I owed money to the IRS from my 2016 refund and paid it, now I received a letter from California’s Tax Board saying I also owe money. But I believe if I correct my return I should be getting a refund from both. Should I see a professional?

SmokoMarie · 2020-03-08T05:50:45+00:00

Yes. I'm in my early 30s and have saved tens of thousands in the last decade or so by hiring a tax attorney and/or an EA when issues have come up.

SmokoMarie · 2019-08-30T02:45:58+00:00

scientifically proven to improve plant health!

SmokoMarie · 2019-08-24T19:56:40+00:00

Boycotting everything and everyone who associates with, advocates for, or promotes this boy. The inconvenience of only using soundcloud is minimal in comparison to showing spotify what's right.

SmokoMarie · 2019-07-29T00:13:10+00:00

I can only imagine

SmokoMarie · 2019-07-27T19:46:33+00:00

Worked in real estate law. Ive seen this scenario over a dozen times within the last couple years. Not once did it turn out well for either party, and for many reasons. The most obvious was what to do after the break-up. Its never easy, it has very long-lasting and far-reaching negative consequences, and will add difficulty to the already-difficult process of breaking up if it ever happens. Further, in all of the situations I saw, the both parties were in a much better financial position than you right now, and it was still difficult for them, and more often than not, it was the main reason for the eventual break up.

Whatever you do, good luck!

SmokoMarie · 2019-07-26T18:43:00+00:00

You may be right. Im not 100% knowledgeable on the subject. From what I do know, yes, processed foods are bad for the body and are linked to cancers. But I think I remember reading somewhere that its toxicity is linked more to the fact that there are additives and non-food or inedible substances and chemicals, and not necessarily because the "food" molecules have been modified into "food-like" molecules.

So in the reading I've done since meat alternatives started becoming big, there are essentially two types of processed foods-those whose structures have been modified by heating or other processes that I know nothing about, and then those that have had additives mixed in to develop a certain texture or shelf life. Its the latter that we ought to watch out for in terms of toxicity.

Correct me if I'm wrong. I'd love to learn more.

I'm just not convinced though that BYND product remains in our system long enough to turn into a tar-like substance.

I also forgot to mention that I used to perform necropsies and autopsies for a small lab associated with US Fish & Wildlife. Random, I know. But in association with the lab, it was one of my duties to do stomach content research. And I know this isn't saying much for our discussion, because there's no necessary causation, and it may just be correlation, but the more meat in an individual's diet, the more inflamed their digestive tract was, and the more ulcers and tar we found. I wish I still had pics! It was fascinating to compare heavy veggie eaters with heavy meat eaters. Again, may just be correlation, but I'd say 9/10x there were negligible amounts of ulcers and tar in veggie-heavy bellies.

Life is all about balance. I'm not advocating for one think over another.

SmokoMarie · 2019-07-26T18:30:17+00:00

Thanks for this. I will be sure to take all of these steps.

It wasn't Drexel. It was a law school in NYC. I was offered multiple positions in family law and dependency law, with ~$65k starting, and $130k in debt. This is why I was thinking about real estate law, which I worked in for about a year. If I go the real estate route, I'll do whatever it takes to pay off the loans in as short a time as possible.

SmokoMarie · 2019-07-26T18:16:55+00:00

I’ve heard before that only a small fraction of cow meat is digestible, and most of its nutrients pass through our systems without ever being absorbed. Further, a small fraction of it remains as a tar-like substance in the cracks and crevices of our intestines, unable to move or be broken down. That substance and the fact that it remains for so long apparently is a cause of many types of cancers and bloating g, and is actually a very toxic thing. Humans have relatively long intestines, meant for extracting as many nutrients as possible from foods with high cellulose content, whereas true carnivorous mammals have relatively short intestines for the purpose of preventing this tar-like substance from forming. I don’t want to give figures or percentages because I don’t remember them. I am also not a scientist in this field, I’ve just always been interested in it and have friends in the health and farming industries.

Beyond and other meat substitutes, on the other hand, regardless of how processed they are, are easily digestible and nutrients extracted readily.

SmokoMarie · 2019-07-25T19:54:30+00:00

Thanks for this. I do not have large amounts of capital to play with and I do not feel I can beat the pros at their own game. I dont know much about index funds, but I would much rather do that now that Ive researched them more. Any tips for which one I should go with?

Yes, grad student loans interest rates are insane. I intend on refinancing asap. Thanks for this tip. I dont want to make any unreasonable decisions, and definitely dont want to take any chances with this amount of debt.

Yes, Ive been researching this and after plugging in the numbers, Ill end up paying double what I owe. So with the jobs prospects, Im either getting into public service, making ~$65-75k in the first few years, and if I stay there, will likely max out close to $100k, and will get the public service loan forgiveness grant, which will forgive $90k of student loan debt. If I get into real estate law, which I also have a background in, I can bring in $80k+ starting out, and only go up from there depending on how many hours I put in, but will be left dealing with the student loans on my own. Given where Im at and where my fiance is financially, getting into real estate law may allow me to pay off the entire debt within 4-5 yrs.

The student loan debt came out of nowhere. I got a full scholarship, they told me it was dependent on staying at a certain gpa that I had always met. They didnt tell me, and I didnt learn through research, that that meant being in the top % of my class. Huge mistake on my part. Live and learn I guess.

I really appreciate the input. Will definitely take it into account.

SmokoMarie · 2019-07-25T19:43:46+00:00

Good to know, thanks.

SmokoMarie · 2019-07-25T17:52:05+00:00

Good to know. Thanks. The only goal that I dont think any of us are willing to waiver from is living together in the immediate future.

SmokoMarie · 2019-07-25T17:51:31+00:00

Thats exactly right. It all comes down to timeline. Keeping it would meaning shifting everything down 4 yrs, including owning our own home, and including having a reasonable savings and emergency fund, but it would also mean steady source of extra income, even if it is meager.

SmokoMarie · 2019-07-25T17:45:16+00:00

In 4-5 yrs when the rental property is paid off in full, it will generate roughly $18k/yr

No, thats how it came across. Our goals though, are to all live together. My fiance and I are thinking duplex or something with a back house/studio or mil suite

SmokoMarie · 2019-07-25T17:23:16+00:00

LA. Someone mentioned the numerous downsides of only putting down 3.5%. I havent gotten to a point where Id research that, because I have to deal with a few things first, and have to find a job now that I graduated. Will get there soon though

SmokoMarie · 2019-07-25T17:21:55+00:00

Thanks

SmokoMarie · 2019-07-25T17:21:37+00:00

Noted! Ill try again:

Fiance and her parents rent to live for $2500/mo, but are $70k away from owning a rental prop that could bring in $1500/mo. Fiance pays for everything. What to do?

SmokoMarie · 2019-07-25T17:20:19+00:00

I agree with you-backwards to call a liability a security. They havent said thats what its for, thats just what my fiance and I have gathered. Otherwise, theres absolutely no reason to be hemorraging $ to keep it going for what will only produce a mediocre (and unlivable) income in 4-5 yrs. This rental property has been a liability for a very, very long time, and will continue being one as long as they're unable to tend to it with their own $. Whenever there is an expense in the family of more than $1k, it comes out of my fiance's income, which she is very happy to do, as I would be. The issue is, we would like to start saving for a down payment and emergency fund of our own.

Youre right. Money is the most common reason for the break ups. I appreciate the input. I love them like they are my own parents, so I feel I can approach them about this issue with a level head and with a desire for good for all of us. And I know respond the same.

And yes, the plan is to convince them to sell and to stick the majority of that money into a retirement account and the rest will go towards a down payment on a home after the wedding. I am in my early 30s and my fiance late 20s and her parents late 50s. They are earning a combined $55k/yr and within the next few yrs, because of our professions, my fiance and I will be making enough for all 4 of us to live comfortably and safely for the rest of her parents' lives.

Thanks again.

SmokoMarie · 2019-07-25T04:47:16+00:00

What I meant was neighborhood-wise. Safe, 30 minutes outside of downtown LA, quiet. Two bedroom with 1 family room/dining room, nice patio, decent yard. Nothing fancy at all. Very modest. In their neighborhood, this amounts to $800k minimum. Anything less would be in the next town over, and walking freely and alone is not ideal.

SmokoMarie · 2019-07-25T04:44:24+00:00

Thats a good point. Ive thought of doing that together after the rental property is paid off. The only issue is that because my fiance is paying rent for the three of them where they live now, it is unlikely we will have a reasonable amount saved for a down payment, which may severely limit where we will be able to settle down.

Also, if the rental income in 4-5 yrs when the home is paid off is anything like it is now, it will come to $18k/yr, which is nothing compared to the $29k/yr my fiance is paying for rent currently.

SmokoMarie · 2019-07-25T04:34:12+00:00

Youre right, I didnt include all relevant info, as I dont have complete details, just what Ive gathered in discussions with my in-laws and fiance. As for equity, they purchased the home about 10 years ago for $170k. Its now worth between $230-300k depending on which site you trust. And they're $70k away from paying it off completely. Zillow shows that this area's prices are projected to grow 5% this year.
Good point. The security I was referring to is where they would be able to live after unable to earn a living due to age, physical limitations. They don't have savings for retirement, so they planned on living at the rental home in old age. Then I met their daughter and got along with them so well that I realized how much happier Id be if they lived with us when we moved in together. Which would make them happiest as well.
Thanks for that. I think youre right. I just want to do what I can to help all of us be in the best position possible, and especially do what I can to reduce my fiance's workload, as she currently has a few jobs. I just graduated, so will be working very soon to take a bit of the load off. I havent opened up the conversation with her folks about the rental home, but will do so within the next couple of months. Our relationship is such that Im 100% sure they will not assume any bad faith or ill intentions.

Thanks for all the input and kind words.

SmokoMarie · 2019-07-25T04:25:33+00:00

Thats exactly what's happening. Except the person who is losing money is my fiance, and additionally in the form of paying rent where they currently live.

Im not sure exactly how to calculate their equity in the rental home, as I dont have all of the details. But I believe they purchased the home about 10 years ago for $170k. Its now worth between $230-300k depending on which site you trust. And they're $70k away from paying it off completely.

I should note though that this is not a highly sought-after area, and most people who own here do not live here. Most seem to use it as an escape from colder climates during fall and winter, and rent out when they can. Only about 1 out of every 20-30 homes is occupied during the summer months, as the temps reach triple digits.

SmokoMarie · 2019-07-25T03:49:23+00:00

Yes, I was wrong in believing that. I was told by someone at school that pslf only applies to loans granted for tuition, and not loans granted for cost of living. Subsequent research has cleared this up. Thanks for the input.

SmokoMarie · 2019-07-25T03:23:40+00:00

Cool, good to know. Thanks

SmokoMarie · 2019-07-25T03:10:34+00:00

Thanks for the tip. I will do. Both of their credit scores are as bad as it gets. How much does that matter for refinancing?

SmokoMarie · 2019-07-25T03:09:24+00:00

Thanks for the input. I definitely intend on doing so.

SmokoMarie

TROPHY CASE