CF Financial

[MDS]

anyone here know taxes?

i usually get a decent sized refund, but also file a 1099 MISC for freelance sports writing. so this year, according to tax slayer and turbo tax, i owe the gubment roughly $230 and get NO refund.

last year, i had the MISC form and a half years w2 from texas. this year, i have 10 months worth of a w2 from my job in PA. texas has no state tax, of course, but is that the difference in me not getting a refund of any kind?

[Munson]

Usually you can claim state/local income taxes or state/local sales tax on your federal return, so if anything PA's state tax should help you out on the federal return. If you were claiming Texas' sales tax on your federal returns though, that could have possibly been getting you a bigger return than claiming PA's income tax.

Probably just as simple as you either 1. Making more money this year or 2. Your employer not taking enough federal taxes out of your check. Or a tax credit running out ala you paid off all student loans and no longer get the credit for the interest paid.

Might be worth talking to a live tax prep professional though.

[Diomedes]

I owe three grand this year.  Ditch digging makes you rich, apparently.

[PhillyPhreak54]

http://money.cnn.com/2016/09/08/investing/wells-fargo-created-phony-accounts-bank-fees/index.html?sr=twCNN090816wells-fargo-created-phony-accounts-bank-fees0741PMVODtopLink&linkId=28533545

Daaaamn!

Them and BOA are the worst.

[smeags]

direct competitor of ours. commercial leasing wise.

the ripple effect from this is far from over. far.

[Diomedes]

I didn't read all the article, maybe they covered this, but how much you wanna bet that brown people were victimized by these shysters far more than whites.

[PhillyPhreak54]

They didn't do a breakdown but my thought was more wealthy people/businesses would be targeted because they may not notice small sums missing.

Sean...I checked their stock price and it was only down like $0.13 so I am interested to see what happens tomorrow. And the CEO should be shtein canned and those 5300 people arrested.

[General_Failure]

And the CEO should be shtein canned and those 5300 people arrested.

I think you forgot how we treat bankers in the US.

[PhillyPhreak54]

Good point.

A raise and praise from Trump tomorrow

[Butchers Bill]

I didn't read all the article, maybe they covered this, but how much you wanna bet that brown people were victimized by these shysters far more than whites.

Doubtful - the big banks don't tend to have branches in minority areas.

When I was at BofA this was a common practice.  As I have been reading the allegations and fall out, all I could think was that if they replaced Wells Fargo with BofA in the stories I would not have been surprised at all.

Keep in mind one thing - most of the 5300 people fired were people trying to make a living.  If they didn't hit targets, they likely didn't get paid much that month - literally 50% or more of their comp was based on hitting these goals.  In addition, while the media is focusing on cases where customers got hit with fees (all refunded from what have read) most of these fake accounts were created for themselves or friends/family trying to help them out.

In the final analysis, this is the culture created by these enormous banks.  With interest rates near zero, the only way for them to make money anymore in the retail channel are these "add on" services.  Wells isn't the only one - I guarantee you that.  The sales targets at BofA were ridiculous too, and we often had to cannibalize old Merrill accounts to meet quotas.  Literally shifting money around internally to meet goals.

Before any of you get your panties in a bunch...I am not defending this practice.  Just saying the underlings were trying to survive.  The higher ups have more to do with this than will ever be told.

[smeags]

my kid got hit with this shtein. pretty sure he already got his funds back.

bill is spot on - the "add-on services/fee income" big here too, even on the commercial side.

[PhillyPhreak54]

I didn't read all the article, maybe they covered this, but how much you wanna bet that brown people were victimized by these shysters far more than whites.

Doubtful - the big banks don't tend to have branches in minority areas.

When I was at BofA this was a common practice.  As I have been reading the allegations and fall out, all I could think was that if they replaced Wells Fargo with BofA in the stories I would not have been surprised at all.

Keep in mind one thing - most of the 5300 people fired were people trying to make a living.  If they didn't hit targets, they likely didn't get paid much that month - literally 50% or more of their comp was based on hitting these goals.  In addition, while the media is focusing on cases where customers got hit with fees (all refunded from what have read) most of these fake accounts were created for themselves or friends/family trying to help them out.

In the final analysis, this is the culture created by these enormous banks.  With interest rates near zero, the only way for them to make money anymore in the retail channel are these "add on" services.  Wells isn't the only one - I guarantee you that.  The sales targets at BofA were ridiculous too, and we often had to cannibalize old Merrill accounts to meet quotas.  Literally shifting money around internally to meet goals.

Before any of you get your panties in a bunch...I am not defending this practice.  Just saying the underlings were trying to survive.  The higher ups have more to do with this than will ever be told.

That isn't shocking at all. I remember BOA got smoked for processing debits to where they would eat up available funds and then smack people with the fees associated with it. They're all pretty much scumbags.

The govt should be tearing them apart. They feel invincible.

I use USAA and Chase. USAA is pretty damn good. Wells and BOA can farg off.

On a side note...my company decided to switch us off of Fidelity's 401k to MassMutual. Of course to save money on fees. But I hate MassMutual. My first interaction with them was because they didn't carryover my contribution percentage. Fidelity's website was so much better. And when I called them I'd have a person on the phone in 5 minutes. Mass? lol...on hold a half an hour.

[smeags]

people rob banks - they go to jail.

banks rob people - bonuses !!

[Geowhizzer]

Fortunately I'm in an FCU.  They've been good to me.

[Geowhizzer]

people rob banks - they go to jail.

banks rob people - bonuses !!