Search found 91 matches

by knightrider
Fri Aug 18, 2017 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: NYC real estate question
Replies: 17
Views: 1430

Re: NYC real estate question

Curious what kind of job pays someone in their early 30's 350k/year! As to your question, I disagree with those who say keep your money in stock market. Stock market is not guaranteed return. If it were, everyone would be putting money in it .. Diversify is key, and home ownership is a good way of d...
by knightrider
Mon Aug 14, 2017 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: When to report 1031 exchange?
Replies: 11
Views: 580

Re: When to report 1031 exchange?

If I understand correctly, I can use the money towards my new home purchase. What about all the depreciation I took on the old house while it was a rental? Do I just pay capital gains on that somehow?
by knightrider
Mon Aug 14, 2017 11:44 am
Forum: Personal Finance (Not Investing)
Topic: When to report 1031 exchange?
Replies: 11
Views: 580

Re: When to report 1031 exchange?

where you depreciating your house? if you had not tax wise structured it as arental and had bought as primary i would claim personal exemption and move on especially if the new house is mostly primary residence. oh i forgot--is the new house rental? a 1031 must be used for "like" property. if selli...
by knightrider
Mon Aug 14, 2017 8:03 am
Forum: Personal Finance (Not Investing)
Topic: When to report 1031 exchange?
Replies: 11
Views: 580

Re: When to report 1031 exchange?

pshonore wrote: ↑
Mon Aug 14, 2017 7:58 am
Is this a rental property? If it was strictly used as your personal residence, its not a 1031 exchange.
Forgot to include that detail. Yes it was part rental ( rented rooms out ) and part lived in exclusively ( for last two years ).
by knightrider
Mon Aug 14, 2017 7:44 am
Forum: Personal Finance (Not Investing)
Topic: When to report 1031 exchange?
Replies: 11
Views: 580

When to report 1031 exchange?

I sold my home in June/2017. I lived in it for last two years, but rented rooms out before then. It sold for 235k and I bought it for 141k four years ago. I now put the proceeds into a new home that costs 515k. Do I file the 1031 exchange now or next year before April 15'th?
by knightrider
Thu Aug 10, 2017 9:57 am
Forum: Personal Consumer Issues
Topic: Advice on picking a dentist
Replies: 19
Views: 1597

Advice on picking a dentist

I've moved to a new city and am confused how to find a dentist. I just want a basic cleaning. I do not want to fill out pages of medical forms and have bunch of xrays taken on this initial visit. Will dentists laugh at me when I request this? Alternately, I read that one should make a "consultation ...
by knightrider
Wed Aug 09, 2017 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Home Office/Commute Tax write off question
Replies: 5
Views: 773

Re: Home Office/Commute Tax write off question

The home office deduction is a classic example of what's wrong with the IRS. They make the rules so complex that you have to pay a professional $500 to tell you whether you are eligible for deductions that will save you $100! In fact, the Onion satirized this here: https://twitter.com/theonion/statu...
by knightrider
Fri Aug 04, 2017 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Commuter Tax benefits for non-work public transit trips?
Replies: 10
Views: 714

Commuter Tax benefits for non-work public transit trips?

My company offers "Commuter tax benefits" according to IRS Tax Code 132(f). I want to use these benefits to pay for public-transit farecards which I will use for non-work trips. According to IRS Tax Code 132(f), this still qualifies because of (B) it says: f) Qualified transportation fringe (1) For ...
by knightrider
Thu Aug 03, 2017 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Any website to get paid carpooling?
Replies: 12
Views: 965

Re: Any website to get paid carpooling?

Derivative wrote: Where do you go on craigslist? I can't seem to find the carpooling section
I think there is a ride share section.
by knightrider
Thu Aug 03, 2017 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Any website to get paid carpooling?
Replies: 12
Views: 965

Re: Any website to get paid carpooling?

Good luck. From my experience, no one is interested in carpooling, much less paying for it. I live near NY metro area and commute to Hartford, CT ( 95 miles away ). I have tried local carpooling sites, carpoolworld.com and craigslist. In two months I only was able to give a ride to one person, one w...
by knightrider
Sat Jul 29, 2017 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: 1031 Exchange
Replies: 20
Views: 1181

Re: 1031 Exchange

Buy house for 100k, Own for 10 years, live in for last 8 years (since you said 2 rental) sale for 200k. Capital gains is 100k of which 1/5 was in rental service so you owe taxes on 20k, plus depreciation which would be fairly low since of course the land is separate value. Are you sure you have to ...
by knightrider
Thu Jul 27, 2017 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Rental Property - Best Legal Structure?
Replies: 23
Views: 1895

Re: Rental Property - Best Legal Structure?

For just one house I can't see why you need any LLC. I think Americans watch too much TV and think everyone gets sued on a daily basis. Also what applies for multi-million dollar businesses does not make sense for personal businesses. Focus on getting quality tenants and you won't have to worry abou...
by knightrider
Wed Jul 26, 2017 9:16 am
Forum: Investing - Theory, News & General
Topic: Are bitcoins nonsense?
Replies: 73
Views: 4451

Re: Are bitcoins nonsense?

While it is certainly not as anonymous as cash (assuming folks using either alternative know what they are doing), it can serve some valuable purposes - facilitate fast payments across national borders (with very low costs) 365 days per year 24 hours/day, I question the "very low costs" c...
by knightrider
Wed Jul 26, 2017 8:47 am
Forum: Investing - Theory, News & General
Topic: Are bitcoins nonsense?
Replies: 73
Views: 4451

Re: Are bitcoins nonsense?

It may be cybercurrencies are going after the seigneurage pool. The potential they offer is to cut into the transaction costs (and the underlying error prone and expensive back office processes) that financial intermediaries charge. The irony is that it takes Phds in Computer Science along-with com...
by knightrider
Wed Jul 26, 2017 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Do people really buy foreclosures unseen?
Replies: 21
Views: 2387

Re: Do people really buy foreclosures unseen?

I work with a number of investors and we avoid these properties like the plague. Often the bank wants to hand off their problems to an investor and let them try to evict the occupants. Sure, they can be good deals when everything goes smoothly but, I have also read about evictions that took 5 years...
by knightrider
Tue Jul 25, 2017 10:09 pm
Forum: Investing - Theory, News & General
Topic: Are bitcoins nonsense?
Replies: 73
Views: 4451

Are bitcoins nonsense?

I don't invest in bitcoins because of these two adages I follow: 1) I don't invest in what I don't understand 2) Complex investments generally only benefit those making the rules Some people say bitcoins are not complex. I have a Masters in engineering and I can't understand them. Plus how much of t...
by knightrider
Tue Jul 25, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Do people really buy foreclosures unseen?
Replies: 21
Views: 2387

Re: Do people really buy foreclosures unseen?

The lender is likely in the process of evicting the tenants. It is a highly adversarial situation. They may be the former owners or tenants that didn't know about the foreclosure. There's nothing illegal about knocking on the door or leaving a note but be pleasantly surprised if you get cooperation...
by knightrider
Tue Jul 25, 2017 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Do people really buy foreclosures unseen?
Replies: 21
Views: 2387

Do people really buy foreclosures unseen?

On any foreclosure listing it says: NO VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Surely there must be some way of viewing the p...
by knightrider
Fri Jul 07, 2017 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Landlord/Rent question
Replies: 21
Views: 1844

Re: Landlord/Rent question

No need to see a lawyer a quick read of their states laws online should ans the question. I read the WACs regularly regarding issues like this. Most states are easily searched. Mine has no int requirements My point was you should pay interest no matter what your state law says. That is simply the r...
by knightrider
Fri Jul 07, 2017 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Landlord/Rent question
Replies: 21
Views: 1844

Re: Landlord/Rent question

Uh, yes. "consult the local law". in our jurisdiction, if the money is *not* put in a separate savings account, the penalties can be substantial. Not worth it at all, in our opinion. It's so simple to open a separate account. The "idea" is to comply with the relevant laws. Openi...
by knightrider
Fri Jul 07, 2017 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Landlord/Rent question
Replies: 21
Views: 1844

Re: Landlord/Rent question

It is interesting to see all the people responding with "consult the local law" instead of just answering the OP's question. It is very simple. You put their money in some savings account and pay them the interest back after the lease is up. Interest rates are so low that this amounts to b...
by knightrider
Wed Jun 28, 2017 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Middle age job blues
Replies: 86
Views: 8807

Re: Middle age job blues

queso wrote:I ssh into the server and kick off the script that runs the TPS reports. (lol...sorry, this one had me rolling)

-- another old IT guy (43)


haha, me too! I spend 70% of my day looking at putty.
by knightrider
Tue Jun 27, 2017 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Need help to sell family farm.
Replies: 19
Views: 1853

Re: Problems with sale of property. Please help.

I am not sure how it was appraised, but be prepared for a big shock when you find nobody wants to buy your business for anything close to $1m. From my experience, people don't want to buy a job, which is what a business is. Your inventory might be worth something. Just my two cents. I have seen far ...
by knightrider
Tue Jun 27, 2017 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Middle age job blues
Replies: 86
Views: 8807

Re: Middle age job blues

Work on updating your skills. Check out sites like upwork.com where you can pay folks in India/Russia to teach you new complex IT skills. Hire them to help you build your own portfolio to showcase to potential employers.
by knightrider
Mon Jun 26, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Started a new job - Need advice on health insurance
Replies: 19
Views: 1211

Re: Started a new job - Need advice on health insurance

I have narrowed it down to the CIGNA HSA or Bluecard HSA. Here's the problem. With CIGNA I can't search the doctors without registering on the website. See:

https://www.cigna.com/hcpdirectory/

With Bluecard, I can do it easily from:

http://provider.bcbs.com/

Why on earth does Cigna not make it easy?! Am I doing something wrong?
by knightrider
Thu Jun 15, 2017 11:01 am
Forum: Personal Finance (Not Investing)
Topic: How many of you have rentals (i.e. you're a landlord)? Are they worth it?
Replies: 74
Views: 5643

Re: How many of you have rentals (i.e. you're a landlord)? Are they worth it?

Really follow your gut about potential tenants. If they aggrivate you or you feel uneasy in any way during the selection process, they will agitate you even more as a tenant. +1. That's why I don't like using agents . They reduce everyone to black and white numbers. The face-face gut element is com...
by knightrider
Thu Jun 15, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Started a new job - Need advice on health insurance
Replies: 19
Views: 1211

Re: Started a new job - Need advice on health insurance

simplesimon wrote:What's your tax rate? How much can you contribute to your HSA plan per year?


Our household income is around 260k/year.
by knightrider
Thu Jun 15, 2017 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Started a new job - Need advice on health insurance
Replies: 19
Views: 1211

Re: Started a new job - Need advice on health insurance

WIth that info, you can evaluate what would the total cost to you be given: a. Only using annual physicals and any other planned "routine" medical care? b. If one of the three of you had significant medical costs in a given year (kid breaks arm falling etc)? c. Significant medical costs c...
by knightrider
Thu Jun 15, 2017 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Started a new job - Need advice on health insurance
Replies: 19
Views: 1211

Re: Started a new job - Need advice on health insurance

I would suggest some further research. The HSA plans are usually linked to high deductible plans, great for "invincible" singles but a family with a small child I would look further into it. Read the Summary Plan descriptions, any tools that compare plans and ask around the other employee...
by knightrider
Thu Jun 15, 2017 8:23 am
Forum: Personal Finance (Not Investing)
Topic: How many of you have rentals (i.e. you're a landlord)? Are they worth it?
Replies: 74
Views: 5643

Re: How many of you have rentals (i.e. you're a landlord)? Are they worth it?

It can be worth it under the following conditions: Buy with cash so no mortgage interest expense Do most minor maintenance yourself Live within walking distance to your rental so you can do showings easily Once you start having to pay people to manage your property you can say goodbye to all your me...
by knightrider
Tue Jun 13, 2017 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: Started a new job - Need advice on health insurance
Replies: 19
Views: 1211

Started a new job - Need advice on health insurance

Below is a screenshot of my health insurance options. It would be for me, my wife and 1-year old. The prices shown are for me only, but increase proportionally with the extra family members. I am leaning towards Bluecard HSA Medical PPO Plan. But I really have minimal understanding if that is the be...
by knightrider
Fri Jun 02, 2017 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: How to reject tenants for subjective reasons?
Replies: 18
Views: 2742

Re: How to reject tenants for subjective reasons?

Well, the problem with your subjective criteria is that it might be a pretext for underlying, improper motivating factors that might be illegal under the local landlord-tenant laws or national fair housing laws! Unless you can really articulate a valid subjective criterion for not renting to someon...
by knightrider
Fri Jun 02, 2017 8:22 pm
Forum: Personal Finance (Not Investing)
Topic: How to find a CPA freelancer for tax help?
Replies: 2
Views: 391

How to find a CPA freelancer for tax help?

I've used sites like upwork.com to find freelancer coders. Is there some similar site to find a CPA who can help me "virtually". This year I've sold two properties so I need help figuring out how to do all the tax forms for them. I was thinking I could email them all my numbers and they ca...
by knightrider
Fri Jun 02, 2017 7:59 pm
Forum: Personal Consumer Issues
Topic: Dyson Cordless Vacuums??
Replies: 11
Views: 1378

Re: Dyson Cordless Vacuums??

I've bought three of these and they are great:

https://www.amazon.com/Eureka-Quick-up- ... ess+vacuum

I am not sure if Eureka has discontinued it?
by knightrider
Fri Jun 02, 2017 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: How to reject tenants for subjective reasons?
Replies: 18
Views: 2742

How to reject tenants for subjective reasons?

I've been a landlord for 15 years managing a few rental condos. I have always picked professionals with 720+ credit score and income 4-5X the monthly rent. However, I go beyond this and pick people who are respectful and responsible. Usually high credit score means highly responsible. But it is not ...
by knightrider
Thu Jun 01, 2017 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: What realtor commission for selling a 120k condo?
Replies: 2
Views: 713

What realtor commission for selling a 120k condo?

I am looking to sell my 1BR condo for 120k. Should I do standard 6% commission split evenly between seller and my agent? I think my agent would agree to 5% but am I just being penny wise and pound foolish? Also can I expect professional pictures? I've sold condos in this price range and for some rea...
by knightrider
Mon May 22, 2017 11:37 am
Forum: Personal Finance (Not Investing)
Topic: How long to keep paperwork from home sales?
Replies: 2
Views: 589

How long to keep paperwork from home sales?

I've sold several rental properties over the past ten years. Can I discard all the paperwork I've accumulated for these properties? I suppose if there is some problem with the title, the title insurance will clear that up?
by knightrider
Thu May 04, 2017 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 2460

Re: Starting new job mid-career - What advice to learn from my past?

<< Just because someone is a customer, it doesn't mean I have to send the army to fix their issue..>> But, you could at least be helpful and do what you can to help them. But, you choose to "do nothing" even though you are free. I am not "doing nothing" to help them. For example...
by knightrider
Thu May 04, 2017 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 2460

Re: Starting new job mid-career - What advice to learn from my past?

knightrider, You are not helping them. It is your job. It is not a "nice-to-have". It is your duty. I guess I don't see it as my duty to reward incompetence. As the saying goes, "Not all money is good money". Just because someone is a customer, it doesn't mean I have to send the...
by knightrider
Thu May 04, 2017 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 2460

Re: Starting new job mid-career - What advice to learn from my past?

<< Why should I make an exception to my "no hand-holding" policy for these few folks? >> You have free time and you are "doing nothing". But, you are not willing to help your paying customers? << Problem is ~10-20% of users expected me to walk them through every step in the guid...
by knightrider
Thu May 04, 2017 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 2460

Re: Starting new job mid-career - What advice to learn from my past?

You also need to accept the fact that some people are not competent and may never become competent but that you still have to deal with them in a positive manner for the benefit of the organization. I guess this is where I struggle. If someone is incompetent and aggressive, I just shut down. I drag...
by knightrider
Thu May 04, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 2460

Re: Starting new job mid-career - What advice to learn from my past?

Unless I missed it, what are the duties in your new job? How will they differ from your old job, especially in the area of support work? New job will be very similar to old job but in a big city. Also the number of users I will be supporting will be much less. So I am hoping the environment is more...
by knightrider
Thu May 04, 2017 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 2460

Re: Starting new job mid-career - What advice to learn from my past?

Based on your post I would recommend trying to connect with at least some of your coworkers. Every has a rough day now and then and it is nice to have someone to talk to that understands the struggle and vice versa. Certainly a good tip. But engineers are not good at "connecting" with oth...
by knightrider
Thu May 04, 2017 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 2460

Re: Starting new job mid-career - What advice to learn from my past?

A big part of that job was telling people "no" and setting limits, but I always made every effort to be as helpful as possible so that I didn't have to tell people "no" in the first place, to try to align things so that I could say yes. I'd be curious to learn how you did this w...
by knightrider
Thu May 04, 2017 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Starting new job mid-career - What advice to learn from my past?
Replies: 39
Views: 2460

Starting new job mid-career - What advice to learn from my past?

I got laid off after spending 16 years as an engineer at a Fortune 100 company in a 200k population city. I was never into leadership, so remained an "individual contributor". My job career was unique in that for many years I hardly had enough work to do. It was a combination of laid back ...
by knightrider
Tue May 02, 2017 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Is 401k loan really a bad idea?
Replies: 57
Views: 3790

Is 401k loan really a bad idea?

Some websites say 401k loan is bad because you are paying it back with after-tax dollars. But no matter what loan I get, I have to pay it back with after-tax dollars. So I am not understanding if this is a real issue or not? I am looking to borrow 50k from my 401 which has around 500k in it. It woul...
by knightrider
Tue Apr 25, 2017 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Are relocation expenses deductible if given lump sum from company?
Replies: 10
Views: 923

Re: Are relocation expenses deductible if given lump sum from company?

Thanks for the replies. The 22k lump sum is after tax. So the actual amount is 35k, but after taxes 22k is sent to my checking account. If I understand correctly, I can still deduct all my out of pocket relocation expenses from this 35k? "All" is way too broad a statement. There are very ...
by knightrider
Tue Apr 25, 2017 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Are relocation expenses deductible if given lump sum from company?
Replies: 10
Views: 923

Re: Are relocation expenses deductible if given lump sum from company?

Thanks for the replies. The 22k lump sum is after tax. So the actual amount is 35k, but after taxes 22k is sent to my checking account. If I understand correctly, I can still deduct all my out of pocket relocation expenses from this 35k? You really need to read the IRS rules and understand them. Th...
by knightrider
Mon Apr 24, 2017 10:34 pm
Forum: Personal Finance (Not Investing)
Topic: Are relocation expenses deductible if given lump sum from company?
Replies: 10
Views: 923

Re: Are relocation expenses deductible if given lump sum from company?

Thanks for the replies. The 22k lump sum is after tax. So the actual amount is 35k, but after taxes 22k is sent to my checking account. If I understand correctly, I can still deduct all my out of pocket relocation expenses from this 35k?