So it’s the dealership’s fault that you knew your car had a problem and decided to delay investigating or repairing it until you were both AFTER the warranty had expired and you “could barely make it to the dealer”?

I’m not defending dealerships here, but that’s a you problem, not a dealership problem. Sorry you had to pay the stupid tax though.

If they are a fulltime student (and under 24) they are still a dependent.

Odd. I applied for a Amazon Prime card right before Christmas and I've already received the physical card.

I’m so confused because I used my child. He’s 19 and I went through to see if I could claim him. He’s a PT student and made more than $4400.

For most/all of 2022, he provided housing Healthcare as my previous job didn't have insurance. I paid for my own clothing and some of my own food.

Don't count on the school picking up a parents' slack totally. Unless they've been in daycare/preschool since two-years old, those kids are going to be sick a minimum of twice a month. And, if they were like mine, they would stagger they days they had to stay home.

You will be surprised how many sick days you will have to sacrifice in order to pick them up from school and run them to doctor's appointments. They can't go back to school until fever free, either.

Don't do it. The return to an office would not be worth it unless 1) you have a nanny or a GMa ready to step in and/or 2) a husband who can take all that time off his WFH situation - for three kids. All the time. Don't forget your added expenses like clothes, dry cleaning, gas, car maintenance, and just the unpaid labor of a daily commute.

That would be part of the test for a qualifying relative, not a qualifying child.

Are you contributing anything towards housing costs? Who pays for most of your food, clothing, healthcare costs including insurance, etc.?

I just went through worksheet and it asks if the person made more than $4400 during the year….

There is no income cut-off in determining if you are a dependent or not.

I wouldn’t right now, it’s pretty volatile rn. I would suggest using money in cook groups

I believe you make too much to be claimed as a dependent. But I could be wrong.

At a T-bill auction most investors enter a non-competitive bid. You are bidding for the amount of T-bills you want and agree to accept the auction price, whatever it turns out to be. Large investors and institutions enter competitive bids, indicating the rate/yield that they will accept. Those competitive bids help determine the outcome of the auction and the rate/yield you receive.

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Looks like median income for a civil engineer is 88k in NYC

source (levels.fyi)

This is off topic, but are you staying in the same company for 20 years?

1. Pick the car you want.
2. Contact dealer 1 and ask for best price out the door
3. Contact dealer 2 and say “I want this car. Dealer 1 quoted me $X out the door. Can you beat it?”
4. Contact dealers 3/4/5 and repeat. Go back to Dealer 1 and repeat.
5. Arrange financing from bank/credit union, and buy from whoever gave you the best price.

Contacts can be done entirely by email.

It’s actually not up to you. The IRS has rules that decide

https://www.irs.gov/help/ita/whom-may-i-claim-as-a-dependent

I’d suggest filling out their worksheet

I skimmed the comments so I apologize if this is a duplicate question….are you happy at your job? With everything you’ve laid out it seems like staying is worthwhile to keep the flexibility. As a single mom I can say this for me would be worth staying IF I was happy in my role.

Sure, if you are consistently going between high and low tax rate years you might want to avoid carryovers - that isn't typical though.

As for 'choosing exactly when to do it' - you don't get to choose when you actually have losses. For most people, taking advantage of those moments to transfer capital losses from offsetting lower-taxed gains (or becoming gains themselves) to higher-taxed ordinary income offers very real value that you definitely shouldn't actively avoid.

Since he became a manager he is salaried- no more OT

No flipping at all for me. I already have a job lol. I buy about 1 to 2 houses a year, which allows me to be really selective and buy better deals instead of buying at volume like flippers do.

So I try to buy houses under market value, fix them up to create equity and then rent them out. Eventually you refinance them.

Great example, bought a townhome for $170k cash directly from the owner (no realtor). It was worth $220k at the time but worked a great deal out for the seller. Rented it out for about $1200 a month. 6 month later it was worth $240k.

I refinanced and got a check for $170k. My rents also went up to $1300 a month with a loan payments and other expenses at $900 a month. So now I can go use that same $170k and buy another property while creating $70k worth of equity that continues to increase in value while the loan decreases and giving me tax shelters. If I could find that every year it would be amazing.

Nearly impossible to get that type of return in the stock market with astronomical risk.

Quick math says that if you grossed $87k last year, you logged about 200 hours of OT total. With the ability to work unlimited overtime without approval, your better bet is probably to bump that from the ~4 hours/week to 10 or so. That would gross you another $15k/yr and still maintain almost all of the flexibility you have now.

I applied for a card two weeks ago and received it this week. That was Capital One. Also, if you’re in dire need for the card, could they provide card details for digital wallet?

Chase seems to always offer $200 bonus for spending $500 in the first 90 days on a few of their $0 annual fee cards and I think that should be your baseline.

Think of it as 1% cash back, you can get that any day any where so it's not really a great deal. Anything giving you less without another valuable benefit is not worth your time.

But don't cancel credit cards! You want to open several good accounts and keep them open in the long run to build credit. The Chase Freedom Flex for e.g. is pretty good, you get a few months out of the year you can earn 5% cash back on gas, groceries, paypal (so basically 80% of online shopping), etc.

What does good year give you? 1% rewards towards your next purchase of good year tires? But I like Michelin, they make the best summer tires.

Because your forced to use carryover. One of the benefits of THL is you can choose exactly when to do it. With carryover it's not optional.

It's not the end of the world of course but I just prefer to avoid it.