The part you’re leaving out is that he LIVED in California in their home and was not listed as a household member!!!!

Yeah I don’t think they provide any additional value

Credit card 0% APR offers. Will cost 1-3% of the initial draw amount but has a set term of zero interest. Pay it off before the interest hits. That personal loan is higher than a excellent credit card apr.

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Note, the threshold for 1099 reporting of internet cash activity was lowered from $20,000 a year to $600 a year, starting for the 2022 tax year. Venmo's FAQ says that is for goods and services. Splitting a restaurant check or a utility payment should be marked personal instead.

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Are you planning on accusing the dealership of charging you for a repair they didn't perform? Do you have any evidence whatsoever of this fraud?

It's far more likely there was a leak and it may or may not have needed fixing, but it was fixed and you were charged for that. Again, the mechanic doesn't guarantee that the repair they perform is the only one the car needs. That's not how car repairs ever work.

Put up a couple hundred to open a secured card. After a year or so (I think) you'll get your deposit back.

We don’t understand what you mean by “removed.” The car was removed from the policy? The nephew was listed as an excluded driver? The nephew was no longer listed as a member of the household? Those are all very different.

You owe US taxes on worldwide income so that income is also taxed by the IRS. However, you get a dollar-for-dollar credit on taxes paid to Germany so you're probably safe from double-taxation. Read up on the Foreign Tax Credit and Form 1116. Turbotax and its competitors probably handle this. Here's turbotax's blurb on it: https://turbotax.intuit.com/tax-tips/military/filing-irs-form-1116-to-claim-the-foreign-tax-credit/L2ODfqp89

So if the company provided a 100% match you would contribute 100% of your salary?

Personal loans from other banks and credit unions may have lower rates. If you can qualify for a credit card with that limit offering a 0% promotional interest rate, and make whatever purchase using your card, that would work as well. Ideally, you'll go back to the drawing board and not borrow the money at all.

A personal loan from a bank is likely the best way to borrow unsecured.

And the later in life you are (and larger the balance is) the less it matters since you start with a larger and larger balance each Jan 1

They told us that there was a leak and that it needed fixing. All we know is that the check engine light was on when we took it in and that it's on again after 10 miles.

There's no way for us to know that they actually did anything other than turn the light off temporarily.

Honestly that makes me feel a lot better so thank you. And we will be getting him a bank account as soon as he gets back from his convention. I've been researching the local banks and credit unions so I have it narrowed down. I really want him to be able to see how much he actually spends because it's ridiculous what he can blow through without even realizing it. But I told him this was a conversation that we needed to have and take seriously if we are going to have a future. But I'll be researching professionals too.

Tax may or may not have been withheld, but that doesn’t change how much was OWED.

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Understood. It may be boiler plate for the accountant to reach out to do year end planning regardless of your individual situation. It also sounds like you have a good bead on your business status and requirements. Not all business owners do.

I mean, everything goes by a rule of thumb. "Good financial practice" would be to keep your rent no higher than a third of your take home. If you dont spend much and youre ok to not be saving much then you can go for it. Just make sure you have a decent emergency fund as that apartment will limit your flexibility for rainy days

Thank you!!

this is the ideal scenario. sadly the stick and carrot routine is a common trend :(

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Good to know I dont need to consider that point. Thanks!

You report the income on your US taxes exactly like income you earned in the US, US citizens are taxed on worldwide income by the US.

If you paid taxes to Germany, you can claim a tax credit for those taxes using form 1116.

https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit