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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Safe method of paying for a Gym Membership? ### Answer: I once was reviewing one of those contracts with plenty of bad clauses in it, sitting across from the salesman whose commission depending on me ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Safe method of paying for a Gym Membership? ### Answer: The safest way is to not sign contracts with terms that are onerous to you. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do cashier's checks work and why are they good for scams? ### Answer: There are two different issues at play here, and they are completely separate from each other: A bank or cashier's check is "s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do cashier's checks work and why are they good for scams? ### Answer: Ok, few things to understand first: Secondly, think about the way a scam usually flows. A person (scammer) with an actual bank...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Repairs to a house in order to rent it that were paid by the beneficiary, but is still owned by a Trust ### Answer: The Trustee has allowed me to act as his "agent", continuing to pay bills, and tak...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Economics of buy-to-let (investment) flats ### Answer: Surely the yield should be Yield = (Rent - Costs) / Downpayment ? As you want the yield relative to your capital not to the property value. As fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Economics of buy-to-let (investment) flats ### Answer: Lucky you - here where I live that does not work, you put money on the table year 1. Anyhow... You HAVE to account for inflation. THat is where ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Economics of buy-to-let (investment) flats ### Answer: Seems like a bad deal to me. But before I get to that, a couple of points on your expenses: Onward. You value a property by calculating its CAP r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Economics of buy-to-let (investment) flats ### Answer: but the flat would be occupied all the time. Famous last words. Are you prepared to have a tenant move in, and stop paying rent? In the US, it ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Work as a contractor for my current employer rather than become a full time employee after my graduation for health insurance continued coverage ### Answer: There are several assumptions you made, tha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: fastest way to move USD to EUR ### Answer: You're asking three different things: What is the fastest way, what is the cheapest way and what is the easiest way. You will not find one method that is a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to minimize damage from sale of savings account ### Answer: Bank of America has been selling off their local branches to smaller banks in recent years. Here are a few news stories related to this...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I made an investment with a company that contacted me, was it safe? ### Answer: Just browsed their website. Not a single name of anybody involved. Their application process isn't safe(No https usage w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I made an investment with a company that contacted me, was it safe? ### Answer: My personal experience tells me that nearly 100% of people who approach you have their own interests in mind. Things you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I made an investment with a company that contacted me, was it safe? ### Answer: You can contact the french agency for stock regulation and ask them : http://www.amf-france.org/ ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I made an investment with a company that contacted me, was it safe? ### Answer: It is a Scam. Don't invest more money here. Their website is the proof. Investments may appreciate or depreciate and you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Old Cancelled Cards ### Answer: FICO 08, a newer fico formula that many lenders are simultaneously switching to now, ignores artificially lengthened credit history/score by piggybacking. So don't feel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Old Cancelled Cards ### Answer: Closed accounts are used when calculating Average Age of Accounts (AAoA) by FICO. They will drop off your report 7 years after their closure, at which time your AAoA wi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to avoid tax when taking a windfall in small chunks? ### Answer: How can I avoid this, so we are taxed as if we are making the $60k/yr that we want to receive? You can't. In the US the income is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to avoid tax when taking a windfall in small chunks? ### Answer: I agree with the other posters that you will need to seek the advice of a tax attorney specializing in corporate taxation. Here is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does FlagStar Bank harass you about payments within grace period? ### Answer: A quick Google search for FlagStar Bank shows that this is their standard practice. Quite a few people are complaining...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does FlagStar Bank harass you about payments within grace period? ### Answer: They call you because that is their business rules. They want their money, so their system calls you starting on the 5...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does FlagStar Bank harass you about payments within grace period? ### Answer: One option is to try to get a month ahead on your mortgage payments. Rather than using the current month's rent to pa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why does FlagStar Bank harass you about payments within grace period? ### Answer: All standard mortgage promissory notes mandate payments are due on the first of every month; I can almost guarantee th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is is possible to take a mortgage using Bitcoin as collateral? ### Answer: This doesn't make any sense. For the people who ask you this, suggest that they borrow the money to invest with you. They ca...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Reconciling transactions reimbursing myself for expenses as self-employed (UK) ### Answer: For anyone that's curious, I had a number of chats with Quickbooks who recommended I import only the relevant...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Reconciling transactions reimbursing myself for expenses as self-employed (UK) ### Answer: Any money that ScottMcGready gives to the company is a personal loan that must be repaid by the company at so...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is being a landlord a good idea? Is there a lot of risk? ### Answer: Risk is the capital you have staked in pursuit of profit. The danger is that you lose what you have risked. For some bets (risks),...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is being a landlord a good idea? Is there a lot of risk? ### Answer: I have been a landlord in Texas for just over 3 years now. I still feel like a novice, but I will give you the benefit of my experi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is being a landlord a good idea? Is there a lot of risk? ### Answer: If you are able to buy a 150K home for 50K now that would be a good deal! However, you can't you have to borrow 100K in order to m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is being a landlord a good idea? Is there a lot of risk? ### Answer: Based on what you've said I think buying a rental is risky for you. It looks like you heard that renting a house is profitable and ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is being a landlord a good idea? Is there a lot of risk? ### Answer: Rather than thinking of becoming a landlord as a passive "investment" (like a bank account or mutual fund), it may be useful to thi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is being a landlord a good idea? Is there a lot of risk? ### Answer: Buying a property and renting it out can be a good investment if it matches your long term goals. Buying an investment property is...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are account holders with a bank better able to receive a loan from that bank? ### Answer: Banks are businesses, and as such should have the right to refuse service, so they should probably be able to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is your effective tax rate if you work from home in Montreal for a company in Toronto? ### Answer: Assuming that you don't own the business, it would seem to apply. The CRA says: If you were a re...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is your effective tax rate if you work from home in Montreal for a company in Toronto? ### Answer: For tax purposes, what matters is your province of residence at December 31st. Quebec Tax abatem...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Germany: Employee and Entrepreneur at same time (for getting AppStore payments) ### Answer: (Selling apps is AFAIK business, not freelancing - unless the type of app you produce is considered a freela...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Germany: Employee and Entrepreneur at same time (for getting AppStore payments) ### Answer: In Germany you can register a Einzelunternehmen and receive payments into your personal bank account with a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As a total beginner, how do I begin to understand finance & stocks? ### Answer: Your understanding of the stock market is absolutely correct theoretically. However there is a lot more to it. A stock o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As a total beginner, how do I begin to understand finance & stocks? ### Answer: Your questions seek answers to specifics, but I feel that you may need more general help. There are two things, I feel, ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As a total beginner, how do I begin to understand finance & stocks? ### Answer: I think you've got basics, but you may have the order / emphasis a bit wrong. I've changed the order of the things you'v...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As a total beginner, how do I begin to understand finance & stocks? ### Answer: How I understand it is: supply/demand affect price of stock negatively/positively, respectively. Correct. Volume is th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As a total beginner, how do I begin to understand finance & stocks? ### Answer: Let me first give you my definitions of the words 'investor' and 'speculator'. To me, anyone looking to 'buy low, sell h...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are social media accounts (e.g. YouTube, Twitter, Instagram, etc.) considered assets? ### Answer: Assets with zero value, perhaps. Unless you can prove that they have resale value. Good luck with tha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are social media accounts (e.g. YouTube, Twitter, Instagram, etc.) considered assets? ### Answer: The buyer of such an account is likely treating it as an asset, and if they ever resell it capital ga...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is this follow-up after a car crash a potential scam? ### Answer: Do not give them any money until you have a signed contract that releases your liability completely. It's imperative that this contrac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is this follow-up after a car crash a potential scam? ### Answer: You have to realize that you're trying to have your cake and eat it too. You want to do things "unofficially" by not reporting the ac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is this follow-up after a car crash a potential scam? ### Answer: You wouldn't pay what the quote says, you would pay what the bill says. If the car is used as a taxi then either it's done illegally a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is this follow-up after a car crash a potential scam? ### Answer: I would write them a check or give them cash money. There are payment receipt forms available online, you can print one of have them f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? ### Answer: This is another version of an old scam -- "let me have a check deposited in your account because I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? ### Answer: I know people who work in the gulf and most contracts are of the 14 days on/ 14 days (or so) off f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? ### Answer: 100% scam. This is classic of mixing real (Exxon) with fiction. This gives credibility to story. D...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? ### Answer: A friend since July online and big business talks and trust/money forwards. Usually a question "i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? ### Answer: Just one further point to add to what everyone else has said. There are no oil rigs or platforms "...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? ### Answer: As a woman who was once married to someone who worked offshore in the North Sea, in the Gulf of Me...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? ### Answer: This is not only a scam but it is potentially fraud that may get you in trouble. This "friend" of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate? ### Answer: In many countries it is a legal requirement or in some other way mandatory for the banks to ban th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Avoid Capital Gains on Rental ### Answer: Don't let the tax tail wag the investment dog. There is risk in exchanging this (known) property for another (unknown) property. That risk may be more than $9...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Avoid Capital Gains on Rental ### Answer: Your question is best asked of a tax expert, not random people on the internet. Such an expert will help you ask the right questions. For example you did not...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Avoid Capital Gains on Rental ### Answer: While it may not be your preferred outcome, and doesn't eliminate the income, in the event you find yourself in the path described here you have a way to defe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Avoid Capital Gains on Rental ### Answer: Just brainstorming here, but my gut feeling is it should be possible to sell your home to yourself with the sole purpose of resetting your basis. Taken at fac...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Avoid Capital Gains on Rental ### Answer: What you are looking for is a 1031 exchange. https://www.irs.gov/uac/like-kind-exchanges-under-irc-code-section-1031 Whenever you sell business or investment ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How far do I go with a mortgage approval process when shopping around? ### Answer: As per my comments, I think this is up to you and how much work you want to put forth. I do not feel it is trivial t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Official Bank Check ### Answer: The legal department at the Bank left me a message telling me that the bank check was paid & the recipient got the funds. Call up the bank and find out who the recipien...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Official Bank Check ### Answer: How? Basically all banks nowadays allow online deposits from a smartphone - you take a picture from the front and back of the check, and submit it, and that's it. You s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Economics: negative consumer sentiment following failure to upsell ### Answer: There are several different participants in the transaction, and you may not be aware of all the issues: In some business...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing in a offshore bank account ### Answer: when investing in index funds Index fund as the name suggests invests in the same proportion of the stocks that make up the index. You can choose a Ind...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance rental property or own outright? ### Answer: To answer some parts of the question which are answerable as-is: Yes, mortgage interest is deductible. So is depreciation. See this questi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I finance rental property or own outright? ### Answer: In general you do not want to show a taxable gain on rental properties if you can avoid it. One of the more beneficial advantages of owni...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to start personal finances? ### Answer: I'm assuming you're in Germany or Europe based on your question, but here's an American's perspective that should pertain you you as well: Once you have a s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to start personal finances? ### Answer: Personal finances are not intuitive for everyone, and it can be a challenge to know what to do when you haven't been taught. Congratulations on recognizing...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to start personal finances? ### Answer: A few practical thoughts: A practical thing that helps me immensely not to loose important paperwork (such as bank statements, bills, payroll statement, all...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to start personal finances? ### Answer: There are many paths to success, but they all begin with education. You made the first big step just by visiting here. We have 17,000 questions, arranged by...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What options exist to make money in the US on a work-restricted visa? ### Answer: Income generated from online sales is not considered "passive income", so you need to be authorized to work in the U.S...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What options exist to make money in the US on a work-restricted visa? ### Answer: Are you planning to not pay taxes? Any time someone has income in the U.S., it is subject to U.S. taxes. You must file...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is threatening to close the account a good way to negotiate with the bank? ### Answer: If this matters to you a lot, I agree you should leave. My primary bank account raised chequing account and trans...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is threatening to close the account a good way to negotiate with the bank? ### Answer: Take your business elsewhere, where the products and services are priced at a level you agree to pay. This does ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is threatening to close the account a good way to negotiate with the bank? ### Answer: To avoid going on and on in the comments I'm going to add this point that seems to be missing from the other answ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is threatening to close the account a good way to negotiate with the bank? ### Answer: I would hold off on making that threat (closing your account). First, because as others have said, it's not likel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is threatening to close the account a good way to negotiate with the bank? ### Answer: From the bank's perspective, they are offering a service and within their rights to charge appropriately for that...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to keep control of shared expenses inside marriage? ### Answer: JoeTaxpayer's answer mentions using a third "house" account. In my comment on his answer, I mentioned that you could simply use a bo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to keep control of shared expenses inside marriage? ### Answer: Why not start a third account, the "house" account? However you decide to fund it, equally or in proportion to income, you both chip...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to keep control of shared expenses inside marriage? ### Answer: Being new does not allow me yet to vote on your question, but what a good question it is. We share our opinion in separating finance...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to keep control of shared expenses inside marriage? ### Answer: Websites like neobudget dot com or mint dot com can help you see where your money is going, especially if you use mostly checks, deb...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to keep control of shared expenses inside marriage? ### Answer: I'd say its time to merge finances! ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to keep control of shared expenses inside marriage? ### Answer: Call me old fashioned, but that sounds less like a marriage and more like a business partnership. Maybe there are business tools tha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it usual for a tradesperson not to charge VAT? ### Answer: Assuming this to be in the UK, and I suspect the rules are similar elsewhere, this indeed may be true. There is a threshold beneath which...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What tax year does my income get assigned to if my client sends the payment in December but I receive it in January? ### Answer: Confused? see your CPA ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does being on the board of a bankruptcy-declaring company affect my credit rating? ### Answer: The answer to your question is governed by the structure of the company and your ownership or lack thereo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Prize Money, Taxes and Foreign / International Students ### Answer: The committee folks told us Did they also give you advice on your medication? Maybe if they told you to take this medicine or that y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What factors go into choosing residency? ### Answer: A couple of thoughts. Tax benefits are the usual reasons to decide on one residency or another. International tax law is complex, and it's probably...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Back of Check Images are Blank and not Endorsed ### Answer: In general, a lack of endorsement (meaning nothing written by the receiver on the back of the check) is equivalent to it being endorsed "as ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: UK Limited Company paying third party medical costs ### Answer: According to HMRC's manual BIM42105, you can't deduct expenses of this kind when calculating your profits for corporation tax: No deduct...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: UK Limited Company paying third party medical costs ### Answer: One possibility to consider would be making an arrangement with a registered UK charity where you would donate the necessary amount for ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: State tax issues for NJ resident with DC tax withheld, and likely refunded ### Answer: If you already filed the DC return, you can try and wait with filing the NJ return until you get the answer from ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: U.S. nonresident alien: Is my state tax refund taxable? ### Answer: Federal income tax refunds received during 2016 are not taxable income for 2016 (or any other year) on either the Federal or the Sta...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Roth IRA - Vanguard or Fidelity? If a college student had to pick one? ### Answer: The minimum at Schwab to open an IRA is $1000. Why don't you check the two you listed to see what their minimum openi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Roth IRA - Vanguard or Fidelity? If a college student had to pick one? ### Answer: Well, a couple things to keep in mind: Even if you have enough to meet the minimum initial amount, you need to have a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance, healthcare provider, apparent abuse, lack of transparency ### Answer: Just as with any other service provider - vote with your wallet. Do not go back to that doctor's office, and make sure ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance, healthcare provider, apparent abuse, lack of transparency ### Answer: I wouldn't classify your treatment as abuse. Medical billing has become more complex not less complex. You need to lear...