Search found 624 matches

by hachiko
Fri Mar 31, 2023 7:06 am
Forum: Personal Finance (Not Investing)
Topic: How honest/diligent are you about adjusting wash sales on tax returns?
Replies: 19
Views: 954

Re: How honest/diligent are you about adjusting wash sales on tax returns?

Did automatic reinvesting save OP time though? Because now they're spending a lot of time trying to calculate wash sales.
by hachiko
Thu Mar 30, 2023 9:55 pm
Forum: Investing - Theory, News & General
Topic: No FDIC Insurance – Why a Brokerage Account Is Safe by Harry Sit
Replies: 4
Views: 659

Re: No FDIC Insurance – Why a Brokerage Account Is Safe by Harry Sit

JoMoney wrote: Thu Mar 30, 2023 9:50 pm
hachiko wrote: Thu Mar 30, 2023 9:44 pm Doesn't your cash have to sit somewhere? Fidelity doesn't have massive safes with hundreds of thousands of paper notes in them.
Your cash is swept into a "core" settlement fund which the default for is usually a money market mutual fund. The mutual fund is it's own entity, and the securities owned by the fund are actually held by a third-party custodian (usually a trust bank that has to meet other qualifications and regulations to be a qualified custodian.)
Oh, that's not the default for Schwab, I see it is for Fidelity. At Schwab it sweeps into an FDIC insured account.
by hachiko
Thu Mar 30, 2023 9:44 pm
Forum: Investing - Theory, News & General
Topic: No FDIC Insurance – Why a Brokerage Account Is Safe by Harry Sit
Replies: 4
Views: 659

Re: No FDIC Insurance – Why a Brokerage Account Is Safe by Harry Sit

Doesn't your cash have to sit somewhere? Fidelity doesn't have massive safes with hundreds of thousands of paper notes in them.
by hachiko
Thu Mar 30, 2023 9:33 pm
Forum: Personal Finance (Not Investing)
Topic: Pending Charge - How Long to Expire?
Replies: 9
Views: 943

Re: Pending Charge - How Long to Expire?

So now I have $14,000 in pending charges, impacting available credit. What type of card is this? Visa? Amex? or? Whenever we've had something like this, the card issuer was quickly able to remove the amount from what is currently due, letting us know that IF it turned out we were liable for the charge, they'd put it back on. But that way, no interest would accrue, and no "credit limit" would have been affected. Amex is especially good with such "issues". RM Thanks. It doesn’t show up as due since it is still pending and not posted. Hence no interest is incurred nor is there any payment due for the pending charge. It only affects credit limit because the credit card company is holding the funds in anticipation of the mer...
by hachiko
Thu Mar 30, 2023 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Travel Records (Airport)
Replies: 2
Views: 433

Re: Travel Records (Airport)

You can get the records through a FOIA request from CBP. You should be able to submit the request online.
by hachiko
Thu Mar 30, 2023 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Getting mails/visits/call from NORC at Univ of Chicago.
Replies: 19
Views: 2313

Re: Getting mails/visits/call from NORC at Univ of Chicago.

$500 is higher than I've ever been offered, but I do get offers from research firms offering several hundred for 30 min to an hour, so a $500 offer certainly doesn't mean it's a scam. It really depends on what they need. If they need someone in the U.S. between the ages of 18 and 35 who has played video games in the last month they're probably going to offer much less than if they need an executive between the ages of 35 and 40, living in the Midwest, working remotely for a NYC company.
by hachiko
Wed Mar 29, 2023 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Millennials: do you prefer debit to credit? if so, why?
Replies: 178
Views: 10912

Re: Millennials: do you prefer debit to credit? if so, why?

By the way, subsidizing is good for the economy. If I need to make $300/hr and I have two clients come to me that each want an hour call. One client can pay $250 for an hour of my time. Another can pay $350. I could charge the one client $300 for the hour and the other client doesn't get an hour, and I only make $300. Or, I could charge the one client $350, the other $250, I'd get my $600 for my two hours, and both clients get an hour of my time for a price they are willing to pay. The reason they're willing to pay that is because I provide more value to them than the cash they are giving me. This benefits all parties. Guess what would happen to air travel if airlines charged the same price to every person who purchases a coach seat on any ...
by hachiko
Wed Mar 29, 2023 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Millennials: do you prefer debit to credit? if so, why?
Replies: 178
Views: 10912

Re: Millennials: do you prefer debit to credit? if so, why?

I learned in school that economic activity was exchange of value. Capital, labor, innovation, natural resources, something. What value did the receiver of CC "rewards" give back to the merchants and the cc users carrying balances and paying interest? Nothing, right? Something there isn't healthy. It's really poor capitalism too. The whole point of capitalism is that money has a cost. It is literally the debit versus credit issue. Debit you pay from value you already have using money which is a store of that value; credit you pay from future value you hope to have plus the cost of money. Money should cost something, or something is broken. The user collecting cash back is generating business for the credit card company through mer...
by hachiko
Tue Mar 28, 2023 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: New driver’s license number, on-line bank applications, and third-party verifiers
Replies: 25
Views: 1854

Re: New driver’s license number, on-line bank applications, and third-party verifiers

There are some quasi-CRAs that banks use that provide your DL/ID number, as has been reported by other banks. The most used of these companies is EWS.

To answer your question about access to DMV records, any decent sized bank has people at the bank that have direct access. The bank's online account opening system generally utilizes one or more service providers that have some access to most DMV records.
by hachiko
Tue Mar 28, 2023 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Millennials: do you prefer debit to credit? if so, why?
Replies: 178
Views: 10912

Re: Millennials: do you prefer debit to credit? if so, why?

I’ve seen a number of articles stating that millennials and Gen Z’ers vastly prefer debit cards to credit cards. As an older millennial this was really surprising to me. This forum likely skews towards people who use credit cards for rewards/cash back, and not people who will carry balances, etc. but I’m curious if there are any millennials or younger people on here who do in fact prefer debit, and if so, why? I am not a millenial, but credit cards have superior consumer protections. I never use a debit card for purchases. This is really a myth. Debit cards have the same de jure protections as credit cards when run as credit. The difference is practical. When someone does a fraudulent debit purchase you’re at the mercy of dealing with the ...
by hachiko
Tue Mar 28, 2023 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Millennials: do you prefer debit to credit? if so, why?
Replies: 178
Views: 10912

Re: Millennials: do you prefer debit to credit? if so, why?

Should anyone be getting money without having to do any real work or sell anything of value? Did you answer that Yes? If you did, should everyone get money without having to do any real work or sell anything of value, or just you? Did you answer that Just Me? Then you see the issue of justice there. If you answered Everyone, then money no longer has value and is in serious trouble. Is it only regular people who have to do real work or sell something of value to get money? Where does the free money come from? I don't think anyone here is arguing that cash back is "free." We all can acknowledge those that carry balances along with merchant fees pay for the cash rewards we receive. If you collect cash back or not, there are still go...
by hachiko
Wed Mar 22, 2023 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: First Republic line of credit - 100k @ 2.25%, any concerns?
Replies: 192
Views: 33374

Re: First Republic line of credit - 100k @ 2.25%, any concerns?

mentos wrote: Wed Mar 22, 2023 11:55 am
hachiko wrote: Wed Mar 22, 2023 9:50 am They're considering selling some of their loans; wonder if these would be in there.
Would the loan terms change if sold?
If there's any provision in the loan agreement which would allow for FRC to stop additional draws, that would probably be exercised by the buyer given the current interest rates. They can't change the terms of the loan, but if there are terms which would allow them to issue a demand for full payment, that could be a concern that the buyer would exercise that option as well. Even without those occurring, there is risk that the servicer changes, which could be remarkably annoying for FRC customers (which makes me think that FRC would likely still want to continue to service the loans).
by hachiko
Wed Mar 22, 2023 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct and Citibank
Replies: 23
Views: 2116

Re: Treasury Direct and Citibank

If they seize my checking acct, good luck collecting on my cc. This is called right to offset, they have the right but so do you. And no bank is what I consider a place to “save/invest”. Checking and credit cards, mortgages. Better to owe them more than you have on deposit, then when they call to collect you can say, “let me transfer you to my department that pays debt to banks that froze my acct….sorry they are busy now, 2 hour wait, please hold”. And with a low balance, you can take them to small claims court if the CFPB does not get action. As to expected service, many bogleheads reported that their bank will no longer do medallion and don’t know what is a signature guarantee. Even Citi who gave me a medallion, had no idea what TD is ta...
by hachiko
Wed Mar 22, 2023 9:50 am
Forum: Personal Finance (Not Investing)
Topic: First Republic line of credit - 100k @ 2.25%, any concerns?
Replies: 192
Views: 33374

Re: First Republic line of credit - 100k @ 2.25%, any concerns?

They're considering selling some of their loans; wonder if these would be in there.
by hachiko
Wed Mar 22, 2023 8:45 am
Forum: Personal Finance (Not Investing)
Topic: When to drop full coverage insurance
Replies: 49
Views: 4567

Re: When to drop full coverage insurance

vasaver wrote: Mon Mar 20, 2023 3:47 pm What about rentals? If you drop Comprehensive and Collision - are you self-insuring your rentals as well?
The rental car companies carry their own collision insurance (or, possibly insure with a captive). You're usually only responsible for $500 (in the US). But you can avoid that with many credit cards. I would imagine that your liability coverage would carry over to the rental, but that's certainly not a "given".
by hachiko
Wed Mar 22, 2023 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Treasury Direct and Citibank
Replies: 23
Views: 2116

Re: Treasury Direct and Citibank

If they seize my checking acct, good luck collecting on my cc. This is called right to offset, they have the right but so do you. And no bank is what I consider a place to “save/invest”. Checking and credit cards, mortgages. Better to owe them more than you have on deposit, then when they call to collect you can say, “let me transfer you to my department that pays debt to banks that froze my acct….sorry they are busy now, 2 hour wait, please hold”. And with a low balance, you can take them to small claims court if the CFPB does not get action. As to expected service, many bogleheads reported that their bank will no longer do medallion and don’t know what is a signature guarantee. Even Citi who gave me a medallion, had no idea what TD is ta...
by hachiko
Tue Mar 21, 2023 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: 1099 income, deductions and depreciation
Replies: 16
Views: 748

Re: 1099 income, deductions and depreciation

None of this makes sense. You're probably allowed to do a lot of the things your proposing, but it wouldn't have the consequences you're hoping for. Is your LLC a disregarded entity? If so, there's no "sale" from the LLC to you for federal income tax purposes. The IRS isn't going to have a problem that you sold the vehicle from from the LLC to you personally for $1. They're going to thank you for documenting the exact date when your vehicle was no longer used for business use, and determine the FMV on that date, and you will have to pay tax on the depreciation recapture.
by hachiko
Tue Mar 21, 2023 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: [Keeping more than FDIC insurance limit in one bank?]
Replies: 86
Views: 6959

Re: Do we need to panic about Ally Bank ?

Whether it was a run or not is semantics, but a number of large investors happened to withdraw large amounts at the same time, causing the sale of bonds at a $2B loss. From what I read that's not what happened. Some customers (particularly startups) had withdrawn increasing amounts of money for several months to cover their liquidity needs, because the capital market was drying up for them. That's what eventually forced SVB to sell, which in turn triggered the run when the news got out. You mean it was a large number of small investors that caused the shortfall? They key point is that it happened over time. It was not a sudden run that forced SVB to sell bonds at a loss, but that they had more outflows than new deposits over several months...
by hachiko
Tue Mar 21, 2023 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: [Keeping more than FDIC insurance limit in one bank?]
Replies: 86
Views: 6959

Re: Do we need to panic about Ally Bank ?

If SVB was systematically important enough to have its depositors made whole by the government, then it's very hard to see how depositors at Chase, BofA, Citi, etc. are anything other than safe. The question is how that would be handled. The FDIC insurance fund (which is used to make the SVB depositors whole) isn't nearly big enough to cover a large scale bank run on these institutions. The fund covers less than 2% of all insured deposits. So the government would have to take extraordinary steps in this case. It wouldn't matter. If one of those banks already had a run they couldn't handle as a result of this systemic problem, many other banks would have already fallen. Since the government is trying to stop those banks from falling, it wil...
by hachiko
Tue Mar 21, 2023 11:48 am
Forum: Personal Finance (Not Investing)
Topic: [Keeping more than FDIC insurance limit in one bank?]
Replies: 86
Views: 6959

Re: Do we need to panic about Ally Bank ?

Remember when everyone ran out to buy up all the toilet paper at the start of the pandemic, thereby making the one thing they were afraid of happening, happen? There was enough toilet paper for everyone to use a normal amount, but not enough for everyone to buy a year's worth at once. That's what these bank runs are all about. There is nothing to worry about unless a bunch of people panic all at once. Anyone who is involved in that panic is contemptible to me, not too different from the people who refuse to merge on time on the highway and instead wait until the last minute, creating the very traffic delays they are trying to skirt around. Agree with your whole post except the analogy. That's called a zipper merge, and it's actually the mo...
by hachiko
Tue Mar 21, 2023 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Administrative and recording fees at Fidelity
Replies: 8
Views: 775

Re: Administrative and recording fees at Fidelity

How frequent are these fees? My Fidelity 401k fees are charged quarterly, and almost $700 in fees/year seems crazy to me, regardless of how much you have there. Of course, if you get access to some special funds, the % fees may be more palatable if you have a lot there.
by hachiko
Sun Mar 19, 2023 11:05 am
Forum: Personal Finance (Not Investing)
Topic: HELOC/HEL vs Personal Loan
Replies: 3
Views: 275

Re: HELOC/HEL vs Personal Loan

Outer Marker wrote: Sun Mar 19, 2023 10:02 am
hachiko wrote: Sun Mar 19, 2023 9:35 am Assuming interest rates are pretty close, is there any reason to setup a HELOC instead of just getting a personal unsecured loan from one of the online places (Lending Club, Lightstream, etc)?

If it matters, this is for solar panels, but assume the mortgage interest deduction doesn't apply.
HELOC interest for home improvements is deductible.
It's not necessary to hash it all out, but it's not eligible for me in this case.
by hachiko
Sun Mar 19, 2023 9:35 am
Forum: Personal Finance (Not Investing)
Topic: HELOC/HEL vs Personal Loan
Replies: 3
Views: 275

HELOC/HEL vs Personal Loan

Assuming interest rates are pretty close, is there any reason to setup a HELOC instead of just getting a personal unsecured loan from one of the online places (Lending Club, Lightstream, etc)?

If it matters, this is for solar panels, but assume the mortgage interest deduction doesn't apply.
by hachiko
Sat Mar 18, 2023 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Should I move to a state with no income tax to save on taxes?
Replies: 216
Views: 17501

Re: Should I move to a state with no income tax to save on taxes?

I haven t really noticed, but I wonder if the people on this thread who so easily dismiss the savings of 500-1000 dollars a month in state income taxes (or more) are also on the threads that talk about their savings with the use of their credit cards. 🤔 The difference is that there are almost no other factors involved with credit card rebates: you either get them or don't while the products and services you buy remain identical. There are no quality of life differences between credit cards. The cards more or less imply "all other factors being equal", while the choice of where to live doesn't. This post perhaps should have been titled "Should I move to a location with a lower cost of living", whether in the same or diff...
by hachiko
Fri Mar 17, 2023 11:41 am
Forum: Personal Finance (Not Investing)
Topic: First Republic line of credit - 100k @ 2.25%, any concerns?
Replies: 192
Views: 33374

Re: First Republic line of credit - 100k @ 2.25%, any concerns?

I got greedy LoL. But I bought a relatively small amount. I don't think it's a huge risk. I'm surprised the PLOC is still offered at 3.95%. That's still an excellent rate in the current environment. I may buy again if it drops below 24, otherwise I will jealously watch as you ride it back up to 100. I think it will either go to 0 or back up to the 80 range. It doesn't make sense for it to be around 30. Isn't the current target $5? If you're shorting then yes. I don't follow the question. No, that a consensus target from an online article I read just this morning. Oh, I didn't understand you were talking about the price targets from analysts. I don't believe the consensus is $5. I think $5 may be the low. Either way, analyst price targets a...
by hachiko
Fri Mar 17, 2023 10:05 am
Forum: Personal Finance (Not Investing)
Topic: First Republic line of credit - 100k @ 2.25%, any concerns?
Replies: 192
Views: 33374

Re: First Republic line of credit - 100k @ 2.25%, any concerns?

ncbill wrote: Fri Mar 17, 2023 9:31 am
hachiko wrote: Fri Mar 17, 2023 6:46 am
mentos wrote: Fri Mar 17, 2023 1:27 am I got greedy LoL. But I bought a relatively small amount. I don't think it's a huge risk.

I'm surprised the PLOC is still offered at 3.95%. That's still an excellent rate in the current environment.
I may buy again if it drops below 24, otherwise I will jealously watch as you ride it back up to 100. I think it will either go to 0 or back up to the 80 range. It doesn't make sense for it to be around 30.
Isn't the current target $5?
If you're shorting then yes. I don't follow the question.
by hachiko
Fri Mar 17, 2023 8:08 am
Forum: Personal Finance (Not Investing)
Topic: First Republic line of credit - 100k @ 2.25%, any concerns?
Replies: 192
Views: 33374

Re: First Republic line of credit - 100k @ 2.25%, any concerns?

They got bailed out by the big banks. The stock price is currently around $27 after hours. "To Our Valued Clients, Today, First Republic announced we will receive uninsured deposits totaling $30 billion on March 16, 2023, from Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, PNC Bank, State Street, Truist and U.S. Bank. This support from America’s largest banks reflects confidence in First Republic and our ability to continue to provide unwavering service to you — our clients and communities. You can read more by viewing our press release available on our website. We continue to stay focused on the core tenets of First Republic: Operating a simple, straightforward busines...
by hachiko
Fri Mar 17, 2023 6:46 am
Forum: Personal Finance (Not Investing)
Topic: First Republic line of credit - 100k @ 2.25%, any concerns?
Replies: 192
Views: 33374

Re: First Republic line of credit - 100k @ 2.25%, any concerns?

mentos wrote: Fri Mar 17, 2023 1:27 am I got greedy LoL. But I bought a relatively small amount. I don't think it's a huge risk.

I'm surprised the PLOC is still offered at 3.95%. That's still an excellent rate in the current environment.
I may buy again if it drops below 24, otherwise I will jealously watch as you ride it back up to 100. I think it will either go to 0 or back up to the 80 range. It doesn't make sense for it to be around 30.
by hachiko
Thu Mar 16, 2023 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: First Republic line of credit - 100k @ 2.25%, any concerns?
Replies: 192
Views: 33374

Re: First Republic line of credit - 100k @ 2.25%, any concerns?

mentos wrote: Thu Mar 16, 2023 6:32 am Stock is beaten down again. Just bought 100 shares at 23.44. May not hold long though.
You just paid for my summer vacation as long as I can sell after this halt at 34.
by hachiko
Wed Mar 15, 2023 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Should I move to a state with no income tax to save on taxes?
Replies: 216
Views: 17501

Re: Should I move to a state with no income tax to save on taxes?

Why would you be fine living in South Dakota or Alaska but not Wyoming?
by hachiko
Mon Mar 13, 2023 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: I filed a 1040-X without an original 1040 (2021)
Replies: 11
Views: 918

Re: I filed a 1040-X without an original 1040 (2021)

The best thing to do, IMO, is to use TT to efile a correct 1040 for 2021 now and let the IRS send you a bill for the late filing penalty. If they have already tried to process the 1040-X they probably would have sent you a letter and you have not received same. When they do process the 1040-X and find there are no changes from your correct 1040 they may send you a letter or just ignore the 1040-X since it makes no changes to the 1040. When the IRS receives a 1040-X and has no record of an original return the individual working the return will search in various systems for original returns (checking spouse SSNs, maybe business filings, rejected returns, contacting different offices, etc.) During this time period, they put a freeze on the ac...
by hachiko
Sun Mar 12, 2023 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: NJ Tax refund, received notice...need help
Replies: 9
Views: 1184

Re: NJ Tax refund, received notice...need help

It's interesting that you mention that. I thought all my 1099 had no state tax come out of them...because they shouldn't have. My one vanguard 1099-R for my IRA does show a #16 state tax distribution incorrectly on the form. It should be left blank along with 14 and 15 which are blank. I heard other people had this problem as well with vanguard this year (see this post https://www.bogleheads.org/forum/viewtopic.php?t=394627). When I actually filled it out in turbotax and imported it...it correctly left it blank. I wonder if this is the issue? Multiple posts on here pretty much say don't worry about it. If line 14 is blank, and they ask for 1099s with state tax withheld, don't send that. My recommendation is to stop worrying about what may ...
by hachiko
Sun Mar 12, 2023 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: NJ Tax refund, received notice...need help
Replies: 9
Views: 1184

Re: NJ Tax refund, received notice...need help

scorcher31 wrote: Sun Mar 12, 2023 10:41 pm They already have a copy for the whole turbotax filing for the state. I presume W2s automatically go out to them, plus they are manually entered in my filing. If anything was withheld for the state from my 1099s, then the total withheld on the tax return would be greater than just the two W2s. I figured maybe the wanted to review all my 1099 to make sure I did not forget to claim income, but they can't tell that by only looking at 1099s with state taxes withheld.
They may not have a copy of your W-2. Maybe the filer hasn't filed their year end withholding return with the state. Regardless, just respond to whatever they ask for.
by hachiko
Sun Mar 12, 2023 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: NJ Tax refund, received notice...need help
Replies: 9
Views: 1184

Re: NJ Tax rebate received notice

scorcher31 wrote: Sun Mar 12, 2023 6:15 pm The weird thing is I had no state taxes withheld on my 1099 so I'm not sure what they are looking for. Do they really want like 8 1099s with no state tax withheld
The same letter is issued to every taxpayer that they need this information from. They aren't looking at your return to see what applies to you specifically, and customizing the letter.

You must have reported state tax withholding of some kind. They want proof of that.

They are asking for 1099s that show state tax withholding. You shouldn't send 1099s that don't show state tax withholding. If you don't have any, you don't send any.
by hachiko
Sun Mar 12, 2023 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: I filed a 1040-X without an original 1040 (2021)
Replies: 11
Views: 918

Re: I filed a 1040-X without an original 1040 (2021)

It's going to have to be dealt with manually. What I'd probably do is contact the IRS via phone and tell them to notate in the taxpayer notes that you sent the return on a 1040-X, but intend for that to be an original return (assuming that's actually the case, and you have everything in there you need). Hopefully they'll actually notate and the IRS person who eventually goes looking for your original return sees the notation. If not, they're supposed to send you a letter, and you can respond to that stating you want it to be considered an original return. If you don't send a response, the default is that the IRS will process it as an original return, it will probably take a long time with the manual processing along with the correspondence ...
by hachiko
Sun Mar 12, 2023 8:54 am
Forum: Personal Finance (Not Investing)
Topic: S-Corp tax deadline is March 15?
Replies: 21
Views: 1458

Re: S-Corp tax deadline is March 15?

bsteiner wrote: Sun Mar 12, 2023 8:45 am Put it on extension. You can do that yourself.
They should get confirmation from the accountant, or confirm themselves if they can, that the S-Corp election was actually filed.
by hachiko
Sun Mar 12, 2023 8:42 am
Forum: Personal Finance (Not Investing)
Topic: S-Corp tax deadline is March 15?
Replies: 21
Views: 1458

Re: S-Corp tax deadline is March 15?

First thing to do is to get in touch with this accountant. Email them, call them, show up at the office. Being busy is not an excuse for not responding to emails, and not being verbose doesn't have anything to do with sending a "got your docs, will take a look" reply, and you have a deadline in 3 days. Are you sure that you've actually elected S-Corp status already? These are things the accountant needs to handle, assuming they actually agreed to prepare your returns.
by hachiko
Sat Mar 11, 2023 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Pennsylvania "MyPath" Question
Replies: 12
Views: 903

Re: Pennsylvania "MyPath" Question

Mypath is built on a system often referred to as Taxpayer Access Point or TAP. It's a 3rd party system that most states and many localities use.

Colorado also uses TAP and for some account types you have to be granted specific permission by someone at the taxing authority to make e-payments. Not just you granting yourself the authority, something has to be done on the back end. This is the only taxing authority where I've experienced this. It's possible something like this is happening in PA on your account. If you're able to send a message through mypath, I'd do that, but know that it may take them a long time to get to it. Calling is better, but if you can't get through...
by hachiko
Sat Mar 11, 2023 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Tax Credit - Adding Solar Panels to Existing Install?
Replies: 10
Views: 1195

Re: Tax Credit - Adding Solar Panels to Existing Install?

xerxes101 wrote: Sat Mar 11, 2023 9:10 am My guess is that these codes are so new that the experts may not even agree.
I'm not aware of any disagreement among tax professionals on the eligibility for the federal tax credit for an *addition* of solar panels to a solar panel system.

Other providers of incentives (state or local governments, utility companies, etc.) may have different rules. Some places only give credit up to a certain amount of generation, so while additional installations may still qualify, there may be other things to consider as well.
by hachiko
Sat Mar 11, 2023 10:01 am
Forum: Personal Finance (Not Investing)
Topic: First Republic Bank- question about FDIC
Replies: 24
Views: 2458

Re: First Republic Bank- question about FDIC

.....so if the rest is in a brokerage account, it would be covered by SIPC? As mentioned earlier, SIPC is NOT the same as FDIC. https://www.sipc.org/for-investors/what-sipc-protects "It is important to recognize that SIPC protection is not the same as protection for your cash at a Federal Deposit Insurance Corporation (FDIC) insured banking institution because SIPC does not protect the value of any security." I assume this is because securities change in value per the market. If a brokerage explodes and you have 1000 shares of VTI for $200k, you’d get 1000 shares after the dust settles, and the market price would be different because the market changes. It could be 210k or 190k. The shares are insured, not the value, right? One t...
by hachiko
Sat Mar 11, 2023 7:25 am
Forum: Personal Finance (Not Investing)
Topic: First Republic line of credit - 100k @ 2.25%, any concerns?
Replies: 192
Views: 33374

Re: First Republic line of credit - 100k @ 2.25%, any concerns?

SVB collapsed - investors are concerned that FRC might be subject to the risks. They aren’t. But a bank run could still put them in Jeopardy Yep! I meant to say that FRC might be subject to the same risks that would cause a bank run. I don't really see any relationship between SVB and FRC besides the fact that they are/were both subject to bank runs, like all banks. You forget that they are both based in Silicon Valley and share a customer base that works in tech It's true. I don't know whether that alone will cause a bank run on FRC, but personally, I'm inclined to believe the deposit base for FRC is different enough from the deposit base for SVB that I don't see a bank run happening on FRC. This is based on my personal bias though living...
by hachiko
Fri Mar 10, 2023 7:07 am
Forum: Personal Finance (Not Investing)
Topic: I successfully disputed credit card charge and now getting a bill!
Replies: 89
Views: 8678

Re: I successfully disputed credit card charge and now getting a bill!

So many of these replies conveniently ignore the fact that when the OP was presented with a contract at the airport counter containing the additional driver fee (which he understood would be at no charge), he SIGNED THE CONTRACT anyway. There has been no explanation from the OP as to why he SIGNED THE CONTRACT containing a fee to which he says he didn't agree. Why did he not simply say, "that isn't what we discussed, I'm not signing it until the additional driver fee is removed?" And even later when neither the employee at the gate nor the employee at the booth could make that "promised" change, why didn't OP simply go back to the counter and address it right then and there with the agent at the counter with whom he dea...
by hachiko
Thu Mar 09, 2023 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Should I even attempt to file an amendment for 2017 and 2018?
Replies: 10
Views: 1812

Re: Should I even attempt to file an amendment for 2017 and 2018?

The article says you can increase carryforwards but not that you can "file" an amended return. I'm not saying you're wrong as the article was from 25 years ago.
by hachiko
Thu Mar 09, 2023 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: I successfully disputed credit card charge and now getting a bill!
Replies: 89
Views: 8678

Re: I successfully disputed credit card charge and now getting a bill!

cowdogman wrote: Thu Mar 09, 2023 5:11 pm And looking at this from a common sense POV, if a customer was a rewards member at the time of the reservation and the third party reservation entitled him to the rewards benefits, don't you think this would have resolved long before now--at the counter, during the follow up phone call, after the credit card dispute had been filed?
No.
by hachiko
Thu Mar 09, 2023 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: AMEX Premium car rental insurance
Replies: 24
Views: 1609

Re: AMEX Premium car rental insurance

"The Auto Rental Collision Damage Waiver benefit provides reimbursement for damages caused by theft or collision up to the Actual Cash Value of most rented cars." From my Chase Sapphire Benefits booklet. But the next sentence says: The Auto Rental Collision Damage Waiver acts as primary coverage and covers theft, damage, valid loss-of-use charges imposed and substantiated by the auto rental company, administrative fees, and reasonable and customary towing charges (due to a covered theft or damage) to the nearest qualified repair facility. If the cover related only to the "Collision" in "Collision Damage Waiver" it wouldn't cover theft. CDW and LDW are often used synonymously. For example, from the Avis site: W...
by hachiko
Thu Mar 09, 2023 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: I successfully disputed credit card charge and now getting a bill!
Replies: 89
Views: 8678

Re: I successfully disputed credit card charge and now getting a bill!

Can your credit card company speak for you since Thrifty had accepted them as the party which the payment went through? When I challenge a charge coming thru Visa or MC and they accept my refusal to pay, the credit card company solves it with the entity doing the charging. Isn't this the same? That happened, the OP already won the dispute. The credit card company said to Thrifty that they are not allowed to charge the customer. As a result, any charge that hits the credit card in violation of that decision is not allowed and the credit card company will reverse it when contacted. But the credit card company doesn't have any authority to resolve a dispute between two private, unrelated parties. There is often some limited authority that net...
by hachiko
Thu Mar 09, 2023 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: I successfully disputed credit card charge and now getting a bill!
Replies: 89
Views: 8678

Re: I successfully disputed credit card charge and now getting a bill!

For all the people arguing "OP signed the contract" and people talking about "parol evidence" rules, I disagree. There are many different avenues for invalidating a contract (this has nothing to do with the parol evidence rule, which is an evidentiary rule, btw). And OP clearly got scammed by Thrifty (either directly, or through their representatives). OP is in the right ethically to challenge this charge. They may have legal grounds to challenge the charge as well. That said, as others have stated, Thrifty is fully within their legal rights to pursue the OP for a charge they believe OP owes. There's nothing the credit card company can or will do, unless Thrifty attempts to re-present the charge (which does not appear to...
by hachiko
Mon Feb 27, 2023 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: have you been asked to show receipts for HSA?
Replies: 16
Views: 2980

Re: have you been asked to show receipts for HSA?

Amounts available for reimbursement in an FSA do not belong to you. It's more similar to an expense reimbursement benefit than it is to an HSA. Funds in an HSA belong to you.
by hachiko
Mon Feb 27, 2023 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: 15 year old to europe - cash options
Replies: 59
Views: 4078

Re: 15 year old to europe - cash options

From the OP: The above locations on average are more advanced than the United States in almost every way. Please explain this. Last I checked we both have color TV. Generally I would take issue with anyone saying another country is more advanced than the US. But in the case of payment processing, most of the world is far more advanced. Any country that brings a credit card reader to your restaurant table, instead of walking away with your credit card, is superior. I hate giving my card to a waiter. Aside from the process taking forever when I’m in a hurry, it also gives them opportunity to steal my card info. And using chip+pin instead of chip+signature is definitely superior. I always grimace when a European clerk has to search for a pen ...
by hachiko
Mon Feb 27, 2023 8:30 am
Forum: Personal Finance (Not Investing)
Topic: 15 year old to europe - cash options
Replies: 59
Views: 4078

Re: 15 year old to europe - cash options

Please explain this. Last I checked we both have color TV. To answer would require a separate thread. If you don't know the answer you haven't traveled recently or extensively to those, and other, European countries. Correct, I haven’t been to Germany or Italy since 2019. Czech Republic or Austria since 2012. Perhaps the flying cars came out since then and I somehow missed the headlines. One example you will notice quickly is airport security. I just don't understand people saying "cash isn't necessary, last time I went to Europe I never even got cash." While I absolutely believe them, and I rarely use cash when I'm in most countries in Europe, things do still happen where you may need cash. Despite how "advanced" many ...