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Do I need to keep paper records for my business? | Scanned or electronic copies of invoices should be sufficient as long as they are accurate and you can deliver them during an audit. Also, if you have an accountant prepare your taxes you would either need to provide them a copy of the invoices or a summary of them with the corresponding amounts to be claimed. Personal... |
Is there such a thing as a deposit-only bank account? | Legally, no one else can withdraw from your account. If you suspect the direct-deposit websites are making withdrawals, you can monitor your account balance and dispute any transactions that were not made by you. But realistically, any company that did that would soon be out of business and in so much legal trouble tha... |
Help required on estimating SSA benefit amounts | Some details in case you are interested: Being a defined benefit kind of pension plan, the formula for your Social Security benefits isn't tied directly to FICA contributions, and I'm not aware of any calculator that performs an ROI based on FICA contributions. Rather, how much you'll get in retirement is based on your... |
How can I avoid international wire fees or currency transfer fees? | Be aware that ATM withdrawals often generate hidden fees, which are not obviously declared. Many banks operate e.g. with a currency exchange fee, giving you an exchange rate some 1-2% lower than actually applicable. If you withdraw larger amounts, such a currency exchange fee easily adds up to what you would have paid ... |
Are you preparing for a possible dollar (USD) collapse? (How?) | I'd like to provide ideas other than gold, stocks, property, bonds on how to prepare for a severe crisis. My suggestions below may even make your life more happy now. |
Paying taxes on dividends even though your capital gains were $0? | I'd agree that this can seem a little unfair, but it's an unavoidable consequence of the necessary practicality of paying out dividends periodically (rather than continuously), and differential taxation of income and capital gains. To see more clearly what's going on here, consider buying stock in a company with extrem... |
If I make over 120k a year, what are my options for retirement plans? | You can contribute to a Traditional IRA instead of a Roth. The main difference is a contribution to a Roth is made with after tax money but at retirement you can withdraw the money tax free. With a Traditional IRA your contribution is tax-deductible but at retirement the withdrawal is not tax free. This is why most ... |
Does FIFO cost basis applies across multiple accounts? | To sum up: My question came from misunderstanding what cost basis applies to. Now I get it that it applies to stocks as physical entities. Consider a chain of buys of 40 stock A with prices $1-$4-$10-$15 (qty 10 each time) then IRS wants to know exactly which stock I am selling. And when I transfer stocks to different ... |
2 401k's and a SEP-IRA | Please note that if you are self employed, then the profit sharing limit for both the SEP and Solo 401(k) is 20% of compensation, not 25%. There is no need for a SEP-IRA in this case. In addition to the 401(k) at work, you have a solo-401(k) for your consulting business. You can contribute $18,000 on the employee sid... |
The difference between Islamic Banks and Western Banks | I'm not sure of the theological basis against usury in sharia law. IIRC, sharia forbids excess compensation, and the modern interpretation of this includes interest. Rules about banking are common in religious faiths. The Catholic church viewed interest as the "selling of time", and since time is a force controlled by... |
Tax implications of restricted stock units | RSU are taxed when vested, based on their value at that point, as salary. If you don't sell to cover, you need to pay the taxes, if you sell to cover - you sell the portion that is worth the taxes (brokers do that automatically, and remit the taxes on your behalf). Once paid your taxes, it becomes a regular stock posit... |
How to invest in a currency increasing in value relative to another? | What you're looking for are either FX Forwards or FX Futures. These products are traded differently but they are basically the same thing -- agreements to deliver currency at a defined exchange rate at a future time. Almost every large venue or bank will transact forwards, when the counterparty (you or your broker)... |
Deciding between Employee Stock Option and Restricted Stock | There's no best strategy. Options are just pieces of paper, and if the stock price goes below the strike price - they're worthless. Stocks are actual ownership share, whatever the price is - that's what they're worth. So unless you expect the company stock prices to sky-rocket soon, RSU will probably provide better val... |
Are 'no interest if paid in in x months' credit cards worth it? | It has been reported in consumer media (for example Clark Howard's radio program) that the "no interest for 12 months" contracts could trick you with the terms and the dates on the contract. Just as an example: You borrow $1000 on 12/1/2013, same as cash for 12 months. The contract will state the due date very clearly... |
Why do 1099 forms take so long for brokerages to prepare and send out? | There are probably many correct answers to this question, but for most people, the main reason is qualified dividends. To be a qualified dividend (and therefore eligible for lower tax rates), the dividend-paying stock or fund must be held for "more than 60 days during the 121-day period that begins 60 days before the e... |
What's a normal personal debt / equity ratio for a highly educated person? | Average person's life I'm going to say there is no normal debt level. Here's the standard life pattern: So it really depends on your situation, it's way too spread out to quote a "normal" figure. Cost of debt vs Gain from assets and Risk of income You need to strike a sweet spot based on: Someone who is more educated i... |
Any specific examples of company valuations according to Value Investing philosophy? | Buffet is in a different league from other value investors. He looks for stable companies with no debt and good management. Then he looks to deeply understand the industries of candidate companies, and looks for companies that are not in commodity businesses or sell commodities that can be bought for 25% of the valuati... |
How safe is a checking account? | US checking accounts are not really secure, though many people use them. One form of check fraud has been highlighted by Prof. Donald Knuth and carried out by Frank Abagnale, as portrayed in the film Catch Me If You Can. Basically, anyone can write a check that would draw from your account merely by knowing your accoun... |
What is the meaning of Equal Housing Lender? Do non-banks need to display it? | At the top result of the Google search, on the Google results page it's sumarized as applicable to every lender participating in FDIC: The terms equal housing lender and equal opportunity lender are synonymous and refer to all banks insured by the Federal Deposit Insurance Corporation in the United States. Such banks a... |
Are car buying services worth it? | I have used car buying services through Costco and USAA. Twice with a Ford, and once with a Honda. In all instances I was directed to sales people that were uncommonly friendly and pleasant to work with. I was given a deep discount without any negotiation. In two of the three cases I did not have a trade. In one c... |
Should you co-sign a personal loan for a friend/family member? Why/why not? | Yes, there are times when co-signing is the right choice. One is when you know more about the person than the loan issuer does. Consider a young person who has just started working in a volatile field, the kind of job where you can be told on Friday that you only get one shift next week but things might pick up the wee... |
How do dividends of the underlying security in a security futures contract affect the security futures price? | The price of a future with an underlying that pays dividends is As you can see, since the value of dividends is subtracted from the value of the underlying equity, the future's price is lowered if dividends rise. Compounding that effect with the dividend effect on equity prices, reducing their prices, the future shoul... |
How do you invest in real estate without using money? | I have a friend who had went on a seminar with FortuneBuilders (the company that has Than Merrill as CEO). He told me that one of the things taught in that seminar was how to find funding for the property that you want to flip. One of the things he mentioned was that there are so-called "hard money" lenders who are wil... |
How can I tell if this internet sales manager is telling me the real “true cost” of a new car to the dealer | Consumer Reports offers a service that can tell you detailed actual cost to a dealer for a specific model and accessories -- real cost after rebates, not just invoice price. It costs a bit to order these reports, but if you are serious about buying a new car they are a highly recommended tool -- cu is independent and w... |
Should we prepay our private student loans, given our particular profile? | You're doing great. I'd suggest trying get putting 5-10% towards your retirement and the balance to the student loans. You are a little weak in retirement savings, but you have $550k house with 20% equity that you bought at the bottom of the market. That's a smart investment IMO, and in my mind compensates somewhat fo... |
T-mobile stock: difference between TMUSP vs TMUS | The difference between TMUSP and TMUS is that the "with P" ticker is for a TMobile Preferred Stock offering. The "without P" ticker is for TMobile common stock. The difference between the apparent percentage yields is due to Yahoo! Stock misreporting the dividend on the preferred stock for the common stock, which has... |
Everyone got a raise to them same amount, lost my higher pay than the newer employees | The same thing happened to me when I worked retail during my college years. I agree that it is unfair however, it is what it is. With that being said, there may be several factors that you should consider: the new employees might have more experience or qualifications then you, your work performance based on your manag... |
Why is it good to borrow money to buy a house? | In most cases of purchases the general advice is to save the money and then make the purchase. Paying cash for a car is recommended over paying credit for example. For a house, getting a mortgage is recommended. Says who? These rules of thumb hide the actual equations behind them; they should be understood as heu... |
Opening 5 credit cards at once with no history to ruin, is it a good idea? | I would not call this a "good" idea. But I wouldn't necessarily call it a bad idea either. Before you even consider it, you need to do a little bit of soul searching. If there is ANY chance that having multiple credit cards could entice you to spend more than you otherwise would, then this is definitely a bad idea. Avo... |
Can preventive health checkup be claimed as a separate expense from medical expenses? | There are 2 different things, As per IT Act, one can get "Medical Reimbursement" upto Rs 15,000 which is tax free. The way it is supposed to work is an employee submits bill and employer will "Reimburse" upto Rs 15,000. So if one does not submit any bills, he does not get any money. If the employer has given the employ... |
How does the currency between countries relate | It's called correlation. I found this: http://www.forexrazor.com/en-us/school/tabid/426/ID/437424/currency-pair-correlations it looks a good place to start Similar types of political economies will correlate together, opposite types won't. Also there are geographic correlations (climate, language etc) |
Start Investing - France | I am not interested in watching stock exchange rates all day long. I just want to place it somewhere and let it grow Your intuition is spot on! To buy & hold is the sensible thing to do. There is no need to constantly monitor the stock market. To invest successfully you only need some basic pointers. People make it lo... |
How can a U.S. citizen open a bank account in Europe? | Each country will have different rules. I can only speak about the Netherlands. There, there are two options as a resident to open an account. You needed a BSN (Dutch ID number) or a strong reference from an international company sponsoring your residence there at a bank branch that dealt frequently with foreign cust... |
How can a person with really bad credit history rent decent housing? | This tale makes me sad the more I learn of it. I am impressed with your dedication and caring for your ex-wife and particularly your kids; you seem like a good person from your questions. But you are tired and exasperated too. You have every right to be. The problem isn't how this woman can rent a new apartment (whi... |
Is it safer to send credit card number via unsecured website form or by e-mail? What safer options are there? | Buy a prepaid gift card, such as a MasterCard or Visa gift card. You can find them at the grocery store, a pharmacy, or your local bank. Provide this on their online form. If anyone steals your gift card information, you will have already used the funds for your purchase and there is no further risk to you. |
Options liquidity and trading positions larger than the daily volume? | You definitely cannot be guaranteed to get the bid or ask if you are selling more than are available/desired at those prices. What prices you do get depends on who is watching that contract and how willing they are to trade with you. This question is not much different from the question of whether you can easily get in... |
What's the difference between Term and Whole Life insurance? | Whole life is life insurance that lasts your whole life. Seriously. Since the insurance company must make a profit, and since they know they will always pay out on a whole life policy, whole life tends to be very expensive, and has lower "death" benefits than a term policy. Some of these policies are "paid-up" policie... |
FTB sent refund check for 2011 during audit; Does this really mean that whole audit is over for 2011? | Not it doesn't, and yes they can. If the audit is closed, you should have received invitation to attend the closing conference, and get the summary of decisions from that meeting in writing. I suggest you check with your tax representative about this refund check before cashing it. |
PayPal wants me to “add a bank account”, another funding source. Credit card isn't working. Why? | I'm guessing that you've reached the value limit of a payment that can be made without linking your account to a bank account. While you want privacy, PayPal wants to not be a money launderer. You may need to seek an alternative way to pay for this if you're trying to be private about it. |
Work as a contractor for my current employer rather than become a full time employee after my graduation for health insurance continued coverage | There are several assumptions you made, that don't match the current laws: Costs: COBRA: |
When is Cash Value Life Insurance a good or bad idea? | The standard answer I have heard is that if you were to purchase term life insurance and invest the difference between the cost of the policies, your investments would grow larger than the cash value of the insurance. Also when you take cash out of CVLI the insurance value drops by a like amount. So you can't have your... |
How can I work out how much a side-job contracting will be taxed for? | Being self-employed, your "profit" is calculated as all the bills you send out, minus all business-related cost that you have (you will need a receipt for everything, and there are different rules for things that last for long time, long tools, machinery). You can file your taxes yourself - the HRS website will tell y... |
Why do VAT-registered businesses in the EU charge VAT to each other? | Not doing this would defeat the entire purpose of a VAT. The reason for a VAT rather than a simple sales tax is that it's harder to evade. Having a simple sales tax with the type of rates that VAT taxes typically are is unworkable because evasion is too easy. Imagine I'm a retailer. I buy products from a wholesaler and... |
What ETF best tracks the price of gasoline, or else crude oil? | Do not buy any commodity tracking ETF without reading and understanding the prospectus. Some of these things get exposure to the underlying commodity via swaps or other hocus-pocus derivatives, so you're really buying credit obligations from some bank. Others are futures based, and you need to understand your potential... |
What is the difference between a check and a paycheck? | A paycheck is simply a check for your salary. It's just like a rent check, or a birthday check, or a grocery check... I've had "paychecks" that were personal checks from the owner of the business, I've had ones that are printed in the office I worked in and signed right there, and I've had paychecks that are printed ... |
Should I finance a new home theater at 0% even though I have the cash for it? | Be very careful with this. When we tried this with furniture, they charged an "administrative" fee to setup the account. I believe it was about $75. So if you defer interest for one year on a $1000 purchase and pay a $75 administrative fee, it's 7.5% interest. Also, they don't always send you a bill when it's due, t... |
Buy Php in Malaysia and sell to Philippines | basically the selling (for banks) means you will exchange PHP to MYR buying simply MYR to PHP the bank will buy your MYR in exchange to PHP. and you will sell your MYR to PHP. I think it has something to do with processing fee.. |
Can the Philadelphia Center City District Tax be deducted on my Schedule-A? | My basic rule of thumb is that if the the bill come from a government office of taxation, and that if you fail to pay the amount they can put a tax lien on the property it is a tax. for you the complication is in Pub530: Assessments for local benefits. You cannot deduct amounts you pay for local benefits that tend t... |
Why would you elect to apply a refund to next year's tax bill? | It is a bad deal. It saves the government from processing your refund as a check or an ACH deposit, and lets them keep your money -- money that they overwithheld! -- interest-free for another year. Get it back. :) |
Are online mortgage lenders as good as local brick-and-mortar ones? | At least five of my co-workers are currently re-financing through Amerisave. Four have had a wonderful experience. The fifth has been dealing with a representative who constantly misunderstands him, asks for duplicate paperwork, and is in general fairly annoying to deal with. He is willing to go through the hassle b... |
I forgot to write the name on the check | If you forgot to put the name on the "pay to the order of" line then anybody who gets their hands on the check can add their name to the check and deposit it at their bank into their account. If it goes to the correct person they will have an easy time making sure that the check is made out correctly. They don't have t... |
What one bit of financial advice do you wish you could've given yourself five years ago? | 2 things: |
Making your first million… is easy! (??) | I realize that "a million dollars" is a completely arbitrary figure, but it's one people fixate on. Perhaps folks just meant it's getting easier because inflation has made it a far less lofty sum than when the word "millionaire" was coined. Your point is correct - it' relatively easier as the 1 million doll... |
Credit card closed. Effect on credit score (USA) | As documented in MyFICO (http://www.myfico.com/credit-education/whats-in-your-credit-score/), there are several factors that affect credit scores. Payment history (35%) The first thing any lender wants to know is whether you've paid past credit accounts on time. This is one of the most important factors in a FICO® ... |
Google market cap | You are right: if the combined value of all outstanding GOOG shares was $495B, and the combined value of all GOOGL shares was $495B, then yes, Alphabet would have a market cap of at least $990B (where I say at least only because I myself don't know that there aren't other issues that should be in the count as well). Th... |
Do my kids need to file a tax return? | If the gift was stock that they have owned for years there can be one hitch: The basis of the stock doesn't reset when it is gifted. For example if grandparents have owned stock that is currently worth $10,000 today, but they bought it decades ago when it only cost them $1,000; then if the new owner sells it today they... |
Unmarried Couple Splitting up with Joint Ownership of Home | Despite the unmarried status, you need to see a lawyer. Essentially you have a business with this person owning a home as the asset, and a mortgage for which you are responsible for. A lawyer needs to examine any paperwork you have and with knowledge of your particular jurisdiction's laws can advise you on the proper... |
Should my husband's business pay my business? | It depends on the finances involved, but particularly if you're not billing anything right now and may have no revenue this year, it's probably a good idea to bill his company. This is in part because some deductions or other tax treatments are only allowed if you have revenue and/or income. The biggest example I can ... |
Is it possible to sell a stock at a higher value than the market price? | The core issue is to understand what 'selling a share' means. There is no special person or company that takes the share from you; you are selling on the open market. So your question is effectively 'can I find a guy on the street that buys a 10$-bill for 11$ ?' - Well, maybe someone is dumb enough, but chances are sl... |
At what point should I begin paying off student loans? | Pay off your highest-interest debt first: credit card, car, maybe even mortgage. Pay minimums on all else. Student loans are typically low interest, so pay off anything else first, but double-check your rate of course. Even if you have no other debt, you may still want to hang on to your savings instead of paying down... |
Deductions greater than Income : Traditional IRA to Roth Conversion? | Yes. A most emphatic yes. I suggest you look at your 2014 return and project what 2015 will look like. I'd convert enough to "top off" the 15% bracket. Note, if you overshoot it, and in April 2016, see that you are say $5K into the 25% rate, you can just recharacterize the amount you went over and nail the bracket to ... |
Question about Tax Information from a Prospectus | A mutual fund could make two different kinds of distributions to you: Capital gains: When the fund liquidates positions that it holds, it may realize a gain if it sells the assets for a greater price than the fund purchased them for. As an example, for an index fund, assets may get liquidated if the underlying index ch... |
company market capitalization to total (annual) stock market capitalization | Market cap is speculative value, M = P * W, where W is stock (or other way of owning) percentage of ownership, P - price of percentage of ownership. This could include "outside of exchange" deals. Some funds could buy ownership percentage directly via partial ownership deal. That ownership is not stock, but fixed-type ... |
What is the best and most optimal way to use margin | This essentially depends on how you prefer to measure your performance. I will just give a few simple examples to start. Let me know if you're looking for something more. If you just want to achieve maximum $ return, then you should always use maximum margin, so long as your expected return (%) is higher than your cost... |
Variations of Dual momentum | There's a few layers to the Momentum Theory discussed in that book. But speaking in general terms I can answer the following: Kind of. Assuming you understand that historically the Nasdaq has seen a little more volatility than the S&P. And, more importantly, that it tends to track the tech sector more than the general ... |
Beginning investment | Your question is very broad. Whole books can and have been written on this topic. The right place to start is for you and your wife to sit down together and figure out your goals. Where do you want to be in 5 years, 25 years, 50 years? To quote Yogi Berra "If you don't know where you are going, you'll end up someplace ... |
Is it legal to sell my stock at any specified price to a specified person in US Market? | So I want to sell my 100 shares of AAPL to him at a price of 10 or even 1 US Dollar. Is that legal/allowed? Of course. It's your stocks - do with it what you want. if the two persons are not served by a same broker. You'll have to talk to your broker about the technicalities of the transaction. if the person who sell... |
Is this reply promising a money order and cashier check a scam? | I was a involved in this same scam from my Craigslist item. The buyer texted me & said his assistant put the wrong check in my envelope & please let him know when I got it,cash the cashiers check, keep my part for money of my item & send him back the difference. Well, the check came to me for $1,350.00 for a $100 item... |
In what category would I put a loan I took to pay an expense | A loan is most generally a liability, a part of the balance sheet. Expenses & income are part of the income statement. Income is the net of revenues after expenses. The interest is an expense on the income statement, but the loan itself does not reside there unless if it is defaulted and forgiven. Then it would beco... |
Does SIPC protect securities purchased in foreign exchanges? | I have received a response from SIPC, confirming littleadv's answer: For a brief background, the protections available under the Securities Investor Protection Act ("SIPA"), are only available in the context of a liquidation proceeding of a SIPC member broker-dealer and relate to the "custody" of securities and r... |
What to do if a state and federal refund is denied direct deposit? | It is not allowed to pay refunds to anyone other than the taxpayer. This is due to various tax return fraud schemes that were running around. Banks are required to enforce this. If the direct deposit is denied, a check will be issued. In her name, obviously. What she does with it when she gets it is her business - but ... |
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... |
Why would people sell a stock below the current price? | Say we have stock XYZ that costs $50 this second. It doesn't cost XYZ this second. The market price only reflects the last price at which the security traded. It doesn't mean that if you'll get that price when you place an order. The price you get if/when your order is filled is determined by the bid/ask spreads. Why w... |
What does “100% stock dividend” mean? | Simply put, 100% stock dividend is 1:1 or 1 for 1 bonus share, as explained above, if you held 100 shares after 1:1 bonus you would have 200 shares (100 original, another 100 as bonus). The impact on the stock price is that the price becomes 1/2 the price of the stock before bonus (supply has doubled). 1:1 bonus is nor... |
What should I do with a savings account in another country? | If the fees to keep the account open are reasonable then it's worth keeping it open for now. It streamlines things if you need to visit or otherwise have business transactions (e.g. order things from online stores) with France or other EU countries. If you are not yet even in university, I think it is far too early t... |
Can banks deny that you've paid your loan? | If the loan is for a car, or mortgage there is specific paperwork that is processed when the loan payments have been completed. For other types of loans ask the lender, what will they give you regarding the payoff of the loan. Keep this paperwork, in hard copy and electronic form forever. |
When is an option a certain number of strikes in the money? e.g. “two strikes in”? | I have traded options, but not professionally. I hadn't come across this terminology, but I expect it counts how far in-the-money, as an ordinal, an option is relative to the distinct strike prices offered for the option series — a series being the combination of underlying symbol, expiration date, and option type (cal... |
Why does gold have value? | To start with gold has value because it is scarce, durable, attractive and can be made into jewellery. But that does not explain its current value. In the current economic climate, it is difficult for many investors to get a positive return on conventional investments such as equities or bonds. I theorise that, in such... |
What return are you getting on your money from paying down a mortgage on a rental property? | There are a few ways to look at this question. Assumptions. Per the original post's assumptions, this answer: In other words, if the owner paid the mortgage on its original schedule, the deal could boil down to a $ 40,000 up-front payment, in exchange for $ 200,000 of equity after 30 years. Or the deal could boil down... |
How credible is Stansberry's video “End of America”? | Others have covered this pretty well, but as someone who once worked for the company that allows Stansberry to publish, let me confirm that their business is about getting you to buy into the financial worldview they promote so that they can sell you more and more "newsletters" and "services". Nothing else. It's a mark... |
Received an unexpected cashiers check for over $2K from another state - is this some scam? | This is so very much a scam. The accepted answer already tells you the basics of it. In addition to the cheque being fake, there is also the possibility that the cheque is a legitimate cheque but has been stolen (or swindled off) from somebody else. In that case, the delay with which the cashing of the cheque will b... |
Wash sale rule question | Yes. On December 10, you have a wash sale. As long as you don't buy the stock back for 30 days after that, the wash is of no consequence. In other words, you don't have a wash issue if you don't own the stock for 30 days. |
Investment property refinance following a low appraisal? | Definitely don't borrow from your 401K. If you quit or get laid off, you have to repay the whole amount back immediately, plus you are borrowing from your opportunity cost. The stock market should be good at least through the end of this year. As one of the commentators already stated, have you calculated your net ... |
How to change a large quantity of U.S. dollars into Euros? | To transfer US$30,000 from the USA to Europe, ask your European banker for the SWIFT transfer instructions. Typically in the USA the sending bank needs a SWIFT code and an account number, the name and address of the recipient, and the amount to transfer. A change of currency can be made as part of the transfer. The... |
Mutual fund value went down, shares went up, no action taken by me | It is very likely that the fund paid out a dividend in the form of reinvested shares. This happens with many funds, especially as we come to the end of the year. Here's a simplified example of how it works. Assume you invested $1000 and bought 100 units at $10/unit. Ignoring the daily price fluctuations, if the fund... |
Paid by an American company but working from France: where should I pay taxes? | There's nothing wrong with your reasoning except that you expect the tax laws to make perfect sense. More often than not they don't. I suggest getting in touch with a professional tax preparer (preferably with a CPA or EA designation), who will be able to understand the issue, including the relevant portions of the Fre... |
What does “no adjustments” mean? | Typically that applies if the broker Form 1099-B reports an incorrect basis to the IRS. If the Form 1099-B shows incorrect basis relative to your records, then you can use 8949, column (g) to report the correct basis. The 8949 Instructions provide a brief example. http://www.irs.gov/pub/irs-prior/i8949--2013.pdf Alth... |
In a house with shared ownership, if one person moves out and the other assumes mortgage, how do we determine who owns what share in the end? | This is something you should decide as part of entering a partnership with someone. Ideally before you make the initial purchase you have a detailed contract written up. If you have already bought the house and someone is now ready to move out the easiest thing to do is sell the house. If that is not an option, you'll... |
401k Rollover - on my own or through my financial advisor? | I thought the Finance Buff made a pretty solid argument for a financial advisor the other day: http://thefinancebuff.com/the-average-investor-should-use-an-investment-advisor-how-to-find-one.html But 1.5% is too expensive. The blog post at Finance Buff suggests several alternatives. He also has the great suggestion to ... |
What would I miss out on by self insuring my car? | Convenience, and of course money. In case of an event, you'll have to spend the full worth of money to fix/replace, while if you're insured - you get the insurance to pay for it. It is up to you to decide, if the money saved on the lower premiums worth the risk of paying much more in case of an event. Of course, the ch... |
Are leverage/ko products the only reasonable way to trade stocks? | I am assuming you mean derivatives such as speeders, sprinters, turbo's or factors when you say "derivatives". These derivatives are rather popular in European markets. In such derivatives, a bank borrows the leverage to you, and depending on the leverage factor you may own between 50% to +-3% of the underlying value. ... |
Is this Employee Stock Purchase Plan worth it when adding my student loan into the equation? | It's 5% free money, if you believe the company's stock is fairly valued and likely to grow and/or return reasonable dividends until you're ready to sell it. There's usually a minimum holding period of a few months to a year before these discounted shares can be sold; take that into account |
How can I make $250,000.00 from trading/investing/business within 5 years? | The answer to your question is Forex trading. You can get to 250K quicker than any other "investment" scheme. You'll just need to start with at least 500K. |
If I want a Credit Card offered through a different Credit Union should I slowly transition my banking to that CU? | I don't have an account with either of those CUs, but I do have membership at 2 different CUs. If they accept credit card payments online via transfer from another institution, there's no reason to move your money, unless there are other benefits (higher interest rates). All the CUs would likely require is membership ... |
Indie Software Developers - How do I handle taxes? | This is not an end-all answer but it'll get you started I have been through accounting courses in college as well as worked as a contractor (files as sole proprietor) for a few years but IANAA (I am not an accountant). Following @MasonWheeler's answer, if you're making that much money you should hire a bean counter to ... |
Asset allocation when retirement is already secure | As others are saying, you want to be a bit wary of completely counting on a defined benefit pension plan to be fulfilling exactly the same promises during your retirement that it's making right now. But, if in fact you've "won the game" (for lack of a better term) and are sure you have enough to live comfortably in ret... |
What is the preferred way to set up personal finances? | The absolute best advice I ever received was this: You will need three categories of savings in your life: 1) Retirement Savings This is money you put away (in 401-Ks and IRAs) for the time in your life when you can no longer earn enough income to support yourself. You do not borrow against it nor do you withdraw fro... |
Margin when entered into a derivative contract | Derivatives derive their value from underlying assets. This is expressed by the obligation of at least one counterparty to trade with the other counterparty in the future. These can take on as many combinations as one can dream up as it is a matter of contract. For futures, where two parties are obligated to trade at... |
What to ask Warren Buffet at the Berkshire Hathaway shareholder meeting? | For whatever it's worth, when I went to the meeting a couple of years ago, the question and answer segment is mostly students asking how to pick a stock or what book they should read. I'm sure someone else will ask but it would be interesting to hear their take on the Syrian refugee situation in Europe and how it may ... |
Any problem if I continuously spend my credit card more than normal people? | Sometimes when you are trying to qualify for a loan, the lender will ask for proof of your account balances and costs. Your scheme here could be cause for some questions: "why are you paying $20-30k to your credit card each month, is there a large debt you haven't disclosed?". Or perhaps "if you lost your job, would yo... |
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