H & R Block instant loan

[aps45819]

Like Aps said, she is entitled (legally and with no worry about making false claims) to one deduction (herself).

You can legally claim as many dependents as you want on your witholding form. I have 4 fed and 3 state now.
It's the tax return where you have to be accurate.

 

[dems4me]

Thanks for all the input on the deductions questions I think I'll keep it at zero.

 

[Wenchy]

You can legally claim as many dependents as you want on your witholding form. I have 4 fed and 3 state now.
It's the tax return where you have to be accurate.

Yes, you can. If the deductions are not there at filing time, there will be a penalty (interest) to pay, and that is not pretty.

Would you like to be Dem's financial advisor?

 

[DoWhat]

Thanks for all the input on the deductions questions I think I'll keep it at zero.

Now I gotta do the $hit.
Hell, I'm going to have a beer now.

 

[aps45819]

Thanks for all the input on the deductions questions I think I'll keep it at zero.

good idea, you shouldn't count yourself as a deduction because you don't support yourself and since the government doesn't get enough of your money you should let them borrow some more.
Since you're nice don't charge them any intrest for borrowing your money, it's not like they have millions to waste every day..

 

[aps45819]

Yes, you can. If the deductions are not there at filing time, there will be a penalty (interest) to pay, and that is not pretty.
Would you like to be Dem's financial advisor?

What you claim on your tax return and the number of dependents you list on you witholding (W-4) are 2 different things.
If you do it like I explained in post 23, you can adjust your witholding so your taxes are paid and you still get a small refund.


NO to the second part

 

[DoWhat]

good idea, you shouldn't count yourself as a deduction because you don't support yourself and since the government doesn't get enough of your money you should let them borrow some more.
Since you're nice don't charge them any intrest for borrowing your money, it's not like they have millions to waste every day..

She really loves you now.

 

[aps45819]

She really loves you now.

my turn for

 

[dems4me]

She really loves you now.

 

[Wenchy]

What you claim on your tax return and the number of dependents you list on you witholding (W-4) are 2 different things.
If you do it like I explained in post 23, you can adjust your witholding so your taxes are paid and you still get a small refund.

Durr...I know this.

Some people like larger refunds. Period.

Some people go to loan sharks. Period.

Obviously, the best way is to get as much money as you can in your paycheck and bank it/invest it. Many people can't do that. They count on that refund and as much headbanging as you want to do, it's not going to change the mindset. It's a way of "forced savings" with NO interest and a loss of opportunity. To them, it is a windfall.

NO to the second part

You know you want to.

 

[johnjrval424]

Increase your exemptions on your W-4 with your employer, see what the difference is, and then set up an automatic withdrawal ("sweep") with your bank (I like ING Direct) and have it deducted from your bank account.

You can't spend it if you don't have it. And ING pays awesome interest rates - better than any bank right now.

www.ingdirect.com


BTW, don't do the H&R Block loan - please! They got into a lot of trouble not too long ago about doing this and there was a class action lawsuit/settlement.

You will regret your decision when your anticipated "large refund" comes in and you have to pay it back with interest. Just my .02.

 

[aps45819]

You know you want to.

Somebody would wind up getting shot

 

[bcp]

Never hurts to try and also help rebuild your credit.

actually with credit it can hurt to try.
whenever your credit is run and declined for anything, your score will drop because of that activity, even though you did not do anything else wrong.

 

[RoseRed]

actually with credit it can hurt to try.
whenever your credit is run and declined for anything, your score will drop because of that activity, even though you did not do anything else wrong.

My bad. I thought that maybe a small 1k loan would be a good start to rebuild.

 

[Pete]

My bad. I thought that maybe a small 1k loan would be a good start to rebuild.

I can as long as you don't get turned down. It is best to take a copy of a recent CR you ran yourself (because that doesn't count against you) and let them give you a preliminary or before you apply. If they see it and say no, there is no sense in even trying.

 

[RoseRed]

I can as long as you don't get turned down. It is best to take a copy of a recent CR you ran yourself (because that doesn't count against you) and let them give you a preliminary or before you apply. If they see it and say no, there is no sense in even trying.

Thank you. I am glad I don't have that problem.

I just closed a CC acct. worth 36K that was supposed to have been closed 2.5 years ago. And it was in the ex's name.

 

[Pete]

Thank you. I am glad I don't have that problem.

I just closed a CC acct. worth 36K that was supposed to have been closed 2.5 years ago. And it was in the ex's name.

When I was getting my stuff in order to move and buy this house I pulled reports and had a ton of crap still open from years and years before. Unless you actually tell them to close some accounts they will stay open forever.

 

[FromTexas]

My bad. I thought that maybe a small 1k loan would be a good start to rebuild.

If someones credit is that bad, they can guarantee (i.e. make a deposit with a company equal to the cards value so it is guaranteed) a credit card and then work their way back up up that way. First thing they need to do is payoff all overdue and longstanding loans. Especially pay down revolving credit that is near its limit. Once you clear up that mess, you can focus on rebuilding. Trying to rebuild while the problem is still there is pointless. When they rebuild, they need to make healthy monthly payments on their guaranteed or other credit. Keep it at a low percentage of the total credit line.

 

[RoseRed]

If someones credit is that bad, they can guarantee (i.e. make a deposit with a company equal to the cards value so it is guaranteed) a credit card and then work their way back up up that way. First thing they need to do is payoff all overdue and longstanding loans. Especially pay down revolving credit that is near its limit. Once you clear up that mess, you can focus on rebuilding. Trying to rebuild while the problem is still there is pointless. When they rebuild, they need to make healthy monthly payments on their guaranteed or other credit. Keep it at a low percentage of the total credit line.

Thanks. Like I said, I am glad I don't have that problem.

 

[FromTexas]

Thanks. Like I said, I am glad I don't have that problem.

Yup.