Check the impound yards. Might get lucky on a lien sale vehicle.

How many miles on your Legacy? Besides the recent crash, you think it was doing fine? I have a 2011 Legacy, and you're making me worried about mine.

You talking cash dollar bills?

No. The bank will do the reporting for you. Why do you need to withdraw that much in physical cash?

Or the employee slips and falls and is now in a really tough spot. Needs benefits or unemployment etc

Thanks for the encouragement!

It can be scary and confusing doing all this financial adult stuff that you're supposed to know, but no one really prepares you for it and you don't know to prepare because you don't know it's out there. Bit of a Catch-22.

That's shitty to have your forgiven loans counted as income. Plenty of businesses and rich people have gotten loans forgiven, but above below them can't? That's such BS.

Good luck!

I do not. Look in your area for a thing called a VITA tax site. Usually through the United Way. Free tax prep if your income is at least reasonable.

Your math is fine

The vehicle is covered for the agreed use lol. You’re misunderstanding, most insurance companies will write policies that include business use but if you lie and don’t tell them how can they know to include it? Should every single person pay increased premiums because the insurance company is assuming that every single person is driving for business? Does that make sense

Where is all his money going! Making nearly $90K a year and can't save anything over a few grand?

It's very hard to find reliable vehicles for 10K but not impossible. He is probably going to need to look into other jobs or borrowing from family if his credit is bad.

Okay, that's what I thought you meant. Thanks, I'll go ahead and increase my existing contribution to my employer 403b. Is there a reason why that's a better way to go than increasing my contribution to my employer Roth 403b (after tax money)?

Thanks for your comment. I’m 26 so I know I still have some time. I’m anxious thinking about saving for retirement and other things and knowing I have all this debt.

I don’t think refinancing is an option with federal loans, but I will look into it.

I’m currently putting my income from that job into a HYSA and plan to make a payment on the highest interest loan before the interest starts accruing. Maybe I will make a small contribution each month to my IRA to make myself feel better.

I won’t finish my degree until August. I have to stop working in May because I’ll be doing an unpaid internship and studying for the board exam from May 8- July 26. But once I start working I’m already planning on getting a full time job and a PRN gig on the weekend.

I ran the numbers through the federal student aid repayment calculator and they estimate monthly payments of $1710 on the standard repayment plan. I’ll be living with my fiancé so my expenses will be fairly low.

I’m also scared of the tax bill if I get my loans forgiven, which is one reason I don’t want to go that route.

Thank you so much for taking the time out on this reply. My head is kinda exactly where yours is at on this. The equal division makes a ton of sense. I thought about getting an appraisal soon to see if the cost of the house has went up and from there decide an initial payment from her. From there I would have something that states my name could be on the mortgage for X amount of years and by a certain time my name has to be off. We talked about 2 years to allow some time for interest rates to drop (or increase which would suck for her lol) During that time there could be a monthly comp until my name is completely off. At this time maybe another appraisal and split payment on that as well? I don’t know just spitballin lol.

It says exactly what I said.... your AGI includes cents.

Isn't there a thing where you don't have to pay taxes if you roll your house sale into the purchase of another house?

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Thanks.

Would you know how much is the minimum taxable income?

Look into being a “non borrowing partner” not sure if all lenders do it, but I believe you can still be on title, but not the loan.

When I divorced, I never could get a refinance on the unique property we had bought together that I had kept.

Although it is ideal that you refinance or sell, it certainly is common in a divorce for this to happen.

My advice is for you to determine your shared net worth and figure out how to divide that equally as of the sate of the divorce. If there is $50K equity in the house and she's going to end up with the house, then you need to send up with something worth $25K.

Or said differently: after the divorce, the net worth you both take from the marriage should be identical. If she's taking $25K of equity in the house, you should take $25K in equity in something else (car, cash, etc.)

From the point the divorce is final she should be 100% responsible for the house.

The other critical point is that for anything which isn't a clean break such as the house, you need to have in your divorce decree language that lets you take unilateral steps to prevent a default on the underlying loan. That is, if she stops paying, you can assume payments, and if you have to do this there should be serious penalties. There also should be language which permits you to either require immediate refinance or immediate sale if she stops paying. You'll want a lawyer to check out the language which gets used here.

What you're trying to do is to create a situation where you're being completely fair, yet protect yourself down the road.

I also understand the desire to get paid for having the mortgage on your credit report. If you want to add a term in there where you get paid $x per month for as long as your name is on the mortgage that doesn't seem unreasonable. I would avoid one time payments, as if she keeps that for 20 some odd years you'll want to be paid for 20 years. I might consider indexing it up over time, so that it becomes more and more advantageous for her to refinance. IE $100/month for the first year and increasing 10% per year thereafter. Not suggesting you use these figures, just using those as examples.

1. Can you get the loans with higher interest refinanced to a lower interest rate one you're ready to start paying off your loans? With perhaps a co-signer on the loan of need be? Just to let you know, a co-signer will be responsible for the debt if you don't pay it. Think about how that will impact your relationship with them.

2. How old are you? I didn't start putting money in my fund until I was 25 and it was 2% to get my employer's 2% match. If you're in your late 20s, you still have time.

3. My personal opinion: start paying off those student loans to make life a little more easier in repaying them. If you really want to contribute to your Roth IRA, put some aside. Ex., you have $500/month to contribute to your student loans and/or IRA. You can pay $400/month to loans and %100/month to the IRA.

4. Once you finish your degree, would that open any side jobs to use those funds to pay off more of the loans?

$165,000÷120 months (10 years)= about $1,375/month, excluding interest.

It's protection essentially for her things. It is a little redundant but if her parents house has a fire and they have a lot of expensive/significant stuff in there it can exceed their policy limit for reimbursement which would leave her out in the cold, kinda literally.

Ok we'll roll with that and see if she missed something or if it's on them. Thank you for all the info!

If they don’t withhold any state taxes you don’t really need a corrected w2. I would think.

You only need to show investment income if you made taxable income while in the state.