Search found 1315 matches

by michaeljc70
Fri Apr 21, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: New version of VantageScore coming
Replies: 16
Views: 1087

Re: New version of VantageScore coming

I read that older cards can hurt your score more due to accessible credit with the new methodology. However, I didn't hear that the "age of credit" factor would be changed (which is the only reason I keep some older accounts). So is the solution to this problem scaling down the credit lim...
by michaeljc70
Fri Apr 21, 2017 9:03 am
Forum: Personal Consumer Issues
Topic: How much to pay a housekeeper?
Replies: 22
Views: 2229

Re: How much to pay a housekeeper?

Services charge more because they are usually insured, bring their own supplies and someone does the scheduling and the owner needs to make a profit. House cleaning is a low skill job, but it is worth paying a little more so they don't break anything and have a clue. I've heard many stories of clean...
by michaeljc70
Fri Apr 21, 2017 8:58 am
Forum: Personal Consumer Issues
Topic: What To Do With My Car While in NYC
Replies: 32
Views: 2656

Re: What To Do With My Car While in NYC

Sell the car. You are going to have a year of depreciation+insurance+plates+possible storage costs. You also would probably need someone to start it from time to time to avoid problems.
by michaeljc70
Thu Apr 20, 2017 9:02 pm
Forum: Personal Consumer Issues
Topic: Costco battery replacement possible after a year and half?
Replies: 11
Views: 927

Re: Costco battery replacement possible after a year and half?

Yes. They will replace it but will prorate it. So you will not get full price back. I had old 100 month warranty Battery gone bad after about 54 months. They just refunded the prorated money and I had to buy new one. Costco refused to go total of 100 months. They no longer sell those batteries. I n...
by michaeljc70
Thu Apr 20, 2017 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: New version of VantageScore coming
Replies: 16
Views: 1087

Re: New version of VantageScore coming

The whole system is incredibly broken. And as it happens precious few lenders use VantageScore in lending decisions Many credit card vendors use VantageScore. The system is "unique". A credit score doesn't really differentiate between someone that pays off monthly vs carries a balance. Pe...
by michaeljc70
Thu Apr 20, 2017 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: New version of VantageScore coming
Replies: 16
Views: 1087

Re: New version of VantageScore coming

The whole system is incredibly broken. And as it happens precious few lenders use VantageScore in lending decisions Many credit card vendors use VantageScore. The system is "unique". A credit score doesn't really differentiate between someone that pays off monthly vs carries a balance. Pe...
by michaeljc70
Thu Apr 20, 2017 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: New version of VantageScore coming
Replies: 16
Views: 1087

Re: New version of VantageScore coming

I've always thought it made no sense that replacing a 5 year old car with a $10k limit with a new card with a $10k limit would harm your credit. Credit scoring only knows what happened, not why. Replacing an old card by a new card with better terms is a neutral move. But if the old card considered ...
by michaeljc70
Thu Apr 20, 2017 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: New version of VantageScore coming
Replies: 16
Views: 1087

Re: New version of VantageScore coming

I've always thought it made no sense that replacing a 5 year old car with a $10k limit with a new card with a $10k limit would harm your credit. Credit scoring only knows what happened, not why. Replacing an old card by a new card with better terms is a neutral move. But if the old card considered ...
by michaeljc70
Thu Apr 20, 2017 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: CPA or TurboTax
Replies: 18
Views: 1338

Re: CPA or TurboTax

I used TT even when I owned a business. I do have a background in accounting. I think the important thing is you understand the key tax savers like Solo 401k, IRAs, key tax credits (child care),etc. My business was professional services, so there is no inventory or a lot of complicated accounting. Y...
by michaeljc70
Thu Apr 20, 2017 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: How to withdraw a positive credit card balance ($2600)?
Replies: 10
Views: 925

Re: How to withdraw a positive credit card balance ($2600)?

I had a few hundred $$$ balance on a Chase card due to a refund. I noticed it after a couple months and started to use that card to use the balance. In the meantime, I got a refund check in the mail. All credit card companies will send them. The timing varies, but they don't want to carry it as a li...
by michaeljc70
Thu Apr 20, 2017 6:00 pm
Forum: Personal Consumer Issues
Topic: Return Fraud at Big Box and "The Retail Equation"
Replies: 19
Views: 2297

Re: Return Fraud at Big Box and "The Retail Equation"

Did you lose points? Did the store replace them? It's small potatoes, but I can see how that can become meaningful if the practice is widespread. Since the store may benefit from the activity, I can see why they're dragging their feet. You're dealing with a big dysfunctional corporation and the &qu...
by michaeljc70
Thu Apr 20, 2017 5:56 pm
Forum: Personal Consumer Issues
Topic: Costco battery replacement possible after a year and half?
Replies: 11
Views: 927

Re: Costco battery replacement possible after a year and half?

Yes. No receipt needed. They will scan your membership and find it.
by michaeljc70
Thu Apr 20, 2017 11:16 am
Forum: Personal Consumer Issues
Topic: Return Fraud at Big Box and "The Retail Equation"
Replies: 19
Views: 2297

Re: Return Fraud at Big Box and "The Retail Equation"

HD has a new policy; if you get a store credit you must show driver's license. When using that store credit you must show the same license. Should not be a problem for honest folks but will not allow the bad guys to "sell" the store credit. I haven't experienced that yet specifically. It ...
by michaeljc70
Thu Apr 20, 2017 11:12 am
Forum: Personal Consumer Issues
Topic: Return Fraud at Big Box and "The Retail Equation"
Replies: 19
Views: 2297

Re: Return Fraud at Big Box and "The Retail Equation"

After thinking about this specific case of the OP, it was most likely someone pretending to return things. It is unlikely someone had plywood cut up and stole it and then returned it. Probably a cashier and someone in customer service working in cahoots. The cashier prints an extra receipt and gives...
by michaeljc70
Thu Apr 20, 2017 9:51 am
Forum: Personal Finance (Not Investing)
Topic: New version of VantageScore coming
Replies: 16
Views: 1087

Re: New version of VantageScore coming

I read that older cards can hurt your score more due to accessible credit with the new methodology. However, I didn't hear that the "age of credit" factor would be changed (which is the only reason I keep some older accounts). I've always thought it made no sense that replacing a 5 year ol...
by michaeljc70
Thu Apr 20, 2017 9:48 am
Forum: Personal Consumer Issues
Topic: New phone..any advantages to buying at Costco?
Replies: 24
Views: 2892

Re: New phone..any advantages to buying at Costco?

Though I shop at Costco all the time, I've never bought a phone there. I refuse to be locked into a contract and find better deals online. I especially wouldn't drive more than an hour to do so.
by michaeljc70
Thu Apr 20, 2017 9:40 am
Forum: Personal Consumer Issues
Topic: Security deposit issues upon rental move-out. Or, how do I not get ripped off?
Replies: 39
Views: 2464

Re: Security deposit issues upon rental move-out. Or, how do I not get ripped off?

Glad I no longer have to deal with this. There are always some landlords that look at the deposit as a profit maker, which isn't its intent. Unfortunately, your options are limited. Photograph everything obviously. Suing is typically not worth the trouble/hassle, but threatening to can work. If you ...
by michaeljc70
Thu Apr 20, 2017 9:31 am
Forum: Personal Consumer Issues
Topic: Return Fraud at Big Box and "The Retail Equation"
Replies: 19
Views: 2297

Re: Return Fraud at Big Box and "The Retail Equation"

iamlucky13 wrote:Correct me if I'm wrong, but wouldn't paying with a credit or debit card generally prevent this sort of thing, as most stores require purchases made on cards go back to the card?


"I no longer have that credit card, just give me a store credit".
by michaeljc70
Thu Apr 20, 2017 9:27 am
Forum: Personal Consumer Issues
Topic: Return Fraud at Big Box and "The Retail Equation"
Replies: 19
Views: 2297

Re: Return Fraud at Big Box and "The Retail Equation"

I don't think I'd be worried about identity theft. It is most likely internal theft. With your loyalty card linked to your email, there are multiple ways they could have gotten the receipt or physically not needed it at all. They picked the items off the shelf and returned them using the receipt or ...
by michaeljc70
Wed Apr 19, 2017 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken's future direction - a cause for concern
Replies: 297
Views: 26522

Re: Quicken's future direction - a cause for concern

I just received an email to get "Quicken Premium Support". $49 for one year. "Get unlimited priority access to our official Quicken customer care phone support for one year." Think I'll be passing...Most of the time I need support it is because there is an issue with the product.
by michaeljc70
Wed Apr 19, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Buy new house in Seattle area?
Replies: 19
Views: 1439

Re: Buy new house in Seattle area?

$3k a month seems low for a monthly payment on a $600k mortgage including insurance and taxes. How much are the taxes on a $850k house? What kind of rate are you using?
by michaeljc70
Wed Apr 19, 2017 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: To refinance or not?
Replies: 11
Views: 795

Re: To refinance or not?

After thinking about this, you may not be able to keep the HELOC and refinance. Since you said it will probably be 18 months before that is paid off, that could be a factor. I would check with your HELOC lender if they will allow refinancing. Some will allow it and some won't.
by michaeljc70
Wed Apr 19, 2017 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Filed form 8606 when not needed - should I amend?
Replies: 13
Views: 1677

Re: Filed form 8606 when not needed - should I amend?

My understanding is that you don't need to file 1040X since there is no impact to the tax liability. I recently corrected a Form 8606 from a few years ago, and the filing was done by KPMG....and they did not include a 1040X with the amended Form 8606 since there was no change in tax liability. Best...
by michaeljc70
Wed Apr 19, 2017 10:52 am
Forum: Personal Consumer Issues
Topic: Tips on Uber
Replies: 64
Views: 4767

Re: Tips on Uber

Just tip, don't be a tightwad, these people barely make enough to justify what their doing. Saying the app doesn't allow it, is just a copout, just hand them a five, at least their trying to make ends meet by working. People remind me of some relatives, they have boat loads of money but like to pre...
by michaeljc70
Wed Apr 19, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 127
Views: 11011

Re: Do you have an umbrella policy?

I had the same thought. Many (most?) of the stated rates seems WAY lower than what i am paying. I pay about $900 for $2M policy. I was paying about $200 for $1M policy, then i went to $2M and added a teen driver at the same time. Not sure which had the bigger impact. Anyone out there getting lower ...
by michaeljc70
Wed Apr 19, 2017 10:40 am
Forum: Personal Consumer Issues
Topic: Tips on Uber
Replies: 64
Views: 4767

Re: Tips on Uber

I don't tip them for a normal trip. If I have several bags going to the airport and they help with them, I tip them.

Also, a lot of the trips I take (like with UberPool) are very cheap. What do you tip on a $3 ride?
by michaeljc70
Wed Apr 19, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: How to Avoid Tax Refund Being Seized
Replies: 37
Views: 4172

Re: How to Avoid Tax Refund Being Seized

I didn't read all responses, but what if there is no refund and still existing debt? Would you rather they garnish wages than take your refund? Put a lien on your home if you own one?
by michaeljc70
Wed Apr 19, 2017 10:21 am
Forum: Personal Finance (Not Investing)
Topic: To refinance or not?
Replies: 11
Views: 795

Re: To refinance or not?

What if rates are 8% in 7 years? I wouldn't get an ARM at this point unless there was a very good chance I'd be moving within the 7 years. Even if you plan on moving in 7 years, you might reconsider if rates are 8%.
by michaeljc70
Wed Apr 19, 2017 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 127
Views: 11011

Re: Do you have an umbrella policy?

So what happens in an unfortunate auto situation where you are at fault and the other car had 4 "high earners." They'd blow right through 10 million? You try to insure against most situations. Almost no one is insured to cover any possible situation. What if you hit Bill Gates driving a $...
by michaeljc70
Tue Apr 18, 2017 10:32 pm
Forum: Personal Consumer Issues
Topic: Doctor fees - Insured vs uninsured patients
Replies: 23
Views: 2083

Re: Doctor fees - Insured vs uninsured patients

The standard in my location is a 15% discount for cash paying patients. This is off everything - the visit fee, blood work, procedure fee, etc. It would be expected that the patient pay in full before they leave. You can get a quote if specific testing or lab work is needed. I'm not sure if the 15%...
by michaeljc70
Tue Apr 18, 2017 10:15 pm
Forum: Personal Consumer Issues
Topic: Doctor fees - Insured vs uninsured patients
Replies: 23
Views: 2083

Re: Doctor fees - Insured vs uninsured patients

The standard in my location is a 15% discount for cash paying patients. This is off everything - the visit fee, blood work, procedure fee, etc. It would be expected that the patient pay in full before they leave. You can get a quote if specific testing or lab work is needed. I'm not sure if the 15%...
by michaeljc70
Tue Apr 18, 2017 9:59 pm
Forum: Personal Consumer Issues
Topic: Doctor fees - Insured vs uninsured patients
Replies: 23
Views: 2083

Re: Doctor fees - Insured vs uninsured patients

I have worked for several large insurance companies, but am no expert on this subject. It would not surprise me if the contract between providers and the insurance company requires charging a certain minimum rate. I have story that may be related. A close friend had a physical done by his doctor who...
by michaeljc70
Tue Apr 18, 2017 5:23 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of stuff would you never DIY, assuming you could?
Replies: 75
Views: 5438

Re: What kind of stuff would you never DIY, assuming you could?

I'll add that growing up, my Father did everything because he couldn't afford to pay someone. I try to do things myself allowing for my patience and my time available for the task, but it is nice being able to afford to pay someone sometimes. I appreciate knowing how to do the things and it is usefu...
by michaeljc70
Tue Apr 18, 2017 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of stuff would you never DIY, assuming you could?
Replies: 75
Views: 5438

Re: What kind of stuff would you never DIY, assuming you could?

I can do most things around the house and have, but I am to the point that I don't like to do boring, repetitive things like painting and tiling. I remodeled a whole kitchen (including moving plumbing and electrical) and didn't mind, but ripping up tile and re-tiling a bathroom I lost interest.
by michaeljc70
Tue Apr 18, 2017 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Why do I owe so much on my taxes?
Replies: 32
Views: 3742

Re: Why do I owe so much on my taxes?

I am 27 years old, single, and do not own a home. I do not have any investments, etc. I use TurboTax for my tax returns and the only info I have to enter is my W-2. I have one full time job and two part time jobs. I made about 70k on my full time job and had 1 exemption. On my part time job, I made...
by michaeljc70
Tue Apr 18, 2017 10:20 am
Forum: Personal Consumer Issues
Topic: Cabo San Lucas ?
Replies: 13
Views: 1377

Re: Cabo San Lucas ?

I was there in January. Swimming is not recommended at a lot of the beaches, so if you enjoy that, do some research. I was struck by how expensive taxis were from the airport. Seems like it is fixed (they seem to ask the same price). It was like NYC prices from the airport. We stayed mostly at our r...
by michaeljc70
Tue Apr 18, 2017 10:03 am
Forum: Personal Consumer Issues
Topic: Best cruise
Replies: 50
Views: 3557

Re: Best cruise

I check their 90 day ticker all the time for last minute deals... Itineraries do change over time.... The cost of a cruise will vary greatly... The OP is planning a cruise they won't be taking for TEN YEARS . It is impossible to provide any relevant information on what prices or itineraries will be...
by michaeljc70
Tue Apr 18, 2017 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 127
Views: 11011

Re: Do you have an umbrella policy?

What others are describing above sounds like an umbrella policy is a good way to bump the likely settlement value from your savings (leaving too small of a cut to be worth it for many lawyers) up to your savings + the umbrella limit. Anyways, I don't own a business, I have a clean driving record, I...
by michaeljc70
Tue Apr 18, 2017 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 127
Views: 11011

Re: Do you have an umbrella policy?

No, but I should. The prices I am seeing quoted here seem low. I got a quote a year or two ago and to bring my other policies up to the required level and get the Umbrella, it was in the $300 range for $1M (1 car, 1 townhouse). I am with Progressive. I need to shop around or just bite the bullet and...
by michaeljc70
Tue Apr 18, 2017 9:13 am
Forum: Personal Consumer Issues
Topic: Best cruise
Replies: 50
Views: 3557

Re: Best cruise

You'll easily be able to get a 7 day cruise for ~$1000 for two people. Add some excursions and spending money, some cheap flights to FLL or Miami you can do it for $2000. +1 I am not a "cruise person" but I have gotten a greatly discounted cruise at this web site. http://vacationstogo.com...
by michaeljc70
Mon Apr 17, 2017 5:10 pm
Forum: Personal Consumer Issues
Topic: Insurance, doctors and writing off owed money
Replies: 21
Views: 1757

Re: Insurance, doctors and writing off owed money

Common misconception. The only "write-off" for the doc is that he doesn't get the cash, so he "writes it off" his books. There is no tax deduction for him as he would have to take the deduction against income, which he never got. Donated professional services are not deductible ...
by michaeljc70
Mon Apr 17, 2017 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Stunning Increase In Homeowner's Ins Premium
Replies: 27
Views: 5070

Re: Stunning Increase In Homeowner's Ins Premium

I have known other people that have had the same treatment from Hartford. There is nothing to do / see here with Hartford. Need to go shopping with other providers. You will read the same complaints with every other insurance company with pretty much every product (car, life, house,...). It can be ...
by michaeljc70
Sat Apr 15, 2017 7:48 pm
Forum: Personal Consumer Issues
Topic: Windows 10 upgrade, now legacy software doesn't work
Replies: 34
Views: 2257

Re: Windows 10 upgrade, now legacy software doesn't work

The virtual machine option is a decent one if you have a license. The problem is when old OSs get too old, they get no support and updates. That leaves you vulnerable to security issues that are patched constantly on newer versions. Whatever you do, I would come up with a plan to transition to somet...
by michaeljc70
Sat Apr 15, 2017 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Physician using Turbotax, owing 30K so far already...
Replies: 65
Views: 6651

Re: Physician using Turbotax, owing 30K so far already...

One of the safe assumption that you can do is that in general IRS is NOT stupid. If one could have avoided paying more taxes by MFS instead of MFJ, everybody would have been doing that and the IRS would have already stopped it cold. You can also assume that there are many many households where ther...
by michaeljc70
Sat Apr 15, 2017 12:08 pm
Forum: Personal Consumer Issues
Topic: leaving early from work
Replies: 57
Views: 7117

Re: leaving early from work

I wouldn't frame it as leaving early. I would frame it as a schedule adjustment. Maybe starting earlier or from home or finishing the day working from home or working through lunch or whatever applies to still get the job done. Though I have always had accomodating bosses, this seems like an everyda...
by michaeljc70
Sat Apr 15, 2017 12:05 pm
Forum: Personal Consumer Issues
Topic: radio alarm clock that projects the time on the wall or ceiling
Replies: 18
Views: 1368

Re: radio alarm clock that projects the time on the wall or ceiling

For Christmas, I bought this one for a friend from Amazon. https://www.amazon.com/Electrohome-EAAC601-Projection-Temperature-Connection/dp/B003WGRUQQ/ref=sr_1_1?s=electronics&ie=UTF8&qid=1492274739&sr=1-1&keywords=projector+clock+radio She was so pleased with it that she recently bo...
by michaeljc70
Sat Apr 15, 2017 11:58 am
Forum: Personal Finance (Not Investing)
Topic: What constitutes "a lot" of money?
Replies: 79
Views: 10087

Re: What constitutes "a lot" of money?

Money is almost always viewed in context. Being overcharged a $4 on a $5 item is a lot. A $3000 portfolio fluctuation on a $2 million portfolio is not. A daily fluctuation has zero impact on my spending.

The total balance of my portfolio does impact my spending.
by michaeljc70
Sat Apr 15, 2017 11:57 am
Forum: Personal Finance (Not Investing)
Topic: My kids don't care about saving
Replies: 114
Views: 10525

Re: My kids don't care about saving

Give your kids a break. They are still young. While this forum has many participants their age who are saving a lot of money that is not the norm. It sounds like you raised responsible children who have good jobs and aren't living in your basement. They are now adults and they aren't asking you for...
by michaeljc70
Sat Apr 15, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Physician using Turbotax, owing 30K so far already...
Replies: 65
Views: 6651

Re: Physician using Turbotax, owing 30K so far already...

No, you cannot do that. They are treated equally on a quarterly basis. Otherwise everyone would just have all their taxes withheld in December and use the extra money all year. See form 2210 line 19. The withheld amount and estimated payments are entered in the same box. BL is the one that is corre...
by michaeljc70
Sat Apr 15, 2017 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Physician using Turbotax, owing 30K so far already...
Replies: 65
Views: 6651

Re: Physician using Turbotax, owing 30K so far already...

Be aware that estimated tax must cover the quarter it was earned, while withholding can be done at any time of the year and not be a late payment. I am not sure what you mean by that. Dollars withheld are treated the same as dollars paid as estimated taxes for purposes of the penalty. Topic 306 - P...

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