25 September 2020 | 6 replies
@Lisa Kay common logic is what you are thinking and what is being repeated by our parents and co-workers.Rule #1... never take financial advice from those who are not FI and financial planners :P
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23 September 2020 | 0 replies
To me I think the technology and the ability to vet services easier with more trustworthy review engines has made it much easier now than it was for my grandparents or parents.
5 November 2020 | 7 replies
We have noticed that, even though classes are virtual, students don't want to go back home, and their parents are still ok helping them pay for the rental.
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24 September 2020 | 3 replies
I own a vending machine business(LLC) with my parents and we also, own a warehouse for the business as well and it is completely paid off.
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26 September 2020 | 6 replies
Another issue could be taxes depending on what you are doing with the LLC (I'm thinking any withholdings...).
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3 November 2020 | 5 replies
@Gary DavidTaking a distribution from your 401K can be great as you may not be responsible for the 10% penalty.If you plan to work a reduced workload, go back to school, or do many other things that lower your bracket, you may benefit from spreading the tax over 3 years.The thing that does suck about the distribution is that it is basically taxed at your marginal tax rate(Federal and State) depending on what your bracket is, it can be a lot.Regarding withholding - it is most likely the 0% or 10% option will likely make you pay a tax when you file your return in the following year.
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30 September 2020 | 10 replies
I have been living with my parents, and I saved roughly $45,000 to start my financial journey.
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24 September 2020 | 1 reply
The kicker is that residents on military bases often lacked basic rights renters can rely on in civilian communities, such as withholding rent from derelict landlords.These reports led to a Senatorial investigation by Elizabeth Warren and Congresswoman Deb Haaland that ultimately passed an overwhelmingly unanimous bill demanding the strict oversight of privatized military base property managers.
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24 September 2020 | 1 reply
Looks like it was owned by parents and the kids never went back to clean out.
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22 October 2020 | 7 replies
The IRS recently provided guidance regarding eligibility under the CARES Act and specified that a qualified individual includes an individual who has a reduction in pay (or self-employment income) due to COVID-19.Distributions:If so, you can take a penalty-free distribution (as well as waive the 20% withholding requirement) from your 401k (assuming that the employer allows it) anytime between 1/1/2020 and 12/31/2020.