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baquerd posted:BTC don't do dividends as far as I know, so holding them should indeed be tax free. Can't tax money if it's not real. 
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Jun 30, 2017 00:02
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baquerd posted:BTC don't do dividends as far as I know, so holding them should indeed be tax free. When you sell, your gains are treated as income. If he's merely talking about avoiding any capital gains taxes on dividends or similar, the advice is https://www.irs.gov/pub/irs-drop/n-14-21.pdf
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Jun 30, 2017 00:29
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Vox Nihili posted:When you sell, your gains are treated as income. If he's merely talking about avoiding any capital gains taxes on dividends or similar, the advice is I would expect the gains to be capital gains and not income, and also that dividends aren't taxed as capital gains, but I admit that I didn't click your link.
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Jun 30, 2017 00:33
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Leon Trotsky 2012 posted:Someone at work got in trouble for using the "ALL" email address to send this out to several hundred people. Leon Trotsky 2012 posted:Here's another good email I had saved from the office "Stock Guru" who was trying to help with my investments. Leon Trotsky 2012 posted:This dude put 116k - his ENTIRE Roth IRA Balance - into RiteAid stock in advance of their merger with Walgreens. OctaviusBeaver posted:Couple buys a car, then has a "personal and financial crisis" that they solve by abandoning the car at the airport and leaving the country. They called the dealership on their way and told them where to pick it up, assuming that would solve everything and they wouldn't owe any more money. Man when this thread is good it's reeeeeaaaaalllllyyyyy good
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Jun 30, 2017 00:41
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OctaviusBeaver posted:Couple buys a car, then has a "personal and financial crisis" that they solve by abandoning the car at the airport and leaving the country. They called the dealership on their way and told them where to pick it up, assuming that would solve everything and they wouldn't owe any more money. I really like how they were driving 4.5 hours ONE WAY to work for $12 an hour. There is no place in America it is worth it to do that.
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Jun 30, 2017 00:44
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Subjunctive posted:I would expect the gains to be capital gains and not income, and also that dividends aren't taxed as capital gains, but I admit that I didn't click your link. Yeah without getting into the specifics, the IRS seems to have a pretty substantial web of rules re: classifying your income based on how you acquire the crypto, how you use it, etc. I suspect that a lot of people trading crypto simply don't pay any taxes on it, though, which is extremely BWM in the long term. (You're also correct that most, but not all, dividends are not taxed as capital gains.)
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Jun 30, 2017 01:05
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blackmet posted:I really like how they were driving 4.5 hours ONE WAY to work for $12 an hour. My dumbass brother drove 2 hours each way for a $9/hour job but he has legit mental issues. I had a guy drop off his keys at the bank once. They think it's now over, but then the bank sells the car at auction for $5k less than the loan amount and you get sued for the difference.
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Jun 30, 2017 01:45
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OctaviusBeaver posted:Couple buys a car, then has a "personal and financial crisis" that they solve by abandoning the car at the airport and leaving the country. They called the dealership on their way and told them where to pick it up, assuming that would solve everything and they wouldn't owe any more money. This one is just incredible and the OP only kind of touches on the madness. OP gets in over their heads on their car loan and decide to surrender the vehicle. Only instead of taking it to the dealer and dropping off the keys, they drive it 4 states away to NYC, call the creditor, and say "your car is in airport parking at JFK Airport, come pick it up  " and just assume that they've somehow successfully washed their hands of the whole process.Meanwhile, the creditor apparently never comes to pick up the car, because why the gently caress would they when it's 700 miles away in a paid lot. So after some unknown period of time racking up probably $30-50/day in parking fees, it gets towed and impounded by the NYPD, racking up additional storage, towing, and abandoned-vehicle fees. Fast forward to the present day, a year and a half later and OP still hasn't done poo poo to resolve the situation other than assuming that a vague "repossession" note on their credit report means that everything has been magically sorted out. NYPD has finally mailed him a notice that they're imminently about to auction the car off unless he can pay the entire sum he owes them (from other posters, likely to be into five figures at this point). And since it's a car with a busted-rear end transmission it's probably not even going to get very much at auction. So to summarize, in early 2016, at the start of his odyssey, OP owed: 1. Some unknown amount of money to the dealership for a 2015 Nissan. (I should emphasize here that it's not even clear he was behind on payments or otherwise in financial trouble, the only thing OP mentions is anger over having the transmission crap out twice. It's possible he may have just been pissed been the car was a bit of a lemon and thought that he could just "give it back" to the dealer and be done with it.) At the present time, OP owes: 1. Some unknown amount of money to the dealership for a 2015 Nissan. 2. Late fees/penalties/interest for a year-plus of not making payments on the above. 3. $$$ in daily parking fees to the JFK Airport parking authority after he dumped his car there 4. $$$$$ in daily storage fees to the NYPD after they finally impounded his car from the airport 5. Fines/fees from the NYPD for OP's abandoned vehicle and towing thereof His car is about to be auctioned by the NYPD, which will probably not even cover his fees to them, leaving him on the hook for 1. The remaining balance of what he owes to the NYPD 2. The balance + possible late fees for the time it was parked at the airport 3. The entire amount of money he still owes on the loan to the dealer + late fees/penalties/interest, because thanks to OP's brilliance, at this point there's not even going to be a car for the dealer to repossess. This doesn't even get into the insanity of the 9-hour roundtrip commute for a $12/hr job, which is some AAA++++++++ WOULD READ AGAIN level BWM all by itself.
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Jun 30, 2017 03:41
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I think there's a Louis ck bit about doing something similar with a rental car.
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Jun 30, 2017 04:05
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Virtue posted:I think there's a Louis ck bit about doing something similar with a rental car. That was about when he was late for a flight and figured gently caress it, park at the curb and call the rental company which was 3 blocks over. Which is also stupid, but not nearly as dumb as the other story on any level, also it was a Louis CK joke so even if he actually did that (he didn't) he made a joke about it for an act he makes millions off so probably GWM in the end.
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Jun 30, 2017 04:11
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Ixian posted:That was about when he was late for a flight and figured gently caress it, park at the curb and call the rental company which was 3 blocks over. Having listened to Louis CK for over 10 years I see no reason why he wouldn't do such a thing and no reason to make up a lie about it
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Jun 30, 2017 04:38
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Known Lecher posted:This one is just incredible and the OP only kind of touches on the madness.  I've abandoned my Nissan I abandoned my car
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Jun 30, 2017 04:48
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Vox Nihili posted:"I've gone with real estate, precious metals, and some areas where you can put your money to let it grow without taxes (PredictIT, Bitcoin, and Savings (???) are my go to options." I want so badly for this to actually be emails that Leon Trotsky 2012 is sending his coworkers. I'm open to the idea of a split personality situation where he tells us about the BWM his other personality engages in.
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Jun 30, 2017 04:50
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Vox Nihili posted:When you sell, your gains are treated as income. If he's merely talking about avoiding any capital gains taxes on dividends or similar, the advice is Everything you do with bitcoin or other cryptocurrency considered purchase and sale of property by the IRS (NOT currency and specifically not subject to the generally favorable tax treatment of forex trading) and all income or capital gains are taxable at the then current USD exchange rate.
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Jun 30, 2017 04:50
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quote:This doesn't even get into the insanity of the 9-hour roundtrip commute for a $12/hr job, which is some AAA++++++++ WOULD READ AGAIN level BWM all by itself. I assumed this was 4.5h return. No, no. This is 4.5h ONE WAY. Holy poo poo quote:It was 4.5 each way...and there are no year round jobs around which you need to be able to rent, seasonal only. 4.5 hrs was to the closest 12$ /hr job. So yea, it was pretty dismal.
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Jun 30, 2017 05:23
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Suspicious Lump posted:I assumed this was 4.5h return. No, no. This is 4.5h ONE WAY. Holy poo poo Or maybe they are just completely full of poo poo as to the real situation. I mean, what they actually posted was dumb enough. Odds are the reality is even dumber than that.
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Jun 30, 2017 05:33
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One of the comments suspects they were driving for Uber/Lyft, which would make more sense. No idea why they'd try to hide that and go "oh, we live 4.5 hours from work!" instead, though.
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Jun 30, 2017 05:38
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BEHOLD: MY CAPE posted:Having listened to Louis CK for over 10 years I see no reason why he wouldn't do such a thing and no reason to make up a lie about it Fair enough, it was a funny story and I suspect if you worked <minutes to tell joke> into his overall compensation for the special he still came out way ahead. Not that this unfortunate and dead-stupid couple are in any way in the same situation.
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Jun 30, 2017 05:45
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Suspicious Lump posted:I assumed this was 4.5h return. No, no. This is 4.5h ONE WAY. Holy poo poo quote:To put into perspective we live 4.5 hrs away from work (back and forth every day) and the work was driving related during the work day. On top of that every one day off a week we would travel for see something new ( before things turned sour money wise) driving a lot was our lifestyle for a while. It is possible. I originally read that as 4.5 hours round trip but unimaginably it was each way. That's so mindbogglingly dumb I can't believe the guy isn't making it up. How the hell would this guy even have time to work? Dumbass posted:It was 4.5 each way...and there are no year round jobs around which you need to be able to rent, seasonal only. 4.5 hrs was to the closest 12$ /hr job. So yea, it was pretty dismal. For reference, NYC to Annapolis, Maryland is apparently 3.5 hours. It will almost get you to NYC to Woodstock, Vermont.. if it were mostly highway, it's the equivalent of living in San Antonio and commuting to Dallas every day (probably more like this if you consider he put 100k miles on his car in 6 months). For the princely sum of $12/hr. Edit: Looking at it a different way, assuming work started at 8am and stopped at 5:oo pm, then he'd be leaving the house for work at 3:30am and getting back around 9:30pm every single working day. Frankly, I'd be impressed if someone with this schedule decided to spend their free time driving, or basically doing anything but being comatose on the weekend. GamingHyena fucked around with this message at 05:53 on Jun 30, 2017 |
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Jun 30, 2017 05:47
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I actually know a guy who spent a summer commuting eight hours a day, four in the morning and four to get home. His wasn't QUITE this bad, because he was driving to a bus stop and then doing a bunch of bus and train transfers, so he had time to read and relax instead of spending eight hours driving, but it was insane. One of his coworkers observed that he was working a full time job in order to get to his full time job, and the guy shrugged. He was living in Pennsylvania with his parents and commuting to NYC. After three months, HR managed to convince him that he should just take a day off of work, look at a bunch of apartments, move somewhere closer, and file it all as relocation expenses that would get reimbursed by the company.
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Jun 30, 2017 06:07
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Coca Koala posted:I actually know a guy who spent a summer commuting eight hours a day, four in the morning and four to get home. His wasn't QUITE this bad, because he was driving to a bus stop and then doing a bunch of bus and train transfers, so he had time to read and relax instead of spending eight hours driving, but it was insane. One of his coworkers observed that he was working a full time job in order to get to his full time job, and the guy shrugged. The problem with this story is it seems almost reasonable in that the person at the center was brought to their senses in a relatively short amount of time while the Reddit post referenced is bug-poo poo crazy. If it ended up being some elaborate troll due to some teenager having a boring weekend I wouldn't be surprised...except I do know of people who manage to breath in and out every day who are that loving dumb.
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Jun 30, 2017 06:11
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GamingHyena posted:Edit: It makes just the slightest bit more sense with 3 or 4 longer shifts per week.
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Jun 30, 2017 06:38
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canyoneer posted:
*quietly to myself afterwards* That's a bankruptcy.
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Jun 30, 2017 06:44
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Coca Koala posted:I actually know a guy who spent a summer commuting eight hours a day, four in the morning and four to get home. His wasn't QUITE this bad, because he was driving to a bus stop and then doing a bunch of bus and train transfers, so he had time to read and relax instead of spending eight hours driving, but it was insane. One of his coworkers observed that he was working a full time job in order to get to his full time job, and the guy shrugged. Finding an apartment in one day in NYC? Now I know this story is made up.
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Jun 30, 2017 07:23
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Just gonna leave this here... ---------- Life happened; help me get out of 3 auto loans? First of all, thank you all for helping and I'd appreciate no judgement or criticism here; I've heard enough of it lately and I completely understand the situation I'm in, I also know it could have been avoided (several times, albeit). Live and learn, right? It's a bit of a spiel so thanks again for reading... Anyway, I'm 23 and I'm a Paramedic for a rural ambulance agency. About 2 years ago in the fall, I got my first vehicle, a 2012 Dodge Charger. It's my baby and after sliding around in that all winter, I decided it wasn't entirely practical where I live. I was also starting paramedic school at the time. I was fine driving it most of the following year, but as winter approached again, along with required vehicles and clinicals being 4hrs away in the city, I needed a reliable A-to-B ride and something that could handle the winter. I ended up getting a 2013 Dodge Avenger (FWD, and from DriveTime of all places). The Charger ended up being parked and I took the Avenger to school, work, hospitals, other Fire Depts/EMS agencies, etc. Medic class finished about 7 months ago, and I started to have more breathing room financially. My sister who lives in the city needed help with another car (her and her husband shared a car, worked opposite schedules, have 2 toddlers, etc etc her problems). She was willing to take over payments, pay me monthly, only wanted the title after the loan was paid off. She's my oldest sibling, and the most responsible (at the time), so I figured I could trust her. I went to start to use the Charger again (kept it under covers; again, it was my baby), but it ended up housing a bunch of mice during the winter months and that was some costly detailing, decontaminating and repairing that took some time to deal with (mostly due to the dealership along with me having to save up to make payments on all of that to get it back). I was car-less, and the dates on repairs/etc being completed kept getting pushed back. My sister eventually offered to co-sign for a new (used) vehicle for me, as she was taking over the other one. Sooooo my dumbass ended up getting a 2013 Camaro... Sister ended up getting addicted to crack, lost her husband and kids, and couldn't afford the car. I took it back, and thought all was lost when my older brother offered to take over (again, super responsible, drove an old beater, etc). Until last night, where I got a phone call from the ER saying he was brought in by police (he bought a pistol, him and his gf were going to off-themselves...she was successful and he witnessed). He's now being transferred to a psych facility. So, I'm now stuck with 3 auto loans. I have another brother (last sibling I promise lol) who works alongside me at EMS (we went through medic class together), and between this brother, myself, and my dad, we split bills at my parent's house amongst our other personal financial obligations... I make $17/hr, with a minimum of 96hrs a pay period (4 24hr shifts). So about $2900 after taxes a month. I've been getting lucky as of late, getting at least an extra 24 or 48 a pay period of OT, but as that's not always promised we'll base it off a typical 96. Monthly expenses include: *$200 for cell phones (I cover the household's plan) *$180 for dish/internet *~$330 insurance for the cars *~$330 Camaro payment *~$307 Charger payment *~$385 Avenger payment *$80 credit card payment Charger payoff is $13,366.48, costing $307/mo. It's my baby as I've mentioned, and as it's been kept under covers and had great upkeep before and after the rodent incident, it's worth the most. It's been appraised at dealerships with offers anywhere from $10.5k-$11.5k, given excellent ratings each time. I've posted it on craigslist with no bites yet. Avenger payoff is $13,770.18, costing $384/mo (192 bi weekly). Great car, but Drivetime deals through income instead of credit so the interest rate is atrocious. It has about $8k negative equity. Camaro payoff is like $17.9k, costing $330/mo. It's in excellent condition also and has like $8k negative equity....I know. I've been saving aggressively and come towards the end of July, was thinking of selling the Charger to Carmax if it doesn't sell privately. I don't know what they'll offer, but I'll be able to eat about $5k towards that payoff depending on their appraisal. As for the Camaro and Avenger, I don't know what to do. I was considering a personal loan of about $10-15k, but I've no idea how to disperse it between the two, or if I'll even get approved (credit karma says I have good approval odds through Avant or One Main; with payments of $212/mo but ridiculous APR of like 29 or some poo poo). I feel Carmax would take the Camaro also if I ate enough of it. I need help, guys. This poo poo stresses me out to no end and I'm beyond frustrated and have no one else to turn to but the internet lol. TL;DR: I trust too much, made 23yo decisions and got shafted with 3 auto loans. Feel the walls closing in financially. ------------------------ tl;dr Guy buys car (financed), decides it's bad for winter so buys a second car (financed), lends second car to crack addict sister so buys a third car (financed), now has 3 cars and car payments and is drowning. BWM? Somebody fucked around with this message at 14:48 on Jun 30, 2017 |
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Jun 30, 2017 13:39
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Also next thread title should be "I trust too much, made 23yo decisions."
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Jun 30, 2017 13:57
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He could bring them in to the dealer and roll all that debt into yet another car.
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Jun 30, 2017 15:14
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Man he hosed up but his life would suck regardless
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Jun 30, 2017 15:25
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If the dealership didn't direct him to make a claim on his comprehensive insurance the lender requires him to carry they are quite shady. Rat damage is almost certainly covered.
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Jun 30, 2017 15:39
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H110Hawk posted:If the dealership didn't direct him to make a claim on his comprehensive insurance the lender requires him to carry they are quite shady. Rat damage is almost certainly covered. I wonder what the odds are on 3-car Monty here actually carrying all the insurance he's required to carry. I'm going to go with "not great". He sounds like the kind of guy who the lender ends up slapping expensive lender policies on which are quite limited and in favor of said lender. Or they just haven't found out yet.
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Jun 30, 2017 15:58
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Ixian posted:3-car Monty MODS
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Jun 30, 2017 15:59
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bkerlee posted:
That car is cursed and is clearly out to destroy anyone and anything that gets in between it and the OP. He needs to destroy it before it goes after the last sibling.
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Jun 30, 2017 16:05
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Ixian posted:3-car Monty That's really quite excellent.
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Jun 30, 2017 16:15
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If you think the loving Dodge Avenger is a good car you deserve whatever happens to you. Motherfucker could have bought a $400 set of snow tires for the Charger and been done with it, what a fuckin retard.
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Jun 30, 2017 16:18
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Virtue posted:Finding an apartment in one day in NYC? Now I know this story is made up. It turns out that when your primary criteria for an apartment is "doesn't need a kitchen" and "is closer to NYC than an 8-hour commute" there are a lot of options 
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Jun 30, 2017 16:20
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poo poo, that reminds me that it's almost July and I'm still running with snow tires.
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Jun 30, 2017 16:20
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KYOON GRIFFEY JR posted:If you think the loving Dodge Avenger is a good car you deserve whatever happens to you. The commercial for it was so good though. I got to drive a rental once and it was pretty fabulous pretending to be Batman for a week. 
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Jun 30, 2017 16:22
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Ixian posted:I wonder what the odds are on 3-car Monty here actually carrying all the insurance he's required to carry. You are a bad person. His lender is billing him for it if he hasn't provided proof of coverage. (And I just now read your second sentence.) It might be awful and carry a $1,000 comp deductible but it's there, and I bet there is money to be had even if it's onto the finance charges.
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Jun 30, 2017 17:08
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GamingHyena posted:Edit: Figure at least 30 minutes of eating/showering, you're getting a max of 5.5 hours of sleep a night. Could you imagine trying to do a 4.5 hour drive after 5.5 hours of sleep 5 days a week, and then again in the evening? It's a miracle they're still alive. https://www.reddit.com/r/personalfinance/comments/6kglnm/fiance_has_been_paying_600_a_month_for_critical/ quote:My future wife bought critical illness insurance shortly after a friend of hers died of cancer. It's been costing her 600 a month for the past year and I've recently gotten a job in another country. This may require her to not work (since she wont have a visa) and I don't really want to pay into this ridiculously expensive bill monthly when I support her. From what I hear, if she lives until 65 or something, she will receive 100 percent of the money back as long as she keeps paying. If she cancels now (which I'm thinking of doing), she will lose what she's paid into it. lol wtf
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Jun 30, 2017 17:44
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Barry posted:Figure at least 30 minutes of eating/showering, you're getting a max of 5.5 hours of sleep a night. Could you imagine trying to do a 4.5 hour drive after 5.5 hours of sleep 5 days a week, and then again in the evening? It's a miracle they're still alive. If they are travelling together perhaps one naps while the other drives, and they switch on the journey back.
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Jun 30, 2017 18:59
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