Fatwallet.com Finance Our Mission - Serve consumers with knowledge, value and guidance. http://www.fatwallet.comhttp://www.fatwallet.com/rss_tv.php?c=52FatWallet.comhttp://www.fatwallet.com <![CDATA[Anyone get their $20 Wells Fargo Propel Apple Pay credit?]]> http://www.fatwallet.com/forums/finance/1417824/ Rating: 0 Posted By: MisterEd
Views: 148 Replies: 2

Been 2 months & 2 statements and I still haven't got my $20 statement credit for using ApplePay on 2 different accounts. Anyone get their credit?

I keep messaging them and all I ever get is stupid cut and paste responses. I sent them a nastygram message complaining about the useless C&P replies and they sent me a C&P reply apologizing for the C&P reply!!!!


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http://www.fatwallet.com/forums/finance/1417824/ Thu, 25 Dec 2014 21:02:40 -0600
<![CDATA[HealthNet rate jump]]> http://www.fatwallet.com/forums/finance/1417795/ Rating: 0 Posted By: SinbadS
Views: 372 Replies: 7

My HealthNet rate jumped 12.39% based on my latest bill for Jan. I received today. Is this within the normal range? I know this is a very broad question and depends on many factors but still I read the average is a low single-digit increase. I plan to call them after Christmas.


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http://www.fatwallet.com/forums/finance/1417795/ Thu, 25 Dec 2014 14:57:06 -0600
<![CDATA[Why pending transaction amount is always different?]]> http://www.fatwallet.com/forums/finance/1417793/ Rating: -1 Posted By: SinbadS
Views: 386 Replies: 8

I was checking my US Bank Rewards Debit Visa card for the last few transactions and noticed the pending transaction amounts are always a few bucks more than the actual amounts. This would go away and the actual amounts are posted eventually. I wonder why they go through this routine?


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http://www.fatwallet.com/forums/finance/1417793/ Thu, 25 Dec 2014 14:36:09 -0600
<![CDATA[2015 Annual salary w occupation and area of residence]]> http://www.fatwallet.com/forums/finance/1417785/ Rating: -2 Posted By: CAguyIP
Views: 608 Replies: 10

Fellow FWF lets list out the salary info and where we live along with occupation just so that we all collectively know whats going on with the market.


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http://www.fatwallet.com/forums/finance/1417785/ Thu, 25 Dec 2014 13:11:40 -0600
<![CDATA[Cheap Money]]> http://www.fatwallet.com/forums/finance/1417712/ Rating: 0 Posted By: FalseKiva
Views: 578 Replies: 0

I've started getting a flood of cheap BT offers from Chase, Discover, BofA, etc. with fees as low as 2%. Has anyone found a good way to arbitrage this? I had previously used it to get brokerage account bonuses and invested in low risk dividend companies, but with the market at all time highs can't find a way to make 3% while paying 2% risk free. Hope others have looked into this. Cheap money nonetheless which is nice, maybe leading to looser credit for broader population. Thanks.


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http://www.fatwallet.com/forums/finance/1417712/ Thu, 25 Dec 2014 06:37:48 -0600
<![CDATA[Is this unjust?]]> http://www.fatwallet.com/forums/finance/1417605/ Rating: -3 Posted By: khanlee
Views: 1186 Replies: 27

A neighbors tree fell and crushed my fence. Since he ignored my repeated demands to have it repaired, I called in a contractor to do the job for $225. Armed with all kind of proofs such as pictures of the tree crushing my fence, conditions of the fence before after repair, work order, cashed check I took my neighbor to the small claim court thinking there is no way I could lose this case. But I was dead wrong. In the court, I was bombarded with questions aiming to prove the defendant was not negligent such as whether I discussed with the defendant about the possibility that the tree may fall, whether I had written an official letter notifying about the conditions of the tree.. And everybody (defendant lawyer, mediator, judge) flat out saying I will sure loose the case without any these proofs regardless the damages of my fence. I felt like I am in another planet. Finally, I had accepted a mercy amount of $100 (less $42 court fee, a net of $58). I always thought when somebody damages your property, he has moral and legal responsibility to pay for the repair and our court is there to enforce it. But this case clearly proves that you can damage someone property without any consequence as long as your victim cant prove he had warned you not to, in advance. Is my thinking wrong or there is something really wrong with our legal system?


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http://www.fatwallet.com/forums/finance/1417605/ Wed, 24 Dec 2014 21:34:36 -0600
<![CDATA[Financial Situation - Home Purchase - Need Suggestions & Input!]]> http://www.fatwallet.com/forums/finance/1417582/ Rating: 3 Posted By: fwfisawesome
Views: 1837 Replies: 43

Hello FWF first off - you guys are awesome! Long time lurker here. The collective knowledge and wisdom on this board is top notch! And that is why I'm posting this here!

Here is the situation I need help with:

FAMILY PROFILE:
Me - Early 40s
Wife - Late 30s
2 Kids - boys aged 6 years (1st grade) and 10 months
We live in PA
Currently Renting
We live life FWF style - smart shoppers - don't splurge - live comfortably and save monthly

FINANCIALS:
I make in the $120s annually
Wife is stay at home mom (will probably start working in a few years when little one is older, wife has a graduate degree)
I max out 401K - current balance $40K (new job)
Previous401K rolled over to Vanguard IRA - balance at $300K
Checking Account balance $15K
Pension from previous employer $60K
RSUs currently vested that I can sell $15K
RSUs vesting in 2015 and every year till 2018 $20K
I will continue getting about $20K of RSUs every year
I am almost guaranteed a bonus of $15K every year
I will be getting a 10% salary hike in 2015

Two Auto Loans $5K and $4K - both @ 1.49%

CREDIT:
Wife and I both have Excellent Credit (over 720 FICO) - scores pulled (from various sources) for both have run in the range of 780-810
Wife total credit limit across all cards $70K
My total credit limit across all cards $110K

No credit card debt except $3K 0% on one card (0% ends June 2015)

INCOME & EXPENSES:
Monthly take home is $7300 (after maxing out 401K + insurance coverage payment + taxes)
Monthly Expenses $3500
Rest is saved in a RCA
Both cars are in decent shape and I dont foresee any new purchase for next 3-4 years (we buy used and stay with family friendly economical sedans no luxury cars, no gas guzzlers)

SITUATION:

So where has rest of my money gone you ask - we had student loans and previous debts (good debt) which we worked very hard to pay off and are finally done! That is why we continued renting.

But family is growing and it is miserable to live in pea sized apartments. It is not fair for my wife or kids, I work 60 hours a week but they spend most of the time at home.

Current apartment lease ends Summer 2015. We are looking at homes in the range of $400-450K (north east is expensive).

With our current income and expenses we can afford the monthly payments. It is the down payment that I am seeking opinion about.

I may not be able to come up with20% for the down payment, so I am open to doing PMIs (I Know FWF frowns upon this, but I am ok doing this in the short term till the investment from my side hits 20% of the home price and then I can get an appraisal done to hopefully get rid of the PMI).

Lets say I need $45K (10%) down payment + $15K closing costs + $6K house taxes = $66K

Down-payment gathering:
1) Checking $10K
2) RSU Sale $15K
3) 401K Loan $20K
4) 1 year 0% BT from my CCs $10K
5) 1 year 0% BT from wifes CCs $11K

I realize 401K loan and PMIs are a big no-no, but I am doing this in the interim to get me through the down-payment.

The current rental apartment is not the best lots of issues, lousy neighbors, bad maintenance etc. It would suck to again move to another rental apartment or townhouse. I would rather start with a home. It is torture for the kids tobe restricted by space. Waiting another year or two feels like an eternity.

What does FWF think? Thank you in advance for your feedback - positive, constructive and otherwise!


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http://www.fatwallet.com/forums/finance/1417582/ Wed, 24 Dec 2014 16:49:21 -0600
<![CDATA[Pension help!!!]]> http://www.fatwallet.com/forums/finance/1417537/ Rating: 0 Posted By: Hashim
Views: 714 Replies: 2

Our company has offered the following options to its staff to make a selection voluntary contributions towards pension (besides mandatory contribution of 5% of salary). Need help from FW community of financial experts, which option(s) is best in long run (around 5 years). I am inclined to put additional 5% towards S&P 500.
- Real 3% (based on US CPI)
- EAFE Developed Markets - Gross Index - Standard
- 3 Month Euro LIBOR index with FOREX
- JP Morgan Emerging Market Bond Index Plus
- MSCI Emerging Market Index
- Barclays Capital (formerly Lehman Brothers) Government/Credit Index
- BofA Merrill Lynch USD LIBOR
- Russell 2000 Index
- Standard and Poor 500 - Total Return - Index
- Barclays Capital (formerly Lehman Brothers) US TIPS Index

Thanks


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http://www.fatwallet.com/forums/finance/1417537/ Wed, 24 Dec 2014 12:30:21 -0600
<![CDATA[Knee surgery gone bad, what do we do?]]> http://www.fatwallet.com/forums/finance/1417486/ Rating: 4 Posted By: cherry3m
Views: 3483 Replies: 72

My 17yo son went in for surgery on a torn meniscus around mid-November. The initial MRI showed inconclusive damage to his ACL, but the surgeon learned of further damage during the first operation. Two weeks later, a second operation was done to install a graft ACL.

After several weeks of physical therapy and return visits, the doctor noted that my son contracted a pseudomonas infection during the second operation. He initially prescribed an antibiotic, and scheduled a third operation to clean out the knee and remove all foreign materials (graft, screws, etc). My son was devastated, but went through with it, hopeful that he was done, but knowing a further ACL surgery was in his future.

Yesterday, the doctor calls back and says the treatment for the infection needs to be escalated. Now they are installing a picc line to administer daily IV antibiotic for up to six weeks, and we are scheduled for another surgery to clean out the knee again. This will be his fourth, with at least one more needed to fix the ACL.

Because of how this has evolved, we haven't insisted on second opinions. The doctor has 30 years experience, is a knee specialist, and comes highly recommended. He says this kind of infection is very rare in a knee procedure, but it needs to be handled aggressively. He acknowledged the infection was a result of OR error, a missed protocol in the OR, or contamination.

Because of the urgent need to treat the infection, and it being Christmas Eve, we don't think we have any options for second opinions at this time. But we are starting to get hit with more and more co-pays, prescriptions, driving to different hospitals/dr appointments, etc. Not to mention the physical and mental impact this is having on my son. Four operations, being put under, therapy, and being on crutches for over 6 weeks, etc.

At this point, we are planning to complete operation #4, and return him to good health. We would likely get a second opinion before any further procedures are scheduled.

I know in the grand scheme of things, it's not insurmountable, but where do we draw the line? How much should we be on the hook for these additional expenses? We are asking all providers to Bill us if they will, figuring it would be easier to have the hospital pay in the future, than to try and get money back. Should I demand the doctor/hospital pay everything past operation #2? Should I retain an attorney?

My spouse and I had to cancel a trip to New York, and our family was to travel to Texas next week, but that had to be cancelled as well. Luckily, I was able to get refunds on airfare/hotels, but I'll lose a few hundred, and we're stuck at home missing a big family gathering.

Looking for a reality check, as our heads may not be clear.


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http://www.fatwallet.com/forums/finance/1417486/ Wed, 24 Dec 2014 07:58:07 -0600
<![CDATA[Gold both down and up simultaneously in 2014]]> http://www.fatwallet.com/forums/finance/1417481/ Rating: -3 Posted By: shinobi1
Views: 785 Replies: 10

Found this an interesting article:

Gold down and up at the same time

Here is a pull quote:

"While dollar-denominated gold is down this year, bullion is up 12 percent priced in yen and 10 percent in euros."


General Economics Deals

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http://www.fatwallet.com/forums/finance/1417481/ Wed, 24 Dec 2014 07:21:30 -0600
<![CDATA[OK, help me out...]]> http://www.fatwallet.com/forums/finance/1417384/ Rating: 0 Posted By: dippy943
Views: 1575 Replies: 18

Why are people buying these on eBay? It appears there's quite the market for $0 balance gift cards?

Linky


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http://www.fatwallet.com/forums/finance/1417384/ Tue, 23 Dec 2014 21:38:52 -0600
<![CDATA[[TX, KS, MO, NE, IA, WY, CO] Pinnacle Bank $100 Bonus, No DD Required]]> http://www.fatwallet.com/forums/finance/1417365/ Rating: 5 Posted By: doctorofcredit
Views: 757 Replies: 6

Different urls depending on where you're from:

Soft pull and you can fund at least $2,000 with a credit card (no maximum specified) Chase united post as a purchase. Thanks to my readers for providing that info.

Terms and conditions for our $100 offer valid for Free Checking Account applicants only. Account must be opened online. The minimum amount to open an account is $100. The maximum payment per customer is $100. This offer is for new checking account customers only. A new checking account customer eligible for the bonus is someone who has had no previous checking account relationship with Pinnacle Bank in the previous 48 calendar months. The money will be deposited after 90 days of account opening. Account must be maintained in good standing with no overdrafts for the first 90 days. Open to residents of Kansas, Missouri, Nebraska, Iowa, Wyoming and Colorado only. The $100 bonus will be reflected on a 1099-INT that will be issued and reported to the IRS at year-end. Offer expires December31, 2014.


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http://www.fatwallet.com/forums/finance/1417365/ Tue, 23 Dec 2014 19:06:48 -0600
<![CDATA[how to maximize savings in my situation?]]> http://www.fatwallet.com/forums/finance/1417351/ Rating: 0 Posted By: fleetwoodmac
Views: 801 Replies: 7

Married and have 1 child

Have a regular job 9-5 and a small business on the side

Wife not working so would it be better to show her employed in my small business?

I already maximized 401k from 9-5 job.

I am also contributing max for IRA for both of us

So what else?


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http://www.fatwallet.com/forums/finance/1417351/ Tue, 23 Dec 2014 16:48:27 -0600
<![CDATA[Looking To Do More With Our Money...]]> http://www.fatwallet.com/forums/finance/1417349/ Rating: 1 Posted By: justignoredem
Views: 1567 Replies: 25

Hello -

I'm looking to do more with our money. I'm at the point where I feel we have too much sitting still not doing enough.

What I have been doing lately:
1) Fill Up $11k Year Max in Roth IRA's
2) Put in Approx $17k split into our Employers 401ks combined
3) Put extra into our Home Principle
4) Earning CashBack on Credit Cards.

Assets. (No Interest Earned unless noted)
Home: ~$140k - Currently @ $100k left to pay
Bank of America - $12k (Tiny % Interest Earned)
Chase - $47k (No % Interest, but can get 0.01% if I upgrade the account for free)
Local Credit Union - $5k
Other Bank - $2k
UBS - $15k(Tiny % Interest Earned)

What I see ourselves doing in the distant/near future (Next 5 years) - Moving and buying a new car is something I see in the not so distant future. So sadly, some of the liquid assets we need to have on-hand for that. As far as moving is concerned, both myself and my wife aren't too happy with the current place of living (the city) and want to find a new place. First thing is first though - my wife needs to find a new job. My job should have no problem transferring though. Regardless, after that comes a new home. This is why I don't want to do TOO much with our assets. It may be needed at a moments notice if we make a decision.

At the same time, I think it's time to stop paying extra principle to the house and to just start earning more interest. If I want to pay off the house quicker earning interest seems more profitable than paying off my 2.75% ARM quicker. Does anyone have some good overall tips? Multiple tips are appreciated to evaluate, because there is obviously a lot of ways I can go I am assuming.


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http://www.fatwallet.com/forums/finance/1417349/ Tue, 23 Dec 2014 16:30:02 -0600
<![CDATA[New job salary versus old job counter offer]]> http://www.fatwallet.com/forums/finance/1417313/ Rating: 0 Posted By: ultrasjonesesque
Views: 1134 Replies: 14

I work in IT and work for a company that supports a large world wide financial institution. Long story short, the financial institution did not renew the contract for my current company and so I was given a seperation notice for Dec 31. Two days after getting over the shock of all of this I started interviewing. Found a much smaller company that flew me out to their HQ for a 2 day interview. On second day before my flight home they extended an offer. A little haggling and i accepted $100k full benefits, 401k, 3 weeks vaca, etc. bonuses are based on getting some certs. The financial institution that I was supporting stated they wanted to bring me on board however they have a hiring freeze. So they made an offer to bring me on board through a third party consulting company. Salary 140k. No benefits, no 401k and no vacation.

While all this is going on I interviewed with another company that offered salary 120k full benefits, 401k, 3 weeks vacation. Im not interested in the 3rd company because they are a big telecommunications and networking company that does yearly layoffs.

I accepted the offer from the smaller company at $100k the second day of my interview however I would like to bring up salary negotiations again. What is the best way to go about this? All 3 offers are work from home so no relocating is involved. I shook hands with one of the owners of the company when accepting the offer which is why I don't want to go about this the wrong way.


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http://www.fatwallet.com/forums/finance/1417313/ Tue, 23 Dec 2014 13:51:10 -0600
<![CDATA[Radian rating upgrade?]]> http://www.fatwallet.com/forums/finance/1417253/ Rating: 0 Posted By: BrunoB
Views: 555 Replies: 0

Mortgage insurer Radiansaid Tuesday that it has agreed to sell its bond insurance unit to Bermuda-based Assured Guaranty Corp. for $810 million. Is it safe to assume the bonds insured by Radian (Insurer Rating B+) to rise to Assured Guaranty rating of AA? Example: 54438EJY5


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http://www.fatwallet.com/forums/finance/1417253/ Tue, 23 Dec 2014 11:18:47 -0600
<![CDATA[Now Belarus is having its currency mega devaluated]]> http://www.fatwallet.com/forums/finance/1417222/ Rating: 0 Posted By: eddierd
Views: 999 Replies: 7

Any ideas how to get some good deals out of it? I know some online stores may not be operating is there any options there?


"We have to do something with these Belarussian rubles,"exclaims one Belarussian as she shops to turn worthless rubles (BYR) into physical assets.As AFP reports,The Belarussian currency was dragged down by the slide of the Russian ruble last week, leading authorities to impose draconian measures, forbid price increases even for imported goods, and warn people against panic. Now, however, in an effort to stem the flood of hyperinflating domestic prices,authorities have blocked online stores and news websites to stop the run on banks and shopsas people scramble to secure their savings. One of the blocked news websites noted, it"looks like the authorities want to turn light panic over the fall of the Belarussian ruble into a real one,"calling the blockages "December insanity."

Continue: http://www.zerohedge.com/news/2014-12-22/belarus-full-blown-hype...


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http://www.fatwallet.com/forums/finance/1417222/ Tue, 23 Dec 2014 07:45:32 -0600
<![CDATA[BankAmericard Cash Rewards $175 Bonus After $500 In Spend]]> http://www.fatwallet.com/forums/finance/1417215/ Rating: 12 Posted By: doctorofcredit
Views: 2824 Replies: 18

Bank of America is offering a sign up bonus of $175 after you spend $500 within three months on some of their co-branded BankAmericard Cash Rewards cards. As far as I am aware, you don't need to be members of any of these organizations to get the credit cards.



  • Help support your school while you earn rewards on purchases.1%Cash Back on purchases,2%at grocery stores and3%on gas for the first $1,500 in combined grocery store and gas purchases eachquarter
  • No annual fee=11px
  • Get a10% customer bonuswhen you redeem into a Bank of America=11pxchecking or savingsaccount
  • Get a $175 cash rewards bonus after making $500 in purchase(s) within the first 90days


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http://www.fatwallet.com/forums/finance/1417215/ Tue, 23 Dec 2014 06:43:50 -0600
<![CDATA[Some Shell gas stations charging credit prices when using GCs]]> http://www.fatwallet.com/forums/finance/1417094/ Rating: 3 Posted By: curtster
Views: 1754 Replies: 17

Heads-up to people buying Shell GCs to cash out Discover or other rewards, or buying ahead to max out rotating CC categories. Some of the Shell stations around me (Sacramento, CA area) that give a cash discount are charging the higher credit price when using Shell GCs. I called the number on the GC and they said it definitely should be the cash price and referred me to Corporate. Corporate said that it's up to the station.

The GCs may still be a deal, but a lot less attractive now that the usual 10 cent/gallon discount is approaching 5% - may even be there for some people.


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http://www.fatwallet.com/forums/finance/1417094/ Mon, 22 Dec 2014 20:43:19 -0600
<![CDATA[Jail term for bitcoin deals -money laudering]]> http://www.fatwallet.com/forums/finance/1417079/ Rating: -4 Posted By: nsdp
Views: 1322 Replies: 25

http://www.bbc.co.uk/news/technology-30575103 The fat lady has sung; converting cash/dollars to Bitcoins is very likely to be money laundering unless you bought them from the US Government last September. Charles Schrem who was a Bitcoin exchange operator has been sentenced to 24 months in federal prison and forfeiture of $950K.

"Prior to his arrest Shrem was a strong advocate for bitcoins and served as vice chairman of the foundation that helped to guide the virtual currency's development. He has now resigned from this post.
"Lawyers working for Shrem said his involvement stemmed from his interest in bitcoins rather than the Silk Road. The two year sentence is less than government lawyers sought who said he should face 57 months in jail. "

Up next is Robert Faiella, an another bit coin market maker has his sentencing the end of January. He has plead guilty to running an unlicensed currency transmitting business. Using an unlicensed currency exchange has its own criminal rewards. Several of his counts may also have negative implications for those who engaged in MS using gift cards. Remember the Golden Rule of the United States Sentencing Commission. Confess your sins before you become a Target you become free at last. No criminal sanctions.

Mr. Ulbricht goes to trial in February.


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http://www.fatwallet.com/forums/finance/1417079/ Mon, 22 Dec 2014 19:15:52 -0600
<![CDATA[Dispute tow fees - need your opinion]]> http://www.fatwallet.com/forums/finance/1417078/ Rating: -52 Posted By: vistaluck
Views: 1781 Replies: 35

So hi every1 my dad's got towed in SF...u know in SF, they will just give you however many tickets they like and there is almost zero chance to fight. So here is the deal...I paid with Chase ink but I want to report lost card and tell them some1 use my card to pay for that. Oh well...the car is your car right? I will say NO its not...how are you gonna prove it? I just dnt f**k prove nothing....I just dont think its fair to tow my dad's car cuz the sign was vague...oh well...when there was a time its fair in human history anyways so now all I want is to dispute it in any possible way....

there was an earlier post for that... but there is 1 catch....lets say the dispute go through fine and charge disputed...and then the tow company can put the fee in your DMV renewal with added fees on it ? Do you think that will happen? We all know that if you get a parking ticket and paid it with credit card and then you dispute it, they can add that to your renewal...cuz tickets belongs to government...but is that tow company belong to government as well?

The company towed my dads car is "AutoReturn" Another thing may happen is this....they think f==k u back mother f==ker, if they dont get the money they probably will just put a wheel locked on the wheel and charge you for that too until you pay them back the tow fees and the lock fees...what do you think? The tow fees was $590 ya I know...San Francisco is f==king every1....I haven't even told you that I got tickets in my own driveway for not leaving enough space for people to walk...WTF!!??? I tell you this San Francisco is the biggest f==ker in US it will just f==k all you guys up. dont f==king come to San Francisco...

the early post is here -http://www.fatwallet.com/forums/arcmessageview.php?catid=52&thre...


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http://www.fatwallet.com/forums/finance/1417078/ Mon, 22 Dec 2014 19:07:19 -0600
<![CDATA[Two 401k and tax liability?]]> http://www.fatwallet.com/forums/finance/1417058/ Rating: 0 Posted By: asher12
Views: 800 Replies: 3

Sorry if this is the wrong forum, I have two 401k accounts, both from different employers. I believe I will have exceeded the combined total allowed for deposits, will the yearly contributions show on my w2 or do I need to request it from the separate investment companies. Once I reached the 20k mark for 401k deposits I upped the amount going to deferred comp in the spring.


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http://www.fatwallet.com/forums/finance/1417058/ Mon, 22 Dec 2014 17:11:48 -0600
<![CDATA[Gifting a savings product]]> http://www.fatwallet.com/forums/finance/1417053/ Rating: 0 Posted By: prostoalex
Views: 890 Replies: 4

It used to be that you could buy a government bond to teach the youngsters the glory of savings, but these days with everything going electronic I don't think I can expect a toddler to set up a treasurydirect profile.

Is there a good financial gift that would encourage savings and is easy to set up?

Ideally something like a CD that would disburse some occasional interest to the recipient to show the value of "saved money" versus "free money".


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http://www.fatwallet.com/forums/finance/1417053/ Mon, 22 Dec 2014 16:20:37 -0600
<![CDATA[Pre-tax medical/health savings account options for non-employees (self-employed/unemployed/etc.)?]]> http://www.fatwallet.com/forums/finance/1417032/ Rating: 0 Posted By: Gauss44
Views: 633 Replies: 1

Let's discuss the pros and cons of HSAs and MSAs or similar options... and possibly the cheapest and/or best high deductible insurance plans available to self employed individuals.

Health Savings Account (HSA): By my understanding, this is only available to self employed individuals who also enroll in a high-deductible insurance policy. So the cost of the insurance policy is also a factor.
Medical Savings Account (MSA): I'm really not familiar with this sort of account. I read online that Medicare offers one and Archer offers another. There may or may not be other options, rules, etc.
(Flexible Spending Accounts/FSAs and Health Reimbursement Accounts/HRAs, I believe are only available to employees, not the self employed.)


So far, my best answer to the question in the title is to get an HSA from BofA and a high deductible insurance plan. I have yet to shop around for insurance. (In terms of deadlines, this information may be put to use next year.)


Tax Deals

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http://www.fatwallet.com/forums/finance/1417032/ Mon, 22 Dec 2014 15:24:11 -0600
<![CDATA[REQ: New forum(s): Career and Legal]]> http://www.fatwallet.com/forums/finance/1417029/ Rating: 29 Posted By: bluegreenturtle
Views: 1244 Replies: 12

I've been on Fatwallet for well over a decade now, and while I realize this has been requested and debated before, I'd like to add the request again, due to the changing (over the last few years) nature of the finance forum.

I think a CAREER/JOBS section makes a lot of sense - there are a LOT of posts about these subjects and sometimes the poster tries to thinly tie it to a finance topic, which, in my opinion, is a waste of everybody's time. There should be a career forum where people can simply post these questions without any worry; everything from "making a career switch" to salary questions could go here. In addition, there could be a VERY valuable "Seeking" subforum to it: allowing people to post opportunities that exist in their own organizations, as well as people who are seeking new opportunities to post. If contained within their own subforum, these could be very useful and not add any clutter to FW.

Additionally, there seems to be a lot of posts about LEGAL issues - given their own forum, this would tidy up the existing finance forum considerably, while probably improving the quality of the responses and raising the signal to noise ratio.

I realize (believe me, I really do) that everything's interconnected and that a job post has aspects of finance, and legal posts do too. But I think this could really clean up the Finance forum while getting better quality responses than "off topic" (which I think is not read much). I additionally realize that FW is driven by the Deals section as it posts CashBack (income) and has ad referrals and the entire Finance section is really just an aside for FW as a company. But making these changes would take the Forum admins a few minutes to do, realistically, and would help reduce some confusion and frustration with the current slate of topics that appear over and over. At the very least, take a look at my lifetime CashBack I've generated for the company; this alone should merit the request a few minutes of thought.

Thanks


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http://www.fatwallet.com/forums/finance/1417029/ Mon, 22 Dec 2014 15:12:35 -0600
<![CDATA[Discover CB questions]]> http://www.fatwallet.com/forums/finance/1416995/ Rating: 7 Posted By: amheck
Views: 1388 Replies: 18

Are most of you pretty happy with the CB program at Discover?

I just recently got the card and this is my first month really using it. The statement just posted and I'm sad to say, I'm a little disappointed with the CB amount. I was expecting a lot more.

I think I charged almost $1300 and all of that was from online shopping, so I was figuring 5% off the top, easily. Then a few big purchases were from bonus 5% and 10% retailers like Best Buy and Sports Authority. But I only ended up with $43 dollars in CB. Its frustrating that there's no itemized list like there is with CB on this site.

Anyone else ever feel shorted, or is this just how it goes? You get what they give you?


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http://www.fatwallet.com/forums/finance/1416995/ Mon, 22 Dec 2014 13:08:16 -0600
<![CDATA[Bank5 Connect High Interest Checking 0.76% APY ]]> http://www.fatwallet.com/forums/finance/1416941/ Rating: 0 Posted By: nbarab
Views: 806 Replies: 2

I have just opened that acct, I will keep you posted. The application is reviewed by real people.

http://www.bank5connect.com/home/high-interest-checking


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http://www.fatwallet.com/forums/finance/1416941/ Mon, 22 Dec 2014 10:32:19 -0600
<![CDATA[TurboTax Schedule D info]]> http://www.fatwallet.com/forums/finance/1416930/ Rating: 0 Posted By: esfeld
Views: 810 Replies: 4

Am I missing something? I have read all the posts that state that TT Deluxe does not contain Sched D ........ I just looked at my TT Deluxe 2014 and Schedule D is included!


Tax Deals

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http://www.fatwallet.com/forums/finance/1416930/ Mon, 22 Dec 2014 09:31:22 -0600
<![CDATA[Stolen check - Letter from Attorney - Advice needed]]> http://www.fatwallet.com/forums/finance/1416924/ Rating: 8 Posted By: kogerk
Views: 6057 Replies: 71

I am posting this for a friend who is out of country, but I am also very interested in the answers as I have a business where we take checks as well.

My friend has a convenience store and apparently, in March 2014, they accepted a check that did not clear and they reported it. Seems that the account holder was arrested for writing bad checks.

Last week he received following letter from an attorney claiming the damages of $305 (bond fees) under the reason that they did not check her identity:
Letter:http://s17.postimg.org/b3w8gldy7/fake_check.jpg

The store has a policy to check every id before they accept checks. But, since it has been so long (over six months), there is no surveillance evidence to verify who came in the store. Generally they write DL# on the checks but they do not have copy of the check right now and they are trying to get one from the bank. They also have CheckAlert system. However, due to lack of time and holidays, it might be very hard to obtain a copy of the check by 12/26/14 (date to respond).

It is indeed very surprising that they do not claim any other money including attorney fees, except for the bail bonding fee of $305.

Here are some questions that we are looking for some answers and advice:
- Is it suggested that he simply pays $305 and get done with it. Or once, he accepts wrongdoing, will they be suing for other damages and costs.
- Does the burden of proving the ID was not checked fall on him or the check writer. How does he prove that the ID was indeed checked.
- Can I or someone else contact the attorney for extension of time since he is out of country and will not return for another month.

Thanks in Advance.


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http://www.fatwallet.com/forums/finance/1416924/ Mon, 22 Dec 2014 07:47:01 -0600
<![CDATA[Should I withdraw from 401K to use as down payment?]]> http://www.fatwallet.com/forums/finance/1416869/ Rating: 0 Posted By: FWFGirl
Views: 1596 Replies: 26

I am debating whether to pull money out of my 401K for use as a down payment for a primary resident (want more space and add to my RE investment portfolio) and renting out my condo. I was planning to save up $100K for the down payment and closing cost (Qualified for $400K mortgage, but will stick to $320K). I am starting a new job in Jan 2015 and it got me thinking what to do with my 401K account. I am aware of the 10% penalty and the 25-30% tax for early withdrawal.

Before I get into the numbers, besides the condo, I also have a few rental properties so I am not a complete newbie in RE and PM. I would like to hold on to the rentals at this point since they are all cash flow positive. I self-manage all properties and I got approved for a mortgage for the new purchase. I already jumped through all the hoops at a few banks/credit unions and even went through underwriting for 1 just to make sure I can get a loan.

Background Info:
Salary = $90K
401K Balance = $170K
Down Payment Saved = $60K (Needs 2 more years of saving to get to $100K. This is my pain point and the reason for wanting to do this)
Emergency Fund = $25K
Rental Emergency Fund = $15K

My mind is most definitely not set on this so I am not here looking for the go-ahead. I want to hear what other folks think about the idea and help point out any other pitfalls that is not even on my radar. Thanks in advanced!


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http://www.fatwallet.com/forums/finance/1416869/ Mon, 22 Dec 2014 02:09:36 -0600
<![CDATA[I will live abroad for ~5 months, whether my cell phone and auto insurance can be paused for 5 months?]]> http://www.fatwallet.com/forums/finance/1416792/ Rating: 0 Posted By: ussrfw
Views: 1478 Replies: 24

My cell phone provider is AT&T. (The international travel plan is very expansive, I won't use my cell phone when I am abroad.)
My auto insurance provider is Geico.
If yes, how to do this?

My car is registered in Iowa, whether I can pause my auto registration for 5 months when I am abroad?

Thanks.



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http://www.fatwallet.com/forums/finance/1416792/ Sun, 21 Dec 2014 19:48:39 -0600
<![CDATA[Making a plan and a timeline to find scholarships for an MD program]]> http://www.fatwallet.com/forums/finance/1416773/ Rating: 0 Posted By: Gauss44
Views: 1152 Replies: 22

This is for a student of mine who I'm mentoring (on many things not just scholarships, thank goodness). We are looking for,

1. Places to look for scholarships that are NOT SCAMS. These days, it's easier said than done. I tried to search the internet and honestly I have no idea if over half of what I found, in terms of scholarships, is legit or not.
2. Legit services to use or hire, such as professional scholarship finders, if they exist. We are not concerned about cost as this is probably a very good investment.
3. Specific recommendations of scholarships that you think he might qualify for. Or leads, hints, notions about where he might find a good scholarship.
4, Timeline:Advice about when to start looking, or where we should be looking when (3 years before attendance, 2 years, etc.). I'd hate to sound clueless, but I also wondering how much time should be spent looking every day or every week, etc.? I personally have bad memories of searching for days on end and finding nothing for myself. I feel like I'm doomed to be a bad mentor on this particular topic. I will be referring my student to more competent people for this, but want to at least try to pull some of my weight on this topic.

About my student:
-27 years old
-MD program candidate (will be applying to probably 20 schools next year to matriculate in 2017).
-Disabled due to a neurological disorder that is improving. He does meet the requirements for MD programs, and might also qualify for scholarships, if there are any, for people on Social Security Disability.
-He currently makes $1700 a month, partially from Social Security and a part time job he is allowed to have through SS's Ticket To Work Program. (Does NOT qualify for the PASS program or for tuition waivers.)
-He had a very poor childhood where his parents ultimately could NOT afford to raise him, which might help him get a scholarship.
-White, 7th generation American (Not a racial or ethnic minority, not Jewish, not Hispanic, not American Indian, etc.)
-No relatives in the Armed Forces.
-Has done extensive LGBT and poverty related human rights activism.
-Massachusetts Resident, prefers to stay in Massachusetts (knows he might not have that option)
-3.7 GPA which is NOT impressive for an MD program. It may be below average. 33 MCAT, still not that great for an MD program. I think merit scholarships are out of the question.
-Does not qualify to join the armed forces due to his medical history.
-Prefers high-paying specialties, not primary care (I recommended this,http://www.nhsc.hrsa.gov/scholarships/,but he would only consider it if he could apply to a new residency after the required commitment.)

Best Bets IMO (IF there are any of the following, I think he will be a good candidate):
-Essay scholarships, primarily or exclusively based on the content of the essay
-Poverty scholarships
-Disability scholarships
-Hardship scholarships
(-I wish I could think of more.)

(Previous posts on similar topics here, and I think I've read them all,http://www.fatwallet.com/forums/search/results.php?query=scholar... I have also asked related questions on pre-med forums. I think posting on a variety of different forums will result in a nice diversified spread of opinions and insight. I also considered the possibility that a non-premed website might offer more help given that the competition aspect is minimal on here, fewer MD candidates.)

I will personally do more research on any good options presented on here.


Discussion Deals

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http://www.fatwallet.com/forums/finance/1416773/ Sun, 21 Dec 2014 17:57:37 -0600
<![CDATA[Can I use HSA account to pay dental expenses? ]]> http://www.fatwallet.com/forums/finance/1416738/ Rating: 3 Posted By: mdoply39
Views: 1823 Replies: 14

I am going to open an HSA account. I have a qualified High Deductible Heath Insurance plan. This plan does not cover any dental expenses, because IT DOES NOT OFFER DENTAL INSURANCE. Can I use my HSA account to pay dental expenses (cleaning and maintenance work, no cosmetic stuff)?


Insurance Deals

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http://www.fatwallet.com/forums/finance/1416738/ Sun, 21 Dec 2014 15:57:26 -0600
<![CDATA[Trying to save $$$ on telephone calls]]> http://www.fatwallet.com/forums/finance/1416597/ Rating: -1 Posted By: shinobi1
Views: 1577 Replies: 39

I'm trying to save money on long distance telephone calls, for which I currently must pay, and I need help. This has nothing to do with mobile telephones. I use only a land line and only a desktop computer.

With Google Voice having recently morphed into Hangouts, my route to $$$ savings appears to have become more tortured. I'm trying but I'm overwhelmed by all the (unwanted) setup choices and options which do not apply in any manner to my situation. I don't even understand many of the options and choices.

Regardless, when it comes to spending money for anything, and speaking in general, I've always been guided by the proposition that "free is cheap". Thus, the advertised Google offering of free calls inside the USA was enticing. However:

I want to use my desktop computer solely to ORIGINATEdomestic long distance calls. I will never use Hangouts (or Voice) to receive calls. I will never call outside the USA.

I run Chrome, have already installed the Hangouts extension, and I'm able to get into (for me confusing) Voice setup. Since the service is (supposedly) free, I don't want to pay any money up front. And I do not want to provide Google with my land line telephone number.

Can anyone familiar with this service tell me:

*Under the above scenario, never wanting to be able to receive incoming calls or make foreign calls, must I still apply for a Google telephone number?

*Is it even possible to do what I want to do the way I want to do it? Can I really save money with this approach, or am I foolishly chasing the proverbial wild goose?


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http://www.fatwallet.com/forums/finance/1416597/ Sun, 21 Dec 2014 10:07:38 -0600
<![CDATA[contract jobs terminated]]> http://www.fatwallet.com/forums/finance/1416587/ Rating: -26 Posted By: thedentons
Views: 1827 Replies: 28

job was terminated due to fact of weathering cold weather which terminates rural of painting as well as customer deliberately consider not paying up to what was written on contract needs beinglady became irate acting hostile threaten me of non-payment prior to completion of Jobfound another employer in the beginning of contract she hired another contractor in front of me to do the job after agreement and 1st payment was made then fired the man after realizing what she had done now having no to Thurs payment of job which was completed


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http://www.fatwallet.com/forums/finance/1416587/ Sun, 21 Dec 2014 08:19:46 -0600
<![CDATA[Form 1040 / 8606 Question]]> http://www.fatwallet.com/forums/finance/1416404/ Rating: 0 Posted By: agawam
Views: 1208 Replies: 11

Thinking ahead for my 2014 taxes ......

Here's my situation:
--In January 2014, I made a 6,500 nondeductible IRA contribution which I immediately converted to a Roth (no earnings were accrued).
--My total cost basis in traditional IRAs for 2013 and earlier is -0-
--In March 2014, I also opened and made a 10,000 after-tax contribution to a tax-deferred retirement account and later that year I initiated a direct rollover/conversion of the entire 10,100 account balance (10,000 after-tax contributions and 100 earnings) to a Roth.

1040 Question:
For the 6,500 nondeductible IRA conversion to Roth, I will include 6,500 on line 15a and -0- on line 15b.
--Should I also include the 10,100 on those lines? (10,000 on 15a and the 100 on 15b) or should those amounts go in lines 16a/16b? If I use 16a/16b, do I need to put the word 'Rollover' next to that line?

Form 8606 Question -- (I'm assuming the 2014 8606 form is the same as the 2013 8606 form):
I plan to include the 6,500 nondeductible IRA contribution on line 1 and also include it on line 8 (net amount converted)
--Where do I reflect the 10,100 that I converted? I wasn't sure if I should reflect the 10,000 on line 2 'total basis in traditional IRAs' and include the 10,100 along with the 6,500 on line 8 (net amount converted)).
If this is the correct approach, then I'll also need to fill in PART II ('conversions from traditional, sep or simple iras to roth iras') so that the taxable amount of 100 is reflected on line 18.
If this is not the correct approach, the only other thing i could think of to reflect my 10,100 roth conversion on form 8606 is to fill in line 24 (basis in conversions from traditional, sep, and simple iras and rollovers from qualified retirement plans to roth ira). However, this field is located in PART III ('distributions from roth iras') and in reality, I would not have made a roth distribution. Thoughts?




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http://www.fatwallet.com/forums/finance/1416404/ Sat, 20 Dec 2014 13:15:18 -0600
<![CDATA[Can anyone help me? I would like to create bulk PayPal invoices and there seems no easy way to do that.. Any suggestions]]> http://www.fatwallet.com/forums/finance/1416378/ Rating: 0 Posted By: brishty
Views: 1026 Replies: 2

=11.0ptCan anyone help me? I would like to create bulk PayPal invoices and there seems no easy way to do that.. Any suggestions?


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http://www.fatwallet.com/forums/finance/1416378/ Sat, 20 Dec 2014 08:12:16 -0600
<![CDATA[New job vs accepting counteroffer ]]> http://www.fatwallet.com/forums/finance/1416280/ Rating: 2 Posted By: BenJayphant
Views: 2535 Replies: 15

Title Salary Bonus PTO 401K
CurrentJob Software Developer $85,000 5% max - probably 2/3k 15 days + 1 floating holiday + short Friday hours during summer $0
New Job Software Developer $100,000 10% max - no idea on requirements for receiving bonus
or amounts that other devs have gotten
"Unlimited" $4,000

Best case gain for new job: $27,000
Worst Case: $19000

Before letting my current company know that I had an offer, I asked my manager to promote me to a senior position. He was open to the idea but couldn't talk about numbers until he had more info in the 2015 budget. After I let him know I was possibly leaving, he said he'd get back with a counter offer on Monday.

Current Job
Pros

easy
40hrs a week max
Senior title if I stay
Cons
not learning anything new

New Job
Pros

The new job has <100 employees and is expanding rapidly. I'm the first developer on this specific team and they mentioned that I might become a manager/team lead as the department expands.
Cons
My resume looks very jumpy I've had 4 jobs since I graduated in 2011. This will be my 5th.
Probably more hours
Tons of unknowns since the company is so small and no reviews are available online


Does anyone have any advice as to which offer to accept. A $27k increase would be an easy decision, but if my job offers a 10k raise and I ended up with a $0 bonus at the new company, the gain can be as small as $9,000 which wouldn't really be worth it IMO.


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http://www.fatwallet.com/forums/finance/1416280/ Sat, 20 Dec 2014 00:03:20 -0600
<![CDATA[Using Fatwallet Finance to save Tax Accountant fees]]> http://www.fatwallet.com/forums/finance/1416262/ Rating: -7 Posted By: martint
Views: 1317 Replies: 7

Social security question:

If a sole proprietorship employs (W2) another person, normally the employer is responsible for paying their share of FICA taxes and the employer must also withhold the employees share of FICA taxes.

If the employee has two W2 jobs, it's possible both employers will overwithhold the employees total social security contributions. For 2014 the limit is 6.2% of 117k. The employee is entitled to a refund in this case (it's on the 1040 form).

My question -- who is entitled to the refund if both employers overpay the employer share of social security? Is it legal for the Sole Proprietership to simply not pay their 6.2% social security share if they know the employees other employer will max them out before year end? Or does timing of the two employer payments come into effect?
What if neither employer is informed about the employees other job, how do the employers find out about the overpayment?

Or are employer social security contributions not capped like employee contributions?


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http://www.fatwallet.com/forums/finance/1416262/ Fri, 19 Dec 2014 21:24:19 -0600
<![CDATA[That time of year, Pay rise / bonus thread]]> http://www.fatwallet.com/forums/finance/1416196/ Rating: 7 Posted By: newnorley
Views: 5806 Replies: 80

Payrise - = U.S. workers can expect a median base salary increase of 3 percent in 2015 across all main employee categories - See more at: http://www.shrm.org/hrdisciplines/compensation/articles/pages/20...
Bonus - couldn't find an average figure

How did you do, did you negotiate ? Any tips on how to get higher pay rise? I went from 10% to 16% by just asking.
Me: Pay rise - 16 % Negotiated
Bonus $0

Wife: Pay rise - 7.7% Not Negotiated
Bonus - 3.85% of 2014 salaryNot Negotiated


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http://www.fatwallet.com/forums/finance/1416196/ Fri, 19 Dec 2014 14:50:11 -0600
<![CDATA[No remedy for Chase home purchase loan appraisal failure]]> http://www.fatwallet.com/forums/finance/1416173/ Rating: -6 Posted By: Thoreau
Views: 1470 Replies: 17

Our real estate purchase was ruined by Chase, costing us several thousand dollars lost fees and inability to purchase our home. The appraisal Chase ordered was done poorly, resulting in a estimated value of $800,000--more than 10% below the fair market value of the property and $100,000 below our contract price. Despite our efforts to appeal this valuation, including obtaining a second appraisal elsewhere, Chase stood behind the opinion of their chosen appraiser. As a result, the seller refused to extend the closing date, ended our deal and sold the property to another buyer for $915,000, an amount $115,000 above the Chase appraiser's value. We asked for a partial refund of the loan application fee paid from our Chase checking account, but Chase refused to provide any refund. There appears to be no recourse. I advise not using Chase for a home purchase loan.


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http://www.fatwallet.com/forums/finance/1416173/ Fri, 19 Dec 2014 13:38:26 -0600
<![CDATA[BOA KTC match finally came through]]> http://www.fatwallet.com/forums/finance/1416169/ Rating: 1 Posted By: BenH
Views: 942 Replies: 0

Finally got my $250 match from KTC program that I got into right before it ended last year.
Wish I was able to take better advantage of it.

This is just a reminder to others who were enrolled before it ended to check to ensure your matching comes through.


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http://www.fatwallet.com/forums/finance/1416169/ Fri, 19 Dec 2014 12:30:48 -0600
<![CDATA[Avoid NIIT (Net Investment Income Tax) using S-corp?]]> http://www.fatwallet.com/forums/finance/1416152/ Rating: 2 Posted By: ssgcinty
Views: 1113 Replies: 6

Some folks got hit with the NIIT in 2013/2014.
Can you have an S-corp do investments as a side activity?
Capital Gains (if any) will be included in the distribution.
These distributions are typically not subject to NIIT,

Would this help avoid NIIT?

Edit: Changed title. Modified verbiage a little


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http://www.fatwallet.com/forums/finance/1416152/ Fri, 19 Dec 2014 10:40:37 -0600
<![CDATA[sell vs. rent question, seeking advice work relocation]]> http://www.fatwallet.com/forums/finance/1416103/ Rating: 0 Posted By: skh12
Views: 1179 Replies: 12

i owe about $184k on my primary home, they are selling around $265k, so potential equity of $80k, this is in south east Florida in a gated neighborhood of about 300 homes PITI and HOA is $1450, could rent for $1800 or more (house across the street rents for $2100).
i have the usual concerns of being a landlord, and then what if property values tank again?

i like the idea of possible coming back to a place in florida, but this part of the state is populated by new yorkers/new jersey , with their style of driving and manners.

should i sell and be done with it? i don't have any confidence in real-estate after 2007~2010, so if i can cash out the chips and bank $50k?, i know that's chump change to a lot of you, but not me.

no debt outside the mortgage and my wife's car (her car was 12 years old, and the repairs were stacking up so i got her a CPO 2013 CRV @ 0.9% apr) .



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http://www.fatwallet.com/forums/finance/1416103/ Fri, 19 Dec 2014 05:12:24 -0600
<![CDATA[Worth it to follow the opt-out procedures in the privacy policy of your bank/CC/cable company/phone company, etc.?]]> http://www.fatwallet.com/forums/finance/1415925/ Rating: 0 Posted By: BADADVICE
Views: 1418 Replies: 13

We've all seen the mandatory privacy notices sent to us by financial institutions, utilities, and other companies... Does anyone here actually take the time to diligently call all the 800 numbers and jump through the hoops to not have their information sold/shared? Is there any real advantage to doing this, or is it mostly just an act of futility based on principle?




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http://www.fatwallet.com/forums/finance/1415925/ Thu, 18 Dec 2014 18:31:34 -0600
<![CDATA[How to promote a doctor as an expert witness?]]> http://www.fatwallet.com/forums/finance/1415915/ Rating: -1 Posted By: unnamedny
Views: 2636 Replies: 51

I'm posting this topic on behalf of my girlfriend. (no pics)

I work for a well-known doctor who has also just graduated from major law school. He is a physician who is looking for expert witness gigs aside from his medical practice. His knowledge and fields of expertise are very wide. Besides medical malpractice cases he can be an expert witness on corporate compliance cases. He previously served as a principal investigator on various drug review panels. He has multiple publications in different fields of medicine and has received multiple awards for them. He has been invited as a guest speaker by multiple pharmaceutical companies and on several occasions worked for government. He can also act as an investigator in pharmaceutical drug trials as well as manage the drug trial process.

He hired me as administrative assistant whose responsibility is to look for cases for him. This is a new territory for me and I'm trying to getmore opportunities for him. I already applied and created profiles for him on various expert witness sites. In addition to that I posted his CV and applied for positions that sounded suitable for him on major pharmaceutical websites. I'm looking for advice on how to approach pharmaceutical companies. I am not sure about who is the right person to talk to- people that are actually developing drugs, or executives and the legal team. Any advice on how to find more work is highly appreciated.

edited.


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http://www.fatwallet.com/forums/finance/1415915/ Thu, 18 Dec 2014 17:47:46 -0600
<![CDATA[Shifting income in small business from father to son]]> http://www.fatwallet.com/forums/finance/1415897/ Rating: -3 Posted By: jcb193
Views: 999 Replies: 3

So my father and I have owned a small business for many years. We both contribute to its success and currently each take half the profits. As my father begins to wind down, and my responsibilities increase, he wants to start shifting more income my way. Obviously this gain income will greatly increase my tax burden and neither of us wants to throw away money to the tax man. What are all the creative ways that we can "shift income" within incurring major tax increases? I know this is a great question for a tax professional, and we're pursuing that route, but I also know the internet is more clever than one tax person will ever be.

We could only come up with the following:
1.) Him making the donations to the tax-deductible kids college funds.
2.) Starting a company 401K, and having his portion of the proceeds fund it.
3.) Gifting me (though this doesn't help much from a tax write-off perspective).

Can anyone throw in any other ideas? If it helps, we will also be building a joint house together (connected in law suite).


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http://www.fatwallet.com/forums/finance/1415897/ Thu, 18 Dec 2014 17:13:57 -0600
<![CDATA[New Car Purchase problem]]> http://www.fatwallet.com/forums/finance/1415836/ Rating: -4 Posted By: LaChupacabraj
Views: 1747 Replies: 17

I recently went into a dealer to purchase a new car. We had agreed on the price, and signed an agreement to purchase. They needed to prep the car, so I left and was going to pick it up that afternoon. I received a call that afternoon saying the car had already been sold. The dealer told me they could have a replacement two days later, and would give me an additional $500 on my trade, which I agreed to. They called me the next day saying that it would be even longer than two days, at which point I told them to not worry about it. I called the finance manager to have all my personal information sent back to me, and was told she had already done a hard pull on my account and approved the loan.

What options for recourse do I have? I had a signed contract that was my car, and the dealership chose to break that contract. Do I just ask to have the hard pull removed and go on with my life?


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http://www.fatwallet.com/forums/finance/1415836/ Thu, 18 Dec 2014 14:39:18 -0600
<![CDATA[In Debt. Need Advice]]> http://www.fatwallet.com/forums/finance/1415788/ Rating: 0 Posted By: justamarine
Views: 2209 Replies: 33

Hello my wife and I are newlyweds of almost 2 years and was just blessed with our son who is now 6 weeks old. but just recently we ran into a quite a bit of debt of 17k and about 3k of that being high interest of about 25% the rest is School and Car loan lingering around 6-7% I have a decent job at an insurance company and I took her out of work to be a stay at home mom until she attends school in thefall of 2015. she just recently just started doing surveys for extra income but we havent seen anything come from that she just started this week. the way were going right now we will be able to be debt free in MAYBE 2-3 years but Im looking for adviseto speed this process up because i really want to start investing for retirement and my son's college fund which it stupid to try todo unless ur debt free. I do throw 60/monthly in 401(k) though because if the tax free benefits.

My Total Monthly Earning is 1,800 to 2k.
Company Total Intrest Min Payment
VS 540 24.99 25
Sears 787.27 25.24 25
Sallie May 62
M&T 14000 237
Landlord 800
Discover 1263.89 22.99 30
16591.16 1179
Insurance 180
Gas 80
Food 150
Phone 35
Nymo 150
Total 1774


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http://www.fatwallet.com/forums/finance/1415788/ Thu, 18 Dec 2014 13:18:22 -0600
<![CDATA[Twenty-something looking for general advice]]> http://www.fatwallet.com/forums/finance/1415751/ Rating: 3 Posted By: sethkbj
Views: 2841 Replies: 33

So my story isn't a complex one, but I was hoping to catch a bit of advice from someone who knows what the hell is going on in the world of finance:

I'm 25 years old, single, and renting an apartment. I have a gross salary of around $120k, roughly $25k in savings (this amount is split between a checking account and a tradeking account where I mess around), and no debt. My previous employer offered a pretty decent traditional 401k through Vanguard, where I have $15k fully vested. I am now working with a company who requires a year of employment (which will occur in May, 2015) before using the company matched 401k. At my previous employer, I had contributed around $1500 to the traditional 401k in 2014 before leaving. I believe that means I have about $3500 left that I can contribute to a traditional IRA? What should I do to end 2014 that would maximize my reduction in tax liability? Also, what do you recommend going forward before I'm eligible to contribute to the company provided 401k (which I believe is maxed at $17,500/year)?

Note: My first thought was to contribute just the base $3500 to a newly opened traditional IRA on my Tradeking account and wait until next year before doing anything else.

=15pxLet me know any thoughts/questions you may have. I appreciate it!


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http://www.fatwallet.com/forums/finance/1415751/ Thu, 18 Dec 2014 11:19:54 -0600