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Is my wash sale being calculated incorrectly? | According to Wikipedia this is still a wash sale: In the USA wash sale rules are codified in "26 USC § 1091 - Loss from wash sales of stock or securities." Under Section 1091, a wash sale occurs when a taxpayer sells or trades stock or securities at a loss, and within 30 days before or after the sale: |
Where can I find definitive terms for a preferred share? | This site has the best information I could find, other than a Bloomberg terminal: Quantumonline.com QUANTUMONLINE.COM SECURITY DESCRIPTION: SCANA Corp., 2009 Series A, 7.70% Enhanced Junior Subordinated Notes, issued in $25 denominations, redeemable at the issuer's option on or after 1/30/2015 at $25 per share plus... |
Advantages/Disadvantages to refinancing online? | For what its worth, I recently closed on a 30 year refinance mortage with an agent I found through Zillow. The lender has a perfect 5/5 reputation score, whose office was located within 5 miles of my house, and as suggested by justkt on MrChrister's response, I checked out the business on the better business bureau an... |
Must ETF companies match an investor's amount invested in an ETF? | Does the bolded sentence apply for ETFs and ETF companies? No, the value of an ETF is determined by an exchange and thus the value of the share is whatever the trading price is. Thus, the price of an ETF may go up or down just like other securities. Money market funds can be a bit different as the mutual fund company w... |
Annuities question - Equations of value | These are the steps I'd follow: $200 today times (1.04)^10 = Cost in year 10. The 6 deposits of $20 will be one time value calculation with a resulting year 7 final value. You then must apply 10% for 3 years (1.1)^3 to get the 10th year result. You now have the shortfall. Divide that by the same (1.1)^3 to shift the ... |
Where do I invest my Roth IRA besides stock market and mutual funds? | In general, investors with a long period of time until they would need to withdraw the cash are best off holding mostly equities. While the dividends that equities would return are less than the interest you would get in peer-to-peer lending, over long periods of time not only do you get the dividends from equity inve... |
Is it possible to get life insurance as a beneficiary before the person insured dies? | I recall the following business from the AIDS crisis: viatical settlement But because there were life-extending treatments developed in the 1990s, many third parties which engaged in these took a bath and it's not as common. |
Does doing your “research”/“homework” on stocks make any sense? | In fact markets are not efficient and participants are not rational. That is why we have booms and busts in markets. Emotions and psychology play a role when investors and/or traders make decisions, sometimes causing them to behave in unpredictable or irrational ways. That is why stocks can be undervalued or overvalued... |
Should I use regular or adjusted close for backtesting? | If you want to monitor how well you did in choosing your investments you will want to use stock prices that account for the dividends and splits and other changes (not just the closing price). The adjusted close will include these changes where the straight close will not include them. Using the adjusted close you wi... |
What is the US Fair Tax? | In a nutshell - Value Added Tax. America, as usual, discovers what others have known and used for years. The idea of not taxing income that's tied to it is ridiculous. If you're only taxing spending but not income, people will just take spending elsewhere (Canada, Mexico, further away), and the economy will go down the... |
Should I make more conservative investments in my company 401(K) if I'm going to leave the job in a couple of years? | It doesn't make a difference if you will be keeping it in the 401K or transferring it to an IRA, it is still retirement money that you plan on investing for decades. Pre-Enron many employees invested significant amounts of their retirement funds with the employer. One of the risks was that if a single stock was down a... |
What drives the value of a stock? [duplicate] | For XOM if you were lucky enough to purchase on 20 Jan 16, at 73.18/share and sold on 15 July at 94.95 you would achieve a 29% return in six months. Awesome. You'd also get a dividend payment or two adding another percentage point per to your returns. The one year chart for FB shows it increasing from ~95/share to ... |
Would the effects of an anticipated default by a nation be mostly symbolic? | It will affect Greeks as any bankruptcy affects the bankrupt. They already started reducing their welfare policies and government hand-outs. Default would mean that the government isn't able to meet its obligations. It's not only the external obligations, it's also the internal obligations - pensions, social security b... |
What's a good personal finance management web app that I can use in Canada? | CashBase has a web app, an iPhone app and an Android app, all sync'ed up. It doesn't integrate with banks automatically, but you can import bank statements as CSV. Disclosure: Filip is CashBase's founder. |
Disputing Items to Improve Credit Report | Disputing the remark seems unlikely to move your score, since it is just that -- a remark. It's hard to say whether the scoring models can/do read the remarks and incorporate them (somehow) into the scoring metric itself. Disputing the revolving account that should be reported as closed is a different matter. The que... |
What should I do with $4,000 cash and High Interest Debt? | If we're including psychological considerations, then the question becomes much more complicated: will having a higher available credit increase the temptation to spend? Will eliminating 100% of a small debt provide more positive reinforcement than paying off 15% of a larger debt? Etc. If we're looking at the pure fina... |
Advice on low-risk long-term strategy for extra cash? | Congratulations on being in such good financial state. You have a few investment choices. If you want very low risk, you are talking bonds or CDs. With the prime rate so low, nobody is paying anything useful for very low risk investments. However, my opinion is that given your finances, you should consider taking on ... |
Dollar Cost Averaging (Or value averaging) vs Lot sizes, what am I missing? | Don't take it so literally. 100 is close to 98, so if your formula calls for 98, buy 100. |
Is it safe to accept money in the mail? | Another option is to set up an accoutn with Western Union Bill Payment Solutions, where your customer could go to one of their locations and pay in cash and then the cash is transferred to your account. See "Walk in Cash Payments" on their site. |
How to become an investment banker? | Since you are only 16, you still have time to mature what you will do with your life, always keep your mind opend. If you are really passionated about investement : read 1 book every week about investement, read the website investopedia, financial time, know about macro economic be good a math in school, learning codin... |
Does getting a 1099 from another state count as working in another state if I was physically in my home state? | This depends on the state law. In case of the State of New York - these are the criteria for sourcing the NY income: As a sole proprietor or partnership, your New York source income includes: Business activities As a nonresident sole proprietor or partnership, you carry on a business, trade, profession, or occupati... |
What would I miss out on by self insuring my car? | One way to look at insurance is that it replaces an unpredictable expenses with a predictable fees. That is, you pay a set monthly amount ("premium") instead of the sudden costs associated with a collision or other covered event. Insurance works as a business, which means they intend to make a substantial profit for pr... |
How do I know if my mutual fund is compounded? | When we talk about compounding, we usually think about interest payments. If you have a deposit in a savings account that is earning compound interest, then each time an interest payment is made to your account, your deposit gets larger, and the amount of your next interest payment is larger than the last. There are co... |
How can I borrow in order to improve a home I just bought? | It depends on your equity(assets - liabilities). If you have a lot of equity, banks will be happy to lend you money because they now they can always seize your assets. If you don't have a lot of equity another option is to go to hard money lenders. They charge high rates and some of them lend-to-own, but is an option.... |
What type of insurance would protect you against the Amazon 1p bug? | I believe the appropriate recourse in this scenario is to bring a court case for breach of contract. The 1p repricing issue has been admitted as an error out of scope of the purpose of the software. |
How to save money for future expenses | My answer will suck but it comes from someone who has been married: You can't control another person or convince them to do something. What you can do is identify what they value and show how saving money increases their opportunities in what they value, but understand that the person could see what you're saying as i... |
How should I save money if the real interest rate (after inflation) is negative? | (Real) interest rates are so low because governments want people to use their money to improve the economy by spending or investing rather than saving. Their idea is that by consuming or investing you will help to create jobs that will employ people who will spend or invest their pay, and so on. If you want to keep thi... |
What is a trust? What are the different types of trusts? | From a more technical point of view, a trust is a legal relationship between 3 parties: Trusts can take many forms. People setup trusts to ensure that property is used in a specific way. Owning a home with a spouse is a form of a trust. A pension plan is a trust. Protecting land from development often involves placing ... |
What's the catch in investing in real estate for rent? | Don't over analyze it - check with some local landlords that are willing to share some information and resources Then analyze the Worst Case Scenarios and the likelihood of them happening and if you could deal with it if it did happen Then Dive In - Real Estate is a long term investment so you have plenty of time to l... |
Why do stocks go up? Is it due to companies performing well, or what else? [duplicate] | Remember that shares represent votes at the shareholders' meeting. If share price drops too far below the value of that percentage of the company, the company gets bought out and taken over. This tends to set a minimum share price derived from the company's current value. The share price may rise above that baseline if... |
Can signing up at optoutprescreen.com improve my credit score? | If you are the type of person that gets drawn in to "suspect" offers, then it is conceivable that if you are not signing the services offered your credit would be improved as your long term credit strengthens and the number of new lines of credit are reduced. But if you just throw it all away anyway then it is unlikely... |
Is SIPC coverage on cash as strong as FDIC? | For cash, SIPC insurance is similar to FDIC insurance. Your losses are not covered, but you're covered in case of fraud. Since your cash is supposed to be in a trust account and not commingled with brokerage's funds, in case of bankruptcy you would still have your cash unless there was fraud. |
Pros and cons of using a personal assistant service to manage your personal finances? | Not knowing anything about your situation or what makes it so complex, I would have to agree with the other commenters. If your accountant screws up your business goes under, but at least your personal finances are safe from that and you'll recover (unless all your wealth is tied up in your business). If your virtual... |
What are some examples of unsecured loans | Unsecured loan is any loan that you don't provide an asset as a collateral for. Auto loans are usually secured - by the auto. If you don't pay off the car, it will be repossessed. Credit cards are a good example, personal/business loans are also usually unsecured, and you've pretty much covered it. Majority of loans, e... |
4 months into a 30 month car loan, need new engine, can't sell any body parts | Without knowing the details of your financial situation, I can only offer general advice. It might be worth having a financial counselor look at your finances and offer some custom advice. You might be able to find someone that will do this for free by asking at your local church. I would advise you not to try to get... |
Why call option price increases with higher volatility | The entire premise of purchasing a call option is your expectation that the prices will rise. So even though there is a possibility of prices falling, you wouldn't mind paying higher premiums in a volatile market for a call option because you're bullish and are expecting the volatility to eventually turn out in your f... |
UK Limited Company paying third party medical costs | One possibility to consider would be making an arrangement with a registered UK charity where you would donate the necessary amount for the specific purpose of covering medical costs of that particular person. Charitable donations are expressly deductible from business profits. Some charities may be genuinely inter... |
Making your first million… is easy! (??) | It is difficult to become a millionaire in the short term (a few years) working at a 9-to-5 job, unless you get lucky (win the lottery, inheritance, gambling at a casino, etc). However, if you max out your employer's Retirement Plan (401k, 403b) for the next 30 years, and you average a 5% rate of return on your investm... |
What is the US Fair Tax? | You asked about the challenges. The transition itself is the biggest one. For people to get used to the tax at the register vs at their paycheck. For a great number of people to find new work. I don't know the numbers, but anyone involved with personal income taxes would be out of work. Sales tax is already part of the... |
Is it better to miss the dividend and buy the undervalued stock? | The stock tends to drop by the amount of the dividend -- or if you prefer to think of it this way, the stock price has been pushed up by the amount of the dividend before it was paid out. Really, all this shift does is factor out the impending dividend's effect on the real purchase cost of the stock. As such it's prett... |
Where to borrow money between college graduation and employment? | You have a few options, none of which are trade off free: Apply for a credit card, and live off of that. Here, of course, you will go into debt, and there are minimums to pay. But, it will tide you over. In any case, you are getting unsecured credit, so your rates will probably be very, very high. You don't want t... |
How can I legally and efficiently help my girlfriend build equity by helping with a mortgage? | Have her chip in for the regular expenses, utilities, food, etc., and a bit for "rent." Then tell her to be sure to deposit to her retirement account, preferably a matched 401(k). It's admirable to want her to build 'equity' but it's pretty convoluted. You can't actually give her ownership, and in the event you break ... |
Sell or keep rental Property? | Sell the house, in the scenario you describe he is using the property as an investment with a $250 per month buy-in. This investment doesn't make a return right now and when you add in the cost of dealing with the tenant (even if he doesn't have those cost now, he will when they move out)he is out of more than $250 a m... |
Withdrawing large sums of money | This is determined by each banking institution. In general, if making the withdrawal in person, the limit is based on what you have in your account, but many ask for advance notice when withdrawing more than $5000. They may still allow a larger withdrawal without notice, but usually have a policy in place and will te... |
Paying extra on a mortgage. How much can I save? [duplicate] | How much can I save? Depends on inflation and what other investment opportunities you have. It could end up costing you millions. Can I pay $12,000 extra once a year or $1000 every month - which option is better? It depends on how risk adverse you are. The first option does sound better, but for a 30 year mortgage, i... |
Why are American-style options worth more than European-style options? | If you're into math, do this thought experiment: Consider the outcome X of a random walk process (a stock doesn't behave this way, but for understanding the question you asked, this is useful): On the first day, X=some integer X1. On each subsequent day, X goes up or down by 1 with probability 1/2. Let's think of buyin... |
How to calculate years until financial independence? | In this equation the withdrawal rate is the percent you must pull from your savings to meet your expenses. For example if your savings is $100,000 and you need $10,000 annually for your living expenses then your withdrawal rate would be 10% (where 10k is 10% of 100k). To complete this formula, you need to know how muc... |
What's the point of Ford loosening financing requirements? | A repossessed automobile will have lost some value from sale price, but it's not valueless. They market "title loans" to people without good credit on this basis so its a reasonably well understood risk pool. |
Best way to invest money as a 22 year old? | What is the goal of the money? If it is to use in the short term, like savings for a car or college, then stick it in the bank and use it for that purpose. If you really want this money to mean something, then in my opinion you have only one choice: Open a ROTH IRA with something like Vanguard or Fidelity and invest ... |
How much should a new graduate with new job put towards a car? | Money is a token that you can trade to other people for favors. Debt is a tool that allows you to ask for favors earlier than you might otherwise. What you have currently is: If the very worst were to happen, such as: You would owe $23,000 favors, and your "salary" wouldn't make a difference. What is a responsible amou... |
How much more than my mortgage should I charge for rent? | I am sorry to say, you are asking the wrong question. If I own a rental that I bought with cash, I have zero mortgage. The guy I sell it to uses a hard money lender (charging a high rate) and finances 100%. All of this means nothing to the prospective tenant. In general, one would look at the rent to buy ratio in the ... |
How does a 2 year treasury note work? | Notes and Bonds sell at par (1.0). When rates go up, their value goes down. When rates go down, their value goes up. As an individual investor, you really don't have any business buying individual bonds unless you are holding them to maturity. Buy a short-duration bond fund or ETF. |
If someone gives me cash legally, can my deposit trigger an audit for them? | Yes you should worry and take care not to violate the law or provide any appearance of impropriety. Every bank in the USA is required under the Bank Secrecy Act to report cash transactions over $10,000 the same day to the IRS -- and here's the fun secret part -- without notification to the depositor. But splitting ... |
Should I participate in a 401k if there is no company match? | I believe @Dilip addressed your question alread, I am going to focus on your second question: What are the criteria one should use for estimating the worth of the situation? The criteria are: I hope this helps. |
For how long is a draft check valid, and where do the funds sit? | A bank check is drawn on the bank itself. You gave the bank the funds backing that check at the time you purchased it. You can not get that money back except by returning the check to them. So, yes, effectively that check behaves like cash; the money us already gone from your account, and once you hand it over you can'... |
I am a contractor with revenue below UK's VAT threshold. Should I register for VAT? | (1) Should I register for VAT? – If it is below the threshold amount it is purely voluntary. If you register for VAT, you would have to charge VAT and then do returns every quarter. If you can take up this bit of hassle, it doesn't make much of a difference. One thing you need to consider: you get 1% discount during y... |
How long do credit cards keep working after you disappear? | how can I keep my website running for posterity after I die? If this is the real problem, incorporate a non-profit corporation or have a lawyer set up a foundation. Those will survive after your death and their bank accounts with them. You might even find someone willing to do this for you. It sounds like a neat ... |
Fundamentals of creating a diversified portfolio based on numbers? | Most of the “recommendations” are just total market allocations. Within domestic stocks, the performance rotates. Sometimes large cap outperform, sometimes small cap outperform. You can see the chart here (examine year by year): https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh... |
What is approximate tax deduction for this scenario? | House rent allowance:7500 House Rent can be tax free to the extent [less of] Medical allowance : 800 Can be tax free, if you provide medical bills. Conveyance Allowance : 1250 Is tax free. Apart from this, if you invest in any of the tax saving instruments, i.e. Specified Fixed Deposits, NSC, PPF, EPF, Tution Fees, EL... |
How do you declare revenues from YouTube earnings in the USA if you are a minor? | If you receive a 1099-MISC from YouTube, that tells you what they stated to the IRS and leads into most tax preparation software guided interviews or wizards as a topic for you to enter. Whether or not you have a 1099-MISC, this discussion from the IRS is pertinent to your question. You could probably elect to report ... |
I received a share of Apple stock. Now what? | Congratulations! You own a (very small) slice of Apple. As a stockholder, you have a vote on important decisions that the company makes. Each year Apple has a stockholder meeting in Cupertino that you are invited to. If you are unable to attend and vote, you can vote by proxy, which simply means that you register yo... |
Should I pay a company who failed to collect VAT from me over 6 months ago? | Note: I am not a lawyer. This is my personal opinion and interpretation. First, your source is European Law, which obviously doesn't apply outside of the EU. The EU cannot make laws that bind entities in other countries; so you cannot claim that the VAT was needed to be mentioned. Second, if you owe something, you owe ... |
US Tax Form 1040EZ: Do I enter ALL income or ONLY income specified in W-2 forms? | Yes, you need to include income from your freelance work on your tax return. In the eyes of the IRS, this is self-employment income from your sole-proprietorship business. The reason you don't see it mentioned in the 1040EZ instructions is that you can't use the 1040EZ form if you have self-employment income. You'll ... |
What's the most conservative split of financial assets for my portfolio in today's market? | The safest place to put money is a mixture of cash, local municipal bond funds with average durations under two years and US Treasury bond funds with short durations. Examples of good short term US municipal funds: I'm not an active investor in Australian securities, so I won't recommend anything specific. Because rat... |
What to bear in mind when considering a rental home as an investment? | Started to post this as a comment, but I think it's actually a legitimate answer: Running a rental property is neither speculation nor investment, but a business, just as if you were renting cars or tools or anything else. That puts it in an entirely different category. The property may gain or lose value, but you don'... |
How do I keep an S-Corporation open when it has no revenues | If you have no net income or loss, you can usually get away without filing a tax return. In Illinois, the standard is: Filing Requirements You must file Form IL-1120 if you are a corporation that has net income or loss as defined under the IITA; or is qualified to do business in the state of Illinois and is requ... |
$200k in an IRA, unallocated. What's the safest investment? | The safest investment is probably a money market fund [originally I said a TIPS fund but they appear to be riskier than I had thought]. But you might not want to invest everything there because the returns are not going to be great. High returns come with high risk. The best portfolio has some percentage (which may b... |
Mortgage refinancing | Check the terms of your mortgage. If you are in a fixed-term mortgage, you can likely "over-pay" a fixed amount of the capital each year: typically 10%. Eg if you owe £300,000 on the mortgage, you can pay off an additional £30,000 this year. Next year you'd owe something like £260,000 so could pay off £26,000. You'd ne... |
Iraqi Dinars. Bad Investment, or Worst Investment? | Iraq is a US vassal/puppet state. I'm not sure what 500 South Vietnamese Dong were worth in 1972, but today the paper currency is worth $10 in mint condition. I'd suggest blackjack or craps as an alternate "investment". |
Where can I find a good online fundamental data provider for Hong Kong stocks? | Check out WorldCap.org. They provide fundamental data for Hong Kong stocks in combination with an iPad app. Disclosure: I am affiliated with WorldCap. |
Is there any instance where less leverage will get you a better return on a rental property? | If you are calculating simple ROI, the answer is straightforward math. See This Answer for some examples, but yes, with more leverage you will always see better ROI on a property IF you can maintain a positive cash flow. The most complete answer is to factor in your total risk. That high ROI of a leveraged property i... |
Can value from labor provided to oneself be taxed? | This is called imputed income, which is generally not taxed in the US. |
Is there a generally accepted term for fractions of Currency Units? | of course if you asked me to give you $24.4955 I can't. No, but if I asked you to give me $24.4955 and you gave me a piece of paper saying "I O U $24.4955", and then this happened repeatedly until I had collected 100 of these pieces of paper from you, then I could give them back to you in exchange for $2449.55 of curre... |
Are there any Social Responsibility Index funds or ETFs? | There is the iShares Jantzi Social Index Fund. |
Are warehouse clubs like Costco and Sam's Club worth it? | Silly as it sounds, we belong to both BJ's and Sam's club (we don't have Costco in this area). The produce at our local Sam's is top-notch, especially in the winter. The prices on fruit there are unbeatable in the winter time, and more than cover the membership cost. I also find the price/quality of canned/box grocery... |
Why must identification be provided when purchasing a money order? | The Bank Secrecy Act of 1970 requires that banks assist the U.S. Gov't in identifying and preventing money laundering. This means they're required to keep records of cash transactions of Negotiable Instruments, and report any such transactions with a daily aggregate limit of a value greater than (or equal to?) $10,000.... |
Any experience with maxing out 401(k)? | Don't forget to also build up an emergency fund - retirement saving is important, but you don't want to be caught in a situation where you need money for an emergency (lose your job, get hit by a bus, etc.) and it's all locked away in your 401(k). |
Are there any countries where citizens are free to use any currency? | If I understand correctly, you're actually asking why there isn't a society whose members generally accept/use any currency for transactions, and just like, Google the exchange rate or something. The answer is because it's exceptionally inconvenient. Can you imagine having a wallet with 200 pouches for all the differ... |
Are there any statistics that support the need for Title Insurance? | I'm really surprised at the answers here. Claims/year per region isn't a statistic that is meaningful here... you need to think about the risk factors and the purpose of the insurance. First, what does title insurance do? It protects you against defects in the deed -- defects that may crop up and mean that your mortgag... |
Using simple moving average in Equity | A shorter term MA would be used for short term changes in price whilst a long term MA would be used for longer term movements in price. A 200 day SMA is widely used to determine the trend of the stock, simply a cross above the 200 day SMA would mean the stock may be entering an uptrend and a cross below that the price... |
Friend was brainwashed by MLM-/ponzi investment scam. What can I do? | Even though this is really a psychology question, I'll try to give you an answer. You do nothing but stay away. What's going on is too small to matter. Bernie Madoff took investor's money and scammed them for $15B. That's B, billion, 9 zeros (Yes, I realize the UK Billion has 12, these are US Billion). Harry Markopolo... |
How is initial stock price (IPO) of a stock determined | Who determines company value at IPO? The Owners based on the advice from Lead Bankers and other Independent auditors who would determine the value of the company at the time of listing. At times instead of determining a fixed price a range is given [lower side and higher side]. The Market participants [FI / Institution... |
Is threatening to close the account a good way to negotiate with the bank? | Take your business elsewhere, where the products and services are priced at a level you agree to pay. This does two things. First, you end a bad business relationship. Why bad? Because you're not happy with the deal. Second, it sends an unambiguous signal to the losing bank that you were unhappy with their service... |
Be a partner, CTO or just a freelancer? | Being a CTO is different than freelancing, obviously. You have to ask yourself what you would more prefer to do! My initial recommendation would be to receive your normal freelance compensation for the freelance work you do AND separately deal with the issue of being a CTO. At some point you will cease to be this pro... |
Sites to obtain historical chart of currency exchange rates? | OANDA has a free online tool (a Java applet) that will do what you're asking. Description: Currency Graph FXGraph: Plot the change between two currencies over any time period Make a customized graph of historical exchange rates for two of over 190 currencies, for any time period since 1990. [...] Visit C... |
Are Index Funds really as good as “experts” claim? | Simply put, you cannot deterministically beat the market. If by being informed and following all relevant news, you can arrive at the conclusion that company A will likely outperform company B in the future, then having A stocks should be better than having B stocks or any (e.g., index based) mix of them. But as the wh... |
Will a credit card issuer cancel an account if it never incurs interest? | Remember, the card company gets a percentage at the time of purchase, as well as any interest you let them collect from you. Yes, they're still making a profit on our accounts, and they can always hope that at some point we'll run up a high enough bill to be willing to pay some interest. They may kill completely inacti... |
Are account holders with a bank better able to receive a loan from that bank? | Banks are businesses, and as such should have the right to refuse service, so they should probably be able to choose one customer over another at will. [I say "should" because business owners protecting themselves against litigation related to discrimination could restrict their freedom as business owners.] However, ... |
1040 Schedule A Un-Reimbursed Business Expense Reporting | It would be unusual but it is possible that the expenses could be very high compared to your income. The IRS in pub 529 explains the deduction. You can deduct only unreimbursed employee expenses that are: Paid or incurred during your tax year, For carrying on your trade or business of being an employee, and Ordinary an... |
How should I handle taxes for Minecraft server donations? | Its is considered a "hobby" income, and you should be reporting it on the 1040 as taxable income. The expenses (what you pay) are hobby expenses, and you report them on Schedule A (if you itemize). You can only deduct the hobby expenses to the extent of your hobby income, and they're subject to the 2% AGI threshold. |
Why do some online stores not ask for the 3-digit code on the back of my credit card? | There are different ways of credit card purchase authorizations. if some choose less secure method it's their problem. Merchants are charged back if a stolen card is used. |
Should I buy or lease a car given that its not a super luxury car and I only drive 15 miles/d on avg? | Which to do is determined by how you like to consume cars. If you don't drive a lot and like to get a new car every 2-3 years, leasing is often the better choice. If you drive a lot or want to keep a car longer than 3 years, you're normally better buying. |
Investment for young expatriate professionals | That's a broad question, but I can throw some thoughts at you from personal experience. I'm actually an Australian who has worked in a couple of companies but across multiple countries and I've found out first hand that you have a wealth of opportunities that other people don't have, but you also have a lot of problem... |
How can I set up a recurring payment to an individual (avoiding fees)? | Ask your bank or credit union. Mine will let me issue recurring payments to anyone, electronically if they can, if not a check gets mailed and (I presume) I get billed for the postage. |
Option spreads in registered accounts | From my own personal experience, you cannot trade spreads in RRSP or TFSA accounts in Canada. You can only buy options (buy a call or buy a put) or you can sell calls against your stock (covered call selling). You will not be able to sell naked options, or trade any type of spread or combo (calendars, condors, etc). I ... |
Why is the dominant investing advice for individuals to use mutual funds, exchanged traded funds (ETFs), etc | Why is that? With all the successful investors (including myself on a not-infrequent basis) going for individual companies directly, wouldn't it make more sense to suggest that new investors learn how to analyse companies and then make their best guess after taking into account those factors? I have a different perspec... |
Income tax on my online drop-shipping business (India) | Please consult a tax advisor. You may be voilating the FEMA [Foreign Exchange Management Act] and can land into trouble. Further what you are doing can land up into various other acts as illegal including AML. Further if there is income generated by Indian citizen in India, he is still liable to pay tax, irrespect... |
Why does it seem unnecessary to fully save for irregular periodic expenses? | If you just had one expense once a year of $1200, you would put in $100 a month. The average balance is going to be $600 in that case - the 0 and $1200 months average to $600, as do the $100 and $1100, the $200 and $1000, and so on. If you had one expense twice a year of $600 and put in $100 per month it will average t... |
I spend too much money. How can I get on the path to a frugal lifestyle? | As others have said, doing a monthly budget is a great idea. I tried the tracking expenses method for years and it got me nowhere, I think for these reasons: If budgeting isn't your cup of tea, try the "pay yourself first" method. Here, as soon as you get a paycheck take some substantial portion immediately and use i... |
Does the Black-Scholes Model apply to American Style options? | The difference between an American and European option is that the American option can be exercised at any time, whereas the European option can be liquidated only on the settlement date. The American option is "continuous time" instrument, while the European option is a "point in time" instrument. Black Scholes appli... |
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