Search found 230 matches
- Tue Apr 20, 2021 12:00 am
- Forum: Personal Finance (Not Investing)
- Topic: Skip $10.5k Dependent Care FSA to get $8k Child Care Tax Credit @ 50% daycare expenses in 2021?
- Replies: 130
- Views: 18647
Re: Skip $10.5k Dependent Care FSA to get $8k Child Care Tax Credit @ 50% daycare expenses in 2021?
My head is spinning around this now. Here is our situation, if anyone can tell me whether we should max out the $10,500 that would be great. We've already elected to contribute $5000 to DCFAS. Married Filing jointly. Pa tax 3. 07% Have to Pay FICA 2020 tax year AGI $172,000 (that's after the DCFAS contribution in 2020). We expect same income in 2021. Two kids total day care cost $16500 (one is $11000, the other $5500). Should we max out or stay with $5000 DCFAS? thank you very much. If you aren't trying to lower your AGI any other way, then an AGI of 172k phases out the DC Tax Credit to be only a 26% recovery rate. Your tax rate of Fed + State + FICA = 24% + 3.07% + 7.65% = 34.72% You will get a greater benefit out of avoiding the taxes co...
- Mon Apr 19, 2021 10:25 pm
- Forum: Personal Finance (Not Investing)
- Topic: Skip $10.5k Dependent Care FSA to get $8k Child Care Tax Credit @ 50% daycare expenses in 2021?
- Replies: 130
- Views: 18647
Re: Skip $10.5k Dependent Care FSA to get $8k Child Care Tax Credit @ 50% daycare expenses in 2021?
My head is spinning around this now.
Here is our situation, if anyone can tell me whether we should max out the $10,500 that would be great. We've already elected to contribute $5000 to DCFAS.
Married Filing jointly. Pa tax 3. 07%
Have to Pay FICA
2020 tax year AGI $172,000 (that's after the DCFAS contribution in 2020). We expect same income in 2021.
Two kids total day care cost $16500 (one is $11000, the other $5500).
Should we max out or stay with $5000 DCFAS? thank you very much.
Here is our situation, if anyone can tell me whether we should max out the $10,500 that would be great. We've already elected to contribute $5000 to DCFAS.
Married Filing jointly. Pa tax 3. 07%
Have to Pay FICA
2020 tax year AGI $172,000 (that's after the DCFAS contribution in 2020). We expect same income in 2021.
Two kids total day care cost $16500 (one is $11000, the other $5500).
Should we max out or stay with $5000 DCFAS? thank you very much.
- Sun Jul 12, 2020 11:34 am
- Forum: Personal Finance (Not Investing)
- Topic: Virtual currency sold in 2018
- Replies: 7
- Views: 835
Re: Virtual currency sold in 2018
I used it as an investment when I purchased the virtual currency. I didn't receive a form 1099 from them. I downloaded a "gain/loss report" from their website. It didn't explicitly say is a 1099, but has the cost basis and sold price, total gain/loss listed. So I guess I will have to amend my 2018 tax return and just report it on 8949 using the "gain/loss report"? Thanks.
- Sat Jul 11, 2020 6:33 pm
- Forum: Personal Finance (Not Investing)
- Topic: Virtual currency sold in 2018
- Replies: 7
- Views: 835
Re: Virtual currency sold in 2018
Thanks for the info.
I currently do not own any virtual currency. It was sold in 2018. The $500 is in cash and still in the Coinbase website.
I currently do not own any virtual currency. It was sold in 2018. The $500 is in cash and still in the Coinbase website.
- Sat Jul 11, 2020 10:56 am
- Forum: Personal Finance (Not Investing)
- Topic: Virtual currency sold in 2018
- Replies: 7
- Views: 835
Virtual currency sold in 2018
I sold some virtual currency at a loss of $300 in 2018 (bought for $800 sold for $500). I did not know how to use wallet to take out the $500 so it is still sitting at the Coinbase account. I forgot to report the loss in my 2018 tax return. Do I have to amend my 2018 tax return to report the loss? Do I have to report again when I take out the money from coinbase?
The 2019 tax returns asks about virtual currency transaction.. Which I believe has nothing to do with my 2018 transaction?
Thank you for your help.
The 2019 tax returns asks about virtual currency transaction.. Which I believe has nothing to do with my 2018 transaction?
Thank you for your help.
- Tue Dec 31, 2019 11:39 am
- Forum: Personal Investments
- Topic: Realized loss, should I sell some gain?
- Replies: 2
- Views: 222
Realized loss, should I sell some gain?
So back in May I sold stock ABC at a loss of $10k (I had held this stock for 6 months before the sell) . Due to the recent gain in the stock market, one of my ETF has a gain of $10k (I have held this ETF for more than a year) . Should I sell the ETF today so that I can avoid paying capital gain in the future? How long do I have to wait to buy back the ETF to avoid it being a wash sale? Please advice. Thank you.
- Tue Aug 28, 2018 2:33 pm
- Forum: Personal Consumer Issues
- Topic: Summer Day A/C Issues
- Replies: 41
- Views: 2977
Re: Summer Day A/C Issues
Our old 15-20 year old ac can only work with very porous filters. The only thing that works is the 30day ez flow air filters. If we use any higher grade filter the ac can't cool down the inside lower than 78F.
- Sat Aug 04, 2018 5:42 pm
- Forum: Personal Finance (Not Investing)
- Topic: Do you think I am being too conservative on buying a house?
- Replies: 46
- Views: 4989
Re: Do you think I am being too conservative on buying a house?
This.Dottie57 wrote: ↑Fri Aug 03, 2018 5:54 pm Whatever and whenever you do, buy a house you can pay for on just your income. Wife may want to stay home. If you buy a forever home, she may need to work full time.
Scale the wedding way down. Save money for the house. Stop paying extra on home. Get rid ofother loans asap.
If you want 2 to 3 kids, one of you may become a stay at home parent because day cares are expensive. I would not feel comfortable to but a house 4x our household income.
- Fri Jul 27, 2018 12:49 pm
- Forum: Personal Finance (Not Investing)
- Topic: Decision for Stay at Home Wife?
- Replies: 84
- Views: 5964
Re: Decision for Stay at Home Wife?
Wow, appreciate all of the quick feedback on this. I haven't had the honest conversation with my wife yet, but just wanted to have this as an option in the back of my mind in case she does want to go that route. I get the "feeling" that she wants to be a SAHM based on her asking if she could take the 4 week unpaid leave prior to the due date and always saying she is "tired of working". She definitely works hard and is self-motivated, but I think if she had the option to be SAHM, she would take that in a heart beat but time will tell when we have that discussion. What I don't want to happen is that she becomes a SAHM and just becomes "lazy" where she is taking care of the kid, but just staying in the house watc...
- Sun Jul 22, 2018 7:08 am
- Forum: Personal Consumer Issues
- Topic: Suggestions About Simulating Homemade Chicken Stock
- Replies: 28
- Views: 2222
Re: Suggestions About Simulating Homemade Chicken Stock
Make soup/stock outdoor in the summer. We tried with a propane stove but when you turn the fire to low it can easily got blow off by the wind. So we are thinking about getting a induction cooker for about $50.
- Mon May 21, 2018 2:02 pm
- Forum: Personal Investments
- Topic: Newly widowed, how do I invest 1.5 million life ins. proceeds
- Replies: 72
- Views: 10744
Re: Newly widowed, how do I invest 1.5 million life ins. proceeds
Sorry for your loss. Ally bank has a no penalty cd (1.5% interest rate). You can open a few of those. Whenever you feel ready you can withdraw from your cds and invest. All the best to you and your family at this difficult time.
- Tue Mar 27, 2018 8:52 am
- Forum: Personal Finance (Not Investing)
- Topic: House Purchase - Sanity Check On Financials
- Replies: 53
- Views: 5766
Re: House Purchase - Sanity Check On Financials
I am a little surprised with the majority saying this can't be afforded. It certainly is pushing it, but OP is still talking about a mortgage that would be ~2.5x his gross income. I realize many here like that number to be closer to 2.0x income, but this isn't that crazy, is it? It's not the mortgage vs. income so much as value of house vs. net worth. But really, why should that matter much? If the OP's net worth was $400k vs what it is now, would that make the answer different? I guess I'm just thinking that if he can afford the mortgage from a monthly perspective and overall debt load perspective, isn't the primary relevant fact whether the income is relatively stable? It makes a huge difference OP needs to play a little “catch up” on hi...
- Wed Feb 21, 2018 9:04 am
- Forum: Personal Consumer Issues
- Topic: When is Costco cash back coupon arriving?
- Replies: 23
- Views: 19373
Re: When is Costco cash back coupon arriving?
Got ours a month ago
- Fri Feb 02, 2018 11:28 pm
- Forum: Personal Consumer Issues
- Topic: Substitute for taking a shower?
- Replies: 64
- Views: 9351
Re: Substitute for taking a shower?
Use a small towel (i.e. Hand towel) and a small bucket to take 1 to 2 gallon of water. Use towel to transfer water to wet your body, apply soap then use the towel to help you take water from bucket to clean away the soap. Dry up. Done.
- Mon Dec 25, 2017 10:05 pm
- Forum: Personal Consumer Issues
- Topic: Subaru Forester - Harsh ride
- Replies: 33
- Views: 11654
Re: Subaru Forester - Harsh ride
2014 forester. Noisy and harsh ride, but very good snow traction.
- Sat Dec 16, 2017 10:43 am
- Forum: Personal Consumer Issues
- Topic: Beefy Brothy Stocky Thing Advice
- Replies: 24
- Views: 3505
Re: Beefy Brothy Stocky Thing Advice
If you want your broth to taste good you have to have enough ingredients (bones, skin, meat) there to boil it for 4 hrs. A good broth IMHO would become a solid gel after it cools in the fridge.
- Tue Dec 12, 2017 12:06 pm
- Forum: Personal Consumer Issues
- Topic: Microwave - Reliable built-in with vent?
- Replies: 11
- Views: 1210
Re: Microwave - Reliable built-in with vent?
I had a similar problem with our over the range microwave few days ago. The frigidaire microwave would start when we closed the microwave door. Ours was manufactured in 2014. I look up the problem. It was most likely due to a faulty door switch. The switch costs $10. Without replacing the switch, i used a chop stick to poke on the door larch hole couple times until i can feel the switch pressed down and release. This seems to fix the problem temporarily. I may eventually have to replace the switch or replace the microwave.
- Sun Dec 10, 2017 8:25 pm
- Forum: Personal Consumer Issues
- Topic: Please suggest a dry hands product
- Replies: 82
- Views: 6406
Re: Good enough for cows, good enough for you
I just ordered something similar from Amazon called udderly smooth that was used on cows too.lthenderson wrote: ↑Fri Dec 08, 2017 1:01 pm+3! It does have a slight odor that reminds me of an old library.Broken Man 1999 wrote: ↑Fri Dec 08, 2017 10:21 amYou beat me to it.
Good product, I can't remember if it has an odor or not.
Broken Man 1999
- Mon Nov 27, 2017 8:46 pm
- Forum: Personal Investments
- Topic: Inheriting a large sum, slightly intimidated.
- Replies: 51
- Views: 7894
Re: Inheriting a large sum, slightly intimidated.
I think the other question you should ask is how do you protect your wealth. I am assuming you are a police officer because you love your job. How often do you have to use force (physically and use of a weapon) to subdue someone in your job? Will you get sued if someone is hurt by you or your partner? Good luck and be safe.
- Tue Nov 21, 2017 9:09 pm
- Forum: Personal Finance (Not Investing)
- Topic: Help DW gets fired, but then next day her boss offers her job back
- Replies: 156
- Views: 19878
Re: Help DW gets fired, but then next day her boss offers her job back
This. She doesn't have a lot of negotiation power since you have a tight budget. If she really negotiate she will most likely lose the offer with an irrational boss like that.lthenderson wrote: ↑Tue Nov 21, 2017 8:34 pm Normally I would say put the screws to the boss and demand more pay or something to offset the pay cut like more paid time off. But since you are $600/month upside down if she loses the job, I would probably go back to work for the pay cut and find another job asap. I would also be inclined to leave the minimal amount of notice for leaving once she has accepted a new job.
- Sun Nov 12, 2017 6:22 pm
- Forum: Personal Consumer Issues
- Topic: Warm Shirt for Winter
- Replies: 41
- Views: 6222
Re: Warm Shirt for Winter
Long fleece clothes, warm and inexpensive.
- Mon Sep 18, 2017 8:56 am
- Forum: Personal Investments
- Topic: My in-laws' nest egg of $50k
- Replies: 34
- Views: 5488
Re: My in-laws' nest egg of $50k
I think living in a condo has a high risk of increase in HOA fee that is beyond their control.
- Fri Jul 28, 2017 5:23 pm
- Forum: Personal Consumer Issues
- Topic: Best place to get eyeglasses / no vision insurance
- Replies: 94
- Views: 36348
Re: Best place to get eyeglasses / no vision insurance
Zenni. I bought the $7 frame with anti-reflective coating $4. Total $16 with shipping. So far so good.
- Wed Jul 26, 2017 4:48 pm
- Forum: Personal Finance (Not Investing)
- Topic: Post Nuptial agreement guaranteeing alimony?
- Replies: 113
- Views: 11127
Re: Post Nuptial agreement guaranteeing alimony?
Is OP living in a state where if they get divorced the assets are not split 50/50? Or is OP asking for more (i.e. 75%) of their wealth upon a divorce, thus the need for a post-nup?
- Mon Jul 24, 2017 9:20 pm
- Forum: Personal Consumer Issues
- Topic: How to organize toddler books
- Replies: 17
- Views: 2262
Re: How to organize toddler books
Good idea. Thanks.EagertoLearnMore wrote:Back in the days of Montessori preschool, they were very into organizational skills. It worked as the child that went to Montessori is very organized and neat. So, we went with the plastic crates you can get at Walmart that are light weight cubes. They come in various colors and you can stack the books either upright or on their sides for quick access to titles on the spines. Small books can lay flat. Nothing to fall over to cause a safety hazard. Montessori preferred individual baskets or bins for things, but I found that the crates were portable so you could take a crate from room to room for reading. As your book collection expands, buy more crates. They come in many colors to match your decor.
- Mon Jul 24, 2017 8:02 pm
- Forum: Personal Consumer Issues
- Topic: How to organize toddler books
- Replies: 17
- Views: 2262
Re: How to organize toddler books
Any links/examples of what they look like? Thanks.runner3081 wrote:We went with a "cubed" type of bookshelf. It looks like 5-6 cubes from the front and has book shelves/cubby holes for storage.
- Mon Jul 24, 2017 8:01 pm
- Forum: Personal Consumer Issues
- Topic: How to organize toddler books
- Replies: 17
- Views: 2262
Re: How to organize toddler books
Tried the book-ends. They always seem to be moved out of place and the books falling flats.aristotelian wrote:Could you get some book-ends to keep them up straight?
- Mon Jul 24, 2017 7:35 pm
- Forum: Personal Consumer Issues
- Topic: How to organize toddler books
- Replies: 17
- Views: 2262
How to organize toddler books
I am looking for suggestions on how to organize books for our toddler. Right now we have 4 big boxes (diaper box) of books. I don't want to use book shelves because some of those books are thin and paper backs very hard to keep them stay upright. Bookshelf with sling seems not enough space for all the books we have. Any suggestions? Thanks.
- Sat Jul 15, 2017 11:32 pm
- Forum: Personal Finance (Not Investing)
- Topic: Rent in safer neighborhood or buy in less safe one?
- Replies: 67
- Views: 7297
Re: Rent in safer neighborhood or buy in less safe one?
If you buy in the dangeous neighborhood, who will your kids be hangout with? Kids learn from their peers.
If you cannot afford a 250k house, how do you afford to send your kids to private school?
If you cannot afford a 250k house, how do you afford to send your kids to private school?
- Sat Jul 08, 2017 11:34 am
- Forum: Personal Finance (Not Investing)
- Topic: How much of an increase of salary would you expect before switching jobs?
- Replies: 94
- Views: 10261
Re: How much of an increase of salary would you expect before switching jobs?
You mentioned the new company just just bought out and things could change. Restructuring may happen soon after you move to the new company.
- Sat Jul 01, 2017 4:46 pm
- Forum: Personal Consumer Issues
- Topic: Buying house - Very important decision
- Replies: 228
- Views: 33407
Re: Buying house - Very important decision
Another 100k in housing price means $3000 into the realtor's pocket. They wouldn't care less you couldn't afford the house.
- Sun Jun 18, 2017 7:21 am
- Forum: Personal Finance (Not Investing)
- Topic: Unexpected raise while househunting-- should I change my budget?
- Replies: 21
- Views: 3965
Re: Unexpected raise while househunting-- should I change my budget?
You didn't mention what king of house you will get for 350k to 500k. That alone will dictate your lifestyle.
- Sat Jun 10, 2017 7:55 pm
- Forum: Personal Consumer Issues
- Topic: Fence Dilemma
- Replies: 31
- Views: 5049
Re: Fence Dilemma
We are in similar situations. When the time comes to replace the fence we will just replace it ourselves.
- Tue Jun 06, 2017 10:50 pm
- Forum: Personal Finance (Not Investing)
- Topic: Housing is too expensive.
- Replies: 49
- Views: 9899
Re: Housing is too expensive.
How much is rent for a 2 bedrm apt in the good school district? I think there was a thread that talked about 2 sibs sharing a bedrm. Look that up.
- Thu Jun 01, 2017 11:56 pm
- Forum: Personal Finance (Not Investing)
- Topic: I spend 6.1% of my Gross income on rent
- Replies: 80
- Views: 14593
Re: I spend 6.1% of my Gross income on rent
When we were renting rent and utilities were about 6-8% (1 bedrm then 2 bedrm) of our gross. With our own house we are at 11% with mortgage, ins, pro tax, and utilities. We had a 40% downpayment. 15 yr mortgage.
- Fri May 12, 2017 9:50 pm
- Forum: Personal Consumer Issues
- Topic: Do I have a problem in the backyard in need of a professional?
- Replies: 34
- Views: 6526
Re: Do I have a problem in the backyard in need of a professional?
Some mouse dig holes in the ground. Don't know if thats what you have.
- Sat Apr 22, 2017 11:59 am
- Forum: Personal Finance (Not Investing)
- Topic: Should some professions tell people how much they make?
- Replies: 39
- Views: 7042
Re: Should some professions tell people how much they make?
You keep talking about your "young, short, cute guy" look. Being a cute guy is fine but showing off that is another story. Try to lay off your I am a young and cute guy mentality and show results then your clients would no drop you.
- Sun Apr 16, 2017 7:01 pm
- Forum: Personal Finance (Not Investing)
- Topic: Is spending 15K to furnish home too much?
- Replies: 39
- Views: 18149
Re: Is spending 15K to furnish home too much?
Less than $3000 for the whole house (beds, sofa, dinning table, dishes, drapes etc.). Almost everything new from Ikea. Nothing fancy but everything works for us.
- Tue Apr 11, 2017 9:52 am
- Forum: Personal Investments
- Topic: Terminal diagnosis. Single parent. Plan for child.
- Replies: 11
- Views: 3022
Re: Terminal diagnosis. Single parent. Plan for child.
Send the child a link to bogleheads. Have him/her spend 15 mins per day for 2 weeks.
Honestly, I can't think of a better place for your adult child to find better guidance about life and investments than here.
Honestly, I can't think of a better place for your adult child to find better guidance about life and investments than here.
- Mon Mar 27, 2017 2:28 pm
- Forum: Personal Finance (Not Investing)
- Topic: Child Planning Checklist
- Replies: 42
- Views: 5687
Re: Child Planning Checklist
On baby gear: you REALLY don't need that much. We never got a swing / rocker / bouncer and never felt the need for one. Our baby napped in his crib, in the middle of our bed (before he could move), or on a blanket on top of the living room rug. We also never got a baby monitor, as our home is small and there's no evidence that baby monitors reduce SIDS. Changing tables are another unnecessary item, just get a portable changing mat (skip hop makes a good one) and use that on any flat surface. And forget the bottle warmers and sterilizers - it's just as fast and easy to warm up a bottle in a bowl of hot water, you don't need more gadgets cluttering up your kitchen countertops. The only things you actually need for a baby are a carseat to go ...
- Thu Mar 23, 2017 9:14 pm
- Forum: Personal Finance (Not Investing)
- Topic: So someone drained $13k from my checking account...
- Replies: 150
- Views: 43979
Re: So someone drained $13k from my checking account...
What's more alarming is the the fraudster knows how much you have in your account. They didn't request transfer of a large sum that would get rejected. They requested transfer of an amount that just depleted your account. I don't think anyone just happened to know your bank account number be able to do that.
- Mon Mar 20, 2017 10:07 am
- Forum: Personal Finance (Not Investing)
- Topic: Wife going back to school. What financial steps should I take?
- Replies: 23
- Views: 2109
Re: Wife going back to school. What financial steps should I take?
+1. Most Ph.D programs takes longer than 3 years.flyingbison wrote:This is an important consideration. Does she know the average completion time for students in this program? If her funding is for 3 years, but it will potentially take 5 years, then you will need to plan for the additional cost.Ethelred wrote: ... and PhDs can often end up taking longer than planned.
I don't know much about the licensed psychologist career path. However, in order to become a professor she would need many publications. Plan for additional post-doc trainings in another university.
- Thu Mar 09, 2017 6:17 pm
- Forum: Personal Consumer Issues
- Topic: How Do You Share Expenses?
- Replies: 52
- Views: 6110
Re: How Do You Share Expenses?
If half of the utilities cost and property tax is what you want then tell her.
- Mon Mar 06, 2017 12:36 pm
- Forum: Personal Consumer Issues
- Topic: How often do you discuss finances and spending with your spouse?
- Replies: 60
- Views: 6082
Re: How often do you discuss finances and spending with your spouse?
We rarely talk about budget, because we are not big spenders. We spend what we need. We do talk about what we need to buy (more like "should we buy this Big ticket item"). I am the one usually makes the final decision. At the end of the year I will tell DH how much we have saved. He is not interested in the details. I've saved a file of where our bank accounts are in his computer in case I suffer a sudden death.
- Fri Feb 24, 2017 7:41 pm
- Forum: Personal Finance (Not Investing)
- Topic: Purchasing a new house -- Are we being stupid to consider it?
- Replies: 35
- Views: 6087
Re: Purchasing a new house -- Are we being stupid to consider it?
Is the housing market really as hot as you described that if you don't buy now you would be left behind? You have two houses. The townhouse is still going for less than when you bought in 2007. The rental has a negative cash flow. Doesn't sound too hot to me.
- Tue Feb 14, 2017 2:09 pm
- Forum: Personal Finance (Not Investing)
- Topic: Kids in Apartment Sharing Bedroom - Workable?
- Replies: 55
- Views: 5921
Re: Kids in Apartment Sharing Bedroom - Workable?
Keep the baby in your room if the toddler is affected by baby's night feeding.
I would not buy in a "less desirable location". In a few years you will be concerned about public schools in those less desirable locations.
I would not buy in a "less desirable location". In a few years you will be concerned about public schools in those less desirable locations.
- Tue Feb 07, 2017 10:14 am
- Forum: Personal Consumer Issues
- Topic: Insights for Long Distance Grandparents
- Replies: 23
- Views: 2424
Re: Insights for Long Distance Grandparents
This x1000.Gropes & Ray wrote:when my mother is in town, she cooks most of the meals, does our laundry, cleans the kitchen, etc. I'm not saying you have to play the part of the maid, but being a little less of a "guest" can be helpful.
Definitely visit in person. My kid loves to see the grands, but having them lending a helping hand and not expect us to entertain would be something much appreciated.
- Mon Feb 06, 2017 10:39 am
- Forum: Personal Finance (Not Investing)
- Topic: In-Laws Estate Planning - Wisdom Wanted
- Replies: 50
- Views: 4312
Re: In-Laws Estate Planning - Wisdom Wanted
"any land I owned"? How about your own house?
- Sat Feb 04, 2017 7:01 pm
- Forum: Personal Finance (Not Investing)
- Topic: GF has long commute, should we buy a house to avoid long commute?
- Replies: 62
- Views: 7590
Re: GF has long commute, should we buy a house to avoid long commute?
How much is childcare in your area? With income of $30k each, any one of you planning to be stay at home parent once you have 1 or 2 children?
- Sat Feb 04, 2017 4:35 am
- Forum: Personal Finance (Not Investing)
- Topic: GF has long commute, should we buy a house to avoid long commute?
- Replies: 62
- Views: 7590