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Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | 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. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Is it safer to send credit card number via unsecured website form or by e-mail? What safer options are there? | Some (most) credit cards have a way to get a one-time use number. If that is an available option for one of your cards, that is probably the way to do the very risky transaction. These numbers can be good for only one purchase, or for multiple purchases with a single vendor. This will limit your exposure because they w... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Is it safer to send credit card number via unsecured website form or by e-mail? What safer options are there? | Here's one option: Telephone is a lower-tech yet relatively more secure means for transmitting your payment information when a secure web site isn't available. And yet another option: You could send them an encrypted email, but this would require tools (e.g. GPG), setup (public keys), and expertise on their end which... |
Share your insights or perspective on the financial matter presented in the input. | Is it safer to send credit card number via unsecured website form or by e-mail? What safer options are there? | Most people cannot use pgp/gpg and setting it up would, in order to do that correctly, require voice fingerprint verification. Don't. Just write a word doc and either encrypt it when saving using the "save as" function or encrypt it using zip and email that to them. Then call them and tell them the password. Done. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is it safer to send credit card number via unsecured website form or by e-mail? What safer options are there? | Your biggest risk with a vendor like this is not that your Credit Card Number will be stolen in transit, it is that it will be stolen from the vendor. I agree with @mhoran that using a one-time number is the best plan, provided you have a bank that offers such numbers. Bank of America calls it "Shop Safe" while Citiba... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | As a shareholder, what are the pros and cons of a Share Consolidation and Return of Capital? | The basic theoretical reason for a company to return money to shareholders is that the company doesn't need the money for its own purposes (e.g. investment or working capital). So instead of the company just keeping it in the bank, it hands it back so that shareholders can do what they think fit, e.g. investing it else... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | The idea you present is not uncommon, many have tried it before. It would be a great step to find landlords in your area and talk to them about lessons learned. It might cost you a lunch or cup of coffee but it could be the best investment you make. rent it out for a small profit (hopefully make around 3 - 5k a year ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | A lot of people do this. For example, in my area nice townhouses go for about $400K, so if you have $80,000 you can buy one and rent it. Here are the typical numbers: So you would make $350 per month or $4,200 per year on $80,000 in capital or about 5% profit. What can go wrong: (1) The property does not rent and sits ... |
Share your insights or perspective on the financial matter presented in the input. | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | This is a reasonable idea and many people have done it. But there are some risks that you need to mitigate. This is a viable business model, but it is a business and you need to treat it as such and expect to work quite hard at it. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | This is a common and good game-plan to learn valuable life skills and build a supplemental income. Eventually, it could become a primary income, and your strategic risk is overall relatively low. If you are diligent and patient, you are likely to succeed, but at a rate that is so slow that the primary beneficiaries of ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | This is a well worn path and not a bad idea. There are quite a few pitfalls but there are a lot of resources to learn for other people's mistakes. Having a plan and doing your research should help you avoid most of them. Here is some general advice to help get you started on the right foot. Know the market you are i... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | This can be done, and there have been many good suggestions on things to do and watch out for. But to my shock I don't see anyone offering any words of caution about property managers! Whatever you do, don't assume they have your best interests at heart. Do not assume that "no news is good news" and that if you aren'... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | I have done something similar to this myself. What you are suggesting is a sound theory and it works. The issues are (which is why it's the reason not everyone does it) : The initial cost is great, many people in their 20s or 30s cannot afford their own home, let alone buy second properties. The time to build up a p... |
Share your insights or perspective on the financial matter presented in the input. | Does this sound like a great idea regarding being a landlord and starting a real estate empire? | BEFORE you invest in a house, make sure you account for all the returns, risks and costs, and compare them to returns, risks and costs of other investments. If you invest 20% of a house's value in another investment, you would also expect a return. You also probably will not have the cost interest for the balance (80% ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Theory/Strategy for pricing by volume | Actually, the rate of change could be more or less constant, but you might have a minimum price that represents your fixed costs. So you might sell a milligram for $1 (which is ridiculous in terms of per-unit pricing) to cover fixed costs, and add $0.50/lb for each step in size to cover variable costs (cost of raw mat... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Pros/cons of drawing income in retirement from sole-owner corporation vs. sole-proprietorship? | Not really, no. The assumption you're making—withdrawals from a corporation are subject to "[ordinary] income tax"—is simplistic. "Income tax" encompasses many taxes, some more benign than others, owing to credits and exemptions based on the kind of income. Moreover, the choices you listed as benefits in the sole-propr... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | First time consultant, doubts on Taxation | 1.If the compensation that I receive is over 10 lakhs, how much would be deducted as tax No tax will be deducted by the company. You have to calculate the tax and pay in Advance by yourself. There are quite a few Banks that give you online facility to pay your tax. There is no service tax. Otherwise the tax slabs are r... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | First time consultant, doubts on Taxation | I would look into the possibility that the promise "that no taxes will be withheld" is all about your status as a 'consultant'. They may be meaning you to be treated like a business they buy services from. In Canada the distinction is very watery and I presume the same in India. If you agree to become a business, the... |
Share your insights or perspective on the financial matter presented in the input. | First time consultant, doubts on Taxation | This is how a consulting engagement in India works. If you are registered for Service Tax and have a service tax number, no tax is deducted at source and you have to pay 12.36% to service tax department during filing (once a quarter). If you do not have Service tax number i.e. not registered for service tax, the compan... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Free “Rich Dad” education, with “free gift”: Is it legitimate, or is it a sales ploy? | Robert Kiyosaki's is basically a get-rich quick author. But to answer your question: It is a sales pitch in disguise. See Marketplace's report on a Kiyosaki seminar, which reveals that the free work shop is a sales pitch for a 3-day work shop which costs several hundred dollars. And the 3-day workshop is a sales pitc... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Free “Rich Dad” education, with “free gift”: Is it legitimate, or is it a sales ploy? | As with any business, there's a huge learning curve. Rich Dad gives you the fundamentals.. which are sound.. you then need to spend time getting the nitty gritty details of the business ... be it real estate, stock investing etc. Kiyosaki is a wealthy man... I've listened to some of his podcasts and he know what he's ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Free “Rich Dad” education, with “free gift”: Is it legitimate, or is it a sales ploy? | Kiyosaki says his methods of actions are not suitable for the average investor. They are meant for those wanting to excel at investing, and are willing to work for it. Personally, I wouldn't want to own ten apartments, because it sounds like a terrible headache. I would much rather have a huge portfolio of index funds.... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Free “Rich Dad” education, with “free gift”: Is it legitimate, or is it a sales ploy? | I have taken the free Kiyosaki evening course, and it does give some good information. It is an upsell to the $500 weekend course, which I also took. That course taught me enough about real-estate investing to get started. I have not yet had the need to pursue his other, more expensive courses. Read his books, take the... |
Share your insights or perspective on the financial matter presented in the input. | Is the MBA an overrated degree/qualification? | For some situations, an MBA can be overrated in the sense that given the cost of time and money, it isn't going to be a great return in some cases. There can be tens of thousands of dollars and a couple of years to get an MBA that some people believes should automatically make them worth $x more in their salary and lif... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Is the MBA an overrated degree/qualification? | The quality of the MBA is really what decides if it's worth it. You have to make sure the school where you are going to is highly regarded or even prestigious. There is a big difference between what you find prestigious and others find prestigious. The student believing it is an awesome school is not enough, the compan... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Is the MBA an overrated degree/qualification? | There is a distinct difference between 'having a degree' and 'being genuinely smart and business savvy'. If you're genuinely smart and business savvy you could theoretically break into the business world with no degree and make a decent salary. The trouble there is that many people aren't smart and business savvy until... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Is the MBA an overrated degree/qualification? | It depends on what you want it for If it is just salary then maybe not, for instance, some MBA programs may suggest their graduates make $100,000 per year, but you work in an oil field barely finishing high school and make $300,000 a year. If you go for the MBA right now, you may miss your chance to work in the oil in... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Self employed as IT consultant and as massage therapist: Do I need 2 HST numbers? | Given your clarifying points, it sounds like you are running both businesses as one combined business. As such, you should be able to get just a single HST number and use that. However, let me please urge you to contact a professional accountant and possibly a lawyer, as it is very unusual to be performing these servic... |
Share your insights or perspective on the financial matter presented in the input. | Taxable Website Ad Revenue | I'm not a tax advisor, but I've done freelance work, so... If any of your side-business revenue is reported on a 1099, you're now a business owner, which is why Schedule C must be filled out. As a business owner, minimum wage doesn't apply to you. All revenue is income to you, and you owe taxes on the profit, after sub... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Taxable Website Ad Revenue | If the $5000 is income, then you need to pay income taxes on it. That's simply the way it works. Hourly rate has nothing to do with whether or not you pay taxes. If it helps, try to think of the $5000 as the first $5000 you make for the year. Now it's covered by your standard deduction and you're not paying taxes on... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | UK - reclaim VAT on purchases for freelance work | If you mostly do work for businesses/individuals who are VAT registered it's a no-brainer to become VAT registered yourself... Although you will have to charge your customers VAT (and pass this on to HMRC) because they are VAT-registered they will reclaim the amount so it won't actually 'cost' them anything. At the sam... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | UK - reclaim VAT on purchases for freelance work | You are either VAT registered or you are not VAT registered. If you are not VAT registered, then you are not allowed to charge customers VAT, and you cannot reclaim VAT that you are paying. You are however allowed to deduct the cost of goods including VAT from your expenses. So if you buy a computer for £1000 + £200 V... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How is taxation for youtube/twitch etc monetization handled in the UK? | The HMRC has a dedicated self-help/learning site that is helpful here: It's important to tell HMRC that you are self-employed as soon as possible. If you don't, you may have to pay a penalty. You don't want to pay more to HMRC than you have to as it is a waste of your money. Your business has started when you sta... |
Share your insights or perspective on the financial matter presented in the input. | How is taxation for youtube/twitch etc monetization handled in the UK? | The difference between a hobby and a business is income. Yes, every country I know of allows you to do something as a hobby until it becomes profitable and then change it into a business once it becomes likely to turn a profit. There's usually a limit in terms of how much profit or revenue you can make before it must b... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How is taxation for youtube/twitch etc monetization handled in the UK? | Unless your video does very well, it's unlikely that your income from it will exceed your expenses incurred in making it, such as the purchase prices of your computer and video camera and the cost of your broadband connection, so there shouldn't be any tax to pay. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What gives non-dividend stocks value to purchasers? [duplicate] | Dividends are not fixed. A profitable company which is rapidly expanding, and thus cash-strapped may very well skip dividends, yet that same fast growth makes it valuable. When markets saturate, and expansion stops, the same company may now have a large free cash flow so it can pay dividends. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What gives non-dividend stocks value to purchasers? [duplicate] | A share of stock is a share of the underlying business. If one believes the underlying business will grow in value, then one would expect the stock price to increase commensurately. Participants in the stock market, in theory, assign value based on some combination of factors like capital assets, cash on hand, revenue,... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What gives non-dividend stocks value to purchasers? [duplicate] | One way to value companies is to use a Dividend discount model. In substance, it consists in estimating future dividends and calculating their present value. So it is a methodology which considers that an equity is similar to a bond and estimates its current value based on future cash flows. A company may not be paying... |
Share your insights or perspective on the financial matter presented in the input. | What gives non-dividend stocks value to purchasers? [duplicate] | Also note that a share of voting stock is a vote at the stockholder's meeting, whether it's dividend or non-dividend. That has value to the company and major stockholders in terms of protecting their own interests, and has value to anyone considering a takeover of the company or who otherwise wants to drive the company... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What gives non-dividend stocks value to purchasers? [duplicate] | Instead of giving part of their profits back as dividends, management puts it back into the company so the company can grow and produce higher profits. When these companies do well, there is high demand for them as in the long term higher profits equates to a higher share price. So if a company invests in itself to gro... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What gives non-dividend stocks value to purchasers? [duplicate] | A Company start with say $100. Lets say the max it can borrow from bank is $100 @ $10 a year as Interest. After a years say, On the $200 the company made a profit of $110. So it now has total $310 Option 1: Company pays back the Bank $100 + $10. It further gave away the $100 back to shareholders as dividends. The Balan... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What gives non-dividend stocks value to purchasers? [duplicate] | As an owner of a share of a business you also "own" profits made by the business. But you delegate company management to reinvest those profits, on your behalf, to make even more profits. So your share of the business is a little money-making machine that should grow, without you having to pay taxes on the dividends an... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What gives non-dividend stocks value to purchasers? [duplicate] | Yes, I agree with you. Saying that the value of the stock will grow as the company grows and acquires more assets ... I don't see why. Okay, I'm a nice guy and I want to see other people do well, but what do I care how much money they're making if they're not giving any of it to ME? Frankly I think it's like people wh... |
Share your insights or perspective on the financial matter presented in the input. | What gives non-dividend stocks value to purchasers? [duplicate] | Most companies are taken over. One can reasonably guess that company X will be taken over for a price P, at some future point in time. Then the company has a value today, that is less than price P, by a large enough margin so that the investor will likely "make out" when the company finally is taken over at some unknow... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Which is better when working as a contractor, 1099 or incorporating? | It makes no difference for tax purposes. If you are 1099, you will pay the same amount of taxes as if you formed a corporation and then paid yourself (essentially you are doing this as a 1099 contractor, just not formally). Legally, I don't know the answer. I would assume you have some legal protections by forming an ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Which is better when working as a contractor, 1099 or incorporating? | I'll just re-post my comment as an answer as i disagree with Michael Pryor. According to this article (and few others) you may save money by incorporating. These factors don’t change the general payroll tax advantage of an S corporation, however: A S corporation can often save business owners substantial amount... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Which is better when working as a contractor, 1099 or incorporating? | Unless the amounts involved are very small, it is MUCH better to incorporate. First, incorporation gives you limited liability for your acts as an employee. As an individual, you have unlimited liability. Second, incorporating allows you to deduct (for tax purposes) the costs of doing business, including all of your he... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Which is better when working as a contractor, 1099 or incorporating? | If you start an LLC with you as the sole member it will be considered a disregarded entity. This basically means that you have the protection of being a company, but all your revenues will go on your personal tax return and be taxed at whatever rate your personal rate calculates to based on your situation. Now here i... |
Share your insights or perspective on the financial matter presented in the input. | Which is better when working as a contractor, 1099 or incorporating? | There is some benefit to creating a corporation or LLC -- you theoretically have a liability shield. As Michael Pryor points out in his answer, though, there will probably be little difference if you get sued. Operating the corporation or LLC incurs some extra costs: you have to pay annual fees to the state, and there'... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Which is better when working as a contractor, 1099 or incorporating? | I am surprised no one has mentioned the two biggest things (in my opinion). Or I should say, the two biggest things to me. First, 1099 have to file quarterly self employment taxes. I do not know for certain but I have heard that often times you will end up paying more this way then even a W-2 employees. Second, an ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Does the stock market create any sort of value? | You are correct that a share of stock in a company has zero intrinsic value. Even if the company typically pays dividends, there's no guarantee that it will continue to do so. A share's only worth comes from: So that's one step better than a Ponzi scheme, because in a Ponzi scheme there's not actually any value prese... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Does the stock market create any sort of value? | I probably don't understand something. I think you are correct about that. :) The main way money enters the stock market is through investors investing and taking money out. Money doesn't exactly "enter" the stock market. Shares of stock are bought and sold by investors to investors. The market is just a mechanism f... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Does the stock market create any sort of value? | When you own stock in a company, you do literally own part of the business, even if it's a small portion. Anyone amassing over 50% of shares really does have a controlling interest. No, you can't trade a handful of AAPL shares back to Apple for an iPod, but you can sell the shares and then go buy an iPod with the proce... |
Share your insights or perspective on the financial matter presented in the input. | Does the stock market create any sort of value? | With regards to "the stock market," there are actually two markets involved here: PRIMARY MARKET Value is created in the primary market where capital is exchanged for a residual interest in an opportunity. As a theoretical example, if a person operating solo (or with a small team) were to discover or create a breakthr... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Does the stock market create any sort of value? | Let's say that you bought a share of Apple for $10. When (if ever) their stock sold for $10, it was a very small company with a very small net worth; that is, the excess of assets over liabilities. Your $10 share was perhaps a 1/10,000,000th share of a tiny company. Over the years, Apple has developed both software and... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Does the stock market create any sort of value? | It's not a ponzi scheme, and it does create value. I think you are confusing "creating value" and "producing something". The stock market does create value, but not in the same way as Toyota creates value by making a car. The stock market does not produce anything. The main way money enters the stock market is through ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Does the stock market create any sort of value? | In general, I think you're conflating a lot of ideas. The stock market is not like a supermarket. With the exception of a direct issue, you're not buying your shares from the company or from the New York Stock Exchange you're buying from an owner of stock, Joe, Sally, a pension fund, a hedge fund, etc; it's not sitt... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Does the stock market create any sort of value? | The stock market exists for two reasons. It lets companies raise money to invest, and it lets company owners cash out and get money instead of part-ownership of a company when they are ready to do so. But to accomplish these goals effectively, it needs many more transactions than just those kinds of transaction, becaus... |
Share your insights or perspective on the financial matter presented in the input. | Does the stock market create any sort of value? | When you own a share, you also own a vote (in most cases). That vote is your means of controlling the assets and management of the company. If you had enough votes and wanted to trade a share for an iPhone or liquidate the company entirely, you could do it. The only thing that prevents you from doing that is that compa... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Does the stock market create any sort of value? | You are right, it is a Ponzi scheme unless it pays all of the profits as dividends. Here's why: today's millenials are saving a lot less, and instead they choose to be spenders. It's just that their mentality is different. If the trend continues there will be more spenders and less savers. That means that in 20 years ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Market Hours and Valuations | Company values (and thus stock prices) rely on a much larger time frame than "a weekend". First, markets are not efficient enough to know what a companies sales were over the past 2-3 days (many companies do not even know that for several weeks). They look at performance over quarters and years to determine the "valu... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Market Hours and Valuations | Stock values are generally reflective of a company's overall potential; and to some extent investor confidence in the prospect of a continued growth of that potential. Sales over such a short period of time such as a single weekend do not noticeably impact a stock's valuation. A stock's value has more to do with wheth... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Borrowing 100k and paying it to someone then declaring bankruptcy | This is fraud and could lead to jail time. The vast majority of people cannot obtain such loans without collateral and one would have to have a healthy income and good credit to obtain that kind of loan to purchase something secured by a valuable asset, such as a home. Has this been done before? Yes, despite it being ... |
Share your insights or perspective on the financial matter presented in the input. | Borrowing 100k and paying it to someone then declaring bankruptcy | This is called a fraudulent conveyance because its purpose is to prevent a creditor from getting repaid. It is subject to claw back under US law, which is a fancy way of saying that your friend will have to pay the bank back. Most jurisdictions have similar laws. It is probably a crime as well, but that varies by juris... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Borrowing 100k and paying it to someone then declaring bankruptcy | Note that in the UK at least this scam - not so dissimilar from what you propose - seems be perfectly legal behaviour: Evidence to date is that both of you can expect to walk away without much consequence. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Borrowing 100k and paying it to someone then declaring bankruptcy | This sounds like a crazy idea, but in reality people don't make the wisest decisions when considering bankruptcy in Australia. My suggestion would be to get some advice from an insolvency specialist. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | 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... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Does getting a 1099 from another state count as working in another state if I was physically in my home state? | You might need to check yes... but I would check out New York's nonresident income tax requirements... My guess is yes if you meet the requirements, but I am not an expert nor do I work in the accounting or legal field. Check out New York's nonresident tax page explaination |
Share your insights or perspective on the financial matter presented in the input. | American taxes if living outside the US and get paid by US company on a US bank account | I agree with Joe, having the money deposited to the US bank account may land you in trouble. Technically, a US business paying a foreigner must withhold 30% of the payment, unless a tax treaty says otherwise. The US business should do that based on your W8-BEN/W8-ECI form that you should have given to the business befo... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | American taxes if living outside the US and get paid by US company on a US bank account | Technically, if you earn in US (being paid there, which means you have a work visa) and live in other country, you must pay taxes in both countries. International treaties try to decrease the double-taxation, and in this case, you may pay in your country the difference of what you have paid in US. ie. your Country is 2... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What does HMRC (the UK tax agency) view as valid expenses for travel? | Food is almost never a valid expense. Reason for it is simple - if you were not conducting business you would have to eat too. Ad 1. I don't see why travel in that case would not be a valid expense, as the only reason for you to travel there is for business reasons. Ad 2. Unlikely as there is a duality of purpose. So w... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Indian citizen working from India as freelancer for U.S.-based company. How to report the income & pay tax in India? | You can receive money directly into your savings bank account. It is perfectly legal. FYI the Bank as part of regulation would report this to RBI. As the funds are received for the services you have rendered, You are liable to pay tax on the income. The income is taxed as professional income similar to the income of Do... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Indian citizen working from India as freelancer for U.S.-based company. How to report the income & pay tax in India? | There is no reason for you to open a firm. However, it will help you, if you operate separate bank account for business and personal purposes. You can run your business as proprietorship business. Your inward remittance is your income. You can deduct payment made to your colleagues as salary. You should pay them by way... |
Share your insights or perspective on the financial matter presented in the input. | Additional credit card with different limit on same account? | You can look into getting a business credit card. When I had my Chase business credit card, I could add authorized users to the main account and set a spending limit on each card. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Additional credit card with different limit on same account? | Generally not. Since authorized user cards are the same account and the difference between the two (the original and the AU card) are minimal. Note, there's nothing technically stopping banks from offering this as a feature, two cards do have identifiers that indicate they're separate cards, but the banks concern for ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Joint Account for Common Earnings | Short Answer: Go to the bank and ask them about your options for opening a business account. Talk to an attorney about the paperwork and company structure and taxes. Long Answer: You and your buddies jointly own an unincorporated business. This is called a partnership. Yes, there is paperwork involved in doing it prope... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Joint Account for Common Earnings | Do not use a shared bank account. One of you can cash/deposit the check in your personal account and then either pay the others in the group cash or write them a check. You open yourself up to many, many problems sharing a bank account and/or money. Treat it like a business as far as income goes, but I would not rec... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Strategies for paying off my Student loans | My advice is that if you've got the money now to pay off your student loans, do so. You've saved up all of that money in one year's time. If you pay it off now, you'll eliminate all of those monthly payments, you'll be done paying interest, and you should be able to save even more toward your business over the next y... |
Share your insights or perspective on the financial matter presented in the input. | 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... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Strategies for paying off my Student loans | Starting up a company is fun, stressful, and exciting. It's also often a lot harder than you expect. Income, revenue, and cash flow are big concerns, and you need to be able to eat while you're hunting down your first paying customers. Don't pay off all the debt if that will leave you without any money for living expen... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | I am not VAT registered. Do I need to buy from my supplier with excl VAT prices or incl VAT? | It's quite common for VAT-registered businesses to quote ex-VAT prices for supply to other businesses. However you're right that when you make an order you will be invoiced and ultimately have to pay the VAT-inclusive price, assuming your supplier is VAT registered. If you're not clear on this then you should check s... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | I am not VAT registered. Do I need to buy from my supplier with excl VAT prices or incl VAT? | If an item costs £10 excluding VAT, and you buy it from a VAT registered company, you will have to pay £12. You sell it for any price you like, and you don't add VAT. Let's say you set the price at £15 and sell 1000 items for £15. You take £15,000, you spent £12,000, you make £3,000 profit in your pocket and you'll pa... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | I am not VAT registered. Do I need to buy from my supplier with excl VAT prices or incl VAT? | It looks like there's some confusion about the purchase price and reclaiming VAT. You should pay your supplier the total amount (£10 + VAT in this scenario, so £12) - look for this figure on the invoice or receipt. The supplier doesn't normally expect you to work this out for yourself, so I'd be a little surprised if i... |
Share your insights or perspective on the financial matter presented in the input. | I am not VAT registered. Do I need to buy from my supplier with excl VAT prices or incl VAT? | You only pay VAT if you buy from a VAT-registered company; if they are not registered, you don't pay. So, thinking about your supplier, if they are VAT-registered they will charge you VAT, if they are not they won't. The buyer's status makes no difference, the seller doesn't get involved in whether the buyer is able to... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | US resident with Canadian income via T4A-NR | As per the Canada-U.S. Tax Treaty (the “Treaty”), a U.S. corporation carrying on business in Canada is only subject to taxation on income earned in Canada through a fixed place of business or permanent establishment. Therefore, if a U.S. company does not have a permanent establishment (PE) in Canada then their Canadian... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Market Cap lower than Shares Outstanding x Share Price? | The definition of market cap is exactly shares oustanding * share price, so something is wrong here. It seems that the share price is expressed in pence rather pounds. There's a note at the bottom: Currency in GBp. Note the 'p' rather than 'P'. So the share price of '544' is actually 544p, i.e. £5.44. However it's not ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Market Cap lower than Shares Outstanding x Share Price? | You are comparing "market caps" and "enterprise value". If the company has four billion dollars cash in the bank, then the value would be four billion plus whatever the business itself is worth as a business. If the business itself is only worth 400 million, then you would have 4.4bn market caps and 400 million enterp... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Is there a White-list of Trusted Online Vendors? | I'm going to go with "ridiculous notion." :) The vast majority of businesses are legitimate, run by honest people trying to earn a living for themselves and their employees. These days, almost all of them accept credit cards. Crooked businesses are a very small minority. When a bad business over charges you, you dis... |
Share your insights or perspective on the financial matter presented in the input. | How can I invest in an index fund but screen out (remove) certain categories of socially irresponsible investments? | It would involve manual effort, but there is just a handful of exclusions, buy the fund you want, plug into a tool like Morningstar Instant X Ray, find out your $10k position includes $567.89 of defense contractor Lockheed Martin, and sell short $567.89 of Lockheed Martin. Check you're in sync periodically (the fun... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How can I invest in an index fund but screen out (remove) certain categories of socially irresponsible investments? | I think the answer to your question is no, in theory. By screening out funds, you must actively manage the investments. To then try to ensure you track the index closely enough, you have to do further management. Either you spend your own time to do this or you pay someone else. This is ok, but it seems contrary to th... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How can I invest in an index fund but screen out (remove) certain categories of socially irresponsible investments? | You could certainly look at the holdings of index funds and choose index funds that meet your qualifications. Funds allow you to see their holdings, and in most cases you can tell from the description whether certain companies would qualify for their fund or not based on that description - particularly if you have a s... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How can I invest in an index fund but screen out (remove) certain categories of socially irresponsible investments? | It sounds like you need an index fund that follows so called Sustainability index. A sustainability index does not simply select "socially responsible" industries. It attempts to replicate the target market, in terms of countries, industries, and company sizes, but it also aims to select most "sustainable" companies fr... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How can I invest in an index fund but screen out (remove) certain categories of socially irresponsible investments? | Hmm, this would seem to be impossible by definition. The definition of an "index fund" is that it includes exactly the stocks that make up the index. Once you say "... except for ..." then what you want is not an index fund but something else. It's like asking, "Can I be a vegetarian but still eat beef?" Umm, no. Ther... |
Share your insights or perspective on the financial matter presented in the input. | Using a cash account can someone trade all day on it? | No, you cannot. The cash settlement period will lock up your cash depending on the product you trade. Three business days for stocks, 1 business day for options, and you would need waaaaaay more than $5,000 to trade futures. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Using a cash account can someone trade all day on it? | According to Regulation T, you can make as many day trade (round trip) stock purchases using a cash account as long as you have the funds to cover each and every round trip sale. However, the funds generated from the sales cannot be used again to purchase new stocks until the settlement period (T-2 or T-3) is over. For... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why doesn't change in accounts receivable on balance sheet match cash flow statement? | I'm not an expert, but here is my best hypothesis. On Microsoft's (and most other company's) cash flow statements, they use the so-called "indirect method" of accounting for cash flow from operations. How that works, is they start with net income at the top, and then adjust it with line items for the various non-cash a... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why doesn't change in accounts receivable on balance sheet match cash flow statement? | Increase in A/R in balance sheet includes the A/R of acquired businesses. Change in A/R in cash flow statement might say "excluding effects of business acquisitions". |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why doesn't change in accounts receivable on balance sheet match cash flow statement? | It is difficult to reconcile historical balance sheets with historical cash flow statements because there are adjustments that are not always clearly disclosed. Practitioners consider activity on historical cash flow statements but generally don't invest time reconciling historical accounts, instead focusing on balanci... |
Share your insights or perspective on the financial matter presented in the input. | Why doesn't change in accounts receivable on balance sheet match cash flow statement? | QUICK ANSWER What @Mike Haskel wrote is generally correct that the indirect method for cash flow statement reporting, which most US companies use, can sometimes produce different results that don't clearly reconcile with balance sheet shifts. With regards to accounts receivables, this is especially so when there is a ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | When does Ontario's HST come into effect? | It looks like the HST will be in effect in Ontario on July 1st, 2010. As to whether it will replace GST with HST for all services, it looks like some sectors may get special treatment: Ontario may exempt mutual funds from HST (National Post). But it doesn't look final yet. However, I would suggest that most service-... |
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