uutxs said:Jobowoo said:I was wondering if I could self-fund my Roth 401(k) since I only started working in late August and my employer only allows me to deduct 50% of each paycheck. I will not be able to hit $16.5k by the end of the year if I rely ONLY on my employers 50% deduction.
I dont know where the 50% restriction comes from but I don't think you can fund the 401k other than through payroll deduction.

It's just the restriction my company puts on it...it sucks

eluck said:If i know i need to spend 15k for medical expenses (more than 10% of annual house hold income), is it worth to put the money in flexible spending account? I know i can use this 5k in the beginning of the year.. but other than that any tax advantages?

Also if i put 5k in FSA, how do i claim taxes? i have to put 10k as medical expenses? because 5k is already tax deducted?
FSA contributions are deducted from your W2 wages, lowering your AGI, and are deducted pre-FICA, saving you an extra 7.65%. If you are 100% sure you have $15k in FSA eligible medical expenses that will not be covered under insurance, it would make sense to contribute all $15k to the FSA. Does you plan limit your contributions? FSA rules do allow contribution limits for medical FSAs, but the only specific limit given is $5k for dependent care FSAs.

Above Line 1 of the IRS Schedule A: "Caution. Do not include expenses reimbursed or paid by others." So any expenses paid through your FSA could not be included in your Schedule A deductions.

krzywon said:eluck said:If i know i need to spend 15k for medical expenses (more than 10% of annual house hold income), is it worth to put the money in flexible spending account? I know i can use this 5k in the beginning of the year.. but other than that any tax advantages?

Also if i put 5k in FSA, how do i claim taxes? i have to put 10k as medical expenses? because 5k is already tax deducted?
FSA contributions are deducted from your W2 wages, lowering your AGI, and are deducted pre-FICA, saving you an extra 7.65%. If you are 100% sure you have $15k in FSA eligible medical expenses that will not be covered under insurance, it would make sense to contribute all $15k to the FSA. Does you plan limit your contributions? FSA rules do allow contribution limits for medical FSAs, but the only specific limit given is $5k for dependent care FSAs.

Above Line 1 of the IRS Schedule A: "Caution. Do not include expenses reimbursed or paid by others." So any expenses paid through your FSA could not be included in your Schedule A deductions.

That make sense. Thank you. I have a limit of 5k fsa contribution. so i really dont need to put in fsa, as i get the same benefit without fsa too..

I have a 2% Cash Back card from Orchard Bank. The rewards are nice and timely and I've had a good experience overall, but apparently people are getting the card without the $39 annual fee. This limits my max earning to $360 instead of $400 (and of course takes $40 off my earnings, effectively giving me 1.8% Cash Back at the maximum). How should I go about requesting this fee be waived since I've been with them for almost a year now and my "renewal" will be coming up soon? I'm in very good standing with them - no late payments and always pay balance to 0 every month.

Would BankAtlantic rewards biz credit card (on juniper.com) be pulled by the same bank as the BJ Juniper card (Barclays Bank pull)

Or would it be pulled by BankAtlantic / Different bank?

peteypablo said:Barclays

k i was hoping it would be another bank...

So since I recently applied for another Barclay CC (1 month ago), would I be able to apply for the BankAtlantic?

ThursdaysChild said:According to the NCUA insurance calculator, IRAs are not combined with ordinary share accounts when calculating insurance coverage. Can anyone tell me if HSAs are also insured separately?

No, I haven't called because it's 1 AM and their office is not open.
Is this HSA a/c established by you or your employer (for your benefit)? See if this link helps.

deals2save said:where can i find info on this one?

SSgA NASDAQ 100 Index Fund - Class C
I dont see any such index fund listed by State Street. Is this offered only to institutional clients (e.g., through your retirement plan). You need to check with them (or your broker) then.

New accounts will lower your credit score, but what about closing a new account?

Does closing a new account fix this?

uutxs said:connectthedot said:New accounts will lower your credit score, but what about closing a new account?

Does closing a new account fix this?
No it does not. The credit inquiry for the a/c opening remains on your credit report.

Yes i understand the new inquiry will stay and affect your score.

But what about the account itself? When you close it, it will report to bureas as a closed account VS a new account.

Does this "closed status" => neutralizes the new account?