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I Love Topanga posted:How do they know whether I'm depositing 20% or not in their accounts? You just have to keep 20% of your total deposits for the quarter in the account to qualify for their top tier. So if you direct deposit $1k every month you'll have $3k in the quarter, they don't want you to withdraw more than $2400. I personally am able to split my direct deposits so I just have a DD set up for $100/mo into this account, and then I manually moved a bunch of cash from another account into it. I have enough cash in other accounts that I am essentially parking money here with no intention of withdrawing it.
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May 13, 2021 18:29
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drive me nuts to school posted:The purpose of an emergency fund is preservation of capital and to be available immediately. The best your are going to be able to do is a HYSA, or jumping through hoops for something like HM Bradley. I-Bonds and an emergency fund serve totally different purposes and I think the only reason that people are chasing I-Bonds for emergency funds recently is because they're chasing returns in the e-fund (bad, dumb), and right now you have a perfect confluence of low interest rates and high projected inflation that makes them look like low risk high return investments. Even if you are like "gently caress you KGJr don't tell me what to do," you should consider the following: 1) They are less liquid than a HYSA. You can cash them out on Treasury Direct but they are not money in your accounts for you to use right now. 2) Your purchases are limited on an annual basis to 10K+ up to 5K in tax refund taken as I-Bonds. If you end up selling them, you don't get that purchasing back. They are a useful inflation hedge and part of a three fund portfolio and selling them will change the allocation of your assets, and you won't be able to recover by buying I-Bonds.
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May 13, 2021 20:10
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Your efund is earning FDIC insurance that it will be there for you no matter what. That is the HUGE thing you're earning with that paltry interest rate. Set it and forget it. For money in excess of you 3-6 month emergency fund you can start looking at other things like IRA or 401k contributions.
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May 13, 2021 21:44
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Thanks all for the sanity check. I'll stuff my efunds into an HYSA and toss the rest at my IRAs once I hit 6 months
Beach Bum fucked around with this message at 15:48 on May 14, 2021 |
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May 14, 2021 15:45
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My grandfather has left me a $130,000 inheritance. I'm terrified I'm going to make a bad decision with that money so I'm just going to put it away for six months and not even think about it until I decide what to do with it.
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May 30, 2021 04:15
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New Ford Raptor is out later this year e: sorry wrong thread
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May 30, 2021 04:28
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CelestialScribe posted:My grandfather has left me a $130,000 inheritance. I'm terrified I'm going to make a bad decision with that money so I'm just going to put it away for six months and not even think about it until I decide what to do with it. I'm sorry for your loss. That is the perfect idea. When you're ready, what are your goals in life prior to the windfall? What are your financial struggles? What is your current plan before you had $130k?
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May 30, 2021 05:41
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CelestialScribe posted:My grandfather has left me a $130,000 inheritance. I'm terrified I'm going to make a bad decision with that money so I'm just going to put it away for six months and not even think about it until I decide what to do with it.
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May 30, 2021 05:57
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H110Hawk posted:I'm sorry for your loss. That is the perfect idea. Thank you. As for goals, that's what I'm going to have to put some thought into. Right now I'm running my business full-time and that's providing me a very good income. As of right now I have no debt except my mortgage. The current plan was to continue to save money, max out my retirement each year, and invest a little. Biggest family priority in the next couple of years is a nice trip once the borders open back up. I've already got a fully funded emergency fund (six months of expenses), so I'll probably take the money, give some to charity, max out my retirement for the year, save a decent chunk for a nice trip (20k?) and invest the rest. moana posted:Sorry to hear that, CS. Hope that you can use the money to help you do whatever it is you really want, and remember him by it. Thank you.
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May 30, 2021 08:29
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Hello all, apologies if I've missed something obvious, but what would be the best thread to ask about forming a LLC or other business structure? Specifically, I'm in Texas and am an aspiring writer that might want to monetize something in the near future and doesn't want to fall into an avoidable pitfall, get classified as a hobby, etc, and the main project I'm working on might be with other folks on the internet. The previous company I worked for was a partnership where the general partner was a separate legal entity from all the limited partner human owners. I'm wondering if that might be the best option. Ronwayne fucked around with this message at 13:48 on May 30, 2021 |
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May 30, 2021 13:42
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Ronwayne posted:Hello all, apologies if I've missed something obvious, but what would be the best thread to ask about forming a LLC or other business structure? Your immediate best bet is to just go talk to a local attorney about what you hope to do, and what you hope to get out of the business. The nuance between LLC, LLP, S-Corp, etc is tricky and state specific. My advice to you? Get good at separation of "work" from "personal" right now, and make sure you set up good habits to track time, expense, and work product. If you need to buy something, make sure you're spending work money. If you accidentally spend personal money on it make sure you "submit the receipt and get reimbursed." Transfer your existing IP into the company you form. Never have the ability for a deadlocked vote - Somehow you must be able to break ties, get partners in/out, and wind down the company. CelestialScribe posted:I've already got a fully funded emergency fund (six months of expenses), so I'll probably take the money, give some to charity, max out my retirement for the year, save a decent chunk for a nice trip (20k?) and invest the rest. Honestly you're in a much different position than many people who receive inheritance and are looking for "what to do." It sounds like this is a welcome windfall but it's not life changing. For lots of people this is how they either get out from under the yoke of student loan debt, or buy their first house, etc. We joke here that our bathroom is going to be the "Grandpa Hawk Memorial Bathroom." Stick it in an FDIC insured savings account for 3-6 months, put a calendar reminder in your calendar to revisit it, and sit down with your SO and think on it. If it's going to put you over the FDIC limit go open a new account at a new bank, something like Ally Bank is online and fine. Your proposed allocation is what I did with mine, a little treat-yo-self, and the rest went to funding a project. For your vacation, I personally would travel comfortably but I wouldn't "blow it out." You remember being there more than you're going to remember flying first class for example. Pick the things to splurge on with intent. (Fancy restaurant? Getting the kids their own drat room in the normal hotel you stay at? Do some fun excursions you normally wouldn't? Travel for 4 weeks instead of 2?) To each their own. For investing, the Long Term Investing thread has ideas. It's cheap index funds.
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May 30, 2021 15:33
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H110Hawk posted:Your immediate best bet is to just go talk to a local attorney about what you hope to do, and what you hope to get out of the business. The nuance between LLC, LLP, S-Corp, etc is tricky and state specific. My advice to you? Get good at separation of "work" from "personal" right now, and make sure you set up good habits to track time, expense, and work product. If you need to buy something, make sure you're spending work money. If you accidentally spend personal money on it make sure you "submit the receipt and get reimbursed." Transfer your existing IP into the company you form. Never have the ability for a deadlocked vote - Somehow you must be able to break ties, get partners in/out, and wind down the company. Thanks! Also, what constitutes,registering something as IP that you own? I mean in the sense of what process do I need to go through to say "these specific things, stories, etc, are the property IP of X."
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May 30, 2021 15:46
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Ronwayne posted:Thanks! Also, what constitutes,registering something as IP that you own? I mean in the sense of what process do I need to go through to say "these specific things, stories, etc, are the property IP of X."  Ask your attorney. There is probably a single sheet of paper you will fill out based on your new corporate governance documents transferring the ownership interest in them.
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May 30, 2021 15:55
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Ok, thank you.
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May 30, 2021 17:29
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If someone is getting a large amount of money from Stock appreciation rights (the units are treated as ‘profit interest’ for federal tax purposes), are there any ways to reduce tax burden?
Flowers for QAnon fucked around with this message at 22:24 on May 30, 2021 |
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May 30, 2021 22:11
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Flowers for QAnon posted:If someone is getting a large amount of money from Stock appreciation rights, are there any ways to reduce tax burden? I'm not familiar with that term, so I'm going to ask: what country. Oh, just saw your post history in this thread. Hire a CPA and/or estate attorney that understands how to deal with things like this to minimize tax burden. Your personal situation is going to be very specific to a point where you probably don't want to disclose everything over the internet, nor trust the advice you get over......what kind of money you might be talking about here.
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May 30, 2021 22:16
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Ronwayne posted:Thanks! Also, what constitutes,registering something as IP that you own? I mean in the sense of what process do I need to go through to say "these specific things, stories, etc, are the property IP of X." Source: used to be a novelist, have had my books plagiarized multiple times and it was handled promptly by distributors.
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May 30, 2021 22:35
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Flowers for QAnon posted:If someone is getting a large amount of money from Stock appreciation rights (the units are treated as ‘profit interest’ for federal tax purposes), are there any ways to reduce tax burden? The easiest answer is "not really." They're most like NSO's. So 98% you're going to be best served exercising them, liquidating them, and paying ordinary income / STCG on them. 1% you can either spread it out, or exercise and hold and some future portion will wind up LTCG, with the rest being STCG. 1% you're exceeding the $11.7MM (double if you're married!) estate tax exemption in a material way stop do not pass go: Motronic posted:I'm not familiar with that term, so I'm going to ask: what country. Also, which country? I'm assuming USA for both you and the private company.
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May 30, 2021 23:06
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H110Hawk posted:you're exceeding the $11.7MM (double if you're married!) estate tax exemption in a material way stop do not pass go: I'd say do not stop or pass go on professional help if this even approaches 6 figures. This type of professional advice is a rounding error and will likely save you more than you pay when we're getting into Big Boy Money.
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May 30, 2021 23:13
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Motronic posted:I'd say do not stop or pass go on professional help if this even approaches 6 figures. This type of professional advice is a rounding error and will likely save you more than you pay when we're getting into Big Boy Money. The "employee stock oh god I'm rich" advice it typically "sell it as you get it" in which case you're just paying full freight on your taxes. There's not really a way around it without delaying sales. I agree, have a CPA deal with it, but unless you're comfortable with the risk of extending the sales out over year(s) to stay under some marginal tax bracket then  it and figure it out from there. I don't think there's any reason to be shy unless you don't want to tell a few thousand of your closest strangers on the internet about your new found wealth.
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May 30, 2021 23:19
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H110Hawk posted:The "employee stock oh god I'm rich" advice it typically "sell it as you get it" in which case you're just paying full freight on your taxes. There's not really a way around it without delaying sales. I agree, have a CPA deal with it, but unless you're comfortable with the risk of extending the sales out over year(s) to stay under some marginal tax bracket then I mean, you're right. And this is how I've handled all equity I've gotten. But there are things past not selling immediately that can gain a tax advantage depending on what other circumstances or goals you have in your life. This is a fairly long conversation with a professional. And not H&R Block kind of "professional."
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May 30, 2021 23:23
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H110Hawk posted:Your immediate best bet is to just go talk to a local attorney about what you hope to do, and what you hope to get out of the business. The nuance between LLC, LLP, S-Corp, etc is tricky and state specific. My advice to you? Get good at separation of "work" from "personal" right now, and make sure you set up good habits to track time, expense, and work product. If you need to buy something, make sure you're spending work money. If you accidentally spend personal money on it make sure you "submit the receipt and get reimbursed." Transfer your existing IP into the company you form. Never have the ability for a deadlocked vote - Somehow you must be able to break ties, get partners in/out, and wind down the company. Thank you 
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May 31, 2021 01:07
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Thank you for your help!
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May 31, 2021 01:07
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moana posted:If you're talking about publishing stories, as soon as you publish something you own the copyright. Any plagiarism will be handled by the distributor exactly the same whether or not you have a fancy legal document. If you published it, you own it. Ah, one of them was. The other one I was working with was originally a collaborative fan project I am trying to develop further and make legally distinct so the company's lawyers don't simply issue a C&D. There's been hemming and hawing on wanting to keep this a personal, casual work between internet randos, but I really don't want to invest hundreds of hours, adding new content, into something that might get smacked down. At this point there's been a ton changed, but I want to make sure I'm 100% covered. I guess only an attorney can advise me on where that line is? Ronwayne fucked around with this message at 03:19 on May 31, 2021 |
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May 31, 2021 03:16
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H110Hawk posted:The "employee stock oh god I'm rich" advice it typically "sell it as you get it" in which case you're just paying full freight on your taxes. Does this hold for actively appreciating companies? I got that advice when I joined a big tech company but the stock price has almost doubled since I joined 1.5 years ago and I'm glad I haven't been selling at every vest event (I think?). Eventually the rise will stop but before that, especially if I have no immediate plans for the money, it seems better to sit on it and sell after a year or longer. Does that actually pan out (assuming stability, no random stock tanking) or does it still math out to just sell immediately and invest yourself?
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May 31, 2021 15:48
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Chaotic Flame posted:Does this hold for actively appreciating companies? I got that advice when I joined a big tech company but the stock price has almost doubled since I joined 1.5 years ago and I'm glad I haven't been selling at every vest event (I think?). Eventually the rise will stop but before that, especially if I have no immediate plans for the money, it seems better to sit on it and sell after a year or longer. Does that actually pan out (assuming stability, no random stock tanking) or does it still math out to just sell immediately and invest yourself? Generally speaking yes. The tech company I have been at for almost 4 years has gone up... Hundreds of %. Do I dream about how much money I would have had if I held it until today? Yes. Can you predict when or how it will change trajectory? Unlikely. Why earlier this year it cut itself nearly in half overnight. Will it recover? I hope so, this year's options are priced underwater currently. I don't know what you're waiting for, but I bet you should sell. Why not lock in some profit, diversify your income, and get into the larger market? You don't want to discover you should have sold when the stock tanks and they lay you off.
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May 31, 2021 15:54
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Chaotic Flame posted:Does this hold for actively appreciating companies? I got that advice when I joined a big tech company but the stock price has almost doubled since I joined 1.5 years ago and I'm glad I haven't been selling at every vest event (I think?). Eventually the rise will stop but before that, especially if I have no immediate plans for the money, it seems better to sit on it and sell after a year or longer. Does that actually pan out (assuming stability, no random stock tanking) or does it still math out to just sell immediately and invest yourself? Yes. The usual guideline for this is, "if you got the equivalent in cash, what would you do with it?" And, keep in mind that if things go to hell and your employer's stock price tanks, then you take it on the chin twice: first because you've got a bunch of your net worth tied up in company stock, and then again because your job's probably at risk. I do know some people who worked at Microsoft in the 90s or Amazon more recently, and holding onto company stock as it shot to the moon has let them become the kind of people who can throw down 10% over asking on a new home, waiving inspection because worst case they'll just tear it down and build a new house. They're not "first few hundred Google employees" rich, but they're pretty rich. They got real lucky. On the other hand, Enron was throwing around tons of cheap equity compensation back in the day, too. And, more recently, Boeing was flying high until the 737 Max launch took a nosedive. So, if it goes bad, it can go really bad. If you do want to take that gamble, the actually-optimal strategy is probably closer to "sell your ESPP gains as soon as you can, then put the money in some other hot individual stock to break apart the job and investment risks of your employer flopping." But nobody actually does that, because when you start evaluating the risks more dispassionately, putting big chunks of your money into an individual hot stock doesn't look so great.
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May 31, 2021 16:07
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Looks like Ally got rid of overdraft fees. I didn't look at all the details but seems like a pretty cool move.
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Jun 2, 2021 16:16
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I really wanted to post this in the BWM thread, but self-posting is strictly probe-able, so I will post it here instead. Counter-Strike: Global Offensive is a video game with an associated market of ridiculously valuable collections of pixels (cosmetic skins). In 2014, during the Katowice tournament, I bought a limited-run sticker directly from the CSGO Store for the ibuypower team for $2. Since it was only a couple of bucks and looked cool I slapped it on my base pistol skin, the p2000. Note that once a CSGO sticker is applied, it will never, ever come off without being deleted. Note also that default skins, even (especially?) with stickers, are not tradable. Those stickers, when unapplied, can now be sold, with difficulty and some risk (since the “official” way to sell them is through the Steam Market, but it caps at $2-4k) directly to other users for north of $35,000 each. I don’t beat myself up over it because its ridiculous valuation wouldn’t be possible without all the other buyers doing dumb poo poo like me and burning up their stickers, but still... looking at that pistol with the $2/$35,000 sticker in my inventory makes me laugh.
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Jun 7, 2021 18:10
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I know a guy who bought drugs with Bitcoin in 2011. Using today’s prices he paid something like $400k for six doses of MDMA.
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Jun 15, 2021 13:26
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My grandmother (Dad's mom) recently passed away. My dad died 10 years ago so my sister and I "get" to settle her estate. We're meeting with the lawyer next week, but is there anything in particular I should ask about? Stuff that gets easily missed? My grandma left us a house in a trust, (filled with stuff - I guess there's services that manage estate sales and stuff, right?), a car (with a note still on it), and a couple insurance policies. Should be fairly straight forward, especially with the lawyer's help, but I don't want to miss something obvious that my sister and I need to do. Is there a thread for this type of thing? I didn't really see one that seemed appropriate.
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Jul 21, 2021 18:15
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Jows posted:My grandmother (Dad's mom) recently passed away. My dad died 10 years ago so my sister and I "get" to settle her estate. We're meeting with the lawyer next week, but is there anything in particular I should ask about? Stuff that gets easily missed? You're doing it all right. I'm sorry for your loss. There is no rush on this stuff - go take out the trash and empty the fridge but otherwise take the time you need. Otherwise, your lawyer should have referrals for all this stuff. There are indeed professional estate sale people who will go through and inventory everything, let you guys pick through it for what you want to keep, sell the rest, and dispose of what doesn't sell. Get more death certificates than you think you need. Again your lawyer should know how many but it's not "one" or even "two" - you're going to be mailing this crap around if people won't accept it via fax or email.
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Jul 21, 2021 19:07
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Jows posted:My grandmother (Dad's mom) recently passed away. My dad died 10 years ago so my sister and I "get" to settle her estate. We're meeting with the lawyer next week, but is there anything in particular I should ask about? Stuff that gets easily missed? There’s a legal question thread in general ask/tell.
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Jul 27, 2021 14:19
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Hey all, quick question about an old debt that my partner has: They got a letter in the mail today giving notice that a debt had gone into collections - but the debt itself is very old, as in like 12+ years. I'm not sure if this was sent out because one collections agency sold it to another and it renewed or what the deal is, but as far as we can tell it's already fallen off of the credit report. The letter they sent says at the bottom that the statute of limitations has expired on the debt and so they can't sue over it or have a court force payment unless my partner signs a document admitting they owe the debt or waive their rights to not be sued (not sure why anyone would do either of those things?), and then it says that a letter needs to be sent within 30 days disputing the debt if it isn't valid. So my question is, what is the best course of action here? My main concern is that somehow it gets reactivated and damages my partner's credit again, or that sending a letter challenging the validity somehow counts as admitting that the debt is valid / resets the timeline on them being able to contact them about it. Do we draft up a letter and challenge the debt, or just ignore it? I've never had to deal with this process before so I'm not sure if it's something we need to be proactive about or if it's just some weird debt collector trap.
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Aug 11, 2021 23:20
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Industrial shredder. Do not admit to it, that would reset the clock. If they continue its fdcpa "do not contact" letter time. Nothing about their alleged debt and their request to give them a gift. It was sent first class mail right? You never got it.
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Aug 12, 2021 01:12
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H110Hawk posted:Industrial shredder. Do not admit to it, that would reset the clock. Yep, first class, and thanks! That was my gut feeling but I just wanted to make sure we weren't making a mistake by not challenging them to prove it's valid.
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Aug 12, 2021 01:48
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Grizzled Patriarch posted:Hey all, quick question about an old debt that my partner has: Check out this thread for a ton of good advice/information.
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Aug 12, 2021 12:13
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I need a job that is less exposed to covid than teacher. Thinking like, non Uber delivery driver type thing, I have two degrees but no trade training. what should i do?
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Aug 12, 2021 22:27
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Time to try the apartment basil thing again.
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Aug 12, 2021 22:32
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Motronic posted:Time to try the apartment basil thing again. Unfortunately all my basil space is currently consumed by WINE and RUM because, teaching.
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Aug 13, 2021 00:13
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