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Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why do companies have a fiscal year different from the calendar year? | Maybe it's just because of the foundation date. If I start a company on August 1st, I would like its FY starts on that date too, in order to track my first whole year. Would be quite useless to finish my year on December, after just five months. I want to have data of my first year after a twelve months activity. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why do companies have a fiscal year different from the calendar year? | In addition to the company-specific annual business cycle reasons and company-specific historical reasons mentioned in the other answers, there is another reason. Accounting firms tend to be very busy during January (and February and March) when most companies are closing and auditing their calendar-year books. If a c... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | For somebody that travels the same route over and over again, what are some ways to save on airfare? | Yapta.com will track flight prices, so you can know when a good time historically is to make a bunch of reservations. Also, Air India has a frequent flier program so I hope you have signed up for it... you could get free flights once you get enough points (although I would probably use your points for upgrades to busi... |
Share your insights or perspective on the financial matter presented in the input. | For somebody that travels the same route over and over again, what are some ways to save on airfare? | I remember when humorist Dave Barry discussed some guy who invented the software that guaranteed that no two airline passengers ever paid the same fare. As with much of Dave Barry's stuff, it has way too much truth in it. Research when the best time frame to buy your tickets is. It varies wildly with time of day, tim... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Advantage of credit union or local community bank over larger nationwide banks such as BOA, Chase, etc.? | Banks, the big ones, have shareholders and the board to answer to. Credit Unions have members and the board to answer to. You become a member by joining a CU. Banks' prime objective is profit maximization, a credit union's prime objective is members' welfare. Personal experience: I didn't mind that the banks charge... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Advantage of credit union or local community bank over larger nationwide banks such as BOA, Chase, etc.? | Don't switch just because you hear people panicking on the talk shows. Banks are competitive business and won't start charging for using debit cards too fast. If and when they decide to do such a thing after all - then start shopping and see who doesn't catch up with the fees and still provides the services you want fo... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Advantage of credit union or local community bank over larger nationwide banks such as BOA, Chase, etc.? | Fees mostly. BOA, for example, just announced $5/month for for all debit cards. Chase has foreign transaction fees, mostly hidden. BOA once famously raised interest rates on credit card holders to 28%, legally. Also, some people do not like patronizing a bank with CEOs that bankrupt the company and then get multi-mi... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Can I account for start-up costs that occur before incorporation? | Yes you can. You should talk to your tax advisor re the specific expenditures that can be accounted as startup-costs (legal fees are a good candidate, for example). If they add up to significant amounts (>$5K), you'll have to capitalize them over a certain period of time, and deduct from your business' income. This is ... |
Share your insights or perspective on the financial matter presented in the input. | Landlord living in rental unit - tax implications? | Does allowing family to stay at the rental jeopardize my depreciation? No, accumulated depreciation that hasn't been deducted reduces your basis in the event of sale. That doesn't go anywhere. Accumulating more may not be allowed though. If the property is no longer rental (i.e.: personal use, your family member lives... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Landlord living in rental unit - tax implications? | A tenant is a tenant regardless of your relationship to them, and as long as the property is classified as an investment property, you can claim depreciation and regular business losses just as you would on any property with any tenant. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How were self employed folk taxed in the U.K. before 1997 | This link: http://www.ifs.org.uk/fs/articles/ewgm_feb93.pdf (from 1996, describing the proposals for the change) seems to answer the question in its description of "the current system" - they had to file business accounts and it was calculated by the Inland Revenue from that. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Are stories of turning a few thousands into millions by trading stocks real? | If they could really do this, do you really think they would be wasting their time offering this course? You are being lied to. (Or more accurately: It's certainly possible to gamble and get lucky, but those gambles are more likely to result in your rapidly losing your money than in your rapidly gaining value.) It is... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Are stories of turning a few thousands into millions by trading stocks real? | Consider this thought experiment: Take 10 million people and give them each $3,000. Every day they each purchase a random stock with all of their money. The next day they flip a coin and if it's heads they do nothing, and if it's tails they sell it and purchase another random stock. Repeat everyday for 5 years.... |
Share your insights or perspective on the financial matter presented in the input. | Are stories of turning a few thousands into millions by trading stocks real? | 10k in taser stock at $1.00 per share made those who held into the hundreds per share made millions. But think about the likelihood of you owning a $1 stock and holding it past $10.00. They (taser millionaires) were both crazy and lucky. A direct answer, better off buying a lottery ticket. Stocks are for growing weal... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Are stories of turning a few thousands into millions by trading stocks real? | The short answer is yes, it is possible to do what these classes claim, however, it is highly unlikely. For every person they can show you that got rich using whatever so called method they are teaching, there are hundreds of people that didn't that they aren't telling you about. What I would recommend is invest in a w... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Are stories of turning a few thousands into millions by trading stocks real? | Warren Buffett pointed out that if you set 1 million monkeys to flipping coins, after ten flips, one monkey in about 1,000 (1,024) actually, would have a "perfect" track record of 10 heads. If you can double your money every three to five years (basically, the outer limit of what is humanly possible), you can turn $1,0... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Are stories of turning a few thousands into millions by trading stocks real? | I did once read a book titled "How I made a million dollars on the stock market". It sounded realistic enough to be a true story. The author made it clear on the first page that (a) this was due to some exceptional circumstances, (b) that he would never again be able to pull off something like this, and (c) you would n... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Are stories of turning a few thousands into millions by trading stocks real? | I made upwards of 3M from 200K by trading stocks, which I made from a business that I invested 20K in. HOWEVER, DO NOT use trading stocks as a source of income, you're gambling with your precious cash. There are safer alternatives. |
Share your insights or perspective on the financial matter presented in the input. | Are stories of turning a few thousands into millions by trading stocks real? | It's possible to make money in the market - even millions if you "play your cards right". Taking the course being offered can be educational but highly unlikely to increase your chances of making millions. Experience and knowledge of the game will make you money. The stock market is a game. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Are stories of turning a few thousands into millions by trading stocks real? | you'll need 25k to start or 2k in multiple accounts, that way you have access to margin, and don't have to worry about Pattern day trading limits. Be right more than you are wrong. Go up look for 3x potential up vs down risk. Compound daily. you can't double a penny every day every day for a month it becomes to diffic... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Can vet / veterinary bills be considered deductions (tax-deductible) for Income Tax purposes [Canada]? | No. Medical bills for yourself or your human companions may be: Canada Revenue Seeing-eye dogs and the like also get special treatment Nice Doggie There are pet medical insurance policies; but as they are often priced like human policies, they might exclude your animal if it has a pre-existing condition. Good Luck Scot... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Can vet / veterinary bills be considered deductions (tax-deductible) for Income Tax purposes [Canada]? | In the US service animals are treated like durable medical equipment from a tax POV, and some expenses can be deducted. Likewise, expenses associated with working animals are business or hobby expenses than can be deducted to a certain extent. But pets, no. Legally they are "chattels" -- property that can move. Genera... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Can dues and subscriptions expenses be deducted 100% to calculate taxable income in an LLC company? | IRS Publication 529 is the go-to document. Without being a tax professional, I'd say if the dues and subscriptions help you in the running of your business, then they're deductible. You're on your own if you take my advice (or don't). ;) |
Share your insights or perspective on the financial matter presented in the input. | Merrill Lynch historical stock prices - where to find? | You could try asking Merrill Lynch, (general inquiries) :- http://www.ml.com/index.asp?id=7695_114042 So far I only found a few graphics :- http://topics.nytimes.com/top/news/business/companies/merrill_lynch_and_company/ http://www.reuters.com/article/2008/01/17/us-merrilllynch-results-idUSWNAS674520080117 http://ww... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How feasible would it be to retire just maxing out a Roth IRA? | Interesting. The answer can be as convoluted/complex as one wishes to make it, or back-of-envelope. My claim is that if one starts at 21, and deposits 10% of their income each year, they will likely hit a good retirement nest egg. At an 8% return each year (Keep in mind, the last 40 years produced 10%, even with the l... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How feasible would it be to retire just maxing out a Roth IRA? | Assuming you max-out your Roth IRA with $5000 in inflation-adjusted contributions every year from 25-65, your balance at age 65 will depend on the post-inflation return you get in the account. Assuming you withdraw 4% per year after that, here is what your income will be: (All numbers are in inflation-adjusted 2011 do... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How feasible would it be to retire just maxing out a Roth IRA? | I wouldn't settle for 10%, and I certainly wouldn't settle for a Roth. I'd recommend not retiring. I'd recommend building up a side business in your "free" time while you're working that's closer to your calling that you can "retire into." Don't be complacent. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Non Resident Alien(Working full time on F1-OPT) new car sales tax deduction | A non-resident alien is only allowed for deductions connected to producing a US-sourced income (See IRC Sec. 873). Thus you can only deduct things that qualify as business expenses, and State taxes on your wages. In addition you can deduct a bunch of stuff explicitly allowed (like tax preparation, charitable contributi... |
Share your insights or perspective on the financial matter presented in the input. | Non Resident Alien(Working full time on F1-OPT) new car sales tax deduction | No, if you are a nonresident alien, you cannot deduct sales tax. You can only deduct state income tax. 1040NR Schedule A (which is page 3 of 1040NR) does not contain an option for sales tax, like 1040 Schedule A does. If you are a resident alien, then you can deduct sales tax. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Assessing the value of an ETF | You seem to be assuming that ETFs must all work like the more traditional closed-end funds, where the market price per share tends—based on supply and demand—to significantly deviate from the underlying net asset value per share. The assumption is simplistic. What are traditionally referred to as closed-end funds (CEFs... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Assessing the value of an ETF | You can follow the intra-day NAV of an ETF, for instance SPY, by viewing its .IV (intra-day value) ticker which tracks it's value. http://finance.yahoo.com/q?s=spy http://finance.yahoo.com/q?s=^SPY-IV Otherwise, each ETF provider will update their NAV after business each day on their own website. https://www.spdrs.co... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How would I go about selling the stock of a privately held company? | The easiest way to find a buyer should be to ask the company to connect you to some of their other shareholders. I imagine they are much more likely to take those shares off you than a random investor on the street. Otherwise, well, talk to people. At a golf club, maybe? :) Valuation is not going to be very straightfor... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How would I go about selling the stock of a privately held company? | SecondMarket attempts to add liquidity to privately held companies. You may be able to find a buyer there, but this is still incredibly illiquid due to accredited investor regulations constricting businesses from catering to the 99%. As around 1% of the United States population qualifies as an accredited investor. |
Share your insights or perspective on the financial matter presented in the input. | Confirming that stocks are listed under my name | The answer to your question is "no". Unless you specifically ask to receive paper share certificates, then brokers will hold your shares with a custodian company in the broker's own nominee account. If you are able to receive paper certificates, then the registrar of the company whose shares you own will have a record... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Confirming that stocks are listed under my name | Street name is not what you think it is in the question. The broker is the owner in street name. There is no external secondary owner information. I don't know if there is available independent verification, but if the broker is in the US and they go out of business suddenly, you can make a claim to the SIPC. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Do my parents need to pay me minimum wage? | Yes they do. Here is the main page on minimum wage for the province of British Columbia. This page lists exemptions from BC minimum wage laws, but there are none for working in a family business, or for being underage. Students are exempted only if they are on approved work study. Generally all provinces apply minimum... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Do my parents need to pay me minimum wage? | There is actually a restriction on how high a wage they can pay you. There didn't use to be, but now it has to be reasonable for the work you are doing, so they can't pay you $100/hr while other people doing the same work get minimum wage. You might ask why on earth a parent would want to pay a child way more than they... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How is a Condominium / Apartment Building fiscally identified? | In such cases, it has a EIN, like any business would. Even absent the rent you suggest, the condo should have reserve funds, similar to an individual's emergency account, only more codified as to level and flows. These funds should be earning interest. |
Share your insights or perspective on the financial matter presented in the input. | 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... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Can preventive health checkup be claimed as a separate expense from medical expenses? | Deduction for Health Checkup is allowed under Section 80D and is allowed to everyone whether Salaried or Business/Professional. However, Exemption for Medical Reimbursement of Rs. 15000 is allowed under a different section. A salaried employee can take benefit of both Medical Reimbursement of Rs. 15,000 as well as Pre... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Book capital losses in gnucash | According to the gnucash guide, losses are recorded as negative transactions against Income:Capital Gains. I've followed this model in the past when dealing with stocks and commodities. If on the other hand, you're talking about an asset which could normally follow a depreciation schedule, you might want to look at t... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Book capital losses in gnucash | It depends on whether or not you are referring to realized or unrealized gains. If the asset appreciation is realized, meaning you've sold the asset and actually collected liquidity from it, then Derek_6424246 has provided a good route to follow. However, if the gains are unrealized, meaning only that the current va... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why are prices in EUR for consumer items often the same number as original USD price, but the GBP price applies the actual exchange rate? | The simplest answer would be: Because they can. Why charge less for something if people will pay more? One example are Apple products. While there the price number is not exactly the same in EUR and USD, they are so close that, effectively, the EUR product is more expensive. Many things go into a price. There might be ... |
Share your insights or perspective on the financial matter presented in the input. | Why are prices in EUR for consumer items often the same number as original USD price, but the GBP price applies the actual exchange rate? | It's mostly VAT (value added tax or sales tax). For example an US IPad is $499 without tax, and a German IPad is EUR 499 including 17% VAT. The base price is actually only EUR 417. In addition to that, cost of business is a little higher in Europe because of tax structures and because smaller countries cause higher ov... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why are prices in EUR for consumer items often the same number as original USD price, but the GBP price applies the actual exchange rate? | In the EU prices on consumer-focussed sites* are quoted inclusive of VAT. In the USA prices are quoted exclusive of sales tax. Consumer pricing is usually driven at least partly by psychological concerns. Some pricepoints are more appealing to certain types of buyers than others. The Euro vs dollar exchange rate has ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Restricting a check from being deposited via cell phone | No, most check deposits are processed that way. Banks transmit the pictures of the checks between themselves, and allow business customers to deposit scans for quite some time now. I see no reason for you to be concerned of a check being in a dusty drawer, it's been deposited, cannot be deposited again. If you're conce... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Restricting a check from being deposited via cell phone | I agree with you that smartphone deposits make you more vulnerable to a variety of issues. Checks are completely insecure, since anyone with your routing/account number can create a check, and individuals are less likely to shred or otherwise secure the check properly. Ways to control this risk are: |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Restricting a check from being deposited via cell phone | I don't see any reason to worry about a check being deposited via cell phone. There isn't anything you can write on a check to make it physical deposit only or similar. If you really want to keep your check from being read electronically you could always smudge the numbers but you run the risk of the bank not cashing ... |
Share your insights or perspective on the financial matter presented in the input. | Why is retirement planning so commonly recommended? | 1) People aren't always going to be able to do their occupation, or their desired hobby. 2) Government assistance, or whatever you want to call it, is available at a certain age. Some people look forward to this and plan to rely on it, but it isn't really sufficient for living off of and keeping the standard of living ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why is retirement planning so commonly recommended? | You don't have to retire. But the US government and other national governments have programs that allow you to set aside money when you are young to be used when you are older. To encourage you to do this, they reduce your taxes either now or when your are older. They also allow your employer to match your funds. In t... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why is retirement planning so commonly recommended? | In addition to what others have said, I think it is important to consider that government retirement assistance (whatever it is called in each instance) is basically a promise that can be revoked. I talked to a retired friend of mine just yesterday and we got onto that subject; she mentioned that when she was young, th... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why is retirement planning so commonly recommended? | Another thing that "retirement" lets you do is do what you love without worrying about making enough money to live on by doing it. For example, volunteering your time or starting your own business. These are much easier to do when you don't have to worry about getting paid. Having a source of income provides a lot mo... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why is retirement planning so commonly recommended? | If you can afford it, there are very few reasons not to save for retirement. The biggest reason I can think of is that, simply, you are saving in general. The tax advantages of 401k and IRA accounts help increase your wealth, but the most important thing is to start saving at an early age in your career (as you are doi... |
Share your insights or perspective on the financial matter presented in the input. | Why is retirement planning so commonly recommended? | I suggest that you think in terms of "financial independence" rather than retirement. You do not need to retire in the stereotypical sense of playing golf and moving to Florida. If you reach a point where your "day job" does not need to pay your bills, you open up more options for what you can do. I am not saying to w... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why is retirement planning so commonly recommended? | I like many of the answers, but here is a summary of reasons: Almost everyone will retire, and it is almost certain that government or company pensions schemes will not alone give you a lifestyle you would like in retirement. Money invested early is worth much more in retirement than money invested late, thanks to the ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why is retirement planning so commonly recommended? | In addition to the choice that saving for retirement affords - itself a great comfort - the miracle of compounding is so great that even if you chose to work in old age, having set aside sums of money that grow will itself help your future. The are so many versions of the "saving money in your 20s" that equals million... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why is retirement planning so commonly recommended? | I actually really like the way you positioned this question. If you love what you are doing every day, why would you ever want to quit, right? I'd think of retirement as a safety net instead. Your retirement can be a fall back for if something happens if you are unable to work or deicide to work less. There are some re... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How to become an investment banker? | Apply for a job/internship to get a first impression of what it means to work in investment banking. Go to a tier one business school and try to get an CFA. Most importantly: work, work, work... Get practical experience as much as possible. |
Share your insights or perspective on the financial matter presented in the input. | 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... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Got a “personal” bonus from my boss. Do I have to pay taxes and if so, how do I go about that? | I actually think your boss is creating a problem for you. Of course it's taxable. The things IRS will look at (and they very well might, as it does stand out) what kind of payment is that. Why did it not go through payroll? The company may be at risk here for avoiding FICA/FUTA/workers' compensation insurance/State pay... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Got a “personal” bonus from my boss. Do I have to pay taxes and if so, how do I go about that? | Yes, it's taxable. If anyone suggests it's a gift, they are mistaken. There's a line on the 1040 for "other" and as long as you claim it, you're fine with the IRS. It's 2012 income as you already got it. Edit - mhoran makes two good points I'm not really able to address. (a) does a late bonus such as this effect one's... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Got a “personal” bonus from my boss. Do I have to pay taxes and if so, how do I go about that? | As others have mentioned yes it is taxable. Whether it goes through payroll and has FICA taken out is your issue in terms that you need to report it and you will an extra 7.5% self employment taxes that would normally be covered by your employer. Your employer may have problems but that isn't your issue. Contrary to w... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Got a “personal” bonus from my boss. Do I have to pay taxes and if so, how do I go about that? | If you are in the US and a regular employee, this will have to show up on your year-end W2 form as income. If it doesn't, there is some funky accounting business going and you should probably consult a professional for advice. |
Share your insights or perspective on the financial matter presented in the input. | What is today's price of 15 000 Euro given 15 years ago? | With no written agreement in place, the "right" rate is whatever both parties can agree to. I could argue that I could have invested the money in S&P 500 index funds and made about 9% annually over the last 15 years and the 15,000 would have been over 40,000. The "fair" rate would be whatever rate of return could have... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What is today's price of 15 000 Euro given 15 years ago? | What you are positioning as a loan was not a loan at all. Your father bought something to be delivered in the future. Your aunt does not want to deliver it, so she should buy it back at whatever the current market value is. What is the price that your dad believes her share of the inheritance is currently worth? Is tha... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What is today's price of 15 000 Euro given 15 years ago? | There's often a legal basis to answer this question. For instance, Austria (guessing from your profile) currently uses a 4% Statutory interest rate. You'll need to dig up not just the actual but also the historical rates. Note that you'll want the non-commercial interest rate - some countries differentiate between loan... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How long does it take for a Tangerine no-fee money-transfer email to be delivered? | I phoned Tangerine; they enlightened me. It generally takes 2 hours for the email to arrive. Next, the recipient must open the email, click the link, and enter their bank account number. They'll generally receive the money 2-3 business days after that. This forum post suggests that the delays are due to systemic risk m... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Can I pay taxes using bill pay from my on-line checking account? | I wouldn't do this. There is a chance that your check could get lost/misdirected/misapplied, etc. Then you would need to deal with the huge bureaucracy to try to get it fixed while interest and penalties pile up. What you can do is have the IRS withdraw the money themselves by providing the rounting number and accou... |
Share your insights or perspective on the financial matter presented in the input. | Can I pay taxes using bill pay from my on-line checking account? | I can't speak for the US, but I've completed direct tax payments via my online bank account (for business and personal) in two countries (South Africa and the UK). I find it easier and with a better record that the transaction took place than any of the other methods available (including going directly into a tax offi... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Can I pay taxes using bill pay from my on-line checking account? | And if you need to pay business taxes outside of the regular US 1040 form, you can use the IRS' Electronic Federal Tax Payment System (EFTPS). Basically, you enroll your bank accounts, and you can make estimated, penalty, etc. payments. The site can be found here. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | If I send money to someone on student visa in USA, will he need to pay taxes on that? | First: I am not a tax lawyer. This is just an educated opinion; not a legally verified answer. Taxes are to be paid on income, not on money that you handle for someone. So if the idea is only that he gets and holds the money for you until a later point in time, there should be no tax liability. If the amount is high en... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | If I send money to someone on student visa in USA, will he need to pay taxes on that? | If i am not wrong, any business activities such should be declared on Year End Tax filing. If your friend is going to own that website either it is commercial or nonprofit, he has to declare in the year end taxation. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What does it mean for a normal citizen like me when my country's dollar value goes down? | This may make Australian exports cheaper, which can be a good thing. However it is at the expense of making imports more expensive. Look to Japan, which is devaluing their currency, and is a large importer of energy: I wont say its bad or unnecessary to hold money in other currencies. However, keep in mind that all AU... |
Share your insights or perspective on the financial matter presented in the input. | What does it mean for a normal citizen like me when my country's dollar value goes down? | Essentially imported goods from the country (in this case the US) that is improving against your local currency will become more expensive. For the most part, that is the only practical effect on you on an individual financial level. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What does it mean for a normal citizen like me when my country's dollar value goes down? | There are several possible effects: There isn't much you could do about it. If you had enough money to try to hedge by buying foreign securities, in theory you could be happy no matter what your dollar did: if it goes up, you have pain or gain from local effects (depending on whether imports or exports have a bigger ef... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What does it mean for a normal citizen like me when my country's dollar value goes down? | One more effect that's not yet been mentioned is that companies based in Australia and listed on the Australian Securities Exchange, but which do most of their business overseas, will increase their earnings in AU$, since most of what they earn will be in foreign currencies. So their shares are likely to appreciate (in... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Sell a stock and buy a new one | You have to wait for three (business) days. That's the time it takes for the settlement to complete and for the money to get to your account. If you don't wait - brokers will still allow you to buy a new stock, but may limit your ability to sell it until the previous sale is settled. Here's a FAQ from Schwab on the iss... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Sell a stock and buy a new one | It depends on the broker. The one I use (Fidelity) will allow me to buy then sell or sell then buy within 3 days even though the cash isn't settled from the first transaction. But they won't let me buy then sell then buy again with unsettled cash. Of course not waiting for cash to settle makes you vulnerable to a good ... |
Share your insights or perspective on the financial matter presented in the input. | Where I can find the exact time when a certain company's stock will be available in the secondary market? | Twitter is planning to go public on NYSE. You'll be able to start trading once the stock is listed for trading, which would be the day of the IPO. Note that since you're trading on the secondary market, you won't be able to buy at the IPO prices, whatever the time is. You're buying from someone who bought at IPO price... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Where I can find the exact time when a certain company's stock will be available in the secondary market? | Very often, the word secondary market is used synonymously with the stock market as we all know it. In this case, the primary market would be the "closed" world of VCs, business angels, etc to which stock market investors do not have access, e.g. the securities are not trading on a public stock market. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Will prices really be different for cash and cards? | I think the question relates to the discussion here: http://clarkhoward.com/liveweb/shownotes/2010/10/05/19449/ It was always the case that merchants could discount purchases made with cash. What wasn't allowed is allowing the merchant to charge extra for credit card transactions (presumably to cover the fees the merc... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Will prices really be different for cash and cards? | There are many gas stations where I live that already have different prices if you pay for cash vs. credit. In addition, some small businesses are doing this as well. My wife bought a birthday cake from a bakery. If you paid with cash, you saved 5%. |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Will prices really be different for cash and cards? | I would say minimal price differences. Stores will need to remain competative, and the difference (if any) will likely be to cover the cost of the transaction that Visa and other card companies charge them. |
Share your insights or perspective on the financial matter presented in the input. | Will prices really be different for cash and cards? | My guess would be for small merchants there could be a small difference. For large merchants, the cash is also at a cost equivalent to the card fees. Check for my other answer at How do credit card companies make profit? |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Tracking my spending, and incoming and outgoing (i.e cashflow) | Systems to research that may help you out: Less Accounting and Wave are great because they can import data from banks / credit cards. I know you said your bank doesn't export it but it seems like something as a small business you would want. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Tracking my spending, and incoming and outgoing (i.e cashflow) | Honing in on your last question: Is there a better way? I think there is, but it would require you to change the way you handle your spending, and that may not be of interest to you. Right now you have a lot of manual work, keeping track of expenditures and then entering the, every day. The great thing about switchin... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What happened in Argentina in 2001 bank sector? did the banks closed? all or some? | One place you might consider looking for answers is in case studies from Harvard Business School. When I was working an MBA, we studied the default of Argentina as part of our economics coursework. Other sources for your consideration might include: |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How does a 2 year treasury note work? | There is a large market where notes/bills/bonds are traded, so yes you can sell them later. However, if interest rates go up, the value of any bond that you want to sell goes down, because you now have to compete with what someone can get on a new issue, so you need to 'discount' the principal value of your bond in or... |
Share your insights or perspective on the financial matter presented in the input. | How does a 2 year treasury note work? | Look at this question here. In my answer there, I put a link to an Investopedia article about the bond prices. Keep in mind that speculating over a short term period is pretty dangerous, even with the Treasury notes, and the prices may be affected temporary but greatly by the ordeals like the latest Republican shenanig... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | 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. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | 1040 or 1040NR this time? | 1040 or 1040NR depends on whether you are a resident alien or nonresident alien -- 1040/1040A/1040EZ for resident aliens, and 1040NR/1040NR-EZ for nonresident aliens. Determining whether you are a resident is somewhat complex, and there is not enough information in your question to determine it. Publication 519 is the ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | 1040 or 1040NR this time? | Since you were a nonresident alien student on F-1 visa then you will be considered engaged in a trade or business in the USA. You must file Form 1040NR. Here is the detailed instruction by IRS - http://www.irs.gov/Individuals/International-Taxpayers/Taxation-of-Nonresident-Aliens |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How aggressive should my personal portfolio be? | You're completely missing the most important thing you can do: minimize fees. |
Share your insights or perspective on the financial matter presented in the input. | How aggressive should my personal portfolio be? | Its important to note that aggression, or better yet volatility, does not necessarily offer higher returns. One can find funds that have a high beta (measure of volatility) and lower performance then stock funds with a lower beta. Additionally, to Micheal's point, better performance could be undone by higher fees. ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Minimizing loss during two-way currency transfers involving foreign entities | The solution was to get a foreign bank in each country we do business in. Get a credit card processor there, and simply make our money and keep our money in that country, and taking quarterly gains from those accounts and bringing them to the US account. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Dow Jones Industrial Average (DJIA), NASDAQ 100, and S&P 500 index historical membership listing? | Dow Jones: http://en.wikipedia.org/wiki/Historical_components_of_the_Dow_Jones_Industrial_Average NASDAQ: http://en.wikipedia.org/wiki/NASDAQ-100 (scroll down) S&P Tricky. From what I can find, you need to be in Harvard Business School, a member of CRSP, or have access to Bloomberg's databases. S&P did have the info a... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Good Percentage Return on Equity? | Yes definitely Warren Buffet averaged returns of only around 21% throughout his 40 years in business. ROE of 23% is probably more than double the ROE of most companies , whats more as the saying goes its easier to grow sales from 1 million to 100 million than to grow sales from 100 million to 10 billion |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Is transfer of long term investment proceeds from India considered taxable in the U.S.? | If you are a US resident (not necessarily citizen) then yes, you do have to pay capital gains taxes on any capital gains, including interest from assets oversees (like interest from a savings account). Additionally you have to report all your foreign bank accounts according to FATCA (https://www.irs.gov/businesses/corp... |
Share your insights or perspective on the financial matter presented in the input. | How does UpWork allow US companies to make payments outside of the US? | Permanent employees are the distinct opposite of contractors. Upwork can easily have business entities (limited liability company equivalents) in multiple countries, and it can make payments between them. Or they can merely use existing payment infrastructure (paypal, amazon) to accomplish the same thing. Their corpora... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Who can I get to help me roll my 401(k) into an IRA when I live overseas? | It is typically very easy to roll a 401(k) into an IRA. Companies that provide IRA's are very experienced with it, and I would expect that they will take your calls from overseas. You will likely be able to do it over the internet without using a phone at all. Just open an IRA with any brokerage company (Scottrade, Va... |
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