question_id stringlengths 1 5 | question stringlengths 14 158 | pos_item_ids listlengths 1 23 | pos_item_contents listlengths 1 23 |
|---|---|---|---|
1101 | Why are residential investment properties owned by non-professional investors and not large corporations? | [
"411375",
"502514",
"388696",
"9243",
"216108"
] | [
"\"Because the returns are not good. One of the big drivers in Australia is \"\"negative gearing\"\": if your investment loses money you can offset losses against your tax on other income. Institutional investors and corporations are in the business of making money: not losing it. Housing market investors are betti... |
11011 | Should I pay more into company pension, or is there a better way to save? | [
"325113",
"536374"
] | [
"In the UK you have an allowance of £40,000 per annum for tax relief into a pension. This amount includes both your and your employer's contributions. If you earn more than £150,000 per annum this allowance starts to reduce and if you earn less than the allowance, your allowance is limited to what you earn. You can... |
11012 | Should I Pay Off my Student Loan Debts First or Invest in an Index Fund? | [
"257016",
"451457",
"235036"
] | [
"You are on the right track with your math, but be wary of your assumptions. If you can borrow money at x% (and can afford to make payments on the debt), and you can get a return of > x% from investing, then you would make more money by keeping the debt and investing your savings. Another way to think of it: by pay... |
11013 | $700 guaranteed to not be touched for 15 years+, should I put it anywhere other than a savings account? | [
"585269",
"538282",
"287764"
] | [
"\"(Since you used the dollar sign without any qualification, I assume you're in the United States and talking about US dollars.) You have a few options here. I won't make a specific recommendation, but will present some options and hopefully useful information. Here's the short story: To buy individual stocks, you... |
11017 | If Bernie Madoff had invested in Berkshire Hathaway, would the ponzi actually have succeeded? | [
"14997"
] | [
"I could be wrong, but I doubt that Bernie started out with any intention of defrauding anyone, really. I suspect it began the first time he hit a quarter when his returns were lower than everyone else's, or at least not as high as he'd promised his investors they'd be, so he fudged the numbers and lied to get pas... |
11019 | Forex vs day trading for beginner investor | [
"506078",
"555639",
"413015"
] | [
"Forex vs Day Trading: These can be one and the same, as most people who trade forex do it as day trading. Forex is the instrument you are trading and day trading is the time frame you are doing it in. If your meaning from your question was comparing trading forex vs stocks, then it depends on a number of things. F... |
1102 | Offered a job: Should I go as consultant / independent contractor, or employee? | [
"37725",
"584218",
"524788",
"392124"
] | [
"\"Your comment to James is telling and can help us lead you in the right direction: My work and lifestyle will be the same either way, as I said. This is all about how it goes \"\"on the books.\"\" [emphasis mine] As an independent consultant myself, when I hear something like \"\"the work will be the same ei... |
11020 | Is investing in an ETF generally your best option after establishing a Roth IRA? | [
"524612",
"188524",
"369251"
] | [
"ETFs are a type of investment, not a specific choice. In other words, there are good ETFs and bad. What you see is the general statement that ETFs are preferable to most mutual funds, if only for the fact that they are low cost. An index ETF such as SPY (which reflects the S&P 500 index) has a .09% annual expense,... |
11021 | What is the process through which a cash stock transaction clears? | [
"293389"
] | [
"\"This is the sad state of US stock markets and Regulation T. Yes, while options have cleared & settled for t+1 (trade +1 day) for years and now actually clear \"\"instantly\"\" on some exchanges, stocks still clear & settle in t+3. There really is no excuse for it. If you are in a margin account, regulations per... |
11024 | Can a self-employed person have a Health Savings Account? | [
"588399",
"42814"
] | [
"\"Whether you can establish an HSA has nothing to do with your employment status or your retirement plan. It has to do with the type of medical insurance you have. The insurance company should be able to tell you if your plan is \"\"HSA compatible\"\". To be HSA compatible, a plan must have a \"\"high deductible\... |
11025 | Not paying cash for a house | [
"107350",
"439420",
"269368"
] | [
"The common opinion is an oversimplification at best. The problem with buying a house using cash is that it may leave you cash-poor, forcing you to take out a home equity loan at some point... which may be at a higher rate than the mortgage would have been. On the other hand, knowing that you have no obligation to ... |
1103 | What happens when a non-U.S. citizen who's been making money from the U.S. moves to the U.S.? | [
"495827"
] | [
"\"Its not for US citizens - its for US residents. If the US considers you as a tax resident - you'll be treated the same as a US citizen, regardless of your immigration status. The question is very unclear, since it is not mentioned whether your US sourced income \"\"from the Internet\"\" is sales in the US, sales... |
11031 | Should we buy a house, or wait? | [
"108399",
"314163",
"115408"
] | [
"Some highly pessimistic things worth noting to go alongside all the stability and tax break upside that homes generally provide: Negative equity is no joke and basically the only thing that bankrupts the middle classes consistently en masse. The UK is at the end of a huge housing bull run where rents are extremely... |
11033 | Small investing for spending money? | [
"59468",
"359510",
"155493",
"4044"
] | [
"First thing to know about investing is that you make money by taking risks. That means the possibility of losing money as well as making it. There are low risk investments that pretty much always pay out but they don't earn much. Making $200 a month on $10,000 is about 26% per year. That's vastly more than you a... |
1104 | How do you declare an interest free loan? | [
"141331",
"553328"
] | [
"In principle, the US taxes both income and gifts. Simply thinking good thoughts is not necessarily sufficient to avoid filing or payment obligations. Giving somebody money with no repayment date, no interest, and no enforceable note looks an awful lot like either income or a gift. A loan normally has interest, mon... |
11040 | Where can I find a company's earnings history for free? | [
"151221",
"524050",
"168347"
] | [
"www.earnings.com is helpful thinkorswim's thinkDesktop platform has a lot of earnings information tied with flags on their charts they are free.",
"Regulators? SEC, in the US. Its public records for public companies.",
"I was going to comment above, but I must have 50 reputation to comment. This is a question ... |
11041 | Remit money to India from balance transfer of credit card | [
"156721",
"247199"
] | [
"Is this transaction legal Yes it is. Are there any tax implications in US? The interest is taxable in US. From what I understand, there are no tax implications in India. Yes this is right. The question you haven't asked is does this makes sense? So you are paying 3% upfront. Getting 8% at end of one year. You can... |
11042 | Do I need to own all the funds my target-date funds owns to mimic it? | [
"549188",
"562305",
"158075"
] | [
"\"If you read Joel Greenblatt's The Little Book That Beats the Market, he says: Owning two stocks eliminates 46% of the non market risk of owning just one stock. This risk is reduced by 72% with 4 stocks, by 81% with 8 stocks, by 93% with 16 stocks, by 96% with 32 stocks, and by 99% with 500 stocks. Conclusion... |
11043 | Extended family investment or pay debt and save | [
"166531",
"464405",
"472051"
] | [
"I would suggest, both as an investor and as someone who has some experience with a family-run trust (not my own), that this is probably not something you should get involved with, unless the money is money you're not worried about - money that otherwise would turn into trips to the movies or something like that. ... |
11044 | Couch Potato Portfolio for Europeans? | [
"526422"
] | [
"\"The question is asking for a European equivalent of the so-called \"\"Couch Potato\"\" portfolio. \"\"Couch Potato\"\" portfolio is defined by the two URLs provided in question as, Criteria for fund composition Fixed-income: Regardless of country or supra-national market, the fixed-income fund should have holdin... |
11045 | In what order should I save? | [
"161230"
] | [
"This is a bit of an open-ended answer as certain assumptions must be covered. Hope it helps though. My concern is that you have 1 year of university left - is there a chance that this money will be needed to fund this year of uni? And might it be needed for the period between uni and starting your first job? If th... |
11046 | What bonds do I keep and which do I cash, why is the interest so different | [
"590364"
] | [
"Bonds released at the same time have different interest rates because they have different levels of risks and liquidity associated. Risk will depend on the company / country / municipality that offers the bond: their financial position, and their resulting ability to make future payments & avoid default. Riskier ... |
11047 | Why would I want a diversified portfolio, versus throwing my investments into an index fund? | [
"144261",
"508540",
"568624"
] | [
"\"Index funds are well-known to give the best long-term investment. Not exactly. Indexes give the best long term performance when compared to actively managing investments directly in the underlying stocks. That is, if you compare an S&P500 index to trying to pick stocks that are part of it, you're more likely to ... |
11049 | When the market crashes, should I sell bonds and buy equities for the inevitable recovery? | [
"107751",
"22941",
"405212"
] | [
"When the market moves significantly, you should rebalance your investments to maintain the diversification ratios you have selected. That means if bonds go up and stocks go down, you sell bonds and buy stocks (to some degree), and vice versa. Sell high to buy low, and remember that over the long run most things re... |
1105 | Avoiding sin stock: does it make a difference? | [
"245654",
"42625"
] | [
"Yes, it does matter. You are right that lower demand for a stock will drive its price down. Lower stock prices can hurt the company. Take a look at Fixee's answer to this question: a declining share price will make it hard to secure credit, attract further investors, build partnerships, etc. Also, employees are of... |
11052 | Is there anything I can do to prepare myself for the tax consequences of selling investments to buy a house? | [
"468047",
"431268",
"321637"
] | [
"Don't let tax considerations be the main driver. That's generally a bad idea. You should keep tax in mind when making the decision, but don't let it be the main reason for an action. selling the higher priced shares (possibly at a loss even) - I think it's ok to do that, and it doesn't necessarily have to be FIF... |
11053 | How can I profit on the Chinese Real-Estate Bubble? | [
"265267",
"39041"
] | [
"\"Perhaps buying some internationally exchanged stock of China real-estate companies? It's never too late to enter a bubble or profit from a bubble after it bursts. As a native Chinese, my observations suggest that the bubble may exist in a few of the most populated cities of China such as Beijing, Shanghai and Sh... |
11056 | What is a trust? What are the different types of trusts? | [
"534290",
"449081",
"31182"
] | [
"Trusts are a way of holding assets with a specific goal in mind. At its simplest, a trust can be used to avoid probate, a sometimes lengthy process in which a will is made public along with the assets bequeathed. A trust allows for fast transfer and no public disclosure. Depending on the current estate tax laws (t... |
11057 | Basic index fund questions | [
"44617"
] | [
"\"There are no guarantees in the stock market. The index fund can send you a prospectus which shows what their results have been over the past decade or so, or you can find that info on line, but \"\"past results are not a guarantee of future performance\"\". Returns and risk generally trade off against each other... |
11058 | Is the Yale/Swenson Asset Allocation Too Conservative for a 20 Something? | [
"81304",
"248799",
"226944",
"31954"
] | [
"You can look the Vanguard funds up on their website and view a risk factor provided by Vanguard on a scale of 1 to 5. Short term bond funds tend to get their lowest risk factor, long term bond funds and blended investments go up to about 3, some stock mutual funds are 4 and some are 5. Note that in 2008 Swenson h... |
11059 | Clarification on 529 fund | [
"466084",
"547087"
] | [
"Yes, maybe. The 529 is pretty cool in that you can open an account for yourself, and change the beneficiary as you wish, or not. In theory, one can start a 529 for children or grandchildren yet unborn. Back to you - a 529 is not deductible on your federal return. It grows tax deferred, and tax free if used for a... |
1106 | Save money in company for next year | [
"415179"
] | [
"As was once famously said, Our new Constitution is now established, and has an appearance that promises permanency; but in this world nothing can be said to be certain, except death and taxes. — Benjamin Franklin, 1789 It's very likely that either the company or you personally is going to have to pay taxes on that... |
11062 | How do you save money on clothes and shoes for your family? | [
"378319",
"41829",
"265877",
"77312"
] | [
"\"I feel the same way too! With two kids, I feel like I am spending what it would cost to run a small country just on clothes, shoes, jackets, replacing everything as it is grown out of! A few things I do: I shop in affordable places and check out sales, and look for the cutest things I can find there in a reaso... |
11067 | Is it wise to switch investment strategy frequently? | [
"356623",
"277",
"296583"
] | [
"I understand you're trying to ask a narrow question, but you're basically asking whether you should time the market. You can find tons of books saying you shouldn't try it, and tons more confirming that you can. Both will have data and anecdotes to back them up. So I'll give you my own opinion. Market timing, e... |
11070 | Lump sum annuity distribution — do I owe estate tax? | [
"17633",
"156181",
"566383"
] | [
"There can be Federal estate tax as well as State estate tax due on an estate, but it is not of direct concern to you. Estate taxes are paid by the estate of the decedent, not by the beneficiaries, and so you do not owe any estate tax. As a matter of fact, most estates in the US do not pay Federal estate tax at al... |
11077 | How much house can a retired person afford | [
"65835",
"519534"
] | [
"\"Consider property taxes (school, municipal, county, etc.) summing to 10% of the property value. So each year, another .02N is removed. Assume the property value rises with inflation. Allow for a 5% after inflation return on a 70/30 stock bond mix for N. After inflation return. Let's assume a 20% rate. An... |
1108 | Canadian in California - filing taxes as a non-resident | [
"430728"
] | [
"\"What do you mean by \"\"Canadian income\"\"? Was it income paid to you as wages for the job you did in the US? Or rental/interest income in Canada? If the former - then it doesn't go to NEC, it goes to the main part of the return. If the latter - it doesn't appear on your NR return at all. Yes, it is to validate... |
11080 | Should I overpay to end a fixed-rate mortgage early? [duplicate] | [
"351044",
"111580"
] | [
"I would strongly encourage you to either find specifically where in your written contract the handling of early/over payments are defined and post it for us to help you, or that you go and visit a licensed real estate attorney. Even at a ridiculously high price of 850 pounds per hour for a top UK law firm (and I s... |
11089 | Using property to achieve financial independence | [
"129149",
"327737",
"542024"
] | [
"I wrote this in another thread but is also applicable here. In general people make some key mistakes with property: Not factoring in depreciation properly. Houses are perpetually falling down, and if you are renting them perpetually being trashed by the tenants as well - particularly in bad areas. Accurate depreci... |
1109 | Schedule C: where to deduct service fees on income? | [
"115584"
] | [
"\"Putting them on line 10 is best suited for your situation. According to Quickbooks: Commissions and Fees (Line 10) Commissions/fees paid to nonemployees to generate revenue (e.g. agent fees). It seems like this website you are using falls under the term \"\"nonemployees\"\".\""
] |
11090 | Incorporating real-world parameters into simulated(paper) trading | [
"588481",
"69696"
] | [
"\"I think you're on the wrong track. Getting more and more samples from the real world does not make your backtest more accurate, it just confirms that your strategy can withstand one particular sample path of a stochastic process. The reason why you find it simple to incorporate fees, commissions, taxes, etc. is... |
11092 | Is real (physical) money traded during online trading? | [
"374410",
"211428",
"214969",
"83638",
"478724",
"17906"
] | [
"\"With Forex trading - physical currency is not involved. You're playing with the live exchange rates, and it is not designed for purchasing/selling physical currency. Most Forex trading is based on leveraging, thus you're not only buying money that you're not going to physically receive - you're also paying with ... |
11096 | Pensions, annuities, and “retirement” | [
"132601",
"147730",
"522438",
"407726"
] | [
"\"There are broadly two kinds of pension: final salary / defined benefit, and money purchase. The text you quote above, where it talks about \"\"pension\"\" it is referring to a final salary / defined benefit scheme. In this type of scheme you earn a salary of £X during your working life, and you are then entitle... |
11097 | What does it mean to a life insurance policy holder to convert from a stock to mutual insurance company? | [
"131224"
] | [
"\"A stock insurance company is structured like a “normal” company. It has shareholders (that are the company's investors), who elect a board of directors, who select the senior executive(s), who manage the people who run the actual company. The directors (and thus the executives and employees) have a legal respons... |
11099 | Can capital loss in traditional IRA and Roth IRA be used to offset taxable income? | [
"424427",
"150878"
] | [
"Edited in response to JoeTaxpayer's comment and OP Tim's additional question. To add to and clarify a little what littleadv has said, and to answer OP Tim's next question: As far as the IRS is concerned, you have at most one Individual Retirement Account of each type (Traditional, Roth) though the money in each I... |
111 | Dual Citizen British/US and online business taxes | [
"46092"
] | [
"I see no reason why a US ID would be mandatory anywhere in the UK. I'm sure they have their own tax IDs in the UK. However, if the gallery requires US persons to submit US W-9 - then yes, you're covered under that requirement."
] |
1110 | Recourse with Credit Card company after victimized by fraud? | [
"100936",
"5298",
"322428"
] | [
"\"Concealing parts of a document in order to obtain a signature is illegal. The company committed signature forgery because they effectively modified the document after you signed it (i.e. unfolded the parts that were previously folded). I suggest that you go to your local police department to file a report, citin... |
11104 | Selling a stock for gain to offset other stock loss | [
"518310"
] | [
"Long term gains are taxed at 15% maximum. Losses, up to the $3K/yr you cited, can offset ordinary income, so 25% or higher, depending on your income. Better to take the loss that way. With my usual disclaimer: Do not let the tax tail wag the investing dog."
] |
1111 | Options on the E-mini S&P 500 Futures at the CME: what's the expiry date of the underlying future? | [
"262589"
] | [
"\"I don't see EWQ6 in any of your links, so I can't say for certain, but when you buy an option contract on a future, the option will be for a specific future (and strike). So the page you're looking at may be for options on E-mini S&P 500 futures in general, and when you actually purchase one through your broker... |
1113 | If the former owner of my home is still using the address, can it harm me? | [
"454265",
"51725"
] | [
"Give it to your mailman to return to sender. For this kind of material, return service is always requested, and it will let the bank know that they have incorrect address information. If the owner needs the cards, he'll contact the bank, or the bank will contact him to verify the address. Either way, as long as it... |
1114 | Primary residence converted to a rental property & tax implications | [
"474057",
"185681"
] | [
"You will need to look at the 27.5 year depreciation table from the IRS. It tells you how you will be able to write off the first year. It depends on which month you had the unit ready to rent. Note that that it might be a different month from when you moved, or when the first tenant moved in. Your list is pretty g... |
1115 | Administrator vs Broker vs Custodian for a Solo 401(k)? | [
"256448"
] | [
"Their paperwork should help you along. Schwab is the broker and custodian, you are the administrator. There's virtually no paperwork after the account is opened, until you hit $250K in value, and then there's one extra IRS form you need to fill out each year. See One-Participant 401(k) Plans for a good IRS desc... |
1116 | Faster degree with debt or slower degree with no debt? | [
"242501"
] | [
"Basically do some math on the 2 schools. Let's say you know it will take 4 years if you go the cheaper route, at $8k/yr, plus the $300/month, total cost: $46,400. If you (for these purposes) do not have to pay back new loans until school is completed, (and depending on the rate of those loans), you would need appr... |
1117 | I want to invest in a U.S.-based company with unquoted stocks, but I am a foreigner. How to do this? | [
"327997",
"177050"
] | [
"\"The recommendation is not to make the investment. In general, a company does not have to sell their shares to you or allow you to become an investor, because, as you have stated, it is a private company not quoted on the stock market. If everyone were trustworthy, you could buy the tools for $11000 -- so that ... |
1118 | Appropriate model for deferred costs as a line-of-credit | [
"335667"
] | [
"There's no standard formula. You can compare the going rates on the market for unsecured LOCs and take that as the starting anchor. Unsecured lines of credit run in the US at about 8-18%. Your risk should be reflected in the rate, and I see no reason why the rate would change throughout the loan. As to the amount ... |
1119 | Can I deduct the cost of software and/or computer that I need to do my job? | [
"136850"
] | [
"\"Yes, this is a miscellaneous itemized deduction. https://www.irs.gov/publications/p529/ar02.html For this to impact your taxes, you have to be itemizing deductions (have total deductions greater than standard deduction), and the total of all miscellaneous deductions needs to exceed the \"\"2% floor\"\" described... |
112 | Will my wife's business losses offset my income on a joint tax return? | [
"153541"
] | [
"\"First, filing status. If you and your wife are legally married, you should be filing your tax returns as married, either jointly or separately. In the US, \"\"head of household\"\" has a specific meaning and is for unmarried people who are supporting one or more relatives, per the IRS. If you are working full-ti... |
1120 | Is it normal for brokers to ask whether I am a beginner? | [
"51203",
"23121",
"391715",
"271129"
] | [
"\"Brokers need to assess your level of competency to ensure that they don't allow you to \"\"bite off more than you can chew\"\" and find yourself in a bad situation. Some brokers ask you to rate your skills, others ask you how long you've been trading, it always varies based on broker. I use IB and they gave me a... |
1121 | What is the correct answer for percent change when the start amount is zero dollars $0? | [
"420810",
"562220",
"424053",
"294191",
"483220",
"217473",
"453948",
"553652",
"403480"
] | [
"\"There is no numerical convention in finance that I have ever seen. If you look at statements or reports that measure growth when the starting value is negative or zero, you typically see \"\"n/a\"\" or \"\"-\"\" or \"\"*\"\" as the result. Any numerical result would be meaningless. Suppose you used 100% and a... |
1122 | What is the tax levied against stock portion cashed out of 401k? | [
"21699",
"30912"
] | [
"\"You pay tax on the entire amount, not just the capital gains. When cashing out such a plan you would pay the top marginal tax rate on the full amount plus another 10% in penalties. It is very likely that the additional income, of the balance withdrawal, will increase your top marginal rate. It is impossible... |
1123 | Should I have to pay income tax on contribution to home office rent from company? | [
"2528"
] | [
"This is essentially a reimbursement of your expense. Since you can deduct the expense, the fact that the reimbursement is taxable doesn't affect you much. You deduct your home office expenses on your annual tax return using form 8829. See the IRS site for more details. If you're asking about the UK tax, there may ... |
1125 | IRS “convenience of the employer” test when employee lives far from the office | [
"147624",
"63919",
"543114"
] | [
"\"The decision whether this test is or is not met seems to be highly dependent on the specific situation of the employer and the employee. I think that you won't find a lot of general references meeting your needs. There is such a thing as a \"\"private ruling letter,\"\" where individuals provide specific inform... |
1126 | How much total salary to allocate to defer $17,500 to 401(k)? | [
"143862"
] | [
"You're on the right track, and yes, that small difference is subject to income taxes. Do you use a payroll service? I do the same thing and use my payroll software to tweak the salary until the paycheck is just a few dollars every month (we run payroll once a month), with the rest going to the 401(k) and payroll t... |
1127 | Is this reply promising a money order and cashier check a scam? | [
"225030",
"491600"
] | [
"\"It's a scam. The cashier's check will be forged. Craigslist has a warning about it here (item #3). What kind of payment do you think is not fakable? Or at least not likely to be used in scams? When on craigslist - deal only locally and in person. You can ask to see the person's ID if you're being paid by check... |
1128 | Can I just file a 1040-ES? | [
"442146"
] | [
"Yes, you can send in a 2012 1040-ES form with a check to cover your tax liability. However, you will likely have to pay penalties for not paying tax in timely fashion as well as interest on the late payment. You can have the IRS figure the penalty and bill you for it, or you can complete Form 2210 (on which these ... |
1129 | What standards should I expect of my CPA when an error was made? | [
"222726"
] | [
"\"What is the right way to handle this? Did you check the forms? Did the form state $0 tax due on the FTB LLC/Corp form (I'm guessing you operate as LLC/Corp, since you're dealing with the Franchise Tax)? The responsibility is ultimately yours. You should cross check all the numbers and verify that they're correct... |
1130 | Self-employed individual 401k self, match, and profit sharing contribution limits? | [
"336917",
"247473"
] | [
"\"It seems I can make contributions as employee-elective, employer match, or profit sharing; yet they all end up in the same 401k from my money since I'm both the employer and employee in this situation. Correct. What does this mean for my allowed limits for each of the 3 types of contributions? Are all 3 ty... |
1132 | From ACH direct debit to Prepaid card? | [
"580240"
] | [
"This would be exactly the sort of product that a thief would want, if they had got ahold of some account numbers and wanted to steal the money from those accounts, in a way that would let them spend it as conveniently as possible. That should explain why I think it's unlikely that any such product exists."
] |
1133 | How to avoid maintenance fee when balance drops below minimum? | [
"310207"
] | [
"Looks like you have three options: Outside of this you might need to look for a different type of account. Hope that helps."
] |
1134 | How do I account for 100 percent vendor discounts in GnuCash 2.6.5 | [
"365721",
"153452"
] | [
"I am no expert on the situation nor do I pretend to act like one, but, as a business owner, allow me to give you my personal opinion. Option 3 is closest to what you want. Why? Well: This way, you have both the record of everything that was done, and also IRS can see exactly what happened. Another suggestion would... |
1135 | eBay Account and SIM cards sent to my address | [
"479548"
] | [
"\"In your mother's position, I would do two things: Get a copy of her credit report. Money Advice Service has a useful page on how to do this - it is cheap (£2) or free to do and will immediately tell you if someone else is using her address for anything untoward. Check with the Post Office whether anyone has set ... |
1136 | Can self-employed individuals deduct their mileage spent commuting to events? | [
"263259"
] | [
"I looked at Publication 463 (2014), Travel, Entertainment, Gift, and Car Expenses for examples. I thought this was the mot relevant. No regular place of work. If you have no regular place of work but ordinarily work in the metropolitan area where you live, you can deduct daily transportation costs between h... |
1137 | What should I look at before investing in a start-up? | [
"88508",
"252942",
"234506",
"232388",
"126065"
] | [
"Here are the basic questions I usually ask any new business startup: Do these numbers/answers seem reasonable to you and is some benchmark available that allows you to see how likely this is? Remember, particularly in Internet-based advertising ventures, the client may be indirect. The person who clicks on a Go... |
1139 | Auto loan: must make X payments before payoff | [
"469270"
] | [
"\"Paperwork prevails. What you have is a dealer who get a kickback for sending financing to that institution. And the dealer pretty much said \"\"We only get paid our kickback at two levels of loan life, 6 and 12 months.\"\" You just didn't quite read between the lines. This is very similar to the Variable Annui... |
1140 | Contributing to a Roth IRA while income tax filing status is “Married Filing Separately”? | [
"119051"
] | [
"You must file as married for 2013 if you were married as of December 31, 2013. It is true that the Roth IRA contribution phaseout for Married Filing Separately is 0 - $10K. But you can still do backdoor Roth IRA contribution (contribute to a Traditional IRA, then convert it to a Roth IRA; assuming you do not have ... |
1142 | How to pay myself as a single person corporation in Ontario? Should I get an accountant? | [
"500744"
] | [
"\"Get an accountant. Now. There are many subtle things that you do not know especially if you are just starting with your own corporation. There is also an issue of corporate tax return that you will have to face pretty soon. You should be looking for accountant that does accounting for corporations, there are com... |
1146 | Dec 31 accounting for S Corp - what to do with loss? | [
"445306"
] | [
"Conceptually, the entries are: Yes. And since you're the sole owner, your basis will equal to the equity balance on the balance sheet. Keep in mind the book and tax basis will probably be different, so you may want to keep a separate calculation to track the tax basis. There is no journal additional journal entr... |
1147 | Does borrowing from my 401(k) make sense in my specific circumstance? | [
"437706",
"135005",
"531051",
"317419",
"88597",
"564796"
] | [
"Your comment regarding your existing finances is very relevant and helpful. You need to understand that generally in personal finance circles, when a strong earning 22 year-old is looking for a loan it's usually a gross spending problem. Their car costs $1,000 /month and their bar tabs are adding up so the only ... |
1148 | Would it make sense to buy a rental property as an LLC and not in my own name? | [
"246547",
"390015",
"110465",
"170867",
"513606",
"32057"
] | [
"As far as the spam mail goes, I own a rental (in Connecticut) and live in Massachusetts, I get very little mail related to this property. I view this as a non-compelling reason. Your other reasons pick up quick in value. The protection from the rest of your assets is helpful, and the one con for most is the inabi... |
1149 | How to open a Mega Money Market account without an ssn? | [
"278077"
] | [
"According to the IRS: Aliens who are not eligible to apply for a U.S. social security number, or who do not meet the Social Security Administration's evidence requirements for an SSN, may apply for an Individual Taxpayer Identification Numbers (ITIN) from the Internal Revenue Service if they have a valid ... |
1153 | Strategy to minimize taxes due to unpaid wages? | [
"163199"
] | [
"\"Can I write off the $56,000 based on demand letters? Or do I need to finish suing him to write-off the loss? No and no. You didn't pay taxes on the money (since you didn't file tax returns...), so what are you writing off? If you didn't get the income - you didn't get the income. Nothing to write off. Individu... |
1154 | What can I do with “stale” checks? Can I deposit/cash them? | [
"88973",
"165364",
"516103"
] | [
"\"Check is an obligation to pay, and is unconditional. In the US, checks don't expire (there are countries where they do). Endorsements such as \"\"void after X days\"\" are meaningless and don't affect the obligation to pay. The bank is under no obligation to honor a check that is more than 6 months old (based on... |
1155 | How can I save LLC fees when investing in Arizona real estate from California | [
"509318"
] | [
"You won't be able to avoid the $800 fee. CA FTB has a very specific example, which is identical to your situation (except that they use NV instead of AZ), to show that the LLC has liability in California. State of formation is of no matter, you'll just be liable for fees in that state in addition to the CA fees. T... |
1156 | Taxes and withholding on unpaid salary | [
"496959"
] | [
"As others have said, make sure you can and do file your taxes on a cash basis (not accrual). It sounds like it's very unlikely the company is going to issue you a 1099 for invoices they never paid you. So you just file last year's taxes based on your income, which is the money you actually received. If they do pay... |
1158 | If I had no income due to a net operating loss, will I be refunded the Social Security and Medicare taxes withheld? | [
"480005"
] | [
"\"If you have a CPA working for you already - this is a question you should be asking that CPA. Generally, NOL only affects the tax stemming from the Internal Revenue Code (Title 26 Subtitle A of the US Code). Social Security and Medicare, while based on income, are not \"\"income tax\"\", these are different taxe... |
1160 | Received mysterious K-1 form, seeking answers | [
"554293",
"306180"
] | [
"\"You should contact the company and the broker about the ownership. Do you remember ever selling your position? When you look back at your tax returns/1099-B forms - can you identify the sale? It should have been reported to you, and you should have reported it to the IRS. If not - then you're probably still the ... |
1161 | Magazine subscription leads to unauthorized recurring payment | [
"168139",
"109424"
] | [
"\"In 2010, the Restore Online Shoppers' Confidence Act was passed, which prohibited certain activities, most of which had to do with online sites sharing your CC info with third parties. However, the final part of the act deals with \"\"negative option\"\" marketing, which is basically what you're describing - \"... |
1162 | Should rented software be included on my LLC's balance sheet? | [
"92819"
] | [
"I was only able to find Maryland form 1 to fit your question, so I'll assume you're referring to this form. Note the requirement: Generally all tangible personal property owned, leased, consigned or used by the business and located within the State of Maryland on January 1, 201 must be reported. Software licen... |
1163 | How to allocate profit and loss in partnership where one partner's activities are profitable and the other's aren't? | [
"285449"
] | [
"You should have a partnership agreement of some sort. The reason partnership agreements exist is so nobody can change the game because of the outcome. I'd say the most typical partnership agreement is that everyone gets an equal cut, meaning that everyone also makes an equal contribution. If you have start up ... |
1164 | Pattern Day Trade Rule | [
"567383"
] | [
"I would suggest following your quote and having a read of the web page supplied, that buys then sells or sells short then buys (the same security on the same day) four or more times in five business days, ... So it is a two way transaction that counts as 'one'."
] |
1165 | Deducting Hobby Expenses on my Federal Income Taxes? | [
"442142",
"91882"
] | [
"I suggest to start charging slightly more than needed to cover expenses. All you need is to show profit. It doesn't have to be significant - a couple of hundred of dollars of consistent yearly profit should suffice to show a profitable business. Then you can deduct on Schedule C all the related expenses. The cavea... |
1166 | How to invest a small guaranteed monthly income? | [
"53200"
] | [
"\"In my opinion, you can't save too much for retirement. An extra $3120/yr invested at 8% for 30 years would give you $353K more at retirement. If your \"\"good amount in my 401k\"\" is a hint that you don't want us to go in that direction, then how about saving for the child's college education? 15 years' saving... |
1167 | Dealing with Form 1099 | [
"345942"
] | [
"Am I required to send form 1099 to non-US citizens who are not even residing in the US? Since they're not required to file US taxes, do I still have to send the form to them? That's tricky. You need to get W8/W9 from them, and act accordingly. You may need to withhold 30% (or different percentage, depending on tax... |
1169 | Scammer wants details and credentials for my empty & unused bank account. What could go wrong? | [
"293628",
"589429"
] | [
"\"It's a scam. Here are the many signs: The bank will never ask for your password. They can access your account without it. The bank will never use a customer's account for their own business. They have their own accounts. \"\"Some guy\"\" is not a bank employee. Bank employees are people that you meet at the b... |
1170 | Why is mortgage interest deductible in the USA for a house you live in? | [
"65875",
"239512",
"481555"
] | [
"\"Taxes are a tool for achieving social policy goals. While Americans consider \"\"Socialism\"\" to be a curse, the US is in fact quite socialistic. Mostly towards corporations, but sometimes even the normal people, not only the \"\"Corporation are people, my friend\"\" (M. Romney) get some discounts. The tax dedu... |
1171 | Chase bank not breaking large bills for non-account holders | [
"461290",
"250564"
] | [
"Yes it is (legal). There is of course no law requiring any business you walk in to break your money. What made you think there would be? Being a bank in the US (and in other countries) has some legal consequences, but none of them relates to 'having to do business with anyone that walks in', neither 'having to bre... |
1177 | Investment strategy for a 20 year old with about 30k in bank account | [
"386305",
"225282",
"584304",
"482310"
] | [
"Thank you for your service. My first suggestion since your car is a planned for the near future is keep that amount in savings and just pay cash. There are plenty of attractive offers to entice you to finance your vehicle but there really is no compelling reason to do it considering the savings you have. Second ... |
1178 | If you buy something and sell it later on the same day, how do you calculate 'investment'? | [
"542649",
"8063",
"467511",
"444540",
"426343"
] | [
"Your initial investment in this case is $9 on the first morning. Every other morning you are using part of your profits to buy the new piece of jewelry, so you are actually not investing any new funds. So each day you are effectively keeping $1 of your profits and re_re-investing $9. But your initial investment of... |
1181 | Can my own corporation deduct my expenses even if I am a full time employee? | [
"541809"
] | [
"\"No, your business cannot deduct your non-business expenses. You can only deduct from your business income those reasonable expenses you paid in order to earn income for the business. Moreover, for there to be a tax benefit, your business generally has to have income (but I expect there are exceptions; HST input... |
1185 | Can Per Diem deductions include family travel, meals and housing? | [
"503651"
] | [
"You cannot deduct anything. Since you're actually moving, your tax home will move with you. You can only deduct the moving expenses (actual moving - packing, shipping, and hotels while you drive yourself there)."
] |
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