?

Log in

No account? Create an account
Just pulled the trigger on the first part of financing the house,… - The Veritable TechNinja [entries|archive|friends|userinfo]
The Veritable TechNinja

[ website | ~/public_html ]
[ userinfo | livejournal userinfo ]
[ archive | journal archive ]

[Apr. 3rd, 2007|01:08 pm]
The Veritable TechNinja
[status |nervousnervous]

Just pulled the trigger on the first part of financing the house, setting myself up for yet another year of fistfucking by the taxman. Seriously considering sending a bottle of Astroglide in with my 2006 taxes as it is. Still a jittery bundle of raw nerves, but it does feel a little better now that I've taken the first step. Tonight we go over the results of the inspection with our buyer's agent, the method of that meeting still up in the air.

In other news, going to COMA on Thursday, which promises to be a wonderland of stompiness, poutine, and bilingual tomfoolery. The Angrymobile is primed and ready for the trip, though having my warranty just run out is a little disheartening. Must get away from all this for a while.
linkReply

Comments:
[User Picture]From: c0nsumer
2007-04-03 05:46 pm (UTC)
Buying a house early in the year is a good thing, as you'll get to deduct loads of interest and property taxes. And it's pretty easy to file such things, too.
(Reply) (Thread)
[User Picture]From: arcsine
2007-04-03 06:20 pm (UTC)
Yup, taxes are going to be lessened by owning the house for the majority of the tax year, but I'm still going to end up owing big come next April.

Do you happen to know if it's better to pay your stock sale income taxes as an estimated tax payment to avoid fines, or to just hold on to the cash and make interest on it until you file your 2007 1040?
(Reply) (Parent) (Thread)
[User Picture]From: c0nsumer
2007-04-03 06:22 pm (UTC)
Hmm, that I don't know... I don't have stocks to sell that way. I'd imagine that it'd be best to do whatever ends up with you having the most (if interest outweighs fines, do that, etc). That I really don't know, though.
(Reply) (Parent) (Thread)
[User Picture]From: arcsine
2007-04-03 06:27 pm (UTC)
Ahh, an IRA man I take it?

Who knows what the fines are like, all I know is every time I call my accountant I end up with a bill that makes any kind of financial question a lot less worth asking. I guess I'll just lock it up in a high-interest money market until I file another hideously complex 1040. Last year's was 40 frickin' pages.
(Reply) (Parent) (Thread)
[User Picture]From: c0nsumer
2007-04-03 06:30 pm (UTC)
401(k) right now. And pumping money into my house to get it paid off. Doing that is like making a bit more than the 5.25% interest mortgage I have, regardless of how markets are doing.

That said, my place is 1/3 paid off, mortgage is less than $100k, and there's only about... 11 or 12 years left on it.
(Reply) (Parent) (Thread)
[User Picture]From: arcsine
2007-04-03 06:33 pm (UTC)
And even better, any cash over your monthly payment you put in also reduces the term of your loan. Nice!
(Reply) (Parent) (Thread)
[User Picture]From: c0nsumer
2007-04-03 06:34 pm (UTC)
My monthly payment is high enough that I usually use the cash for other things, but less than 50% of the monthly payment is interest at this point. That makes my tax returns a bit less than they could be, but it's actually better in the end. :)
(Reply) (Parent) (Thread)
[User Picture]From: euphoric_x
2007-04-03 05:56 pm (UTC)
COMA here we come.. Although I'm taking my car too now if you haven't heard already.
(Reply) (Thread)
[User Picture]From: arcsine
2007-04-03 06:18 pm (UTC)
Yeah, wasn't completely sure, thanks for the heads up. Hopefully there'll be cheaper parking than the hotel valet available. Also, were there any changes to the hotel reservations, or are you going to have an empty room for a night?
(Reply) (Parent) (Thread)
[User Picture]From: euphoric_x
2007-04-04 12:58 am (UTC)
Parking better be cheap.. We are leaving Sunday night after acts my girlfriend has to be back and in class MONDAY morning mandatory that she is or she loses out on a full grade letter.
(Reply) (Parent) (Thread)
[User Picture]From: arcsine
2007-04-04 12:14 pm (UTC)
I dunno, it's usually nasty around hotels. S'ok about leaving early, but are we still meeting up and driving together?
(Reply) (Parent) (Thread)
[User Picture]From: euphoric_x
2007-04-04 05:24 pm (UTC)
yeah we are going together hopefully we will have two way radio fun.
(Reply) (Parent) (Thread)