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Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do I use investments to lower my taxes [US]? ### Answer: Consider the individual who pays $1,000,000 in taxes. His/her income must be substantial. That is what one should aim for. Investments f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gap in domestic Health Insurance coverage, expect higher premiums? ### Answer: The insurance company is must assume you do have a preexisting condition you are unaware of. The reason for that is that...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Gap in domestic Health Insurance coverage, expect higher premiums? ### Answer: I bought Health Insurance for myself after a period without it, and my premiums were not terrible. I was a 27 year old ma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: When is it necessary to apply taxes for web freelancing services in Quebec, Canada? ### Answer: AFAIK, there are two kinds of taxes your web freelancing income may be subject to in Quebec: On the inco...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What are the basics of apartment rental finances? ### Answer: Well for starters you want to rent it for more than the apartment costs you. Aside from mortgage you have insurance, and maintenance cost...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do bank statements end on *SUCH* wildly inconsistent days of the month? ### Answer: Looking at your dates, I think I see a pattern. It appears that your statement closing date is always 17 busine...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do bank statements end on *SUCH* wildly inconsistent days of the month? ### Answer: They need to spread the work for all customers over the whole month, and they don't work on weekends. Combine th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online tutorials for calculating DCF (Discounted Cash Flow)? ### Answer: Here's a link to an online calculator employing the Discounted Cash Flow method: Discounted Cash Flows Calculator. Descriptio...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online tutorials for calculating DCF (Discounted Cash Flow)? ### Answer: Check out Professor Damodaran's website: http://pages.stern.nyu.edu/~adamodar/ . Tons of good stuff there to get you started. I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online tutorials for calculating DCF (Discounted Cash Flow)? ### Answer: what do you mean exactly? Do you have a future target price and projected future dividend payments and you want the present va...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Taking out a loan to pay down a mortgage ### Answer: You're not crazy, but the banks are. Here's the problem: You're taking 100% LTV on property A - you won't be able to get a second mortgage for more...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Taking out a loan to pay down a mortgage ### Answer: You have the 2 properties, and even though the value of property B is less than the amount you owe on it hopefully you have some equity in propery ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If accepting more than $10K in cash for a used boat, should I worry about counterfeiting? ### Answer: When you operate outside of the law, you bear the risks of that decision. When you operate within...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If accepting more than $10K in cash for a used boat, should I worry about counterfeiting? ### Answer: If you get counterfeit money, then you're dealing with the criminal who is going to be punished by...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If accepting more than $10K in cash for a used boat, should I worry about counterfeiting? ### Answer: I'd not do business under these terms. A bill of sale needs a signature, right? Your signature is ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If accepting more than $10K in cash for a used boat, should I worry about counterfeiting? ### Answer: I'd worry more about falsifying documents of sale. No good reason at all to do that. Detecting co...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If accepting more than $10K in cash for a used boat, should I worry about counterfeiting? ### Answer: I'd be a bit concerned about someone who wanted to transact that large of a transaction in cash. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If accepting more than $10K in cash for a used boat, should I worry about counterfeiting? ### Answer: Paying tax is a Good Thing. However, warren has made good point and I would like you to consider t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If accepting more than $10K in cash for a used boat, should I worry about counterfeiting? ### Answer: The only issue I can see is that the stranger is looking to undervalue their purchase to save mone...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If accepting more than $10K in cash for a used boat, should I worry about counterfeiting? ### Answer: I would not do a bill of sale for less, but a legal and safe way to reduce the taxes is to write s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to pick a state to form an LLC in? ### Answer: There are very few circumstances where forming an out of state entity is beneficial, but a website is within these circumstances in certain instances...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to pick a state to form an LLC in? ### Answer: Generally, you pick the State which you're located at, because you'll have to register your LLC there in any case. In your case that would be either ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a bank has a transfer limit, what happens if another bank pushes/pulls more than that? ### Answer: If bank B has a transfer limit set, you bet that there is a nice reason for that. Either risk of f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: If a bank has a transfer limit, what happens if another bank pushes/pulls more than that? ### Answer: Or at least I saw it do so with Bank of America. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay a company who failed to collect VAT from me over 6 months ago? ### Answer: It looks like businesses selling services (like software downloads) from outside the EU to the UK have to regist...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I pay a company who failed to collect VAT from me over 6 months ago? ### Answer: Note: I am not a lawyer. This is my personal opinion and interpretation. First, your source is European Law, whi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does GST on PayPal payments work for Australian Taxation? ### Answer: TL;DR - my understanding of the rules is that if you are required to register for GST (earning more than $75k per annum), you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does GST on PayPal payments work for Australian Taxation? ### Answer: Regardless of wether or not you are registered for GST, you are legally required to include a GST total on every invoice sent ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Freelancer in India working for Swiss Company ### Answer: As you are earning an income by working in India, you are required to pay tax in India. If you contract is of freelance, then the income earne...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Freelancer in India working for Swiss Company ### Answer: I am a freelancer based in Europe and I want to tell you: - if you are a freelancer, then you INVOICE your Swizzerland based client The word s...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Freelancer in India working for Swiss Company ### Answer: I have some more inputs to investigate: India has dual tax avoidance treaty signed with european countries so that NRIs dont pay tax in both c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What would be the appropriate account for written off loans to friends and family? ### Answer: A simple way to account debt forgiveness of your receivables is to utilize a "Bad Debt" expense account. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Clarification on student expenses - To file the tax for the next year ### Answer: Assuming here that you're talking about deducting your tuition as a below the line deduction as a business expense or ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a house with a friend? ### Answer: No. This amount of money is not appropriate for friends to go in on. Although you could consider buying a house with a business partner, have the contr...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a house with a friend? ### Answer: Unlike others who have answered the question - I have done this. Here is my experience - your mileage and friendship may vary: I bought a condo years a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a house with a friend? ### Answer: I'll chime in here with the "don't do it crowd." I think it's fraught with ugly possibilities. However, you may, for various reasons, decide to say, "to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a house with a friend? ### Answer: I did this about 8 years ago with a buddy in Chicago for the reasons specified in the original post. As other posters have suggested, we discussed a l...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a house with a friend? ### Answer: A real life experience. A friend of mine did that with his housemates. They bought a house together as students and it worked for them. The tricky bit i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a house with a friend? ### Answer: I'd be curious to compare current rent with what your overhead would be with a house. Most single people would view your current arrangement as ideal. W...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a house with a friend? ### Answer: Sure, form an LLC with an attorney's advice. You need a buyout clause, operating agreement, etc. If you're not married, never buy a home for personal us...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Should I buy a house with a friend? ### Answer: There are lots of good reasons not to do this. HOWEVER if you do decide to, there are four things you need to consider: ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online transaction - Money taken out late ### Answer: Debit Cards have a certain processing delay, "lag time", before the transaction from the vendor completes with your bank. In the US it's typically...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Online transaction - Money taken out late ### Answer: When processing credit/debit cards there is a choice made by the company on how they want to go about doing it. The options are Authorization/Cap...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does a growing economy mean the economy is becoming less efficient? ### Answer: It's a kook movie made by folks who combine conspiracy quackery with repackaged socialism. If you're into socialist theo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does a growing economy mean the economy is becoming less efficient? ### Answer: Growth and efficiency can occur independently of each other. For instance, if an economy consists of one inefficient bu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does a growing economy mean the economy is becoming less efficient? ### Answer: A growing economy should become more efficient because of increased opportunity for division of labor: specialization. E...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How does a Non US citizen gain SEC Accredited Investor Status? ### Answer: Here are the SEC requirements: The federal securities laws define the term accredited investor in Rule 501 of Regulation D ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: I paid a contractor to make roof repairs to a house in my LLC. How can I deduct this cost? ### Answer: This new roof should go on the 2016 LLC business return, but you probably won't be able to expens...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: Others have tip-toed around this, but I'll just come out and say it. The amount of money you're giving to the church is bordering on i...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: If you want to have your wife stay home with kids, you'll have to make a plan to get there. As you point out, your situation right now ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: How do people do it? Firstly, I'd advise you to explicitly budget all taxes. The reason is because taxes get complicated when you have ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: As this is anonymous, can you give us actual numbers? I can make guesses based on your percentages, but it would help. Lets assume you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: With your wife's income, you're not doing to see a net difference if she stops working that job. You may actually yield a little more. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: If commuting is a big budget item, then can you: A side job is one way to make extra money, but I'd suggest a home business. If your w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: What makes it hard is that you're making this decision now, when you've already made decisions over the years going in a different rout...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: I see three areas of concern for your budget: This is way high. I am not sure how much of a house you live in, but the total of these ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Switch from DINK to SIWK: How do people afford kids? ### Answer: It is simple: G-d provides :). EDIT: By "it" I mean the answer to the question asked. Raising kids is not so simple; G-d does provide :...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: UK sole trader who often buys products/services on behalf of clients – do I deduct from declared income or claim as allowable expenses? ### Answer: Assuming you buy the services and products beforehan...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to distinguish gift from payment for the service? ### Answer: All of this assumes that this relationship isn't as employer-employee relationship, which would require you to withhold taxes. If you ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to distinguish gift from payment for the service? ### Answer: Generally, a one time thing is considered a gift. For the donor this is obviously not a deductible expense, except for some specific c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to distinguish gift from payment for the service? ### Answer: Most people will never need to pay federal gift taxes. The federal gift taxes start after giving away 5.34 million over the course of ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Obtaining Pound Sterling Cheque in US to pay for family history records from England? ### Answer: Most US banks don't allow you the ability to draft a foreign currency check from USD. Though, I know C...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Shares in Chinese startup company ### Answer: Setting up an entity that is partially foreign owned is not that difficult. It takes an additional 1-1.5 months in total, and in this particular case, you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: Yes, it is safe, we have been doing it for years. We prefer our tenants to make their rent payments in this manner. In fact, we prefer that they set up an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: I'd consider this offer. Keep in mind, any time you write a check, there's the information he's asking for. If it makes you feel comfortable, use the sma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: It's safe. You give people those numbers every time you write a check. If a check is forged, and doesn't have your signature on it, the bank has to retur...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: What you've described is the norm in Australia, where it's rare for anyone under sixty to use cheques. Assuming they're transferring the funds using inter...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: How can someone use the account number to withdraw money without my consent? They can use your account number to game your banks phone support and try t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: It isn't EFT, but you might mention to your tenant, that many banks offer a Bill Pay service (example) where the bank will automatically mail a check to t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: I am able to set this up for my tenants by providing them with a form to fill out so that they provide their name and bank account information, and then I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: The biggest disadvantage to you is that your tenant now knows your bank information, which means he can easily identify your source of money in the event ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: Other options would be to use paypal, your tenant would only need your e-mail address. Most banks have a similar system to do a person-to-person transfers...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: Similar to @SoulsOpenSource's answer, I would suggest Venmo, which works like PayPal but is free for debit-card-to-debit-card transactions. More informati...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: The mode of payment mentioned by your bank is called the ACH(Automatic Clearing House) which means that anyone(Trusted payment gateway owners like banks t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: You can consider opening accounts either in Paypal or Google Wallet. In this way, you link your bank information to these accounts and the only informatio...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: I live in Kenya, and also here we have corruption. However, we use EFT, RTGS, Mobile Money and its more safe than cheques. Beware, that paper based paymen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: In Britain it's standard practice to use an electronic bank transfer, otherwise known as a "standing order" for the monthly rent payment. Many letting age...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: You could setup a Ally account to use solely for this. There is no minimum, no opening balance requirement, and you can do up to 6 transfers a month for f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: Given a routing number / account number, it's easy to print a check with those details. All you need is a MICR font. No EFT needed. I would recommend th...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Tenant wants to pay rent with EFT ### Answer: Alternative solution with possibly better results: Use a 3rd party to transfer money between both of you. 2 Services you may want to look at: Rent share m...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Learning investment--books to read? Fundamental/Value/Motley Fool ### Answer: You are smart to read books to better inform yourself of the investment process. I recommend reading some of the passive ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Creating a personal company ### Answer: You're confusing so many things at once here...... First thing first: we cannot suggest you what to do business-wise since we have no idea about your business....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Which colors can one use to fill out a check in the US? ### Answer: Keep in mind that many checks are being cashed via scanner or photo. These can be home based, business based or ATM based systems. T...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Question about dividends and giant companies [duplicate] ### Answer: Dividends are a way of distributing profits from operating a business to the business owners. Why would you call it "wasting money"...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Question about dividends and giant companies [duplicate] ### Answer: I see a false assumption that you are making. (Almost always) When you buy stock the cash you spend does not go to the company. In...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are Chase credit cards commonly accepted for purchases? ### Answer: If you read the fine print in the Pricing & Terms section of that card, you'll see: By becoming a Visa Business Card cardmember, you...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happened when the dot com bubble burst? ### Answer: From the perspective of an investor and someone in high-tech during that period, here is my take: A few high tech companies had made it big (A...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happened when the dot com bubble burst? ### Answer: It's tough to share exactly what happened. Go to yahoo and look at the chart for Cisco from 1990 to 2003 or so. From a split adjusted 8 cents a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happened when the dot com bubble burst? ### Answer: The dot.com companies were purveyors of the Internet, then a "new" technology around 2000. Everyone "knows" that such a new technology will cha...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happened when the dot com bubble burst? ### Answer: What happened was that people would start an "Internet" company without any viable business plan, and investors would pour money. Any company w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happened when the dot com bubble burst? ### Answer: To add to the already existing answers, most of the dotcom companies used an accounting sheningan so profusely that everything looked rosy. To ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happened when the dot com bubble burst? ### Answer: Two big things: In many ways, the early internet people were correct -- in 2011 we are much more productive as a society than we were in 1991. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happened when the dot com bubble burst? ### Answer: Well basically a lot of dot-com companies that had no real plans for having actual profit's, self-destructed. I had worked for a company called...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I find a lost 401K from a past employer? ### Answer: The Employee Benefits Security Administration within the US Department of Labor is tasked with keeping track of pension and 401K programs. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any circumstance in which it is necessary to mark extra payments on a loan as going to “principal and not interest”? ### Answer: It could be a couple of things besides extra principal: I seem...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any circumstance in which it is necessary to mark extra payments on a loan as going to “principal and not interest”? ### Answer: The mortgage I got last year through Wells Fargo explicitly in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any circumstance in which it is necessary to mark extra payments on a loan as going to “principal and not interest”? ### Answer: I had a car loan through GMAC and extra money was applied to f...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is there any circumstance in which it is necessary to mark extra payments on a loan as going to “principal and not interest”? ### Answer: I would always presume that given a choice of doing what is in...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can small children contribute to the “family economy”? ### Answer: Another suggestion I heard on the radio was to give the child the difference between the name brand they want, and the store bran...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can small children contribute to the “family economy”? ### Answer: Similar to the lawn care you mentioned: if you have space, you could have the kids create a mini-farmstand. They could grow flowe...