Listen, depending on your lifestyle you might be able to justify this. Got nowhere in particular to be after work? Is this job a step up in your long term career goals? Pop in a podcast and commute. If you're a busy person though, probably not worth it based on the info provided.

Yeah, my estimate is assuming that but I was trying to be conservative. I have it around - 20k wages, 12k from RSUs, 7k that is netted up to cover tax comes out to around 40k.

I had also assumed the same thing. Mine was taxed at a rate of pretty much 49%. I might get it back at tax time, might not. Something to do with supplemental wages or what not. If you end up with more than 50%, consider it a bonus.

But do the math assuming you'll end up with half.

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Why would my severence of 40k be taxes at 50%? This is higher than a bonus would be of that amount.

Everything I read is this is simply taxable at the rate my paycheck would have been

sold a 2010 CR-V in 2020 at around 85000 miles and got rid of it right before the big expenses hit

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you have to do your research, check autotrader for selling prices around you

Working on site with anything more than a 15min commute almost never makes sense. Remote is the way!!

Many people will commute multiple Hours one way to work. Look at California. Areas outside NYC.

FYI if your gross severance is $40K, you should expect to get $20K after taxes.

Brexit? /j

Go with ufb direct. They're at 5.02%

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That's true! lol I ended up calling Kia finance b/c I was so nervous. It seems easy enough to transfer payments. Hopefully.

It's not the WORST deal but the part you are missing is that while it's equal to your current payments, you're also extending your loan to 5 years compared to whatever it is now. Make sure you consider that extra money when thinking about it.

This is what's also pushing on me: My current CR-V is a 2015 model, and while Honda's are typically pretty good, it's more likely that I'll have more maintenance expenses hitting sooner than later. I take good care of my car, but there's an appeal to having everything you said: newer vehicle, no upkeep costs, and the lower rate

No proof.

AFAIK, most if not all states subtract Traditional IRA contributions from the income they consider taxable. How that gets done varies by state. On my own state return (Colorado), I simply copy over the "taxable income" number from my federal return, and since that is after subtracting IRA contributions then I get the same benefit on my state tax bill.

Best as I can tell, the NY tax return pulls over your federal "adjustments to income" (which is where IRA contributions get reported on your federal return) on its line 18 and makes that same subtraction to get your state-level adjusted gross income. I couldn't find anywhere a IRA contribution would get added back to make it taxable.

In a similar way, if you did not qualify to claim that deduction on your federal return, then you wouldn't get it deducted on your state return.

In its simplest form yes, you have it correct.

> which is roughly equal to the payments I am currently making.

Gahhh... I die a little inside when I read this. Yeah, it's equal to the payments you're currently making, but how many months of current payments remain vs. the sixty months on the newly issued loan?

If you're able to make the payments without problem, I like the deal. Newer vehicle, no upkeep costs, and a lower rate.

They are making these offers to everyone in their database in order to sell cars.

Sounds more like a pay day/short term loan than a mortgage. Either you're mistaken or got screwed and should have read the fine print.

Your utilization is sensitive because you’ve only got $700 in available credit.

In a few years, between limit increases, perhaps picking up a few more cards, you’ll have a much larger amount of credit available to you and your utilization will stay relatively low.

My monthly credit card bill is between $5k and $7k, but between the seven cards I have open, I’ve got about $80k of available credit. My utilization is much lower than yours, so my credit score is pretty stable.

I just called Kia Finance and hopefully this won't be long and drawn out. You're right: they just want their money. I need to send them a copy of the death certificate,, and a written request to continue payments. The rep told me that the turn around is usually around 2 weeks. So, hopefully, one less thing to worry about.