Search found 462 matches

by HereToLearn
Thu Aug 22, 2019 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Please help me understand Schedule H and Nanny taxes
Replies: 9
Views: 711

Re: Please help me understand Schedule H and Nanny taxes

I never used an accountant until we had a nanny. Money well $pent. Your response is disconcerting! I hired Care. Com/ Home Pay to calculate and remit taxes on behalf of the aides I employed for my mother. The company has been fabulous dealing with all of the new hires, constantly changing shift cal...
by HereToLearn
Thu Aug 22, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Please help me understand Schedule H and Nanny taxes
Replies: 9
Views: 711

Re: Please help me understand Schedule H and Nanny taxes

I never used an accountant until we had a nanny. Money well $pent. Your response is disconcerting! I hired Care. Com/ Home Pay to calculate and remit taxes on behalf of the aides I employed for my mother. The company has been fabulous dealing with all of the new hires, constantly changing shift cal...
by HereToLearn
Wed Aug 21, 2019 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Merits of a Selective School

I don't think the UCs give much money, so will assume that your link is correct. I think that Regents award also comes with some early registration benefits. Here is a list of the merit awards offered to NMSF and NMF. List is not current for upcoming year, but it will give you an idea of the opport...
by HereToLearn
Wed Aug 21, 2019 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Selective Colleges

What is curious to me about this thread is that there are fewer parents of college students & graduates participating than I expected. These parents have gone through this with their young adults recently and started long threads on the subject. It is almost as if they figured out after the fact th...
by HereToLearn
Tue Aug 20, 2019 11:11 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Merits of a Selective School

b) 4.0 GPA 1500 SATS parental income of 250k. Gets 0 dollars to go to Harvard, gets full ride to state school A goes to Harvard. B goes to state school. Are you measuring the effects of going to Harvard versus State school or are you measuring the fact effects of being raised in an upper middle cla...
by HereToLearn
Tue Aug 20, 2019 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Merits of a Selective School

b) 4.0 GPA 1500 SATS parental income of 250k. Gets 0 dollars to go to Harvard, gets full ride to state school A goes to Harvard. B goes to state school. Are you measuring the effects of going to Harvard versus State school or are you measuring the fact effects of being raised in an upper middle cla...
by HereToLearn
Mon Aug 19, 2019 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: 529 beneficiary change
Replies: 38
Views: 1502

Re: 529 beneficiary change

what happens if child 1 has 140,000 in her account, then I change the beneficiary to child 2? Is that 140000 a gift from child 1 to child 2? or is it a gift from me to child 2? ( seems illogical, since it was already gifted by me once, to child 1) If you're the account owner then the funds are stil...
by HereToLearn
Sun Aug 18, 2019 11:04 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Selective Colleges

I have a PDF of the Brown admit stats by 50 point SAT ranges saved to my computer, but unlike the clever people here who are able to post charts and such, I have no ability. However, I did want to confirm your recollection. For the class of 2020, here are the admit stats by SAT range. (I will only ...
by HereToLearn
Sun Aug 18, 2019 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Selective Colleges

"Nearly 25 percent of students participate in intercollegiate athletics" at Dartmouth. https://home.dartmouth.edu/dartmouth-glance Some are presumably walk-ons, but some folks recruited as athletes at admission time may not actually complete. It's not clear if the "nearly 25 percent" is for any giv...
by HereToLearn
Sun Aug 18, 2019 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Selective Colleges

Brown (lower-tier Ivy) provides pretty good data about admissions - more than many schools provide. Browse this to get a feel for changes just within a 10 year period, then mentally extrapolate this to a generation: https://www.brown.edu/about/administration/institutional-research/factbook/undergra...
by HereToLearn
Sun Aug 18, 2019 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Selective Colleges

Was that a question for me? No, it was for all readers of this discussion. ACT/SAT ranges for the middle 50% are widely available. I wouldn't waste any time applying anywhere one's scores put them below average unless they were legacy, recruited athlete, or an URM. An otherwise unhooked applicant a...
by HereToLearn
Sun Aug 18, 2019 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Selective Colleges
Replies: 296
Views: 14188

Re: Selective Colleges

Is it fair to write that if a HS graduate cannot expect to be admitted to one of their state flagship universities, then there is only a slim chance that they would be admitted to the kind of selective colleges/universities that this thread is about? Depends on how you define selective and which st...
by HereToLearn
Fri Aug 16, 2019 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 327
Views: 14502

Re: Long-Term Care Decision

WOW, I'm still interested in the names of insurers that offer this. The traditional LTC quotes I have received (Transamerica, Mutual of Omaha) didn't offer 5/5 plus another 5 years of coverage and the coverage doesn't equal even today's SN cost in my state. (I know many people don't end up needing ...
by HereToLearn
Thu Aug 15, 2019 12:06 pm
Forum: Personal Consumer Issues
Topic: Hotel recommendation for Cambridge / Boston
Replies: 45
Views: 2233

Re: Hotel recommendation for Cambridge / Boston

I love Liberty, but it can be quite expensive. I have also stayed at Le Meridien in Cambridge, but the rooms were tiny and I thought the hotel was underwhelming.

Are you willing to take a chance with Hotel Tonight? Not sure how it works for three night stays.
by HereToLearn
Sat Aug 10, 2019 11:28 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 327
Views: 14502

Re: Long-Term Care Decision

RM, The policy for my Dad was issued 20 years ago when he was 74. $150,000 initially, 5% annual inflation rate (not compounded), now worth $300,000. The policy will now pay up to $6,000/mo, no month count, up to total $ payout. We tried Home Care, which Genworth did pay, but the 2 shifts cost was t...
by HereToLearn
Sat Aug 10, 2019 11:05 pm
Forum: Personal Consumer Issues
Topic: Experience with “change airport” itinerary(LGA to JFK)?
Replies: 33
Views: 1948

Re: Experience with “change airport” itinerary(LGA to JFK)?

If I am reading this correctly, you will not need to clear customs at LGA, but you will still need to allot some time to claim luggage. The biggest variable here is the current and endless LGA construction. It has been a disaster recently. Were it not for the construction, four & a half hours should...
by HereToLearn
Wed Aug 07, 2019 9:37 am
Forum: Personal Finance (Not Investing)
Topic: Is SS# Really Necessary on College App When No Financial Aid is Requested?
Replies: 7
Views: 440

Re: Is SS# Really Necessary on College App When No Financial Aid is Requested?

You do not need to include SSN when submitting apps, but you will have to once your child enrolls in college. The school needs the SSN in order to issue the 1098-T, independent of the AOTC. And, the student will need to provide it to the university if they get a job on campus. Oh, good point. I had...
by HereToLearn
Wed Aug 07, 2019 9:24 am
Forum: Personal Consumer Issues
Topic: Boston for a few hours with young kids
Replies: 20
Views: 924

Re: Boston for a few hours with young kids

Driving and parking in Boston is a hassle. Someone who lives locally may have better advice, but if you don't receive a better suggestion, this will be convenient if you want to see the ducks and ride the swan boats. https://www.massconvention.com/about-us/boston-common-garage Hopefully you will hav...
by HereToLearn
Wed Aug 07, 2019 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Is SS# Really Necessary on College App When No Financial Aid is Requested?
Replies: 7
Views: 440

Re: Is SS# Really Necessary on College App When No Financial Aid is Requested?

You do not need to include SSN when submitting apps, but you will have to once your child enrolls in college. The school needs the SSN in order to issue the 1098-T, independent of the AOTC. I never submitted it for my first child, and he ended up having to bring a copy of his SS card to the bursar i...
by HereToLearn
Wed Aug 07, 2019 9:05 am
Forum: Personal Consumer Issues
Topic: Boston for a few hours with young kids
Replies: 20
Views: 924

Re: Boston for a few hours with young kids

Duck Tours. You'll end up seeing a lot of Boston and not only along the river, but IN the river. Haven't done it in a while, but used to start on Boylston St next to the Pru. After (or before) go to the top of the Pru for lunch. This keeps everything very self contained and will work well with kids...
by HereToLearn
Wed Aug 07, 2019 8:55 am
Forum: Personal Consumer Issues
Topic: Boston for a few hours with young kids
Replies: 20
Views: 924

Re: Boston for a few hours with young kids

How old are the children? Have they read Make Way for Ducklings? You may want to read that with them before visiting the Public Garden. They may enjoy a ride on the swam boats. Do you live near the water or would walking along the waterfront interest them? There is an inexpensive ferry from the harb...
by HereToLearn
Mon Aug 05, 2019 10:47 pm
Forum: Personal Investments
Topic: Brex - company credit no personal guarantee
Replies: 3
Views: 357

Re: Brex - company credit no personal guarantee

I had never heard of the company until I read this article in the paper tonight. LOTS of VC backing. Run by two 23 year old Stanford dropouts, although that headline is a little unfair, as they only spent eight months at Stanford and had created a payments start-up as teenagers in Brazil, later sold...
by HereToLearn
Mon Aug 05, 2019 9:27 pm
Forum: Personal Consumer Issues
Topic: Long Island NY housing
Replies: 41
Views: 2893

Re: Long Island NY housing

I posted the school profile for each of the three towns being considered. The profiles list all of the data you outlined above, other than drug issues. For anyone trying to evaluate a school system, the HS profile is the best place to start. It is an imperfect tool, and not always readily available...
by HereToLearn
Mon Aug 05, 2019 9:40 am
Forum: Personal Consumer Issues
Topic: Long Island NY housing
Replies: 41
Views: 2893

Re: Long Island NY housing

Absolutely not, LI has some of the best public schools in the US. NYC is ok, not in same league. NJ has some of the best public schools in the US as well, but what does that really mean? Not much, the same goes with LI. The high property taxes are a function of municipal taxes, county taxes and sch...
by HereToLearn
Sat Aug 03, 2019 9:13 pm
Forum: Personal Consumer Issues
Topic: Long Island NY housing
Replies: 41
Views: 2893

Re: Long Island NY housing

That was my fear that Garden City schools put too much emphasis on athletics in stead of science in comparison to other two school districts. Now I have to look at it all over again. Sorry! Hopefully someone with firsthand knowledge will weigh in. I am basing my observations on the info provided in...
by HereToLearn
Sat Aug 03, 2019 8:36 pm
Forum: Personal Consumer Issues
Topic: Long Island NY housing
Replies: 41
Views: 2893

Re: Long Island NY housing

Assuming you are in it for the long haul, here are the graduating class profiles for the local high schools. Garden City: https://www.gardencity.k12.ny.us/site/handlers/filedownload.ashx?moduleinstanceid=13960&dataid=9915&FileName=2018GCHSPROFILE%20.pdf Manhasset: https://www.manhassetschools.org/Pa...
by HereToLearn
Fri Aug 02, 2019 1:15 pm
Forum: Personal Consumer Issues
Topic: 'Gas Card' for teen - best option?
Replies: 29
Views: 1395

Re: 'Gas Card' for teen - best option?

I would call your CC company and have them issue a card to him as an authorized user as this will help establish his credit rating. He will probably want his now CC before heading off to college, so starting with one under your account will provide some credit history.
by HereToLearn
Thu Jul 25, 2019 10:20 am
Forum: Personal Finance (Not Investing)
Topic: 529 Details
Replies: 33
Views: 2956

Re: 529 Details

There is a misunderstanding here. The only issue that is open to even a remote uncertainty is who has the gift tax reporting liability when a 529 is rolled over to a younger generation. There is absolutely no income tax or gift tax issue with rolling over between "family members" (siblings, cousins...
by HereToLearn
Wed Jul 24, 2019 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Details
Replies: 33
Views: 2956

Re: 529 Details

The internet consensus is that you can change the beneficiary to someone else in the same generation as the original beneficiary without gift tax consequences. If you change it to someone else in a different generation, it is treated as a gift but it is not clear whether the gift is from the owner ...
by HereToLearn
Wed Jul 24, 2019 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Getting money from a 529
Replies: 45
Views: 3088

Re: Getting money from a 529

This is a great thread on best practices for 529s How do you handle off campus living? Rent is easy to handle. What about food expenses? Also, if you are taking using AOTC and 529, how do you keep it clear that money paid is from 529 and not? To make it very clear for the purposes of AOTC, I have t...
by HereToLearn
Wed Jul 24, 2019 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: Getting money from a 529
Replies: 45
Views: 3088

Re: Getting money from a 529

So, am I correct in thinking that the general understanding is that it's fairly safe to withdraw from a 529, via check to the parent, up through at least the end of December of the year the expense was incurred? My specific concern is that I paid some (to the uni) back in January for the spring sem...
by HereToLearn
Tue Jul 23, 2019 9:52 pm
Forum: Personal Consumer Issues
Topic: Best way to create a Lego Inventory
Replies: 19
Views: 1515

Re: Best way to create a Lego Inventory

The goal is to know what I have. They’re in a million ziplock bags (pieces plus instructions), then in a handful of large bins. Maybe get to the point of knowing what’s in each bin. It’s partly just having the list for the sake of having the list, partly sentimental, and partly so I can remind myse...
by HereToLearn
Mon Jul 22, 2019 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: HSBC checking bonus
Replies: 14
Views: 1026

Re: HSBC checking bonus

HSBC is the go-to back for money launderers and drug cartels outside of the US. Netflix had a great documentary on it last year. My mom had an account there where she was collecting her UK pension. She couldn't figure out how to login so I was the defacto operator in the account. Nothing I saw abou...
by HereToLearn
Sun Jul 21, 2019 2:44 pm
Forum: Personal Consumer Issues
Topic: CD music to iMac MojaveOS no CD drive
Replies: 14
Views: 852

Re: CD music to iMac MojaveOS no CD drive

I had an older Apple external CD drive, and it is still available for sale on their own site.

I have not had any problems with it, and use it very infrequently.
by HereToLearn
Sun Jul 21, 2019 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Undo Joint Account with Parents?
Replies: 38
Views: 2747

Re: Undo Joint Account with Parents?

If you are sued the person suing you could take all the money in the joint account. In case of a divorce your spouse could claim a share of the joint account in the divorce settlement. To the plaintiff against you in liability or divorce your parent's money now becomes available as if it were yours...
by HereToLearn
Sun Jul 21, 2019 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Undo Joint Account with Parents?
Replies: 38
Views: 2747

Re: Undo Joint Account with Parents?

goofed this up. At my father's request, we added me to their bank accounts for all the typical reasons (monitoring for issues, assist with paying bills once he's no longer able, etc.). We did the same thing, Father was terminal and added me to both banks and all accounts. We started thinking/googli...
by HereToLearn
Fri Jul 19, 2019 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Undo Joint Account with Parents?
Replies: 38
Views: 2747

Re: Undo Joint Account with Parents?

I would not be stressed about it. It is probably fine. Many people just add the adult child as another account owner with no negative consequences. However, there can be unintended consequences or complications when done this way. That is why it is “cleaner”, and usually preferred, to leave the acc...
by HereToLearn
Fri Jul 19, 2019 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Getting money from a 529
Replies: 45
Views: 3088

Re: Getting money from a 529

In pattern and practice the IRS has been known to send a CP-2000 Notice if the 1099-Q exceeds the 1099-T. For folks who live off-campus, the 1098-T never includes room & board which are certainly 529 eligible expenses. So our 529 withdrawals have always been larger than the 1098-T without any issue...
by HereToLearn
Fri Jul 19, 2019 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Getting money from a 529
Replies: 45
Views: 3088

Re: Getting money from a 529

In pattern and practice the IRS has been known to send a CP-2000 Notice if the 1099-Q exceeds the 1099-T. For folks who live off-campus, the 1098-T never includes room & board which are certainly 529 eligible expenses. So our 529 withdrawals have always been larger than the 1098-T without any issue...
by HereToLearn
Fri Jul 19, 2019 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Getting money from a 529
Replies: 45
Views: 3088

Re: Getting money from a 529

The school DS is interested in said that they prefer people have the 529 checks issued to themselves, and then pay the school. They said they have problems with lag in getting the funds from the 529 administrators and sometimes there are issues with matching the check with the correct account. They...
by HereToLearn
Thu Jul 18, 2019 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Getting money from a 529
Replies: 45
Views: 3088

Re: Getting money from a 529

I have the 529 administrator issue a check to my son's university and mail it to my home so that I can include the paper remittance form. I suppose that I could ask the 529 administrator to print out and include the remittance form, but I don't want to take the risk. I have a check cut to myself for...
by HereToLearn
Thu Jul 18, 2019 9:14 am
Forum: Personal Consumer Issues
Topic: gift for a college bound niece
Replies: 12
Views: 599

Re: gift for a college bound niece

I have one college student who refuses to use Apple products and another who only uses Apple products, so it really is a matter of personal preference. Regardless of the brand/model, I would suggest she purchase Personal Property Insurance through whichever carrier her university suggests. $100 annu...
by HereToLearn
Wed Jul 17, 2019 11:15 am
Forum: Personal Consumer Issues
Topic: How Much- Installation Roman Shade (Window Treatment)
Replies: 4
Views: 441

Re: How Much- Installation Roman Shade (Window Treatment)

Can you find out how much Home Depot would charge if you had purchased from them? Just to provide a benchmark. When I have had roman shades made up, the person who made the shades came out to measure, made them, and returned to install, for one set price per shade. I hired my handyman to install woo...
by HereToLearn
Tue Jul 16, 2019 10:14 pm
Forum: Personal Finance (Not Investing)
Topic: College cost prediction and savings for 5, 3, and newborn
Replies: 102
Views: 5997

Re: College cost prediction and savings for 5, 3, and newborn

My children's tuition, room & board costs have increased between 3.5 & 3.75 for the past six years that I have been paying. Agree with those who commented that it is not easy for a student to establish residency. There are a few states that do make it easy, but most do not allow. Alabama continues t...
by HereToLearn
Mon Jul 15, 2019 2:02 pm
Forum: Personal Investments
Topic: Grandparent 529s
Replies: 29
Views: 2259

Re: Grandparent 529s

To drill down further...Does this all assume that only one student is attending college at one time? Would child 1's grandparent-owed 529 distributions impact child 2's FA award? Parental assets include all 529 plans of all children. Third party 529 distributions and other gifts are only untaxed in...
by HereToLearn
Mon Jul 15, 2019 12:03 pm
Forum: Personal Investments
Topic: Grandparent 529s
Replies: 29
Views: 2259

Re: Grandparent 529s

Keep in mind the rules regarding FAFSA financial aid, if the parents/students will be eligible. 529 accounts owned by one of the parents or student are considered parental assets and assessed at a maximum rate of 5.64% for purposes of the FAFSA Expected Family Contribution (EFC). Distributions are ...
by HereToLearn
Sat Jul 13, 2019 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Financing my daughter's college with my 401K
Replies: 60
Views: 3823

Re: Financing my daughter's college with my 401K

vineviz wrote:
Sat Jul 13, 2019 10:09 am
Tamarind wrote:
Sat Jul 13, 2019 9:13 am
I'd suggest you cash flow what you can, and have her borrow the rest.
I agree, this is the only sensible way forward I see.
Students can only borrow $5500 the first year, increasing by $500/year. Any amount in excess of that is a parent loan.
by HereToLearn
Mon Jul 08, 2019 10:49 am
Forum: Personal Consumer Issues
Topic: DIY Home Security like Ring and SimpliSafe vs paid services like ADT and Rampart. What do you advise for and/or against?
Replies: 29
Views: 2656

Re: DIY Home Security like Ring and SimpliSafe vs paid services like ADT and Rampart. What do you advise for and/or agai

I have ADT and agree about their three year lock-in once you install their 'free' equipment. Once my three year term is up, I will investigate SimpliSafe & Ring. I have a LOT of windows and doors so had to purchase several sensors beyond their 'free' package. I also added a free-standing keypad for ...
by HereToLearn
Thu Jul 04, 2019 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Best cash-back credit card right now?
Replies: 116
Views: 20157

Re: Best cash-back credit card right now?

If you don't want to play games, just use Citi doublecash. If you play games for fun and profit.....first, don't use an Amex anything for manufactured spending as they'll shut you down immediately. Citi Double cash is a good background card. HSPC card for the first 6 months is better, if you can fi...
by HereToLearn
Mon Jul 01, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Hospice, home health aide, taxes questions
Replies: 24
Views: 1602

Re: Hospice, home health aide, taxes questions

... My mother was in the NY metro area, and agencies charged $27/hour. ,,, That sounds about right. However, the caregiver only gets about half of that. Based on the experience of someone I know, the better caregivers prefer to work without agencies, for a price somewhere in between what the agenci...