ramssuperbowl99 Posted January 27, 2020 Share Posted January 27, 2020 2 minutes ago, MWil23 said: So, those deductions would include TOTAL deductions, correct? *Charitable *Tuition *Mortgage ...yeah, I'm not close to that. Yep the sum of everything. Really hard to do IMO unless you have a huge mortgage. 1 Quote Link to comment Share on other sites More sharing options...
MWil23 Posted January 27, 2020 Share Posted January 27, 2020 4 minutes ago, ramssuperbowl99 said: Yep the sum of everything. Really hard to do IMO unless you have a huge mortgage. Well, my $97K mortgage for 4 months last year (we sold our house...bought it for $128K, sold it for $157K 5.5 years later) isn't exactly going to make up that difference. LOL Thanks! Quote Link to comment Share on other sites More sharing options...
theJ Posted January 27, 2020 Share Posted January 27, 2020 1 hour ago, MWil23 said: So, those deductions would include TOTAL deductions, correct? *Charitable *Tuition *Mortgage ...yeah, I'm not close to that. Most people don't itemize anymore. Unless you have some crazy medical bills or donate a crap ton of money or have a ridiculous mortgage (in which you fall under the filthy rich category), you won't even sniff that standard deduction. Before they changed the standard deduction, i used to itemize. Between mortgage payments and the amount i donate to my church, i easily passed it. Now i'm no where close either. Someday i'd like to be rich enough to donate gobs of money and have to itemize again. A good problem to have. Quote Link to comment Share on other sites More sharing options...
bigjohnson2009 Posted January 27, 2020 Share Posted January 27, 2020 19 minutes ago, theJ said: Most people don't itemize anymore. Unless you have some crazy medical bills or donate a crap ton of money or have a ridiculous mortgage (in which you fall under the filthy rich category), you won't even sniff that standard deduction. Before they changed the standard deduction, i used to itemize. Between mortgage payments and the amount i donate to my church, i easily passed it. Now i'm no where close either. Someday i'd like to be rich enough to donate gobs of money and have to itemize again. A good problem to have. Single filers with a mortgage itemize some, but correct that the standard deduction is now the norm especially for MFJ. Tuition is not an itemized deduction, it could qualify for a credit or a separate above the line deduction @MWil23 2 Quote Link to comment Share on other sites More sharing options...
MWil23 Posted January 27, 2020 Share Posted January 27, 2020 34 minutes ago, theJ said: Before they changed the standard deduction, i used to itemize. Between mortgage payments and the amount i donate to my church, i easily passed it. Now i'm no where close either. This is EXACTLY where I was until a couple of years ago. Between church (10%) and mortgage, it used to make sense. Now, it doesn't at all was my understanding, and I see now that I am correct. Quote Link to comment Share on other sites More sharing options...
MWil23 Posted January 27, 2020 Share Posted January 27, 2020 14 minutes ago, bigjohnson2009 said: Single filers with a mortgage itemize some, but correct that the standard deduction is now the norm especially for MFJ. Tuition is not an itemized deduction, it could qualify for a credit or a separate above the line deduction @MWil23 So, basically I could still count tuition/graduate student status on a standard deduction, correct? Quote Link to comment Share on other sites More sharing options...
bigjohnson2009 Posted January 27, 2020 Share Posted January 27, 2020 1 hour ago, MWil23 said: So, basically I could still count tuition/graduate student status on a standard deduction, correct? Yes if it's grad tuition then assuming you are below the income thresholds you can do tuition/fees deduction or lifetime learning credit. Both are separate from the standard deduction. 1 Quote Link to comment Share on other sites More sharing options...
Gmen Posted February 4, 2020 Share Posted February 4, 2020 On 12/27/2019 at 11:53 AM, Tk3 said: I'm so torn on Tesla. I kept waiting for the dip, and bought when it dipped under $200 in the spring. Now I fight with the urge to hold vs get out while I can. Tesla is tough. The brand is incredible. The product is incredible. The vision is incredible. The company and its management...…. not so much. I've long been of the opinion that Tesla is the gamechanger, but someone else will be the winner in the electric car market. I hope I'm wrong. The world is a better place with a massively successful TSLA I hope you didn’t sell 😂 Quote Link to comment Share on other sites More sharing options...
Tk3 Posted February 4, 2020 Share Posted February 4, 2020 1 hour ago, Gmen said: I hope you didn’t sell 😂 I did not sell!! Although if I’m being honest, my $200 cost basis was really only dipping my toes in. Just a handful of shares As jubilant as I am about those gains, I’m even more distraught that I bought so few and didn’t make them an even player in my portfolio At this point I expect I’ll hold for a long long time like I am with Apple (I dread the day I have to recognize taxes there) Quote Link to comment Share on other sites More sharing options...
The_Romen Posted February 17, 2020 Share Posted February 17, 2020 So where does a guy get started with stocks? Are any of those stock apps (Robinhood, Acorns) any good? Quote Link to comment Share on other sites More sharing options...
rickyt31 Posted February 22, 2020 Author Share Posted February 22, 2020 On 2/16/2020 at 7:41 PM, The_Romen said: So where does a guy get started with stocks? Are any of those stock apps (Robinhood, Acorns) any good? I have TD Ameritrade and Robinhood. I really like RH and the direction it's heading in. ____________ I just started options 2 weeks ago and seen an 80% increase. I purchased a few more calls, but I'm loading up on dividends and long term stocks. Quote Link to comment Share on other sites More sharing options...
MacReady Posted February 22, 2020 Share Posted February 22, 2020 (edited) On 2/16/2020 at 7:41 PM, The_Romen said: So where does a guy get started with stocks? Are any of those stock apps (Robinhood, Acorns) any good? My favorite is Stash. Especially if you're getting started. I would recommend Delicious Dividends (an option on Stash). Their selection of individual stocks is limited, but that's a good thing. There's also an option for Stock Back if you open a debit card account with them. Very small percentage of stock back, but stock back is stock back. It's also the simplest of them all to learn. Robinhood and Acorns and all of the other apps I opened, but did not like. I still have a few thousand invested over at Robinhood, but I really don't like the way Robinhood works. Would not recommend Stockpile. Stockpile is really cool in that it allows you to get gift cards of stock for people, but that's about the only thing they have going for them. Edited February 22, 2020 by Outpost31 1 Quote Link to comment Share on other sites More sharing options...
The_Romen Posted February 22, 2020 Share Posted February 22, 2020 2 hours ago, Outpost31 said: My favorite is Stash. Especially if you're getting started. I would recommend Delicious Dividends (an option on Stash). Their selection of individual stocks is limited, but that's a good thing. There's also an option for Stock Back if you open a debit card account with them. Very small percentage of stock back, but stock back is stock back. It's also the simplest of them all to learn. Robinhood and Acorns and all of the other apps I opened, but did not like. I still have a few thousand invested over at Robinhood, but I really don't like the way Robinhood works. Would not recommend Stockpile. Stockpile is really cool in that it allows you to get gift cards of stock for people, but that's about the only thing they have going for them. Cool. Thanks guys. Also, 401k. That's another thing I should be investing, I assume? I'm trying to get started on this life thing and it's a lot 😅 Quote Link to comment Share on other sites More sharing options...
theJ Posted February 24, 2020 Share Posted February 24, 2020 On 2/22/2020 at 3:34 PM, The_Romen said: Cool. Thanks guys. Also, 401k. That's another thing I should be investing, I assume? I'm trying to get started on this life thing and it's a lot 😅 You should be fully funding your 401k before you start messing around in individual stocks. The other way around is reckless, imo. 1 Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted February 27, 2020 Share Posted February 27, 2020 (edited) On 2/22/2020 at 2:34 PM, The_Romen said: Cool. Thanks guys. Also, 401k. That's another thing I should be investing, I assume? I'm trying to get started on this life thing and it's a lot 😅 If you need help getting started with personal finance type advice, I'd actually suggest the personal finance reddit flowchart and guide. https://www.reddit.com/r/personalfinance/wiki/commontopics#wiki_the_flowchart It's not all the info, but it's got the terms you can google and learn more about. Edited February 27, 2020 by ramssuperbowl99 2 Quote Link to comment Share on other sites More sharing options...
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