401ks (blend of pre-tax and Roth) to one of those plans (they recommended term). I am intrigued about the flexibility of pulling some money from it, now that we are soon to be homeowners and would great to pull with minimal penalties and taxes in case of emergencies . However, I think the Trad & Roth IRA would certainly have a better RoR and would like to move forward with that. So the two things I'd like to get feedback on:
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| Posted: 26 Jan 2021 05:10 AM PST Hello PF! For a short description of my situation I am working for an IT staffing company in the North Carolina area. Our contract was underbid and as a result our team is being reduced and I will be let go effective Jan 31. I have been applying for jobs and have had a recent company show interest. I am currently on the now 4th interview which will be in person. Along with setting a time for this meeting, providing a list of references, and filling out a background check form I am also being asked to provide a salary history. In all honesty I have never been asked to provide one of these before so I am unsure what to list. I am also afraid that this may destroy any negotiation room I have. Does PF have any advice on how to approach a salary history with a potential new employer? thanks in advance! [link] [comments]  |
| What to do with savings at 21. Posted: 26 Jan 2021 06:30 PM PST Hello everyone, I am a 21 year junior forestry student who makes around $100 a week doing part time research. I have $8000 in my bank account and will be soon receiving $6500 for a scholarship. I will be spending $500 a month on rent for the next two years on top of food and groceries when away from home. However my school is actually paying me $4000 a semester to attend. What tips can you all give me as to what to do with these savings. Would it be best to save this money? I plan to go to graduate school right after undergrad where I will most likely go to school tuition free with a modest salary. [link] [comments]  |
| I am making a backdoor Roth IRA contribution in January for 2020, how do I report it? Posted: 26 Jan 2021 03:17 PM PST I understand reporting a backdoor Roth IRA contribution is a two-step process. In step 1, I report my contributions to the Traditional IRA for 2020 on my 1040, and in step 2 I report my 1099-R. The problem is, since I made the backdoor TIRA contribution in 2020, I won't get a 2020 1099-R and instead would expect a 2021 1099-R, which obviously doesn't belong on 2020's taxes. Does this simply mean I'll report that 1099-R next year, completing the "part 2" in my 2021 tax year? [link] [comments]  |
| I Want To Start Investing/Buying Stocks. Help or Advice? Posted: 26 Jan 2021 04:56 PM PST hello I'm a girl 20 and I've been looking at stock markets, doing research on them and how they all work, the best time to buy etc. and I really am interested in them and want to start investing also to make money too which I KNOW will be a long process because the stock market mainly consists of "waiting". Really I'm looking for a way to start making money on the side of my main job right now, I already have a selling business and am thinking of getting a second job soon too while my current job is good (to me) I'm not too too in a rush but $10/hour plus tips can only get me so far you know and at 20 years old I feel like so much pressure like I should have 15k in my account rn and have my own house etc. [link] [comments]  |
| Posted: 26 Jan 2021 06:00 PM PST I live in PA idk if that matters, but I've been a stay at home mom for the past 6 years so, I haven't worked and husband did all the tax stuff. Now we're getting a divorce and I've got my W2s here and I'm not sure what to file as. I was reading that it's possible to file jointly and sometimes more beneficial but I honestly do not know if my ex would even agree to that. Is there really that big of a difference? [link] [comments]  |
| Posted: 26 Jan 2021 05:47 PM PST Part of me wants to say to abandon the car and payments and get a new car. Not like brand new but a newer car and just take the hit on our credit. Is there another option? We need a car to get to work. We've got about 2400 in the bank and don't have too many bills besides her insurance and car payment. [link] [comments]  |
| One Man Business, how can I lower tax burden (401k, ira, etc) Posted: 26 Jan 2021 01:46 PM PST I am a one man business who provides a service for other small businesses. I have a few very good customers in my area. I currently just pay myself when the company has money, and I pay taxes. I have business expenses and obviously write those off each year. I have other personal writeoffs each year for mortgage interest, property taxes, lots of charitable donations, etc. I know if I made this same amount working for a bigger company as an employee, I'd probably be able to stuff aside some of my income into an IRA, 401k and other options that would help reduce my tax burden. Right now I just have some extra money saving up in my accounts and I pay full taxes. I'm not trying to hide or cheat out of anything, but I want to take advantage of the perfectly moral and legal options available to me. What are my best options? [link] [comments]  |
| A hint for people with families/cultures that expect too much sharing: hire a financial planner Posted: 25 Jan 2021 07:16 AM PST Pro-tip from an old fart who's seen a lot of threads on here where one family member is finally making a good salary -- and wants to help -- but others don't understand what's prudent: Go see a pro. Even if it's just once, even if it's a mall kiosk or online YouTube video series. Tell everyone you're doing it, that you're getting professional advice on how to make a long-range plan that will help the most over time. Then when someone you love wants you to buy them a $$$ flat screen and you know that money is better off in the RothIRA, don't tell them you know it -- tell them "The financial advisor said I need to be putting X plan into place if we all want to be secure in the long run, and this doesn't fit the plan". or even -- "Gee, I've got everything set up on autopay so I can't possibly mess it up, and there just isn't enough in that account." In cultures that value age/experience, where you've got older people pressuring (you) the younger ones, passing the buck to an outside authority figure -- or settled plan -- can sometimes cut through a lot of stressful family dynamics. [link] [comments]  |
| Cancelling my first credit card? Posted: 26 Jan 2021 06:30 PM PST I started off with a capitol one quicksilver card and it has a annual fee. I also have a 5% cashback category card with discover. I was wondering If I should ditch the quicksilver card now that my credit is much higher and get a better cashback card? Or would cancelling the card have a to big of a negative impact? I was looking into chase freedom flex or citi double cash card [link] [comments]  |
| Posted: 26 Jan 2021 06:23 PM PST 1098-mis/mortgage interest. 1099-sa/hsa. 1099-div/investment accounts. Aside from those tax docs, still waiting on 2 of them, all I have left is my w-2 and I want to just pay my taxes now. If my standard deduction more than covers any itemized deductions I can muster, can I simply just file with the w-2, ignore filing the other 3 and call it a day? [link] [comments]  |
| Where do you start with Care Credit, and what do you know before you actually get the account? Posted: 26 Jan 2021 01:46 PM PST Here's a bit of background: I am trying to pay for top surgery because my insurance explicitly denies trans coverage. The cost will be about $12,000. From what all I can find on the site, it is possible to get 60 months through Care Credit for purchases above $2500, but I don't see where that can be done or how. Really I don't see any advice other than "Apply today!" for where to start. So in order to do this, do I apply for Care Credit at the surgeon's office to get "promotions" (because I read about there being promotions that exist for Care Credit but not where to find them)? Will I know what I am approved for (aka will I know if I got approved for 60 months) before it actually opens? Calling Care Credit themselves only had the options of "Apply now" or "Put in your account number to proceed" so there was no option to talk to a representative without putting in an account number. I have pretty good credit (high 600s, was 770 before student loan accounts opened) and I'm very good with money, and I'm aware of the "catch" with Care Credit/deferred interest. But I can't for the life of me find where to start? Edit: I posted the reason for necessity just to give context, I don't need a lecture on whether or not I need the surgery, thank you! [link] [comments]  |
| Posted: 26 Jan 2021 06:19 PM PST 26 male, Atlanta Make 30888$ a year get paid every 2 weeks. 40 to 50 hours every other week. Credit score is 630 if that matters. My bills are less than $400 currently and 126$ of that is my car insurance. I'm waiting to hear back from my credit union I asked for $16k. On a mazda 2018 This'll be my first car from a dealership otherwise I've only used used clunkers. My current car (07 cx7) is getting to the point where I've put more into fixing it than what I paid. Anything I should look out for? I was thinking I'd ask for 6 year loan. I work for DriveTime where they have an employee purchase program, I haven't looked into it yet I'm just waiting to hear from my credit union first [link] [comments]  |
| Posted: 26 Jan 2021 04:42 PM PST My company has offered RSUs which are about to be available to me. I have never had RSUs before so I'm wondering if anyone can offer me any advice? What are taxes like on these? Should I cash out and reinvest? Sit on them for a while? Trying to logic around the advice "buy low, sell high" Any input is appreciated! Thank you [link] [comments]  |
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