99

One can overpay their state and federal taxes by tens or hundreds of thousands of dollars. Tax time is when it gets reconciled, a payment due or a refund. No cap either way, your $3000 is just coincidence that it’s a round number.


94

They want to gauge the chance of a successful sale. There's nothing quite as frustrating when selling and moving to a new home as getting into escrow, doing all the paperwork, crossing off all the check lists, only to find out that your buyer didn't qualify for the loan and the mortgage fell through. By asking about your down payment (20% or more is often ...


52

Inquire with the landlord about switching to a month-to-month lease, meaning you wouldn't have to renew for an entire year. It's been a while since I was a renter but I recall most apartment leases I've had in my life being for a one-year term for the first year, then month to month after that. You say you're a good tenant and he's a reasonable landlord, he ...


38

For practical purposes, you will need/want to remove the lien before you sell the car1, so unless you plan to run the car until it falls apart2, you will need to remove it at some point. The question then becomes: do I remove it now, or wait until later? I've not been able to find any reason why keeping the lien attached to the car's title would be ...


26

Is there some law I'm running into that is capping my tax return You're filing two returns, not one. Thus, the premise of your question is flawed. Just as importantly, the two tax returns don't ask each other what the other's current year refund is.


21

The car has value, but it is still a depreciating asset. You're paying far more to rent a space to park the car than you are to own and drive it if you look beyond the initial term of your loan. You could buy a space to keep the car, but at $225,000 for a permanent spot, renting is a much better deal. Would you travel home as frequently if you didn't have ...


19

If the appraisal is less than the purchase price and the down payment is small, the bank might not approve the mortgage.


17

I pulled it off. I did my own searching and so took a lot of load off my agent. As a result my agent agreed to work for 1% commission instead of the normal 3%. Got seller's agent to agree to take 4% instead of 6% and pay my agent the 1%. Seller and I pocketed the difference (I forget how exactly the split went). As it happened, my agent only had to process ...


15

No you are not. Sorry about the goings on in your life that is certainly a lot of drama in addition to the loss of your mother. An advantage of having assets pass without going through probate is they do not have to stand for debts of the estate (usually). The life insurance is yours free and clear. You do not need to pay for any final expenses, but I ...


15

If you used an outside broker to find the apartment, meaning a broker not affiliated with the landlord/management company, then they are allowed to list it as a No Fee apartment with a Collect Your Own Fee option (CYOF). So it will be "No Fee" if you use their broker, but using an outside broker means the broker has to collect their fee from you rather than ...


14

See if you can find a buyer's agent who will represent you at an hourly rate, and refund the balance of the buying agent's commission. As I noted in a comment, I know of at least two agencies that will do this in Chicago. Start with a google search of something like "[MyCity] discount real estate brokers".


14

LLC doesn't really mean anything to the IRS. Your business filing requirements depend on how your LLC is treated for tax purposes. If you have a single-member LLC, then it's not considered a separate business entity by the IRS, you'd file a Schedule C like any sole-proprietor, and you only have a Schedule C filing obligation if your income is over $400 for ...


14

There should be no difference in Federal taxes. You will have to file a federal W-4 with a new employer. You will want to do everything you can to make it clear to New York that you have moved. Register the cars, get drivers licenses, and register to vote in Maryland. Close all the bank accounts in New York, and open accounts in MD. A big mistake that ...


13

Roughly, about one in a thousand people will have a tax return in multiples of a thousand. If 100 million people/families file, there could be around 100,000 with a return that’s a multiple of 1,000. Most deductions are limited to the total amount of taxes you owe, some are not. Therefore, your return is mostly limited by how much taxes you already paid - ...


13

When I paid off the loan, I wanted to get the lender off the title. It streamlines the transfer of title when you are selling the car. Some answers have said that it can save you money on insurance. I think that is only true if you were keeping specific levels of coverage because the lender required you to have that particular coverage, and you will be ...


12

I am a realtor. When I am approached directly by a buyer, it's their choice to bring their own agent, come unrepresented, or buy through us via disclosed dual agency. With no buyer agent, my office and I get the full commission. The seller has already agreed to a fixed percent of the sale price. How does it benefit me to agree to this? Update From all the ...


12

This is a very easy question to answer. Take the value of the trade in ($10,000), add in the discount from sales tax that you will receive, ($800) compare that $10,800 benefit to what you could make selling it privately $11,000–12,000, and determine whether the hassle of selling your car is worth an extra $200–1,200 to you. If it is, sell it ...


12

Read your lease. It may already have a provision that it switches to month to month automatically after the lease term expires. I've had a few leases like that in the (distant) past. If that's the case, then you don't really have to do anything.


11

I purchased a used (2011, low miles) sedan in early 2014 for ~28k, 9 months before moving to the city. I put 12k down including trade in and currently own 9k on the car (1.9% APR). It's a luxury sedan (not a 3 series, hah!) and will hold it's value better than other cars for quite a while (currently worth ~23k in private sale). 1.9% APR yet it costs ...


11

You need to understand why it was not covered. It's possible there's an error in the billing. This could be something as simple as a missing tax id number. Earlier this year claims codes changed from ICD9 to ICD10, that has caused some "denials" that were strictly related to an "incorrect" billing code. This could be a requirement for prior authorization....


11

Tell your $12.5k "goodbye". The probability of getting your money back is essentially zero. Explanation: The scammer set up the account. It is their account, not yours. They have the options to get their access back by whatever password-recovery functions the website has. They may have set up automatic trading functions and/or automated transfers ...


10

Back when I was 25 and living near Kansas City, I would put 500-700 miles on my car almost every weekend traveling to other places like Omaha, St. Louis, Iowa City, occasionally Minneapolis, once to Fargo, and one longer trip all the way to Virginia... There's a whole lot of nothing out there so road trips are quite naturally long. They're also quite ...


10

You cannot inherit debts, and the only cases where life insurance can be used to pay the debts of the estate of the deceased are when a living beneficiary was not named on the policy. It's possible for the life insurance beneficiary designation to be challenged in court, but that is much harder than challenging a will. Unless your father manages a ...


9

Obviously, I will take trips to New York here and there, but I don't think that is relevant to the tax question. Oh but it is! It may make you even a resident of NYS/NYC if you're not too careful. In any case, you need to file a nonresident tax return in NYS because you have New York-sourced income. See more details on this page from the NYS treasury ...


9

They will not send a bill, though there's a chance they will eventually send an accusatory letter. You must proactively pay your taxes. The simplest route is to send a check to each taxing authority with the respective full amounts due. I wouldn't bother calling them. You could also file amended returns with each containing the correct information. As a ...


9

Well sure you can ask. You can ask for the sun, the moon, and the stars too. Whether they are willing to accommodate you depends on how the local real estate market is doing. In the US from 2007-2010, realtors were signing all sorts of deals like this. Be realistic about what you are asking for. You want them to sell you the property for less then they are ...


9

This is part of the Affordable Care Act. Because of the ACA, everyone must have insurance, either through their employer or purchased through one of the marketplaces (i.e. personally purchased). Here is the blurb about fees for not being covered: https://www.healthcare.gov/fees/fee-for-not-being-covered/ If you can afford health insurance but choose not to ...


9

A co-worker of mine paid off his car, got the lien release and then moved. During the move, he lost his copy of the letter. In the mean time, the place he purchased his car from had gone out of business. Since the paper title had a lien holder on it, and there was no way to verify that the lien was paid off, he could not sell his car and the new state would ...


9

This is how it works in my experience regarding getting a mortgage: Owner occupied. If you put less than 20% down you have to get PMI. Rental. You are required to put 20% down. Not all lenders will make loans for rental property. Now some people start with a owner occupied and change to renting the property years later. They do this when they have to move ...


9

If you are offering 20% ($40k) down then does the bank/assessor only look for $160k value in the house? The appraiser is tasked with determining the current value of a property, your down payment amount is not a factor in their process. The appraised value is important to lenders as there are maximum loan-to-value ratios (LTV) for each loan type, and at ...


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