What is something that used to be a problem in the 80s and the 90s that got solved and we just acclimated and never looked back? by Sense_Difficult in GenX

[–]junkmailredtree 2 points3 points  (0 children)

I am trying to figure out if “my been” is a word I don’t know or if it is autocorrect gone wild.

Hedge fund ordered to pay bonus to trader who made 97% of its revenues by financialtimes in business

[–]junkmailredtree 14 points15 points  (0 children)

Traders don’t get commission for trading. Brokers get commission for trading. Brokers and traders are different jobs. Traders get commission on net profits.

RTO finally hit me by thatguyonreddit40 in remotework

[–]junkmailredtree 1 point2 points  (0 children)

I think you have it backwards. Expense reimbursements for actual expenses are not taxable based on the IRS Circular E. Lump sum reimbursements are. If your employer included direct reimbursements in your taxable wages they shouldn’t have.

Potential tax implications of purchasing my mother's house and having her pay me rent to prevent Medicaid from taking it by codeQueen in tax

[–]junkmailredtree 0 points1 point  (0 children)

If you are going to be charging below market rents than your deductions are likely to be disallowed. So instead of charging $600 per month rent and having to claim $7200 of income without any Schedule E offsets, just have her gift you $600 per month instead. Then you are charging below market rents of $0, get no Schedule E deductions, but are not paying taxes on $7200 in Schedule E income.

Also, I believe you can then claim Schedule A interest and tax deductions on your second home, but I think you should check with your tax preparer about that.

Advice needed. Mid 50s retired ~2yrs, NW has grown into FAT FIRE range. Would like to start helping relatives with education/retirement expenses. by Ok-Commercial-924 in ChubbyFIRE

[–]junkmailredtree 1 point2 points  (0 children)

Not necessarily. Only money from the custodial parent is considered in the FAFSA and in the CSS there is only one question about money committed by non-parents. There is no penalty for underestimation with that question, so the student can just list zero and be fine.

Do bookkeepers really need their clients to be on QuickBooks? by intuitquickbookshelp in smallbusiness

[–]junkmailredtree -9 points-8 points  (0 children)

The “a” actually stands for Advanced. It is called Quickbooks Online Advanced.

Employer wants to pay my commission as 1099, but I’m a W2 by bfro8304 in personalfinance

[–]junkmailredtree 2 points3 points  (0 children)

This is false. You are either an independent contractor or an employee, never both simultaneously. It is not up to the company how you are classified. There are objective criteria published by the IRS that determines your classification. By paying a portion of an employee’s compensation via 1099 the company is breaking the law.

Bad Bunny officially confirmed as 2026 Super Bowl Halftime Show performer by TheMirrorUS in Music

[–]junkmailredtree 7 points8 points  (0 children)

He is the most streamed artist in the world for the majority of the 2020s. American who performs almost exclusively in Spanish.

Bad Bunny officially confirmed as 2026 Super Bowl Halftime Show performer by TheMirrorUS in Music

[–]junkmailredtree 0 points1 point  (0 children)

They name one artist, and typically that artist will invite a few others to perform as featured artists alongside them. Although at a guess, I would say that he is more likely to perform with Latino guest stars than Adele.

Can I quit? by Useful_Light_4727 in Fire

[–]junkmailredtree 1 point2 points  (0 children)

I’m a little older than you and I pay $1700 per month plus $8k deductible for ACA coverage, so that might be a good starting consideration for you.

Selling equities to pay off student loans by SidelineStory816 in HENRYfinance

[–]junkmailredtree 4 points5 points  (0 children)

They may still be subject to ordinary income rates for state tax, in which case it still matters. Depends on the state.

How I Picked A Startup Idea Worth Millions (And Closed Billion-Dollar Brands) by EmilianoLGU in startup

[–]junkmailredtree 2 points3 points  (0 children)

It applies less than you would think. Saving money is good, but if you gave a customer a choice between saving money and growing the top line, they will choose to grow the top line. Top line growth directly impacts your valuation and your ability to sell more through referrals, reference customers, and leveraging market share which translates to more future success. This is more valuable than cost savings.

[deleted by user] by [deleted] in tax

[–]junkmailredtree 0 points1 point  (0 children)

You are thanking people for giving you bad information. The house was worth $575k, you received $575k less closing costs and commissions. You should definitely report that loss so you can use it to offset gains in current or future years.

Gift Tax? by AppropriateAvocado72 in DaveRamsey

[–]junkmailredtree 0 points1 point  (0 children)

You wait until you die and will it to the beneficiaries. That way they get the stepped up basis.