Search found 139 matches

by lessismore22
Wed May 13, 2020 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: PPP received but not EIDL
Replies: 3
Views: 309

Re: PPP received but not EIDL

Do not re-apply. You are in the same boat as many, many small business owners who have received PPP but not EIDL.
by lessismore22
Wed May 13, 2020 2:21 pm
Forum: Investing - Theory, News & General
Topic: Will "work from home" destroy the commercial real estate market?
Replies: 169
Views: 13108

Re: Will "work from home" destroy the commercial real estate market?

Doubtful. I run a small business and offered all of my employees the option to work from home back in March. None of them took me up on it. Is it because they truly don't want to or is there another reason they don't? If I was in a small business, I wouldn't want to be the first one to raise my han...
by lessismore22
Wed May 13, 2020 10:47 am
Forum: Investing - Theory, News & General
Topic: Will "work from home" destroy the commercial real estate market?
Replies: 169
Views: 13108

Re: Will "work from home" destroy the commercial real estate market?

Doubtful. I run a small business and offered all of my employees the option to work from home back in March. None of them took me up on it.
by lessismore22
Tue May 12, 2020 9:39 am
Forum: Personal Finance (Not Investing)
Topic: PPP - Loss of Revenue
Replies: 20
Views: 1521

Re: PPP - Loss of Revenue

Jesa wrote:
Thu May 07, 2020 8:28 am
I am looking for thoughts on proving loss of revenue
It's the Paycheck Protection Program...not the Revenue Protection Program. If you follow the rules on maintaining payroll numbers your loan should have no problem being forgiven.
by lessismore22
Thu May 07, 2020 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing not to correct all billing/financial errors
Replies: 68
Views: 4598

Re: Choosing not to correct all billing/financial errors

Do you deliberately just let some things go because the dollar amounts involved are too small? All. The. Time. I actually make a habit of not looking at our restaurant bill when it comes. I just hand them my card if the balance seems in the ballpark. Drives my wife nuts. While I don't particularly ...
by lessismore22
Sat Apr 25, 2020 9:02 pm
Forum: Personal Consumer Issues
Topic: So what are you cooking
Replies: 267
Views: 15596

Re: So what are you cooking

Traeger in heavy use the last month. Incredible what that thing can do. We did a Greek flank roll tonight with a side of potatoes, onions, and carrots. All controlled from the WiFire app.
by lessismore22
Thu Apr 16, 2020 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Has your PPP loan been processed yet? Ours hasn’t been, and I'm getting concerned
Replies: 102
Views: 7491

Re: Has your PPP loan been processed yet? Ours hasn’t been, and I'm getting concerned

For those that have been approved and funded, how many employees do you have? I am wondering if the banks are going from large to small. I applied with BOA on day one, uploaded all documents, and have heard crickets since. Nobody over there can answer anything. I have 5 employees total. I have 6 em...
by lessismore22
Tue Apr 14, 2020 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

kgressler wrote:
Tue Apr 14, 2020 2:51 pm
I have read there are businesses that have received funding but none I know of? Anyone here get funding yet?
A number of my friends have received the funds(one major bank, the rest smaller regional). Mine is approved, waiting for loan docs to sign.
by lessismore22
Mon Apr 13, 2020 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: So you got your PPP loan now what?
Replies: 14
Views: 1430

Re: So you got your PPP loan now what?

abk3100 wrote:
Mon Apr 13, 2020 3:34 pm
tbill1 wrote:
Mon Apr 13, 2020 3:13 pm
I’m dumping into regular checking. As long as my 940 (for 8 weeks) = 75% of the loan. Should not be a problem
I can't imagine the banks want to deal with every PPP recipient setting up an 8-week temporary account to house these funds
+1
by lessismore22
Mon Apr 13, 2020 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: So you got your PPP loan now what?
Replies: 14
Views: 1430

Re: So you got your PPP loan now what?

The guidance I've received is that we'll need to submit documentation proving our payroll and FTEs didn't decline. That's it. I'm an S Corp with W2 employees, so that's pretty easy to do. In my case, it doesn't sound like the mechanics of the bank account(s) make much difference. I've been on calls ...
by lessismore22
Sat Apr 11, 2020 9:39 pm
Forum: Personal Investments
Topic: Ponzi Scheme?
Replies: 215
Views: 17365

Re: Ponzi Scheme?

mega317 wrote:
Sat Apr 11, 2020 5:35 pm
OP please return to the thread to update us
+1
by lessismore22
Fri Apr 10, 2020 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

I guess I can’t blame the guy but they should have written in a requirement that forces the borrower to demonstrate decreased revenues for the covered period at the time that loan forgiveness is calculated. I know that revenue for our business is down maybe 90% at this time and we hope that there w...
by lessismore22
Fri Apr 10, 2020 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: COVID-19 EIDL Loan Status?
Replies: 11
Views: 771

Re: COVID-19 EIDL Loan Status?

Wisconsin
by lessismore22
Fri Apr 10, 2020 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Term life insurance without an exam
Replies: 5
Views: 321

Re: Term life insurance without an exam

Not now after 'rona!

ETA: You should search for a recent post where members are discussing various changes to the life insurance landscape. Rates, underwriting, actuarial tables. Some good info in there.
by lessismore22
Fri Apr 10, 2020 8:48 am
Forum: Personal Finance (Not Investing)
Topic: COVID-19 EIDL Loan Status?
Replies: 11
Views: 771

Re: COVID-19 EIDL Loan Status?

I was on a call with our Governor and SOS yesterday where they stated EIDL payments should start hitting bank accounts next week.
by lessismore22
Fri Apr 10, 2020 6:49 am
Forum: Personal Investments
Topic: Blessing or Curse? EIDL vs PPP loan
Replies: 9
Views: 612

Re: Blessing or Curse? EIDL vs PPP loan

EIDL loan can be forgiven. Sba has not released the details on how to qualify for that yet. You can still apply and receive PPP. Need to use the two loans for separate expenses.
by lessismore22
Thu Apr 09, 2020 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: [Auto insurance companies issuing refunds due to coronavirus]
Replies: 101
Views: 6557

Re: [Auto insurance companies issuing refunds due to coronavirus]

I'm waiting to see how much The General is returning to its customers :wink:
by lessismore22
Thu Apr 09, 2020 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance Rates
Replies: 10
Views: 864

Re: Insurance Rates

If you were an insurer would you lower your rates because of a 2 month "blip" on the overall stats? Whether you stay at home or not, it should not effect your homeowner's whatsoever. Consider the lower gasoline bill & wear and tear on your vehicle as the insurance discount. +1 Looks like most of th...
by lessismore22
Thu Apr 09, 2020 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Capital One QuickSilver credit card limit
Replies: 36
Views: 1860

Re: Capital One QuickSilver credit card limit

I have the Quicksilver card with 18k limit. Had a different Capital One card for the past 10 years that had a similar limit, so I assume that's why I have it on this one. Credit Score - 800+ Income - Six figures Debt- Primary residence only
by lessismore22
Wed Apr 08, 2020 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

I know a small business owner that applied for this, and has had no decrease in his business. Doesn't know if he will get anything, but if you want free money, you must get in line. Give it a couple of months and stories will come out on how individuals and businesses are taking advantage of this h...
by lessismore22
Tue Apr 07, 2020 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

I have two friends in separate industries that both received their PPP approvals today. Both with mid-sized regional banks.
by lessismore22
Sun Apr 05, 2020 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

I know a small business owner that applied for this, and has had no decrease in his business. Doesn't know if he will get anything, but if you want free money, you must get in line. Give it a couple of months and stories will come out on how individuals and businesses are taking advantage of this h...
by lessismore22
Sat Apr 04, 2020 9:59 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

For those concerned about funds running out...both Pelosi and Trump have already stated they'll ask for more funds if the program needs it. Economists estimate the actual need at closer to 1 trillion. This is unprecedented, so it's no surprise it stumbled out of the gates on Friday. Borrowers and l...
by lessismore22
Sat Apr 04, 2020 9:21 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9540

Re: Cares Act Payroll Protection Program

I would include employer contributions to i401k's as well. Questionable, maybe. If you look at the definitions of payroll, under "employees" they include benefits like retirement plans. But they do not list these under sole proprietorship or contractors, who are not "employees." The worksheet my ba...
by lessismore22
Sat Apr 04, 2020 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

For those concerned about funds running out...both Pelosi and Trump have already stated they'll ask for more funds if the program needs it. Economists estimate the actual need at closer to 1 trillion. This is unprecedented, so it's no surprise it stumbled out of the gates on Friday. Borrowers and l...
by lessismore22
Sat Apr 04, 2020 6:44 pm
Forum: Investing - Theory, News & General
Topic: Cares Act Payroll Protection Program
Replies: 154
Views: 9540

Re: Cares Act Payroll Protection Program

I would include employer contributions to i401k's as well. Questionable, maybe. If you look at the definitions of payroll, under "employees" they include benefits like retirement plans. But they do not list these under sole proprietorship or contractors, who are not "employees." The worksheet my ba...
by lessismore22
Sat Apr 04, 2020 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

For those concerned about funds running out...both Pelosi and Trump have already stated they'll ask for more funds if the program needs it. Economists estimate the actual need at closer to 1 trillion. This is unprecedented, so it's no surprise it stumbled out of the gates on Friday. Borrowers and le...
by lessismore22
Sat Apr 04, 2020 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

I know a small business owner that applied for this, and has had no decrease in his business. Doesn't know if he will get anything, but if you want free money, you must get in line. Give it a couple of months and stories will come out on how individuals and businesses are taking advantage of this h...
by lessismore22
Fri Apr 03, 2020 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus help for small businesses, sole proprietors, s-corp etc
Replies: 627
Views: 32416

Re: Stimulus help for small businesses, sole proprietors, s-corp etc

I've heard from numerous banks that have stated they are not accepting PPP apps until Monday. The required underwriting documentation varies greatly. I don't think they have a good handle on what they need yet and are using today to digest the new information. I was on a call with SOS of my state ye...
by lessismore22
Fri Mar 27, 2020 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's oncologist has stopped treatment, is recommending hospice
Replies: 93
Views: 14801

Re: Wife's oncologist has stopped treatment, is recommending hospice

Our family’s thoughts with you during this time. Thank you for sharing your story here. Others will surely benefit from it.
by lessismore22
Wed Mar 25, 2020 9:31 pm
Forum: Investing - Theory, News & General
Topic: So bottom is probably behind us....right?
Replies: 709
Views: 63157

Re: So bottom is probably behind us....right?

How much confidence can really be put into the fact that the market has everything already priced in? I'm not sure where you're getting this notion that everything is already priced in. EMH: 1. Obviously doesn't apply to new info 2. Doesn't predict that the "pricing in" criteria that buyers and sel...
by lessismore22
Wed Mar 25, 2020 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Stimulus check from pandemic 2020
Replies: 37
Views: 3206

Re: Stimulus check from pandemic 2020

Hard to imagine they’d use 2019 as those aren’t due until July 15th now.
by lessismore22
Tue Mar 24, 2020 7:49 pm
Forum: Personal Investments
Topic: dead cat mouse
Replies: 56
Views: 5871

Re: dead cat mouse

This bounce seems to indicate that the market has not really priced this catastrophic event wisely. By end of this week when we have more cases than China, the bear will be back to devour. Never play with an angry bear. We've already seen six dead cat bounces this month. I trust today's spike about...
by lessismore22
Tue Mar 24, 2020 12:26 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 5919
Views: 501910

Re: U.S. stocks continue to soar!

The market is currently up 8%. Two days -- today and March 13th -- have given us 18% gains. Imagine all of the market timers out there who have missed just one of these days, and how much that will hurt their recovery from this crash in the long-term. Buy-and-hold is the only game in town. Well the...
by lessismore22
Sun Mar 22, 2020 7:08 pm
Forum: Personal Investments
Topic: How do I dollar cost average into stocks for long term?
Replies: 9
Views: 429

Re: How do I dollar cost average into stocks for long term?

goodoboy wrote:
Sun Mar 22, 2020 6:37 pm

I was thinking $10K in APPLE and $10K in XOM. Divide the $10K by 4 , $2.5K and install $2.5K every week for the next 4 week on a Friday. Then just hold.
I like it. Thumbs up.
by lessismore22
Thu Mar 19, 2020 7:52 pm
Forum: Personal Consumer Issues
Topic: Tipping in the time of Coronavirus
Replies: 39
Views: 3189

Re: Tipping in the time of Coronavirus

Normchad wrote:
Thu Mar 19, 2020 7:14 pm
I really dislike tipping.
I was a bartender in college and learned invaluable lessons that have helped me throughout my career. At $4.25/hr, I would have never been able to make it without tips.

I was a generous tipper(20%+) pre-coronavirus, and plan to increase that.
by lessismore22
Tue Mar 17, 2020 8:24 pm
Forum: US Chapters
Topic: How Is Your Job Being Impacted By The Current Crisis?
Replies: 505
Views: 50866

Re: How Is Your Job Being Impacted By The Current Crisis?

Insurance agency owner.

We have the office closed to the public. This will certainly impact my team members that work partly on new business commissions.
by lessismore22
Sun Mar 15, 2020 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: How accurate are bank appraisals?
Replies: 17
Views: 1252

Re: How accurate are bank appraisals?

I was in my friend’s house the other day while an appraiser was there for his refi. She flat out admitted they have enough info from the bank before they walk into the house that they know where the numbers need to be to make the deal work.
by lessismore22
Sun Mar 15, 2020 9:00 am
Forum: Personal Consumer Issues
Topic: Get a 2nd Refrigerator for Home, and put in garage - Good idea?
Replies: 88
Views: 4946

Re: Get a 2nd Refrigerator for Home, and put in garage - Good idea?

We have a beer fridge and a large stand up freezer in our garage. My wife’s family processes their own meat so we have 100-150 lbs frozen at any given time. Along with various frozen foods from Costco.
by lessismore22
Sat Mar 14, 2020 8:50 pm
Forum: Personal Consumer Issues
Topic: Buying a boat
Replies: 38
Views: 2205

Re: Buying a boat

atikovi wrote:
Sat Mar 14, 2020 7:51 am
Bust
Out
Another
Thousand
Original. And helpful to the OP, I’m sure.
by lessismore22
Sat Mar 14, 2020 4:31 pm
Forum: Personal Investments
Topic: My dad says I should pull out of the market before "they" steal it all
Replies: 113
Views: 8207

Re: My dad says I should pull out of the market before "they" steal it all

Your dad could be right if the Corona virus completely destroys democracy as we know it.

If it doesn't, you'll likely be miles ahead 20 years from now if you just stick with your 60/40 portfolio and keep contributing on a regular basis.
by lessismore22
Fri Mar 13, 2020 4:37 pm
Forum: Personal Consumer Issues
Topic: Buying a boat
Replies: 38
Views: 2205

Re: Buying a boat

I'm in the Midwest and surrounded by boat dealerships. Most of them advertise their used boats on Craigslist alongside the individual sellers. Makes for easy online shopping. Age of the boat isn't nearly as important as the engine. Our pontoon is almost 20 years old but still starts on the first tur...
by lessismore22
Thu Mar 12, 2020 1:45 pm
Forum: Investing - Theory, News & General
Topic: Get in now or wait a bit
Replies: 15
Views: 907

Re: Get in now or wait a bit

I'm typically not into market timing, but I don't see how the market does anything other than go down further. We are just now starting to close festivals, sports seasons, colleges, etc. The economic impact of that isn't felt immediately. I think there is a lot more pain coming in the weeks ahead. I...
by lessismore22
Thu Mar 12, 2020 12:10 pm
Forum: Investing - Theory, News & General
Topic: Well, I am market timing due to coronavirus... Wish me luck.
Replies: 1124
Views: 97751

Re: Well, I am market timing due to coronavirus... Wish me luck.

US economy is really large, 1% to 1.5% is a lot, it will take a lot more to make US GDP go down more. I agree though the scenario is based on US not getting shut down like Italy. If we get there then all bets are off. Reality is probably somewhere in the middle. I am optimistic the worst case scena...
by lessismore22
Tue Mar 10, 2020 7:29 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a home 3x income ?
Replies: 28
Views: 3160

Re: Buying a home 3x income ?

House price...but that depends on the trajectory of your HH income. Are you really good at your job? It's not out of line to stretch a bit if you're confident that total income will increase shortly. We bought our last house at 4.XXx our income. Worked out fine. Note: I do not fall into the camp of ...
by lessismore22
Mon Mar 09, 2020 4:36 pm
Forum: Investing - Theory, News & General
Topic: Who here is buying stocks today and how much?
Replies: 295
Views: 25692

Re: Who here is buying stocks today and how much?

Bought a chunk of VTSAX today. Have more ready to go if this week gets ugly.

ETA: Bought 2.5k today, 7.5k on 02/28
by lessismore22
Mon Mar 09, 2020 1:29 pm
Forum: Investing - Theory, News & General
Topic: Are any early accumulators thankful for the current correction?
Replies: 185
Views: 10212

Re: Are any early accumulators thankful for the current correction?

I try not to outwardly express joy in a market like this. However, I have 20 years left to invest and a big bonus hitting my bank account on Friday. I'd be fine with all RED this week.