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Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should a high-school student invest their (relative meager) savings? | Between 1 and 2 G is actually pretty decent for a High School Student. Your best bet in my opinion is to wait the next (small) stock market crash, and then invest in an index fund. A fund that tracks the SP500 or the Russel 2000 would be a good choice. By stock market crash, I'm talking about a 20% to 30% drop from th... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should a high-school student invest their (relative meager) savings? | If you're not rich, investing money will produce very small return, and is a waste of your resources. If you want to save until you die, then go for it (that's what investment companies want you to do). I suggest invest your money in building a network of friends who will be future asset for you. A group of friends hel... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should a high-school student invest their (relative meager) savings? | Nobody has mentioned your "risk tolerance" and "investment horizon" for this money. Any answer should take into account whether you can afford to lose it all, and how soon you'll need your investment to be both liquid and above water. You can't make any investment decision at all and might as well leave it in a deposi... |
Share your insights or perspective on the financial matter presented in the input. | Should a high-school student invest their (relative meager) savings? | If you have no immediate need for the money you can apply the Rule of 72 to that money. Ask your parent's financial advisor to invest the money. Based on the rate of return your money will double like clockwork. At 8% interest your money will double every 9 years. 45 years from now that initial investment will have ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Pending euro payment to a usd account | Currency exchange is rather the norm than the exception in international wire transfers, so the fact that the amount needs to be exchanged should have no impact at all. The processing time depends on the number of participating banks and their speeds. Typically, between Europe and the US, one or two business days are t... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why would my job recruiter want me to form an LLC? | Your recruiter is likely trying to avoid having to pay the employer's side of employment taxes, and may even be trying to avoid having to file a 1099 for you by treating your relationship as a vendor/service provider that he is purchasing services from, which would make your pay just a business expense. It's definitely... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why would my job recruiter want me to form an LLC? | This sounds very like disguised employment. You act like an employee of the company, but your official relationship with them is as a contractor. You gain none of the protection you get from being an employee, and this may make you cheaper, less risky and more desirable for the company who is hiring you. Depending on ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why would my job recruiter want me to form an LLC? | There are a few sites out there that can give you some reasoning behind the request. LegalZoom, for instance. To quote the LZ doc in case the link dies: Employee vs. Independent Contractor If a worker is an employee, the employer is responsible for paying Social Security, unemployment insurance, Medicare, and possib... |
Share your insights or perspective on the financial matter presented in the input. | Why would my job recruiter want me to form an LLC? | I don't know about the US, but in the UK this is common practice, even required in some situations, and not sketchy at all. It's perfectly legal, saves you tax, and protects you from a legal standpoint. (i.e. what if you break something and your employer wants to sue you?) This is what companies are for, they are legal... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why would my job recruiter want me to form an LLC? | The "independent contractor" vs. "employee" distinction is a red herring to this discussion and not at all important just because someone suggested you use your LLC to do the job. Corp-2-Corp is a very common way to do contracting and having an LLC with business bank accounts provides you with more tax deductions (such... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why would my job recruiter want me to form an LLC? | This is pretty normal. I am in the UK and currently doing the exact same thing. As some answers state there is additional tax law called IR35. But thats all it is, an additional tax law that may be applicable to your situation (it very well may not). It is all perfectly legal and common (all my university friends no... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why would my job recruiter want me to form an LLC? | LLC is, as far as I know, just a US thing, so I'm assuming that you are in the USA. Update for clarification: other countries do have similar concepts, but I'm not aware of any country that uses the term LLC, nor any other country that uses the single-member LLC that is disregarded for income tax purposes that I'm refe... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should I Purchase Health Insurance Through My S-Corp | The answer seems to depend on where you live. Perhaps you already found this, but the summary from the IRS is: The insurance laws in some states do not allow a corporation to purchase group health insurance when the corporation only has one employee. Therefore, if the shareholder was the sole corporate employee, the s... |
Share your insights or perspective on the financial matter presented in the input. | Should I Purchase Health Insurance Through My S-Corp | I'm not sure about reimbursement, you'll have to talk to a tax adviser (CPA/EA licensed in your State). From what I know, if you pay your own insurance premiums - they're not deductible, and I don't think reimbursements change that. But again - not sure, verify. However, since you're a salaried employee, even if your o... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Tax: 1099 paper form | You can print them on any IRS-approved paper, you don't have to use pre-printed forms. The IRS publishes specifications for paper that is approved for use for these kinds of forms (109*, W*, etc). Here's the reason why it is important: Even the slightest deviation can result in incorrect scanning, and may affect money... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | As director, can I invoice my self-owned company? | Sure you can. Obviously it means your company will make less profit, saving you 20% corporation tax, while your personal income will be higher, meaning you will likely spend more than 20% in income tax and National Insurance contributions. |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | As director, can I invoice my self-owned company? | No, as a director normally you can't. As a director of a Limited company, all those payments should be accounted for as directors' remuneration and have been subject to PAYE and NIC, even if you are self-employed. Currently there is no legislation which prevents a director from receiving self-employment income from a c... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Meaning of capital market | Just to clarify, In wikipedia when it says It is defined as a market in which money is provided for periods longer than a year They are referring to the company which is asking for money. So for example the stock market provides money to the issuing company of an IPO, indefinitely. Meaning the company that just went p... |
Share your insights or perspective on the financial matter presented in the input. | Meaning of capital market | 1) Are the definitions for capital market from the two sources the same? Yes. They are from two different perspectives. Investopedia is looking at it primarily from the perspective of a trader and they lead-off with the secondary market. This refers to the secondary market: A market in which individuals and instituti... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Do financial advisors get better deals on mortgages? | Yes, maybe for themselves, but for you that depends on quite a number of things. But not all advisors are scum, but accept the fact that you are their cash cow and you are there for their takings. Some advisors are true to their professions and advise ethically, trying to get the best for their clients. So search for a... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Effective returns on investment in housing vs other financial instruments | Then at the end, if you decide to cash in your house, you can roll the proceeds into a fancier house to avoid paying taxes on your profit. The problem is that the book was written in 1989. That comment is no longer true; that part of the tax law changed in the 1990's. Also in 1989 the maximum amount that person could... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Effective returns on investment in housing vs other financial instruments | Thinking of personal residence as investment is how we got the bubble and crash in housing prices, and the Great Recession. There is no guarantee that a house will appreciate, or even retain value. It's also an extremely illiquid item; selling it, especially if you're seeking a profit, can take a year or more. ' Housin... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Effective returns on investment in housing vs other financial instruments | The assumption that house value appreciates 5% per year is unrealistic. Over the very long term, real house prices has stayed approximately constant. A house that is 10 years old today is 11 years old a year after, so this phenomenon of real house prices staying constant applies only to the market as a whole and not to... |
Share your insights or perspective on the financial matter presented in the input. | Freelance site with lowest commission fees? | Your own site/business. I’m in freelancing and internet business for 15 years, 20 years IT experience. Currently i use freelance websites for cheap Asian employees, very seldom for EU/USA employees, and if only if local competition is heavily out-pricing qualified staff. Till I went "limited" i.e., founded a limited co... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Apartment lease renewal - is this rate increase normal? | Should you negotiate? Yes, what harm can it possibly do? The landlord is unlikely to come back and say "Because you tried to negotiate, I'm putting the rent up by 10% instead.", or to evict a paying tenant merely because they tried to negotiate. Is the proposed rent increase "normal"? Yes. Landlords will generally try ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Apartment lease renewal - is this rate increase normal? | There could be a number of reasons for a rent increase. The only information I can offer is how I calculate what rent I will charge. The minimum I would ever charge per unit (Mortgage payment + Water) / Number of units This number is the minimum because it's what I need to keep afloat. Keep in mind these are ballpark ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Apartment lease renewal - is this rate increase normal? | There has been almost no inflation during 2014-2015. do you mean rental price inflation or overall inflation? Housing price and by extension rental price inflation is usually much higher than the "basket of goods" CPI or RPI numbers. The low levels of these two indicators are mostly caused by technology, oil and food p... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Apartment lease renewal - is this rate increase normal? | Yes, automatic rate increases are typical in my experience (and I think it's very greedy, when it's based on nothing except that your lease is up for renewal, which is the situation you are describing). Yes, you should negotiate. I've had success going to the apartment manager and having this conversation: Make these ... |
Share your insights or perspective on the financial matter presented in the input. | Apartment lease renewal - is this rate increase normal? | What happened in the past, the rent you paid last year, is in the past. You shouldn't be concerned with the percentage increase, but with whether you want that apartment at the new rent for the coming year. If your rent had been half what it was last year and the new proposal were to double it, you would be outraged ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Apartment lease renewal - is this rate increase normal? | If it is true that for the same price, you could get a better place (or that for a lower price you could get an equivalent place), you should do some soul-searching to decide what monetary value you would place on the hassle of moving to such an alternative. You should then negotiate aggressively for a rent that is no... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Apartment lease renewal - is this rate increase normal? | I think people are missing the most obvious thing. The yearly rate increases are just part of the landlord schtick and it is good business for them. My grandmother owned several large apartment complexes. She would raise rates for any resident that had been there between 1-5 years by 5-7% a year. Even when she had ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Apartment lease renewal - is this rate increase normal? | Absolutely yes. Just because a lease provides an option for renewal does not mean that a tenant cannot try to re-negotiate for better terms. You should always negotiate the rent. And start this conversation as soon as possible. Offer to pay three months’ rent in advance (of course, if you have enough means). |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | California resident, Delaware C-Corp - Taxes for 1-person software freelancer? | Supposedly this also means that I am free from having to pay California corporate taxes? Not in the slightest. Since you (the corporate employee) reside in CA - the corporation is doing business in CA and is liable for CA taxes. Or, does this mean I am required to pay both CA taxes and Delaware fees? (In this case,... |
Share your insights or perspective on the financial matter presented in the input. | Frustrated Landlord | You are not a landlord. You have choices: The current situation is charity. And that's ok, so long as you acknowledge it. In the big picture, anything less than market rent is a gift that you are giving the person living in your house. A good tenant might keep the place in better shape, and deserve a lower rent, but t... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Frustrated Landlord | You're worried about your tenant. That just means you're a nice guy, and it's ok to be nice. At the same time, you can't be expected to lose money on the property or charge well below market on the rent. My suggestions: You know what? She'll totally understand. You've been super nice in keeping the rent low for so many... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Frustrated Landlord | If you're losing money or breaking even, you own a bad investment. The problem you have is that you are emotionally invested in your tenant. That isn't a bad thing in general but it's costing you money and, unless interest rates fall enough to justify a refi or property taxes go down in your area, that's kind of unlik... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Frustrated Landlord | Renting your property out at less than market rates is a form of charity. Your heart says that this is the right thing to do, your bank account says no. And so does your wife. This isn't a question for the Money stack exchange, I think ... But since you are asking here: |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Frustrated Landlord | If you're sinking 1k/year into it, and the value is rising by $100k in 15 years, or $6k/year, you have a fine investment. Ignore the wife, she just wants something even better. |
Share your insights or perspective on the financial matter presented in the input. | Where do web sites get foreign exchange currency rate / quote information? | The prices quoted are for currency pairs traded on the foreign exchange market. For currencies traded on these exchanges, the exchange rates of a given currency pair are determined by the market, so supply and demand, investor confidence, etc. all play a role. EBS and Reuters are the two primary trading platforms in th... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Will I be paid dividends if I own shares? | What is a dividend? Essentially, for every share of a dividend stock that you own, you are paid a portion of the company’s earnings. You get paid simply for owning the stock! For example, let’s say Company X pays an annualized dividend of 20 cents per share. Most companies pay dividends quarterly (four times a year), m... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Will I be paid dividends if I own shares? | Yes, as long as you own the shares before the ex-dividend date you will get the dividends. Depending on your instructions to your broker, you can receive cash dividends or you can have the dividends reinvested in more shares of the company. There are specific Dividend ReInvestment Plans (or DRIPs) if you are after stoc... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Will I be paid dividends if I own shares? | gnasher729, was able to see my problem here. It was a silly oversight. It's not 50p a share, its 0.5p a share. @Bezzzo: The dividend is not 50p per share, it is 0.50p per share - half a penny per share. Thanks! |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Why would I choose a 40-Year depreciation instead of the standard 27.5-Year? | There are specific cases where you are required to use ADS: Required use of ADS. You must use ADS for the following property. Listed property used 50% or less in a qualified business use. See chapter 5 for information on listed property. Any tangible property used predominantly outside the United States during the ye... |
Share your insights or perspective on the financial matter presented in the input. | Investor returns from crowdfunding | Crowdfunding can be a legitimate means of funding very small startups. It is an innovative, but obviously risky, method of raising small amounts of money. As such it is now regulated by the SEC under "Regulation Crowdfunding" They have published guides for these types of business startups to help them with required dis... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should I be claiming more than 1 exemption? | It's not possible to determine whether you can "expect a refund" or whether you are claiming the right number of exemptions from the information given. If your wife were not working and you did not do independent contracting, then the answer would be much simpler. However, in this case, we must also factor in how mu... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should I be claiming more than 1 exemption? | J - Approaching the answer from the W4 perspective (for calculation purposes) may be more trouble that it's worth. I'd strongly suggest you use tax software, whether it's the 2016 SW or a current year one, on line, to get an estimate of your total tax bill for the year. You can then look at your current run rate of tax... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | How long to wait after getting a mortgage to increase my credit limit? | I'm not sure what raising your credit limit would do to your score in the short term. I don't think it's a clear win, though. Your percent utilization will go down (more available credit for the same amount of debt) but your available credit will also go up, which may be a negative, since potentially you can default ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How long to wait after getting a mortgage to increase my credit limit? | 8 hard inquiries spread over two years is not a negative factor, with a score of 750. Real question #1: How much of your credit limits are you currently using? Less than 30% of your credit limits is good. Less than 15% is even better, 10% is great You don't need to wait X amount of days after applying for a mortgage or... |
Share your insights or perspective on the financial matter presented in the input. | How long to wait after getting a mortgage to increase my credit limit? | Specific to the inquiries, from my Impact of Credit Inquiries article - 8 is at the high end pulling your score down until some time passes. As MB stated, long term expanding your credit will help, but short term, it's a bit of a hit. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How long to wait after getting a mortgage to increase my credit limit? | My recommendation is to not ask for a credit increase, but just increase the utilization of one card if you have multiple cards, and decrease the utilization of the others, and continue paying off all cards in full each month. In a few months, you will likely be offered a credit increase by the card that is getting ... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Can I transfer my West Australian rock lobster quota units into my SMSF? | SMSFs are generally prohibited from acquiring assets from related parties (whether it is purchased by the SMSF or contributed into the fund). There are some exceptions to the above rule for acquiring related party assets, including: • Listed securities (ie shares, units or bonds listed on an approved stock exchange, su... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | 250k USD in savings. What's next? | Considering the historical political instability of your nation, real property may have higher risk than normal. In times of political strife, real estate plummets, precisely when the money's needed. At worst, the property may be seized by the next government. Also, keeping the money within the country is even more r... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | 250k USD in savings. What's next? | Find a good financial advisor that is willing to teach you and not just interested in making a commission on your net worth. Talk to them and talk some more. Go slow and don't make impulsive buying decisions. If you don't understand it then don't buy it. Think long term - how do I turn this 250K into 2.5M? Congrats on ... |
Share your insights or perspective on the financial matter presented in the input. | 250k USD in savings. What's next? | You're off to a great start. Here are the steps I would take: 1.) Pay off any high-interest debt. 2.) Keep six to twelve months in a highly liquid emergency fund. If the banks aren't safe, also consider having one or two months of cash or cash-equivalents on the premises. 3.) Rent a larger apartment, if possible, until... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | 250k USD in savings. What's next? | A good answer to the question really depends on where you want to live, ultimately. Where you want to live pretty much dictates your investment priorities. If you want to invest in "terrain" so you can build a house next to all the "cool," people in Guayaquil that should be your first priority. Your new wife may have a... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Interest on self assessment tax | Assuming you are Resident Indian. As per Indian Income Tax As per section 208 every person whose estimated tax liability for the year exceeds Rs. 10,000, shall pay his tax in advance in the form of “advance tax”. Thus, any taxpayer whose estimated tax liability for the year exceeds Rs. 10,000 has to pay his tax in... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Can I pay a loan under someone else's name? (assume the dispenser of the loan is malicious) | I don't think there's anything to worry about. TFS doesn't really care who's paying, as long as the loan is being paid as agreed. Of course you're helping your dad's credit history and not your own, but I doubt TFS would give back money just because it came from your bank account. A business may claim a payment wasn'... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | How can one protect oneself from a dividend stock with decreasing price? | An alternative options strategy to minimize loss of investment capital is to buy a put, near the money around your original buy price, with a premium less than the total dividend. The value of the put will increase if the stock price falls quickly. Likely, a large portion of your dividend will go towards paying the opt... |
Share your insights or perspective on the financial matter presented in the input. | How can one protect oneself from a dividend stock with decreasing price? | Your question reminds me of a Will Rogers quote: buy some good stock, and hold it till it goes up, then sell it. If it don’t go up, don’t buy it. There's no way to prevent yourself from buying a stock that goes down. In fact all stocks go down at some times. The way to protect your long term investment is to diversif... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | How can one protect oneself from a dividend stock with decreasing price? | If by saying you wish to invest "for the long term 5-10 years" I take it you mean to hold a stock for between 5-10 years. If this is the case, this is the fundamental flaw in your screening algorithm. No company stock price continues to go up without end for 5-10 years. The price of every company's stock goes down at s... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | How can one protect oneself from a dividend stock with decreasing price? | A specific strategy to make money on a potentially moderately decreasing stock price on a dividend paying stock is to write covered calls. There is a category on Money.SE about covered call writing, but in summary, a covered call is a contract to sell the shares at a set price within a defined time range; you gain a p... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What's the best way to make money from a market correction? | What's the best strategy? Buy low and sell high. Now. A lot of people try to do this. A few are successful, but for the most part, people who try to time the market end up worse. A far more successful strategy is to save over your entire lifetime, put the money into a very low-cost market fund, and just let the average... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What's the best way to make money from a market correction? | The best way to make money during a market correction is to be a financial services company handling transactions for people who think they can beat the market, and charging a percentage commission on each transaction, while keeping your own money somewhere nice and safe, stable and low-fee. |
Share your insights or perspective on the financial matter presented in the input. | What's the best way to make money from a market correction? | As ChrisInEdmonton describes, shorting has an asymmetric risk/reward ratio. And put options have a time cost, if you think the market is overvalued and buy lots of puts, but they expire before the market finally corrects, you can lose your entire investment. Betting on market timing of any kind is extremely difficult ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What's the best way to make money from a market correction? | There are several ways to protect against (or even profit from) a market correction. Hedge funds do this by hedging, that is, buying a stock that they think is strong and selling short a paired stock that is weak. If you hold, say, a strong retail company in your portfolio, you might sell short an equal weight of a wea... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What's the best way to make money from a market correction? | If you are sure you are right, you should sell stock short. Then, after the market drop occurs, close out your position and buy stock, selling it once the stock has risen to the level you expect. Be warned, though. Short selling has a lot of risk. If you are wrong, you could quite easily lose all $80,000 or even substa... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | What's the best way to make money from a market correction? | There are a few ways to make money from a market correction: |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | What's the best way to make money from a market correction? | Do you want to do it pre or post correction? If you're bearish on the market the obvious thing to do is short an index. I would say this is kind of dumb. The main problem is that it may take months or years for the market to crash, and by then it will have gone up so much that even the crash doesn't bring you profit, a... |
Share your insights or perspective on the financial matter presented in the input. | What's the best way to make money from a market correction? | For a non-technical investor (meaning someone who doesn't try to do all the various technical analysis things that theoretically point to specific investments or trends), having a diverse portfolio and rebalancing it periodically will typically be the best solution. For example, I might have a long-term-growth portfoli... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | What's the best way to make money from a market correction? | Depends on how long you're willing to invest for. Broadly speaking, the best (by which I mean, more reliably repeatable) way to make money from market corrections is to accept them as a fact of life, and not sell in a panic when they happen, such that the money you already invested can ride back up again. Put another w... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | What's the best way to make money from a market correction? | A lot of people here talk about shorting stocks, buying options, and messing around with leveraged ETFs. While these are excellent tools, that offer novel opportunities for the sophisticated investor, Don't mess around with these until you have been in the game for a few years. Even if you can make money consistently r... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Do I need to prove 'Garage Sale' items incurred a loss | This is what this sounds like to me: https://www.thebalance.com/having-a-garage-sale-or-yard-sale-what-to-do-first-399030 also: http://blogs.hrblock.com/2012/07/25/garage-sale-money-does-the-irs-need-to-know/ Selling a personal item at a loss is generally not a taxable event. You cannot report it as a loss, and the IRS... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Do I need to prove 'Garage Sale' items incurred a loss | -Alain Wertheimer I'm a hobbyist... Most (probably all) of those older items were sold both prior to my establishing the LLC This is a hobby of yours, this is not your business. You purchased all of these goods for your pleasure, not for their future profit. The later items that you bought after your LLC was establish ... |
Share your insights or perspective on the financial matter presented in the input. | Why should a company go public? | You go public to raise money, to invest in the business and/or pay off the existing shareholders. It's really as simple as that. The advantage of being public is that your shares can easily be bought and sold, and so you can issue and sell new ones and your existing shareholders can sell out if they want to. The disadv... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Why should a company go public? | Most businesses want to grow, and there are a variety of ways to raise the money needed to hire new employees and otherwise invest in the business to increase the rate of that growth. You as a stock holder should hope that management is choosing the least expensive option for growth. Some of the options are debt, selli... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Why should a company go public? | The reason to go public is to get money. Not to be snarky, but your question is like asking, "Why should a company try to sell its products, when if they just piled them up in a warehouse they wouldn't have to worry about shipping and customer complaints and collecting sales tax?" The answer, of course, is because they... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Why should a company go public? | The purpose is to go public but also to generate more wealth. The real money comes when market values you at a price more than your cash flow. If a company brings in $1000 of cash flow, then that is what the employees and owners have to distribute among themselves. But if they are likely to increase to $2000 next and $... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Where can I find definitive terms for a preferred share? | This site has the best information I could find, other than a Bloomberg terminal: Quantumonline.com QUANTUMONLINE.COM SECURITY DESCRIPTION: SCANA Corp., 2009 Series A, 7.70% Enhanced Junior Subordinated Notes, issued in $25 denominations, redeemable at the issuer's option on or after 1/30/2015 at $25 per share plus... |
Share your insights or perspective on the financial matter presented in the input. | Should we prepay our private student loans, given our particular profile? | See my recent answer to a similar question on prepaying a mortgage versus investing in IRA. The issue here is similar: you want to compare the relative rates of funding your retirement account versus paying down your debt. If you can invest at a better rate than you are paying on your debt, with similar risk, then you ... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Should we prepay our private student loans, given our particular profile? | You're in good shape as long as your income stays. Your only variable-rate debt now is your private student loan. I think you'd be wise to pay that down first, and you sense that already. Worst-case, in the event of a bankruptcy, student loans usually cannot be discharged, so that isn't a way out. Once that loan is go... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | Should we prepay our private student loans, given our particular profile? | You're doing great. I'd suggest trying get putting 5-10% towards your retirement and the balance to the student loans. You are a little weak in retirement savings, but you have $550k house with 20% equity that you bought at the bottom of the market. That's a smart investment IMO, and in my mind compensates somewhat fo... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Should we prepay our private student loans, given our particular profile? | Based on your numbers, it sounds like you've got 12 years left in the private student loan, which just seems to be an annoyance to me. You have the cash to pay it off, but that may not be the optimal solution. You've got $85k in cash! That's way too much. So your options are: -Invest 40k -Pay 2.25% loan off -Prepay ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Should we prepay our private student loans, given our particular profile? | Just for another opinion, radio host Clark Howard would suggest killing the private student loans as quickly as possible. The only reason is the industry around private student loans has fewer rules as to how they interact with you, and they have historically been very unpleasant if you have to deal with them in bad f... |
Share your insights or perspective on the financial matter presented in the input. | Should we prepay our private student loans, given our particular profile? | Don't frett to much about your retirement savings just put something towards it each year. You could be dead in ten years. You should always try to clear out debt when you can. But don't wipe yourself out! Expedite the repayment process. |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | At what age should I start or stop saving money? | As AskAboutGadgets notes, there's no lower age limit. You current age (24) is a pretty good one; you'll have four decades or so for your money to grow and compound, allowing it to become a veritable fortune when you're ready to retire if you invest it fairly aggressively. |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | At what age should I start or stop saving money? | While there is no age limit, bear in mind that saving money makes sense only if it doesn't delay your paying off expensive debt. If you have credit cards or expensive loans you would be best placed to focus on paying them down before saving a lot. If you save and keep debt, you'll effectively lose money as the interest... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | At what age should I start or stop saving money? | Are you working? Does your employer offer a 401(k) and if so, is there any match? Saving should be taught to kids at the same time they are old enough to get an allowance. There are many numbers tossed around, but 10% is a start for any new saver. If a college graduate can start by saving even 15%, better still. If yo... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | At what age should I start or stop saving money? | There is no age-limit, in fact the sooner you start the better - the sooner the money starts to compound. |
Share your insights or perspective on the financial matter presented in the input. | At what age should I start or stop saving money? | As all said, the age limitation thing is nothing, and saving money not necessarily means to live poor nor Skimpy, spend your needs and try to get what you need instead of what you want, the 24 years old is a good start for saving money, the whole life still in front of you Good luck! |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | At what age should I start or stop saving money? | It's nearly always a good idea to save for your future, if you don't already have sufficient funds to see out the rest of your days. The hardest part of the saving decision is knowing exactly what portion of your funds to save. If we save too aggressively, we risk having an adverse impact on our everyday life and, of c... |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | At what age should I start or stop saving money? | You've never saved money? Have you ever bought anything? There probably was a small window of time that you had to pool some cash to buy something. In my experience, if you make it more interesting by 'allocating money for specific purposes' you'll have better results than just arbitrarily saving for a rainy day. ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | Does investing money in other currencies help pad losses in case of a stock market crash? | If the equity market in the USA crashed, its very likely equity markets everywhere else would crash. The USA has a high number of the world's largest businesses and there are correlations between equity markets. So you need to think of equities as a global asset class, not regional. Your question is then a question abo... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | Accepting personal “donations” (not as a non-profit) | I see two ways you can handle this. Use the gifts for the purpose of creating more free software. This is fundraising, and your cause is writing free software. The language is a little tricky from the PayPal Donate button (emphasis mine): This button is intended for fundraising. If you are not raising money for a c... |
Share your insights or perspective on the financial matter presented in the input. | Accepting personal “donations” (not as a non-profit) | I would be inclined to back the 'tip jar' weblink idea, this is very prolific within the Twitch community, as a method of tipping and thereby supporting content creators. I know that there are numerous tutorials on how to set up 'tip' sites for such usage, so that may point you in the right direction. Also you could tu... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | Accepting personal “donations” (not as a non-profit) | Lots of webcomic sites now have "tip jar" links, or let supporters send money via services like Patrion. I presume other kinds of sites have developed similar solutions. I'd suggest you go out, wander the web a bit looking for such, then contact the sites' owners to ask how it's been working for them |
Utilize your financial knowledge, give your answer or opinion to the input question or subject . Answer format is not limited. | how does one start an investing club (as a company)? | As for the letting the "wise" people only make the decisions, I guess that would be a bit odd in the long run. Especially when you get more experienced or when you don't agree with their decision. What you could do, is make an agreement that always 3/4 (+/-) of the partners must agree with an investment. This promotes ... |
Offer your insights or judgment on the input financial query or topic using your financial expertise. Reply as normal question answering | how does one start an investing club (as a company)? | +1 for noting that you are in it for the long haul. I also think this is a great project and activity to do with friends. Setting up and start-up investment company could be done as a simple LLC. The decision making process can be decided among the members -- if you want to defer to the others then so be it. Make it ... |
Based on your financial expertise, provide your response or viewpoint on the given financial question or topic. The response format is open. | how does one start an investing club (as a company)? | Taxes are the least of your concerns. Your friends need licenses. Although this COULD be avoided entirely with certain craftily worded disclaimers and exemptions and the WAY that money is given to them. |
Share your insights or perspective on the financial matter presented in the input. | Is a debt collector allowed to make a hard inquiry on your credit report? | According to the Fair Credit Reporting Act: any consumer reporting agency may furnish a consumer report [...] to a person which it has reason to believe [...] intends to use the information in connection with a credit transaction involving the consumer on whom the information is to be furnished and involving the exte... |
Offer your thoughts or opinion on the input financial query or topic using your financial background. | In the UK, can authors split a single advance on a book over multiple tax returns? | HMRC calls it: Averaging for creators of literary or artistic works, and it is the averaging of your profits for 2 successive years. It's helpful in situations like you describe, where income can fluctuate wildly from year to year, the linked article has the full detail, but some of the requirements are: You can use av... |
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