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Can I open a bank account in the US remotely? Will I pay taxes for the money on it? | Answering for US tax only: The bank account makes absolutely zero difference. If you are not a US national and not resident in the US, but earn income from a US employer/client/customer, generally that income is not subject to US tax (no matter where it is banked). However there are (complicated) exceptions, particula... |
What will happen when a bid price is higher than an ask price? | The situation you're proposing is an over-simplification that wouldn't occur in practice. Orders occur in a sequence over time. Time is an important part of the order matching process. Orders are not processed in parallel; otherwise, the problem of fairness, already heavily regulated, would become even more complex. Fi... |
Ways to trade the Euro debt crisis | Short the Pound and other English financial items. Because the English economy is tied to the EU, it will be hit as well. You might prefer this over Euro denominated investments, since it's not exactly clear who your counterpart is if the Euro really crashes hard. Meaning suppose you have a short position Euro's ver... |
How do I analyse moving averages? | Moving Average is mere average line based on historical period; broadly use to view the trend. But it has no relation to price action in due future course. If price is going below 20 SMA then in near future even the SMA will start directing toward south. In your case if price has fallen below all the short period avera... |
How can I tell if this internet sales manager is telling me the real “true cost” of a new car to the dealer | Consumer Reports offers a service that can tell you detailed actual cost to a dealer for a specific model and accessories -- real cost after rebates, not just invoice price. It costs a bit to order these reports, but if you are serious about buying a new car they are a highly recommended tool -- cu is independent and w... |
How to find cheaper alternatives to a traditional home telephone line? | How low you can reduce your costs does depend on your calling pattern. How many minutes per month you call locally; call long distance; call internationally; and how many minutes you receive calls for. If all these figures are low, you can be better off with a pay-per-minute service, if any of the outbound figures ar... |
What options do I have at 26 years old, with 1.2 million USD? | Wow, everyone tells you different investment strategies. You have all your life ahead of you. Your main focus should not be getting the best return rate, but ensuring your existence. Who cares if you get 7% if you'll lose all in the next market crash and stand on the street with no education, no job and nothing to fall... |
How can I live outside of the rat race of American life with 300k? | An endowment is a large chunk of capital (i.e. money) held by a university or other nonprofit. It is meant to hold its value forever against inflation, and invested to generate income: from interest, dividends and appreciation. They seem like a contradiction: closely scrutinized by Boards of Directors, managed to a... |
Do company-provided meals need to be claimed on my taxes? | I believe there is an overtime meal allowance. That is, if an employee works "overtime" (defined as 7:00 p.m. for a 9:00 start, or ten-plus hours after the shift starts), the company can provide a non-taxable meal free of charge, or give a "reasonable" allowance ($15-$20) that must be spent outside on a meal (no drinks... |
Gap in domestic Health Insurance coverage, expect higher premiums? | I bought Health Insurance for myself after a period without it, and my premiums were not terrible. I was a 27 year old man, living in California, no preexisting conditions, and I paid approximately 90$ a month. This was for a standard Health Insurance plan. However, when I moved back to NY a little while later, insura... |
Where are open-end funds traded? | Close-end funds just means there's a fixed number of shares available, so if you want to buy some you must purchase from other existing owners, typically through an exchange. Open-end funds mean the company providing the shares is still selling them, so you can buy them directly from the company. Some can also be trad... |
What are good games to play to teach young children about saving money? | I found this great resource at MarketWatch.com - a listing on online games that help parents teach kids about saving and finance, set up by age group. Here's an example of some of the content: For children six to nine: www.fleetkids.com, sponsored by the Fleet Bank, has great games -- like "Buy lo, Sell hi" and "Chunka... |
Mortgage or not? | A primary residence can be an admirable investment/retirement vehicle for a number of reasons. The tax savings on the mortgage are negligible compared to these. A $200,000 mortgage might result in a $2000 annual savings on your taxes -- but a $350,000 house might easily appreciate $20,000 (tax free!) in a good year. S... |
Is there a candlestick pattern that guarantees any kind of future profit? | By definition, there are no guaranteed profits. There are sometimes arbitrage opportunities, which are more accessible to some investors than others. In this case, I'm not referring to HFT as that is covered elsewhere on this site already. At certain times, in certain equity markets, candlestick charts were used for p... |
Alternatives to Intuit's PayTrust service for online bill viewing and bill payment? | Something you may want to consider if you are still choosing a bill-paying service is the contingency policies of the service. I just suffered an extended stay in a hospital and my officially (in writing) designated Power of Attorney was NOT granted access to my PAYTRUST account. Thus they could NOT take care of my ... |
Why did I lose 2 cents more than the difference in the stock prices on my Robinhood trade? | Free, huh? From their Commission and Fee Schedule: So if you literally bought two shares, then the SEC added one penny in fees and FINRA added one penny as a "Trading Activity Fee" Note that there are several other fees on their schedule that may not apply to you. If you had bought 100 shares instead, your total fees ... |
Can a merchant charge you more in the US if you want to use a credit card? | I'm not sure about the laws in specific states. However it's part of their merchant agreement that they can not charge a fee for a customer paying with credit card. It's also against merchant agreements to require a minimum purchase to use a credit card, although this is less commonly enforced. Apparently (http://fso.c... |
Why invest in IRA while a low-cost index fund is much simpler? | The advantage of an IRA (or 401k) is you get taxed effectively one time on your income, whereas you get taxed effectively multiple times on some of the money in a taxable account. You have to consider it from the perspective of time value of money -- the concept that an amount of money now is the same value as a greate... |
Why do some online stores not ask for the 3-digit code on the back of my credit card? | @Jeremy Using CVV doesn't decrease the transaction cost. I know this because I have quotes for CC transactions and the cost/transaction doesn't depend on using CVV. That said we don't plan to use CVV because we sell insurance and the likelihood that someone who steals CC will buy insurance is very low. |
How much is university projected to cost in Canada in 18 years? | For a Canadian university education, an October 2009 article at Canada.com says: [...] The study estimates the total price tag of an undergraduate degree at a whopping $137,013 for students living away from home and $101,426 for those staying at home. [...] |
Stock exchanges using open outcry | As Chris pointed out in his comment, smaller stock exchanges may use open outcry. There are several exchanges that use open outcry/floor trading in the US, however, although they aren't necessarily stock exchanges. Having visited the three Chicago exchanges I mentioned, I can personally vouch for their continued use o... |
Where can I find all public companies' information? | Moody's is now Mergent Online. It's no longer being printed, and must be accessed digitally. In order to browse the database, check with your local public library or university to see if you can get access. (A University will probably require you to visit for access). Another good tool is Value Line Reports. They are ... |
Cash out 401k for house downpayment | As @AlexKuhl says, ever? yes, but generally? no. If your 401k is invested in stocks and bonds, the long term return is very likely higher than the interest on a mortgage. Long term return on the stock market is around 7%. Mortgage rates these days are around 4%. Add the tax penalty on top of that and you're almost sure... |
How can I get the car refinanced under my name if my girlfriend signed for the loan? | Your best bet would be to add your name to the title through the bank or have her sell it to you for the amount she owes then you get a loan for that amount like they said before. If you guys split up at this point she'll legally get to keep the car you've been paying for. You could apply for a new loan and have her co... |
When does it make financial sense to take advantage of employer's tuition reimbursement program? | If you have decided to do the degree, and are simply deciding whether to accept employer funding for it or not, take the funding. I see no difference between "my employer doesn't pay my tuition" and "my employer paid my tuition but I had to pay it back because I moved on". Therefore there is no downside to letting them... |
What are good games to play to teach young children about saving money? | I've found that good old fashioned "Monopoly" teaches children about cash flow, mortgaging properties, and paying income taxes. |
Can I transfer money from a personal pension to a SIPP, while leaving the original pension open? | Yes it's entirely possible; see below. If you can't find anything on transfers out (partial or otherwise) on anyone's site it's because they don't want to give anyone ideas. I have successfully done exactly what you're proposing earlier this year, transferring most of the value from my employer's group personal pensio... |
What is a reasonable salary for the owner and sole member of a small S-Corp? | You can get audited for anything Business owners are more likely to get audited than people filing 1040-EZ's for their simplistic income tax obligation. According to HR Block I hope you enjoy the process where you explain the source of your earnings |
If a put seller closes early, what happens to the buyer? | You're assuming options traded on the open market. To close open positions, a seller buys them back on the open market. If there's little on offer, this will drive the price up. |
Is technical analysis based on some underlying factors in the market or do they work simply because other people use them? | Technical analysis is based more on psychology than anything else. As an example, if an analyst estimates or believes that a stock is undervalued, or simply wants to re-balance their portfolio, then they will buy some amount, moving the price up. Others in the market see the upwards move as the start of an upwards tren... |
Growth rate plus dividend yieid total? | Avoiding the complexities of tax [dividends likely taxed the year they are received, barring special tax accounts which many countries implement in for example, locked-in retirement type accounts; share growth is likely only taxed when sold / on death / on expatriation / similar], and assuming you reinvest the dividend... |
What happens if a Financial Services Company/Stockbroker goes into administration in the UK? | Although I posted this question more than a year ago, I subsequently read information which may be of use as an answer, specifically regarding Pritchard Stockbrokers in the UK several years ago, in which the FSCS stepped in to compensate investors, as detailed in the following: http://www.fscs.org.uk/what-we-cover/ques... |
Why is property investment good if properties de-valuate over time? | nan |
What one bit of financial advice do you wish you could've given yourself five years ago? | (more like 10 years ago, but that's beside the point) Save, save, save! Both in the notion of squeezing as much value as you can out of every purchase and the notion of putting money away in a savings account. |
Investment strategy for 401k when rolling over soon | You will be rolling over the proceeds, since you can only deposit cash into an IRA. However, this should probably not affect your considerations much since the pre-rollover sale is non-taxable within the 401k and the period of roll-over itself (when the cash is uninvested) is relatively short. So, whatever investments ... |
What are the best software tools for personal finance? | For any android device you can try: Daily Expense Manager - to track your expenses and a host of other apps to suit your specific needs. |
I'm an American in my mid 20's. Is there something I should be doing to secure myself financially? | I may be walking on thin ice but that's never stopped me from answering before. ;) I have a PhD in physics. I knew that I wasn't a die-hard publisher so I didn't pursue academia. A postdoc will likely pay about what a person with a BS in math could make in industry, but you're now a few years past that age. You'll be... |
What are the possible metrics for evaluating annual performance of a portfolio? | The Investopedia article you linked to is a good start. Its key takeaway is that you should always consider risk-adjusted return when evaluating your portfolio. In general, investors seeking a higher level of return must face a higher likelihood of taking a loss (risk). Different types of stocks (large vs small; intern... |
Why does selling and then rebuying stock not lead to free money? | I think the simple answer to your question is: Yes, when you sell, that drives down the price. But it's not like you sell, and THEN the price goes down. The price goes down when you sell. You get the lower price. Others have discussed the mechanics of this, but I think the relevant point for your question is that when... |
Is there a difference between managerial accounting and financial accounting? | From Wikipedia: Managerial accounting is used primarily by those within a company or organization. Reports can be generated for any period of time such as daily, weekly or monthly. Reports are considered to be "future looking" and have forecasting value to those within the company.** Financial accounting is used ... |
Advantages of Shareholder over Director in new Company | I know the general principles of acting as a director in a company, and am familiar with the rights of shareholders. In the last ten years or so, I believe Australia has introduced legislation that strongly punishes those directors who do not act in a professional or prudent manner. While I will of course attempt to fu... |
What is the purpose of the wash sale rule? | In a comment on this answer you asked It's not clear to me why the ability to defer the gains would matter (since you never materially benefit until you actually sell) but the estate step up in basis is a great point! Could you describe a hypothetical exploitive scenario (utilizing a wash sale) in a little more detail... |
How can I withdraw money from my LLC? | Generally, unless you explicitly elect otherwise, LLCs are transparent when it comes to taxes. So the money in the LLC is your money for tax purposes, there's no need to pay yourself a salary. In fact, the concept of salary for LLC members doesn't exist at all. It is either distributions or guaranteed payments (and eve... |
Treatment of web domain ownership & reselling for tax purposes: Capital asset, or not? | I must say that this is a question that you should hire a professional tax adviser (EA/CPA licensed in your State) to answer. It is way above our amateurs' pay-grade. That said, I'll tell you what I personally think on the issue. I'm not a licensed tax adviser, and nothing that I write here can be used in any way as a ... |
Freelancing and getting taxes taken out up front instead of end of year? | It seems that you think you are freelancing, and they think you are an employee. What's bad for you, the tax office will also think you are an employee if they withhold tax for you. Alternatively, they think you are stupid, and they keep the money, but are actually not paying it to the tax office at all, in which case ... |
Buying from an aggressive salesperson | He sounds like a very bad salesman and I should know, because I was a sales manager at a bike shop which sold bikes from $200 to $10k. Now I had a clear goal, which is to sell as many bikes at the highest price possible, but I didn't do that by making customers uncomfortable. Each customer received different treatment ... |
Shared groceries expenses between roommates to be divided as per specific consumption ratio and attendance | For a personal finance forum, this is too complicated for sustained use and you should find a simpler solution. For a mathematical exercise, you are missing information required to do the split fairly. You have to know who overlaps and when to know how to do the splits. For an extreme example, take your dates given:... |
Live in Oregon and work in Washington: Do I need to file Oregon state taxes? | Unfortunately, you are required, but most states do have agreements with neighboring states that let the states share the collected taxes without the person having to pay double taxes. So being as this is your first tax return in your current situation, you might be wise to have a professional fill it out for you this ... |
Creating S-Corp: Should I Name My Wife as a Director/Shareholder? | If you're creating an S-Corp for consulting services that you personally are going to provide, what would it give her to have 50% of the corporation when you're dead? Not to mention that you can just add it to your will that the corporation stock will go to her, and it will be much better (IMHO, talk to a professional)... |
Do I need to invest to become millionaire? | You're ignoring inflation. Even if we assume the ECB sticks to its 2% inflation target, and your salary only rises in line with inflation, you will be saving considerably more in forty years' time than you are today. In fact, an interest rate of 2% and an inflation rate of 2% make the sums exceptionally easy. You need... |
Why would you ever turn down a raise in salary? | I had a colleague turn down a raise once because he believed that female colleagues were already being paid well below his salary and it was unfair to further increase this gap. For very public figures raises are often declined as a form of leadership: showing that management is willing to forgo bonuses and salary incr... |
Online tools for monitoring my portfolio gains/losses in real time? | I use Google Finance too. The only thing I have problem with is dividend info which it wouldn't automatically add to my portfolio. At the same time, I think that's a lot to ask for a free web site tool. So when dividend comes, I manually "deposit" the dividend payment by updating the cash amount. If the dividend comes ... |
On paper I have 1 share in my company. How can I sell a smaller percentage of my company to another party? | You actually have a few options. First, you can do a share split and then sell an equal number of shares from both you and your wife to maintain parity. Second, you can have the company issue additional shares/convert shares and then have the company sell the appropriate percentage to the third party while the rest is ... |
Am I doing the math for this covered call/long put strategy correctly? What risks do I run with this strategy? | FYI: GM has an earnings announcement on April 24th. I think you were trying to create a safe trade by profiting if GM's price fell within a probable range. The chart of the Iron Condor captures just about a standard deviation of movement. So as long as GM is between 31.28 - 37.22 in 34 days you keep the max profit o... |
Entering the stock market in a poor economy | If you have a long enough time horizon, investing in the stock market while in a bad economy can turn out to be a very smart decision. If you need access to your capital in the short-term, 1-2 years, then it is probably a bad decision. If you have the ability to ride out the next few years, then you may be buying secur... |
How to get a down payment for your next home? Use current home as the down payment on the new one? | This is of course a perfectly normal thing to happen. People trade up to a bigger house every day. When you've found a bigger house you want to move to and a buyer for your existing one, you arrange 'closing dates' for both i.e. the date on which the sale actually happens. Usually you make them very close, either on th... |
My university has tranfered me money by mistake, and wants me to transfer it back | Confirming whether the payment was an error The simplest method is to confirm manually with the University whether the payment was a mistake and satisfy that between yourselves. If you're concerned it's fraudulant, I recommend calling the University finance office on a phone number you find on their website, or call on... |
Have my parents been bilked? If so, what to do? | If they made deposits 20 years ago, and none since, the S&P is up over 300% since then. i.e. a return of $40,000 on $10,000 invested. We wouldn't expect to see that full return, as a prudent mix of stock and bonds (or any treasury bills/CDs, etc) would lower the overall return during this period. Advice "Transfer the ... |
If there's no volume discount, does buying in bulk still make sense? | There is a trade-off. It can be worthwhile because you save those extra trips. (On the other hand, don't you need to go shopping all the time for perishable items anyway?) On the other hand, having those items on stock implies inventory costs (the space they take up might be limited, the money they represent is sleepin... |
How is my employer affected if I have expensive claims on my group health insurance? | Your employers insurance premiums will definitely go up if there are a lot of claims when it is time for them to renew their policy. It is also possible that if this happens the employer will pass along some of the additional cost to employees. The insurance company will not try to have you removed, it doesn't work tha... |
What to consider before buying (exercising) a family member's private company employee stock options, about to expire? | First, you mentioned your brother-in-law has "$100,000 in stock options (fully vested)". Do you mean his exercise cost would be $100,000, i.e. what he'd need to pay to buy the shares? If so, then what might be the estimated value of the shares acquired? Options having vested doesn't necessarily mean they possess value,... |
Are solar cell panels and wind mills worth the money? | Solar water heaters are definitely questionable in the Northeast -- the season when you most need them is also the season when they are least effective. Solar electric isn't a huge moneymaker, but with rebates on installation and carbon-reduction credits (SRECs) -- and a group purchase discount if you can get one, eith... |
Why invest for the long-term rather than buy and sell for quick, big gains? | Plenty of good answers here, but probably the best answer is that The Market relies on suckers...er...investors like you. The money has to come from somewhere, it might as well be you. So-called "day traders" or "short-term investors" are a huge part of the market, and they perform a vital function: they provide capi... |
Automatic transaction on credit card to stay active | Put one of your monthly bills on it. (Utility bill, Netflix, monthly donation to charity, etc.) I have several automatic, recurring monthly charges on my credit card. If you don't have any current monthly bills that you want to switch, contact the Red Cross, or a charity of your choice. They would be very happy to cha... |
What is S/P in “Tax Deduction S/P”? | From reading the manual, SP means summary punching. Summary punching is the automatic preparation of one total card to replace a group of detail cards. |
What can I replace Microsoft Money with, now that MS has abandoned it? | Uh, Quicken is virtually identical to MS Money. If you liked money and don't want to change, use that. |
Is there any way to buy a new car directly from Toyota without going through a dealership? | If there's one reasonably close to you, you could go to a no-haggle dealership. Instead of making you haggle the price downward, they just give a theoretically fixed price that's roughly what the average customer could negotiate down to at a conventional dealer. Then just do your best broken record impression if they... |
Would every FX currency pair or public stock that is under the 30 level using Relative Strength Index (RSI) be an undervalued pair? | No. The long-term valuation of currencies has to do with Purchasing Power Parity. The long-term valuation of stocks has to do with revenues, expenses, market sizes, growth rates, and interest rates. In the short term, currency and stock prices change for many reasons, including interest rate changes, demand for goods ... |
logistical details of interest and dividend payments on assets traded on the secondary market? | To Many question and they are all treated differently. I was wondering how the logistics of interest and dividend payments are handled on assets , such as mortgages, bonds, stocks, What if the owner is some high-frequency algorithm that buys and sells bonds and stocks in fractions of a second? When the company decide... |
Why does FlagStar Bank harass you about payments within grace period? | One option is to try to get a month ahead on your mortgage payments. Rather than using the current month's rent to pay the current month's mortgage payments, try to use the previous month's rent to pay the current month's mortgage payments. This should allow you to pay on time rather than late but not unacceptably la... |
What are some good, easy to use personal finance software? [UK] | 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. Disclaimer: I'm CashBase's founder. |
Taking Losses To Save On Tax | As Dilip said, if you want actual concrete, based in tax law, answers, please add the country (and if applicable, state) where you pay income tax. Also, knowing what tax bracket you're in would help as well, although I certainly understand if you're not comfortable sharing that. So, assuming the US... If you're in the ... |
Should I deduct or capitalize the cost to replace a water heater in my rental property? (details Below) | You may be able to choose. As a small business, you can expense certain depreciable assets (section 179). But by choosing to depreciate the asset, you are also increasing the cost-basis of the property. Are you planning to sell the property in the next couple of years? Do you need a higher basis? Section 179 - Elec... |
What are the best software tools for personal finance? | Excel Pros: Cons: |
How should I file my taxes as a contractor? | For tax purposes you will need to file as an employee (T4 slips and tax withheld automatically), but also as an entrepreneur. I had the same situation myself last year. Employee and self-employed is a publication from Revenue Canada that will help you. You need to fill out the statement of business activity form and ke... |
Transferring money between two banks | The US (in fact the global) banking industry is subject to Anti-Money Laundering & Counter-Terrorism funding laws, slowing down funds transfer eliminates a great deal of fraud. |
What's the benefit of opening a Certificate of Deposit (CD) Account? | Others have pointed out why one typically chooses a CD: to lock in an interest rate that's higher than most other savings accounts (at the expense of having quick access to your money). While most savings accounts have practically 0% return, there are high yield savings accounts out there with little to no strings that... |
How are mortgage interest rates determined? | Mortgage or other interest rates are determined by the banks on cost of funds, risk and operating cost. The Fed raises money from the markets by issuing Tresury Bonds at a specified rate. This rate at which it raises money varies depening on the economy. Thus there are 2 rates: the rate at which banks can borrow mone... |
How to prevent myself from buying things I don't want | Long ago, a friend of mine shared with me the "Lakshmi rule" which can be used for managing one's spending: 1/3rd: Save, 1/3rd: Donate, 1/3rd: Survival. Survival refers to primary needs like food, clothing, shelter, medicine, family and priority needs like travel. The word "Lakshmi" comes from the Sanskrit language an... |
When amending a tax return to include a futures loss carry back, are you not allowed to include a Schedule C? | Is it true that you cannot amend a tax return to include both a futures loss carry back and a Schedule C at the same time? No, it is not true. You can include all the changes necessary in a single amended return, attaching statement explaining each of the changes. However you're talking about two different kinds of c... |
If something is coming into my account will it be debit or credit in my account? | It sounds like you're mixing a simple checkbook register with double-entry bookkeeping. Do you need a double-entry level of rigor? Otherwise, why not have two columns, one for income (like a paycheck) and one for expenses (like paying a cable bill)? Then add up both columns and then take the difference of the sums to ... |
Non-EU student, living in Germany, working for a Swiss company - taxes? | I'll assume that you would work as a regular (part-time) employee. In this case, you are technically a Grenzgänger. You will need a specific kind of Swiss permit ("Grenzgängerbewilligung") allowing you to work in Switzerland. Your employer typically takes care of this - they have more experience than you. You being non... |
When should I walk away from my mortgage? | Very few people's credit is worth $100,000. The average homeowner's credit (family of four with good to very good credit) is worth about $30,000. This is a pure business decision. The bank knew the law when they extended the mortgage to you, and part of the amount they're charging you goes to cover the risk that you mi... |
Mortgage loan and move money to US | Let me restate question for clarity. Facts: Question: Are there any taxes for this transaction? Answer: (Added improvements provided by Eric) Generally No. Generally, it is not considered income until you sell and the sale price is greater than the purchase price. But with currency differences, there is an additional c... |
why do I need an emergency fund if I already have investments? | Let me first start by defining an emergency fund. This is money which is: Because emergency's usually need to be deal with ASAP, boiler breaks, gears box in a car. Generally you need these to be solved as soon as possible, because ou depend on these things working and you can't budget for this type of expenditure using... |
Should I buy a house or am I making silly assumptions that I can afford it? | A common rule of thumb is the 28/36 ratio. It's described here. In your case, with a gross (?) salary of £50,000, that means that you should spend no more than 28% of it, or £1,167 per month on housing. You may be able to swing a bit more because you have no debts and a modest amount in your savings. The 36% part comes... |
Which U.S. online discount broker is the best value for money? | I am very happy with Charles Schwab. I use both their investing tools and banking tool, but I don't do much investing besides buy more shares a random mutual fund I purchase 4 years ago I did once need to call in about an IRA rollover and I got a person on the phone immediately who answered my questions and followed u... |
Why do some people say a house “not an investment”? | I think the claim is that you shouldn't buy a house expecting it to increase in value as you would a stock portfolio. OTOH if you are looking at it from the stand point of "I need housing, mortgage payments and rent are comparable and I build equity if I buy a house rather then rent" that's potentiality a very differen... |
How much hassle is it inheriting shares? | If you prefer the stock rather than cash, you might find it easier to take the cash, report it, and then buy the same stock from within your own country. |
Should I keep most of my banking, credit, and investment accounts at the same bank? | I've had all my account with the same bank for all my life. Generally, the disadvantage is that if I want some kind of product like a credit extension or a mortgage, I have the one bank to go to and if they don't want to help me I'm out of luck. However, occasionally there are also perks like the bank spontaneously off... |
Ideal investments for a recent college grad with very high risk tolerance? | Cryptocurrencies like Bitcoin or Ethereum. Then check their prices daily. With daily price swings of over 10% (both up and down) being a common occurrence, you'll quickly learn how high your risk tolerance really is. :) A lot of IT people believe that cryptocurrencies will stay. Whether Bitcoin or Ethereum will be amon... |
I have $100,000 in play money… what to do? | You can start a software company. Than your office will be around the world and you can work whenever you want. If you can appoint some people who can collect work from here and there and the coder around the world can give you the job done(this can be done by posting your work in various freelancing site). It is chall... |
What is an “International Equity”? | International means from all over the world. In the U.S. A Foreign Equity fund would be non-US stocks. There's an odd third choice I'm aware of, a fund of US companies that derive their sales from overseas, primarily. |
Why buy insurance? | Apart from legal requirements to have insurance, e.g. 3rd party car that other answers have covered well. We can think of all insurance as protecting our “usable” income, as we can use cashflow to pay the costs of a loan to replace whatever we decided not to insure. So for example, if I don’t insure my house content... |
Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here? | Edit #2 My whole answer was based on my misunderstanding that you were renting out a totally separate property to your girl friend. I finally understand now that you're renting out a room in YOUR apartment flat to your gf. So, based on my new understanding, I don't think it's necessarily a bad idea. The answer below... |
Found an old un-cashed paycheck. How long is it good for? What to do if it's expired? | This varies by jurisdiction somewhat but speaking as a Canadian, a small business owner, and accountant (unregistered but some courses and accounting for multiple businesses) this is the answer if you were in Canada. In Canada the cheque cashing limit is 6 months. Therefor any bank will refuse to cash this cheque. It ... |
What happens if one brings more than 10,000 USD with them into the US? | Since all the other answers thus far seem to downplay the risk (likelihood) of the money being seized, I figure I may as well make my comment an answer. Unless you happen to have your legal team travelling with you and your suitcase of cash, you should expect that you'll be questioned extensively, so that any sign of n... |
Should a high-school student invest their (relative meager) savings? | IMHO It is definitively not too early to start learning and thinking about personal finances and also about investing. If you like to try stock market games, make sure to use one that includes a realistic fee structure simulation as well - otherwise there'll be a very unpleasant awakening when switching to reality... ... |
18 year old making $60k a year; how should I invest? Traditional or Roth IRA? | 1) Usually, the choice between Traditional vs. Roth is whether you believe that your tax rate will be higher or lower in the future than it is now. Your income is probably in the 25% bracket now. It's hard to say whether that should be considered "high" or "low". Some people advocate Roth only for 15% bracket; but your... |
FTB sent refund check for 2011 during audit; Does this really mean that whole audit is over for 2011? | Not it doesn't, and yes they can. If the audit is closed, you should have received invitation to attend the closing conference, and get the summary of decisions from that meeting in writing. I suggest you check with your tax representative about this refund check before cashing it. |
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