Search found 14 matches

by boshyd
Mon Mar 05, 2018 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Checking Account with Categories
Replies: 2
Views: 206

Checking Account with Categories

Are there any accounts (checking or savings) in which we can create virtual folders and categorize and assign different amounts? Like car repairs, food, etc etc?
by boshyd
Fri Feb 16, 2018 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent care FSA - Does not align with IRS Calendar
Replies: 3
Views: 313

Re: Dependent care FSA - Does not align with IRS Calendar

Just to add more info, in 2018 we will have significant day care expenses, in case we can carry over the $2115 contribution.
by boshyd
Fri Feb 16, 2018 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent care FSA - Does not align with IRS Calendar
Replies: 3
Views: 313

Dependent care FSA - Does not align with IRS Calendar

Our FSA ran from June 2016 - May-2017 and we contributed 5K. In 2016 we contributed $2885 to FSA. We had $9000 day care expenses for 2 kids. We submitted receipts for $2885 and claimed money back from benefit provider in 2016. Tax time (2016 return) - showed $9000 in expenses, $2885 contribution to ...
by boshyd
Fri Jan 26, 2018 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Sell one year minivan or not
Replies: 11
Views: 736

Re: Sell one year minivan or not

Wife has Honda Fit. This is the only other car. Not to go off topic, but how does your wife like her Fit? I was looking into getting the 2018 EX model because I want a manual transmission and satellite radio. Yes, she wants a small car to ride into city and likes the handling. She likes it for now ...
by boshyd
Fri Jan 26, 2018 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Sell one year minivan or not
Replies: 11
Views: 736

Re: Sell one year minivan or not

Wife has Honda Fit. This is the only other car.
by boshyd
Fri Jan 26, 2018 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Sell one year minivan or not
Replies: 11
Views: 736

Sell one year minivan or not

Bought a Honda Odyssey for 34500 in Apr 2017. Was looking for good 2-3 year old deals but was not finding any. Fast forward to 2018 Jan and realized we don't need minivan as needs changed and extended family not visiting as often. I am getting an offer of 29K to sell it off. Other debts - Have a 47K...
by boshyd
Wed Apr 20, 2016 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff HELOC or 401k Loan
Replies: 4
Views: 1122

Payoff HELOC or 401k Loan

I found myself in a situation where I bought a home before selling my previous one. (A listing opened up in an area we wanted so I had to act fast. I made an offer, got accepted and then put my home on sale.) I went with a lender I knew who could close so didn't pay lot of attention to interest rate...
by boshyd
Fri Oct 09, 2015 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Implications on Rental Sale
Replies: 11
Views: 972

Re: Tax Implications on Rental Sale

OK, Thanks for the responses. So, it's Capital Gains tax and not RegularIncomeTaxRate % for that year. Thanks for clarifying this. Twins Fans, I ask because I have a rental presently and I am considering either selling it (alongwith my present primary residence to come up with more downpayment) or m...
by boshyd
Fri Oct 09, 2015 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Implications on Rental Sale
Replies: 11
Views: 972

Re: Tax Implications on Rental Sale

Thanks for the link, I will go through it although at first glance it looks like Rental -> Primary Residence situation whereas my situation is Primary-Residence -> Rental or Primary-Residence -> Rental -> Primary-Residence again.
by boshyd
Fri Oct 09, 2015 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Tax Implications on Rental Sale
Replies: 11
Views: 972

Tax Implications on Rental Sale

Hi, I am sorry if this topic has been beaten to death. Just looking for some validation. I just want to know if my understanding of tax implications after primary residence is converted to rental is correct or not: 1. Original Purchase Cost $222,000 2. FMV on Conversion date $200,000 3. Depreciation...
by boshyd
Thu Jan 31, 2013 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Negative cash flow - Sell or Improve!
Replies: 12
Views: 1763

Re: Negative cash flow - Sell or Improve!

Thanks once again for all the comments. If I use the formulas that Sulvar suggested my numbers look like this: Cash Flow: -3060 Profitability(Taking into account Depreciation): -6170 Profitability(Without taking into account depreciation): +1030 I can probably improve my profitability by $1500 or so...
by boshyd
Thu Jan 31, 2013 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Negative cash flow - Sell or Improve!
Replies: 12
Views: 1763

Re: Negative cash flow - Sell or Improve!

Hi All, Thanks for all the comments. To answer some of your questions: 1) What is your time worth? I have a day job but am free evenings and weekends, ample time to manage the rental. 2) If you sold it for a loss would you be able to claim a capital loss and deduct it on your taxes. I believe so. I ...
by boshyd
Wed Jan 30, 2013 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Negative cash flow - Sell or Improve!
Replies: 12
Views: 1763

Negative cash flow - Sell or Improve!

I am having a hard time figuring out if I should hold onto my rental property or sell it. I am what you call the accidental landlord. I converted my condo into a rental back in Oct 2011. The value at conversion was 200K. I bought the condo at 222,000 and currently owe the bank 188,000 on this. If I ...