Why you still need cash and how the system tracks you

Thanks for the reminder; my rough guessimate is that I owe a few grand again. going to have to start coughing up quarterly payments since I'm already at zero.

 

You missed the point entirely. It wasn't about the money; it was about incompetent team members that wasn't capable of learning how to do their job! I shouldn't have to answer questions, when I'm off the clock; from the on-call guy, because he/she doesn't know what they're doing. That forced the rest of us to carry them. I shouldn't have to show someone the same procedures a half a dozen times, when their title is the same as mine. There are procedure manuals and tutorials for that. I'm not their mother or manager. If you don't get it the second time around, you better go ask someone else for help - otherwise we're going to have problems. What happened to being an ADULT and taking responsibility for your own actions? Admit your mistakes, ask for help, correct what you did wrong, so it doesn't happen again. It's a simple as that. Stop making up excuses every time they keep making the same mistakes over and over again. This isn't "ground hog day" the movie; though it seemed like it, dealing with those idiots.
The money thing was simply a tangible excuse for not following an illegal order that upper management understood and must legally abide by. Kinda like taxation without representation - another interesting discussion for another thread.

 

Mrs B prefers cash. If too much, a check.
If it’s too much hassle, she’ll break out the cc

 

Unfortunately; there's been a large uptick in check washing. Due to automation; when you look at the check image - it's been obviously washed. I believe banks will only give you 30-90 days to dispute it; otherwise your on your own. Not a big deal if you're rebalancing monthly and double checking it. I usually Zelle or use a CC if I need a paper trail for tax purposes.

 

Mrs B is absolutely on top of it, but we’re old (don’t tell her I said that) and she’s been doing it for years

 

A couple months ago I set up quarterly payments with the IRS. I used the ID.Me authenticator service to sign in. I would say within about 4 minutes of completing my profile and signing out I was receiving calls from Crestwood Loan Advisors from a variety of area codes. They are offering me consolidation loans. Another is from Liberty Tax Solutions, and various other tax filing mediation offices, wanting to help me with my tax problems. Some of them even say I've been "marked" by the IRS police for resolution options. I currently have 49 of these callers blocked and get 2 to 3 calls a day. What foolishness.

 

While still drawing paychecks, you can file an updated W-4 to withhold extra money, a fixed extra amount per pay period. This can help avoid needing to make quarterly payments for a while. See W-4 line 4(c). I did this for many years.

Though once you quit drawing paychecks, quarterly 1040-ES payments become essential.

 

I'm told that if you're receiving Social Security, you can set up withholding from that (in a small selection of fixed percentages).

Even if you aren't liable for tax on Social Security and so don't need the withholding for that, if one of those withholding percentages of your SS income works out close to what you'll owe on other income that's taxable, it could be a more convenient option than making quarterly payments.

 

Yup. My spouse is already drawing Social Security, and that was one of the choices she could make. But I didn't have her do it, instead having some taxes withheld from my IRA withdrawals, and some paid vie quarterly 1040-ES payments.

 

I've used ID.me since it came out, and I've had zero issues with unsolicited calls related to the product or service.
IIRC - you get to use ID.GOV as an alternative to ID.me.

You do understand that most of the identity theft is done by your service provider, or the end user right?

Apple uses ID.me to give me a 10% discount and (being Apple) they disclose what data they collect and how they use it.
ID.me also allows you to change your account settings, but I'm not familiar with that since I have not had any problems with their service.
I do fully understand that their product is free, so "I'm the Product" but I haven't had any problems myself.

Sample Size = 1
YMMV



Speaking of Apple?
I haven't actually written a cheque since before the iPhone came out.
Some people still use them and dig 'em - just not me.

 

I've got two relatives that had their checks pilfer and washed. I believed that they just threw those payment envelopes into their mailbox and lifted the little red flags. As I stated earlier, it wasn't even a good wash job - obviously seen on the grainy e-photo-copy; if you look. The smart check washers leave the amount alone; which doesn't throw up any red flags while your EOM reconciling. You don't find out until the following month, when they send you a missed payment notice. I've got most of my accounts setup to text me on a missed payment; but when it lands on a weekend - it can be delayed a day or two. No harm or foul, just give them a call on day three to verify that they processed it. Most of the time they just come right out and say that they're behind and give them a couple of extra days to check back. The dumb ones will change the amount, so it sticks out and forces you to look at the electronic check version. That assumes that you actually look and reconcile your bank accounts monthly.
Bottom-line, I drop-off larger checks either at the post office or a secure mailbox shop. We had a rash of community mailbox stands, entire tree, cut-off or unbolted from its base. Also postal delivery guys getting held-up at gun point and their skeleton keys stolen. Needless to say those larger checks get handed to my local postal worker, at the post office and I get a tracking #.
Re: ID.me or ID.gov; make sure you turn-off your blockers or add them as exceptions. The last time I was on ID.gov; it seemed to lockup on me - until I remembered to place them in my exceptions list and lower my browser security settings. Everything worked after that.

 

Your phone tracking you may soon become a non-issue

Phison CEO thinks NAND shortages could shut down entire consumer electronics companies in 2026 — claims at least one foundry demands three-year cash payment upfront | Tom's Hardware

No sub components are available for any “smart” consumer electronics including phones, 4K TVs and even most vehicles.

so if you need to buy a new one post 2026 it may be unavailable outside “enterprise consumers”

no soup for you

will be interesting to see how the Brit card digital and biometric trackingBS is enforced when you can’t buy a new technology cell phone required to access your job, healthcare and retirement.

 

meh.
If any of that happens, we're not going to need the banks.

 

It’s already happening, but currently is limited to desktop PCs and Certain Samsung phones being cancelled due to internal supply constraints

companies discovered they can make more money selling only to enterprise customers with 5% as many products sold to consumers but at very high prices.

A few dozen insiders have said the quiet part out loud, (agreeing with said article) all we can hope for is this nonsense implodes before that.

HP has been toying with selling 2gb equips PCs with Linux installed due to what is effectively rationing in the consumer space.

lots of resellers in the ram, hd and pc space are either going to have to start selling ex-enterprise PCs (used) with no gpu or go under.

historically .gov would step in these situations but they no longer exist or care so see where this leads.

good part will be your toaster will go back to being a coil with a spring, your fridge will go back to a pump with an analog thermostat, and your bed won’t have a usb jack, your car may need to loose its screen and di.

and if those devices don’t revert to simpler times you will just see very few produced at very high prices which is the plan.

unless we pull a ford and have fields full of inop cars without ECUs.

The Next Car Chip Shortage Is Coming. Blame AI

 

it's good to have an emergency fund, but let's not go overboard. cash in 2020 is worth a lot less now.
meanwhile, the dow as an example went from 30k pre crash to 50k now.
the s&p went from $3,400. to $6,900. the nasdaq went from $9,700. to $22,800. and the nyse went from $14,200. to $23,400.

 

And the Dow is underperforming gold at the moment.

during currency collapse there is no permenent safe haven.

 

....which means that there's no permanent safe haven BEFORE the collapse....OTHERWISE people wouldn't go through the time, effort, and ecologic damage to extract this metal only to press it into useless billets just to hide them in a locked container.

 

LOL... I have not seen, had, or handled real cash for years. Yeah, I have cash in HYS and Chk accounts. I get paid CASH from my work every 2 weeks, I pay CASH to mortgage, credit card, and even for a bag of coffee... But they are all electronically transacted. I don't carry cash in my wallet, I have not visited bank for years. It works fined for me.