Personal Finance Thinking about stopping payment on an $1800 check to plumber. |
- Thinking about stopping payment on an $1800 check to plumber.
- If business expenses (from a 1099) are more than your side hustle income stream, does your pre-tax salary (from a W2) become part of the total income that expenses are deducted from?
- How to get my own bank account underaged?
- 401k Target date funds or index funds?
- How do closing costs work?
- Is it bad to use your credit card frequently if you always repay it on time?
- Negotiating Hospital Bill that has gone through insurance.
- New employer does not have a 401k plan. I make too much to contribute to a Roth IRA. What are my investment strategies?
- Yet another wage compression post.
- Dad claimed me as a dependent on taxes?
- Unknown Amazon Card?
- Front loading 401K at beginning of the year
- Help me decide rent or buy... in San Francisco. 30 y/o
- Mixed messages about credit payment?
- Help me decide: Rent vs Buy?
- New Employer, First 401k Ever, $40k Salary
- I feel like things are so close to picking up, but by the time they do i'll lose my stuff. What options do i have?
- How can I raise money quicker?
- Is there an art to selling RSUs or are we overthinking this?
- Auto loan "charged off as bad debt", "profit and loss write off" but car was never repossessed. Bought a new car, don't know what I should do.
- Invest or pay off mtg?
- Solo 401k employer contribution limit
- Housing dilemma!
| Thinking about stopping payment on an $1800 check to plumber. Posted: 31 Jul 2021 02:14 PM PDT Before I do I would like to run it by this sub. I had a plumber come out and assess a sewer gas smell I had been having. He came out and looked underneath my trailer and pointed out what he said was a broken waste pipe and a bad p-trap that wasn't allowing the toilet to drain properly. He stated someone else would have to come out and dig up my septic line, dig underneath the house and repair the cracked pipe along with the p-trap. I was instructed to empty out my storage shed so they could move it, to gain access to the underneath of the trailer. I'm in a hotel room waiting and I never received a call from them with any updates or anything. I called them and she said he was done. Seemed kinda quick but we went home. I could tell when I got home they didn't move my storage shed and didn't dig underneath the house. I looked underneath the trailer and it hadn't been touched and no new p-trap installed. I asked the plumber what he did as he didn't dig underneath the house. He looked kinda confused and said he might have to swing by and look at it. He never did. I then called and asked the office lady what the guy did to fix it. She kinda explained it to me and said he removed a toilet paper clog and put in clean outs for easy access and repaired a crack in a pipe that was outside the house. That's what my invoice said. Repaired crack and installed risers. I'm still confused as to how he fixed it when the broken pipe was under the house. I never got a clear answer from anyone. I called the office and requested someone come back out. I never got a call back and was told one of the plumbers is pissed and complaining about me calling. I then sent an email and never got a response or call. The smell is slowly coming back and I sent my check in on Friday. I want to tell the office I've stopped payment on my check and will not issue another one until it's fixed. I just don't know if that is too harsh. I'll even pay them more money to fix it properly but not until it's fixed. No one fully explained to me what was done and it's obvious they didn't fix it, and now they're ignoring me. Is stopping payment until it's fixed a good idea? Due to the fact that I have to have this done all over again and possibly pay another $1800 I filed a claim with my homeowners insurance but not sure if they'll pay for something that wasn't fixed properly. Any advice is appreciated. [link] [comments]  |
| Posted: 31 Jul 2021 06:34 AM PDT Title, pretty much. Just wondering for "passion" side hustles that involve pricey gear purchases. If 1099 income is $60K for the year, and salary from W2 is $120k per year, and expenses for 1099 are $75k per year….is that considered a "loss" or when does my existing salary for "total annual income" kick in? [link] [comments]  |
| How to get my own bank account underaged? Posted: 30 Jul 2021 11:41 PM PDT I am planning to sever ties to my family once I turn 18 (currently 15). I was wondering how I could make a bank account that my parents will not be able to access where I can save up money when I start working to pay for college, rent, and other affairs. If I have to I could get physical money but they could find or or it can be easily stolen/lost. And what is the best option to go when I do turn 18? Edit: Im in the US (Nevada specifically) [link] [comments]  |
| 401k Target date funds or index funds? Posted: 31 Jul 2021 01:18 PM PDT Hello guys, I am about to register for starting 401k soon through my employer. However, I came across some questions. This is my first time and I am not very good with things like finances or retirement plans, etc. And I don't know much at all regarding investments. Would it be more beneficial to choose the Target date fund option for or to choose individual stock options for 401k? I really lack experience in terms of investments. Could you give me some tips, please? Thank you!! [link] [comments]  |
| Posted: 31 Jul 2021 07:17 AM PDT So I'm getting a 5/5 loan from a banks for $65500 with 20% down and I was just given a couple papers with estimates of monthly payments and closing cost and was wanting to know why closing costs were $4900? Isn't that a really high percentage? [link] [comments]  |
| Is it bad to use your credit card frequently if you always repay it on time? Posted: 31 Jul 2021 11:28 AM PDT Hey all, I'm still rather new to credit card usage. I opened up my first credit card (Chase Freedom) about a year ago and have been really good with my repayments –– they're always on time and in full. Lately, I've taken to using my credit card to pay for everything rather than my debit card. However, I recently learned that using a single credit card too much can actually hurt your credit score. Is that true, even if I always repay my balance in full/on time? [link] [comments]  |
| Negotiating Hospital Bill that has gone through insurance. Posted: 31 Jul 2021 04:02 PM PDT Hi Reddit, Earlier this year I was unemployed and signed up for a really cheap health insurance plan from HealthCare dot gov. I was then offered a job and moved states. Two nights before my job started I had to go to the emergency room in an out-of-network hospital. I provided them with my health insurance information while I was there. After receiving treatment I saw that my out of network deductible was $14,000. Yesterday I saw a pending claim pop up on my health insurance and It was for $8,000. Seeing as this is still under my deductible I will be responsible for all of this. I have a few questions: Do I have any options to negotiate in this situation even though I am going through my insurance? Do I talk to my insurance or the hospital? Should I wait for the actual bill from the hospital to show up before I start panicking? Is this something I could make an argument that my current insurance through my employer should cover because I was out of network for this job? Thanks [link] [comments]  |
| Posted: 31 Jul 2021 06:39 PM PDT At my old job, I was provided 401k plan and I maxed it out to reduce my taxable income, I also made below the income limit for the Roth IRA, so I was also able to max that out. At my new job, I make over the limit to contribute ($135k/yr) and my new employer doesn't provide a 401k plan, they took it away because no one used it. I also make over the income limit for a Roth IRA. I maxed out my Roth IRA before I accepted this job. Do I wait until next year when I do my taxes to take out some of the $6000 lump sum contribution I made back in January? Also, what are my options now for tax advantaged accounts and investments? Also I do not have a high deductible healthcare plan at my new job, which means I do not qualify for an HSA according to the IRS. Thanks. [link] [comments]  |
| Yet another wage compression post. Posted: 31 Jul 2021 03:09 PM PDT Hello all, First time posting here but I need some advice. I work in the SAAS industry and have been working with my employer for over 3 years now. I have been promoted to a "senior" position and have been given more tasks and am supporting more products than your average "support" agent. My recent dilemma, I was recently merged into a new team and this new team is very open about their salaries. So open that they even screen shared their paystubs to prove their point. I found out that I am working with people who are not even a full year in with the company making 7,000-10,000 more than I am. I've done a lot of reading on this topic and most threads/articles say to look for another job. I just had my yearly review in April and went from $21.76 an hour to $24.10. this is after 3 and a half years with this company being the sole support agent for a product that was being sunset. I went out of my way to learn SQL to take on additional tasks to keep contracts going since all of the data services members of my products had either quit or moved to another product. Each review I've had the VP of support has told me I make more than most support agents and they are working on evening the pay scale for support roles. Turns out that this has been complete smoke and someone who was hired 3 months ago is making $28.77 with less experience and qualification than myself. Obviously this upset me and I have a meeting with the VP of support next Friday. The VP and myself have a history, he constantly tells on how much the company values me and how I am a "superstar" but never putting up the salary I ask for to back up the praise. I had recently had a less than professional discussion with this vp last week to go over what expectations were for me transitioning to the new product that I am now supporting (3 products now, most agents support) In said meeting I asked this VP what the plan was with the sunset product as I had been told so many conflicting things. I was told there was no longer any support for said product. Phones would be turned off, clients were told to migrate to another platform. Only to be pulled aside and told that if I don't clear out all of the remaining issues that I would be the sole reason the entire department could not go home early on a Friday. This pissed me off and is what sparked the meeting with this VP. I asked him various questions on what I was supposed to do and asked to get a definitive answer on what I was supposed to do. I was told "I don't know" MORE THAN ONCE he then had the gall to ask me if he "answered all of my questions today" to which I replied " If I don't know is a valid answer than I guess you did." I am beyond frustrated with this company and have been trying so hard to branch out into data services but have been getting railroaded because they need someone to continue to support the product that was supposed to be shut down the first of this month. I was ghosted after an amazing interview with the data services leads who were visibly excited to hire me and asked me when I could start. Only to be "left on read" for 4 weeks after said interview and was told after prodding that they hired someone else. What do I say to this VP? I obviously can't go into this meeting and say "hey I know you're hiring new people on at 8,000 more a year than myself that's not fair I want the same pay" and be taken seriously. My manager told me I need to bring examples of "how I influence team members" to the table but I have worked by myself for the last year and a half so I have no valid examples.. any examples of me going above and beyond are so old now that they won't be taken into consideration (managers words not mine) I feel like nothing is going to change but I really don't want to leave jobs, my seniority, and benefits just to get the pay raise I deserve and have been fighting for. Help me /personalfinance I feel like I'm losing my mind and would love some unbiased opinions or suggestions. [link] [comments]  |
| Dad claimed me as a dependent on taxes? Posted: 31 Jul 2021 05:13 PM PDT Hi, is this the right sub? I have never used reddit before but I would like some help :) I am 19 years old, almost 20, living in Tennessee. My mom and dad have been divorced for years. Earlier this year, when the stimulus checks went out and everyone was filing their taxes, my boyfriend tried to claim me on his (he works) since he's my main caretaker, he buys almost everything for me, but it said I had already been claimed. My mom didn't since she doesn't work but I know my dad did, he admitted it over text to my mom. I haven't seen or heard from him in years, and my mom said that he wasn't supposed to claim me since I am over 18 and it stated on their divorce papers that he couldn't after I turned 18. My mom said that I could've gotten the stimulus checks from earlier this year but since my dad claimed me, he basically "stole" that money from me. I don't know what to do. I am unemployed and never had a job but I am trying to look for one. Everyone wants me to call the IRS and report my dad, but I don't like calling people and I'm not even sure if they can do anything. If there's any way I could get that money back, that would be amazing so me and my boyfriend can get our own place. Thank you for reading :) [link] [comments]  |
| Posted: 31 Jul 2021 06:27 PM PDT I'm not sure what happened, but I made an Amazon credit card back in July and the card ended in... lets say "1234." Recently, I have been noticing that the card that was being charged since August was flipped, so instead of "1234" it's "1432." I have been charging that card for the past few months and I never realized it until a few days ago when I was looking at my statements and didn't see any Amazon charges on there. I contacted Amazon and they said its the same card that was added since July, but I don't see the charges on my credit statement. I'm not sure if its a blessing in disguise or if I'm charging someone else's card, but I never received any notices and it's been going on for a while before I realized. [link] [comments]  |
| Front loading 401K at beginning of the year Posted: 31 Jul 2021 04:23 PM PDT Several people at my company put their entire year end bonuses (comes in January) and thus not contribute to their 401K for the entire year. So for me, I am pretty much only using my base salary to live on (it's more than enough), and my bonuses/stocks are just extra that I don't touch. Some pros/cons of doing this front loading that I came up with: pros: - I don't need to deduct any money from my base salary, which gives me even more to live on/spend - More money each paycheck I can put into the stock market (slightly compensates for not DCA my 401K) - Not have to worry about retirement money and matching for the rest of the year - Potentially getting in at a low point, since the market dips a bit during December/January cons: - Not DCA, so if the market shits itself, I lose a lot of money - Pay more tax on my bi-weekly paychecks since I'm not doing any deductions Thoughts? What would you all do? [link] [comments]  |
| Help me decide rent or buy... in San Francisco. 30 y/o Posted: 31 Jul 2021 10:36 AM PDT Hi there, I'd appreciate some input on what to do next. 30 years old, single in San Francisco, I wasn't born here, but I've lived here long enough to realize I really want to stay here long term. As expensive as it is, SF is home to me now, and I am currently renting (3.2k, 2br) and looking at buying. Not married, no kids. Salary: 200k, +75k in rsus and bonus. $10K a year and growing side business Retirement: 100k Brokerage accounts: 470k (60% of it tied up in one stock from a previous employers IPO equity). I need to diversify this (once I can get LTCG) No debt. I feel like my career has been good to me, I had no help from my parents and I was lucky finding great mentors and managers and happy with my career. If I was in any other COL place I would feel really ready to purchase. But here, when I am talking with realtors, the offers come in 10% over asking, all cash, and even then a purchase of 1.2M will probably still leave me feeling stretched paying a 5.5k mortgage when my aftertax per month is only around 9k. It also seems like appreciation isn't going to be continuing like it has... although everyone has been telling me that housing will always go up (hah) since they aren't building new houses in SF. That said the type of home I want is between 1.1-1.4 m which is higher than my comfort level TBH. The mortgage guys said I qualify for 2m loan, which seem ludicrous. I could downsize to a 1br rental after we go back to the office and no longer needing the home office, so I can save another 800 a month and put that into the market. I could also see myself investing in a vacation home if the market is set to grow over the years (and maybe rent this on airbnb or tenants). However, I am very interested in no longer renting and trading off mobility for stability and owning something in the city here for 10 years since I will for sure be here. It's hard to stomach though, and there is a reasonable argument to rent indefinitely, which I am open to if I come out financially ahead in the long run. What should I do? [link] [comments]  |
| Mixed messages about credit payment? Posted: 31 Jul 2021 05:32 PM PDT Okay so i just got a credit card and I'm wondering if i need to pay it off the day it's due, the 15th, or before then. Also, should i be using 10% or 50% of my card to build credit? Thank you:) [link] [comments]  |
| Posted: 31 Jul 2021 06:13 PM PDT I am a single child free woman in my late 30's - I have a great job and currently make about $88k before taxes. I have about $20,000 saved (outside of my 401k, not touching that) and had been looking to buy a condo or small town house. Unfortunately I've been priced out of the market where I live - not by what I can afford for a mortgage but that everywhere is going $20-$30k over asking, all cash, no inspection, etc. I'm currently in a 2 bed/1.5 bath apartment for $1240 a month. While its functional, its old, outdated, no amenities whatsoever, and the onsite management is a nightmare. I'm considering renting a luxury apartment (completely upgraded, pool, gym, etc) which I can get for anywhere between $1900-$2300. A few pros for me with renting: I don't want to be responsible for maintenance (inside or outside) and I'm not sure I want to get a 30 year mortgage at this point in life anyway. Cons are of course that I'm still renting, not buying, and its a pretty big jump in monthly rent. I'm also currently WFH full time and will continue to have a hybrid schedule in the future, and I'm homebody so my residence is where I spent the majority of my time. I want it to be somewhere I'm happy. [link] [comments]  |
| New Employer, First 401k Ever, $40k Salary Posted: 31 Jul 2021 05:26 PM PDT Hey all, I just finished the first month of working remote for my new employer and enjoy it for the most part. My base salary is $40k but there's an uncapped commission. First year OTE is $65k and second year OTE is $110k+. I can invest 12% right now and my employer will match 3% up to $1,200 first year and $3,000 in year 2 and beyond but it'll be right. I'm not sure what to do since I've never invested in a 401k. I will maxing out my Roth IRA for the second time this year and will have $12k+ by the end of 2021. I'm 32 years old, single, and debt free. My employer offers a Traditional and Roth 401k through Fidelity. [link] [comments]  |
| Posted: 31 Jul 2021 05:26 PM PDT I think it'd be best to lay things out bullet point style since theres a bit of info to consider. -I'm self employed. Just got a new job that pays about $300 a week for about ~12 hours of work, give or take. Also doing alright on Fiverr and Upwork making about ~$100-$200 a week combined I've thought about trying for personal loans. But even though i've been rebuilding my credit score, im still only at 590.(Was 320 this time last year) I cant find anyone to approve me with my score where its at. My question is, what options do i have? Is there anything available to me to help get those payments in time? At the very least, i need to pay the $150 on my computer. If i have to, i can bide time with the car but not for long. Any advice is appreciated. [link] [comments]  |
| How can I raise money quicker? Posted: 31 Jul 2021 05:05 PM PDT I was a little scared to write this but alright here we go. I'm 30 years old, I've never had more than a couple thousand saved in the bank. Some deaths occurred in the family, and entering my 30's really woke me up. I have a little over 3k saved, my goal is to have 12k by January. My Temp Job allows me to save 1k a month, but that will soon end. Job doesn't offer overtime. I do online surveys and flip things online. Do you guys have any ideas you can throw at me that I could try? Instead of relying on one stream of side money I could do multiple which will bring me closer to my goal. Thank you! [link] [comments]  |
| Is there an art to selling RSUs or are we overthinking this? Posted: 31 Jul 2021 11:52 AM PDT My SO started working for his company 5 years ago, and since the past 4 years he has had quarterly vests of RSUs. We haven't sold any of them, partly cause we didn't have enough financial literacy to do so, and partly cause the company stock was rising. We have now reached a point where the stock is stabilizing and we want to divest since majority of our net worth is in his company stock. My question is stocks vested in 2020 were 200% higher than the ones in 2017. If we wanted to minimize our capital gains tax this year should we sell the ones vested later? Is that a thing one can do? And if yes, does it make sense to do so? For context, we are married filing jointly and fall in the highest tax bracket. Also we received additional bonuses this year so our gross income is greater than we expect in subsequent years. [link] [comments]  |
| Posted: 31 Jul 2021 11:34 AM PDT To summarize a long, messy story... just over one year ago, my auto loan officially went into default and beyond and they closed my whole account off. On my credit report it shows up as "charged off bad debt" and "profit and loss write off" ...but they never actually repossessed the vehicle. This car is falling apart, the registration is expired, can't pass inspections to get registered because of expensive work it needs... not really safe to drive and if I get pulled over it'll be impounded because of how long the tags have been expired for. It's a mess. Anyway, I just bought a new car (financing was approved, higher rate but I get it, etc). I still plan on getting things cleared up with this debt from this financial institution, but right now I don't know what to do with the car that they never repo'd. I do not want to keep it. Should I just drop it off at one of the bank branches and go inside and hand them they keys or something? I have extremely, extremely bad anxiety and struggle with this kind of confrontation so I haven't called my former lender about this yet or anything. I'm sorry if this is a stupid question that might seem obvious to normal folks. [link] [comments]  |
| Posted: 31 Jul 2021 11:31 AM PDT Just get your opinions on a hypothetical situation. Mortgage outstanding $250k Variable rate at around 1.35% 30 year am but with an increased payment, reality is 20 years. You come upon inheritance of around $250k. Would it be advisable to invest it in an ETF/index fund and let it grow considering mtg interest rate is low or just pay off as much as the mtg as possible. Salaried income will still be coming in… which would free about $600biwekly if mtg payments are no longer there. [link] [comments]  |
| Solo 401k employer contribution limit Posted: 31 Jul 2021 03:46 PM PDT Hey guys, I'm 20+ years into doing my own taxes. But I've reached my limit. I'm in uncharted territory. I'm dealing with a cpa for the first time in my life. My wife is taking a 1099 gig and we are forming an s-Corp. we got plugged into a local CPA who seems very knowledgeable. In our last consult, he presented a variety of scenarios. But the most appealing one was basically we paid my wife 58k salary. The employer kicked 58k into her solo 401k. And the remainder of her salary would be used for expenses or distributed as profit to avoid payroll tax. I asked him if putting that much into her 401k was legit. And he said the IRS allowed 100% of compensation to be paid into the 401k. Up to the 58k limit. But everything I've read in this subReddit is that it's limited to 25%. And that's what the IRS says too. So please help me understand. https://www.irs.gov/retirement-plans/one-participant-401k-plans [link] [comments]  |
| Posted: 31 Jul 2021 05:12 PM PDT Housing in interior Alaska is virtually nonexistent. I have found a great 3bed2ba home, built in 98 with a brand new interior, in great condition for 255K. It's perfect for me. The kicker: it's a manufactured home, and I'll only own it for 3 years (military). Is this a terrible idea? I know manufactured homes tend to depreciate, but the local market is hot and guaranteed growth due to growing a growing military presence. I just really don't want to sell at a loss. This house doesn't look manufactured in the slightest - it's beautiful, and I'm very confident I could find a buyer quickly. I'd obviously take great care of it and make small improvements myself. Background: 26 yo single, making 72K a year after taxes. 25K outstanding debt, half student loans half car Any insight would be super super appreciated! Edit: I'd definitely prefer a 2bed1 or 2 bath, but there are hardly any for sale. I realize a 3/2 is more than I need, but this is right in my price range- all other 3/2s are well north. I'd prefer to rent but there aren't any rental houses or apartments <2k a month. I'm currently renting a room from a friend, but he has already sold his house and is moving in October. [link] [comments]  |
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