I am an expert at 3D printing, but it’s not what I do for a living. I was at the library the other day, making copies for my own business. That part doesn’t really matter. What matters is that I noticed that the library had a little 3d printing lab, with one shitty 3d printer. I have 4 printers. I want to donate a good one. If I donate it, is it a write off/ exemption. Or is it a credit. What I mean is does the value of the machine that I’m donating count for its value or should I sell it on Craigslist?
Layoff with Exit Package or Keep Job with a Pay cut?
Have the option for an exit package with 1 year salary payout with health insurance vs keeping the job with a 20% pay cut. Project is being moved to sister company.
Only caveat is that the job with the paycut is with a sister company (think going from Chevrolet to Cadillac Engineering position) so exit package would not not apply if job taken!
I’m leaning towards accepting the exit pkg and venture into the Wild!!. Bad move in this economy? What to do you guys think!!??
What does SVB mean for my Vanguard-managed 401k (if anything)?
I’ve read a lot about this but I don’t think I know enough about finances to really digest what I’m reading lol. I think I understand that Vanguard was a prominent shareholder and those shares are kinda just… gone now, but I don’t know how much of my retirement, if any, depended on SVB.
I also don’t know how to find that out, so here I am, at your mercy
Got a new job but getting out of lease is going to cost me more than I can afford
I (23 Colorado) recently got a new job in a different state I have to move across the country and tried negotiating relocation money to no avail from my new employer. It’s going to cost me 1600 dollars to move all my things, plus a security deposit and a 1100 rent for my new apartment. I can currently pay for all that between my savings, bonds and last couple of paychecks from my current job. The problem lies in that my landlord will not budge on my breaking my lease, I will owe two months rent plus however long it takes him to rent the apartment out to someone new, I cannot sublet as I need his approval to do so and he has already said no. I have no clue what to do, I have no legal way out of my lease and 3500 dollars in CC debt that I don’t have a high enough limit to cover these expenses. My parents have less money than I do and will help with what they can but they cannot afford to help that much. I have no clue where to go from here and need advice.
Edit: my new job pays me about 10k more than I was making working 2 pt jobs and freelancing, it’s still only like 42k a year however
Edit 2: my lease is up in November
Question about capital gains taxes
Hi everyone. I am new to investing and have a quick question about taxes.
Let’s say I bought a stock at $50 and sold it in the future at $150. So I gained $100 in profit.
Now I use that $150 to buy a new stock and it goes down to $25 and I sell it. Now overall I lost 25 dollars from the start.
In this scenario do I still need to pay capital gains tax on that initial $100 profit I made? If yes is it possible to pay capital gains tax immediately after selling a stock? Or do I need to wait until I file my yearly taxes?
Student tax question: Form 8615 and parent’s tax return
I am a full time student and thankfully I got scholarships and grants that gave me more money than what I needed for tuition and books. I put in the extra money that I got plus the money I got from my last job into FreeTaxUSA, but now I am getting a lot of warnings and I can’t submit my taxes.
FreeTaxUSA says I need to fill in Form 8615 and I need to put in information about my parent’s tax return. I can do Form 8615 just fine I guess, but thing is, my parent has not filed taxes since I was at least a teenager because she didn’t make enough to file. FreeTaxUSA isn’t letting me say that she didn’t file taxes.
What should I do? I didn’t need this information before when I was filing my taxes for the last two years so I’m completely lost. My parent filing her taxes isn’t an option either and I don’t have another parent that I can use their tax information for.
Need Home Buying Advice PLEASE
Hello, this is going to be a long post but I need help badly. So thanks in advance.
Me and my wife (both very frugal) (married about a year) have been renting my parents basement “apartment” for about 6 years now to save money. We pay $700 a month. It’s been great for the time we’ve been here but we are 27 now and will be looking to buy a home for ourselves probably in the next 1-2 years to start a family (2 kids in mind). We are pretty financially responsible. The problem is we live on Long Island, New York and the cost of living and housing is absurd here. I barely know anybody my age or even in their 30s that has their own place. So I’ll give our numbers, prices, and strategies I hope you can help me with. We both work in healthcare.
Combined gross yearly salary: 124.7k ($10,392 monthly)
Combined net yearly salary: 82k (payroll taxes (21.7k) health/dental/vision/life insurance (7.5k) pension contribution (5.5k) union dues (1k). Comes out to $6833 monthly.
I have a good secure union state job with a pension making 95k currently that I intend to stay for at least 20 years (therefore any home we will buy we intend to stay in for at least 20 years). 2-3% raise annually. Wife works privately per diem (about 2 days/week) and then does some other side stuff like child care for a few thousand more a year which I’m not including in this. Consider it cushion money for now. When we have kids this will be good because she can be flexible with work and we have a bunch of family here to help us watch the kids when she does work so we will not have to pay for any child care which will save a ton of money.
Current expenses are about 22.2k a year. This includes 8.4k in rent which we be gone once we buy a home. So once we are moved in our current pre-anything home related expenses would be about 13.8k. This includes all expenses (groceries, car insurance, fuel for cars, and misc. expenses). We have 0 debt and 780+ credit scores. I have a 2022 EV that i got for 24k after incentives because of a long commute (saves me a ton of money on gas and maintenance) had a 20 yr old dying car before this, and she has a 2016 that’s in good shape so we should not need cars for a long long time.
Ally HYSA: ~110k (in prep of down payment, move in expenses, furniture, appliances, repairs etc, more on this later)
Roth IRAs ~50k combined
Taxable brokerage ~44k (neither of us were eligible for 401k/403b until very recently)
Like I said, COL is crazy here. Even with prices somewhat coming down (barely). Pretty much the CHEAPEST home that’s not in a bad neighborhood and that’s not a shack, (we’re talking BASIC 3 bed, 2 bath house like 1500 sq ft that’s like 70+ years old) is 400k. For anything close to “decent” its 500k+ and still 50 years old. Keep in mind this is a house we are going to spend the next 20+ years in (probably 30+ if we’re being honest). Also we’re extreme introverts so we spend like 90% of our time at home so I really want something that’s somewhat “nice” and we can happily grow a family in.
Home price examples (based on Zillow) (30 year fixed w/ 20% down, current rates)
400k home – $2926 monthly. (P+I = $2016, Property taxes/mo = $770, Insurance/mo = $140)
450k home – $3295 monthly. (P+I = $2272, Property taxes/mo = $866, Insurance/mo = $158)
500k home – $3662 monthly. (P+I = $2524, Property taxes/mo = $962, Insurance/mo = $175)
Can we afford… any of these realistically? Even the cheapest of a 400k home comes out to 43% of our net monthly take home. The 500k home is 54%. And this is with 80k-100k down to avoid PMI too. Looking at the numbers honestly its just disheartening and I don’t know how regular people like me and my wife who compared to most people I know make decent money, still cant even afford a “normal” home.. the thought of spending $11k annually just on property taxes.. makes me wanna puke. The people I work with live in homes twice the size in great areas that they paid like 200k for 20 years ago that are now worth like 600-700k+. It’s just like.. I don’t understand how my generation is supposed to just have enough money to just pay for shelter here.. a basic human necessity.
So.. what do we do? My wife is very paranoid about having enough money for a down payment plus moving in, repairs, furnishing, etc. etc. which I understand. So the first thing she wants us to do is get to ~$125k in our HYSA. This would cover down payment (IF we did 20% (80-100k?), still don’t know about this) + all those other expenses that I’m sure add up super fast. After we got to that number we would start investing all extra money we have until we bought a home. Is this smart? Should we even use a down payment of 20%? Or do we try and get a bigger mortgage, put a smaller down payment, pay the PMI, and invest the money instead? But then again our monthly payment would be even BIGGER which it’s already enormous.. Putting 5% down on the 450k home instead of 20% brings the monthly payment to 4k.. As you can see my head is spinning trying to figure out the best way to do this. I honestly don’t know what to do. I really appreciate anyone who took the time to read this essay. I’ll take any advice to heart. Thank you.
Does anyone contribute to NY’s 529? Need investment options help please!
Hi – I have a newborn and want to start contributing to his 529. I’m a bit confused by NY’s options but want a low cost index fund and am OK with 100% stocks given the long term time horizon. Which investment options did you select and why?
Withholding more tax due to getting a second job?
I originally worked casual at a supermarket. Have just got a full-time job as an accountant and will be doing weekends still at the original supermarket.
Presuming I should withhold more tax so I don’t get a tax bill? But don’t really know how much etc, any advice? ($74,000 and $19,000 are their respective salaries)
Edit : I’m in Australia
Ally vs Alliant vs PenFed vs USAA checking
I am considering moving from a small local CU to a more established CU/bank, primarily because you have to pay for everything here, checks, debit cards, and ACH TXs take forever, and extended deposit holds. The other feature I am interested in is eBills, don’t know if it’s that good to have, but it would be handy to keep a tab and be current with my bills/credit cards. Also, free bank checks and official checks is the criteria I am looking for.
I have USAA, joined years ago as a non-military. Some time ago, they began cleaning up and kicking out for any reason non-military members. They closed 1 checking (because I rarely used it!?), but not the others. They closed my CC w/ over $15k just because. So I am a bit scared to establish with them, but I love the speed of ACH TXs.
I should add Discover, but it seems they no longer offer checking accounts. Is it accurate?
I would also add Navy Federal CU, I have a couple of accounts with them.
I am looking for a somewhat solid base checking account. Would you please recommend? Thank you.