Cars, Taxes and House

[ambesima]

1. Im trying to buy a 2-3 yr old Toyota Rav4 or nissan Murano. Any help with best places to start if I want to buy online? Any other tips welcomed.

2. Im W2 plus 1099. What would be the best tax software for me.

3. Looking to buy first house in the 360K range. 1.2 times salary. Could you guys tell me the mistakes you made so I can learn from and what you wish you had done. Things to look out for. We are in Texas.

Thank you very much. I have come to rely on this forum for a lot of things.

[CordMcNally]

1. https://www.reddit.com/r/personalfinance/comments/3898f1/step_by_step_guide_on_how_to_buy_a_car_my_friend/

2. Will you have a complicated 1099 (i.e. a bunch of deductions, etc.)? If so, you may want to talk with a CPA. If you feel comfortable doing it yourself. Any tax software will do what you need to do. I've used H&R Block for the last several years and have been happy.

3. Always get a good inspection done with someone that you've chosen (not the realtor). Make sure you are there and walk around with them so they can point things out to you and you can ask them questions. Always have a decent emergency fund to cover any deductibles and to pay for big repairs that will undoubtedly pop up. You're doing yourself a favor by buying an affordable house...kudos to you!

[jz]

#3)..Property taxes are high ( ave. 2% value ) in TX.  Your cost-of-ownership ( interest, repair and maintenance, property taxes, property insurance) could run to 9% annually, or $32,000.  Overall, will be affordable.

[DMFA]

Cars.com, autotrader.com, CarMax, Carvana.

HRBlock and Turbo Tax are both adequate for *most* typical 1099 physicians. Both personal and business deductions and credits are fairly simple to take.

Good inspection is key, and putting enough down to get a good interest rate and avoid mortgage insurance. Biggest thing in Texas is usually property tax since we have no income tax. Don't overpay; ensure the comparable houses have similar prices.

[Matas]

Also look at Vroom.com for the cars. Also, you should see what's available on line at your local Toyota dealers for the Rav4.

[ambesima]

Thanks guys. Very helpful.