cost of college

Patrick

aka Fidodie
Staff member
haha, you're also older than I thought, for some reason I was under the impression you were 30ish
No kidding.

Not surprised at people that get into ivy. Their ability to get out is the amazing part.

Having RPI on my resume guy me an interview at Bell labs. My solid b- avg was ignored.
 

qclabrat

Well-Known Member
No kidding.

Not surprised at people that get into ivy. Their ability to get out is the amazing part.

Having RPI on my resume guy me an interview at Bell labs. My solid b- avg was ignored.
Murray Hill? I did two internships there as a kid, as did MrsQ. I was actually smart at some point, unfortunately my IQ peaked in 8th grade.
 

rlb

Well-Known Member
Nope, closing in on 40ish.



I don't think so, but I'm not really a names kind of guy. I was also in an altered state of mind for most of my time there.
Haha I assumed so, which is why I asked. There was always some good stuff going around the few times I visited.
 

Patrick

aka Fidodie
Staff member
Murray Hill? I did two internships there as a kid, as did MrsQ. I was actually smart at some point, unfortunately my IQ peaked in 8th grade.
Yup. Murray Hill. I was offered a job but stayed as an independent. At some point I was listed as a visiting sme. 20+ year run!

I killed all my brain cells
 

qclabrat

Well-Known Member
Yup. Murray Hill. I was offered a job but stayed as an independent. At some point I was listed as a visiting sme. 20+ year run!

I killed all my brain cells
It was an incredible think tank, ashame there are so few facilities like that. Guess Google is close. MrsQ's uncle was on the team which invented the transistor there.
 

shrpshtr325

Infinite Source of Sarcasm
Team MTBNJ Halter's
Wow full ride at NJIT, you must be super intelligent and/or part American Indian...jk
lol, w/e you say, not sure how the two would relate in reality.

I was just sharing the rolling admission process that they use, and that was also assuming that i commuted to school (which is what i would have had to do at NJIT, no way in hell i was living in newark)
 

THATmanMANNY

Well-Known Member
Probably discussed in here somewhere? but can anyone educate me on 529 plans?

I live in NJ and work in NYC. Since I am a NJ resident it doesn't matter what plan I pick. I read NY is a pretty good plan but it doesn't really provide any tax breaks since when you do your NJ state taxes it just cancels the state benefit since for NJ there is not state benefit for 529. Another reason NJ sucks balls but WTF are we still here?

I contribute to Vanguard and they have the NV 529 plan and I also read that is a good plan. So should I just make my life easy and go with Vanguard? Enlighten me please.
 

Bike N Gear

Shop: Bike N Gear
Shop Keep
Probably discussed in here somewhere? but can anyone educate me on 529 plans?

I live in NJ and work in NYC. Since I am a NJ resident it doesn't matter what plan I pick. I read NY is a pretty good plan but it doesn't really provide any tax breaks since when you do your NJ state taxes it just cancels the state benefit since for NJ there is not state benefit for 529. Another reason NJ sucks balls but WTF are we still here?

I contribute to Vanguard and they have the NV 529 plan and I also read that is a good plan. So should I just make my life easy and go with Vanguard? Enlighten me please.
My parents had set one up for my son with Vanguard when he was born, so they got the deductions (in NY). After 18 years of monthly contributions we had enough for his freshman year with a few dollars left over.
 

pygmypony

Well-Known Member
Probably discussed in here somewhere? but can anyone educate me on 529 plans?

I live in NJ and work in NYC. Since I am a NJ resident it doesn't matter what plan I pick. I read NY is a pretty good plan but it doesn't really provide any tax breaks since when you do your NJ state taxes it just cancels the state benefit since for NJ there is not state benefit for 529. Another reason NJ sucks balls but WTF are we still here?

I contribute to Vanguard and they have the NV 529 plan and I also read that is a good plan. So should I just make my life easy and go with Vanguard? Enlighten me please.

you should check with your personal tax experts but i believe if you work in NY and live in NJ (as do I) if you contribute to the NY 529 you CAN take that as a deduction on your NY income tax return

at least that’s what i did for the last 18 years or so. now i have 2 of 3 kids in college (the 3rd is a HS junior) so the savings are just being depleted now.
 

THATmanMANNY

Well-Known Member
https://www.bogleheads.org/forum/viewtopic.php?t=238194

last post here
"Be mindful of this: as a resident of NJ but working in NY, your NYS 529 deduction will be nullified on NJ taxes. Additionally, when you transfer NY 529 to a different state, all previous NYS deductions will be recaptured which is akin to double taxation. You deductions were already nullified by NJ taxes and now you will have to pay back to NY. Point is you should still use NY 529 plan because of good options but do not claim the 10k deduction."
 

pygmypony

Well-Known Member
https://www.bogleheads.org/forum/viewtopic.php?t=238194

last post here
"Be mindful of this: as a resident of NJ but working in NY, your NYS 529 deduction will be nullified on NJ taxes. Additionally, when you transfer NY 529 to a different state, all previous NYS deductions will be recaptured which is akin to double taxation. You deductions were already nullified by NJ taxes and now you will have to pay back to NY. Point is you should still use NY 529 plan because of good options but do not claim the 10k deduction."
ah, i see that now. when a non-resident files their NY State tax return, you do "deduct" the 529 contribution from the Fed Column. However, you don't deduct it from NY column, so the tax deduction gets "allocated back" in the calc that takes your income percentage (NYS / Fed). so, the, after all of these years, i thought i was getting a nice little tax savings, when in reality i got nuttin! oh well - it's almost all gone now anyway!
 
Probably discussed in here somewhere? but can anyone educate me on 529 plans?

I live in NJ and work in NYC. Since I am a NJ resident it doesn't matter what plan I pick. I read NY is a pretty good plan but it doesn't really provide any tax breaks since when you do your NJ state taxes it just cancels the state benefit since for NJ there is not state benefit for 529. Another reason NJ sucks balls but WTF are we still here?

I contribute to Vanguard and they have the NV 529 plan and I also read that is a good plan. So should I just make my life easy and go with Vanguard? Enlighten me please.
ah, i see that now. when a non-resident files their NY State tax return, you do "deduct" the 529 contribution from the Fed Column. However, you don't deduct it from NY column, so the tax deduction gets "allocated back" in the calc that takes your income percentage (NYS / Fed). so, the, after all of these years, i thought i was getting a nice little tax savings, when in reality i got nuttin! oh well - it's almost all gone now anyway!
If their are no tax consequences and you are NJ resident compare the American Funds Virginia College Savings Plan
 

Patrick

aka Fidodie
Staff member
https://www.bogleheads.org/forum/viewtopic.php?t=238194

last post here
"Be mindful of this: as a resident of NJ but working in NY, your NYS 529 deduction will be nullified on NJ taxes. Additionally, when you transfer NY 529 to a different state, all previous NYS deductions will be recaptured which is akin to double taxation. You deductions were already nullified by NJ taxes and now you will have to pay back to NY. Point is you should still use NY 529 plan because of good options but do not claim the 10k deduction."
The deduction is probably not worth the hassle. I've been putting into ny when my wife worked in NYC and the accountant said the same thing. Tax wash and If you don't take the taxes, it moves states freely.

Nydirect also has more internal fees than vanguard.
I always wondered if hiding the money in the house (meaning equity, not under the floor) would be an advantage? Less money on hand, just use home equity.
 

qclabrat

Well-Known Member
Morris Tanenbaum is a client of mine. He was pretty big at Bell Labs
He's legendary, I wouldn't be surprised if he worked in Morris' team, I'd asked but he died a few years back.
I did two summer internships there as a HS student. It's an amazing campus
 

Bike N Gear

Shop: Bike N Gear
Shop Keep
The deduction is probably not worth the hassle. I've been putting into ny when my wife worked in NYC and the accountant said the same thing. Tax wash and If you don't take the taxes, it moves states freely.

Nydirect also has more internal fees than vanguard.
I always wondered if hiding the money in the house (meaning equity, not under the floor) would be an advantage? Less money on hand, just use home equity.
But our Vanguard fund returned over 10% for 18 years. And that's including the massive drop in value over the past few months. My house hasn't gone up that much.