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What's the difference between TaxAct and TurboTax? | I typed my information into both last year, and while they were not exactly the same, they were within $10 of each other. For my simple 2009 taxes they were not different in any meaningful way. |
Is there any instance where less leverage will get you a better return on a rental property? | I would say that you should keep in mind one simple idea. Leverage was the principal reason for the 2008 financial meltdown. For a great explanation on this, I would HIGHLY recommend Michael Lewis' book, "The Big Short," which does an excellent job in spelling out the case against being highly leveraged. As Dale M. p... |
Investment time horizon: When is it acceptable to withdraw money from investments? | To summarize your starting situation: You want to: Possible paths: No small business Get a job. Invest the 300K in safe liquid investments then move the maximum amount each year into your retirement accounts. Depending on which company you work for that could include 401K (Regular or Roth), deductible IRA, Roth IRA. Th... |
Buying shares- Stocks & Shares ISA, or Fund & Share account? | The main difference is that the ISA account like a Cash ISA shelters you from TAX - you don't have to worry about Capital Gains TAX. The other account is normal taxable account. With only £500 to invest you will be paying a high % in charges so... To start out I would look at some of the Investment Trust savings scheme... |
Deductible expenses paid with credit card: In which tax year would they fall? | According to this discussion, there was a Tax Court ruling that likened deductibility for charitable giving by credit card to business expenses incurred by businesses operating under cash-basis accounting. (The point is made by Larry Hess on that site.) Short answer: According to this argument, you can claim the deduc... |
Mortgage or not? | Buy a rental property instead. You get tax benefits as well as passive income. And it pays for itself |
Deceived by car salesman | The only thing that is important here is the documentation you and your daughter signed. If that documentation states that you were a co-signer and that your daughter was the primary on the loan, and then if the loan is not being reported in your daughter's name, you have a cause for action. If, however, the documentat... |
Making higher payments on primary residence mortgage or rental? | A lot depends on whether your mortgage payments are interest only or 'repayment' and what the remaining term is on each of the mortgages. Either way I suspect that the best value for the money you put in will be had by making payments to the larger, newer mortgage. This is because the quicker you reduce the capital o... |
Which credit card is friendliest to merchants? | Cash is king. PIN-based debit transactions are cheap. In terms of credit cards, a regular (ie. not a gold card) with no rewards has the lowest rates. Bigger merchants with lots of card volume likely have better deals that make the differences less pronounced. |
devastated with our retirement money that we have left | Get a job, if you don't have one right now. Take deductions from your paycheck for an IRA or 401K if the company has one. |
Are services provided to Google employees taxed as income or in any way? | These services and other employee perks are referred to as fringe benefits. An employee "fringe benefit" is a form of pay other than money for the performance of services by employees. Any fringe benefit provided to an employee is taxable income for that person unless the tax law specifically excludes it from tax... |
What economic growth rate is required to halve U.S. unemployment? | I believe the Bureau of Labor Statistics has published some numbers in this area... I cannot find them at the moment though. I think you need to take these numbers with a grain of salt, though, because they cannot account for productivity and automation improvements that are being aggressively implemented. Companies ar... |
Does an Executed Limit Order Imply a Spot Price? | Think of all the limit orders waiting in line, first organized by price, and then by the time the order was placed (earlier orders are closer to the front of the line). In order for your buy order to trade, there must be no other limit orders of 10.01 or higher, or the sellers order would have matched with them instea... |
Why won't my retirement account let me write a “covered put”? | A "covered put" of the form of being short, and buying at the strike price if the "put ... is put" (excercise), is off the table simply because you can't do shorts in the retirement account. Even if you feel you "win" the argument that you're hedged by being short, any broker can say, "we simply forbid shorts" and that... |
Is it a good investment for a foreigner to purchase a flat/apartment in China? | China is in the middle of a residential housing bubble, and now is probably a horrible time to invest in real estate in China. Even if China wasn't near the peak of its bubble it would probably still be a bad idea because owning real estate in a foreign country is expensive and risky. There are real currency risks, th... |
Is it practical to take actual delivery on a futures contract, and what is the process? | Here's a good link that can answer your question: How to take delivery of a futures contract The relevant part states: Prior to delivery day, they inform customers who have open long positions that they must either close out the position or prepare to take delivery and pay the full value of the underlying contract. By ... |
What to sell when your financial needs change, stocks or bonds? | Don't set mental anchor points. I am saying this as a total hypocrite, mind you, it isn't easy to follow that advice. My suggestion would be to look at each investment and ask yourself, "Would I buy that at today's price?", because if you wouldn't you need to sell regardless of whether you are cashing out. Effectively ... |
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... |
Should I buy or lease a car given that its not a super luxury car and I only drive 15 miles/d on avg? | Leasing is not exactly a scam, but it doesn't seem to be the right product for you. The point of leasing over buying is that it turns the capital purchase of a car which needs to be depreciated for tax purposes into what is effectively a rental expense. Rent is an expense that can be deducted directly without depreci... |
What can cause rent prices to fall? | Sure! Anything that affects the balance of supply and demand could cause rent prices to fall. I'll betcha rent prices in Wilmington, Ohio collapsed when the biggest employer, DHL, shut down. An economic depression of any sort would cause people to substitute expensive rentals for cheaper ones, putting downward pressure... |
What are some good software packages for Technical Analysis? | About 10 years ago, I used to use MetaStock Trader which was a very sound tool, with a large number of indicators, but it has been a number of years since I have used it, so my comments on it will be out of date. At the time it relied upon me purchasing trading data myself, which is why I switched to Incredible Charts.... |
Is it worth trying to find a better minimum down payment for a first time home buyer? | If you are putting down less than 20% expect to need to pay PMI. When you first applied they should have described you a group of options ranging from minimal to 20% down. The monthly amounts would have varied based on PMI, down payment, and interest rate. The maximum monthly payment for principal, interest, taxes, an... |
Is there a debit card that earns miles (1 mile per $1 spent) and doesn't have an annual fee? | I have an American Airlines VISA with miles that has no annual fee, but only because I request that they waive the fee each year. Word to the wise - they've never refused. |
What does “Net Depreciation in Fair Value” mean on a financial report? | First, the annual report is just that, a snapshot that shows value at the beginning and end of the period. Beginning = Aug 08 = $105B End = Aug 09 = $89B Newsletter date May 10 = $96B Odd they chose end of August as it's not even a calendar quarter end. The $16B was market loss during that period. Nearly half of... |
Are there any caveats to withdrawing funds from brokerage? | nan |
Tax implications of holding EWU (or other such UK ETFs) as a US citizen? | My understanding is that EWU (and EWUS) are both traded on US stock markets (NYSE & BATS), and as such these are not classified as PFIC. However, they do contain PFICs, so iShares takes the responsibility of handling the PFICs they contain and make adjustments in December. This contains the information about the adjust... |
Is there a law or regulation that governs the maximum allowable interest amount that can be charged on credit cards or in agreements where credit is extended? | In Canada section 347 of the Canadian Criminal Code makes it illegal to charge more than 60% annually. Since most Canadian credit card annual interest fee is below this they are within that legal limit. However this is limited only to the rate and not necessarily a cap on the absolute interest charges. |
What happens to an Earnest Money Deposit if underwriting falls through? | Your Purchase and Sale agreement should have a financing contingency. If it doesn't, your money may be at risk, and the agent did you no favor. Edit - I answered when away from computer. This is a snapshot of the standard clause from the Greater Boston Real Estate Board. Each state has its own standard documents. The... |
Why do financial institutions charge so much to convert currency? | Mainly because they can. Yes, there is a cost for banks to execute such transactions, and yes, there is a cost to cover the implied risks, but it is far from 3 or 4%. There are banks that charge a flat rate of less than 30$ (and no percentage), so for larger amounts, it is worth shopping around. Note that for smaller ... |
strategy for the out of favour mining sector | At this particular time, I would strongly suggest holding on and not bailing. I've been following this sector pretty closely for 10+ years now. It has taken an absolute beating since 2011 (up to 90% down in many areas), and has been in a slow downward grind all year. Given the cyclical nature of the markets, you're ... |
How to model fees from trades on online platforms? | where A1 is the number of trades. you may have to change the number 100 to 99 depending on how the 100th trade is charged. The idea is to use the if statement to determine the price of the trades. Once you are over the threshold the price is 14*number over threshold. |
How can I avoid international wire fees or currency transfer fees? | My preferred method of doing this is to get a bank draft from the US in Euros and then pay it into the French bank (my countries are Canada and UK, but the principle is the same). The cost of the bank draft is about $8, so very little more than the ATM method. If you use bigger amounts it can be less overall cost. The ... |
Could someone place an independent film on the stock market? | Stock is a part ownership of a business. First there has to be a business that people want to own part of because they expect to make a profit from that ownership. Nobody is going to be interested if the business isn't worth anything. In other words: sure, you could try to start a movie production house to make this ... |
What prevents interest rates from rising? | A lot of loans are taken out on a fixed rate basis, so the rate is part of the contract and is therefore covered by contract law. If the loan is taken out on a variable basis then in principle the rate can rise within the terms of the contract. If a particular lender tries to raise its rates out of line with the marke... |
Replacement for mint.com with a public API? | Plaid is exactly what you are looking for! It's docs are easy to understand, and you can sign up to their API and use their free tier to get started. An example request to connect a user to Plaid and retrieve their transactions data (in JSON): |
What will happen to my restricted units? | This should all be covered in your stock grant documentation, or the employee stock program of which your grant is a part. Find those docs and it should specify how or when you can sale your shares, and how the money is paid to you. Generally, vested shares are yours until you take action. If instead you have optio... |
Should I replace bonds in a passive investment strategy | Bonds still definitely have a place in many passive portfolios. While it is true that interest rates have been unusually low, yields on reasonable passive bond exposures are still around 2-4%. This is significantly better than both recent past inflation and expected inflation both of which are near zero. This is re... |
What are some good, easy to use personal finance software? [UK] | My Finances is a personal finance app for iPhone and iPad. The app uses iCloud to sync the data between your devices if you want to. Otherwise the data is only local and won't be synced to any server. Spoiler: I'm the developer and my opinion may be biased. |
Is it worth it to reconcile my checking/savings accounts every month? | My wife and I are paid every two weeks. I go on line see the exact deposit, add it to register, and see what checks cleared. In effect, I reconcile twice per month, and the statement can't be different that what their system tells me. Since the online site shows "last statement balance" I feel there's no need to bother... |
How to manage paying expenses when moving to a weekly pay schedule and with a pay increase? | Unlike other responses, I am also not good with money. Actually, I understand personal finance well, but I'm not good at executing my financial life responsibly. Part is avoiding tough news, part is laziness. There are tools that can help you be better with your money. In the past, I used YNAB (You Need a Budget). ... |
Multiple SEO companies claiming I have a past-due invoice | Reading stuff like this makes me want to go into the debt collection business. Just send letters to random people demanding money. Sounds like an easy way to make a living. What's your name and address? Just kidding. If they are sending stuff to a Virginia PO Box, close the box with no forwarding address and consider i... |
What does it mean if “IPOs - normally are sold with an `underwriting discount` (a built in commission)” | When an IPO happens, the buyers pay some price (let's say $20 per share) and the seller (the company) receives a different price ($18.60). Who paid the commission? Well, the commission caused a spread between buyer and seller. It doesn't matter who technically pays the commission because it costs both parties. In an... |
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... |
What's the difference when asked for “debit or credit” by a store when using credit and debit cards? | When using a debit card in a "credit" way, you don't need to enter your PIN, which protects you from skimmers and similar nastiness. Also, assuming it's a Visa or Mastercard debit card, you now have access to all of the fraud protection and other things that you would get with a credit card. The downside for the mercha... |
In a competitive market, why is movie theater popcorn expensive? | A multiplex is a concession stand which happens to show movies in order to lure you into range of the smell of their popcorn. It has nothing to do with movie theater monopolies. As it was explained to me by my manager, back when I worked in a movie theater in a small Midwestern chain, for every movie, the studios take... |
Is there a resource for knowing when Annual and Quarterly Reports are coming out? | https://www.google.com/search?q=quarterly+and+annual+financial+report+calendar&oq=quarterly+and+annual+financial+report+calendar&aqs=chrome..69i57.9351j0j7&sourceid=chrome&ie=UTF-8 The third result on Google is: https://www.bloomberg.com/markets/earnings-calendar/us The fourth result on Google is: https://finance.yahoo... |
Does Edmunds get a kick-back from the use of Edmunds Price Promise? | Yes, Edmunds gets money from the dealerships in this program. According to this USA Today article from 2013, dealers pay Edmunds a monthly fee to participate in the program. This contrasts with TrueCar.com, a similar service, where dealers pay a fee for each sale. And yes, it is certainly possible to negotiate a lower... |
In a buy order with a trigger, will I pay the current ask or the buy price in the order? | If you want to buy once the price goes up to $101 or above you can place a conditional order to be triggered at $101 or above and for a limit order to entered to buy at $102. This will mean that as soon as the price reaches $101 or above, your limit order will enter the market and you will buy at any price from $102 or... |
Consolidate my debt? Higher APR, but what does that actually mean? | There's a cliche, "out of the frying pan and into the fire". I've never had the occasion to use it till now. I understand some people find they have a dozen cards and struggle to keep organized. An extra percent or two seems worth the feeling of just one payment to make. In your case, 3 checks (or online payments) per... |
Will the stock market continue to grow forever? | The stock market may not grow "forever". There will be growth in the stock market, though. The stock market is a positive-sum game, since it is driven in large part by the profits earned by the companies. This doesn't mean that any individual stock will go up forever, it doesn't mean that any given index will go up for... |
How are bonds affected by the Federal Funds Rate? | The federal funds rate is one of the risk-free short-term rates in the economy. We often think of fixed income securities as paying this rate plus some premia associated with risk. For a treasury security, we can think this way: (interest rate) = (fed funds rate) + (term premium) The term premium is a bit extra the bon... |
Multi-Account Budgeting Tools/Accounts/Services | I sort of do this with credit cards. I actually have 4 AMEX cards that I've accumulated over the years. Certain types of expenses go on each card ("General expenses", recurring bills, car-related and business-related) I use AMEX because they have pretty rich iPhone/Android applications to access your accounts and a ric... |
How can one identify institutional accumulation of a particular stock using price and volume data? | A couple ways, but its not a guarantee. You have to have special charts. Instead of each tick being 1 min, 5 min, or whatever, it is a set number of trades. Say 2000. Since retail investors only buy and sell in small amounts, there will be small volume per tick. An institutional investor, however, would have a much mu... |
Why is it rational to pay out a dividend? | It comes down to the practical value of paying dividends. The investor can continually receive a stream of income without selling shares of the stock. If the stock did not pay a dividend and wanted continual income, the investor would have to continually sell shares to gain this stream of income, incurring transaction ... |
Correct way to amend tax return as a result of not correctly reporting gains on sale of private stock based on Installment method? | After much research, the answer is "a": recompute the tax return using the installment sales method because (1) the escrow payment was subject to "substantial restrictions" by virtue of the escrow being structured to pay buyer's indemnification claims and (2) the taxpayer did not correctly elect out of the installment ... |
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... |
Invest in (say, index funds) vs spending all money on home? | Here in the UK, the rule of thumb is to keep a lot of equity in your home if you can. I assume here that you have a lot of savings you're considering using. If you only have say 10% of the house price you wouldn't actually have a lot of choice in the matter, the mortgage lender will penalise you heavily for low deposit... |
What factors make someone buy or sell a stock? | Stock price is determined by the buyers and sellers, correct? Correct! "Everything is worth what its purchaser will pay for it"-Publius Syrus What causes people to buy or sell? Is it news? earnings? stock analysis and techniques? All of these things influence investors' perception of how much a stock is worth. If AMZN ... |
How do I research if my student loan company is doing something illegal? | The thing to recall here is that auto-pay is a convenience, not a guarantee. Auto-pay withdrawals, notices that a bill is due, all of these are niceties that the lender uses to try to make sure you consistently pay your bill on time, as all businesses enjoy steady cash flows. Now, what all of these "quality of life" fe... |
Is it practical to take actual delivery on a futures contract, and what is the process? | Not all futures contracts are deliverable. Some futures are specified as cash settlement only. In the case of deliverable contracts, part of the specification of a futures contract will be the delivery locations. As per my answer to your previous question, please see the CME Rulebook for details of delivery points fo... |
What is the name of inverse of synergy? (finance) | You could call it "multiple streams of income" a la Robert Allen and others. Or you could call it "Do once, sell many" or something like that. |
How does stabilization work during an IPO? | IPO's are priced so that there's a pop" on the opening day." If I were IPOing my company and the price "popped" on the open, I would think the underwriter priced it too low. In fact if I were to IPO, I'd seek an underwriter whose offerings consistently traded on the first day pretty unchanged. That means they priced it... |
Will I always be able to get a zero-interest credit card? | After looking at the comments, and your replies it seems that your mind is made up: "You will always be able to obtain 0% credit, and nothing bad will ever happen". Credit cards that offer 0% on balance transfers are very rare. Most have a transfer fee of some kind, which acts like an interest rate. This is a change ... |
Can a shareholder be liable in case of bankruptcy of one of the companies he invested in? | The answer depends on whether the company involved has 'limited liability'. Most, but not all public and listed companies and corporations have this, but not all so it is worth checking and understanding what you are getting involved with. The expression 'limited liability' means that the owners (shareholders) of a c... |
When can you use existing real estate as collateral to buy more? | You put 20% down and already owe the 80% or $80k, so you don't have the ability to borrow $100k or even $20k for that matter. As LittleAdv stated, the banks have really tightened their lending criteria. Borrowing out more than 80% carries a high premium if you can get it at all. In your example, you want the property ... |
Capitalize on a falling INR | By no means is this a comprehensive list, but a few items to consider: |
Starting a large business with a not so large income? | There are three (or four) ways that a company can grow: (Crowdfunding is a relatively new (in mainstream businesses) alternative financing method where people will finance a company with the expectation that they will benefit from the product or service that they provide.) Obviously a startup has no prior income to use... |
Are there any hedged international funds in India? | There aren't and for a good reason. The long term trend of INR against USD, GBP, EUR and other harder currencies is down. Given the inflation differential between these economies and India's, fund managers and investors should expect this to continue. Therefore, if you are invested for any reasonable length of time, yo... |
What effect does a company's earnings have on the price of its stock? | A common (and important) measure of a stock's value is the price/earnings ratio, so an increase in earnings will normally cause the stock price to increase. However, the price of the stock is based on a guess of the value of the company some time (6 months?) in the future. So an increase in earnings today probably make... |
How to get a credit card as a minor? | In general, minors cannot enter into legally binding contracts -- which is what credit accounts are -- so an individually held card is probably not an option for you right now. You will not be approved for a credit card because you are minor. The only option credit card wise for you is for your parents to add you o... |
Can you explain why these items are considered negatives on my credit report? | 1. Your oldest active credit agreement is not very old This is fairly straight forward. If you've not been exposed to borrowing for a reasonable length of time, people won't want to lend you money. They have no reason to have any confidence in your ability to repay them. As other said, it's pretty much a case of provin... |
How to get rid of someone else's debt collector? | As a former debt collector myself, I can tell you that we did occasionally get someone claiming that they weren't who they really were. However, it was pretty obvious who was telling the truth after a while. Above all else, just be calm and polite. Technically, you can also say "do not call this number again" and they ... |
What are the pitfalls of loaning money to friends or family? Is there a right way to do it? | The big problem with lending money to friends and family is that if things go sour with the deal than you can lose something a lot more valuable than the money associated with the deal. As a result of that I no longer lend money to friends and family. If I have the extra money available and I know someone is really in ... |
What are the tax implications of exercising options early? | Despite a fair number of views, no one besides @mbhunter answered, so I'll gather the findings of my own research here. Hopefully, this will help others in similar situations. If you spot any errors, please let me know! |
How to shop for mortgage rates ? | I asked my realtor, but she recommends to go with just one banker (her friend), and not to do any rate shopping. You need a new realtor. Anyone who would offer such advice is explicitly stating they are not advocating on your behalf. I'd do the rate shopping first. When you make an offer, once it's accepted, time be... |
What are some time tested passive income streams? | Last year was a great opportunity for dividend stocks and MLPs. I have a few which are earning 6-9% of my investment basis cost. Municipal bonds are a good value now. If you have the connections, passive investments in convenience franchises or other commercial property are a good income stream. A Dunkin Donuts used t... |
Legitimate unclaimed property that doesn't appear in any state directory? | Most states have a "cap" on the amount a "heir finder" can charge for retrieving the property. It is generally around 10%. Even if the state does not have a particular statute you can usually negotiate the rate with the company. Thirty-percent is extortion, if they won't do it for less, someone else will. |
How does a public company turn shares into cash? | how do they turn shares into cash that they can then use to grow their business? Once a Company issues an IPO or Follow-On Public Offer, the company gets the Money. Going over the list of question tagged IPO would help you with basics. Specifically the below questions; How does a company get money by going public in an... |
Which graduate student loans are preferable? | Of course, the situation for each student will vary widely so you'll have to dig deep on your own to know what is the best choice for your situation. Now that the disclaimer is out of the way, the best choice would be to use the Unsubsidized Stafford loan to finance graduate school if you need to resort to loans. The m... |
Why do some people say a house “not an investment”? | A house is a funny kind of investment. Normally when you invest, you do it to make money. The return on a house, though, isn't principally real money, it's the imputed rent - money that you would have needed to pay to rent the house. The thing about this imputed rent is that you consume it right away. Getting a bigger ... |
Bringing money to UK for investment purposes | Transfers of money to the UK for any purpose are not generally taxed, so you can just transfer it here and invest. Once the money is here, you'll be taxed on the business activity like anyone else - the company will have to pay corporation tax, and depending on your own residency you might have to pay income tax on any... |
How Do I Fix Excess Contribution Withdrawl | I think there are several issues here. First, there's the contribution. As littleadv said, there is no excess contribution. Excess contribution is only if you exceed the contribution limit. The contribution limit for Traditional IRAs does not depend on how high your income goes or whether you have a 401(k). It's the de... |
Is it true that 90% of investors lose their money? | For some studies on why investors make the decisions they do, check out For a more readable, though less rigorous, look at it, also consider Kahneman's recent book, "Thinking, Fast and Slow", which includes the two companion papers written with Tversky on prospect theory. In certain segments (mostly trading) of the in... |
Is there a general guideline for what percentage of a portfolio should be in gold? | The "conventional wisdom" is that you should have about 5% of your portfolio in gold. But that's an AVERAGE. Meaning that you might want to have 10% at some times (like now) and 0% in the 1980s. Right now, the price of gold has been rising, because of fears of "easing" Fed monetary policy (for the past decade), culmina... |
Why invest for the long-term rather than buy and sell for quick, big gains? | Every time you buy or sell a share for some price, somebody must have thought that that was exactly the right moment to sell or buy that share at that price (and to trade with you). Every time a trade is made, both sides think they are doing the smart thing. Most of the time, one will turn out to be wrong, the other ri... |
Pros/cons of replicating a “fund of funds” with its component funds in my IRA? | In your entire question, the only time you mention that this is an investment inside an IRA is when you say Every quarter, six months, whatever Id have to rebalance my IRA while Vanguard would do this for the fund of funds without me needing to. Within an IRA, there are no tax implications to the rebalancing. But if th... |
Is the financial advice my elderly relative received legal/ethical? | I can't speak about the UK, but here in the US, 1% is on the cheap side for professional management. For example Fidelity will watch your portfolio for that very amount. I doubt you could claim that they took advantage of her for charging that kind of fee. Given that this is grandma's money, no consultation with the ... |
Why do US retirement funds typically have way more US assets than international assets? | nan |
What is the market rate of non-cash ISA fund administration fee in UK? | Is he affiliated with the company charging this fee? If so, 1% is great. For him. You are correct, this is way too high. Whatever tax benefit this account provides is negated over a sufficiently long period of time. you need a different plan, and perhaps, a different friend. I see the ISA is similar to the US Roth acco... |
When will Canada convert to the U.S. Dollar as an official currency? | Canada would most likely not convert any time in the near future. The challenge for Canada converting to the US Dollar or the fictional "Amero" mentioned by JohnFX is that : Some of the benefits would be: The challenge right now for any government would be to sell the pros over the cons and from that viewpoint the cons... |
Advice for college student: Should I hire a financial adviser or just invest in index funds? | Though @mehassee mentioned it in a comment, I would like to emphasize the point that the financial planner (CFP) you talked to said that he was a fiduciary. A fiduciary has an obligation to act in your best interests. According to uslegal.com, "When one person does agree to act for another in a fiduciary relationship... |
If one owns 75% of company shares, does that mean that he would have to take upon himself 75% of the company's expenses? | Typically, no. Unless you have a detailed agreement spelling out the apportioning of costs, all operating expenses are deducted from gross income first, with the division of the proceeds coming out of net profit, in accordance with the type and % of shares you own, and per the terms of the shareholders agreement. This ... |
A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? | This is another version of an old scam -- "let me have a check deposited in your account because I can't open one for some reason, and I'll share some of the money with you." Here the scammer is promising to "start a business" with you as a way to gain your confidence and trust. The first danger sign is that you only ... |
Tax implications of restricted stock units | My friend Harry Sit wrote an excellent article No Tax Advantage In RSU. The punchline is this. The day the RSUs vested, it's pretty much you got $XXX in taxable income and then bought the stock at the price at that moment. The clock for long term gain starts the same as if I bought the stock that day. Historical side... |
What happens if I intentionally throw out a paycheck? | How/when does my employer find out? Do they get a report from their bank stating that "check 1234 for $1212.12 paid to John Doe was never deposited" or does it manifest itself as an eventual accounting discrepancy that somebody has to work to hunt down? The accounting department or the payroll company they use wi... |
What is meant by a market that is technically strong | A technically strong stock or market is simply a stock or market which is up-trending and has been up-trending for a while. Just as a fundamentally strong stock is one with good fundamentals (a stock that is healthy and making higher profits year after year and continually improving), a technically strong stock has a h... |
If I have AD&D through my employer, should I STILL purchase term life insurance? | I think that mbhunter hit the nail on the head regarding your question. I just want to add that having a policy that isn't sponsored by your employer is a good idea... employer policies are regulated by the federal government via ERISA. Independent policies are state regulated, and usually have better protections. Also... |
Should I be worried that I won't be given a receipt if I pay with cash? | If this is because he wants to avoid paying taxes, will I get in trouble if I agree to have him work on my vehicle? You should check your state and local sales tax laws to be certain, but in my state you have no liability if he does not pay his taxes. That's his problem, not yours. The biggest risk for you is if some... |
Terminology: What are the labels associated with a share called? | If the first one is literally a company name, then 'company name' is fine. However, companies can issue shares more than once, and those shares might be traded separately, so you could have 'Google ordinary', 'Google preference', 'Google ordinary issue B'. Seeing the name spelled out in full like this isn't as common a... |
After consulting HR Block, are you actually obligated to file your taxes with them, if they've found ways to save you money? | As I have worked for H&R Block I know for a fact that they record all your activity with them for future reference. If it is their opinion that you are obligated to use their service if you use some other service then this, most likely, will affect your future dealings with them. So, ask yourself this question: is red... |
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