Are you maxing out your 401Ks?

No problem! Not all business owners are good about keeping their records but if they get audited the shit usually rolls downhill and everyone is on their own against the IRS. The IRS doesn't care what you were told or didn't know they'll take everything leaving you with $50 out of your paycheck if they attached you for future earnings (from your next employment checks) until you're paid up in full. In Massachusetts anyway for Federal and State taxes which of course are separate

You should move a lot of your $710k in savings to other accounts that grow, such as high yield savings accounts, bonds, and maybe an IRA

Work life balance and coworkers would normally be huge... but at this point I would say "which is more likely to not lay anyone off in the next 2 - 5 years" and go with that one

If you have a car payment according to the rules you are left with 42% "gross" left not take home. Now take out your taxes and insurance and that's what you are left with. That is going to be individual.

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Wait and see if you actually like your job after the honeymoon phase and for your wife to finish her degree. You'll want more than two bedrooms if you're having kids.

Thank you, if a CPA does advise an offer in compromise, and my uncle is willing to be fully transparent showing his brokerage statements, bank account, etc., would they take into account his financial ignorance and the lack of any meaningful gain? His trading history is very straightforward, and the paper trail is not complicated.

They don't. The IRS will if they ever audit you. Half our tax system is based on the honor system.

Really depends on how much you enjoy your current job now: responsibilities, coworkers, opportunities for growth.

Leaving for a 10k raise alone is very short term thinking. If you have good relationships at your current job, you can attempt to turn that into a 20-30% increase over the next 1-2 years.

You shouldn't need a lawyer for this. File a complaint with your state insurance commissioner. They exist to settle disputes like this and can be an advocate on your behalf.

It really depends where you live. Ideally, just go to the bank and ask them your options - you're a customer and they want you to join their bank if it's possible.

The specific bank doesn't matter too much, but they tend to have reputations for being good or bad if you ask family or friends.

I despise escrow. I got my property tax bill last month but it isn't due until January. I sent the bill to my servicer. There's enough in escrow to cover it. But they won't pay it until it gets closer to the date. It drives me nuts! It's my damn money! And it's ME who is on the hook if the payment is late. Seriously WTF!?

These are good thoughts, thank you. The bonus is actually part of my TC so I'm ok with this becoming the new norm (if things go well, this'll be my last job before I retire early). I've been maxing my 401k for a decade so I'm used to the old paycheck amount and I've got plenty of emergency savings in case things go sideways (they went VERY sideways earlier this year and I used <10% of my e-fund).

And I like the idea of 401k just being 'done' for the year - hence why I'm asking to see if I'm missing anything glaring.

Thanks!

Be careful just messaging on LinkedIn, go through proper channels, and 100% don't send private information through LinkedIn.

> he would be eligible for up to a $3,000 credit, correct?

No, he would have up to $3000 deduction to ordinary income that year. It has no effect on past years, and would at most bring your taxable income to $0 if your income is super low already… which does not produce negative taxes regardless.

> it was mechanically identical to someone trading with a retirement account

But it was not actually trading in a retirement account.

It is the retirement account that is mechanically similar to this general case, not the other way around. This is the normal way things work.

Retirement accounts are given special privileges (and associated limitations) not afforded to anything else because the government wants to encourage retirement preparations. Nothing else gets special privileges.

Yeah, I'm thinking of writing an FAQ on "How to ask a question."

Chronology is important and that's not a mundane detail.

I didn’t see that til now. A month is back.

Yeah she didn’t say that til way later on!

I use Barclays for savings. No minimums but all online. https://www.banking.barclaysus.com/compare-accounts.html

Well it took til now for op to say he returned for a month! All that was said before was he moved out !

Just remember to add other expenses as well if it's not included! Electricity, heat, internet, cable, etc

Thanks for your response!

My problem is definitely that SFs shouldn’t be included in savings.

I think I’ve decided to add the SFs as an additional expense category for the month-to-month deductions and then keep the structure I outlined above. Some of the SFs so have don’t necessarily get used during the same calendar year or at the same rate as what is saved monthly. (i.e., $6k sinking fund, but only used $3k).

Appreciate the food for thought!