Personal Finance Company wants to convert me from W2 to 1099 |
- Company wants to convert me from W2 to 1099
- [UPDATE] Someone charged my wife's card 132 times on Amazon over the course of 8 months and Chase won't do a thing about it.
- How do I back out of whole life insurance policy without losing my money?
- I feel like I spend too much on foods. Please let me know.
- Which 2 year degrees are well-paying careers?
- Panicking Over Retirement at 40
- Am I in a good place to move out?
- How can I help my dad get out of debt as someone who's still in high school?
- Breaking my lease due to noise, landlord asked for the cancellation fee of 13k
- What To Do? Late 50's early 60's couple catching up after cancer wiped us out
- Tax Loss Harvesting When Using a VTI and Chill Account
- Private Vs US Federal Employment?
- When to switch banks (checking account)?
- Should I put my tax savings into an etf?
- I'm looking for Mac accounting software that's offline, doesn't require a subscription, can reconcile, and import quickbooks files. Any ideas?
- Car buying on a budget for my fixed income mom - A question about "haggling"
- Fraud Alert and Freezes Not Working Against Identity Theft
- Mom wants me to go to college I have a different plan instead.
- Apple Finance and Credit Score
- Where to shop for an auto loan?
| Company wants to convert me from W2 to 1099 Posted: 15 Jan 2022 05:44 PM PST I've been working at the company for a little over a year. I moved to a different city and my manager asked me to work remote. It's been three months of remote working and my manager is getting flack and told me the company wants me to become 1099. I'll be losing overtime rate, 30days pto/paid holidays and lose all medical/dental/eye/life/long term disability insurance. I'm thinking about asking 1.5x my current hourly rate to offset all the lost benefits and lost overtime rate. If they do not agree to my 1099 rate and let me go, can I collect unemployment, in Texas? All my manager said is I'm remote and some people do not like the idea. He even said if I left they would be screwed because no one else is doing my job and he hasn't been able to find someone competent enough to do what I do. It'll take him over three months to train someone full time and it took me only one day of training. I will have to purchase over $3,000 of equipment and software if I go 1099 because I read you're suppose to use your own equipment and not the company's stuff. Will I run into any issues if I got switch to 1099? Is 1.5x my current hourly a good rate to ask for? [link] [comments] |
| Posted: 15 Jan 2022 10:30 PM PST Since the last thread a few months ago, I've been in contact with Chase a ton going back and forth, providing additional documents (each time takes a week of processing), and with holiday breaks, I can finally say the case has been resolved and closed. As of this week, we have been credited back all 132 charges and the total amount has been permanently refunded to our account. tl;dr: we got all of our money back after my wife's card was fraudulently charged on Amazon a bunch. the biggest breakthrough was an email recapping a call I had with Amazon stating the orders went to a different state. --------------------------------------------------------------------------- To quickly recap, in the original thread, my wife's credit card was used multiple times over the course of 8 months on Amazon by someone else's account claiming to be my wife (totaling about $4400). After the last thread blew up, we went through a ton of the suggestions including filing an Internet Crimes report with the FBI, following up with local police report, talking to the Chase executive office rep, etc. After the latest round of Chase rejections (including with the Executive office after filing a CFPB report), Chase stated the only proof they would accept is if Amazon would specifically state in an email that the orders were fraudulent. I've talked to Amazon multiple times up to this point and they're very selective on what they can disclose via Customer Service due to security reasons, so I felt like this was Chase asking for an impossible task to be accomplished. However, I still called Amazon up again and when pleading my case with the representative, I asked her to look up a few charge IDs (the unique code after each charge that tells Amazon info about the order, including what account it's on) to prove my card was used fraudulently. When I was able to convince her, I asked if they could provide the contextual opposite of what Chase was asking for and instead of outright claiming fraud, if she could write in an email these orders were NOT going to the same address as my billing address and that they were going to a different state altogether. She agreed to do this and I was able to capture a few of the orders in an email I subsequently sent to Chase. I think we also got a bit lucky with this particular rep, because with other calls with Amazon, I didn't get as much detail in their emails. This email led to a huge breakthrough in November, as I believe this email was proof enough to convince Chase that some fraud was occurring, they investigated and utilized their backchannel with Amazon and subsequently reversed some the charges that were listed specifically in the email. Over the course of the next few months, we had to provide a bit more documentation, but ultimately we were able to get everything reversed. I did follow up with the police department after filing a report, but they said they forwarded the case to the local precinct in the state where the person lived, and I never heard back. I never heard back from the FBI either. These were the most helpful things for this case I think we did in retrospect:
Thanks for the tips everyone that responded/DMd. I hope this helps others in similar situations! [link] [comments] |
| How do I back out of whole life insurance policy without losing my money? Posted: 15 Jan 2022 03:21 PM PST My (27M) mother (48F) was sold a whole life insurance policy about 4 years ago. She bought policies for myself, my sister, and my cousin, all of which cost about $50,000K a year in premiums. At the time, I wasn't fully aware of other investing options and couldn't really advise her on what to do so she went through with purchasing the policies. She runs a small business and thought this would serve as a retirement plan, or at least part of one. Fast forward 4 years, her business isn't doing great and she's not able to continue playing the $50,000K premiums for the policies. I help out where I can but the premiums are just too much. I checked the policy cash tables and it looks like if could back out of the policy but we would lose about half of the money we've paid over the last 4 years. Is there a way I can transfer the money I've paid to the life insurance company over to something like and personal IRA? The ROI on the whole life is terrible and we could do much better investing in vanguard index funds. Does anyone know if I have any options on moving this money out? [link] [comments] |
| I feel like I spend too much on foods. Please let me know. Posted: 15 Jan 2022 06:33 PM PST Hello readers. I don't know if this is the right subreddit for me to bring out this question, but if it's not, please direct me to the right one. Thanks. Situation: I'm single, live in Philadelphia PA, and my job is truck driver over the road. Usually it's 12 days on the road, 2 days home, and repeat. Last year, I spent about $6,866.15 on foods (on the road, home, outing, events, etc) which comes out to $572.18 monthly. I also don't cook while on the road because it's just too much hassle (unable to wash cooking utensils) so I just bought frozen foods. Is $572.18 monthly a good amount to spend just on food for someone in my situation, or maybe I could spend less on foods? I'm trying to save more this year & outside of bills, I feel like food expenses are something that I can control. Thank you. [link] [comments] |
| Which 2 year degrees are well-paying careers? Posted: 15 Jan 2022 10:59 PM PST I'm 26 and I live in Utah. I'm tired of being in and out of school, and I intend to go back to school this year, but I want something to get done and get it over with. I'm tired of dragging my feet and not being able to make up my mind for what I want to do. I've looked into different things like respiratory therapist, radiation therapist, sonographer, etc. What are other options? What do you know about these different fields? What path is worth it? Additionally, I'm in the midst of training as a clinical research coordinator at a psychiatric clinic I work at. This position typically requires a bachelor's degree, but they see a lot of promise with me and they know I'm an excellent fit for this position. I also adore my job, I've never been so happy at a workplace in my life, ever. The environment is incredible and part of me feels sad about someday going to a different place. So on the other hand, would it be a good idea to discuss with them what my future could look like with the company? I just want to make sure I'm well-off, because my livelihood still matters. I feel like I'm at a fork in the road. [link] [comments] |
| Panicking Over Retirement at 40 Posted: 15 Jan 2022 08:06 PM PST Hi all, I'm panicking because I'm reading through these posts and was hoping someone could give me some advice. Based on what I'm about to tell you, should I hire a financial advisor? I realize that many Americans are in much worse shape than I am, but based on what I've read here, I think I'm in big trouble. Finance scares me, and I'm having a bit of a hard time digesting this all. I have 25k in my retirement. I have 30k in savings and no debt. I'm paying 1k a month on a studio and make 90k a year. A friend asked me to move in with them and I'd be paying a bit less around 750./mo I'm mentally struggling with my job and need some time off work. Problem is, I know I can't afford it. I feel like every direction I turn it's a closed door and there's nothing I can do to get out. What should I do? [link] [comments] |
| Am I in a good place to move out? Posted: 15 Jan 2022 05:38 PM PST I love my family with all of my heart, but I need my own space now. I'm 21, I'm a full time college student as well as a full time worker (I handle it in my own way, it's going fine right now). This will be my first time moving out, and living alone. The apartment(s) I'm looking at are $800-$900 a month and include water, heating and gas. I live in Michigan if this helps. Currently, I make about $2,500 a month. I spend a total of $555 on my car payment, insurance, and phone bill. Other than that, I have zero debt, and I have credit cards but I've made the effort of making sure their balance is at zero so I can move out without any debt. Besides the afro mentioned expenses, I don't have any other monthly expenses other than my subscriptions ($55) and gas which since I don't commute to school right now and my job will be close, only costs me about $80 a month. I currently have $4,500 in my savings. I know this is not "ideal" but I'm looking to move out asap, as I cannot spend another day here. Am I in set shape to pull the trigger? What could change/improve? Thank you. [link] [comments] |
| How can I help my dad get out of debt as someone who's still in high school? Posted: 16 Jan 2022 12:09 AM PST My dad is the only one who's working in our family right now and he has quite a lot of debts. As someone who's still in high school, I would love to help my dad even just a little bit to pay of his debts even though I'm still a student. What's more is that he has a son, which is my half little brother in a different city making my dad send them money therefore limiting our expenses. I'd need some help on what to do, or should I stop feeling sad and guilty about it? I'm a freelancer right now too, specialising in graphic design but haven't had any orders for months. My dad is quite the cheerful person, he doesn't cry at all, but I know that he's always stressed. He had a stable job back then, making quite the money, but when covid struck, we had more financial issues. To be more specific, I'd like to know what jobs I can do online, other than being a freelancer and hopefully give some of the money I'll earn to my dad. Edit: My dad wants to shoulder all the responsibilities, and even after I said that I'd help him, his tone changed and he was about to get angry if I continued. He just wants me to focus on studying, but what would that do because I still need to study for years? Any help or advice is very much appreciated. [link] [comments] |
| Breaking my lease due to noise, landlord asked for the cancellation fee of 13k Posted: 14 Jan 2022 07:09 PM PST I'm breaking my lease because of an ongoing noise coming from the water pipes in my apartment. The noise occurs randomly at least 20 times throughout the day and night, and is measured way above the legal noise limit according to my city's police code. I've reached out to building management/maintainance so many times over the past 6 months (with audio and video recordings), but they only responded twice and didn't do anything to fix it. I gave my notice to move out by the end of month, saying they did not meet their obligation to investigate/fix the issue and the unit is not habitable which breaches the lease. The landlord is asking me to pay a fee of two months' rent to break the lease + other promotion fees back (total is around $13k). But I don't feel like I should have to pay it if they can't provide an inhabitable living space, right? I sent them a letter explaining all the legal codes and they straight up denied the existence of the noise and said I still have to pay the fees. It's a big corporation apartment company. Will they send my fees to collection? What could I do when that happens? Edit 1: I'm in California. [link] [comments] |
| What To Do? Late 50's early 60's couple catching up after cancer wiped us out Posted: 15 Jan 2022 01:09 PM PST Long time lurker First time poster. Per the title we are currently playing catch up from a colon cancer financial disaster. Although we had health insurance, we plowed through savings/retirement and racked up debt. It got ugly and scary and dark there for a while. The good news is I'm currently cancer free. The bad news it financially cost us everything. While I feel extremely fortunate we held on to our house and I am able to work again, I feel as though I am racing against the clock and in a constant state of anxiety as the years tick by. I welcome any and all advice as I think I'm not able to be objective. TIA. Here we go: The last 5 years we (me F56) (husband M61) were able to aggressively pay off revolving debt and start putting money into savings. I plan, providing I remain healthy, to work until at least 67-70. Husband same. He is in good heath. Some of my questions are: **Do I aggressively put into IRA or pay off mortgage asap. I feel like I should be paying into the mortgage but also like seeing the savings account grow and having that money there. **Hold on to stocks? I'm irrationally attached to them. I've held on so long. They survived the cancer financial devastation. Dividends are rolled back in. I can break down what is in each stock if needed. I tend to put everything into savings and feel like we don't have money for things that pop up creating my constant anxiety. Here is where we are at currently: Savings Account: 24,000 (what is left from a refi to do much needed essential work on our house. Think roof, foundation) Other savings 3,000 for unexpected expenses. College savings Account: 12,000 (one kid junior in college. she lives at home goes to state school. Another 2 years away) we receive some financial aide so this account has helped for other expenses. Roth IRA within the past 2 years put away 25,000. (Had to empty previously because of out of pocket cancer treatment.) Drip Stocks: 25,000 Opened these almost 20 years ago with minimum deposit. Contributed on and off over the years. 3m, pepsi, clorox, JNJ, alflac Did not touch these during cancer treatment. Irrationally attached to these stocks. We own our house. 300,000 mortgage 12 years left. Appraised at 1.4 million. It's a multi unit property. Father in law lives in one unit. Other unit is rental. We haven't rented for 1 year due major repairs and covid. Plan on renting in next 5 months when repairs are finished. Expected rent 1700. Income Me: i work in medical office for last 5 years. Net 2,700/mo Employer pays into retirement pension currently vested. Husband: Income varies but currently at net 5,000 -6000/mo Any extra over the years has gone straight into retirement account Expenses: These are major ones (no car payment, no debt) Mortgage - 3600 (FIL pays 700 this will not change) we currently pay the 2,900 until we rent other unit. I also try to throw 100- 500 extra to pay off mortgage faster. Plan is once unit is rented to continue at a higher rate. Utilities/cell/internet- 700 i can break down further if needed. Groceries/household: 800 -1200 life/disabilty insurance 340 subscriptions other 100 I know this isn't everything but rest is car registration/clothing/bdays/acct car rpairs etc things that come up during that month due. 500-1000. Sometimes will take out of savings sink fund. We have not gone on vacations in years or spent frivolously. Sometimes feel like we are just living to save money. After dealing with cancer it feels defeating but i know we are fortunate. >>>>>>>>>>. IRA currently putting in 900 per month between 2 roths Blue chip fund and Growth and Large cap Other savings (college, household): 700-900 If you made it this far THANK YOU for any advice. I can clarify anything if you need it. [link] [comments] |
| Tax Loss Harvesting When Using a VTI and Chill Account Posted: 15 Jan 2022 10:39 PM PST I am closing my Betterment account after experiencing some problems. I am thinking of liquidating everything and dumping everything on VTI. The only thing that I am concerned about is the lack of automatic tax loss harvesting in either Robinhood or Fidelity. Would I be able to at least manually do this myself if I have a VTI only portfolio? Thanks! [link] [comments] |
| Private Vs US Federal Employment? Posted: 15 Jan 2022 02:45 PM PST I urgently need advice. Looking for feedback from experienced members of this group. Currently I'm in early 40's employed as senior engineering team leader for S&P 500 company. During pandemic & work from home period I applied for some outside positions. One good offer that I recently received is for a US federal government engineering position employment. The insurance & retirement benefits offered are fairly better than my current employer (being federal government). But I need to take a slight pay cut (around $450 per month) - still pay offered is pretty ok - in range of $120K for midwest region. Downside is obviously cut in pay about $450/month along with reduction in vacation days (as I currently get 20+ vacation days with my current employer being 15 years of service - where Govt job gives vacation days more after 3 years of service - I will be getting around 10-12 days vacation with Govt job which may cause some issues for India visit). Also Govt position may not be fully remote working - as I have to be present in office for at least 4 days a week with job location at least 45 mins drive from my house. However - looking for upside - I see Govt job may be fairly stable with predictive increments per year. Job stability thru recessions etc. (as I see for my current private employer - rounds of layoffs are expected with hints of recession - also as you age going closer to 50 you need to parabolically increase your performance to justify your increasing salary). So overall job stress may be much more manageable with federal Govt job (apart from better insurance & retirement benefits). Also there is relatively small danger of merger/acquisitions & restructuring causing issues to your job position in federal job. But it is really hard to make a decision. Any input from the group to keep my current private employer job OR accept federal govt job will be greatly appreciated. Thank you! [link] [comments] |
| When to switch banks (checking account)? Posted: 15 Jan 2022 07:29 PM PST I have been a BOA member for a long time. Anyone ever consider leaving and moving to another bank for a checking account. Pondering to switch to any of the other big ones. For those who left BOA, why did you? [link] [comments] |
| Should I put my tax savings into an etf? Posted: 15 Jan 2022 11:16 PM PST I just started a job where I file a 1040 and am required to save something like 15-20% of my earnings for taxes. I want that money to grow during the year so I had the idea to put it into an etf , something like VTI rather than it sit in my savings acount. VTI seems go up about 9% every year but I understand there is risk with the year finishing at a point lower than where I started. So the question is, if I diversity my portfolio and still end the year with a loss do still have to pay taxes on those losses? I'm not sure how all that works. Can anyone explain that to me? Also in general is putting these kinds of savings into a steadily increasing portfolio a good or bad idea? It's also my understanding that if I make a profit and pull the money within a year that I'll be taxed within my tax bracket and not at the capitol gain tax, correct?: https://www.nerdwallet.com/article/taxes/capital-gains-tax-rates I'm just not sure if this is the smart thing to do or if there's something I'm missing that could land me in a world of hurt later on. Thanks for your help! [link] [comments] |
| Posted: 15 Jan 2022 05:42 PM PST |
| Car buying on a budget for my fixed income mom - A question about "haggling" Posted: 15 Jan 2022 11:19 PM PST If y'all don't think I should make a stand alone post for this let me know and I'll move it to the advice thread. I did a search of the subreddit and it seems to be consensus that haggling for the price of a used car is a thing of the past? My mom is on a fixed income, but she just sold her house, purchased a much cheaper condo outright (no mortgage) and currently has about 100k, most of which we are going to bank into a growth vehicle. But she currently has a stupidly expensive car lease that is up in February. Her credit is shot because of my brother (drug addict & identity thief - we're still working on cleaning that up) so we're just going to buy her something outright and be done with it. Anyways, I found a dealership near me that has like 82 different 2019 Ford Fiestas for sale for $13k. They got them from a rental company so the Carfax reports are good. They're also priced anywhere from 2-5k less than KBB suggests they are worth given the mileage. My mom only needs a car for getting around town, groceries, visiting me, etc, and I live in a small midwestern town, so all I want for her* is:
This car ticks those boxes. So my question is should I try to haggle down the price? Its already a good price and I know it. My wife insists I try to haggle but I dunno about that, given what I found when I searched the sub. That being said they have 82 of these cars so maybe they'd be willing to deal? But, like I said, we're paying cash so they're making less off us without the financing. What do y'all think? We have an appointment for Monday to see them. (*she doesn't give a rats ass what she gets, FWIW. Just something that goes.) Edit to add: From the carfax I can see they purchased these in late September, so they've been on the lot ~3 months [link] [comments] |
| Fraud Alert and Freezes Not Working Against Identity Theft Posted: 15 Jan 2022 06:39 PM PST In early December a line of credit was fraudulently opened in my name. It's on my credit report. A couple weeks later I placed freezes and fraud alerts at the 3 major credit bureaus. I've also followed most of the advice you guys list here: https://www.reddit.com/r/personalfinance/wiki/identity_theft/ Placing freezes on various other systems in addition to filing a report with the FTC, which apparently just generates automated advice. Anyway, today I received an email regarding a credit application that was placed today at avant.com. So somehow someone was still able to request credit in my name despite having freezes and fraud alerts in place for weeks now. How is this possible? How much of my information is compromised for someone to be able to do this? It seems like they have everything. Is there anything I can do, or do I have to just roll with it at this point? [link] [comments] |
| Mom wants me to go to college I have a different plan instead. Posted: 16 Jan 2022 01:27 AM PST Over the years I've been interested in alternate methods to be as successful as possible without going to college and accumulating a large amount of debt. Dropped out a couple years ago just started saving I have about 8k in student loans just from one year that I attended college. I'm 21 now, me and my gf both make20a hour full time. My mom and I have differences as her thinking I'm ruining my future by not going back to college I currently live with her, I feel like instead of taking on more debt that I know would take years paying off I've been trying to explain to her I'd rather honestly put 15k in yearly contributions between 3 accounts from me Nd my gf savings every year to a Roth IRA with a starting balance of 10k sometime around September and just keep adding the additional extra funds into a savings account and let it add up year by year. We both live with our parents and plan to buy a house around 5-8 years from now and in a year or 2 rent a cheap apartment. I have no other debts except a 4K car loan and a low credit line capital one card that I pay in full every month. I feel like the fact we both have parents that will let us stay in house and save as well as barely any debt puts me and her at an advantage that would offset the cost of going to college for 4 years between the both of us even if we got a goid paying job out of college we would have significantly more debt (especially the fact we don't even know what career paths we want). Can someone tell me if this would be a feasible idea I know there's other factors to consider trust me lol. 80k a year combined income 15k Roth IRA contributions every year. Let's say 20k on necessities every year rent built into that , that leaves us around 40k to have in cash savings every year and probably use 5k of that to play a little in crypto. Just want to know if the plan is feasible to have us set up nice to put a nice down payment on a house in 5-8 years and have us set up nicely for retirement around 45-50 years old. Obviously I don't plan on working for 20 a hour until I retire even though I wouldn't mind if this plan would realistically work. [link] [comments] |
| Apple Finance and Credit Score Posted: 15 Jan 2022 08:58 PM PST Would financing a MacBook help me build my credit? Does apple financing report to Equifax , trans union etc (so do I basically open a new line of credit) ? [link] [comments] |
| Where to shop for an auto loan? Posted: 15 Jan 2022 05:52 PM PST Hello, I have a new car that should be delivered within the next 4-6 weeks. I will be purchasing a 2022 Camaro SS 1LE from Chevrolet. I would like to have a financing offer in hand to compare to what the dealer offers. Are auto loan rates advertised anywhere? I remember when I bought my first car 20 years ago loan rates were advertised in the newspaper. Where/how should I shop for an offer? Thanks, credit score is around 780 and I'll be financing about $40,000. Back in September when I placed the order the dealer quoted me 3.5% which seemed totally reasonable but I'm not sure where they will be 5 months later when I pick up the car. [link] [comments] |
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