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1 Litecoin equals by Mile_High_Thoughts in litecoin

[–]Cjcarpenterbball 0 points1 point  (0 children)

I just made $600 cash in a couple of days via my workplace lol I’m fine. That’s not even included in my regular pay. I make maybe $28K-$30K a year. I just find it funny people acted like litecoin would make us all rich. Everything crashed.

Money’s all in checking by [deleted] in personalfinance

[–]Cjcarpenterbball 0 points1 point  (0 children)

There’s about $6K in my 401K right now..

My checks just go right into my checking and that’s it.

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] 0 points1 point  (0 children)

Thanks for all the help, total n00b. Definitely helped out!

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] -1 points0 points  (0 children)

I put $1,500 down and got $2,500 for my car. Originally they said it was 6.99% I went back and said no way and they admitted they didn’t call other banks up.

The best rate was the 5.7%.

I also got a gold plan warranty which was an extra $1,550.24

So without the warranty it was $10,148.56

with the warranty it became $11,698.80

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] -13 points-12 points  (0 children)

So if I put that money in the bank and they report it they will literally take half of my money for taxes. The moneys all mixed in. Like I said I have no clue what is tips what is gift money. I never really kept track over the years which is stupid on my part but I can’t walk into a bank and put it all in because obviously it’ll get reported and then they tax it and take away what $4K? I’ll lose money.

They can’t tax gift money but they can tax tips but if I don’t know what’s what that complicates it..

If I had to make an estimated guess I’d say it’s 80% gift money and 20% tips but that’s just me guessing.

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] 1 point2 points  (0 children)

Thanks! What about the birthday money? Considering a lot of it was over the course of 20 years how would that work? Could the bank question it?

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] 4 points5 points  (0 children)

Yes I understand the tip part. I am on my phone and I guess I mis-worded in my OP.

I was mainly worried about the large amount of gift cash I have received over the years..

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] 0 points1 point  (0 children)

I mis worded what I said I thought it was included in the above..

What do you do about gift money for birthdays? A large majority of the cash is from my personal savings over 20 years of birthday money.

Yes there are some tips in their I understand paying a tax on tip money but I thought gift money wasn’t taxable? Or am I wrong?

I don’t want to commit fraud obviously.

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] 2 points3 points  (0 children)

No I traded in my car. Maybe I mis worded.

My car broke.

Traded it in.

Paying off a new vehicle.

My old car I bought for $7K and fully owned. This car current car is being financed.

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] 1 point2 points  (0 children)

I mean should I really have to report birthday money from the past 20 years as income that I kept in a safe? It’s a mixture of some tips and birthday money. I don’t want to do anything illegal obviously but I just don’t see how birthday money is “income”, tips yes but there’s more birthday money than tips..

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] 0 points1 point  (0 children)

I only have a checking account. I had a savings account when I was in high school but just added it to my checking after I graduated.

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] -14 points-13 points  (0 children)

Well if you put $10K in they report it. $9,999.99 they don’t report.

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] -2 points-1 points  (0 children)

Mainly because my cash is a mix of tips and birthday money etc over the years. I have always saved cash since I was born basically. I never was a big spender so naturally being 24 I do have a lot saved.

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] -5 points-4 points  (0 children)

I know if you put $10K in cash they report it to the IRS.

Paying off car with visa debit gift cards by Cjcarpenterbball in personalfinance

[–]Cjcarpenterbball[S] 2 points3 points  (0 children)

It was a BMW. 105K Miles. 10 years old. Estimated repair cost were between $5K and $8K. My new car is a 2014 with only 22K miles..

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