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You mean the entire W2 was visible in the envelopes Window?

I don't see any regulations from an IRS point of view. You might see what your state has in terms of privacy or DOL requirements. https://www.irs.gov/instructions/iw2w3#en_US_2023_publink1000308267

While not a good practice I doubt much is going to come from this unless you have some type of other case you are putting together.

That is likely too low in the first couple years. When people are planning on selling their house, they often put off maintenance. Price a roof or furnace in your area and use that amount as your "worst case scenario" repair.

I'll definitely look into that

I moved money from a Trad to Roth IRA. So I believe this is a conversion. I believe customer service was incorrect to tell I can only do 1 a year.

What if I found a situation where the numbers work that 2 people would be able to cover the cost, but we still use 4 people equally 25% each? In your opinion, would that work?

For the items sold at a loss, combine them together and report as indicated here under "personal items sold at a loss."

For the items sold at a profit, report them on Schedule D.

Schedule C (Profit or Loss from Business) is not needed since these were personal use items.

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It has historic cash flow based on prior month expenses. If your getting the same expense every month at the same time, then it should be somewhat close.

It does the same with income.

I would not risk the hit to your credit, collections and the repo on your court records. Repos here in WI they have to sue you in court. Not sure how that works for you. Could you work with the dealership to take it as trade? I have heard of people rolling that debt into something else.

Thats what they’d effectively be doing if theyre all co signing lol

I pay it off every two weeks when I get paid. I guess I need to game the system to make it look like I don't use my credit card by waiting to pay it off until the night before they report?

Just convert the rest now. You'll pay ordinary income taxes on any of the gains, which should be nominal

What is it that you like better in simplifi compared to quicken? I was looking at them just yesterday.

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Yes. I’m trying to do the back door Roth

>Do I have to wait until next year to do convert over?

You are allowed by the IRS to do as many Roth conversions as you want during a given year, and for any amount individually / in total. You only report once for the total amount for the year on your 2023 tax return (filed next year), if that's what you came across?

I suppose whatever particular brokerage you have your IRA with could be more restrictive, but I can't think of any reason they would be.

>If I wait until next year, can it still fall under the 2023 tax year given it will be 2024 next year.

There are two pieces you're dealing with, with separate reporting requirements. First is your contributions, which go onto the tax return for the year you contributed for (even if the calendar date of the deposit is in the first few months of the following year). The conversion gets reported on the return for whichever calendar year you executed it.

>Additionally, does the interest earned on my current balance count towards the 6500 max 2023 amount.

No. Only new money going from your regular bank account into the IRA counts towards that max. Once contributed (which only counts what you're putting into the Traditional IRA, not the later conversion), the money you shift around between IRAs no longer matters for that limit. So any interest/growth that happens inside the IRA doesn't count against your $6500 allowed. However, if it happens before you convert into your Roth, that would result in some of what you convert being taxable (whatever interest accrued).

>What is the best strategy: Pay the minimum payment due (like $40) Pay what I can ($2000) and pay interest on the remainder? Pay the last statement balance of $4000 a few days late and pay the late fee?

If your goal is to minimize interest payments, pay as much as you can as quickly as you can.

1. I mostly hear people say max out your 401k before putting money into a Roth. I personally invest more in my 401k, but do put some in my Roth just to have a balance.

2. Your job likely matches 35% up to a certain percentage of your paycheck, so you'll need to find out what that is through your employer. For example it might be 35% of the first 6% that you put in. In this example on a 100k salary you would put in 6k and they would put in 2.1k. Then any extra you put in doesn't get matched by them.

3. I would recommend putting in the minimum required to get the full match of your employer (if you can afford to) then focus the rest of your money on paying off your debt.

4. REKTX is a target date retirement fund. Basically it's more aggressive early on and closer to your retirement date it will get more conservative to make sure you don't lose a lot of money right before you need it. My 401k has a similar target date retirement fund and I asked a financial advisor the same question. Basically you can invest it in something else like the S&P 500 if you really want, but that will need to be done manually by you and it's just more effort. My personal recommendation would be to leave the 401k on what it is and put your Roth investments in S&P 500 if you want stock in that.

I bought a new car last year and was receiving letters/advertisements to refinance it already. Hasn’t even been 12 months.

I’m going to guess the turn-around time to refinance is something short like 30 days. Now that doesn’t mean you should rush to refinance. Make sure your credit score has improved somewhat significantly since the time of financing, because the higher score will help grant you a new lower rate

> I’m reading about One indirect IRA rollover a year

Conversion /= indirect rollover

Friend... they are separate and distinct things.

You did not perform a rollover.

You performed a conversion.

Rollover rules do not apply to you.

Unless... you didn't actually perform a conversion. Maybe you should go back and clarify with your brokerage exactly what it is you did.

Do some research on what you could earn in a similar position with another employer. Make your case to your current employer about the fair market pay for your range of responsibility. If they don't meet your expectations then be prepared to leave.

I wouldn't recommend waiting around for multiple years in the hope of replacing someone else - if you're underpaid now, your employer will likely just low-ball you in the new position as well.

Optima better be negotiating >$4000 reduction on the taxes owed… otherwise what was the point? Their fee was 10% of what your dad owes, he could have made payments on a payment plan with the IRS and been 10% completed

> Someone on my brokerage customer service said I can only do 1 traditional to Roth conversion a year.

That's wrong. You can only do one indirect IRA to IRA rollover per rolling 12 month period.

You could do unlimited conversions.

> Now I’m trying to look this up and understand if there are tax implications if I do multiple a year or if it’s even possible.

Are you trying to do a backdoor roth?

I calculated 1% of house cost per year for repairs (I found that number somewhere online) would this be a safe number to use to put aside for repairs?