Search found 24 matches

by Hope
Fri Aug 16, 2019 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Are you refinancing now?
Replies: 73
Views: 6794

Re: Are you refinancing now?

I just locked with my local credit union 15 year fixed 2.875% rate w/$170 for 0.099% points for $172K loan on $285K value. They said their system says appraisal should be waived so closing costs with w/o appraisal fee + their lender credit should be $1,263 which I'll pay out of pocket. Currently ha...
by Hope
Wed Aug 14, 2019 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance!!! Go or No Go??
Replies: 18
Views: 2029

Re: Refinance!!! Go or No Go??

Thanks everyone for sharing your insights. I have tried to answer most of your suggestions and would like to continue figuring out a way forward that makes sense in my situation. You're paying 2.875% in closing costs :shock: See if they will provide any credits towards closing costs. If your goal is...
by Hope
Tue Aug 13, 2019 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: Are you refinancing now?
Replies: 73
Views: 6794

Re: Are you refinancing now?

BlueCable wrote:
Mon Aug 12, 2019 12:41 pm
Just signed for a 15 year at 2.875% at a state-wide credit union.
Thats an amazing rate.
seawolf21 wrote:
Mon Aug 12, 2019 1:35 pm
Currently locked for a 15-year 3% no cost.
Wow, Can you please share the lender name? Would love this rate.
by Hope
Tue Aug 13, 2019 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance!!! Go or No Go??
Replies: 18
Views: 2029

Refinance!!! Go or No Go??

I am into second year of a 20 year mortgage @ 4% with currently $175k balance. A credit union has offered a 15 year mortgage at 3% with zero points. This refinance cost is estimated to be at $5k. I am having a hard time crunching the numbers to determine if its worth moving forward with the refinanc...
by Hope
Sun Mar 10, 2019 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Need Advice on 2018 & Beyond Tax Liability for First Time Self Employed!
Replies: 5
Views: 475

Re: Need Advice on 2018 & Beyond Tax Liability for First Time Self Employed!

I am told 60k was the salary as an employee on 1099 from s corp.... could be a W2 but I dont see it (W2) in the return.
by Hope
Thu Mar 07, 2019 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Need Advice on 2018 & Beyond Tax Liability for First Time Self Employed!
Replies: 5
Views: 475

Re: Need Advice on 2018 & Beyond Tax Liability for First Time Self Employed!

Thanks for your comment. There is a 1099 as an employee of the s-corp for 61.5k on schedule C.
So upping SEP contribution would be the only option here?? Beyond 30k, it wasn't giving me much relief in taxes.
by Hope
Wed Mar 06, 2019 9:26 pm
Forum: Personal Finance (Not Investing)
Topic: Need Advice on 2018 & Beyond Tax Liability for First Time Self Employed!
Replies: 5
Views: 475

Need Advice on 2018 & Beyond Tax Liability for First Time Self Employed!

I started a service oriented business last year,after leaving a full time job, and registered an S-Corp (single member) for business/tax purposes. I was just now hit with a shocker on how much taxes I owe for 2018. I am no tax expert so here I am asking questions in layman's terms. As everyone, woul...
by Hope
Mon Feb 04, 2019 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA Rollover to Solo 401(k), Strategy Questions
Replies: 3
Views: 218

Re: SEP IRA Rollover to Solo 401(k), Strategy Questions

I would contribute to the IRA for 2018, open a solo 401k in 2019, and rollover all the IRA funds into the solo 401k. That assumes all the IRA funds are tax deductible contributions because you cannot rollover non-deductible IRA contributions into the 401k. Then, you can do backdoor Roth contributio...
by Hope
Sun Feb 03, 2019 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: SEP IRA Rollover to Solo 401(k), Strategy Questions
Replies: 3
Views: 218

SEP IRA Rollover to Solo 401(k), Strategy Questions

I think this is the right forum for my question. 2018 was my first year working as an independent contractor through an S-Corp of which I am the sole proprietor. I ended up working majority of the year in such capacity and through my S-Corp. Very late in the game I realized I should make contributio...
by Hope
Thu Dec 21, 2017 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 69695

Re: Tax Bill Omnibus Thread

Can anyone help explain whether an employee working via a pass through (S-Crop to be exact) be able to deduct unreimbursed expenses? I do IT contracting and wondering whether expense incurred for a training required for the job will qualify for deduction in 2018?

Thanks.
by Hope
Wed Dec 20, 2017 9:41 pm
Forum: Personal Investments
Topic: Thoughts on 401K plans for Self-Employed Independent Consultant
Replies: 7
Views: 622

Re: Thoughts on 401K plans for Self-Employed Independent Consultant

^ Wait... Do you manage your own 401k...I mean do you choose what stocks/funds to invest into? Not sure if I am knowledgeable enough to do it efficiently.. And also wouldnt have time to actively watch/follow those stocks.. i am looking for more of a hands off approach to a 401k .
by Hope
Wed Dec 20, 2017 9:23 pm
Forum: Personal Investments
Topic: Thoughts on 401K plans for Self-Employed Independent Consultant
Replies: 7
Views: 622

Re: Thoughts on 401K plans for Self-Employed Independent Consultant

Looks like individual/solo 401(k) lets you contribute more than SEP IRA. Will be looking at picking up the institutions for doing so.
by Hope
Wed Dec 20, 2017 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: How much did you contribute to your 401k in 2017?
Replies: 155
Views: 13926

Re: How much did you contribute to your 401k in 2017?

1) Max + Employer match.
2) 36
by Hope
Tue Dec 19, 2017 11:46 am
Forum: Personal Investments
Topic: Thoughts on 401K plans for Self-Employed Independent Consultant
Replies: 7
Views: 622

Thoughts on 401K plans for Self-Employed Independent Consultant

I will be working as an independent contractor in Jan 2018. I already have a newly set up S-corp that I will be working through. I am looking into 401k plans for self employed individuals and trying to get my head around the options that may or may not be available as 401 k plans. One such plan I br...
by Hope
Wed Dec 28, 2016 6:36 pm
Forum: Personal Finance (Not Investing)
Topic: Long Island Real Estate Market in 2017!!
Replies: 2
Views: 1071

Long Island Real Estate Market in 2017!!

I am a perspective buyer in the Long Island (Nassau County) area – Valley Stream , Lynbrook, Hewlett etc. I have been on looking for a house for the past few months. I have been noticing houses’ prices spike up pretty fast along with the interest rates recently. Is it true when the interest rates go...
by Hope
Mon Mar 07, 2016 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Tax Saving Advice and Guidance for a Newbie
Replies: 5
Views: 888

Re: Tax Saving Advice and Guidance for a Newbie

Does your state have income tax and would allow you to deduct contributions to a 529? Roth IRA won't save taxes now. 401(k) at your income should be maxed out. Some on this forum would say both of you should max them out. If you have an HSA, you can max that out and save on State and FICA taxes as ...
by Hope
Sun Mar 06, 2016 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Saving Advice and Guidance for a Newbie
Replies: 5
Views: 888

Tax Saving Advice and Guidance for a Newbie

Combined income for 2016 is estimated to be ~ 160k. What are some of the things I can do to lower my taxes. I am contributing 10% towards my employer 401k plan. She doesn’t contribute towards 401k but plans to. Both of us don’t contribute to a Roth. We plan to buy a house in a year or two from now i...
by Hope
Sun Feb 07, 2016 12:27 pm
Forum: Personal Consumer Issues
Topic: Costco Whole Lamb: 9 Month Old Frozen Meat
Replies: 13
Views: 6758

Re: Costco Whole Lamb: 9 Month Old Frozen Meat

Thanks for the USDA link. It appears that this frozen lamb should be safe to eat even after 9 months. My next question is how safe is to thaw this meat for a few hours, cut and then refreeze. Usually when I buy this lamb, I would give it to my local butcher, who would put it in his freezer (which I ...
by Hope
Sat Feb 06, 2016 10:42 pm
Forum: Personal Consumer Issues
Topic: Costco Whole Lamb: 9 Month Old Frozen Meat
Replies: 13
Views: 6758

Costco Whole Lamb: 9 Month Old Frozen Meat

So today I went to Costco to buy whole lamb. I looked at the tag in detail and realized the slaughter date (this is halal lamb) on this lamb is May 08, 2015. There was no ‘Sell by’ date to be found anywhere on the two tags attached to the lamb. Spoke with an employee and didn’t get a convincing answ...
by Hope
Wed Jul 15, 2015 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Do you use Mint.com?
Replies: 26
Views: 3685

Re: Do you use Mint.com?

I understand that some folks find it uncomfortable giving out their financial institutions' passwords to a website like mint. Mint is owned by intuit which is a reputable company. On the same note, Mint has notified me on several occasions about unauthorized transactions that i was able to resolve/f...
by Hope
Wed Jul 15, 2015 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Do you use Mint.com?
Replies: 26
Views: 3685

Re: Do you use Mint.com?

I use the mint app and find it very very helpful in managing and tracking my budget/$$.
I have been an active mint user for over 6 years now. Love this free service.
by Hope
Wed Jul 15, 2015 8:44 pm
Forum: Personal Consumer Issues
Topic: Stamp Collection
Replies: 6
Views: 1023

Re: Stamp Collection

I collect stamps and have a decent collection. I would love to take some and include it in my collection. Diversity of collection is always appreciated hehe
by Hope
Wed Jul 15, 2015 8:38 pm
Forum: Personal Consumer Issues
Topic: The " Corolla" investment....
Replies: 51
Views: 8419

Re: The " Corolla" investment....

Just bought a 2009 Corolla with 85k miles on it for about 6800$ with good engine and decent cosmetic condition. I am hoping it lasts along time and easier to maintain.
You guys think it was a good deal?
by Hope
Tue Dec 30, 2014 3:11 pm
Forum: Personal Investments
Topic: Alternatives to MINT.com
Replies: 36
Views: 10502

Re: Alternatives to MINT.com

I have been using mint for over 6 years now. I have found it to be probably the best tool to keep track of your budget and day-to-day expenses. I briefly used yodlee but its not on par with mint in terms of features, ease of use (both website and mobile app) and support. I agree with others that its...