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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is the I.T. function in banking considered to be on the expense side, as opposed to revenue side? ### Answer: This depends entirely on the kind of "IT" you're doing. A couple of examples to illuminate...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Warren and it's investments [duplicate] ### Answer: If I were in your shoes I would concentrate now on investing in yourself. Your greatest wealth building tool is your income. Going to school is gr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the opposite of a sunk cost? A “sunk gain”? ### Answer: A "sunk cost" is a cost that you have already incurred, and won't get back. The "sunk cost fallacy," as you described, is when you make ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Using stable short-term, tax-free municipal bond funds to beat the bank? ### Answer: If your main goal is to avoid taxes, municipal bonds are a good strategy, it's not the best way to make more than 1...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a shareholder be liable in case of bankruptcy of one of the companies he invested in? ### Answer: I am a tax lawyer and ALL the RESPONSES ABOVE are 1/2 Correct but also 1/2 Wrong and in tax law th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Insurance company sent me huge check instead of pharmacy. Now what? ### Answer: This is not a mistake. This is done for "Out of Network" providers, and mainly when the patient is an Anthem member, be ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Indian citizen working from India as freelancer for U.S.-based company. How to report the income & pay tax in India? ### Answer: There is no reason for you to open a firm. However, it will help you, i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Dual Citizen British/US and online business taxes ### Answer: I see no reason why a US ID would be mandatory anywhere in the UK. I'm sure they have their own tax IDs in the UK. However, if the gallery...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it wise to switch investment strategy frequently? ### Answer: I understand you're trying to ask a narrow question, but you're basically asking whether you should time the market. You can find tons...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: company market capitalization to total (annual) stock market capitalization ### Answer: This depends. Quite a few stock exchanges / country report total capitalisation in terms of free float. I.E tota...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How are Canada Universal Child Care Benefit (UCCB) & related tax measures changing in 2015? ### Answer: The Child Care Expense Deduction (line 214) dollar limits will each increase by $1000, to new am...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If I'm cash-flow negative, should I dollar-cost-average the money from my bonus over the entire year? ### Answer: Essentially, your question is "lump sum vs DCA" and your tags reflect that. In the lon...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When filing taxes in Canada, in what cases does box 39 on the T4 get reported as half of box 38? ### Answer: Apparently box 39 does not receive half of box 38 if "The price of the share or unit is les...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can i short securities in a normal(non-margin) account ### Answer: The broker will charge borrowing fees and sometimes a charge called "hard-to-borrow fee". Other than that you will earn interest on t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pay off car or use money for down payment ### Answer: Absolutely do not pay off the car if you aren't planning to keep it. The amount of equity that you have from a trade in vehicle will always be a ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it a bad idea to buy a motorcycle with a lien on it? ### Answer: In the case of a vehicle with a lien, there is a specific place on the title to have a lien holder listed, and the holder of the lie...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Smart to buy a house in college? ### Answer: NORMALLY, you don't want to buy in a bad neighborhood. The one exception is "gentrification," that is middle class people are moving in because of a good l...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does PMI mean? ### Answer: Yes, PMI is what the lender requires to loan you more than 8O% of the home's value. I could easily present scenarios where it's exactly the right decision to use PMI an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: New York State - NY Tax on Foreign Sourced Income for NY Non-Resident ### Answer: For Non-Resident filers, New York taxes New York-sourced income. That includes: real or tangible personal property loc...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I calculate the actual dividend amount for a monthly dividend payout mutual fund? ### Answer: In the absence of a country designation where the mutual fund is registered, the question cannot be...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are non-residents or foreigners permitted to buy or own shares of UK companies? ### Answer: It's easy to own many of the larger UK stocks. Companies like British Petroleum, Glaxo, and Royal Dutch Shel...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens to people without any retirement savings? ### Answer: I'm afraid you have missed a few of the outcomes commonly faced by millions of Americans, so I would like to take a moment to discuss...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I contribute to an IRA from investment income? ### Answer: Your contributions must come from "compensation". Quoting IRS Publication 590 on IRAs, "Generally, compensation is what you earn from wor...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Finding a good small business CPA? ### Answer: Ask for at least 10 references. Ask for 10 because it will be harder for them to refer you to ringer references like their family or friends. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the equation for an inflation adjusted annuity held in perpetuity? ### Answer: The question lacks specificity, i.e. when does the initial investment occur, now or one period from now? If now ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can a Line of Credit be re-financed? Is it like a mortgage, with a term? ### Answer: You can often convert the outstanding balance of a HELOC into a fixed-rate home equity loan, generally with the sam...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What U.S. banks offer two-factor authentication (such as password & token) for online banking? ### Answer: There are very few banks which offer two-factor authentication. Part of the reason is cost. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Thrift Saving Plan (TSP) Share Price Charts ### Answer: If you're looking to generate your own charts, you can get up-to-date TSP fund share prices in a Google Docs spreadsheet by "scraping" the data ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I register for VAT to claim back VAT without selling VAT applicable goods? (UK) ### Answer: As far as I know any business can register for VAT regardless of the nature of the business. If all the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: To pay off a student loan, should I save up a lump sum payoff payment or pay extra each month? ### Answer: Just one more thing to consider: a friend of mine had some student loan debt left over from g...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I donate short-stock to charity? ### Answer: With a short position you make your money (profit) when you buy the stocks back to close the position at a lower price than what you bought them at. As...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to acquire assets without buying them? ### Answer: Assets can be acquired in different ways and for different purposes. I will only address common legal ways of acquiring assets. You can trade one...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are credit histories/scores international? ### Answer: Credit history is local, so when you move to the US you start with the blank slate. Credit history length is a huge factor, so in the first year ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bank of the Sierra: Are they legit? How can the checking interest APY be so high? ### Answer: The FDIC is pretty confident about them being legit. http://www2.fdic.gov/idasp/main_bankfind.asp (type i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Due Diligence - Dilution? ### Answer: Publicly traded companies perform dilution via an FPO (Follow-up Public Offer). It is a process similar to IPO, with announcements, prospectus, etc. You will know...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: To pay off a student loan, should I save up a lump sum payoff payment or pay extra each month? ### Answer: The interest accrues daily based on the amount you owe. The less you owe the less the daily ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does a high theta mean for an option position? ### Answer: Option prices consist of two parts: the intrinsic value (the difference between the strike and the current price of the stock) and a tim...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does a rescheduled conference call generally mean “something's wrong” with a company? ### Answer: Does the market automatically assume a rescheduled call means something major, like the auditors aren'...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to calculate my real earnings from hourly temp-to-hire moving to salaried employee? ### Answer: If you are a temp-to-hire, or you are asked to setup a company then you are not an employee. They ex...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What risks are there acting as a broker between PayPal and electronic bank transfers? ### Answer: The sting here is definitely in the tail, the PS that says We are starting to call you from the same d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any US bank that does not charge for incoming wire transfers? ### Answer: Yes, a business account at Chase bank offers free incoming wire transfer fees when you keep a minimum balance of over...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would someone want to sell call options? ### Answer: You appear to be thinking of option writers as if they were individuals with small, nondiversified, holdings and a particular view on what the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why would you ever turn down a raise in salary? ### Answer: This would never apply for tax "brackets". It's not as though making an extra dollar will put you into an entire separate bracket, the IRS i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to invest in a currency increasing in value relative to another? ### Answer: Forex trading contracts are generally fairly short dated as you mention. Months to weeks. Professional forex traders ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should you always max out contributions to your 401k? ### Answer: A terrific resource is this article. To summarize the points given: PROS: CONS: There is no generic yes or no answer as to whether you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it possible to dispute a wash sale? ### Answer: The IRS has been particularly vague about the "substantially identical" investment part of the wash rule. Many brokers, Schwab for instance, say tha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What assets would be valuable in a post-apocalyptic scenario? ### Answer: Assuming that the financial system broke down, not enough supply of essential commodities or food but there is political and a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Investing in stocks with gross income (not yet taxed) cash from contract work? ### Answer: You should get a 1099-MISC for the $5000 you got. And your broker should send you a 1099-B for the $5500 sal...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is freelance income earned by a U.S. citizen while living abroad subject to state income tax? ### Answer: New York will want to you to pay taxes on income from "New York sources". I'm not sure what th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Emulating a 'long straddle' without buying or selling Options? ### Answer: A long straddle using equity would be more akin to buying a triple leveraged ETF and an inverse triple leveraged ETF, only be...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens when a calendar spread is assigned in a non-margin account? ### Answer: I can't speak for all brokerages but the one I use requires cash accounts to have cash available to purchase the st...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are there any Social Responsibility Index funds or ETFs? ### Answer: Index funds: Some of the funds listed by US SIF are index funds. ETFs: ETFdb has a list, though it's pretty short at the moment. ##...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Filing taxes on stocks ### Answer: Generally stock trades will require an additional Capital Gains and Losses form included with a 1040, known as Schedule D (summary) and Schedule D-1 (itemized). Tha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I help my friend change his saving habits? ### Answer: If he's not used to cooking, recipes might not be enough. Maybe he needs cooking lessons. I used to think if you could read, you could co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any emprical research done on 'adding to a loser' ### Answer: It works if after the price has halved and you buy more the price then rises, however if you are attempting to do this you are ba...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do stores and manufacturers use mail in rebates? A scam, or is there a way to use them effectively? ### Answer: Rebates are a great way to give discounts to customers who are cost sensitive. A lon...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why is a “long put” called long if you have a higher net position if the price decreases? ### Answer: You need to interpret "security" appropriately in Wikipedia's definition. You should think of it ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What IT form to use in India? ### Answer: As you have income from Business / Profession, you would need to use form ITR4S ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the best software tools for personal finance? ### Answer: I use iBank for Mac to keep track of my expenses. I also use the iPhone version since they can sync over Wi-Fi and I can capture expe...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Starting with Stocks or Forex? ### Answer: Stick with stocks, if you are not well versed in forex you will get fleeced or in over your head quickly. The leverage can be too much for the uninitiated. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Early Retirement Options (UK) ### Answer: It's highly unlikely that you will be able to achieve 8% and would consider myself lucky to get 4% in the current interest rate environment. You might want t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I take a personal loan for my postgraduate studies? ### Answer: I would delay purchase of a condo or apartment until you have at a minimum, 6 months of living expenses including mortgage set as...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can't the account information on my checks be easily used for fraud? ### Answer: Yes, and there are almost no checks (no pun intended) on people pulling money from your account using a routing number....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Get interest on $100K by spending only $2K using FOREX rollovers? ### Answer: I'm smart enough to know that the answer to your questions is 'no'. There is no arbitrage scenario where you can trade cu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: College student - I'm a 'dependent' and my parents won't apply for the Parent PLUS loan or cosign a private loan ### Answer: I was in a similar (but not quite as bad situation) a couple years ago, and...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are car buying services worth it? ### Answer: The buying service your credit union uses is similar to the one my credit union uses. I have used their service several times. There is no direct cost to ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Pensions, annuities, and “retirement” ### Answer: An annuity is a product. In simple terms, you hand over a lump sum of cash and receive an agreed annual income until you die. The underlying investmen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is it wise to have plenty of current accounts in different banks? ### Answer: You should not open bank accounts just to get additional credit cards. You should be careful about carrying too many credi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I withdraw money from my LLC? ### Answer: What you're asking about is called a "distribution" when it comes to an LLC. It's basically you paying yourself some or all of the proceeds of the bu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is the difference between “good debt” vs. “bad debt”? ### Answer: All very good answers for the most part, but I have a definition for Good and Bad debt which is a little bit different from those...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can someone help me understand my student loans? ### Answer: If you want to pay them off as quickly as possible, pay the minimum payment on the larger two and dump as much as you can into the one with...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I pick the right company for investing services? ### Answer: Traditional brokers There are tons of players in this market, especially in USA. You have traditional brokers, brokers tied to your ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If stock price drops by the amount of dividend paid, what is the use of a dividend ### Answer: Their is no arbitrage opportunity with "buying dividends." You're buying a taxable event. This is a large...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do gas stations charge different amounts in the same local area? ### Answer: There are many factors. Most gas stations price their gas based on what it will cost them to replace it. So when the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What special considerations need to be made for a US citizen who wishes to purchase a house in Canada? ### Answer: About deducting mortgage interest: No, you can not deduct it unless it is qualified m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When to register for a bank account for a C-Corp with no official money ### Answer: Technically, it's only when you need to pass money through. However consider that the length the account has been op...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are Forex traders forced to use leverage? ### Answer: It isn't that the companies force traders, it is more the other way around. Traders wouldn't trade without margin. The main reason is liquidity an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Large orders and market manipulation ### Answer: If you own a stake large enough to do that, you became regulated - under Section 13(d) of the 1934 Act and Regulation (in case of US stock) and you bec...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What does it mean for a company to have its market cap larger than the market size? ### Answer: The difference between the two numbers is that the market size of a particular product is expressed as a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any way to buy a new car directly from Toyota without going through a dealership? ### Answer: You can buy a new Toyota from a non-dealer, but not from Toyota directly as they have no retail d...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: 60% Downpayment on house? ### Answer: Voluntarily assuming a loan is a bad idea, especially for a non-investment purpose. It would be one thing to take on a loan to operate a business or buy a piece o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How did I end up with a fraction of a share? ### Answer: It's not that uncommon but it doesn't usually come from standard purchases. Investopedia explains: Definition of 'Fractional Share' A share of...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Valuation, pricing, and analysis of securities ### Answer: I would differentiate between pricing and valuation a bit more: Valuation is the result of investment analysis and the result of coming up w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Given a certain yearly savings, how much can I spend on a capital improvement? NPV of future cash flow ### Answer: The question states :- Our insurance company is offering a 30% discount on an $8200/y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to incentivize a real-estate broker to find me a cheap house ### Answer: From your profile, I see you are in Israel. The process is probably different from in the US. In the US, an agent is usual...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do currency markets work? What factors are behind why currencies go up or down? ### Answer: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do currency markets work? ### Answer: The FX (foreign exchange) market works very much like the stock market where potential buying parties bid $Y of country 1's currency to buy $1 in country 2's ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What factors are behind why currencies go up or down? ### Answer: Just like any open market, currencies go up and down based on supply and demand. Many factors affect the supply and demand of a parti...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What roles do governments, central banks, institutions, and traders have in the process? ### Answer: It's common practice that gov'ts intervene to "control" the value of currencies. For example, alth...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Bid price… sudden Drop ### Answer: An option gives you the option rather than the obligation to buy (or sell) the underlying so you don't have to exercise you can just let the option expire (so long i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What can we learn from when the trading volume is much higher/lower than average? ### Answer: You should not look at volume in isolation but look at it together with other indicators and/or the releas...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there an online cost-basis calculator that automatically accounts for dividend re-investments and splits? ### Answer: Calculating and adjusting cost basis accurately is a daunting task, but there i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Importance of dividend yield when evaluating a stock? ### Answer: Dividends yield and yield history are often neglected, but are very important factors that you should consider when looking at a stock...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Ask for credit decrease ### Answer: $500 should not have a massive impact on your credit. Why not at the beginning of each month buy a $500 prepaid Visa instead of using your credit card? That way you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What is inflation? ### Answer: I've seen a lot of long and complicated answers here so here is my simple and short answer: Let's say the economy consists of: 10 apples and 10$. Then an apple costs 1$....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which credit card is friendliest to merchants? ### Answer: Cash is king. PIN-based debit transactions are cheap. In terms of credit cards, a regular (ie. not a gold card) with no rewards has the lowes...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do you avoid tax when taking a home equity loan? ### Answer: You'll be taxed when you sell the house, but not before that (or if you do some other transaction that realizes the gain, talk to your real...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to send money from europe to usa EUR - USD? ### Answer: The website http://currencyfair.com/ provides a service which gives you both a decent exchange rate (about 1% off from mid-market rate) and ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Debt collector has wrong person and is contacting my employer ### Answer: Use with moderation. Powerful stuff. Your caller could be an offshore scammer too. Summarizing from http://www.creditinfocente...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: what's the difference between money raised in an ipo and its valuation? ### Answer: A company generally sells a portion of its ownership in an IPO, with existing investors retaining some ownership. ...