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[Interest only home mortgage. Is it worth it?]]> http://www.fatwallet.com/forums/finance/1480039/ Rating: 0 Posted By: spam4hk
Views: 225 Replies: 25

I have excellent credit (over 800), no credit card debt but I am making a car payment ($74K left) - yes its an expensive car which most members here would shudder at

I'm thinking of buying a place in the Bay Area where property prices are through the roof (1 Million dollars for a 1BR type situation). I came across SoFi during my mortgage loan search and turns out they provide an interest only loan.

I was wondering what members think of this loan? I'm a first time home buyer, but am intrigued at the idea of paying interest only for 10 years on a condo and before the principal payment becomes due in 10 years, I'm thinking of selling the place (hopefully at a profit by that time). Is this strategy sound?
The advantage of a 40 interest only loan is of course is being able to afford more house thana 30 year fixed loan would provide which is useful here in the Bay Area. If I do end up selling in 10 years, then I'll come out ahead with having made low monthly payments for 10 years and a profit on the sale in 10 years (if the property value goes up)

A n00b question for this type of loan also is whether the APR payment rates are capped now or will they change in 10 years when the principal amount becomes due. I'm asking because we're coming close to historically low mortgage rates and I was wondering if its better to lock down a 30 year fixed at these rates or go with a 40 year interest only loan with SoFi (10 years interest payments and then 30 years of principal payments). If I go with the interest only loan and mortgage rates rise in 10 years, will I not know what sort of payments I'll be making in 10 years and can they go significantly higher than anticipated?

Thank you for your advice!

Any suggestions would be appreciated. thank you!

Real Estate Deals

http://www.fatwallet.com/forums/finance/1480039/ Sat, 13 Feb 2016 18:04:51 -0600
<![CDATA[Best way to pay a large amount to the IRS]]> http://www.fatwallet.com/forums/finance/1480037/ Rating: -1 Posted By: taxmancometh
Views: 245 Replies: 10

I sold my business this year and my tax liability will be about $1,000,000 give or take. Yes I paid quarterly by safe haven so no issues there. Yes this is an alt-id for obvious reasons. Do you all have any ideas on the best way to pay the bill. I do have a fidelity 2% amex. Can I prepay the AMEX and then pay by the credit card for the difference? I also couldn't find any travel cards that would come out as a benefit. Any other ideas? Maybe just a check would be the best on April 15th and enjoy the few days of interest. April 15th is a friday!

Tax Deals

http://www.fatwallet.com/forums/finance/1480037/ Sat, 13 Feb 2016 17:13:13 -0600
<![CDATA[How possible is it to reallocate your salary and bonus amounts at work?]]> http://www.fatwallet.com/forums/finance/1480005/ Rating: 0 Posted By: rza1
Views: 436 Replies: 7

After my annual review, I received increases in both my salary and potential bonus size. But what I really want is a larger salary since the bonus is discretionary anyway. My new salary recently became into effect but anyone know how possible it is to bring my bonus back down and put it towards the salary in a corporate, public company environment?

Question Deals

http://www.fatwallet.com/forums/finance/1480005/ Sat, 13 Feb 2016 10:36:26 -0600
<![CDATA[Question: Cost Basis and taxes]]> http://www.fatwallet.com/forums/finance/1479960/ Rating: 0 Posted By: fongo61
Views: 584 Replies: 6

I have a quick question. From my understandingtaxes are accessed based on the Cost Basis,whenstocks or mutual funds are sold. Since the market is down right now is it a good time to move money frommy regular account to my Roth?

Tax Deals

http://www.fatwallet.com/forums/finance/1479960/ Fri, 12 Feb 2016 16:47:38 -0600
<![CDATA[Navy FCU or Penfed HELOC]]> http://www.fatwallet.com/forums/finance/1479932/ Rating: 0 Posted By: art07154
Views: 708 Replies: 5

I am a member of 3 credit unions . Which one has the best deal ? I am at 65%LTV.
I am probably won't draw from it for a while. Just want to have itavailablejust in case we need it.

Question Deals

http://www.fatwallet.com/forums/finance/1479932/ Fri, 12 Feb 2016 10:47:16 -0600
<![CDATA[ Umbrella ins.?]]> http://www.fatwallet.com/forums/finance/1479915/ Rating: 0 Posted By: needhelpplease
Views: 1058 Replies: 22

Got a $18/mo for $1MUmbrella ins. quote from USAA.

But they wouldn't auto issue online, so they probably want me to raise my minimal auto+ homepolicies with them. Not sure if that would raise premiums it to the point I should shop around with other providers for the umbrella.

I like USAA service for auto+ home so wouldn't switch that unless it's significant.

Any online portals that shop around?

Question Deals

http://www.fatwallet.com/forums/finance/1479915/ Fri, 12 Feb 2016 08:47:19 -0600
<![CDATA[Minor accident with someone with no insurance coverage]]> http://www.fatwallet.com/forums/finance/1479904/ Rating: 0 Posted By: pattyboggs5
Views: 1118 Replies: 26

I was rear ended one week ago. I found out (after no return calls from the insurance company of the person that rear end me) they gave false information to the police and have no insurance coverage. I am in the middle of purchasing a home and do not have the $1000.00 deductible to file the claim with my insurance co.

Q-should I take this to small claims court? If so, do I go for just the deductible or take in estimates for the repairs and ask for full payment and not go through my insurance co?

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479904/ Fri, 12 Feb 2016 07:42:24 -0600
<![CDATA[Marriott Reward Points Redemption?]]> http://www.fatwallet.com/forums/finance/1479903/ Rating: 0 Posted By: whitequeen96
Views: 628 Replies: 6

I've searched, but didn't find an answer to this question. Does anyone buy these, and at approximately what rate? Is it a penny a point?

Question Deals

http://www.fatwallet.com/forums/finance/1479903/ Fri, 12 Feb 2016 07:42:08 -0600
<![CDATA[Pay tax with credit card - Latest fee schedule from IRS]]> http://www.fatwallet.com/forums/finance/1479902/ Rating: 8 Posted By: shinobi1
Views: 2599 Replies: 22

Since many FWF denizens will be paying tax this weekend by credit card, starting today . . .
I thought I would post a link to the latest IRS data on costs:

Here is the link

If you think there are changes, I agree with you. That schedule is good for all of 2016.

Have fun paying out those big bux!

Tax Deals

http://www.fatwallet.com/forums/finance/1479902/ Fri, 12 Feb 2016 07:37:16 -0600
<![CDATA[Car hit me from behind. anything im missing?]]> http://www.fatwallet.com/forums/finance/1479875/ Rating: 0 Posted By: CaliforniaDriver
Views: 1119 Replies: 19

Hey Guys.
This is a pretty simple accident. Car hits me from behind on the freeway. Admits fault, calls his insurance company and they call me right away to confirm the claim.

They already scheduled an appointment with a Body Shop, rental car, and the insurance adjuster will be out on site to asses the damages tomorrow morning.
The guy that hit me, his insurance people are saying that they will take care of everything and I dont even need to contact my insurance company. Oh ok. cool.
My back is a little sore and I told the lady over the phone to document it because I might get a check up.

So when they fix my bumper, is there anything else that I should be asking for? My car is a 2004 acura TL so I dont know if I can ask for diminishing value since the car itself is probably worth 6k-8k.

Just checking to make sure I havent forgotten anything.

Thanks all!

Question Deals

http://www.fatwallet.com/forums/finance/1479875/ Fri, 12 Feb 2016 00:28:46 -0600
<![CDATA[IRS agent shakes down medical marijuana business in exchange for leniency during an audit]]> http://www.fatwallet.com/forums/finance/1479872/ Rating: 0 Posted By: bighitter
Views: 1108 Replies: 15

ABC News reported tonight that an IRS agent who was shaking down a medical marijuana dispensary for leniency during an audit is on trial.

ABC news video here

"A jury is now deliberating the fate of a former SeattleIRSagent who was captured by theFBIon a hidden camera allegedly accepting thousands in bribe money from a marijuana business in exchange for leniency during an audit.The trial started Monday for Paul G. Hurley, who is accused of soliciting and receiving a bribe by a public official.According to court documents obtained by ABC News, Hurley performed an audit for a medical marijuana dispensary called Have a Heart, meeting with owner Ryan Kunkel several times between July and September 2015. Hurley was then working out of the IRS' Seattle, Washington, office."

This and other recent incidents makes me wonder how many IRS agents supplement their income via similar abuse. Is there any government hotline that businesses and consumers can access to report this kind of crime? If so, please post the telephone number.

Tax Deals

http://www.fatwallet.com/forums/finance/1479872/ Thu, 11 Feb 2016 22:02:48 -0600
<![CDATA[Contribute to HSA or pay student loans]]> http://www.fatwallet.com/forums/finance/1479842/ Rating: 0 Posted By: MagicLoogies
Views: 787 Replies: 14

I am trying to decide whether to contribute to my HSA for 2015 or use the money (~2000) to pay off student loans. Perhaps another option would be to contribute to 401k or IRA for 2015 as well.
We had a baby in Dec. 2015 - so I am anticipating clearing out my HSA (and then some) to pay the hospital bills. Insurance is still working with the hospital, but I think I will end up using up the HSA. It currently stands at $4,000.
I also have about $28,000 in student loan debt (at an average of 6% interest).

Age 28
2016 Income ~$55K
2015 Income ~$80K (wife was working, and I worked 10 months after finishing my masters)
~$10k in retirement, ~7k in emergency fund

Thanks, other alternatives are definitely welcome!

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479842/ Thu, 11 Feb 2016 16:28:55 -0600
<![CDATA[Rollover as Business Start-Ups (ROBS) Strategy]]> http://www.fatwallet.com/forums/finance/1479839/ Rating: 5 Posted By: highmktgoods
Views: 1160 Replies: 1

See below article "Navigating the Rollover as Business Start-Ups (ROBS) Strategy." It appeared in the The National Law Review on January 28th 2016. It is a well-written article explaining that such strategy using retirement plans are allowed under the Internal Revenue Code as well as the Department of Labor rules.

The article provides some wonderful caveat to people seeking to user 401k start up a business;

"A budding entrepreneur should be cautious with the promoters out there, as there are the opportunists who will offer to set up the financing strategy for a somewhat large fee, but then will walk away from guiding such entrepreneur on the ERISA compliance rules (proper 401(k) plan administration, allowing other employees into the plan, 5500 filings, annual business valuation) that a QES (Qualified Employer Securities) transaction requires. The lack of ERISA attention, along with the IRS's retirement plan concern that people are possibly throwing their career-long savings away to a businesses that fails (really no different from mortgaging a home even more, which entrepreneurs have done), appear to make these QES transactions somewhat risky. It should be noted however that, while the IRS has expressed concern over the QES financings as recently as late 2015, the agency does not find the transaction as non-compliant ("we do not believe that the form of all of these transactions may be challenged as non-compliant per se") "

"With proper counseling, a QES transaction is an appropriate financing tool, so long as the entrepreneur understands the risk, armed with the right team of advisors in place. This is self-serving, of course, but an entrepreneur needs, at a minimum, an ERISA attorney who quarterbacks these transactions (and is conversant with DOL fiduciary and IRS tax rules),a sophisticated CPA, and 401(k) service providers who can handle the ongoing administration of the plan."

Navigating the Rollover as Business Start-ups (ROBS) Strategy

Question Deals

http://www.fatwallet.com/forums/finance/1479839/ Thu, 11 Feb 2016 16:11:05 -0600
<![CDATA[Advice requested - which credit cards to discard and/or add?]]> http://www.fatwallet.com/forums/finance/1479816/ Rating: 0 Posted By: abishagenaden
Views: 774 Replies: 9

Hi all:

I've had the following suite of CCs for the last year or so but am wondering what suggestions everyone has on which cards I have the opportunity to do away with and which cards I might want to consider adding --

  • Chase Ink Bold (Used primarily for telecom and office supply purchases)
  • Chase Freedom (Usually only use this for the quarterly bonus categories, typically gas, groceries, and Amazon)
  • United MileagePlus Select (Barely use this, keeping it just for the UA MileagePlus account really -- potential to discard since I can just transfer miles from my other points programs to my MileagePlus account?)
  • Amex EveryDay (I always try to make the 30 transactions per cycle to qualify for the bonus points)
  • Amex Costco TrueEarnings (Only used at Costco and for 4% bonus on gas when Chase Freedom's 5% quarter is not in effect)
  • Amex Blue (Never used, and I can't remember why I'm keeping it in my wallet. I feel it was because I needed it for Amex's Membership Rewards program for some reason perhaps?) [/list]

    Other considerations --

  • I do travel overseas occasionally and right now the only card without foreign transaction fees that I have is the Chase Ink Bold.
  • My main intended use of Amex and Chase points is for airline travel (via transfer to the various airline FF programs).

Credit Deals

http://www.fatwallet.com/forums/finance/1479816/ Thu, 11 Feb 2016 14:08:46 -0600
<![CDATA[Amex Offers Simply Cash Plus (Business card) $500 for $5K spend $1000 for $10K]]> http://www.fatwallet.com/forums/finance/1479797/ Rating: 2 Posted By: MisterEd
Views: 1309 Replies: 11

Was looking through Amex Offers on my Simply Cash card and saw this:SimplyCash Plus Business Card offer. There is an "APPLY" link with the offer.

Choose where you get the most for your business SPECIAL OFFER

Spend $5,000 on purchases, get $500 or spend $10,000 on purchases, get $1000. Offer is valid on eligible purchases on the Card made within the first 3 months of Card Membership. The maximum amount of Cash Backyou can get from this Special Offer is $1000. Cash Backwill be credited in the form of a statement credit. Terms apply.

Your application must be received by March 25, 2016, to be eligible for this offer.

  • 5% Cash Backat U.S. office supply stores and on wireless telephone services purchased directly from U.S. providers
  • 3% Cash Backon the category of your choice: U.S. gas stations, U.S. restaurants, U.S. purchases for advertising in select media, U.S. purchases for shipping, Airfare purchased directly from airlines, Hotel rooms purchased directly from hotels, Car rentals purchased from select car rental companies, U.S. computer hardware, software, and cloud computing purchases made directly from select providers.
  • 1% Cash Backon other purchases
    Terms and limitations apply.2
    5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. Cash Backearned is automatically credited to your statement.

Credit Deals

http://www.fatwallet.com/forums/finance/1479797/ Thu, 11 Feb 2016 11:58:29 -0600
<![CDATA[Pay off auto loan with 0% credit card?]]> http://www.fatwallet.com/forums/finance/1479787/ Rating: 2 Posted By: Eagle357
Views: 1246 Replies: 26


I have 14 months left on my auto loan at 4.4%. If I pay monthly, it will come out to $4,620.

I received a 0% balance transfer with a 2% transfer fee. The payoff is $3,827. So my transfer cost would be about $77. The 0% is for 14 months. I figure if I do this, I woukd save roughly $700 in interest. My credit line on the card is $7,000. so this would be 54% utilization. No other credit card debts.

My FICO is 836. Would I get dinged for doing the above? Should I just continue monthly payments? If I did transfer, I plan to pay it off in one year or less.

Question Deals

http://www.fatwallet.com/forums/finance/1479787/ Thu, 11 Feb 2016 11:14:23 -0600
<![CDATA[When to refinance student loans again? This month too early?]]> http://www.fatwallet.com/forums/finance/1479777/ Rating: 0 Posted By: rza1
Views: 640 Replies: 3

I graduated from grad school in 2015 and started working in July. I refinanced through SoFi in September. The variable rate I got wasn't great but better than what it was. Since September, my credit score has improved to 800+, my income increased 20% after the annual review,, paid down all of my credit card debt from 15k, and made a few payments on my student loans but I still owe quite a bit. I am thinking of refinancing to fixed or a better variable rate. I'm considering CommonBond, DBZ, or trying to refinance again with SoFi. Should I wait a bit?

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479777/ Thu, 11 Feb 2016 09:25:47 -0600
<![CDATA[Haggling the price on a *used* car from a dealer?]]> http://www.fatwallet.com/forums/finance/1479767/ Rating: 0 Posted By: musicmaster
Views: 1760 Replies: 34

When I bought my current car, it was new, in 2012. It was easy - I emailed about 10 dealers in my area with a specific model asking for the OTD price on the model. Some were hesitant to give me a price online, but I eventually found my winner.

Now I'm looking for a 3-4 year old CUV (Maxda CX5) with a 6 speed manual and 40-50k miles on it. All of the prices at the dealers for a used car are within 20% of a new one (16-17k for a car I could get for around new 20-21k). Obviously being a 6 speed manual, there's less options out there, but I've found 7-8 cars within a 100 mile radius that match what I want. I did the same thing. Asked the dealer for the lowest OTD price and play them against each other. Only now, not a single one is budging off their sticker price.

Having never bought a used car from a dealer before, is this normal?

Discussion Deals

http://www.fatwallet.com/forums/finance/1479767/ Thu, 11 Feb 2016 07:59:28 -0600
<![CDATA[12 month 0% BT 3% fee ($100 max) from NuVision FCU (may be targeted)]]> http://www.fatwallet.com/forums/finance/1479703/ Rating: 0 Posted By: Waffles
Views: 746 Replies: 1

NuVision FCUis offering a 12 month 0% balance transfer (3% fee, max $100) for new applicants of their VISA card. Anyone can join via the "American Consumer Council" but branches are mostly in Southern California. Once you have a membership number, try the following LINK.
Promo email said: Dear Waffles,
You are pre-approved for a VISA card! 0% On Balance Transfers!*
*Existing NuVision account holders are not permitted to transfer balances from an existing NuVision VISA Credit Card. NuVision reserves the right to change or cancel this offer at any time. See Visa disclosure for more details. Allow 30 days for processing balance transfers. Cardholder is responsible for payments until pay-off received. Offer expires 4/15/16.

Investing Deals

http://www.fatwallet.com/forums/finance/1479703/ Wed, 10 Feb 2016 17:47:29 -0600
<![CDATA[$500 for opening 50K brokerage and $500 checking Bank of the West]]> http://www.fatwallet.com/forums/finance/1479702/ Rating: 2 Posted By: rpi1967
Views: 1154 Replies: 6

Open a Bank of the West Investment brokerage non IRA account (BWIS) with 50 K in stocks or cash to get $200 bonus
Open a Bank of the West premier checking account this month and link with BWIS brokerage account to get $300 bonus

Bigger brokerage bonus up to $2500 for larger account balances.

Perks include
15 commission free stock trades per month
free small safety deposit box
atm fee rebate worldwide

without linked brokerage account there is $30 fee per month, waived if combined account balances (bank and brokerage)is above $50k each month

Investing Deals

http://www.fatwallet.com/forums/finance/1479702/ Wed, 10 Feb 2016 17:36:06 -0600
<![CDATA[Should I get a Heloc?]]> http://www.fatwallet.com/forums/finance/1479688/ Rating: 0 Posted By: art07154
Views: 1350 Replies: 28

I have 11 more years left on 15 years fixed at 3%. My house is about 65% LTV conservatively . I have a high risk job that pay well butcan get lay off anytime.
It's probably take me 2-3 months to land another job with 25% decrease in salary. I have enough saving to cover about a year of expenses, $50k in mutual funds investment and 401k.
should I get Heloc to help me sleep better at night ?

Question Deals

http://www.fatwallet.com/forums/finance/1479688/ Wed, 10 Feb 2016 15:30:13 -0600
<![CDATA[SCTY worth a bet on bankruptcy?]]> http://www.fatwallet.com/forums/finance/1479664/ Rating: 0 Posted By: CptSavAHo
Views: 1282 Replies: 9

Its been a rough year+ for Solar City and the stock is continuing to slide, while the company is not turning profit. With oil prices down alt energy is going to struggle. What are the odds of getting a 'lease' system installed and betting on it not being removed in the event of bankruptcy? The lease allows for removal as well so if they dont go belly up you can just have it taken down later.

Discussion Deals

http://www.fatwallet.com/forums/finance/1479664/ Wed, 10 Feb 2016 12:37:06 -0600
<![CDATA[Rate drops during extended loan closing]]> http://www.fatwallet.com/forums/finance/1479642/ Rating: 0 Posted By: pj737
Views: 1682 Replies: 23

I am about a week away from closing on a 30-year refi on a property. The loan amount is $1.4M, rate was locked at 4% / 30-year fixed. I had to pay 1.25 points to get that rate at the time. It is a portfolio loan product. I plan to keep the property for 30 years or more.

The bank took an excessively long time to close - 5 months. We locked in the rate in September 2015 and are only now closing. I was responsible for roughly 3 weeks of that delay (waiting on tax documents, etc); the rest was entirely on the bank's inability to staff the mortgage department sufficiently and properly. I should note that the delay in the refi has costed me thousands in interest as I am refinancing to lower my rate considerably. The bank did extend the lock multiple times over the 5 month period because of delays caused by them(initial lock was only good for 45 days and loan was expected to close in 40 days).The rate has held relatively stable over the 5-month period until recently when the rate dropped to 3.5%. The bank did not offer a float-down option at the initial lock; they do not allow them at least on the loan product I went with.

I recently asked the bank if they would be willing to reduce the rate for me and they said that's not possible. I offered to pay them a fee (perhaps treated like points that buy down the rate) but said that's still not possible. The savings I would realize are substantial - roughly $400/mo in interest over 30 years. If I paid an extra 0.5% in points/fees at closing, for example, the cost would be recouped in 18 months.

I should note that I have a close and long-term working relationship with this particular bank (operating lines of credit and construction loans that sometimes run in the millions) and the personal banker is a friend of mine,so closing the loan and going to another bank isn't an option for me. I trust my personal banker; it's very likely this is entirely out of his control. But I can't help but think the bank could offer me options but simply chooses not to. Especially when you consider the bank's projected 40-day loan closing took 4 times longer and as a result I incurred significant interest costs.

Should I try to push this harder or just throw in the towel because I'm nuts?

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479642/ Wed, 10 Feb 2016 08:45:54 -0600
<![CDATA[Chase banker refused to offer safe deposit box]]> http://www.fatwallet.com/forums/finance/1479616/ Rating: 0 Posted By: nextAaron
Views: 2645 Replies: 54

I went to Chase and asked the banker if I can rent a safe deposit box (free for me as premier checking customer).
He told me there are a few but they want to keep them for private clients.
This is outrageous.
Is this against the law or purely a customer service issue?
Who shall I complain to?

Deposits Deals

http://www.fatwallet.com/forums/finance/1479616/ Wed, 10 Feb 2016 01:49:07 -0600
<![CDATA[Horrible experience trying to buy a used car from dealership]]> http://www.fatwallet.com/forums/finance/1479599/ Rating: -8 Posted By: suckaphish
Views: 2254 Replies: 56

Long story short, I went to a Honda dealership in the city of Orange, CA. The car in question, a 1998 Honda Civic LX Auto-FWD, is advertised at $3795 with a price tag in window and with a Kelly Blue Book suggested retail of $5,589. I negotiate, pleading that I am a broke student on a budget and i talk the guy down to $3,500 + tax and fees which was told to be $4,080 and had them skim the last $80 to make it $4k even.

Came back the next day to buy, and upon test driving, noticed that the head unit with the radio and clock doesn't turn on. The salesman tells me that the car is "as-is" and that is why he as able to let the car go so cheap. I asked, since they are a Honda dealer, how much would it cost to fix the radio, and after some fast talking and going off to ask someone, I get told $300. By now I'm curious to know if the $5,589 suggested KBB retail price took into account a functional AM/FM stereo and asked for a detailed breakdown of the KBB appraisal - which allows you to see what was taken into consideration regarding all the options that come with the car. Matt leaves and returns after some time with the manager. This old gentlemen makes no attempt to try to sell me the car, but politely says he's not willing to do anything more at the 4k OTD price. He then hands me a KBB retail breakdown and its quoting a retail value of 3,390 which included AM/FM stereo in the appraisal - which it shouldn't have. WTF?!? from $5,589 to $3,390,NO JOKE i ask him how come the KBB suggest retail price on the car window reads $5,589 when here he is handing me a detailed breakdown from KBB (for the dates 2/5/2016- 2/11/2016) stating a suggested retail value of $3,390. He stated he didn't care what the sign on the car read or what the piece of paper he just handed me read - the old bait and switch. He stated that the KBB suggest retail price was just that, a suggestion, and he could charge less or more - this when I started feeling insulted - and that he was going to be losing $200 on the car already at the 4k OTD price and that this was the best he would do. As he is stating this, he starts packing up his paperwork giving me the indication to get lost. Before I head out I ask for the printed KBB suggested price and take pictures of what is posted on the car window. What poor professionalism displayed by the manager.

What can I do? Paying $4k out the door now after seeing a KBB of $3,390 suggested retail is kinda absurd since i was under the impression that it was valued at $5,589. Taking into consideration that the $3390 includes AM/FM stereo which this doesn't have and would be charged $300 to fix, brings it down to $3090.

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479599/ Tue, 09 Feb 2016 21:41:25 -0600
<![CDATA[can a irrevocable life insurance be changed once it is made?]]> http://www.fatwallet.com/forums/finance/1479598/ Rating: -1 Posted By: ffatwalleter
Views: 849 Replies: 2

My father made a life insurance trust. The beneficiary is my mother or her trust. We caught someone taking money out of the checking account, that is used to pay the life insurance. So we cancaled the account We wanted to open a new checking account to pay for the life insurance. There was no paper work for the insurance. I told my sister to get paperwork. She supposedly got it but won't show me the paper work. She wants me to go to bank and sign my signiture to open a checking account because I am one of the trustees. She will bring paperwork for the insurance later. Can they make changes to a irrevocable life insurance trust. Or get a new life insurance with new benificiaries and make my father continually pay it?

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479598/ Tue, 09 Feb 2016 21:33:34 -0600
<![CDATA[ Filed Federal and State Tax Online !!!]]> http://www.fatwallet.com/forums/finance/1479595/ Rating: -6 Posted By: woeu
Views: 1263 Replies: 11

My daughter did her taxes online using Turbo Tax she did just the 1040EZ. After she had already submitted it and printed off her copies she noticed that she had put down where she is getting a refund that the box for savings was checked by mistake. She should have checked, checking. She put down the right checking account number and routing number of the bank. She is worried that since she checked saving instead of checking it will mess up her refund. Does anybody here know? I told her I didn't think it would since she has the correct routing number and her account number. Am I correct?

Tax Deals

http://www.fatwallet.com/forums/finance/1479595/ Tue, 09 Feb 2016 19:34:04 -0600
<![CDATA[do you guys know of any good websites to ask legal questions?]]> http://www.fatwallet.com/forums/finance/1479582/ Rating: 0 Posted By: ffatwalleter
Views: 1357 Replies: 27

I have been looking for websites that answers legal questions. Do you guys know any? Have any of you tried quora?

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479582/ Tue, 09 Feb 2016 17:22:01 -0600
<![CDATA[How to get into Underwriting?]]> http://www.fatwallet.com/forums/finance/1479577/ Rating: 0 Posted By: ICMATULKASPRMKY
Views: 1257 Replies: 20

How would I go about starting a remote underwriting job with no previous experience? Looking to make about $80k+ and work from home 99% of the time. Cheers

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479577/ Tue, 09 Feb 2016 16:46:42 -0600
<![CDATA[Parents preserving wealth while benefiting children?]]> http://www.fatwallet.com/forums/finance/1479540/ Rating: 3 Posted By: highmktgoods
Views: 1922 Replies: 22

Parents sent a letter to inform their 7 adult children that they had reached an agreement to act as mortgagee for one of the children's new home purchase. The interest rate is favorable for borrowers (though it will pass legal scrutiny as arms-length), fully securitized, and mandatory insurance, etc. Unpaid mortgage (if any) at parent's death will be taken from the amount that the child would individually receive as a beneficiary.They've offered similar deals to their other children (taking a first priority security interest in loan products), all of whom are financially prudent.

Reason given for this plan is that the parents are very concerned about market turmoil and wish to remove money from the market.

Any significant flaws with this plan?

Discussion Deals

http://www.fatwallet.com/forums/finance/1479540/ Tue, 09 Feb 2016 13:08:49 -0600
<![CDATA[Hospital charges for newborn and insurance questions]]> http://www.fatwallet.com/forums/finance/1479492/ Rating: 0 Posted By: craigdj
Views: 1196 Replies: 9

We had twins born 08/01/2015. One of them was in the NICU for a week. I'm trying to make sure all of the insurance claims were done correctly. At the time they were born my wife and I were on different employer offered medical plans. Me on Aetna and her on BCBS. It's my understanding that any charges for the twins as patients were "automatically covered" under the mother's insurance(BCBS). Is that law or plan specific? BUT, when I completed the life event I put them on my insurance(Aetna). So, the effective date of their coverage on Aetna(my plan) is 08/01/2015(their DOB). Since they were put on my plan, shouldn't all charges for the twins claims be filed under Aetna, or should all charges for the first 30 days for them still be directed to BCBS? If BCBS, I don't see how that can work since it would completely throw off deductibles and out of pocket maxes for both our plans since her plan would be "family for 1 month" and then back to single for the rest of year?? It makes much more logical sense to me that whichever plan they are formally put on should be the plan where all charges going all the way back to their DOB for their services should be filed. Is that correct?



Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479492/ Tue, 09 Feb 2016 08:40:54 -0600
<![CDATA[Citi AAdvantage Platinum Select MasterCard 50000 OR 40000+$100 w/ $3000 spend]]> http://www.fatwallet.com/forums/finance/1479488/ Rating: 0 Posted By: leenga
Views: 1029 Replies: 2

50,000 Points
40,000 Points& $100 Statement Credit

  • 50,000 Points

Limited-time offer: earn 50,000 AAdvantage bonus milesTravel is easier and more enjoyable when you have less to do and more to gain. TheCiti / AAdvantage Platinum Select MasterCard can help you get the most out of your travel experiences.

Apply now and earn 50,000 A.mericanA.irlines AAdvantage bonus miles (previously 30,000) after you make $3,000 in purchases within first 3 months of account opening1 that's enough for 2 domestic round-trip MileSAAver awards (fees may apply).2

Use your AAdvantage miles for award travel to more than 1,000 destinations worldwide on A.mericanA.irlines andoneworld carriers.

Love the journey with great travel benefits such as:
NEW! No foreign transaction fees on purchases^
Your first checked bag is free for you and up to 4 traveling companions on domestic itineraries
Group 1 Boarding on domestic flights3
25% savings on eligible in-flight purchases4
Earn 10% of your redeemed AAdvantage miles back5
Earn double miles on eligible A.mericanA.irlines purchases6

What's more, the annual card fee of $95 is waived for the first year^ start planning your next journey today!

*50,000 A.mericanA.irlines AAdvantage bonus miles can be earned by new Citi / AAdvantage Platinum Select MasterCard cardmembers approved through this offer. Earn 50,000 A.mericanA.irlines AAdvantage bonus miles after making $3,000 in purchases within the first 3 months of account opening. A.mericanA.irlines AAdvantage bonus miles are not available if you have had a Citi / AAdvantage Platinum Select Card opened or closed in the past 18 months.

  • 40,000 Points & $100 Statement Credit

A.mericanA.irlines AAdvantage bonus miles after spending $3,000 in purchases within the first 3 months of account opening.1
Plus, new cardmembers will receive up to $100 in statement credits

Receive $1 in statement credits for each $1 spent on eligible A.mericanA.irlines purchases in the first 12 months of account opening.

  • NEW! No foreign transaction fees on purchases^
  • Get the first eligible checked bag complimentary for you and up to 4 traveling companions =10.5pton domestic itineraries.
  • Enjoy Group 1 Boarding =10.5pton domestic flights and use the extra time to prepare for your flight.2
  • Earn AAdvantage miles for using AAdvantage miles. Earn 10% of your redeemed AAdvantagemiles back up to 10,000 AAdvantage miles each calendar year.4
  • Earn double miles on eligible A.mericanA.irlines purchases3 and 1 AAdvantage mile for every $1 spent on other purchases.5
  • Receive a 25% savings on in-flight food and beverage purchases when you use your Citi / AAdvantage card.6
  • Fly using fewer AAdvantage miles with reduced mileage awards!7
  • Travel with ease and enjoy global acceptance with your Citi chip credit card.

What's more, the annual card fee of $95 is waived for the first year^ - start planning your next journey today!

*40,000 A.mericanA.irlines AAdvantage bonus miles and $100 statement credit can be earned by new Citi / AAdvantage Platinum Select MasterCard cardmembers approved through this offer. Earn 40,000 A.mericanA.irlines AAdvantage bonus miles after making $3,000 in purchases within the first 3 months of account opening. Plus, earn $1 in statement credit for each $1 spent on eligible A.mericanA.irlines purchases in the first 12 months of account opening. Statement credit and A.mericanA.irlines AAdvantagebonus miles are not available if you have had a Citi / AAdvantage Platinum Select Card opened or closed in the past 18 months.

First checked bag free
For benefit to apply, the Citi / AAdvantage account must be open 7 days prior to air travel, and reservation must include the primary cardmember's A.mericanA.irlines AAdvantage number 7 days prior to air travel. If your credit card account is closed for any reason, these benefits will be cancelled.
Eligible Citi / AAdvantage primary cardmembers may check one bag free of charge when traveling on domestic itineraries marketed and operated by A.mericanA.irlines, or on itineraries marketed by A.mericanA.irlines and operated as American.Eagle flights by Compass Airlines, LLC, Envoy Air Inc., ExpressJet Airlines, Inc., Mesa Airlines, Inc., Republic Airline Inc., PSA Airlines, Inc., Piedmont Airlines, Inc., Air Wisconsin Airline Corp., SkyWest Airlines, Inc., Trans States Airlines, LLC. All flights on the itinerary must be domestic flights marketed by A.mericanA.irlines and operated by A.mericanA.irlines or American.Eagle carriers. This benefit will not be available for travel on codeshare flights booked with an A.mericanA.irlines flight number but operated by another airline. For the Citi / AAdvantage card, up to four (4) customers traveling with the eligible primary cardmember will also get their first checked bag free of charge if they are listed in the same reservation. Waiver does not apply to overweight or oversized bags. This benefit cannot be combined with any existing AAdvantage elite program benefits, including any waiver of baggage charges. Please see aa.com for baggage weight and size restrictions. Applicable terms and conditions are subject to change without notice.

1. Bonus Miles
Balance transfers, cash advances, account fees, interest and items returned for credit are not purchases. A.mericanA.irlines AAdvantage bonus miles typically will appear as a bonus in your AAdvantage account 8-10 weeks after you have met the purchase requirements. Miles may be earned on purchases made by primary cardmembers and authorized users. Miles earned will be posted to the primary cardmember's AAdvantage account.

2. Group 1 boarding
For benefit to apply, the Citi / AAdvantage account must be open 7 days prior to air travel, and reservation must include the primary cardmember's A.mericanA.irlines AAdvantage number 7 days prior to air travel. If your credit card account is closed for any reason, these benefits will be cancelled. This benefit cannot be combined with any existing AAdvantage elite program benefits, including any waiver of baggage charges. Please see aa.com for baggage weight and size restrictions. Applicable terms and conditions are subject to change without notice. Up to four (4) customers traveling with and listed in the same reservation as the Citi / AAdvantage primary credit cardmember are eligible for Group 1 boarding. Applicable terms and conditions are subject to change without notice.Eligible Citi / AAdvantage cardmembers will have Group 1 boarding on domestic flights marketed and operated by A.mericanA.irlines , or on domestic flights marketed by A.mericanA.irlines and operated as American.Eagle flights by Compass Airlines, LLC, Envoy Air Inc., ExpressJet Airlines, Inc., Mesa Airlines, Inc., Republic Airline Inc., PSA Airlines, Inc., Piedmont Airlines, Inc., Air Wisconsin Airline Corp., SkyWest Airlines, Inc., or Trans States Airlines, LLC. The Group 1 boarding benefit on your Citi / AAdvantagecard will display at the top of your A.mericanA.irlines boarding pass as "Group 1."

3. Double miles on A.mericanA.irlines purchases
Eligible A.mericanA.irlines purchases are items billed by A.mericanA.irlines as merchant of record booked through A.mericanA.irlines channels (AA.com, A.mericanA.irlines reservations, and A.mericanA.irlines airport and city ticket counters). Products or services that do not qualify are car rentals, hotel reservations, A.mericanA.irlines Vacations packages, purchase of elite status boost or renewal, and AA CargoSMproducts and services. Miles earned will be posted to the primary cardmember's AAdvantage account in 8-10 weeks.

4. 10% Back on Redeemed A.mericanA.irlines AAdvantage Miles
For benefit to apply, your Citi / AAdvantage account must be open and active at the time of redemption. The A.mericanA.irlines AAdvantage bonus miles the primary cardmember earns through this benefit will be based on 10% of the total AAdvantage miles the primary cardmember redeems during the calendar year. The maximum number of AAdvantage bonus miles that can be earned annually from this benefit is 10,000 AAdvantage bonus miles per calendar year and per AAdvantage account, regardless of how many AAdvantage miles you redeem in that calendar year, and regardless of how many AAdvantage co-branded credit cards you have. This benefit only applies to AAdvantage miles redeemed from the primary cardmember's AAdvantage account. Discover all the ways to redeem AAdvantage miles at aa.com/redeem. A.mericanA.irlines AAdvantage bonus miles typically post 6-8 weeks after your redemption to the primary cardmember's AAdvantage account.

5. Earn A.mericanA.irlines AAdvantage miles on other purchases
AAdvantage miles are earned on purchases, except returned goods and services, cash advances, convenience checks, transferred balances, credits, account fees and interest charges. Miles may be earned on purchases made by primary cardmembers and authorized users. Miles earned will be posted to the primary cardmember's AAdvantageaccount typically in 8-10 weeks.

6. 25% savings on eligible in-flight purchases
Citi / AAdvantage cardmembers will receive a 25% savings on in-flight purchases of food, beverages, and headsets on flights operated by A.mericanA.irlines when purchased with their Citi / AAdvantage card. Savings do not apply to any other in-flight purchases, such as wireless internet access. This benefit is not available on codeshare flights booked with an A.mericanA.irlines flight number but operated by another airline. Offer is available on eligible flights as long as supplies last. Savings will appear as a statement credit 6-8 weeks after the transaction is posted to the cardmember's credit card account. Applicable terms and conditions are subject to change without notice.

7. Reduced mileage awards
The Reduced Mileage Awards program allows Citi / AAdvantage cardmembers to redeem A.mericanA.irlines AAdvantage miles for round trip or one-way travel on MileSAAver awards to destinations selected every other month. The MileSAAver discount is 7,500 A.mericanA.irlines AAdvantage miles round trip or 3,750 one-way for thisCiti / AAdvantage card. Redemption of Reduced Mileage Awards applies only to bookings made by phone through A.mericanA.irlines Reservations or through airport or city ticket centers. A $35 USD award service charge per person applies to AAdvantage award reservations ticketed by our Travel Centers, or a $35 USD award service charge per person applies to AAdvantage award reservations ticketed by our Airport Agents. This payment does not apply to AAdvantage Executive Platinum members and A.mericanA.irlines AirpassSM customers. All such additional amounts are subject to change. Flights and availability are subject to change without notice. For the complete list of Reduced Mileage Awards, visit aa.com/reducedmileageawards.

8. Up to $100 in statement credits
Eligible A.mericanA.irlines purchases are items billed by A.mericanA.irlines as merchant of record booked through A.mericanA.irlines channels (AA.com, A.mericanA.irlines ,and A.mericanA.irlines airport and city ticket counters). Products or services that do not qualify are car rentals, hotel reservations, A.mericanA.irlines Vacations packages, purchase of elite status boost or renewal, duty free purchases and AA CargoSM products and services. Statement credits will appear on the monthly billing statement from Citi.

Credit Deals

http://www.fatwallet.com/forums/finance/1479488/ Tue, 09 Feb 2016 08:10:07 -0600
<![CDATA[Issues with a contractor]]> http://www.fatwallet.com/forums/finance/1479487/ Rating: 1 Posted By: ZDog377
Views: 3179 Replies: 48

I had an issue with a contractor building a simple 12 x 12 shed for me. I found his services through a Craigslist ad that I posted. We agree on a price of $600 to build the shell of the shed, put the sheeting on and tar paper the roof. Fast forward to a few weekends ago and he is here. He tells me he is planning on finishing up today and asks if he can get at least $200 in cash so he can pay his worker and the rest in whatever form I want. We were getting ready to leave for a basketball tournament so I asked him if I could check the finished product when I got home and send him a check for the balance. He asked for an additional $75 to the total because I was having him build the door as well. He replies that it isn't a problem and he can text me his address. Later on that night, we get home and the shed looks about the same as when we left.

I sent him a text asking what happened. He says that his worker (father-in-law) got a little spooked after I mentioned sending a check and they thought they were going to get shafted. He promises to come back later that week and I promise to pay him in full when he is done with a check. I am out of town for work, he comes and is by himself because the worker shafted him. He needs a little more felt paper for the roof and to finish the door. My wife gives him the check for the balance and he leaves his tools as a good will gesture to prove he is coming back. I have yet to see him back. Text messages to him result in reasons why he is not coming. I finally had a friend help me build the doors and finish the felt paper on the roof. Last week I finally sent him a text message letting him know this and asked for a refund of the $75 that I was charged to build the door. I told him to bring $75 cash when he comes back to pick up his tools and to please contact me when he is coming so I do not have to put my wife in the middle again.

My question is this: how long do I have to hold onto his tools before I can take them and sell them? Also, do I have to let him know if I do sell them?

SUMMARY: Contractor did not complete work as agreed upon. Was paid in full but left his tools here. How long until I can sell them to recover what I "overpaid"?

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479487/ Tue, 09 Feb 2016 08:08:56 -0600
<![CDATA[Loan FROM a minor]]> http://www.fatwallet.com/forums/finance/1479486/ Rating: -2 Posted By: ssgcinty
Views: 2073 Replies: 56

I am going to gift some money to my son who is a minor.
He is going to give a loan to someone at 1.5%.
Is a minor allowed to enter a contract giving out a loan? I have a template document for a loan contract. Can I use the same document?
Or do I have to sign the contract on his behalf?
All my googling turns up information on how a minor can get a loan. I am looking for how a minor can GIVE a loan.

(Let's not get into the merits of giving out loans or if the interest rate is good or bad etc.)
Edit:He is 14 and we are in Illinois.

General Economics Deals

http://www.fatwallet.com/forums/finance/1479486/ Tue, 09 Feb 2016 08:08:26 -0600
<![CDATA[Does anyone here has Alon USA Partners, LP (ALDW)?]]> http://www.fatwallet.com/forums/finance/1479464/ Rating: 0 Posted By: confused200
Views: 733 Replies: 0

Does anyone know what % of the distributions is UBTI? [Their Investor Relations told me 100%. She keeps saying it is 100% taxable which is not my question.]


Investing Deals

http://www.fatwallet.com/forums/finance/1479464/ Tue, 09 Feb 2016 03:41:58 -0600
<![CDATA[Plastiq.com paid my mortgage late... recourse?]]> http://www.fatwallet.com/forums/finance/1479446/ Rating: 1 Posted By: angelaira
Views: 2932 Replies: 50

I just got an e-mail from plastiq.com stating that they did not send my mortgage payment on time this month. I pay it every month through them. They collected the money and they charged my card, and they charged me their $30 fee, but they did not mail out my mortgage payment until 7 days later. They gave no indication as to how they sent it, they did not state that it would be expedited, and I am wondering if anyone else does this and if they are having the same issue? Do I contact my mortgage company with their e-mail?

Real Estate Deals

http://www.fatwallet.com/forums/finance/1479446/ Mon, 08 Feb 2016 19:23:07 -0600
<![CDATA[Simplest way to find out if the place I'm renting just got auctioned off?]]> http://www.fatwallet.com/forums/finance/1479445/ Rating: 0 Posted By: Gauss44
Views: 1333 Replies: 18

Other than asking the landlord, does anyone know if there is a free online database where I could see if the apartment that I am renting just got auctioned off? If not, what is a reasonably simple way to find out?

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479445/ Mon, 08 Feb 2016 19:15:15 -0600
<![CDATA[First we bait, then we switch: UFB Direct Savings 1.20% APY]]> http://www.fatwallet.com/forums/finance/1479408/ Rating: 0 Posted By: KingPeter
Views: 1663 Replies: 15

UFB Direct is now paying 1.20% for Savings Accounts above $25,000

Visit www.ufbdirect.comto apply now; this won't last long!

Deal Deals

http://www.fatwallet.com/forums/finance/1479408/ Mon, 08 Feb 2016 15:19:18 -0600
<![CDATA[1099 Misc Tax Question on Property Damage Settlement]]> http://www.fatwallet.com/forums/finance/1479404/ Rating: 3 Posted By: BklynJim
Views: 1920 Replies: 21

Hey guys,
Looking for some advice. We rented out our house 2 years ago for a TV shoot. The company damaged a bunch of small items (lamps, art work, rugs, etc.) and we reached a settlement in January 2015 for a lump sum payment to settle all of the damages. The company sent us a 1099-Misc listing the settlement amount in Box 1 under Rents. I don't think I should receive a 1099 at all, as this is for a reimbursement of damaged items and not income from the rental. The company says "it's a 1099able payment, and you can work the issue out with your tax accountant. I don't have a tax accountant, so I'm looking for advice here. Am I right that this money should not to treated as income? If so, how should I proceed? My thought is to send them a certified letter asking them to retract the 1099 and then attach a note with my Tax Return. I searched the IRS site and found this in Publication 4345 (Rev. 4-2015), which states Property settlements for loss in value of property that are less than the adjusted basis of your property are not taxable and generally do not need to be reported on your tax return. However, you must reduce your basis in the property by the amount of the settlement. Thanks for the help.

Personal Finance Deals

http://www.fatwallet.com/forums/finance/1479404/ Mon, 08 Feb 2016 15:15:02 -0600
<![CDATA[Paying off one of my 401k Loans. Dow Jones lower than when it was higher]]> http://www.fatwallet.com/forums/finance/1479392/ Rating: 0 Posted By: CaliforniaDriver
Views: 1109 Replies: 8

Hey guys,

I took out 2 401k loans in 2014: 2/28/14 for $16,000. Dow Jones was at: 16321.71.
the second loan was on 6/12/2014 for $11,8000. Dow Jones was at: 16734.19

Now since the Dow Jones is lower, would it be a good time to pay these off? I have the funds readily available and thought it would be a good time to pay off these loans. With the market at around 15,800, I thought this would be a good time. I almost paid it back in January 1st but kind of glad I didnt. I know its impossible to time the market but in a way I feel like I sold high and buying low (subjective as of today since we dont know how much lower it will go before going back above 16,xxx). The only thing I lost was the interest that I had to pay extra while I had the loan out which got deposited into my account anyways.

Thanks for the help.

Discussion Deals

http://www.fatwallet.com/forums/finance/1479392/ Mon, 08 Feb 2016 13:59:51 -0600
<![CDATA[Santander extra20 checking ACH pull?]]> http://www.fatwallet.com/forums/finance/1479384/ Rating: 0 Posted By: hulof
Views: 786 Replies: 0

Does anyone know if it is possible to initiate an ACH pull from a Santander extra20 checking account? When I go to Transfers, it looks like I can only push money out, but it's kinda weird that they wouldn't provide a way to pull money into the account...

Question Deals

http://www.fatwallet.com/forums/finance/1479384/ Mon, 08 Feb 2016 13:05:40 -0600
<![CDATA[Obama to propose $10-a-barrel oil tax]]> http://www.fatwallet.com/forums/finance/1479379/ Rating: 2 Posted By: tuphat
Views: 4590 Replies: 104

From Politico --

President Barack Obama is about to unveil an ambitious plan for a 21st century clean transportation system. And he hopes to fund it with a tax on oil.

Obama aides told POLITICO that when he releases his final budget request next week, the president will propose more than $300 billion worth of investments over the next decade in mass transit, high-speed rail, self-driving cars, and other transportation approaches designed to reduce carbon emissions and congestion. To pay for it all,
Update (2/9/2016) -- Proposal announced today. Actual proposal is $10.25 per bbl.

Obama will call for a $10 fee on every barrel of oil, a surcharge that would be paid by oil companies but would presumably be passed along to consumers.

There is no real chance that the Republican-controlled Congress will embrace Obamas grand vision of climate-friendly mobility in an election yearespecially after passing a long-stalled bipartisan highway bill just last yearand his aides acknowledge its mostly an effort to jump-start a conversation about the future of transportation. But by raising the specter of new taxes on fossil fuels, it could create a political quandary for Democrats. The fee could add as much as 25 cents a gallon to the cost of gasoline, and even with petroleum prices at historic lows, the proposal could be particularly awkward for Hillary Clinton, who has embraced most of Obamas policies but has also vowed to oppose any tax hikes on families earning less than $250,000 a year.

Read more: http://www.politico.com/agenda/story/2016/02/obama-oil-tax-budge...

Discussion Deals

http://www.fatwallet.com/forums/finance/1479379/ Mon, 08 Feb 2016 12:39:21 -0600
<![CDATA[Tenant backed out of taking rental house. Would you keep the holding deposit?]]> http://www.fatwallet.com/forums/finance/1479376/ Rating: 0 Posted By: king0fSpades
Views: 2287 Replies: 51

Tenant after giving me a holding deposit for a property, backed out. They did let me know after 2 days. I relisted it and someone else took it. It took me 5 days to find a new tenant. Also the new tenant wanted to rent a few days later.I can keep the whole $350, however I am thinking of offering half refund. What do you think?

Question Deals

http://www.fatwallet.com/forums/finance/1479376/ Mon, 08 Feb 2016 11:54:32 -0600
<![CDATA[Need Business Checking with No Foreign Fees! Help]]> http://www.fatwallet.com/forums/finance/1479373/ Rating: 0 Posted By: D779W
Views: 840 Replies: 6

Hi All,

I'm in the process of converting my hobby into a small business. I purchase a lot of merchandise from Japan and it is charged In Yen. Currently I use my personal CapitalOne Quicksilver card which has been awesome for it. But I am opening the business as an LLC so I need to avoid mixing my personal accounts with the business accounts.

Since I am not likely to get approved for a CapitalOne business card right away I am looking at banks that have checking accounts / debit cards with no currency conversion or foreign transaction fees. I looked into Charles Schwab but from what I understand that can't do a business account

Can anyone recommend a banking solution here so I don't get screwed on fees?

Discussion Deals

http://www.fatwallet.com/forums/finance/1479373/ Mon, 08 Feb 2016 11:24:17 -0600
<![CDATA[Where is my tax refund - Letter 4464C]]> http://www.fatwallet.com/forums/finance/1479364/ Rating: 0 Posted By: njain
Views: 1292 Replies: 13

I filed form 1040EZ in March 2015 for my son and was expecting refund. However instead got this letter 4464C in May 2015 that the refund will be processed in 60 days. I have not heard from IRS since then.

I have tried calling IRS on the number without luck to speak to anyone in person.

Anyone else who ran into this issue.

How to resolve it?


Tax Deals

http://www.fatwallet.com/forums/finance/1479364/ Mon, 08 Feb 2016 10:23:01 -0600
<![CDATA[Deduct capital gain from capital loss - Different asset types]]> http://www.fatwallet.com/forums/finance/1479320/ Rating: 0 Posted By: LagerChamp
Views: 1060 Replies: 3

I have a large capital loss from stocks I have been carrying over from year to year for many years. I deduct 3K per year from my ordinary income, but there is still lots of money in losses waiting to be deducted.

Two years ago, I bought an internet domain for business use for a few hundred dollars and recorded it as a capital asset for that year. This year, I received a very large cash offer for it from a domain investor. If I decide to sell, will having recorded it as a capital asset save me from paying taxes on the realized gain? Can losses in one asset type offset gains from another asset type?

Furthermore, will it be a problem that the domain was purchased for my sole proprietorship while the stocks were personal?

Investing Deals

http://www.fatwallet.com/forums/finance/1479320/ Sun, 07 Feb 2016 18:37:43 -0600
<![CDATA[Free File: Free Software Options If Your Adjusted Gross Income Was $62,000 or Less]]> http://www.fatwallet.com/forums/finance/1479307/ Rating: 9 Posted By: FutureDilemma
Views: 1974 Replies: 8


This has been an option in previous years as well. However, I seem to remember that the AGI limit was much lower. AGI limit of $62k is much more generous and many more people will qualify. Also, a state return may be free as well for some people. With this option, you will be using commercial software which typically uses an interview process. I see H&R Block as one of the options and it seems they will provide a free state return as well. (Not clear if free state e-file is included - may have to print and mail instead.)

Please note that this option is different from Free Fillable Forms where you fill out the forms directly yourself. That option is discussed here: http://www.fatwallet.com/forums/finance/1478412/

A third option is tax preparation help by volunteers for those who generally make $54,000 or less, persons with disabilities, the elderly and limited English speaking taxpayers. This is an in person option: https://www.irs.gov/Individuals/Free-Tax-Return-Preparation-for-You-by-Volunteers

Tax Deals

http://www.fatwallet.com/forums/finance/1479307/ Sun, 07 Feb 2016 16:16:19 -0600
<![CDATA[pay off mortgage or put in the market?]]> http://www.fatwallet.com/forums/finance/1479287/ Rating: 0 Posted By: vanrigt
Views: 1482 Replies: 9

I am in my early 30's and am fortunate enough to have enough money in my checking account to pay off my mortgage. I have it sitting in an account earning nearly 0% while paying a 3.15% 5 year arm on much more. I did wait because I was expecting for the market to sell off, and I think it will continue, but in the mean time I'm losing thousands of dollars a month on the interest while it sits in my account. I have been told by some people to never pay off a loan with such a low interest as a play on interest rates but it seems wasteful. Also I'm in a very high risk job where I could lose my job at any second, however the rewards are high. Opinions?

Real Estate Deals

http://www.fatwallet.com/forums/finance/1479287/ Sun, 07 Feb 2016 11:46:54 -0600
<![CDATA[Investment question - deferred comp]]> http://www.fatwallet.com/forums/finance/1479278/ Rating: -1 Posted By: scottninja88
Views: 1028 Replies: 1

Hi. I am new to the forum hoping to get some advice. I have a mutual fund that is part of deferred compensation that vests in June. I get a check cut in June whether I want it or not! So far over the past 2 months I have lost about $10k. Should I move everything in the fund to something like a bond or similar that won't potentiality lose so much money? I know that should things turn around I would potentially miss out on it growing again, but with such a short time period before I get the funds, I would hate to lose even more between now and then. Appreciate any advice.

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http://www.fatwallet.com/forums/finance/1479278/ Sun, 07 Feb 2016 09:29:50 -0600
<![CDATA[Credit Card Fraud Destroy my Credit]]> http://www.fatwallet.com/forums/finance/1479219/ Rating: -1 Posted By: IwantItCheaper
Views: 1922 Replies: 19

My old credit card that I have not used for 8-10 years suddenly has a charge 3-4 months ago ($15 - Now $76). I only started checking my credit report today and found out that they sent late payment record to credit bureau. I called the credit card company and I was told that they will investigate it. My credit score spirals down from close to 800 to 730.
How is any charge even possible? Any credit card would have expired by then, and I have not activated any new credit card. No balance on the credit card for the pas 8-10 years.
Will my credit be back if this is taken care of. What should I do at this point?

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http://www.fatwallet.com/forums/finance/1479219/ Sat, 06 Feb 2016 15:45:08 -0600