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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: @MrChrister - Savings is a great idea. Coudl also give them 1/2 the difference, rather than the whole difference, as then you bot...
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: There is also babysitting, dog walking and house sitting. Depending on their age of course. You should also investigate what is ...
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: If you're trying to teach them the value of money and quantifying the dollar difference between prices, one very effective way to...
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: (Although I disagree with the idea of getting a child working a real job to early, (I think kids should learn at school, learn ma...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Optimal pricing of close to zero marginal cost content ### Answer: With near zero marginal cost, and infinite supply, your prices are going to be decided by entry cost, competition, and what the marke...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Optimal pricing of close to zero marginal cost content ### Answer: It seems this will be very much driven by price discrimination. If there are some customers who will pay up to $100, sell at that; a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Optimal pricing of close to zero marginal cost content ### Answer: Software or any online service fits this category I suppose. There are two apps I pay for that are "free." Evernote and Pandora. Ev...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I borrow money for investing? ### Answer: Borrowing to invest is almost always a bad idea. You'd have to take out an unsecured loan, which has a higher interest rate, or a secured loan and ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I borrow money for investing? ### Answer: The question should read: "Borrow huge money for speculating". This is a bad idea on many levels. The lowest rates available will be from time-limit...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I borrow money for investing? ### Answer: If you are looking for money to speculate in the capital markets, then your brokers will already lend to you at a MUCH more favorable rate than an o...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I borrow money for investing? ### Answer: Borrow money and start a business. Follow your business plan and invest in yourself and your entrepreneurship. If you mean invest in the market, do...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Where can I borrow money for investing? ### Answer: Have you considered social lending (for example: Lending Club)? ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why can't 401(k) statements be delivered electronically? ### Answer: There are a lot of unintended consequences of fairly arbitrary IRS guidelines when it comes to 401Ks, they both close and create to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why can't 401(k) statements be delivered electronically? ### Answer: Glad my question got bumped. I took it as a sign to get a solid answer out of Schwab. First the rep gave me the same line that it w...
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: I don't know of a situation where rejecting a raise would make sense. Often, one can be in a phaseout of some benefit, so that even though y...
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: I probably wouldn't turn down a raise, but there are some circumstances in which you might hesitate. Having a disproportionately high salary...
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: My answer has nothing to do with tax brackets or mathematics (I'm taking advantage of the leeway your question allowed), but rather it has t...
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: If you have children in a university institution, then your annual salary is reported via financial aid forms. The small raise could be 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: I had a colleague turn down a raise once because he believed that female colleagues were already being paid well below his salary and it was...
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: I would turn down a 20% raise in salary without thinking, if they would offer that I can have a 4 day work week. I even take a 10% cut for t...
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: Here in Germany there is a special case. I am studying (and working a little on the side) and still receiving child benefits from the state ...
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: I once turned down a raise because I didn't agree with the employee review that supposedly substantiated the raise. I felt the review to be...
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: In the UK, recent changes to pension taxation mean that from April 2011, people earning between £150,000 and £180,000 total and making large...
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: In the UK, the government has recently announced that Child Benefit will no longer be paid to those who earn over £44k. This means that if y...
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: The only valid reason from a financial point of view is if the raise is a promotion or comes with conditions that are unacceptable to you. Y...
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: At least with US tax law where you only pay taxes at the higher rate for the income above the minimum for that tax bracket, you will always ...
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: I recently was offered $1/hr raise. I turned it down because 1.)I had been looking for other jobs and the extra $150 per month wasn't enough...
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: Sometimes it's not entirely about take-home pay. A pay raise can affect other things like: These things need to be considered since they al...
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: There is currently a bill in Washington that will change the limit for salaried employees receiving overtime pay. It will be raised to $5040...
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: There are some student loan repayment programs and the like where, if a raise would bump you past a certain threshold, you become ineligible...
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: Why would you ever turn down a raise in salary? ### Answer: One "economic reason" to turn down a raise is if your company gives bonuses based on performance reviews. When you get a raise in salary, yo...
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: In Australia there are cases for the argument. 1) We have laws against unfair dismissal that do not apply above certain thresholds. Your pos...
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: It would make sense to refuse a raise when it pushes your effective marginal 'tax' (including reduced benefits) above 100%. The working poo...
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: Jurisdictions will vary but I can imagine calculation methods for child support where the raise could become significant in the present with...
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: I recently rejected an offer at a different firm that would have provided a 14k yearly increase. The reason for the rejection was because I ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Employer-Paid relocation as taxable income? ### Answer: If all of the relocation expenses are paid by your employer to the moving companies, then you should not have any tax liability for those paymen...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is interest on a personal loan tax deductible? ### Answer: When you pay interest on a loan used to fund a legitimate investment or business activity, that interest becomes an expense that you can dedu...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is interest on a personal loan tax deductible? ### Answer: Can you deduct interest paid to your father on your personal income taxes? Interest paid on passive investments can be deducted from the amou...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Is interest on a personal loan tax deductible? ### Answer: Assuming USA: It is possible to make the interest deductible if you go to the trouble of structuring, and filing, the loan as an actual mortg...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I work out how much a side-job contracting will be taxed for? ### Answer: I would say you can file your taxes on your own, but you will probably want the advice of an accountant if you need an...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How can I work out how much a side-job contracting will be taxed for? ### Answer: Being self-employed, your "profit" is calculated as all the bills you send out, minus all business-related cost that y...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are American Express cards are not as popular as Visa or MasterCard? ### Answer: Those extra treat points have to come from somewhere, and they come from American Express charging merchants a high...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are American Express cards are not as popular as Visa or MasterCard? ### Answer: American Express was originally a mail business that moved into money-orders. Traditionally their cards have been c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are American Express cards are not as popular as Visa or MasterCard? ### Answer: I have a merchant account and accept Visa, Mastercard, and Discover but not AMEX. I don't take AMEX because they wa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why are American Express cards are not as popular as Visa or MasterCard? ### Answer: My experience is in the United States only. In the past, American Express marketed its products as more exclusive a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How do LLC losses affect personal income taxes in the US? ### Answer: The short answer is yes, losses get passed through to members. Limits/percentages do apply, primarily based on your share in the b...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does Tennessee have anything like a principal residence exemption? ### Answer: There's no homestead property tax exemption in TN. According to the TN comptroller site: Exemptions Exemptions are availa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here? ### Answer: The rent payment is in principle taxable. However, you sho...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here? ### Answer: With regard to worries about ownership: I'll point you to...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here? ### Answer: Disclaimer: I am a law student, not a lawyer, and don't cl...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here? ### Answer: Edit #2 My whole answer was based on my misunderstanding t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here? ### Answer: If you are living together 'casually' (no formal partnersh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Currently sole owner of a property. My girlfriend is looking to move in with me and is offering to pay 'rent'. Am I at risk here? ### Answer: I have been renting rooms out of my house for over 7 years...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do car rental companies prefer/require credit over debit cards? ### Answer: A hotel can accept the debit card because each night they can withdraw the money. If you don't have sufficient funds the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do car rental companies prefer/require credit over debit cards? ### Answer: Deposit on a Debit Card have a different effect, and many people don't understand it (and make a big stink), or cannot a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do car rental companies prefer/require credit over debit cards? ### Answer: People with credit cards tend to have better credit than those who only have debit cards. People with better credit tend...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do car rental companies prefer/require credit over debit cards? ### Answer: I am not sure if this is the actual reason or not, but all of the major credit cards (Visa, Mastercard, Amex, Discover) ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do car rental companies prefer/require credit over debit cards? ### Answer: A few reasons make sense: They have a defined process for rentals, risk assessment, and customer credit. Especially for ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Why do car rental companies prefer/require credit over debit cards? ### Answer: I have looked at the conditions of a car rental company, and I believe it provides the answers: Upon pick up of your veh...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Square reported my credit card transactions as personal income? ### Answer: Square is a company. They need to detail as part of their corporate taxes all of their expenses. The money they collected fo...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do credit ratings (by Moody's, S&P, and Fitch) have any relevance? ### Answer: They've pretty much shot any credibility they possessed. Follow the money. ###end
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do credit ratings (by Moody's, S&P, and Fitch) have any relevance? ### Answer: The problems with ratings and the interpretation of ratings is that they are retrospective, and most people read them as ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Do credit ratings (by Moody's, S&P, and Fitch) have any relevance? ### Answer: I like Muro questions! No, I don't think they do. Because for me, as a personal finance investor type just trying to sav...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: As an independent contractor, should I always charge the client the GST/HST? ### Answer: Hourly rate is not the determinant. You could be selling widgets, not hours. Rather, there's a $30,000 annual ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Form 1040 - where to place my stipend? ### Answer: If you're correct that it's not taxable because it's non-taxable reimbursement (which is supported by your W-2), then it should not go on your 1040 a...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Form 1040 - where to place my stipend? ### Answer: Some of the 45,000 might be taxable. The question is how was the stipend determined. Was it based on the days away? The mile driven? The cities you w...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In-laws moving in (financial/tax implications)? ### Answer: GET A LAWYER. Doing business with relatives is business first, and some effort spent in setting things up and nailing down exactly what the ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: In-laws moving in (financial/tax implications)? ### Answer: You are "pool[ing] the sales from both houses as downpayment on the new house." But they are going to pay you rent. Your question as it sta...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Sales Tax: Rounded Then Totaled or Totaled Then Rounded? ### Answer: Tax is often calculated per item. Especially in the days of the internet, some items are taxable and some aren't, depending on the...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Sales Tax: Rounded Then Totaled or Totaled Then Rounded? ### Answer: First of all to answer the basic question "Is one method correct? Might it depend on local laws?" Yes it does depend on local laws....
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Sales Tax: Rounded Then Totaled or Totaled Then Rounded? ### Answer: You should total the items first, to get $3.00, then add the tax, then round up/down accordingly. Your two examples above don't of...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Sales Tax: Rounded Then Totaled or Totaled Then Rounded? ### Answer: Taxes should not be calculated at the item level. Taxes should be aggregated by tax group at the summary level. The right way every...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Might I need a credit score to rent, or for any other non-borrowing finances? ### Answer: Credit scores are not such a big deal in Canada as they are in the US and even some European countries. One r...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Might I need a credit score to rent, or for any other non-borrowing finances? ### Answer: Alas, institutions do not always act rationally, and being an outlier by never having debt may be bad enough. ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Might I need a credit score to rent, or for any other non-borrowing finances? ### Answer: Typically one wants to see a credit score, just because you may have money in the bank and decent income does ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: How to properly report income without 1099-MISC ### Answer: You are right that even if you do not receive a 1099-MISC, you still need to report all income to the IRS. Report the $40 on Schedule C or ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I deduct work equipment I am not required to purchase by my employer? ### Answer: No, you cannot. You can only deduct expenses that the employer required from you, are used solely for the employer...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Can I deduct work equipment I am not required to purchase by my employer? ### Answer: Old question, but in the comments of the accepted answer, I believe Nate Eldredge is correct and littleadv is inco...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are cashiers required to check a credit card for a signature in the U.S.? ### Answer: The signature actually harks back to the days before every business checked every transaction online. When charge ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are cashiers required to check a credit card for a signature in the U.S.? ### Answer: I'm not sure if they're required to do so, but I have been neglecting to sign my cards for some time now. If they...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are cashiers required to check a credit card for a signature in the U.S.? ### Answer: Per their merchant agreements, Visa and MasterCard say that the signature on the back of the card is the proper wa...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are cashiers required to check a credit card for a signature in the U.S.? ### Answer: It depends on the business. Some ask for ID and check against the signature (rare); some ask for ID but barely gla...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are cashiers required to check a credit card for a signature in the U.S.? ### Answer: Working retail myself, I do not accept an unsigned card without verification. If I received one I would ask for I...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are cashiers required to check a credit card for a signature in the U.S.? ### Answer: So my wife was at work today and got yelled at by both a cop and her managers for simply LOOKING at the card. I do...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Are cashiers required to check a credit card for a signature in the U.S.? ### Answer: Who cares? If your card gets stolen, most cards provide you with 100% liability protection. Just sign the thing! #...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS reprieve those who have to commute for work? ### Answer: When I have a question about my income taxes, the first place I look is generally the Giant Book of Income Tax Information, Public...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS reprieve those who have to commute for work? ### Answer: No. Regular W2 employees cannot deduct housing or transportation costs related to their employment. However, in the US, many em...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS reprieve those who have to commute for work? ### Answer: You cannot deduct expenses directly. However, your employer may participate in programs to allow you to make a pretax deduction c...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS reprieve those who have to commute for work? ### Answer: You cannot deduct commute expenses. Regarding your specific example, something to consider is that if the standard of living is hi...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Does the IRS reprieve those who have to commute for work? ### Answer: Short answer, yes. But this is not done through the deductions on Schedule A. This can happen if the employer creates a Flexible S...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the purpose of having separate checking and savings accounts? ### Answer: For some people, it's easier to stick to a budget if they have separate checking and savings accounts because they can ...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the purpose of having separate checking and savings accounts? ### Answer: A checking account is instant access. It can be tapped via check or debit card. A savings account is supposed to be us...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the purpose of having separate checking and savings accounts? ### Answer: If your debit card/ATM card is stolen or lost, someone else might be able to withdraw money from the checking account t...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What's the purpose of having separate checking and savings accounts? ### Answer: Additionally, it used to be the case that savings accounts would have a noticeably higher interest than checking accoun...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens to your ability to borrow money based on our joint finances? ### Answer: Several factors are considered in loans as significant as a home mortgage. I believe the most major factors are 1...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens to your ability to borrow money based on our joint finances? ### Answer: The bank will consider total of both parties income for the loan qualification. Provided both parties will be list...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: What happens to your ability to borrow money based on our joint finances? ### Answer: It might be worth talking to a mortgage broker, even if you don't actually end up doing business with them. Upfron...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Working out if I should be registered as self-employed in the UK ### Answer: As 'anonymous' already mentioned, I think the correct answer is to go see an accountant. That said, if you are already have...
Below is an instruction that describes a task. Write a response that appropriately completes the request. ### Question: Working out if I should be registered as self-employed in the UK ### Answer: Being self employed just means you fill out some more forms in your annual self assessment for your "profit" from being sel...