88 votes
Accepted

Can I take out a loan and pay it back immediately to avoid interest?

It will depend on the terms and conditions of the loan you take. Some loans have penalties on early repayment while others do not.
  • 3,632
70 votes
Accepted

What can my relatives do to minimize their out of pocket expenses on their fathers estate

Also the will stipulated that the house cannot be sold as long as one of my wife's aunts (not the same one who supposedly took the file cabinet) is alive. This is a turkey of a provision, ...
  • 20.8k
70 votes
Accepted

In the donut hole of assistance, Should I buy a home?

You're making $100k together per year: you're not in the donut hole, you're in the top 25% of all households, and the top 10% of non-family households (as yours would be). To be blunt, you're not in ...
  • 35k
36 votes

Landlord making up charges

The carpet seems suspect too unless you trashed it. The $177 feels illegal to me. I might go as far as leaning that way even if the rental agreement included the rule! (Just because something's in an ...
  • 46.2k
23 votes

Can I take out a loan and pay it back immediately to avoid interest?

"Immediately" per the title, mortgage refinance loans and many other consumer loans are covered by the Truth in Lending Act providing a Federal 3 day "right of rescission", where ...
  • 8,251
22 votes
Accepted

Will a divorce affect my co-signed vehicle?

The co-signer is responsible for paying the loan back if you can’t or don’t want to pay. Being co-signer doesn’t give them any rights to your car. What happens in the private life of the co-signer, ...
  • 21.2k
17 votes
Accepted

Do capital gains taxes need to be paid throughout the year to avoid underpayment of estimated tax penalty?

It doesn't matter what kind of income you owe taxes for (capital gains, wages, or whatever), the rules for the underpayment penalty are the same. There are two safe harbor levels: 90% of this year's ...
  • 15.7k
17 votes

Landlord making up charges

Check with the town/city/county/state regarding landlord-tenant help. They usually have a website or document that discusses what steps are supposed to happen, and when those steps must occur. ...
14 votes
Accepted

How should I choose a Financial Planner/Advisor?

I don’t feel like I know enough to put my money in the right places to make the most of it. If your questions are: Roth vs traditional 401(k)? Roth vs traditional IRA? Backdoor Roth? How much term ...
13 votes

Can I take out a loan and pay it back immediately to avoid interest?

I think you're describing credit cards. It's literally a 30-60 day (depending on when you make the purchase) interest-free loan that you should pay back on time to avoid interest. If not credit cards ...
  • 6,772
12 votes

Tax benefits of recycling

If they charge a fee to accept an item, it's reasonable to assume the item has insignificant value, so the only tax-deductible bit would be the money you donated to their charity. What you describe ...
  • 65k
12 votes

How should I choose a Financial Planner/Advisor?

I've been a retail investor for 40+ years and a retail trader for the past 20 years so I've learned a bit about financial markets. About 5 years ago I considered turning much of this over to a money ...
11 votes

In the donut hole of assistance, Should I buy a home?

I am with Joe. Just doing some rough budgeting you should be able to swing 2-2.5K per month. Here is how I got that: You gross 60K, 5k per month. 75% of rent ~1000, 75% of 600 for groceries 450, ...
  • 75k
10 votes

I believe I have paid too much for my home, what are my options?

Your options are the same as if prices had not changed. You bought the home, you own it now regardless of what the surrounding market has done. Those options are: Sell the home, likely at a loss and ...
  • 7,845
9 votes

Tax benefits of recycling

They are certainly only suggesting that the money you pay to recycle the bulbs is tax deductible as a donation, assuming that they are indeed a 501(c)(3) non-profit. Donations of goods are only ...
9 votes

Landlord making up charges

Make them prove it Every single time I've moved out I have had the landlord attempt to charge me for carpet. And every single time, there was a grain of truth to their argument, but it sure wasn't a ...
8 votes
Accepted

All of a sudden my money supply cut off and I have no money, what do I do?

A roundup of ideas, some from the comments section, some from the web, for a college student who is financially cut off: Become financially independent as soon as possible, by working full-time. If ...
6 votes

Manufactured home joint ownership

In the US there is not a legal way to remove someone from a title without their consent. The fact that you paid the payments and taxes is irrelevant. It's unfortunate that you feel like you paid more ...
  • 117k
6 votes
Accepted

What is my responsibility as a landlord to providing internet, power, gas, and curtains?

Call your local utility company, they will be able to tell you exactly how to transfer the utility bill to another party - you can likely find the phone number on your last bill. Some utility ...
6 votes

Landlord making up charges

Nobody is trying to get over on you here - someone just made a normal human mistake. The landlord is probably just entering information into a computer program that handles these things. When they put ...
  • 2,307
5 votes

Why do local taxes always have terrible references to your W-2?

Assuming your employer correctly knows the local municipality that they should be withholding for you, boxes 18-20 generally are the only ones that you need to worry about when filling local taxes. ...
  • 2,429
5 votes

My 18 yo son inherited his grandmother's house and his father wants to buy it for $1

Inherited real estate is purchased at a "stepped up" basis. That is for tax purposes the house price is the value at the time of death. So grandma might have bought the house for $20, and the time ...
  • 75k
5 votes
Accepted

What is the age at which pensions are no longer taxed in Pennsylvania?

Pennsylvania-qualified pensions (as well as IRA distributions after age 59.5, whether received as lump-sums or in smaller amounts) are not subject to Pennsylvania state income tax. See the ...
5 votes

Can I take out a loan and pay it back immediately to avoid interest?

This is commonly allowed on margin loans. I use this from time to time either when replacing one security with another or when selling a security to cover an expense. The loan covers the time period ...
5 votes

How should I choose a Financial Planner/Advisor?

Other answers may tell you how to choose an advisor or financial planner, but for my answer I'd like to focus on how to eliminate ones that you should not do business with after you come up with a ...
  • 976
4 votes
Accepted

Do unearned income taxes stack on top of income tax in Philadelphia?

The city of Philadelphia has three types of income taxes: Wage Tax: This is tax that is withheld from your paycheck by your employer if you either work in the city or you live in the city and work in ...
4 votes
Accepted

I fear I may be laid off soon. How do ensure additional income?

You can certainly work food/package delivery or similar while still hunting a proper job to keep money flowing in. You could take on extra work now to supplement income if you were so motivated. If ...
  • 65k
4 votes
Accepted

How can I insure a driver who doesn’t live with me but is borrowing my car long term?

They will cover you while you're traveling, naturally; but the insurers really do not want a situation where they cover you on the basis of you living in one circumstance, when your actual ...
4 votes

Do capital gains taxes need to be paid throughout the year to avoid underpayment of estimated tax penalty?

Here's a tool from the IRS to see if you need to pay estimated taxes: https://www.irs.gov/help/ita/am-i-required-to-make-estimated-tax-payments
4 votes
Accepted

Can I list an occupied property for rent prior to lease renewal date?

A real estate agent will not accept such a listing. In many cases, the existing tenant has no obligation to allow a showing while they still occupy the rental. Once they give notice, you can list it, ...

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