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How can I stop a merchant from charging a credit card processing fee? | Mastercard rules also prohibit asking for ID along with the card. Yet, when I was at Disneyland, years ago (so I don't know if this is still a practice) they asked for my driver's license with every purchase. I can charge up to $200 at Costco with a swipe, not even a signature, but a $5 bottle of water (maybe it was $6... |
How to make a decision for used vs new car if I want to keep the car long term? | In a perfect world scenario you would get a car 2-5 years old that has very little mileage. One of the long standing archaic rules of the car world is that age trumps mileage. This was a good rule when any idiot could roll back an odometer. Chances are now that if you rolled your odometer back the car was serviced so... |
Does it make any sense to directly contribute to reducing the US national debt? | No, it makes no sense. The US national debt is different from other debt on TWO KEY WAYS : 1.) The national debt is not money we owe to our government IT IS MONEY WE OWE TO OURSELVES. 2.) If the GNP of our country can grow at a rate equal to or greater than the national debt interest, then the figure of national debt... |
I paid a contractor to make roof repairs to a house in my LLC. How can I deduct this cost? | This new roof should go on the 2016 LLC business return, but you probably won't be able to expense the entire roof as a repair. A new roof is most likely a capital improvement, which means that it would need to be depreciated over many years instead of expensed all in 2016. The depreciation period for a residential r... |
What could be the harm in sharing my American Express statements online? | Call me overly paranoid, but letting unknown people know your charges and your personal information is asking for trouble. They know who you are and how to find you and how much money you typically make. If they are decent people - okay, but otherwise they have good ground for comitting a crime against you - blackmail ... |
My Brokerage statement shows “Adjusted due to previous wash sale disallowed loss” what does this mean? | Summary of accepted answer: Your "loss" will not count as a loss (to the IRS). Which means no tax deduction for a "short-term capital loss" (on that sale). Instead, the IRS simply pretends like you had paid less for the stock to begin with. |
Does “income” include capital gains? | The $100,000 is taxed separately as "ordinary income". The $350,000 is taxed at long-term capital gains of 15%. Capital gains is not taxed at 20% until $415,050. Even though $100,000 + 350,000 = $450,000, only $350,000 can be taxed at capital gains. The total ordinary income tax burden will be $31,986 if single, in Cal... |
Why might it be advisable to keep student debt vs. paying it off quickly? | I see two advantages to not paying student loan debt off more quickly: For #1, however, there are plenty of other ways to build credit and I don't see this as being worth the downsides of not paying off the debt more quickly. In fact, in the United States student loan debt cannot be written off if you go bankrupt. This... |
Where can I find open source portfolio management software? | Have you looked into GnuCash? It lets you track your stock purchases, and grabs price updates. It's designed for double-entry accounting, but I think it could fit your use case. |
How do I report this cash bonus/tip on income tax return? | Daniel covered the correct way to file on the returns, I'm chiming in specifically to discuss the question of whether it could be a gift. The IRS will classify it as a tip even if the person giving it says it's a gift if a service was rendered before the gift was given. The only way that you could make a case to the IR... |
Are multiple hard inquiries for a specific loan type okay? | Assuming I don't need any other new lines of credit, can I get pre-qualified repeatedly (and with different banks) with impunity? Yes, but only for a limited period. FICO says: Hard inquiries are inquiries where a potential lender is reviewing your credit because you've applied for credit with them. These include credi... |
Credit Card Approval | Three big ones that are common in almost all banks (though, individually, they may have other criteria): Other criteria I've seen (while working in the banking industry - varying by bank): the average balance you keep on deposit accounts (checking/savings/CDs/etc), number of overdraft fees in the past 12 months (one ba... |
What does the -V indicate on MKC ticker | MKC is non-voting stock, MKC/V is voting stock. Ofter times you'll see two or more stock symbols for a company. These usually reflect different classes of stocks. For example, voting vs. non-voting (as in this case) or preferred vs non-preferred stock. |
For net worth, should I value physical property at my cost to replace it, or the amount I could get for selling it? | You are not asking for insurance purposes. So I'll go with this - I have two asset numbers I track. All investments, retirement accounts, etc, the kind that are valued at day's end by the market, etc. From that number I subtract the mortgage. This produces the number that I can say is my net worth with a paid in full h... |
What are the basics of apartment rental finances? | Well for starters you want to rent it for more than the apartment costs you. Aside from mortgage you have insurance, and maintenance costs. If you are going to have a long term rental property you need to make a profit, or at a bare minimum break even. Personally I would not like the break even option because there ... |
What are the marks of poor investment advice? | To evaluate any advice, this lists some of the things to consider: There are good advisors out there. There are also Bernie Madoffs who give the entire industry a black eye. In the end, the best path is to educate yourself, read as much as you can before you invest. Better to lose a bit by staying out of the market tha... |
How much house can a retired person afford | Consider a single person with a net worth of N where N is between one and ten million dollars. has no source of income other than his investments How much dividends and interest do your investments return every year? At 5%, a US$10M investment returns $500K/annum. Assuming you have no tax shelters, you'd pay about $... |
Why would you ever turn down a raise in salary? | I once turned down a raise because I didn't agree with the employee review that supposedly substantiated the raise. I felt the review to be superficial and incomplete. Then I refused to sign it, or take the accompanying raise, due to that fact. |
Are stock purchases on NASDAQ trackable to personal information? | In the United States, when key people in a company buy or sell shares there are reporting requirements. The definition of key people includes people like the CEO, and large shareholders. There are also rules that can lock out their ability to buy and sell shares during periods where their insider knowledge would give ... |
Paying extra on a mortgage. How much can I save? [duplicate] | If you're truly ready to pay an extra $1000 every month, and are confident you'll likely always be able to, you should refinance to a 15 year mortgage. 15 year mortgages are typically sold at around a half a point lower interest rates, meaning that instead of your 4.375% APR, you'll get something like 3.875% APR. That... |
Car financed at 24.90% — what can I do? | You could look into refinancing with a bank or credit union. But to weed out options quickly, use a service like LendingTree, which can vet multiple options for you a whole lot more quickly than you could probably do yourself. (I don't work for, or get any benefit from LendingTree.) Whatever you do, try to do all th... |
If I were to get audited, what would I need? | While IANAL (tax or otherwise), I have always found that keeping original receipts is the only way to go. While anything can, at some level, be forged or faked, a photo is one more step removed from the original. A mere listing on a web site isn't much proof of anything. Keep your originals for a suggested seven years... |
Technical Analysis: the concepts of overbought / oversold don't make sense | You are right that every transaction involves a seller and a buyer. The difference is the level of willingness from both parties. Overbought and oversold, as I understand them (particularly in the context of stocks), describe prolonged price increase (overbought, people are more willing to buy than sell, driving price... |
How will Brexit affect house mortgages? | Only you can decide whether it's wise or not given your own personal circumstances. Brexit is certainly a big risk, and noone can really know what will happen yet. The specific worries you mention are certainly valid. Additionally you might find it hard to keep your job or get a new one if the economy turns bad, and in... |
Are prepayment penalties for mortgages normal? | It's not uncommon to have a small penalty if you pre-pay the mortgage in a short time. After all, making the loan isn't free for the bank. But as Nathan says, if a bank is planning to try very hard to stop you from giving them money, there is probably a reason. Try to convince your wife: there is nothing inherently wr... |
What assets would be valuable in a post-apocalyptic scenario? | This is a long term investment but can be very useful during tough times. Be prepared not only to take but to give as well. Moreover: |
Are there good investment options to pay off student loans? | What you're getting at is the same as investing with leverage. Usually this comes in the form in a margin account, which an investor uses to borrow money at a low interest rate, invest the money, and (hopefully!) beat the interest rate. is this approach unwise? That completely depends on how your investments perform a... |
Borrowing money for a semi-urgent medical expense | The best option would be to have the dental office allow you pay in installments. That would be probably the cheapest and most convenient way. When high amounts are involved - many medical offices are flexible with payments and allow spreading over long period of time, so you should check it out. Otherwise, credit card... |
Should I move my money market funds into bonds? | Your only real alternative is something like T-Bills via your broker or TreasuryDirect or short-term bond funds like the Vanguard Short-Term Investment-Grade Fund. The problem with this strategy is that these options are different animals than a money market. You're either going to subject yourself to principal risk o... |
Understanding the phrase “afford to lose” better | Well.... If you have alllll your money invested, and then there's a financial crisis, and there's a personal crisis at the same time (e.g. you lose your job) then you're in big trouble. You might not have enough money to cover your bills while you find a new job. You could lose your house, ruin your credit, or somethin... |
Cheapest way to “wire” money in an Australian bank account to a person in England, while I'm in Laos? | I successfully used Currency Fair a few times, they seem to cater for both Australia and the UK. If I remember correctly, you can set everything up via Internet. As they explain on their website, first you open an account with them, then you transfer AUD to an Australian bank account that they will give you, then you e... |
Basic mutual fund investment questions | In summary, you are correct that the goal of investing is to maximize returns, while paying low management fees. Index investing has become very popular because of the low fees. There are many actively traded mutual funds out there with very high management fees of 2.5% and up that do not beat the market. This begs ... |
At what point is it most advantageous to cease depositing into a 401k? | The only time to stop saving money for retirement is when you have enough money to retire tomorrow. Not all of your "retirement savings" need to be in a 401k, it is just better if you can. Be sure to get as much as you can from the employer matching program. Unfortunately some employer matching programs discourage you... |
What tax can I expect on US stocks in a UK ISA? | non-resident aliens to the US do not pay capital gains on US products. You pay tax in your home country if you have done a taxable event in your country. http://www.investopedia.com/ask/answers/06/nonusresidenttax.asp#axzz1mQDut9Ru but if you hold dividends, you are subject to US dividend tax. The UK-US treaty should t... |
Yahoo finance vs SEC filings fundamentals | Sure, Yahoo Finance makes mistakes from time to time. That's the nature of free data. However, I think the issue here is that yahoo is aggregating several line items into one. Like maybe reporting cash equivalents plus total investment securities minus loans as "cash equivalents." This aggregation is done by a compu... |
At what point is the contents of a trust considered to be the property of the beneficiary? | Both a trust and an estate are separate, legal, taxpaying entities, just like any individual. Income earned by the trust or estate property (e.g., rents collected from real estate) is income earned by the trust or the estate. Who is liable for taxes on income earned by a trust depends on who receives or retains benefit... |
What's the benefit of opening a Certificate of Deposit (CD) Account? | Yes. Savings accounts and CDs today pay almost nothing. They are not a way to grow your money for the future. They are a place to keep some spare cash for emergencies. I don't have such accounts any more. Personally, I generally keep about $2000 in my checking account for any sudden surprise expenses. Any other spare m... |
Is it bad etiquette to use a credit or debit card to pay for single figure amounts at the POS | I would like to offer a different perspective here. The standard fee for a credit card transaction is typically on the order of 30 cents + 2.5% of the amount (the actual numbers vary, but this is the ballpark). This makes small charges frequently unprofitable for small merchants. Because of this they will often have m... |
What is the difference between a bond and a debenture? | Investopedia has definitions for both: Debenture: A type of debt instrument that is not secured by physical asset or collateral. Bond: A debt investment in which an investor loans money to an entity (corporate or governmental) that borrows the funds for a defined period of time at a fixed interest rate. Wikipedia's ent... |
Highest market cap for a company from historical data | Adjustments can be for splits as well as for dividends. From Investopedia.com: Historical prices stored on some public websites, such as Yahoo! Finance, also adjust the past prices of the stock downward by the dividend amount. Thus, that could also be a possible factor in looking at the old prices. |
IRR vs. Interest Rates | IRR is not subjective, this is a response to @Laythesmack, to his remark that IRR is subjective. Not that I feel a need to defend my position, but rather, I'm going to explain his. My company offered stock at a 15% discount. We would have money withheld from pay, and twice per year buy at that discount. Coworkers said... |
Most common types of financial scams an individual investor should beware of? | If an offer "is only valid right now" and "if you don't act immediately, it will expire" that is almost always a scam. |
How should I think about stock dividends? | Dividends are actually a very stable portion of equity returns, the Great recession and Great Depression notwithstanding: However, dividends, with lower variance have lower returns. Most of the return is due to the more variant price: So while dividends fell by 25% during the worst drop since the Great Depression, ... |
UK Resident exploring freelance work for a Swiss Company | If the firm treats you as an employee then they are treated as having a place of business in the UK and therefore are obliged to operate PAYE on your behalf - this rule has applied to EU States since 2010 and the non-EU EEA members, including Switzerland, since 2012. If you are not an employee then your main options ar... |
How does a brokerage firm work? | The brokerage executes the transactions you tell them to make on your behalf. Other than acting as your agent for those, and maintaining your account, and charging a fee for the service, they have no involvement -- they do not attempt to predict optimal anything, or hold any assets themselves. |
Car finance (loan) insurance requirements (store car) | Okay, definitive answer for this particular company (Toyota Finance) is (somewhat surprisingly, and glad I asked) it must be fully insured at all times, including liability, even if being stored. I asked at a dealership and they answered "just fire and theft (of course)" but I ended up calling their finance department... |
Is it possible for US retail forex traders to trade exotic currencies? | You are in a difficult situation because of US regulation, that is much more demanding to fulfill than in EU or rest of the world. Second, Interactive Brokers stopped serving FX for US clients. Third, EU brokers - like Saxo Bank - don't accept US clients: Almost any private client can open an account with Saxo Bank, a... |
Responsible investing - just a marketing trick? | A share is just a part ownership of a company. If you buy a share of a green stock in the open market, you now just own part of a green company. Just like if you buy a house, the money you paid moves to the former owner, but what you are getting is a clear asset in return that you now own. Via mutual funds/indexes thi... |
For a car, would you pay cash, finance for 0.9% or lease for 0.9%? | While this question is old and I generally agree with the answers given I think there's another angle that needs a little illuminating: insurance. If you go with an 84 month loan your car will likely be worth less than the amount owed for substantially all of the entire 84 month loan period; this will be exacerbated if... |
Analyze a security using Benjamin Graham's Defensive Investor Criteria | Everything you are doing is fine. Here are a few practical notes in performing this analysis: Find all the primary filing information on EDGAR. For NYSE:MEI, you can use https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000065270&type=10-K&dateb=&owner=exclude&count=40 This is the original 10-K. To evalua... |
How to deal with IRS response of no action to 83(b) election? | I think you should consult a professional with experience in 83(b) election and dealing with the problems associated with that. The cost of the mistake can be huge, and you better make sure everything is done properly. For starters, I would look at the copy of the letter you sent to verify that you didn't write the yea... |
How to respond to a customer's demand for payment extension? | In the event that payment is not made by the due date on the invoice then the transaction is essentially null and void and you can sell the work to another client. For your particular situation I would strongly suggest that you implement a sales contract and agreement of original transfer of work of art for any and all... |
What are the reasons to get more than one credit card? | 1- To max out rewards. I have 5 different credit cards, one gives me 5% back on gas, another on groceries, another on Amazon, another at restaurants and another 2% on everything else. If I had only one card, I would be missing out on a lot of rewards. Of course, you have to remember to use the right card for the right ... |
Does Implied Volatilty factor in all known future events? | From every article I've encountered, the chicken and egg aspect suggests that IV is produced by looking at options pricing, and calculating the IV from that. The implication is that whatever is known at that time is included in the price. And that when you see a particular option trade an unusual number of contracts a... |
How can small children contribute to the “family economy”? | Similar to the lawn care you mentioned: if you have space, you could have the kids create a mini-farmstand. They could grow flowers for cutting, some vegetables, etc. It would be a different twist on the classic lemonade stand. If the kids are into animals and space and zoning allows, you could keep chickens and add eg... |
Tenant wants to pay rent with EFT | You can consider opening accounts either in Paypal or Google Wallet. In this way, you link your bank information to these accounts and the only information you need to provide your tenant is your e-mail id. Its safe and in this scenario -- just money transfer through bank account, there is no fee either for the sender ... |
Why are stocks having less institutional investors a “good thing”? | Institutional investors are the "elephant" in the room. When they "sneeze," everyone else "catches cold." They're fine, if they're buying after YOU do. They're not bad, if you want to buy after they sell en masse. But when you read about moves of 10 percent, 15 percent or more in a single day, it's because a bunch of i... |
SEP-IRA doing 1099 work on the side of a W2 employee job | The limit on SEP IRA is 25%, not 20%. If you're self-employed (filing on Schedule C), then it's taken on net earning, which in your example would be 25% of $90,000. (https://www.irs.gov/retirement-plans/retirement-plans-for-self-employed-people) JoeTaxpayer is correct as regards the 401(k) limits. The elective deferr... |
I'm only spending roughly half of what I earn; should I spend more? | Goodness, I wish I could put away half my paycheck. Not to rain on your parade, but a 6-month emergency fund is not quite "very good." It is the typical starting time frame. Personally, I would feel more comfortable with a 2+ year fund. That is a bit extreme, but only because many of us can barely seem to make it ar... |
Double-entry bookkeeping: When selling an asset, does the money come from, Equity or Income? | There are basically two approaches, based on how detailed you want to be in your own personal accounting: Obviously the more like a business or like "real" accounting you want to be, the more complex you can make it, but in general I find that the purpose of personal accounting is (1) to track what I own, and (2) to en... |
ISA trading account options for US citizens living in the UK | This sounds like a FATCA issue. I will attempt to explain, but please confirm with your own research, as I am not a FATCA expert. If a foreign institution has made a policy decision not to accept US customers because of the Foreign Financial Institution (FFI) obligations under FATCA, then that will of course exclude y... |
Can value from labor provided to oneself be taxed? | I've heard of handyman type people making a living this way untaxed. They move into a fixer-upper, fix it up while living there, stay over two years and sell. They can pocket $125k/yr tax free this way assuming they produce that much value in their fixing-up. (Beware, though, that this will bite you in low social se... |
What is a call spread and how does it work? | A bullish (or 'long') call spread is actually two separate option trades. The A/B notation is, respectively, the strike price of each trade. The first 'leg' of the strategy, corresponding to B, is the sale of a call option at a strike price of B (in this case $165). The proceeds from this sale, after transaction cost... |
Formula that predicts whether one is better off investing or paying down debt | Old question I know, but I have some thoughts to share. Your title and question say two different things. "Better off" should mean maximizing your ex-ante utility. Most of your question seems to describe maximizing your expected return, as do the simulation exercises here. Those are two different things because risk... |
Should I pay off my credit card online immediately or wait for the bill? | It probably doesn't matter since your credit and your checking are at the same institution, but I don't like to let my credit auto draft my checking. I always do it the other way around (and keep them at different places) I feel like there is more control when my money is gone that way. |
Is 401k as good as it sounds given the way it is taxed? | Don't forget inflation. With a Roth 401k (or IRA), you don't pay any taxes on inflationary or real gains. You pay taxes at the beginning and then no more taxes (unless you invest money after you distributed from it). With a regular, taxable investment account (not a 401k or IRA), you pay taxes on the initial amoun... |
What's a good personal finance management web app that I can use in Canada? | CashBase has a web app, an iPhone app and an Android app, all sync'ed up. It doesn't integrate with banks automatically, but you can import bank statements as CSV. Disclosure: Filip is CashBase's founder. |
What would I miss out on by self insuring my car? | You're trading a fixed liability for an unknown liability. When I graduated from college, I bought a nice used car. Two days later, a deer came out of nowhere, and I hit it going 70 mph on a highway. The damage? $4,500. If I didn't have comprehensive insurance, that would have been a real hit to me financially. For me,... |
How to transfer money to yourself internationally? | Hmmm... As far as I know wire transfers are still the best option. If you make sure your US account accepts international wires for free (like TD Bank does) you'll have eliminated most of the costs (assuming your foreign bank doesn't charge too much for wiring the funds in the first place). Also, if your able to, you c... |
Can an F1 student working on OPT with a STEM extension earn unrelated self employed income from a foreign employer? | From tax perspective, any income you earn for services performed while you're in the US is US-sourced. The location of the person paying you is of no consequence. From immigration law perspective, you cannot work for anyone other than your employer as listed on your I-20. So freelancing would be in violation of your vi... |
What are the benefits of opening an IRA in an unstable/uncertain economy? | Even Gold lost 1/2 of it's value between 1980 and 2000. You would not have fared well if you retired during that period heavily invested in Gold. http://www.usagold.com/reference/prices/history.html You said yourself that one can not foresee what the future will bring. At least IRA's force you to into dollar cost ave... |
How much is university projected to cost in Canada in 18 years? | Here's a great Canadian college/university cost calculator I used; found at Canadian Business - they say: Our tool is divided into three easy steps. First, calculate the tuition cost for the university and faculty you wish to attend. Then, calculate any additional fees for residence (on campus student housing... |
Why is there inconsistent returns difference between direct and regular Mutual Funds? | If this is the case, then shouldn't the difference between their annualized returns be same year on year? In general yes, however there difference has a compounding effect. i.e. if the difference if 5% first year, this money is invested and it would generate more of the said returns. However in reality as the corpus si... |
How do you invest in real estate without using money? | There is (almost) always money involved somewhere, but it doesn't have to come from you. It can be investors, credit cards, or even seller-financing (I've done all 3). Examples: If you can find partners with the money to make the deals happen, then your job is to put the deal together. Find the properties, negotiate ... |
Online Foreign Exchange Brokerages: Which ones are good & reputable for smaller trades? | I used Oanda.com for Forex trading a couple years ago. I am in the US but I think it's available in the UK as well. At the time, they had no commissions and their spreads were comparable or better than other brokers. The spreads would just quite considerably when a big event like a Fed meeting or the unemployment figur... |
Minimizing loss during two-way currency transfers involving foreign entities | The solution was to get a foreign bank in each country we do business in. Get a credit card processor there, and simply make our money and keep our money in that country, and taking quarterly gains from those accounts and bringing them to the US account. |
What's the difference between Buy and Sell price on the stock exchange [duplicate] | This is copying my own answer to another question, but this is definitely relevant for you: A bid is an offer to buy something on an order book, so for example you may post an offer to buy one share, at $5. An ask is an offer to sell something on an order book, at a set price. For example you may post an offer to sell ... |
Priced out of London property market. What are my accommodation investment options? | NB - I live in Surrey and bought my house in January 2014. If you don't have a very social life, it does pay to stay outside London. Places outside London are cheap and you will get a better deal in relation to houses or flats as compared to London. I feel very priced out of the market regarding London mortgages I will... |
Buying and selling the same stock | Unfortunately, we don't know your country, but I'd guess "Not US" with the hint being your use of the word bugger in a comment. Realized profits are taxed by all tax authorities I'm aware of, i.e. the Tax Man in every country. Annually, so that you can let the profits run during the year, and offset by the losses duri... |
How do I get a Tax Exemption Certificate for export from the US if I am in another country? | Depends on the state, in Texas you should charge sales tax because the shipment is going to a freight forwarder in Texas. That being said, once you have the bill of lading you can have your tax credited by the vendor. It is one of the documents the state will except in lieu of sales tax for exports. There are five. ... |
Co- Signed car loan and need to have the other signer relinquish claim to ownership | The key here is the bank, they hold the title to the car and as such have the final say in things. The best thing you can do is to pay off the loan. Could you work like crazy and pay off the car in 6 months to a year? The next best thing would be to sell the car. You will probably have to cover the depreciation out o... |
How does spot-futures arbitrage work in the gold market? | As proposed: Buy 100 oz of gold at $1240 spot = -$124,000 Sell 1 Aug 2014 Future for $1256 = $125,600 Profit $1,600 Alternative Risk-Free Investment: 1 year CD @ 1% would earn $1240 on $124,000 investment. Rate from ads on www.bankrate.com "Real" Profit All you are really being paid for this trade is the difference bet... |
As a 22-year-old, how risky should I be with my 401(k) investments? | At 50 years old, and a dozen years or so from retirement, I am close to 100% in equities in my retirement accounts. Most financial planners would say this is way too risky, which sort of addresses your question. I seek high return rather than protection of principal. If I was you at 22, I would mainly look at high r... |
How can I help my friend change his saving habits? | Get him the book "Total Money Makeover" (http://www.amazon.com/Total-Money-Makeover-Classic-Financial/dp/1595555277/ref=sr_1_1?ie=UTF8&qid=1448904191&sr=8-1&keywords=total+money+makeover) and tell him to follow the baby steps. If he comes to you again or doesn't follow your advice, remind him to follow the baby steps. ... |
Advice on strategy for when to sell | Consider trailing stop losses maybe 5% below your profit target, if you want a simplistic answer. |
Why do people buy new cars they can not afford? | The car you dream of might not be available in your local used car market. Or if it is, there might be something wrong with it. Here are some reasons that a person might want to buy a new car. Basically, if you have a picture in your mind of what your next car should look like, it is easier to shop for a new car: New... |
How best to grow my small amount of money starting at a young age? [duplicate] | I would like to add my accolades in saving $3000, it is an accomplishment that the majority of US households are unable to achieve. source While it is something, in some ways it is hardly anything. Working part time at a entry level job will earn you almost three times this amount per year, and with the same job you c... |
Do my parents need to pay me minimum wage? | There is actually a restriction on how high a wage they can pay you. There didn't use to be, but now it has to be reasonable for the work you are doing, so they can't pay you $100/hr while other people doing the same work get minimum wage. You might ask why on earth a parent would want to pay a child way more than they... |
Can a company charge you for services never requested or received? | No. A company cannot bill you for services you did not request nor receive. If they could, imagine how many people would just randomly get bills in their mail. Ignore them. They don't have a contract or agreement with you and can't do anything other than make noise. If they get aggressive or don't stop requesting money... |
How much life insurance do I need? | If I remember the information in "The Wealthy Barber" correctly, he said: And as someone once said to me, "make sure you're worth more alive than dead!" :-) |
Beginner questions about stock market | If I bought 1 percent share of company X, Most countries company X, is treated as a separate legal entity than individual. So max loss is what you have invested. However certain types of companies, generally called partnerships are not separate entities and you have to pay back the said loss. However such companies are... |
Executing a stop loss at the purchase price? | You will lose out on your spread, you always pay a spread. Also, if you are looking at a strategy for using stop losses, try taking into account the support lines if you are going long. So, if the stock is on an upward trend but is dropping back from profit taking, your best best is to take a position closest to the ne... |
Owning REIT vs owning real estate - which has a better hypothetical ROI? | Your question may have another clue. You are bullish regarding the real estate market. Is that for your city, your state, your nation or for the whole world? Unless you can identify particular properties or neighborhoods that are expected to be better than the average return for your expected bull market in real estat... |
Personal Banking using accrual method | You would add your daily earnings every day. For example, you work full time job (8 hours a day) at $20/hour. At the end of the 1st day of the month, you'd add $160 to your salary account. You've earned it, even though its still almost a month till you actually get paid. So its accrued. What if you don't get paid? You'... |
Deducting business expenses paid for by gift card | To quote the answer you linked to: Perhaps the simplest way to think about this is you can only deduct an expense that you actually incur. In other words, the expense should show up on a bank or CC statement. So, if your business purchased the $1000 gift card for $800, you should see a $800 charge appearing on a busine... |
Is there any benefit to investing in an index fund? | Index funds may invest either in index components directly or in other instruments (like ETFs, index options, futures, etc.) which are highly correlated with the index. The specific fund prospectus or description on any decent financial site should contain these details. Index funds are not actively managed, but that ... |
Which graduate student loans are preferable? | All new loans must be originated from the direct loan program. In most cases, the Stafford loan is better, as the rate is lower (6.8% vs. 7.9% for the PLUS loan). There aren't many viable alternatives for most people. Private student loans exist, but carry significantly higher rates and worse payment terms. The except... |
Car financed at 24.90% — what can I do? | If you are a subprime borrower, that may not be an unreasonable rate given the risk they are accepting. In any case, it's what you agreed to. As others have said, you could/should have shopped elsewhere for the loan. In fact, you can still shop elsewhere for a loan to refinance that vehicle and thus lower the rate, unl... |
Requirements for filing business taxes? | While she can certainly get an LLC or EIN, it isn't necessarily required or needed. She can file as a sole-proprietor on her (or your joint) taxes by filling out a schedule-C addition to the 1040. Any income or losses will pass through to your existing income situation (from W-2's and such). The general requirement f... |
Refinancing a vehicle, longer term with extra in the kitty, or shorter term and just make scheduled payment? | It really depends on the answers to two questions: 1) How tight is your budget going to be if you have to make that $530 payment every month? Obviously, you'd still be better off than you are now, since that's still $30 cheaper. But, if you're living essentially paycheck to paycheck, then the extra flexibility of the ... |
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