foo1bar’s Activity

Thu Jul 2

NL

Boards Post

foo1bar replied to the Buying or Selling a Home board. 9:13 AM

Re: Selling with Owner Financing - pros & cons

It doesn't even have to be a "standard mortgage" - as long as it isn't your problem. :)

Fri Jun 19

NL

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foo1bar replied to the Building / Maintaining a Home board. 5:11 PM

Re: Electric Chain Saws

http://www.nooutage.com/vdrop.htm

can help you calculate the voltage drop.

I would guess 100' extension cord is likely to be fine on most electric chainsaws.
There's a number of [more]

Tue Jun 16

NL

Boards Post

foo1bar replied to the Tax Strategies board. 6:03 PM

Re: Gift Tax Question

I think this is the relevant law:

"Where a donor transfers during the calendar year by gift an interest in property to a donee who at the time of the gift is the donor’s spouse, there shall be allowed as a deduction in computing taxable [more]

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foo1bar replied to the Tax Strategies board. 3:07 PM

Re: Large parent loan tax implications

I doubt charging no interest would be illegal, but it might not be considered a loan if the interest rate were too low, but something else (a gift?).

A 0% interest rate loan would still be a loan - the fact that it's being paid back [more]

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foo1bar replied to the Tax Strategies board. 12:56 PM

Re: Large parent loan tax implications

One more bit of advice - put it in writing.
A plain straightforward documentation of the loan keeps everyone on the same page. Try to minimize possible misunderstandings in the future - both between you and mom, and between you and your siblings [more]

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foo1bar replied to the Tax Strategies board. 12:53 PM

Re: Large parent loan tax implications

The main question regarding all this is what, if anything, will either/both of us need to report on our tax returns next year?

Well, for her there is interest income on that loan - that's income for her.

For you I don't think [more]

Mon Jun 15

NL

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foo1bar replied to the Tax Strategies board. 1:39 PM

Re: Gift Tax Question

But what if a gift is given early in the year, then the couple involved get married later in the year?
My answer is "No, Mr. IRS man, I didn't give my fiancee $30k. I loaned it to her at 0%. I suppose the interest I should have [more]

Thu Jun 11

NL

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foo1bar replied to the Tax Strategies board. 9:46 PM

Re: Utterly last question about this

I thought it was the day of transfer... For me that was 2-3 days after the donation.

Fri May 29

NL

Boards Post

foo1bar replied to the Paying For College board. 3:17 AM

Re: Borrowing for college...

The thing is that in my opinion, the US government cannot afford to raise interest rates on its bonds at all, but of course the government could certainly raise the interest rates on student loans.
I wouldn't be too worried about [more]

NL

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foo1bar replied to the Building / Maintaining a Home board. 2:24 AM

Re: Tear out fiberglass shower insert?

No need to repaint. Hopefully.
I can't see that you wont' have to at least do touchups.

I can't tape or mud drywall, so my idea is to have the demolition go to the edge of the existing tile.
So leave the existing tile, [more]

Thu May 28

NL

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foo1bar replied to the Building / Maintaining a Home board. 12:14 PM

Re: Clogged downspouts

re-install it using sheet metal screws.

I don't know if I'd do screws.
Maybe I'd use them on the vertical portion of the upper elbow.
My concern would be those screws giving something more for stuff to catch on. So if I did [more]

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foo1bar replied to the Building / Maintaining a Home board. 3:40 AM

Re: Tear out fiberglass shower insert?

I would think $10k would be upper end.

It's going to matter a LOT on where you live.
If a tile guy in your area is getting ~$1k/day it's going to cost you significantly more than if he's ~$500/day.

I'd guesstimate at $3K for [more]

Wed May 27

NL

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foo1bar replied to the Building / Maintaining a Home board. 5:38 PM

Re: Clogged downspouts

I'd remove the lower 2 90's - seems most likely that's where the problem is. My bet is that last 90 - because it has less momentum since it has been going horizontal for 1'

Would a under-ground drain work for you?
ex. send it 5' north [more]

Mon May 25

NL

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foo1bar replied to the Building / Maintaining a Home board. 7:11 PM

Re: Clogged downspouts

A less stiff hose with a small nozzle?
Go from the bottom up as well top down?

shop vac at one end and leaf blower at the other?

Worst case, buy a small pop-rivet gun, a few rivets, and drill out the rivets, then replace the [more]

Fri May 22

NL

Boards Post

foo1bar replied to the Tax Strategies board. 2:56 PM

Re: Lots of ST gains. what to do to avoid taxes?

Is there something I am supposed to be doing to reduce that?
Make a loan to me, I'll default on it, and you can take it as a loss.

:D

If it were long term cap gains (>12months+1day), I'd say donate the appreciated [more]

Thu May 14

NL

Boards Post

foo1bar replied to the Building / Maintaining a Home board. 11:55 AM

Re: Painted popcorn ceiling

I've read somewhere a recommendation to put food coloring into the water that you spray on the ceiling with a pump sprayer.
Makes it a lot easier to see where you've sprayed (and how heavily)

Sun May 10

NL

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foo1bar replied to the Building / Maintaining a Home board. 1:06 PM

Re: Toilet shims

The toilet was not leaking when it was rocking. It merely rocked.
IMO you really don't know that.

Wax rings don't have any re-bound. If you squish them too much you wind up with a gap.

So it could be you have a very [more]

Fri May 1

NL

Boards Post

foo1bar replied to the Buying or Selling a Home board. 5:04 PM

Re: Difference between mortgage & home equity lo

I thought technically your home equity loan is a second mortgage. In the event of default, the first mortgage usually gets priority.

Usually people get a home equity loan or HELOC (home equity line of credit) as a 2nd [more]

Thu Apr 30

NL

Boards Post

foo1bar replied to the Building / Maintaining a Home board. 2:41 PM

Re: How do it know?

but how does it know what the battery level is, so it doesn't overcharge it? Where is it being monitored so it knows the battery is low, if it's been sitting all winter?

All the alternator has to do is provide a constant ~14.5V to [more]

Sun Apr 26

NL

Boards Post

foo1bar replied to the Building / Maintaining a Home board. 12:08 PM

Re: Well

You can have valves underground.

Usually in a more suburban area they'd be a "curb stop"

[more]

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