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What is a typical investment portfolio made up of? | An investment portfolio is typically divided into three components: All three of those can be accessed through mutual funds or ETFs. A 401(k) will probably have a small set of mutual funds for you to pick from. Mutual funds may charge you silly expenses if you pick a bad one. Look at the prospectus for the expense rati... |
Get a loan with low interest rate on small business | I am going to assume your location is the US. From what I am seeing it is unlikely you will get a loan other than some government backed thing. You are a poor risk. At 7k/month, you have above average household income. The fact that all of your income "is being washed off somewhere" is a behavior problem, not a mathe... |
Are lottery tickets ever a wise investment provided the jackpot is large enough? | I think playing certain kinds of lottery is as economically sound as buying certain kinds of insurance. A lottery is an inverted insurance. Let me elaborate. We buy insurance for at least two reasons. The first one is clear: We pay a fee to protect ourselves from a risk which we don't want to (or cannot) bear. Althou... |
What do Earnings Per Share tell potential shareholders? | Earnings per share is the company profit (or loss), divided by the number of outstanding shares. The number should always be compared to the share price, so for instance if the EPS is $1 and the share price is $10, the EPS is 10% of the share price. This means that if the company keeps up this earning you should expect... |
Carry-forward of individual losses, with late-filed past taxes [US] | Is Jim right to be worries? Yes, since the statute of limitations for refunds for 2012 is close and he might lose any tax refunds he might be entitled to for that year. Also, the pattern itself may raise some flags of suspicion and trigger audits, both because of such a variance in income and because of the medical exp... |
NYSE vs. Nasdaq - can I tell what exchange a ticker traded on, based solely on the ticker? | You cannot determine this solely by the ticker length. However, there are some conventions that may help steer you there. Nasdaq has 2-4 base letters BATS has 4 base letters NYSE equity securities have 1-4 base letters. NYSE Mkt (formerly Amex) have 1-4 base letters. NYSE Arca has 4 base letters OTC has 4 base letters.... |
Expecting to move in five years; how to lock mortgage rates? | First consider the basic case of what you are asking: you expect to have a future obligation to pay interest, and you are concerned that the rate when you pay it, will be higher than the rate today. In the simplest case, you could theoretically hedge that risk by buying an asset which pays the market interest rate. As ... |
Why don't people generally save more of their income? | This question is likely to be voted closed as opinion-based. That said - In general people have become accustomed to instant gratification. They also have the media showing them luxury and are enticed every day to buy things they don't need. In the US, the savings rate is awfully low, but it's not just the lower 50%, ... |
What is the P/E ratio for a company with negative earnings? | When presenting negative P/E values, most brokers and equity analysts show them as "n.m.", which stands for not meaningful. I have never seen a P/E ratio of 0. |
I cosigned for a friend who is not paying the payment | The point of co-signing for a friend is that they're your friend. You signed for them in the belief that your friendship would ensure they didn't burn you. If your friend has hung you out to dry, basically they aren't your friend any more. Before you lawyer up, how's about talking to your friend as a friend? Sure he... |
Is it possible to make money by getting a mortgage? | The likely reason the mortgage is "tricky to get" is the adviser is probably recommending an interest-only mortgage in which there is no repayment of principle before maturity. That would allow you to deduct the amount of the interest expense from your taxable income. Your investment grows compound tax deferred and t... |
Buy US ETF as foreigner — a bad idea? | Here're some findings upon researches: Two main things to watch out for: Estate tax and the 30% tax withholding. These 2 could be get around by investing in Luxembourg or Ireland domiciled ETF. For instance there's no tax withholding on Ireland domiciled ETF dividend, and the estate tax is not as high. (source: BogleH... |
To whom should I report fraud on both of my credit cards? | First thing to do when you notice a credit card fraud is to call the respective banks who issues the credit card and most banks immediately (as far as my experience goes - twice) they will cancel the credit card and issue a new card with different number. Your credit card account will remain the same, no effect on cred... |
Learn investing as a programmer | My master's thesis was on using genetic algorithms and candle stick method. If you are familiar, the AI was used to answer questions like "what is a long day", which is not formally defined in most candle stick texts. So in theory unlimited potential for learning including teaching machines to learn. Wall street pa... |
Is Weiss Research, Inc. a legitimate financial research company? | Weiss Ratings is an independent company providing data and analysis for the bank and insurance industries. We’ve published the Weiss Financial Strength Ratings for banking institutions and insurance companies since 1989 and continue to use the methodology praised by the GAO back in 1994. Weiss Ratings has consistent... |
In a reverse split, what happens to odd lots? | Usually five shares and some cash. |
Should I switch to this high rate checking account for my emergency fund? | I would also check into whether you can keep using your credit card instead of switching to a debit card tied to your checking account. The credit card provides you protection from someone wiping your account out. Most banks will help you get the money back if this happens while using a debit card. But you are out t... |
Please help me understand reasons for differences in Government Bond Yields | The real question is what does FT mean by "Eurozone Bond". There is no central European government to issue bonds. What they seem to be quoting is the rate for German Bunds. Germany has a strong economy with a manageable debt load, which means it is a safe Euro denominated investment. Bunds are in high demand across th... |
Car Loan upside down--refinance before selling? | Carmax will be interested in setting a price that allows them to make money on the reselling of the vehicle. They won't offer you more than that. The determination of the value compared to the BlueBook value is based on condition and miles. The refinancing of the auto loan could lower your monthly payment, but may not ... |
Student loan payments and opportunity costs | Already a lot of great answers, but since I ask myself this same question I thought I'd share my 2 cents. As @user541852587 pointed out, behavior is of the essence here. If you're like most recent grads, this is probably the first time in your life you are getting serious about building wealth. Can you pay your loans ... |
What are the advantages of paying off a mortgage quickly? | I used to think that paying off ahead of time made sense, but I no longer do, at least in most cases. The upside is that you can get a return on your money equal to the mortgage interest rate (it's less than that in the US, where mortgage interest is deductible, so it's roughly the mortgage interest rate * 1 - your ma... |
How to calculate interest payments without EBIT | The actual financial statements should always be referenced first before opening or closing a position. For US companies, they are freely available on EDGAR. Annual reports are called 10-Ks, and quarterly reports are called 10-Qs. YHOO and GOOG do a great job of posting financials that are quickly available, but money... |
How to determine contractor hourly rate and employee salary equivalents? | Here are a few points to consider: Taxes: As a consultant, you will be responsible for the employer portion of the Social Security and Medicare taxes, and you might have to pay for state unemployment insurance and state disability insurance, as well. Office expenses: As a consultant, you may be required to buy your own... |
When will Canada convert to the U.S. Dollar as an official currency? | I would say at about the same time as the US converts to having a public health system that covers everyone with very few people with private insurance. |
Pros / cons of being more involved with IRA investments [duplicate] | Let’s compare your target fund, FFFFX to a well-known ETF, SPY; SPDR S&P 500 ETF. Source: Yahoo Finance The difference in performance over a longer time-frame is significant, You can and should carefully research better funds in order to improve performance. FULL DISCLOSURE: My own IRA is at Fidelity. Less than 10% of ... |
How can I find out who the major short sellers are in a stock? | There is no way to know anything about who has shorted stuff or how concentrated the positions are in a few investors. Short positions are not even reported in 13(F) institutional filings. I'll take the bonus points, though, and point you to the US Equity Short Interest data source at quandl. |
Tax implications of exercising ISOs and using proceeds to exercise more ISOs | This may be a good or a bad deal, depending on the fair market value (FMV) of the stock at the time of exercise. Let's assume the FMV is $6, which is the break even point. In general this would probably be treated as two transactions. So overall you would be cash neutral, but your regular tax income would be increased ... |
How can a Canadian establish US credit score | 1) The easy way is to find a job and they will assign you an SSN. 2) Here's the hard way. If you're Canadian, open a TD Boarderless account in the U.S. Put a small investment into any investment that would generate some type of income, such as capital gain, dividends, interest and etc... Then you will need to file ... |
How much percent of my salary should I use to invest in company stock? | I agree with the other comments that you should not buy/hold your company stock even if given at a discount. If equity is provided as part of the compensation package (Options/Restrictive Stock Units RSU)then this rule does not apply. As a matter of diversification, you should not have majority equity stake of other co... |
Tax on Stocks or ETF's | No, not really. This depends on the situation and the taxing jurisdiction. Different countries have different laws, and some countries have different laws for different situations. For example, in the US, some investments will be taxed as you described, others will be taxed as "mark to market", i.e.: based on the FMV d... |
Hypothetical: can taxes ever cause a net loss on otherwise-profitable stocks? | This was the day traders dilemma. You can, on paper, make money doing such trades. But because you do not hold the security for at least a year, the earnings are subject to short term capital gains tax unless these trades are done inside a sheltered account like a traditional IRA. There are other considerations as wel... |
Portfolio Diversity : invest $4000 into one account or $1000 into 4 accounts? | You spread money/investment across different accounts for different reasons: All this is in addition to diversification reasons. Investing all your money into one stock, bond, Mutual fund, ETF is risky if that one segment of the economy/market suffers. There is a drawback to diversification of accounts. Some have mini... |
Is debt almost always the cause of crashes and recessions? | The root cause can be said to always be a crisis in confidence. It may be due to a very real event. However, confidence is what pushes the markets up and worries are what bring them down. |
High Leverage Inflation Hedges for Personal Investors | Look into commodities futures & options. Unfortunately, they are not trivial instruments. |
Claiming business expense from personal credit card | There is no law that requires you to have a separate bank account for your business, or to pay all expenses from a business bank account. It is a GOOD IDEA to have a separate bank account and pay all business expenses from that account and all personal expenses from your personal account, because that makes sorting out... |
Started new job. Rollover previous employer 401k to new 401k, IRA or Roth IRA? | You should never roll a 401(k) to a Roth IRA. If the intention is to do so, you are better off rolling to a traditional IRA, and then converting. (Per the comment below, I should add - if the 401(k) contained post tax money, this portion rolls to a Roth, not a Tradition IRA. You then have the exercise of converting/rec... |
When to hire an investment professional? | I don't know what you mean by 'major'. Do you mean the fund company is a Fidelity or Vanguard, or that the fund is broad, as in an s&P fund? The problem starts with a question of what your goals are. If you already know the recommended mix for your age/risk, as you stated, you should consider minimizing the expenses, ... |
Does anyone offer no interest loans? | Such loans are of course possible. They exist because the lender gains something other than interest from them: What would happen to the economy if these were common? These are common, common as anything. In fact where it's not banks lending the money, these are the default. So, nothing would happen to the economy, thi... |
How can I stop wasting food? | Let me start out by saying I know your pain. One of the most important things to do is have the basics in stock in your larder. They are the sorts of things that keep well, and you can make great simple meals from them whenever, without having to worry about them going off in a matter of days. A simple inventory like ... |
Curious about Liverpool FC situation | AFAIK gillet and hicks received massive loans to fund their purchase and they have not been keeping up the repayments so now the creditors own the club. Its like getting a car on the never never, or a mortgage, i fyou don't keep up repayments the credit company take back the car or the bank repossess your house. I am s... |
If an option's price is 100% made up of its intrinsic value, is there a way to guarantee a non-loss while having a chance at a profit? | Yes, one such strategy is dividend arbitrage using stock and in the money options. You have to find out which option is the most mispriced before the ex-dividend date. |
Why do consultants or contractors make more money than employees? | Contractors earn less. Especially the people that are hired under them. They usually have no education, and base pay; long hours and hard work. |
Online Return Policies | If you paid by credit card, file a dispute with the credit card company. They will credit you the money immediately while they investigate. The burden of proof will then be on the merchant. Keep your documents handy in case you need them: USPS receipt, proof of delivery, copies of all correspondance, etc. File the cred... |
Why is gold not a good investment? | If you buy a gold brick and put it in a pillow, after one year you still have one gold brick. People may value it more than before or less then before, but it's still the one gold brick you had. If you buy a cow and put it on a pasture, after one year you have a fatter cow and plenty of milk. You now have more of the c... |
Peer to peer lending business model (i.e. Lending Club) | The best description of P2P lending process I saw comes from the SEC proceedings. They are very careful about naming things that are happening in the process. Prosper got back to business after this order, but the paper describes succinctly how Prosper worked when its notes haven't yet been registered by the SEC. These... |
Why is the stock market closed on the weekend? | The answer is 7-fold: BOTTOM LINES: Bubble; bursting bubble; Great Depression; Victory in WWII; All work and no play makes Jack (& Jill) very dull persons. |
Theory/Strategy for pricing by volume | Actually, the rate of change could be more or less constant, but you might have a minimum price that represents your fixed costs. So you might sell a milligram for $1 (which is ridiculous in terms of per-unit pricing) to cover fixed costs, and add $0.50/lb for each step in size to cover variable costs (cost of raw mat... |
W2 vs 1099 Employee status | In general What does this mean? Assume 10 holidays and 2 weeks of vacation. So you will report to the office for 240 days (48 weeks * 5 days a week). If you are a w2 they will pay you for 260 days (52 weeks * 5 days a week). At $48 per hour you will be paid: 260*8*48 or $99,840. As a 1099 you will be paid 240*8*50 or... |
How much more than my mortgage should I charge for rent? | Your reasoning is backwards. As others have pointed out, you cannot just decide how much you charge irrespective of the market. Let me paraphrase a little economics 101 to underline why you also should not think like this: You can see a rental property like your house (the same reasoning is usually explained with the e... |
Tax liability in US for LLC's owned by an Indian Citzen | The LLC will not be liable for anything, it is disregarded for tax purposes. If you're doing any work while in the US, or you (or your spouse) are a green card holder or a US citizen - then you (not the LLC) may be liable, may be required to file, pay, etc. Unless you're employing someone, or have more than one member ... |
How to calculate my real earnings from hourly temp-to-hire moving to salaried employee? | This arrangement is a scam to get around certain tax and benefits laws, both State and Federal. I know they can't get away with this with a person-as-contractor, but this "he's not a contractor, he's a business owner" may move it into a gray area. (I used to know this stuff cold, but I've been retired for a while.) The... |
Should I cancel an existing credit card so I can open another that has rewards? | You're right to keep the oldest one. That's an asset to your credit rating. Since you're already responsible with your credit, a dip in your credit rating doesn't really matter unless you're looking for another loan, like a mortgage. I personally like the cash-back rewards because they're the most flexible, so you hav... |
Does settlement of second mortgage count as short sale? | No that will not count as a short sale although it may still affect your chances of getting a loan because some lenders wont want to see it on your credit if you are pursuing a new FHA loan. In the best case scenario you will need an explanation letter of why you did this. In the worst case scenario the lender will wan... |
Value of credit score if you never plan to borrow again? | In the United States, the Fair Credit Reporting Act allows companies to buy your credit information for "legitimate business needs." The legitimate use of credit scores and credit reporting varies state to state, but like it or not, you can expect a lot more non-lending use of your credit information in the future. Com... |
If a country can just print money, is global debt between countries real? | Debt can be denominated either in a currency the country controls or a currency the country doesn't control. If the debt is denominated in a currency the country controls then they have the option of "printing their way out of it". That option doesn't come for free, it will devalue their currency on the global market a... |
How to invest in a currency increasing in value relative to another? | On international stock exchanges, they trade Puts and Calls, typically also for currencies. If for example 1 NOK is worth 1 $ now, and you buy Calls for 10000 NOK at 1.05 $ each, and in a year the NOK is worth 1.20 $ (which is what you predict), you can execute the Call, meaning 'buying' the 10000 NOK for the contracte... |
How could I find someone to find a room for me to live in? (For a fee, of course.) | There are services, usually associated with real estate agents, that provide apartment search services for relocating professionals. I was very underimpressed when I was offered the use of such a service and did better on my own, but I did have the company paying for a hotel room while I searched so I had time to inves... |
Why do stocks tend to trade at high volumes at the end of (or start) the trading day? | The shift to trading at the close began in 2008. Traders did not want to be caught off guard by surprise news and there was a lot of volatility during the financial crisis, so they would close their position in the evening. Thats how it began. There are two reasons why it sticks around. First, there has been an increas... |
Why don't share prices of a company rise every other Friday when the company buys shares for its own employees? | Pre-Enron many companies forced the 401K match to be in company shares. That is no longer allowed becasue of changes in the law. Therefore most employees have only a small minority of their retirement savings in company shares. I know the ESOP and 401K aren't the same, but in my company every year the number of partici... |
Strategy for investing large amount of cash | Dollar Cost Averaging would be the likely balanced approach that I'd take. Depending on the size of the sum, I'd likely consider a minimum of 3 and at most 12 points to invest the funds to get them all working. While the sum may be large relative to my net worth, depending on overall scale and risk tolerance I could se... |
What is the difference between speculating and investing? | Investing is balancing the desire for return against the various risks that your money is faced with. There's also a recognition that an investment will be in place for some extended period of time. Speculation is seeking short-term maximum return, without protecting yourself against risk. "Speculation" or "Speculator... |
How to categorize shared income? | My company did not have income of $1000 and have a $500 expense Why not? Your company received $1000 from you, and based on its agreement with the other company - transferred out half of it. How does it not translate to having $1000 income and $500 expense? When I run a report I want to see that my business has $500 of... |
Do I need to write the date on the back of a received check when depositing it? | Changed to answer match the edited version of the question No, you do not need to write the date of your endorsement, but you can choose to do so if you want to. The bank stamp on the back will likely have the date and perhaps even the exact time when the check was deposited. The two lines are there in case you want t... |
Having a separate bank account for business/investing, but not a “business account?” | When I was younger I had a problem with Washington Mutual. Someone had deposited a check in to my account then ran my account negative with a "dupe" of my debit card. WaMu tied up my account for three months while they investigated because it wasn't simply a debit card fraud issue, this was check fraud (so they claim... |
How do I report this cash bonus/tip on income tax return? | How do I report this on our income tax return? You should include it on Line 7 of your Form 1040. Additionally, you should report the extra payment to your employer if it was greater that $20. You can use From 4070 to do this if your employer does not provide you with a form. And finally, you are right, you should Fo... |
Do my parents need to pay me minimum wage? | Yes they do. Here is the main page on minimum wage for the province of British Columbia. This page lists exemptions from BC minimum wage laws, but there are none for working in a family business, or for being underage. Students are exempted only if they are on approved work study. Generally all provinces apply minimum... |
How to invest in gold at market value, i.e. without paying a markup? | This is an excellent question; kudos for asking it. How much a person pays over spot with gold can be negotiated in person at a coin shop or in an individual transaction, though many shops will refuse to negotiate. You have to be a clever and tough negotiator to make this work and you won't have any success online. Ho... |
Will a credit card issuer cancel an account if it never incurs interest? | Credit card companies are businesses. Businesses will make any decision that makes them money. So does it make them money to cancel your account? It's a simple cost-benefit analysis: you having an account with them will probably give them some benefit for very little cost to them. The only real cost associated with an ... |
When an investor makes money on a short, who loses the money? | Michael gave a good answer describing the transaction but I wanted to follow up on your questions about the lender. First, the lender does charge interest on the borrowed securities. The amount of interest can vary based on a number of factors, such as who is borrowing, how much are they borrowing, and what stock are t... |
Any sane way to invest in both funds and stocks with UK ISA? | You could use a stock-only ISA and invest in Exchange Traded Funds (ETFs). ETFs are managed mutual funds that trade on open exchanges in the same manner as stocks. This changes the specific fund options you have open to you, but there are so many ETFs at this point that any sector you want to invest in is almost certai... |
Where to find out conversion ratio between General Motors bonds and new GM stock? | I would imagine that as a holder you will receive information in the post when it's made public, but I don't think it's been decided yet. This thread on the Motley Fool boards is keeping an eye on them - you might want to keep an eye on the thread. |
How can I figure out how much to bid on a parking space? | If the cash flow information is complete, the valuation can be determined with relative accuracy and precision. Assuming the monthly rent is correct, the annual revenue is $1,600 per year, $250/mo * 12 months - $1,400/year in taxes. Real estate is best valued as a perpetuity where P is the price, i is the income, and r... |
Rental Application Fees | Slightly abbreviated version of the guidance from NOLO.com California state law limits credit check or application screening fees landlords can charge prospective tenants and specifies what landlords must do when accepting these types of fees. (Cal. Civ. Code § 1950.6.) Here are key provisions: I am not a lawyer, but... |
Payroll reimbursments | After reading OP Mark's question and the various answers carefully and also looking over some old pay stubs of mine, I am beginning to wonder if he is mis-reading his pay stub or slip of paper attached to the reimbursement check for the item(s) he purchases. Pay stubs (whether paper documents attached to checks or thi... |
Cost basis allocation question: GM bonds conversion to stock & warrants | I found additional evidence on TDAmeritrade's website that helps confirm that the 3/17/11 prices Jason found are the ones to use since all three were traded on that day. Although GM+A had prices and trading as early as 2/28/11, GM+B's price and trading shows up no earlier than 3/14/11, but there was no trading indicat... |
401K - shift from agressive investment to Money Market | If you look at history, it shows that the more people predict corrections the less was the chance they came. That doesn't prove it stays so, though. 2017 is not any different than other years in the future: Independent of this, with less than ten years remaining until you need to draw from your money, it is a good idea... |
What's the fuss about identity theft? | Real world case: IRS: You owe us $x. You didn't report your income from job y. My mother: I didn't work for y. I don't even know who y is. IRS: If the W-2 is wrong, talk to them to get it fixed. My mother: I can't find y. Please give me an address or phone. IRS: We can't. You talk to them and get it fixed. I k... |
Are market orders safe? | Market orders can be reasonably safe when dealing with stocks that are rather liquid and have quite low volatility. But it's important to note that you're trading a large degree of control over your buy / sell price for a small benefit in speed or complexity of entering an order. I always use limit orders as they help ... |
Why would preferred shares have less potential for capital gain compared to common stock? | True blue preferred shares are considered loose hybrids of credit and equity. They are more senior than common equity in bankruptcy liquidation but pay out a dividend which is not mandatory. Financial institutions issue the bulk of genuine preferred shares because of their need for more flexibility than a bond but not... |
How does LLC ownership work in relation to U.S. tax law? | It really depends. If it is offered as compensation (ie in leiu of, or in addition to salary or cash bonus) then it would be reportable income, and if sold later for a profit then that would be taxable as gains. If this share is purchased as an investment at current value then it would be treated like other securitie... |
How are Share Awards and Sales Treated? | You likely received the shares as ordinary income for services of $10k, since they withheld taxes at granting. Separately, you likely had a short term capital loss on sale of $2k, since your holding period seems to have been under one year. |
Credit balance on new credit card | A Credit Balance means that you overpayed. That's nothing to worry about; it will just be used up by your next charges. Note that this can have two reasons - either you really paid too much; or you paid off a charge that is still 'pending' - meaning it has not yet posted and is not considered in the amount you owe: Mos... |
Double-entry accounting: how to keep track of mortgage installments as expenses? | The best thing for you to do will be to start using the Cash Flow report instead of the Income and Expense report. Go to Reports -> Income and Expense -> Cash Flow Once the report is open, open the edit window and open the Accounts tab. There, choose your various cash accounts (checking, saving, etc.). In the General... |
I want to invest in Gold. Where do I go and buy it? | I do not know anything about retail investing in India, since I am in the US. However, there are a couple of general things to keep in mind about gold that should be largely independent of country. First, gold is not an investment. Aside from a few industrial uses, it has no productive value. It is, at best, a hedge ag... |
How to get the lowest mortgage rate on a new purchase? | Start with the bank where you have your checking and savings account. They can streamline some of the paperwork, because they can see how much you make, and have access to several years worth of bank statement. Legitimate mortgage companies do publish their rates. But there is no guarantee that you will qualify for the... |
Have plenty of cash flow but bad credit | Sign up with credit karma. It will give you two scores for free and will show you credit cards you have a good chance in being approved for. Plus it will evaluate your score showing you the 6 items that effect your score and give you steps to improve them or tell you how long you have to wait until they roll off. Plu... |
Is there a government-mandated resource that lists the shareholders of a public company? | The list of the public companies is available on the regulatory agencies' sites usually (for example, in the US, you can look at SEC filings). Otherwise, you can check the stock exchange listings, which show all the public companies traded on that exchange. The shareholders, on the other hand, are normally not listed a... |
Do I need to pay quarterly 1040 ES and 941 (payroll)? | I'm not sure why you're confusing the two unrelated things. 1040ES is your estimated tax payments. 941 is your corporation's payroll tax report. They have nothing to do with each other. You being the corporation's employee is accidental, and can only help you to avoid 1040ES and use the W2 withholding instead - like an... |
What could happen to Detroit Municipal bonds because of Detroit's filing for bankruptcy? | Since the bondholders have voted to reject the emergency manager's plan, which would have paid them pennies on the dollar, the city is now attempting to discharge its short-term and long-term debt. If they get what they want in court, it is likely these bonds will become worthless. Even if they are only able to restruc... |
How do I calculate ownership percentage for shared home ownership? | It may clarify your thinking if you look at this as two transactions: I am an Australian so I cannot comment on US tax laws but this is how the Australian Tax Office would view the transaction. By thinking this way you can allocate the risks correctly, Partnership Tenancy Two things should be clear - you will need a go... |
I'm currently unemployed and have been offered a contract position. Do I need to incorporate myself? How do I do it? | I know this is a little late but here is my answer. No. You do not "need" to incorporate. In fact, incorporating in your situation will cost you in legal fees, administrative headaches, and a fair bit in taxes. The CRA would probably look at your corporation as a personal services corporation and it would not be allowe... |
Is there a benefit, long term, to life insurance for a youngish, debt, and dependent free person? | For most situations the "no need" answers are 100% correct. The corner case to think about depends on your health and your family history. Not to be morose, but if folks in your family who died young from heart issues, clusters of cancer or other terminal illnesses, you may want to consider getting medically qualified... |
Corporate Equity Draw vs Income | You tagged with S-Corp, so I assume that you have that tax status. Under that situation, you don't get taxed on distributions regardless of what you call them. You get taxed on the portion of the net income that is attributable to you through the Schedule K that the S-Corp should distribute to you when the S-Corp fil... |
Should I take a personal loan for my postgraduate studies? | If you are eligible for FEE-HELP then this is by far the cheapest way of financing higher education in Australia. |
Is it a bad idea to buy a motorcycle with a lien on it? | It's extra work for you to purchase a vehicle that has an outstanding lien on it. It's not uncommon, but there are things to take care of and watch out for. Really, all it means is that the vehicle you're trying to purchase hasn't been paid for in full by the current owner. Where things can get dodgy is ensuring that a... |
Theoretically, if I bought more than 50% of a company's stocks, will I own the company? | You guys seem to have forgotten the most important part of this equation ... i work for a bank and I can tell u this as a painful fact ... every business is governed by its paperwork ... articles bylaws operating agreements amendments and minutes .. if a companys paperwork says that the 51% owner can fire everyone and ... |
Is there a law or regulation that governs the maximum allowable interest amount that can be charged on credit cards or in agreements where credit is extended? | In the U.S., each state has its own local usury law. This website has a separate page for each state summarizing the local usury law and provides a reference to the local statute. The rules aren't simple: some set absolute limits, some appear to be pegged to something like the Prime Rate, some states don't have a gener... |
How to help a financially self destructive person? | I learned this from a business book on managing people, but I think it applies equally well here. You can't put in what God left out of people. I know several people with this mentality about money and you simply have to make your sculpture out of the clay you have. In this case, however, it seems that ship has saile... |
What types of receipts do I need to keep for itemized tax deductions? | I would say to only bother keeping the ones you know you'll use for itemized deductions. This includes any unreimbursed business expenses and vehicle licensing fees. There are a lot of other itemized tax deductions possible, but those are two common ones. Also, keep track of your business mileage (mileage before and af... |
Which banks have cash-deposit machines in Germany? | HypoVereinsbank (member of UniCredit group), a few savings banks ("Sparkasse") and VR Banks offer cash (bill) deposit machines. However, it can take a few business days until the deposit is credited to your checking account, which has to be with the same bank. Google for "Bargeldeinzahlungsautomat" (=cash deposit mach... |
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