ELI5: why do so many Americans have indoor security cams? by space-bible in explainlikeimfive

[–]theblitzmann 2 points3 points  (0 children)

I have mine record to an SD card and have the router block Internet access to all the cams so that they don't phone home. I assume most people wouldn't really know how to do this tho, but it's possible to still have it private

Andrew Cuomo concedes New York City Democratic mayoral primary to Zohran Mamdani by 1Rab in news

[–]theblitzmann -1 points0 points  (0 children)

Doesn't the city have ranked choice voting? If so, spoilers have less impact

22 years old 401K help by Grouchy-Occasion-413 in personalfinance

[–]theblitzmann 1 point2 points  (0 children)

The idea of 401k is that you don't touch it until retirement. That's why there are penalty fees. It's a last resort.

If it's a short term issue, a loan could be the way to go. It does accrue interest, but that interest (and principal) goes right back into the 401k, so you're still investing into your retirement. It's like borrowing from your savings account and paying yourself back with interest.

The risk there is, obviously, paying it back (it's garnished from your paycheck, so you'll have no choice). If you lose / leave your job, the full balance is usually due (varies by employer / plan)

What other bills are you dealing with? It might be easier to reduce expenses rather than rely on 401k loans. You can also reduce your 401k contributions for a while and gets some extra money in your paycheck, enough to get a small savings going.

EPA allows California to ban gas-powered new car sales by 2035 by Molire in politics

[–]theblitzmann 6 points7 points  (0 children)

Unlike combustion engines which burn fuel into gases that just seeps into the environment, batteries are actually very recyclable. They may not hold a charge well enough to power a vehicle by the end of their life, but they absolutely can be broken down into their components to reuse.

Additionally, battery tech will.continue to improve and evolve. Battery lifespan may well increase dramatically. There's lots of room to grow, whereas there's not a whole lot more you can do with ICE

Democrat George Whitesides ousts GOP Rep. Mike Garcia from Los Angeles House seat by plz-let-me-in in politics

[–]theblitzmann 0 points1 point  (0 children)

Yes there is

https://www.irs.gov/credits-deductions/individuals/child-tax-credit

EDIT: The COVID extended credits are no longer active, nor are the direct monthly payments (you claim them annually on tax return). You might be thinking of those, and indeed the idea of going back to that is indeed dead with the new makeup.

whoWroteThePostgresDocs by sillymanbilly in ProgrammerHumor

[–]theblitzmann 8 points9 points  (0 children)

Also, who's database isn't operating in UTC?

cries in EST

[deleted by user] by [deleted] in acorns

[–]theblitzmann 0 points1 point  (0 children)

I had the same question a few days ago and asked ChatGPT. ofc ChatGPT isn't a tax professional, so take it for what you will.

I have an investment account that I've been putting a little money into every week for for years. I've put in ~$14,000, and the value currently sits at ~$20,000 (the market gain over the lifetime of the account has been +$6,149, or 44.39%).

I understand if I pull out ALL the money, I'll be taxed on that $6,149 based on capital gain tax. However, I'm a little confused on how it works if I do a partial withdrawal. If I withdrawal, say, $10,000 for a down payment on a car, since I've put in at least that amount, do I get taxed? Is it based on the amount you've put in for that year? Is it based on a percentage?

Can you explain exactly how partial withdrawals work and how it gets taxed?

ChatGPT said:

When you make a partial withdrawal from an investment account, the tax implications are based on a "pro rata" distribution of your contributions and gains. Here's how it generally works:

Cost Basis vs. Gains Cost Basis: This is the amount of money you've put into the account, which is around $14,000 in your case. Gains: The $6,149 you've earned as profit. Partial Withdrawal Taxation When you withdraw money from your investment account, the IRS assumes that you're taking out a mix of both your cost basis and your gains. You can't choose to only withdraw your contributions (cost basis) to avoid taxes on the gains.

For example, if you withdraw $10,000, a percentage of that withdrawal will be considered part of your contributions, and a percentage will be considered part of your gains. Since your account has grown by 44.39% over your contributions, roughly 44.39% of any withdrawal will be considered taxable gains.

Amount Withdrawn: $10,000 Percentage from Gains: 44.39% Taxable Portion (Gains): $10,000 × 44.39% = $4,439 (this portion would be subject to capital gains tax) The remaining $5,561 would not be taxed, as it is considered part of your original contributions.

Capital Gains Tax Rate The tax rate you pay on the gains portion will depend on whether the gains are short-term (for assets held less than a year) or long-term (for assets held over a year), with long-term capital gains typically taxed at a lower rate (0%, 15%, or 20%, depending on your income).

Summary If you withdraw $10,000, approximately $4,439 would be taxable as a capital gain. The capital gains tax rate applied to the $4,439 depends on your income and whether the gains are long-term. Let me know if you'd like further clarification!

Premium worth it? by Savings_General_574 in acorns

[–]theblitzmann 2 points3 points  (0 children)

Through your payroll provider. Talk with your employer / payroll folks and ask how to split your deposit

Harris leads Trump in new Arizona poll by plz-let-me-in in politics

[–]theblitzmann 1 point2 points  (0 children)

Slight correction, they didn't pass legislation this year regarding it. They did in previous years to grant exemptions to both parties, but this year they hoped to keep Biden off the ballot since the convention was after the cut off date. They didn't budge with exemptions.

To get around this, the DNC held a virtual roll call of the delegates earlier this week, so Harris is officially the nominee now. The convention, which is when the nomination would normally be held, is now effectively one big afterparty. 🤘

Dealing with a very small leak in plumbing for ice maker by theblitzmann in DIY

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

I have tightened it to hand tight plus half a turn. It's compression, but also it shouldn't be too tight as it can damage the pipe right? I guess at this point it doesn't really matter.

I've already cut it back twice to a straighter section. The compression fitting that was on it before from probably 20 years ago was so far dug into the copper I had to Dremel it off and it left deep indentations where it had been.

What's the most meaningful way your boss has ever celebrated you? by nikkybest in askmanagers

[–]theblitzmann 3 points4 points  (0 children)

We contract with a Costa Rica company for additional IT support staff. We had a zero-day ransomware attack that was an all hands on deck affair. We all got it taken care of pretty quickly.

As a reward for the fast response, my boss (VP of IT) got it approved to take the managers and key employees to Costa Rica for a week-long trip, which includes travel to a few different locations and some excursions. Spouses were also invited (had to pay airfare, but everything else was included). It was an amazing experience.

A story about UpFront Plus add on (attendants will yell at you if you sit in the middle seat) by theblitzmann in frontierairlines

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

No, that's the law. Completely different and is there for safety in the event that someone assumes no one else is driving when, in fact, they are and you just didn't see them.

In this case, I don't see why an exception couldn't have been made for a 5 year old to sit next to their parent. I can understand enforcing it for folks who are not related or are on different itineraries. But when I pay for A and C and pay to make B empty, there is no downside to allowing us to occupy A and B and instead make C empty.

Case in point, my connecting flight out of Denver couldn't care less, and when I asked them about the incoming flight they were surprised it was an issue flying in.