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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... |
What is the best way to invest in gold as a hedge against inflation without having to hold physical gold? | Investing in gold without having physical gold is not really a hedge against inflation. GLD is really more for speculation, not protection against serious inflation. If there is any kind of inflation worth really protecting yourself against then one thing you will notice at its onset is a divergence in the price of phy... |
The U.S. National Debt: What is it, where did it come from, and how does it work? | It is measured in US dollars. The US cannot just print the money because that would cause inflation. Remember that money is really just a convenient placeholder for the barter system. Creating more money regardless of whether there is more value in the economy (work, resources, etc.) is a very bad idea, and doing so... |
What one bit of financial advice do you wish you could've given yourself five years ago? | I wish I had learned my lesson from the dot com bubble before I took a piece of the housing bubble. |
What is vested stock and yearly dividends? | Vesting As you may know a stock option is the right to acquire a given amount of stock at a given price. Actually acquiring the stock is referred to as exercising the option. Your company is offering you options over 200,000 shares but not all of those options can be exercised immediately. Initially you will only be ... |
What is the difference between a stock and a bond? | A stock is an ownership interest in a company. There can be multiple classes of shares, but to simplify, assuming only one class of shares, a company issues some number of shares, let's say 1,000,000 shares and you can buy shares of the company. If you own 1,000 shares in this example, you would own one one-thousandth... |
What are the usual terms of a “rent with an option to buy” situation? | The typical deal would be a premium to the normal rent, say $1200 instead of $1000, in return he has the option to buy the house at a fixed price by the end of the agreement term. |
Is this Employee Stock Purchase Plan worth it when adding my student loan into the equation? | The closer the contribution is to the December 31st date, the more profitable that specific contribution is, only taking into consideration the 5% discount. On your case, the first contribution that beats your student loans interest rate is the August one, where you get about 9% annual return, the remaining contributio... |
Expiring 401(k) Stock Option and Liquidation Implications | It might go down a bit, or it might not. That is nearly impossible to predict, as the relative volumes are unknown, and the exact procedure is also unknown (they might do the selling over a longer period, or as a buy back, or immediately, or...) However, why would you want to wait at all? It is generally not a great id... |
What would be a wise way to invest savings for a newly married couple? | I agree with @Pete that you may be well-advised to pay off your loans first and go from there. Even though you may not be "required" to make payments on your own loan based on your income, that debt will play a large factor in your borrowing ability until it is gone, which hinders your ability to move toward home owne... |
Equation to determine if a stock is oversold and by how much? | What you are seeking is termed "Alpha", the mispricing in the market. Specifically, Alpha is the price error when compared to the market return and beta of the stock. Modern portfolio theory suggests that a portfolio with good Alpha will maximize profits for a given risk tolerance. The efficient market hypotheses sugge... |
Is selling put options an advisable strategy for a retiree to generate stable income? | I am close to retirement and sell cash secured puts and covered calls on a regular basis. I make 15 % plus per year from the puts. Less risky than buying stocks, which I also do. Riskier than bonds, but several times the income. Example: I owned 4,000 shares of XYZ, which I bought last year at 6.50 and was at 7.70 ... |
Options for dummies. Can you explain how puts & calls work, simply? | An Xbox currently sells for $200 but you don't have the money right now to buy it. You think the price of the xbox is going up to $250 next month. Your friend works at BestBuy and says he has a "raincheck" that allows you to buy the Xbox for $200 but the raincheck expires next month. He offers to sell you the "rainch... |
That “write your own mortgage” thing; how to learn about it | You are asking about a common, simple practice of holding the mortgage when selling a house you own outright. Typically called seller financing. Say I am 70 and wish to downsize. The money I sell my house for will likely be in the bank at today's awful rates. Now, a buyer likes my house, and has 20% down, but due to s... |
Can I open a Demat account in India from abroad? | Yes NRIs are allowed to open a DEMAT account in India from abroad. Investments can be made under the Portfolio Investment NRI Scheme (PINS) either on repatriation or non-repatriation basis. As per,the guidelines of the Reserve Bank of India it is mandatory for NRIs to open a trading account with a designated institu... |
Am I entitled to get a maintenance loan? | According to GOV.UK, you can only apply for Student Finance if: Since you don't fulfill the criterion 2 and 3, you are technically not eligible for Student Finance. Since you have received information from Student Finance England that you can apply for the maintenance loan, you should either write to them or call them ... |
What should I be doing to protect myself from identity theft? | I believe the answer is that to protect yourself it is good to get credit protection so you will be notified when new credit is taken in your name. Also, you can use http://www.annualcreditreport.com/ to look at your credit report. HINT: While you do that, and while you are in the TransUnion report, you will have th... |
If I plan to buy a car in cash, should I let the dealer know? | Yes you tell them. I can say that I pay cash for all my cars and always get cars for lower than the TrueCar low-end. There are basically two steps: go test drive, negotiate fully, leave (unless you are given a mind-blowing offer). This may take you one to many dealerships. It depends on how well you know what car y... |
Trouble sticking to a budget when using credit cards for day to day transactions? | Do yourself a favor: calculate the price of airfare, calculate how many points it takes to get a good flight, and calculate how many points you get per dollar spent. What you will find is that it is a ripoff. Leave the card at home and unlink it from your online purchasing accounts. You're welcome. If you really want t... |
Do Americans really use checks that often? | From a Canadian point of view, I think we are generally very similar to how you describe Austria. The only thing I use cash for, is to pay for my coffee at a local micro-roaster who only accepts cash. Cheques, I only use to pay friends. Everything else is debit or credit card. Very few businesses around here will e... |
Which is the better strategy for buying stocks monthly? | You will invest 1000£ each month and the transaction fee is 10£ per trade, so buying a bunch of stocks each month would not be wise. If you buy 5 stocks, then transaction costs will eat up 5% of your investment. So if you insist on taking this approach, you should probably only buy one or two stocks a month. It sound... |
When does Ontario's HST come into effect? | (community wiki) Ontario special HST sales tax transition rebate cheques: When and how much? What will happen to quarterly GST cheques when HST starts in Ontario? Ontario HST rebate: When would I qualify? Ontario gas prices & HST: What will happen to prices at the pump on July 1, 2010? How will Ontario’s HST apply to b... |
Where should my money go next: savings, investments, retirement, or my mortgage? | I'd invest in yourself. Start up a side business. Take a certification class that gets your foot in the door for something else (auctioneering, real estate sales, whatever). Bid on a storage auction and try to re-sell it. Learn Spanish (or whatever second language is best for your area). And so forth. Most of the ... |
For a mortgage down-payment, what percentage is sensible? | I am currently in the process of purchasing a house. I am only putting 5% down. I see that some are saying that the traditional 20% down is the way to go. I am a first time homebuyer, and unfortunately we no longer live in the world where 20% down is mandatory, which is part of the reason why housing prices are so high... |
Are 'no interest if paid in in x months' credit cards worth it? | No, because of the balance transfer fees, which could be 4%. Unless of course you get a deal for 12 months of no payment, and you pay it back in 12 months, in which case a 4% annual interest rate is much less than a loan! At that point you are gambling that you will be responsible with the payments, and the card compan... |
Strategic countermeasures to overcome crisis in Russia | You could do nothing for a while longer. Foreign exchange simply means your services are cheaper and imports and more expensive, local transactions are otherwise unaffected. Your main worry is whether the government's attempts to revert these issues will create inflation within Russia. Local clients will likely not ca... |
Do company-provided meals need to be claimed on my taxes? | In many cases yes. In the case of an employer handing employees a credit card to use, that is clearly income if the card is used for something other than a business expense. Generally speaking, if you're receiving something with a significant value without strings attached, it is likely taxable. Google no doubt has an... |
In 2015, why has the price of natural gas been plummeting? | You do not hold leveraged ETF for longer than a few days. You have UGAZ and DGAZ, both 3x leveraged, one longs one shorts. What happens if you buy both? You don't get 0% return. In fact, you get -10% return if you hold both for 3 months. No matter what happens, they both go down in long term. Call it Leverage Deca... |
What can a CPA do that an EA cannot, and vice versa? | Enrolled Agents typically specialize only in tax matters. Their status allows them to represent clients before the IRS (which a CPA can also do) See the IRS site regarding Enrolled Agents Their focus is much narrower than a CPA and you would only hire them for advice or representation with tax related matters. (e.g. ... |
How do I get bill collectors who call about people I know to stop calling me? | I agree about not wanting to get into your friend's personal business, and it's a scummy bill collector that repeatedly calls friends or family to track down a debtor. On the other hand, at least he's made it obvious he's calling about a debt as opposed to pretending to be tracking down your friend with some other pret... |
Can I sell a stock immediately? | You can*, if the market is open, in a normal trading phase (no auction phase), works, and there is an existing bid or offer on the product you want to trade, at the time the market learns of your order. Keep in mind there are 2 prices: bid and offer. If the current bid and current offer were the same, it would immediat... |
Should I finance a new home theater at 0% even though I have the cash for it? | Read the fine print and you will be fine. The big caveat is that if you miss a payment for any reason, you will be in default as far as the promotional financing is concerned and will typically owe ALL of the accrued interest, which is usually computed at 20-25% per year. Personally, I use these sorts of offers all of... |
Why is stock dilution legal? | If that company issues another 100 shares, shouldn't 10 of those new 100 shares be mine? Those 100 shares are an asset of the company, and you own 10% of them. When investors buy those new shares, you again own a share of the proceeds, just as you own a share of all the company's assets. A company only issues new share... |
What return are you getting on your money from paying down a mortgage on a rental property? | As Chris pointed out: If your expenses are covered by the income exactly, as you have said to assume, then you are basically starting with a $40K asset (your starting equity), and ending with a $200K asset (a paid for home, at the same value since you have said to ignore any appreciation). So, to determine what you hav... |
Why is everyone saying how desperately we need to save money “in this economy”? | This was called Financial repression by Edward S. Shaw and Ronald I. McKinnon from Stanford (https://en.wikipedia.org/wiki/Financial_repression). Financial repression is the situation, when government is stealing from people, who rely heavily on saving, rather then on spending. Meaning that your saving rates will be a ... |
Renters Liability in Case of Liability Claims for Property Damage or Fire | According to US News, renter's insurance does cover liability as well as your own belongings. They list this as one of four "myths" often promulgated about renter's insurance. This is backed up by esurance.com, which explicitly mentions "Property damage to others" as covered. Nationwide Insurance says that renter's ... |
What to bear in mind when considering a rental home as an investment? | Here would be the big two you don't mention: Time - How much of your own time are you prepared to commit to this? Are you going to find tenants, handle calls if something breaks down, and other possible miscellaneous issues that may arise with the property? Are you prepared to spend money on possible renovations and ot... |
Tax: 1099 paper form | You can print them on any IRS-approved paper, you don't have to use pre-printed forms. The IRS publishes specifications for paper that is approved for use for these kinds of forms (109*, W*, etc). Here's the reason why it is important: Even the slightest deviation can result in incorrect scanning, and may affect money... |
Do I still need to pay capital gains taxes when I profit from a stock in a foreign currency? | Yes, you still need to pay income tax on your capital gain regardless of whether you converted your USD proceeds back into CAD. When you calculate your gains for tax purposes, you'll need to convert all of your gains to Canadian dollars. Generally speaking, CRA will expect you to use a historical USD to CAD exchange ra... |
Is IRS Form 8938 asking me to double-count foreign assets? | The requirement is to report the highest balance on the account, it has nothing to do with your income. |
I am a Resident Alien for tax purposes. Can I claim exemptions from the India - US Tax Treaty (21)? | I was able to find several references that claim that the Indo-US treaty provision is limited to five years: Here it says this (on page 20): Generally the treaty exemption for students is limited to the first five calendar years that the international student is in the U.S. However there is no set time limit for st... |
More money towards down payment versus long-term investments | Every payment you make on your house will already be increasing your equity in it. For that reason alone, I'd recommend moving additional savings into other long-term funds. |
Why do people always talk about stocks that pay high dividends? | The upvoted answers fail to note that dividends are the only benefit that investors collectively receive from the companies they invest in. If you purchase a share for $100, and then later sell it for $150, you should note that there is always someone that purchases the same share for $150. So, you get $150 immediately... |
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 ... |
Strategies for paying off my Student loans | Considering I'm in a nearly identical situation, I'll speak to my personal strategy and maybe there's some value for you as well. You have ~$22k in loans, which you say you could pay off today. So, what I read is that you're sitting there with a $22k investment and want to know which investment to make: pay down deb... |
Legal Financing | Find a lawyer or law firm who wants to represent you and talk to them. |
My investment account is increasingly and significantly underperforming vs. the S&P 500. What should I do? | The majority (about 80%) of mutual funds are underperforming their underlying indexes. This is why ETFs have seen massive capital inflows compared to equity funds, which have seen significant withdrawals in the last years. I would definitively recommend going with an ETF. In addition to pure index based ETFs that (al... |
New car: buy with cash or 0% financing | There is a 3rd option: take the cash back offer, but get the money from a auto loan from your bank or credit union. The loan will only be for. $22,500 which can still be a better deal than option B. Of course the monthly payment can make it harder to qualify for the mortgage. Using the MS Excel goal seek tool and the ... |
Good book-keeping software? | I think Peachtree is a double entry system |
HELOC vs. Parental Student Loans vs. Second Mortgage? | I'd like to propose a 4th option: Let your kid(s) take out their own student loans, and then you can make payments directly to help them pay them down. Some advantages to this method: Note the many similarities to the HELOC, which would probably be my second choice. |
Financing with two mortgages: a thing of the past? | You can't get a HELOC, to the best of my knowledge, without actually "owning" the house. If you get an 80% mortgage (of the purchase price - not the appraised value, btw), you still need 20% as a down payment. Once you own the home, you can apply for a HELOC ... presuming you have enough equity (eg, the purchase price ... |
Should a high-school student invest their (relative meager) savings? | At your age (heck, at MY age :-)) I would not think about doing any of those types of investments (not savings) on your own, unless you are really interested in the investment process for its own sake, and are willing to devote a lot of time to investigating companies in order to try to pick good investments. Instead, ... |
Shorting versus selling to hedge risk | If you already own shares in a company and sell some, you won't be short selling these shares if sold from the same brokerage account, because your existing shares with that broker need to be sold first before you are able to short sell any. If you own a portfolio of shares however, you may be able to short sell an ind... |
Should I consolidate loans and cards, or just cards, leaving multiple loans? | My answer is similar to Ben Miller's, but let me make some slightly different points: There is one excellent reason to get a consolidation loan: You can often get a lower interest rate. If you are presently paying 19% on a credit card and you can roll that into a personal loan at 13.89%, you'll be saving over 5%, which... |
Does it make sense to refinance a 30 year mortgage to 15 years? | You don't say what the time remaining on the current mortgage is, nor the expense of the refi. There are a number of traps when doing the math. Say you have 10 years left on a 6% mortgage, $200K balance. I offer you a 4% 30 year. No cost at all. A good-intentioned person would do some math as follows: Please look at t... |
Will I get a tax form for sale of direct purchased stock (US)? | I think I found the answer, at least in my specific case. From the heading "Questar/Dominion Resources Merger" in this linked website: Q: When will I receive tax forms showing the stock and dividend payments? A: You can expect a Form 1099-B in early February 2017 showing the amount associated with payment of your sha... |
Stocks that only have 1 really high peak | Investing is not the same as illegal drugs. One does not start with pot and progress to things like heroin in order to get a better high. Penny stocks are a fools game and not an entry into the world of investing. The charts you mentioned are fake and likely the result of pump and dump schemes as my colleagues have p... |
In Canada, how much money can I gift a friend or family member without them being taxed on it? | When you give a gift to another person or receive a gift from another person there is no impact on your taxes. You do not have to report certain amounts in your income, including the following: ... -most gifts and inheritances; http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/rprtng-ncm/nttxd-eng.html If y... |
For a major expensive home renovation (e.g. addition, finished basement, or new kitchen) should one pay cash or finance with a loan? Would such a loan be “good” debt? | The number one reason to borrow is quite simple; when you have no other choice. The primary reason to do this is when renovations or additions must be made in a timeframe that precludes you being able to save enough money to pay cash. Harmanjd's example of a kid on the way with no space to put him is a very good hypoth... |
I'm 23, living at home, and still can't afford my own property. What could I do? | When I was 23, the Toronto housing market was approaching a record high, and I thought, "I must buy a place or I'll be locked out." And I did. Bad decision. I should have waited and saved my money. For the record, I thought I would never recover, but I did. Patience grasshopper. In actual fact the U.K. housing market i... |
Is paying off your mortage a #1 personal finance priority? | It is one thing to take the advice of some numb-skulls on a web site, it is another thing to take the advice of someone who is really wealthy. For myself, I enjoy a very low interest rate (less than 3%) and am aggressively paying down my mortgage. One night I was contemplating slowing that down, and even the possibili... |
Money put down on home | You should have drafted a contract of purchase that stipulated out equity stake in the home based of his down payment and yours, along with future monthly payments. But morally, if the house sells, yielding 100,000 profit (after fees/taxes/etc), you should get ( To Calculate Your Cut: (20,000 + Your Total Mortgage Pay... |
What is the best way to get cash from my retirement accounts for a home down payment? | Given that utilizing all the funds available to you drains your retirement and leaves you with very little cushion for unforeseen events (as already noted), it may be best to use a smaller amount for closing and just deal with the PMI for a couple years. PMI is likely less than the taxes/penalties incurred from withdra... |
What are the opportunities/implications of having a designated clearing bank in my home country? | I strongly urge you against this despite the fact that you may enjoy lucrative interest rates in the short run. Considering the reckless usage of deposits and other public monies to build buildings just to claim that gdp is high (they count the cost of real estate as investment not their final sales as the rest of the ... |
Post tax versus pretax (ESPP versus straight investment) | This answer assumes that your purpose for using the ESPP is to generate a relatively safe 15% return on that portion of your income. Frequently before there were Roth 401K options the advice was: This advice was especially good for the younger workers because they wanted to have a Roth account but didn't want to miss ... |
Balance Sheets: How a company can save money for further investments | A company CAN hold on to money. This is called retained earnings. Not all money is due back to the owners (i.e. stockholders), but only the amount that the board of directors chooses to pay back in the form of dividends. There is a lot more detail around this, but this is the simple answer to your question. |
What publicly available software do professional stock traders use for stock analysis? | Bloomberg Professional seems to be very popular. It provides any kind of data you can imagine. Analysis is a subjective interpretation of the data. |
Advantages of paying more of your mortgage while you know you won't continue to live there your whole life | In the Netherlands specifically, there are several reasons to pay extra off on your mortgage. First, house prices have dropped significantly in the last several years. They are rising slowly now, but it's region specific and you can still borrow more than 100% of the price of the house. Under these conditions, if you... |
Should we prepay our private student loans, given our particular profile? | Just for another opinion, radio host Clark Howard would suggest killing the private student loans as quickly as possible. The only reason is the industry around private student loans has fewer rules as to how they interact with you, and they have historically been very unpleasant if you have to deal with them in bad f... |
What are the reasons to get more than one credit card? | I got a Capital One credit card because they don't charge a fee for transactions in foreign currencies. So I only use it when I travel abroad. At home, I use 3 different credit cards, each offering different types of rewards (cash back on gas, movies, restaurants, online shopping etc). |
Paying taxes on dividends even though your capital gains were $0? | You are incorrect in saying that you have a capital gains of $0. You either have no capital gains activity, because you haven't realized it or you have an unrealized capital gains of -$10k. If you were to sell immediately after receiving the dividend you would end up as a wash investment wise - the 10k of dividend offs... |
why is the money withdrawn from traditional IRA taxed at the ordinary income tax rate? | This is actually (to me) an interesting point to note. While the answer is "that's what Congress wrote," there are implications to note. First, for many, the goal of tax deferral is to shift 25% or 28% income to 15% income at retirement. With long term gains at 15%, simply investing long term post tax can accomplish a... |
What are the pros and cons of investing in a closed-end fund? | Pro: - Faces less redemption pressure and hence the Fund Manager can focus more on long term gains rather than immediate gains. - Works well in emerging markets. - Less churn out in case the market falls sharply, there by making more money in long run. Cons: - No additional money to invest/take advantage of market ... |
Standard Deviation with Asset Prices? | James Roth provides a partial solution good for stock picking but let's speed up process a bit, already calculated historical standard deviations: Ibbotson, very good collection of research papers here, examples below Books |
Investment strategy for a 20 year old with about 30k in bank account | Thanks for your service. I would avoid personal investment opportunities at this point. Reason being that you can't personally oversee them if you are deployed overseas. This would rule out rentals and small businesses. Revisit those possibilities if you get married or leave the service. If you have a definite t... |
How to convince someone they're too risk averse or conservative with investments? | Introduce him to the concept of Inflation Risk, and demonstrate that being too conservative with your investments might be a very risky strategy as well. |
Is it worth it to buy TurboTax Premier over Deluxe if I sold investments in a taxable account? | For tax year 2014, TurboTax Deluxe no longer supports Schedule D.* TurboTax Premier is required if you need to use Schedule D. Alternatively, H&R Block Tax Software Deluxe will handle Schedule D at a fraction of the cost of TurboTax Premier. Update: Beginning with tax year 2015, TurboTax has reversed their disastrous ... |
Multiple hard inquiry for a single loan from car dealer? | (I'm a bit surprised that nobody talked about the impact of multiple inquiries on a loan, since OP is concerned with credit building. Probably an answer as opposed to a comment is justified.) Yes. In fact when you shop for auto loan you are expected to have your credit score/report be pulled by different banks, credit ... |
Ethics and investment | Markets are amoral. If you don't buy stock in a company that has high growth/earnings, someone else will. By abstaining you will actually make it cheaper for someone else who is interested in making money. Investing in "socially responsible" funds will only ensure that you have less money to make a moral difference in... |
If stock price drops by the amount of dividend paid, what is the use of a dividend | There are many reasons for buying stock for dividends. You are right in the sense that in theory a stock's price will go down in value by the amount of the dividend. As the amount of dividend was adding to the value of the company, but now has been paid out to shareholder, so now the company is worth less by the value... |
On a debt collection agency's letter, what does “balance” refer to? | Without more info to go on (such as a screenshot of the relevant portion of the statement or what country you're in), I will run with the answer that "balance" is the amount the collection agency is attempting to collect from you, including any and all fees the agency may have added. One important idea to keep in mind ... |
Are there any Social Responsibility Index funds or ETFs? | Look at the Calvert Funds. They have a variety of "socially responsible" funds with published selection standards. Beware of mixing personal politics with business. |
First time homeowner and getting a mortgage? | Check with you local bank where you have an account. Sometimes they can offer a discount that results in a good rate. I just refinanced a month ago with Bank Of America and their rates were very competitive. What set them aside from the rest was their low closing fees. Otherwise I would shop around on bankrate.com an... |
Tax on insurance payment due to car deemed as total loss? | Generally you do not pay taxes on insurance payouts that occur because of some kind of loss, provided you paid the premiums yourself. "Generally, if you're paying premiums yourself, such as for homeowners insurance and auto insurance, then your insurance benefits are not a taxable event," says Adam Sherman, CEO of Firs... |
Why is auto insurance ridiculously overpriced for those who drive few miles? | First you have to understand that insurance is basically a social system, just with Shareholders. Insurance costs consist of 3 factors: Now, to encourage a low-risk behavior a separating factor is search in the vast amount of statistical data. Drivers experience, miles and type of car being the most common, but also ot... |
Evaluating stocks useless? | Is evaluating stocks just a loss of time if the stock is traded very much? Not at all! Making sound investment decisions based on fundamental analysis of companies will help you to do decide whether a given company is right for you and your risk appetite. Investing is not a zero-sum game, and you can achieve a positive... |
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... |
Is it easier for brokers to find shares to short in premarket? | The shares available to short are a portion of those shares held by the longs. This number is actually much easier to determine outside of active trading hours, but either way doesn't really impact the matter at hand since computers are pretty good at counting things. If your broker is putting up obstacles to your issu... |
Scam or Real: A woman from Facebook apparently needs my bank account to send money | Absolute scam. Any time anyone asks you to open a bank account so they can send you money and then you have to send some portion of it back to them, it's a guarantee that it's a scam. What happens is that your dad will deposit the check and transfer it to this woman, then the check will bounce (or turn out to be fake ... |
Dalbar: How can the average investor lose money? | It appears that there's a confusion between the different types of average. Saying "the average investor" generally means the most common type of small-scale unsophisticated investor - the mode (or possibly median) investor. However, while this class of investors is numerous, each of them has assets that are quite smal... |
Can my spouse be the primary signer on my car's loan? | Go to your local bank or credit union before talking to a dealership. Ask them if putting both names on the loan makes a difference regarding rates and maximum loan you qualify for. Ask them to run the loan application both ways. Having both names on the loan helps build the credit of the spouse that has a lower score.... |
Currency exchange problem | For the purposes of report generation, I would recommend that you present the data in the currency of the user's home country. You could present another indicator, if needed, to indicate that a specific transaction was denominated in a foreign currency, where the amount represents the value of the foreign-denominated t... |
Work on the side for my wife's company | My understanding (I am not a lawyer or tax expert) is that you are not allowed to work for free, but you can pay yourself minimum wage for the hours worked. There are probably National Insurance implications as well but I don't know. The main thing is, though, that if HMRC think that you've set up this system as a tax ... |
Why should we expect stocks to go up in the long term? | The total value of the stock market more or less tracks the total value of the companies listed in the stock market, which is more or less the total value of the US economy (since very few industries are nationalized or dominated by privately held companies). The US economy has consistently grown over time, thanks to t... |
Could there be an interest for a company to make their Share price fall? | I'm sure Nintendo made that statement to stem what will clearly be an upset during the next quarterly report. This statement was simply a reminder to investors to avoid the stick price climbing ever higher only to crash when the financial situation of the company isn't significantly different from the prior quarter. T... |
How to increase my credit score | It's probably important to understand what a credit score is. A credit score is your history of accruing debt and paying it back. It is supplemented by your age, time at current residence, time at previous residences, time at your job, etc. A person with zero debt history can still have a decent score - provided the... |
Auto balancing portfolio through new purchases | Finding the "optimal" solution (and even defining what optimal is) would probably take a lot of searching of all the possible combinations of stocks you could buy, given that you can't buy fractional shares. But I'd guess that a simple "greedy" algorithm should get you close enough. For any given portfolio state, look ... |
Can I open a personal bank account with an EIN instead of SSN? | According to IRS Publication 1635, Understanding your EIN (PDF), under "What is an EIN?" on page 2: Caution: An EIN is for use in connection with your business activities only. Do not use your EIN in place of your social security number (SSN). As you say your EIN is for your business as a sole proprietor, I would also ... |
Should I get a car loan before shopping for a car? | Yes, you are correct to go to the credit union first. Get approved for a loan first. Often, upon approval, the credit union will give you a blank check good for any amount up to the limit of the loan. When you buy the car, make it payable to the dealer, write in the amount and sign it. Enjoy the new car! |
What taxes are involved for LLC in Georgia? | Your best course of action is to gather your paperwork, ask around your personal network for a recommendation for a good CPA, and pay that person to do your taxes (business and personal). Read through the completed package and have them walk you through every item you do not understand. I would continue doing this un... |
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